Fleming Accounting Solutions LLC

Fleming Accounting Solutions LLC Allowing owners freedom to manage their business without worrying over financials, payroll & taxes. READY TO LEARN MORE?

YOUR STRUGGLE: Managing the accounting side of your business can be a challenge. You know you need to get the right processes in place to increase your profits and cash flow, but you just don't have the time. HOW WE CAN HELP: We specialize in helping businesses of various sizes increase profits and cash flow through Outsourced Accounting/Tax Preparation services. We handle the accounting side of y

our business, allowing you to focus on handling your patients. Send us a message directly here on Facebook or visit our website at: www.flemingaccountingsolutions.com

04/02/2026

New IRS Alerts You Need to Know About

The IRS is expanding its use of acceptance alerts, so you may start seeing more of them when your tax return is accepted.

These alerts do not mean your return was rejected, but they may highlight items that could require follow-up.

A couple examples to be aware of:

• Paper Check Refund Delays: The IRS has indicated that refunds issued by paper check may take significantly longer than usual. In some cases, there may be an extended delay before checks are even processed and mailed. If you’re expecting a refund, providing direct deposit information can help you receive funds much faster and avoid these delays.

• Dependent Already Claimed: Your return may still be accepted, but you may need to work directly with the IRS if there’s a conflict.

If you receive an alert, be sure to review it carefully and take any necessary next steps. Staying informed now can help prevent surprises later.

03/31/2026

Missing Tax Documents? Here’s What to Do Before You File

As we move through tax season, one of the most common issues taxpayers run into is missing or delayed tax forms, like a W-2 or 1099. Before you file, it’s important to make sure you have everything you need to avoid delays or corrections later.

Here’s a quick guide to help you navigate it:

Start at the source
If you’re missing a document, your first step should be to contact the employer, payer, or issuing agency directly to request a copy or correction.

Check your IRS account
You may be able to access wage and income transcripts through your IRS online account. Just keep in mind, if you see a “no record” message, it may simply mean the IRS hasn’t received the data yet.

Don’t delay filing unnecessarily
If you’re unable to get your forms in time, you can still file using reasonable estimates. The IRS provides substitute forms (like Form 4852) to help you complete your return as accurately as possible.

Be prepared to amend if needed
If your actual documents arrive later and differ from your estimates, you’ll need to file an amended return to correct the information.

Special note on unemployment income (Form 1099-G)
If the amount looks incorrect, or worse, you received one but didn’t collect benefits, it’s important to act quickly. This could indicate an error or even potential identity theft. Contact your state agency right away and ensure your return reflects only the income you actually received.

Taking a few extra steps now can help you avoid bigger issues down the road. If you’re unsure on how to proceed, a short conversation with the tax professionals at Fleming Accounting Solutions can help steer you in the right direction!

03/17/2026

A Quick Tax Reminder: The IRS Updated Its Tax Withholding Estimator

The IRS recently updated the IRS Tax Withholding Estimator to reflect several new provisions included in the One Big Beautiful Bill.

This free online tool helps workers and retirees determine whether the right amount of federal income tax is being withheld from their paychecks now, so there are fewer surprises when it’s time to file next year.

The updated estimator now accounts for several new tax provisions, including:

• No tax on tips
• No tax on overtime
• No tax on certain car loan interest
• Additional deductions for seniors

It also better reflects updates related to family credits, homeownership deductions, and charitable giving.

The tool walks taxpayers through income, withholding, credits, and deductions and provides guidance on whether adjustments should be made using Form W‑4 or Form W‑4P.

This is especially helpful for individuals who:
• Have multiple jobs or a working spouse
• Experienced a major life change (marriage, divorce, birth/adoption)
• Claim credits or itemize deductions
• Earn gig, freelance, or investment income
• Owed additional tax or received a larger-than-expected refund last year

Taking a few minutes to review your withholding now can help ensure it better matches your expected tax liability and may even increase your take-home pay during the year.

