Precision Tax and Immigration Services, LLC

Precision Tax and Immigration Services, LLC We are a tax and document preparation firm specializing in individual and small business tax returns

•IRS Registered Tax Preparer
•Online / Virtual Tax Preparer
•All 50 States (California-New York) •AFSP Certified
•Certifying Acceptance Agent - ITINs
•Immigration Consultant
•Small Business Bookkeeper
•Year Round Service
•Bilingual (English / Spanish)

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•Preparadora de impuestos registrada en el IRS
•Preparadora de impuestos en línea / virtual
•Los 50 estados (California-Nueva Y

ork)
•Certificada AFSP
•Agente de aceptación certificadora - ITIN
•Consultora de inmigración
•Contadora de pequeñas empresas
•Servició todo el año
•Bilingue (ingles / español)

💼 Your taxes. Our Precision.💡Tax season doesn’t have to be stressful!✅ Maximize Your Refund✅ Minimize Your Tax Liability...
02/22/2025

💼 Your taxes. Our Precision.💡

Tax season doesn’t have to be stressful!

✅ Maximize Your Refund
✅ Minimize Your Tax Liability
✅ AFSP Certified Tax Professional
✅ CAA Certifying Acceptance Agent
✅ Personalized Service Tailored To Your Needs
✅ Fast, Reliable, Accurate and Affordable
✅ Member of the NATP (National Association of Tax Preparers)
✅ All 50 States

Limited Appointments Available!
Don’t wait—secure your spot today and let us handle the rest.

It’s that time of year again! Set your appointment early! If you haven’t started yet, you should start gathering your ta...
01/19/2025

It’s that time of year again! Set your appointment early! If you haven’t started yet, you should start gathering your tax documents now. The sooner you begin the less stress you’ll feel.

Act now to avoid a possible penalty. Taxpayers who earn or receive income that is not subject to tax withholding, such ...
01/15/2025

Act now to avoid a possible penalty. Taxpayers who earn or receive income that is not subject to tax withholding, such as self-employed people or independent contractors, should pay their taxes quarterly to the IRS. Taxpayers who paid too little tax in 2024 are also encouraged to make a fourth quarter estimated tax payment by today, January 15, 2025.

The IRS has announced that the 2025 tax season will officially begin on Monday, January 27, 2025. Start gathering all of...
01/13/2025

The IRS has announced that the 2025 tax season will officially begin on Monday, January 27, 2025.

Start gathering all of your tax documents now and book your tax prep appointment today.

The tax relief postpones various tax filing and payment deadlines that occurred from Jan. 7, 2025, through Oct. 15, 2025...
01/12/2025

The tax relief postpones various tax filing and payment deadlines that occurred from Jan. 7, 2025, through Oct. 15, 2025 (postponement period). As a result, affected individuals and businesses will have until Oct. 15, 2025, to file returns and pay any taxes that were originally due during this period.

The Oct. 15, 2025 deadline will now apply to:

• Individual income tax returns and payments normally due on April 15, 2025.

• 2024 contributions to IRAs and health savings accounts for eligible taxpayers.

• 2024 quarterly estimated income tax payments normally due on Jan. 15, 2025, and estimated tax payments normally due on April 15, June 16 & Sept. 15, 2025.

• Quarterly payroll and excise tax returns normally due on Jan. 31, April 30 and July 31, 2025.

• Calendar-year partnership and S corporation returns normally due on March 17, 2025.

• Calendar-year corporation and fiduciary returns and payments normally due on April 15, 2025.

• Calendar-year tax-exempt organization returns normally due on May 15, 2025.

In addition, penalties for failing to make payroll and excise tax deposits due on or after Jan. 7, 2025, and before Jan. 22, 2025, will be abated as long as the deposits are made by Jan. 22, 2025.

