Tax Plus, Inc.

02/08/2025

With identity theft being such a constant risk, it makes sense to go with a tax preparer that is on record as being a trustworthy service provider. Make 2025 the year you put your finances first by switching to Tax Plus!

IR-2025-21, Feb. 3, 2025 — The Internal Revenue Service today reminded taxpayers that choosing the right tax professional is essential to helping them avoid tax-related identity theft and financial harm.

01/03/2025

Beginning Jan. 1, 2025, the standard mileage rates for the use of a car, van, pickup or panel truck will be:

70 cents per mile driven for business use, up 3 cents from 2024.
21 cents per mile driven for medical purposes, the same as in 2024.
21 cents per mile driven for moving purposes for qualified active-duty members of the Armed Forces, unchanged from last year.
14 cents per mile driven in service of charitable organizations, equal to the rate in 2024.

Read all about it at the IRS website:

IR-2024-312, Dec. 19, 2024 — The Internal Revenue Service today announced that the optional standard mileage rate for automobiles driven for business will increase by 3 cents in 2025, while the mileage rates for vehicles used for other purposes will remain unchanged from 2024.

01/03/2025

If you still owe taxes from 2020 and 2021, the IRS is looking to offer you assistance on penalties you may have been assessed! Here are the details:

IRS helps taxpayers by providing penalty relief on nearly 5 million 2020 and 2021 tax returns with unpaid balances

In a major step to help people who owe back taxes, the IRS announced new penalty relief for approximately 4.7 million individuals, businesses and tax-exempt organizations that were not sent automated collection reminder notices during the pandemic.

The relief will total about $1 billion and most of those receiving it make under $400,000 a year.

Given the unusual situation due to the pandemic, the IRS is taking several steps in advance of resuming normal collection notices for tax years 2020 and 2021 to help taxpayers with unpaid tax bills. They include:

Issuing a special reminder letter starting next month
taking steps to waive the failure-to-pay penalties for eligible taxpayers affected by this situation for tax years 2020 and 2021
This penalty relief is automatic. Eligible taxpayers don't need to take any action to get it.

03/02/2024

Wow! Talk about your time being valuable...

A client shared this with me, and I feel like I should share it here too. If you had a bad experience with online tax software in the past, let us make some sense of it all this year! You can do the whole thing with us online, but we will treat you like a person, instead of a number.

Ever spend hours (and hours) inputting complicated financial information online only have it deleted? It’s frustrating enough when it’s due to a technical glitch, but according to an FTC complaint against tax preparer H&R Block, wiping out consumers’ already keyed-in tax data was an intentiona...

01/05/2024

January is here, which means the deadline to issue 1099s is right around the corner. Reach out if you'd like us to take it off your hands this year!

04/04/2020

Don't get caught in a phishing scam!

If you need to file a "simple return" in order to claim your stimulus payment, we will be able to do that for you remotely, but not yet. The IRS will be announcing their plans for that soon.

From a release:

"On Monday, March 30, the IRS indicated that those who normally aren’t required to file taxes will need to file a ‘simple tax return’ in order to get a stimulus payment. At this time, the IRS has not provided instruction on how this should be done.

In addition, the IRS also indicated it would provide a web-based portal in the coming weeks for taxpayers to provide direct deposit information if they didn’t provide it on either their 2018 or 2019 tax return. This portal is not yet available.

Taxpayers should be on alert for phishing scams that try to take advantage of this situation."

04/04/2020

Good news for many of you who currently receive social security benefits:

April 1, 2020


WASHINGTON – The U.S. Department of the Treasury and the Internal Revenue Service today announced that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an Economic Impact Payment. Instead, payments will be automatically deposited into their bank accounts.

“We want to ensure that our senior citizens, individuals with disabilities, and low-income Americans receive Economic Impact Payments quickly and without undue burden,” said Secretary Steven T. Mnuchin. “Social Security recipients who are not typically required to file a tax return need to take no action, and will receive their payment directly to their bank account.”

The IRS will use the information on the Form SSA-1099 and Form RRB-1099 to generate $1,200 Economic Impact Payments to Social Security recipients who did not file tax returns in 2018 or 2019. Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits.

04/01/2020

If you or someone you know owns a small business, please share this page with them. It offers a good breakdown of the loans and grants most easily accessible right now.

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

03/20/2020

Here at Tax Plus Inc., we hope this finds you in good health.

We are temporarily closing in response to the call for social distancing. However, we will have someone in the office from 9AM-1PM each day to receive your taxes as a drop-off. As soon as it is prudent, we will be back in the office full-time.

Also, the IRS has extended all payment deadlines for personal and business income taxes until July 15th. This means there is no potential penalty or drawback to requesting an extension this year. If you want one, we can submit it for you easily! Please request one at [email protected].

If you have friends or relatives that are concerned about their taxes, please have them reach out to us as well. We are offering our extension filing service free to anyone that needs one during this trying time.

Finally, all of our clients are also encouraged to use our secure portal to scan and submit your documents electronically. We will be working on taxes in the office and at home to ensure we process your taxes as efficiently as possible during this trying time.

Send a request for an invite to [email protected].

If you have any questions, please call us at 770-957-9355 between 9AM and 1PM, M-F. We will also monitor our voicemail and email accounts daily.

Again, we hope all of you are healthy right now. We are committed to doing our part to keep you that way!