Before using the estimator, it’s helpful to have your latest tax return and recent pay stubs nearby.

03/03/2026

IRS Individual Online Accounts: A Simple Tool More Taxpayers Should Be Using

As tax and accounting professionals, we spend a lot of time helping clients track down documents, confirm payments, retrieve transcripts, and resolve IRS notices.

One tool that continues to improve and that more taxpayers should be using is the IRS Individual Online Account (IOLA).While it’s not brand new, the IRS has expanded its functionality significantly, and it’s quickly becoming one of the most useful (and underutilized) resources available to individual taxpayers.

What Is an IRS Individual Online Account?

An IRS Individual Online Account is a secure online portal that allows taxpayers to access their federal tax information directly from the IRS. Anyone who can verify their identity can create an account. Once established, login credentials should never be shared even with a tax preparer. (If we need access, we request it properly through Power of Attorney authorization.)

Why We Recommend Clients Set One Up

From both a compliance and fraud-prevention perspective, this account offers real advantages:

View Key Tax Information
• Adjusted Gross Income (AGI)
• Account balances
• Payment history

Access Wage & Income Transcripts

You can download copies of:
• Form W-2
• Form 1099-NEC
• Form 1099-MISC
• Form 1099-INT
• Form 1099-DIV
• Form 1095-A

This is especially helpful if you’ve:
• Moved during the year
• Changed jobs
• Misplaced documents
• Need to verify income before filing

Notably, the IRS has made wage and income transcripts available weeks earlier than usual, which supports more timely and accurate filing.

Monitor Refunds and Amended Returns

You can:

• Check refund status
• Confirm amended return processing
• View over 200 types of IRS digital notices

Manage Payments

• Make or cancel payments
• Set up or modify installment agreements
• View current balances

Approve Authorizations

You can electronically approve:

• Power of Attorney (POA) requests
• Tax Information Authorizations

This speeds up representation and avoids mailing delays.

A Quick Note About Transcripts

Occasionally, you may see a message such as: “No record of return filed.”
This typically does not mean something is wrong. It usually indicates the IRS has not yet received wage data from the employer or payer. Timing matters, especially early in the filing season.

Why This Matters

The IRS Individual Online Account offers taxpayers many benefits including:

• Reduces delays
• Improves transparency
• Enhances fraud protection
• Helps taxpayers stay proactive rather than reactive

The IRS continues working to modernize the taxpayer experience, and this tool is one of the more meaningful improvements we’ve seen in recent years.

If you haven’t created an IRS Individual Online Account yet, it’s worth considering, even if you work with us as your tax professional. Having direct visibility into your account adds an extra layer of security and awareness.

02/19/2026

New Tax Breaks Are Here But They’re Not As Simple As Expected

Tax season is shaping up to bring bigger refunds for many but navigating the new deductions may be trickier than expected.

Here’s what every taxpayer should know:

1. Overtime Deduction
• Only certain overtime qualifies and only part of it.
• Eligibility for overtime pay depends on labor law coverage and, in some cases, your collective bargaining agreement.
• Employers are not required to report eligible overtime, so you may need to calculate it from pay stubs.

2. Tips Deduction

• Unreported tips may trigger Social Security and Medicare taxes.
• This could result in a reduction of the benefit.

3. Auto-Loan Interest Deduction

• Only for new vehicles purchased after a certain date.
• Only cars with “final assembly” in the U.S. qualify.
• Must be primarily for personal use.

4. Other Familiar Benefits
• Child Tax Credit increased.
• State and local tax deductions expanded.
• New $6,000 deduction for seniors.

Bottom Line: These deductions can increase refunds, but the rules are detailed and sometimes complex. Carefully review eligibility and documentation, and if you need help understanding it all, let’s chat today!

Navigating the fine print now can save you headaches later and make sure your tax season is as smooth as possible.

