Talcott Company

01/27/2026

Tax season 2025 has begun! The IRS is officially accepting e-filed returns. Call for an appointment or visit our new and improved website to schedule an appointment or access your secure portal.

Efficient and accurate tax, payroll & bookkeeping services for individuals and small businesses. Serving the Inland Empire s

03/04/2025

https://www.irs.gov/newsroom/dirty-dozen-tax-scams-for-2025-irs-warns-taxpayers-to-watch-out-for-dangerous-threats

08/01/2024

Senate fails to pass Tax Relief for American Families and Workers Act (08-01-24)

Today the Senate failed to pass the American Families and Worker’s Act of 2024 (TRAFWA) by a vote of 48 to 44 (it required 60 votes to pass). This is the bill that was passed by the House in January 2024 on a vote of 357 to 70. At the time the bill passed the House, it had bi-partisan support, and commentators were expecting it to pass swiftly.
Had it passed, the bill would have, among other things:
• Increased the Child Tax Credit;
• Retroactively reinstated current expensing for domestic qualified research expenses, 100% bonus depreciation, and the larger business interest expense deduction;
• Significantly increased Employee Retention Credit (ERC) penalties and retroactively imposed a January 31, 2024, cutoff date for new ERC claims; and
• Provided additional disaster relief for those impacted by federally declared disasters occurring after 2019.
At this stage, it is highly unlikely that there will be any significant tax legislation passed until after the November 2024 election

Send a message to learn more

06/08/2023

If you filed your tax return already and you had a balance due which has not yet been paid, you may have received a notice in the mail from the IRS. Please be advised that you indeed DO have until October 16th, 2023 to pay despite what the notice says.
In tweets released late yesterday, the IRS stated that California taxpayers who qualify for the disaster-related October 16 postponements (August 15 for Modoc and Shasta counties) still have until the October 16/August 15 postponement deadline to pay their 2022 tax liabilities. The IRS stated that taxpayers receiving erroneous CP14 letters do not need to call the IRS or their tax professionals.
The IRS acknowledged that the CP14s are automatically generated when taxpayers have a balance due, but that taxpayers eligible for the disaster postponements do not have any balances currently due. From the IRS’s tweets: “The IRS apologizes to taxpayers and tax professionals for any confusion as we continue to review the situation.”

“The IRS reassures California taxpayers that they continue to have an automatic extension until later this year to file and pay their taxes for those covered by disaster declarations in the state. (🧵 1/5)”

02/05/2018

At approximately 2:30 am on Saturday January 27th, another drunk driver crashed into our office building. It is obliterated! Our part of the building has been tagged by the city and we cannot operate in this space.

The good news is that we have temporarily relocated to another part of the building in suite 3. It is at the back through the courtyard area.

The team at Talcott Company pulled together to make sure that we could function and continue to provide the best service to our clients.

If you have been trying to reach us by phone, they ba e been mostly down all week. It they too are back up and running. Thank you all for your good thoughts and concern as we dug out of the mess. Come see us in our "new spot"!

12/01/2017

https://businesscenter.office.com/b/NETORG3353790/signup

01/15/2016

Protect yourself from taxpayer ID theft! It happens all of the time and we see it every year.

https://www.credit.com/taxes/protect-yourself-from-taxpayer-identity-theft/?utm_source=Yahoo&utm_medium=content&utm_content=IB_1&utm_campaign=tax_ID_theft

12/23/2015

With the tax extenders bill finally passed, we now know when the IRS will begin accepting e-filed tax returns for individuals!

This year the IRS "opens for business" on January 19th. Plus there will be 3 extra days to file before the deadline as this year the deadline will be April 18th due to the Emancipation Day holiday in D.C.

Check your mailboxes soon for our official 2015 tax year organizer and make sure you call the office to get on the calendar.

http://www.accountingtoday.com/news/tax-practice/irs-announces-start-date-for-tax-season-76777-1.html?taxpro=1&utm_medium=email&ET=webcpa:e5785185:2889365a:&utm_source=newsletter&utm_campaign=tax%20pro%20today-dec%2023%202015&st=email

The Internal Revenue Service will begin accepting individual tax returns on Tuesday, Jan. 19, 2016, it announced today.

11/23/2015

Looking for strategies for lowering your taxable income? Here are some handy tips for doing just that from the good folks at Kiplinger.

http://www.kiplinger.com/slideshow/taxes/T055-S003-lower-your-taxable-income/index.html?rid=SYN-yahoo&rpageid=14194

Reducing your taxable income is one of the most effective ways to lower your taxes, with some moves doing double duty as both deductions themselves and as a means to slide under income thresholds at which other taxes would kick in.

11/18/2015

Here is a great article from Investopedia about tax brackets. Did you know that the concept of tax brackets is one of the most misunderstood aspects of the taxation system? If you have any questions about how tax brackets apply to your tax situation, give us a call to discuss.

http://www.investopedia.com/articles/personal-finance/111715/how-federal-and-state-tax-brackets-work.asp?partner=YahooSA

Understanding how federal and state tax brackets work is important for tax planning – and for making sense of the political conversation around tax reform.