Jenny Mazzola - Personal Income Tax Specialist

04/17/2018

Another season comes to a close today, and I pause to say thank you! I was thrilled to help 31 new families this year with their filings. And more importantly, we've discussed the changing tax laws to ensure everyone is comfortable heading into 2018.

My sincere thanks for putting your trust, and your mountains of paperwork, in my hands. It was fantastic to see past clients again and wonderful to welcome new ones.

03/03/2018

If you filed and claimed the Earned Income Tax Credit, your refund is set to deposit this week. Returns that do not claim the Earned Income Tax Credit have been depositing federal refunds about 14 days after electronic filing.

If you haven't filed your tax return yet for 2017, you have 45 days. As always, I'm happy to help!

The Internal Revenue Service (IRS) has announced that tax refunds for taxpayers who claimed the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) should begin arriving in bank accounts or on debit cards this week.

02/17/2018

Each time I meet with a new client I review their prior year tax return as a courtesy. This week was proof that having your return prepared by a professional is an investment in financial fitness. Not only did my client receive a larger refund this year than they have in over 5 years, I am also amending their 2016 and 2015 tax returns. The two amended returns will have refunds that total over $4,300!

Tax laws are complex. Consider sitting with a professional and checking your financial fitness!

01/18/2018

Identity Theft - My personal experience

As an accountant, it's my job to protect sensitive information. I go to great lengths and expense to ensure the data that I've been entrusted with is safe within my computer as well as coming and going from my email addresses.

I was sitting in a tax update class in December, listening as the speaker recounted all the ways that everyone's personal information has already been exposed. The Experian breech being the most widely known, with smaller hacks occurring daily. I was smug (I should have known). I never give out my social security number, my computers and phone are password protected, and I've never had a device lost or stolen. Come to find out...it doesn't matter.

On January 5th, I received 4 letters in the mail regarding credit cards that I hadn't applied for. The next day, two more. To date, I have been in contact with 18 different banks/credit unions who have received applications for accounts in my name. For the past two weeks, the work of identifying and contacting these 18 banks has been constant.

WHAT TO DO IF YOU ARE A VICTIM OF IDENTITY THEFT:

I immediately registered myself on www.identitytheft.gov, which identifies my name and social security number as compromised, flags my credit, and forces any bank trying to open a new account to contact me. This service is free and lasts for 120 days with the option to extend it for an additional 120 days. Once the free service is exhausted, I plan to pay for indefinite monthly monitoring.

Today I met with the Pitman Police department and filed a fraud report that I will pair with notarized affidavits and send to most of the banks involved. My husband has also opted to screen his credit for 120 days.

ACT NOW:

I strongly recommend that everyone log onto www.identitytheft.gov and take advantage of the free monitoring service.

It is also important to obtain your free annual credit report to ensure that all accounts listed belong to you. Creditkarma is advertised often and provides an immediate report online. You can also obtain your credit report directly from TransUnion, Experian, and/or Equifax annually.

Please do not hesitate to reach out to me if you have any questions. The silver lining for me, as I go through this process, will be the ability to help others in this situation.

Recovering from identity theft is a process. Here’s step-by-step advice that can help you limit the damage, report identity theft, and fix your credit.

01/10/2018

As I w**d through volumes of information pertaining to the new tax law, I think it's worth providing two important pieces of information:

1. The new tax law does not (for the most part) take effect for this filing season. Meaning: If you haven't had major income or deduction changes, your 2017 tax return should look similar to 2016.

2. This is the time when most taxpayers begin gathering information to complete their tax returns. Here is a great list to guide you through the information gathering process.

I am scheduling now for February filings. Please feel free to reach out to me at any time. I'm happy to help!

NEW CLIENTSA copy of last years Federal and State tax returns (very important)A voided or canceled check for direct deposit INCOME ITEMSForm W-2s, Wage StatementsForm 1099, Interest and Dividend StatementsForm 1099-R, Pension and IRA StatementsUnemployment CompensationSale of Stock Information, Sal....

03/13/2017

The numbers are in...but the tax returns are not! Many Americans are filing later this year. If you're among the majority that hasn't filed, and I can help in any way, please don't hesitate to contact me! I'm happy to help!

More than halfway through the 2017 filing season, the IRS reported receiving 5.7 million fewer individual returns than at a comparable point last year.

03/07/2017

If you're waiting for your paperwork to be mailed...it's on the way! It's wonderful to see so many friends and clients this time of year! The best part of my job is spending an hour with a client and setting their mind at ease. Proper planning = no surprises!

02/14/2017

Happy Valentine's Day! Tax season is officially two weeks old. What's your plan for this year? Today and always, I'd LOVE to help!

02/03/2017

This article caught my eye during my morning reading. I think it's a great testament to the complexity of our tax law! 23 commonly overlooked deductions? If you've ever been confused while filing your taxes, or prefer not to spend a weekend putting your return together, I would be happy to help. I can guarantee, no deduction will be overlooked.

You can't afford to miss out on these IRS-approved tax deductions

01/25/2017

Bloomberg News just reported stats on last year's tax filing season:

"H&R Block processed almost a million fewer tax returns in the U.S. in fiscal 2016 than in 2015...according to results reported in June."

Tax filers are getting smarter! Using an experienced tax preparer provides you with an in-depth analysis of your tax situation - I ask about your whole financial situation, not just the forms you get in the mail. It also provides peace of mind - I am signing your return right next to your name, we are in it together! Using my service is easy - I am happy to come to your home at your convenience. Building lasting relationships with my clients is important to me!

I hope to hear from you soon! www.MazzolaTax.com

01/16/2017

If you have a high school or college student who has only one or two W-2s, the IRS Free File program is perfect for them! I recommend sitting down with them and helping them file their return for free on the IRS website. One item to note: Make sure they file their return as a DEPENDENT ON ANOTHER TAX RETURN so you can still claim them. They're (generally) not single taxpayers until they are no longer in school. If you have questions about filing taxes for your older child, please don't hesitate to ask!

The tax service and its private-sector partners have opened this year's program for free tax prep software for eligible taxpayers.

01/12/2017

If you file an income tax return and claim the Earned Income Tax Credit, your return and your refund will be delayed this year. Returns with Earned Income Tax Credits will not be processed until February 15th. This is due to the large amount of tax fraud surrounding this credit and the delay allows the IRS to match your return with the forms you've received.

Check to see if your tax refund will be delayed this year.