02/17/2026

If you’ve ever tried calling the IRS anytime after the Presidents Day Holiday, you already know, it’s peak season for hold times.

With the 2026 filing season officially underway, the IRS is reminding taxpayers that this holiday week (centered around Presidents Day) is historically one of the busiest call periods of the year. And they’re right; call volumes spike significantly.

Here’s my advice:

Avoid the phone. Use the tools.

Most of what people call the IRS about can be handled faster and often more securely online.

The Most Underused Tool: Your IRS Online Account

If you don’t already have one, I strongly recommend setting up your IRS Individual Online Account.

What you can do inside your account:

• Access wage & income transcripts
• Retrieve your prior-year AGI
• View and approve tax professional authorizations
• Request or view your Identity Protection PIN (IP PIN)
• Make payments or schedule/cancel future payments

In many cases, this eliminates the need for a phone call entirely.

Want Your Refund Faster? File Smart.

The fastest way to receive your refund is simple:

• File electronically
• Choose direct deposit

Paper filing and paper checks introduce delays and risk. The IRS has been moving toward fully electronic payments in alignment with recent federal modernization efforts and refunds move significantly faster when processed digitally.

If you're eligible, consider using the IRS Free File service. If you're comfortable preparing your own return, Free File Fillable Forms are available regardless of income.

Before You Call About Your Refund…

Use Where’s My Refund? first.

The tool updates once daily (overnight) and provides status within 24 hours of an accepted e-filed return.
For early filers claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC), updated status information is typically available by February 21.

Again, faster than waiting on hold.

Need Help? Choose Carefully.

If you qualify, Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE) programs offer no-cost help from IRS-certified volunteers.

And as always, be cautious of “ghost preparers”. Anyone who refuses to sign a return they prepare is a red flag.

Bottom Line:
Presidents Day week is predictable chaos for IRS phone lines.

But the bigger takeaway is this:
The IRS has invested heavily in self-service technology. If you learn to use it, you save time and reduce frustration.

File accurately. File electronically. Use online tools. Skip the hold music.

If you have questions about your specific situation, feel free to reach out. We’re always happy to help our clients navigate the process efficiently and strategically.

02/17/2026

Tax Credits 101: What They Actually Mean for Your Tax Bill in 2025

One of the most common things we hear every tax season is:
“I’ve heard there’s a credit for that… but I’m not sure what it does.”

So let’s clear it up because tax credits are one of the most powerful tools taxpayers have.

First, the big distinction (this matters):

A tax credit reduces your tax bill dollar-for-dollar.
That’s very different from a deduction, which only reduces taxable income.

Some credits can even put money back in your pocket; even if you owe little or nothing in tax.

Recent tax law changes expanded several credits, so here’s what you should know.

Common Tax Credits You Should Know About:
Child Tax Credit (CTC)

• Up to $2,200 per qualifying child for 2025.
• Helps offset the cost of raising kids.
• Part of this credit may be refundable.

Child & Dependent Care Credit

• For childcare or dependent care expenses
• Available if you worked or were actively looking for work
• Covers kids and qualifying dependents

Saver’s Credit

• You contributed to an IRA or employer retirement plan.
• Credit of up to $1,000 ($2,000 if married filing jointly) is available.
• This credit is often overlooked, especially by younger filers.

Refundable Tax Credits (These Can Increase Your Refund)

Earned Income Tax Credit (EITC)

For low-to-moderate income workers and families
Amount varies by income, family size, and filing status
One of the most valuable credits and one of the most misclaimed

Premium Tax Credit

• For taxpayers who buy health insurance through the Marketplace.
• The subsidy is based on income and health plan costs.
• It can significantly reduce (or refund) premiums.

Fuel Tax Credit

For fuel used in off-highway business or farming activities
Not for personal driving (this is where scams pop up)

Partially Refundable Credits (Still Valuable!)