The house passed the Tax Relief for Families and Workers Act. For those of you looking forward to the passing of this bi...
02/01/2024

The house passed the Tax Relief for Families and Workers Act. For those of you looking forward to the passing of this bill, you are now one step closer. It still needs to pass the senate then it would be placed on the president’s desk to be signed into law.

The maximum child tax credit now sits at $2,000, of which only $1,600 is refundable. The bill would increase the $1,600 limit on refundability to $1,800 for tax year 2023, $1,900 in 2024, and $2,000 in 2025, as well as adjustments for inflation.

Per the IRS commissioner, “Taxpayers shouldn’t wait for Congress to enact changes to the child tax credit and instead fi...
02/01/2024

Per the IRS commissioner, “Taxpayers shouldn’t wait for Congress to enact changes to the child tax credit and instead file when they are ready. The IRS will make sure that taxpavers who file their returns before legislation is enacted get the payments they are eligible for without having to take any additional steps.”

The IRS announced that they will begin accepting and processing tax returns on Monday, January 29, 2024. As a reminder, ...
01/09/2024

The IRS announced that they will begin accepting and processing tax returns on Monday, January 29, 2024.

As a reminder, you do not need to wait until the 29th to get started. If you have all of the documents you’ll need now, we can complete and submit your return as soon as you’re ready to file. It will be waiting patiently for the IRS to open and be one of the first to be processed.

It’s time to gather your 2023 tax documents. To best file an accurate return and avoid processing delays, gather all of ...
01/05/2024

It’s time to gather your 2023 tax documents. To best file an accurate return and avoid processing delays, gather all of your documents prior to your appointment.

Just a reminder that if you own a business and registered your business with the Secretary of State in any of the 50 sta...
01/03/2024

Just a reminder that if you own a business and registered your business with the Secretary of State in any of the 50 states nationwide you need to file a Beneficial Ownership Information (BOI) report.

THIS IS A NEW REQUIRED FORM FOR 2024 THAT IS MANDATORY.

BOI is an anti-money laundering initiative enacted through the Corporate Transparency Act (CTA) in 2021, which mandates that BOI information is reported to the Financial Crimes Enforcement Network (FinCEN) effective January 1, 2024. It is estimated that there will be 32.6 million filings in 2024, and 5-6 million filings each year thereafter, with the potential for steep penalties for the taxpayer.

Reporting companies must report BOI to FinCEN and include the following:
• Domestic reporting companies, which include any corporation, limited liability company (LLC) or other similar entity created by the filing of a document with a secretary of state or similar office of a state or Indian tribe.
• Foreign reporting companies, which include any corporation, LLC or other entity formed under the laws of a foreign country registered to do business in any U.S. state or tribal jurisdiction by the filing of a document with a secretary of state of any similar office.

The IRS announced a delay in the new $600 reporting threshold for Form 1099-K for third-party organizations (ie Cash App...
11/22/2023

The IRS announced a delay in the new $600 reporting threshold for Form 1099-K for third-party organizations (ie Cash App, Venmo, Square, Apple Pay etc) for the year 2023. The delay was enacted to reduce confusion among taxpayers and payment processors.

The IRS plans to treat 2023 as a transition year, wherein reporting will only be required if the taxpayer receives over $20,000 and has more than 200 transactions. The IRS also plans to implement a $5,000 threshold for tax year 2024, in phase with the $600 reporting threshold required by the American Rescue Plan Act. It aims to minimize burden and provide easier reporting requirements for taxpayers, working closely with third party groups, tax professionals and others to ensure compliance with the law.

Although the Form 1099-K reporting threshold for 2023 is $20,000, companies could still send the form for totals over $600.

No matter the amount, if you receive payments for selling goods or services or renting property you must report your income. There are no changes to what counts as income or how tax is calculated.

Address

1005 Terminal Way Suite 251
Reno, NV
89502

Opening Hours

Monday 10am - 6pm
Tuesday 10am - 6pm
Wednesday 10am - 6pm
Thursday 10am - 6pm
Friday 10am - 6pm

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