Additional Child Tax Credit

• Refundable portion of the Child Tax Credit
• Up to $1,700 per qualifying child may be refundable

Adoption Tax Credit

• Up to $17,280 per child
• The maximum refundable amount is $5,000.
• Any remaining nonrefundable amounts can be carried forward.

American Opportunity Tax Credit (AOTC)

• For qualifying college expenses
• Up to $2,500 per year
• $1,000 refundable

Bottom Line:

With bigger credits comes bigger misinformation.

Every year, scam promoters push “guaranteed refunds” tied to credits people don’t actually qualify for and that can lead to audits, penalties, and repayment later.

• Keep good records.
• Don’t claim credits you don’t fully understand.

If you’re unsure which credits apply to you (or want to make sure you’re not leaving money on the table), that’s exactly what the tax professionals at Fleming Accounting Solutions are here for. Let’s talk soon!

Tax credits shouldn’t feel mysterious, they should work for you, not against you.

02/12/2026

Digital Assets & Tax Season: A Few Important Reminders You Don’t Want to Miss

As tax season gets underway, many taxpayers are starting to receive their 2025 tax documents, W-2s, Forms 1099, and other income statements. If you bought, sold, or otherwise disposed of digital assets during the year, there’s an important update that you need to be aware of.

For the first time, some taxpayers may receive a Form 1099-DA, a new information return used by brokers to report certain digital asset transactions to the IRS.

What counts as a digital asset?

Digital assets aren’t limited to Bitcoin anymore. The IRS definition includes:

• Cryptocurrencies and convertible virtual currencies (like Bitcoin)
• Stablecoins
• Nonfungible tokens (NFTs)

If you used a broker to sell or dispose of digital assets, that broker is required to send you a copy of Form 1099-DA by February 17, 2026, matching what they report to the IRS.

One key catch: Cost basis may be missing

Unlike some other tax forms, most 2025 Forms 1099-DA will not include your cost basis. That means taxpayers will need to calculate their own basis to determine whether they have a gain or loss on the transaction.
This is an important shift and one that could easily be overlooked. Be sure to be vigilant, especially if you’ve had multiple transactions across platforms.

No form doesn’t mean no reporting

Even if you don’t receive a Form 1099-DA, you’re still required to report all digital asset income, gains, or losses on your tax return. The reporting obligation exists whether a form shows up in your mailbox or not.

Don’t forget the digital asset question

When filing your return, every taxpayer must answer the digital asset question “yes” or “no”, even if they didn’t transact during the year. The IRS has provided a questionnaire to help taxpayers determine the correct response, and it’s worth taking a moment to answer carefully.

Bottom line
Digital asset reporting continues to evolve, and this new form is another step toward increased visibility and compliance. If you’ve been active in crypto, NFTs, or other digital assets, now is the time to:

• Gather transaction records
• Understand your cost basis
• Review reporting requirements before filing

If digital assets are part of your financial picture, make sure they’re part of your tax planning too. Need help understanding how to handle your digital assets for this upcoming tax season- let’s talk!

02/10/2026

New IRS Guidance on the Overtime Deduction: What Workers and Employers Should Know

The Treasury Department and IRS have released new FAQs (Fact Sheet 2026-01) providing much-needed clarity on the deduction for qualified overtime compensation under the One, Big, Beautiful Bill.

For tax years 2025 through 2028, individuals who receive qualified overtime pay may be eligible to deduct the portion of overtime compensation that exceeds their regular rate of pay; generally the “half” portion of time-and-a-half wages. This amount must be properly reported on Form W-2 or Form 1099 to qualify.

The newly issued FAQs help answer practical questions, including:

• Determine if overtime qualifies under the Fair Labor Standards Act (FLSA)
• Differences in reporting requirements for 2025 vs. 2026–2028
• Resources for employees, including federal workers, to assess eligibility

This new guidance builds on earlier IRS notices that outlined employers penalty relief and worked eligibility.

Bottom line: This is a meaningful opportunity for eligible workers, but the deduction hinges on accurate classification, reporting, and documentation. Employers should ensure payroll systems are aligned with the new requirements, and individuals should review their Forms W-2 or 1099 carefully.

As always, this is an area where proactive planning, and asking the right questions early, can make a real difference. Need help taking full advantage of this on your 2025 taxes? We are here to help!

01/15/2026

The IRS has officially opened the 2026 filing season, and there are a few important updates taxpayers should keep in mind as they start to think about their 2025 tax returns.

Key Dates:
Filing season opens: January 26, 2026
Deadline to file and pay: April 15, 2026

What’s New This Year:
Several provisions from the One, Big, Beautiful Bill take effect this filing season and may impact your deductions, credits, and overall tax bill. Notably, taxpayers will use the new Schedule 1-A to claim recently enacted benefits, including:

• No tax on tips
• No tax on overtime
• No tax on car loan interest
• Enhanced deductions for seniors

Tools to Make Filing Easier:
The IRS continues to expand online resources, including:

IRS Online Accounts to track payments, balances, and tax records
Where’s My Refund? for real-time refund updates
IRS Free File and Fillable Forms for eligible taxpayers

Important Reminders

• All taxable income must be reported, even if you don’t receive a 1099-K or 1099-DA.
• The IRS is phasing out paper refund checks and will require direct deposit.
• Be cautious of tax scams and choose a reputable tax professional like Fleming Accounting Solutions.

A little preparation now can help avoid surprises later.

If you have questions about how these changes affect you, now is a great time for us to start a conversation about your tax and accounting needs!

01/13/2026

If you own or trade cryptocurrency or other digital assets, there’s an important reporting change coming.

Starting with the 2025 tax year, the IRS is introducing Form 1099-DA, which will standardize how digital asset transactions, like crypto and NFTs, are reported.

What’s Changing?

Certain digital asset platforms will now be required to report transactions to both you and the IRS. This includes:

• Crypto trading platforms
• Payment processors
• Hosted wallet providers
• Crypto kiosks

What Will Be Reported?

• Transaction Reporting Timeframe: 2025 transactions will be reported in 2026.
Platforms will report gross proceeds only (not cost basis yet)
• Starting in 2026:
Platforms will report both gross proceeds and cost basis for newer digital assets

Why Cost Basis Matters:

Cost basis helps determine your taxable gain or loss. Not all digital assets will have this information reported right away, especially:

• Assets bought before 2026
• Assets moved between platforms
• Assets held outside of major exchanges

What This Means for You:

These changes don’t necessarily increase taxes but they do increase IRS visibility. Good record keeping and understanding where your digital assets are held will be more important than ever.

If you have digital assets, now is a great time to review your records and plan ahead so there are no surprises when filing future returns.

01/08/2026

The IRS has announced the 2026 standard mileage rates, and there’s a notable change for business owners and self-employed taxpayers.

Business mileage rate increases to 72.5¢ per mile, up 2.5 cents from 2025.
This adjustment reflects updated cost data and inflation and can meaningfully impact deductions for those who drive regularly for work.

Here’s a quick snapshot effective January 1, 2026:

• Business use: 72.5¢ per mile
• Medical use: 20.5¢ per mile
• Moving (qualified military & certain intelligence community): 20.5¢ per mile
• Charitable use: 14¢ per mile

These rates apply to gas, diesel, hybrid, and fully electric vehicles.

Why this matters:
If you use your vehicle for business, the higher rate may increase your deduction, but only if you’re tracking mileage properly. Remember, the standard mileage method is optional, and in some cases, actual expenses may still be the better choice depending on your situation.

As always, the right approach depends on how your vehicle is used, whether it’s owned or leased, and how it was treated in prior tax years.

If you’re unsure which method makes the most sense for 2026, now is a great time to review your mileage tracking and tax strategy.

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