Covenant CPA, LLC

05/21/2026

Got kids? Got kids who love Summer Camp?

Did you know you can offset summer camp costs with the Child and Dependent Care tax credit, worth up to 35% of eligible expenses?

Key IRS Rules to know:
✔️ Day camps only – no overnight camps qualify. Specialty Day Camps (sports, music, science, arts, etc.) do qualify as long as they are for daytime childcare.
✔️ Child must be under the age of 16 when the care is provided
✔️ Parent or Parents must be working, actively looking for work or a full-time student during the camp period.
💲 💲 Up to $3,000 for one child or $6,000 for 2 or more.

How do I claim the credit?
🌟 You will need the camp’s name, address, Taxpayer ID or Employer ID
🌟 File Form 2441 with your federal tax return

Need help? Reach out today to speak to a tax specialist!

04/22/2026

Want to fine-tune your tax withholding and/or estimated tax payments for 2026 taxes? Plan ahead and use the IRS Tax Withholding Estimator.

With some basic information like your income from your most recent paystub(s) and your 2025 tax return, it takes about 25 minutes to go through the questions and offers the opportunity to print a completed W-4 or W-4P form to give to your employer or pension provider.

Just to note: The estimator does not ask for personal info like your name, SS number, address, or bank account info. Your responses won’t be saved or shared with the IRS.

Taking a short half hour now to complete the withholding estimator can:
> Help avoid too little tax withheld and avoid owing a penalty next April
> Help avoid too much tax withheld and get a bigger paycheck now with a smaller refund later

Visit the IRS website for more details.

Check your W-4 tax withholding with the IRS Tax Withholding Estimator. See how your withholding affects your refund, paycheck or tax due.

04/08/2026

The 5-Minute "Trick" to Increase Productivity & Successes.
Did you know...
most people who procrastinate aren't lazy...they are OVERWHELMED.
Too many tasks, too large of tasks, not enough time, too much...

03/11/2026

The Internal Revenue Service announced its annual Dirty Dozen list of tax scams for 2026 that threaten the tax and financial information of taxpayers, businesses, AND tax professionals.
The IRS advises all taxpayers to remain cautious year-round, as criminals will always be on the lookout for new ways to obtain money, personal identifiable information, and data.

Check out the full story on the IRS website:

IR-2026-30, March 5, 2026 — The Internal Revenue Service today announced its annual Dirty Dozen list of tax scams for 2026 that threaten the tax and financial information of taxpayers, businesses, and tax professionals.

02/25/2026

The tax filing deadline is approaching fast, which means time is running out to fund an IRA for 2025. If you earned income last year, you may be able to contribute up to $7,000 for 2025 ($8,000 for those who were aged 50 or older by December 31, 2025) up until your tax return due date, excluding extensions. For most people, that date is Wednesday, April 15, 2026.

Making a last-minute contribution to an IRA may help you reduce your 2025 tax bill. In addition to the potential for tax-deductible contributions to a traditional IRA, you may also be able to claim the Saver's Credit for contributions to a traditional or Roth IRA, depending on your income. For more information, visit irs.gov.

02/11/2026

The IRS has confirmed that the $1,776 Warrior Dividend provided to more than 1.5 million service members in Dec. 2025, is non-taxable. The $1,776 bonus was given to thank them for their military service and to commemorate the 250 years the U.S. military has been defending the nation.

"The tax-free Warrior Dividend places $1,776 directly in the hands of our warfighters and their families," Pentagon Press Secretary Kingsley Wilson said, "The department is proud to recognize their sacrifice."

01/28/2026

As part of a broader US Department of Treasury move to transition to fully electronic federal payments, the Internal Revenue Service (IRS) is phasing out paper tax refund checks for individual taxpayers for the 2026 federal tax filing season.

Why this move? To protect the taxpayers!

For more information on the IRS transition towards electronic payments, visit irs.gov.

01/13/2026

The IRS has announced that Monday, January 26, 2026, will open the nation's 2026 tax filing season. Taxpayers will have until Wednesday, April 15, 2026, to file their 2025 tax returns (or file for an extension) and pay any tax due. According to the IRS website, "This year, several new tax law provisions of the One, Big, Beautiful Bill become effective, which could impact federal taxes, credits and deductions."

Need more information? Visit the IRS.gov/newsroom for more information on the tax season, One Big Beautiful Bill Act, online resources, and tax tips.

Get IRS tax news and sign up for e-News updates. Find information on Form 1040, tax relief, regulations, deadlines, tax guidance and more.

12/30/2025

The IRS has updated the annual standard mileage rates for 2026. The change reflects updated cost data and annual inflation adjustments and is applicable to fully-electric and hybrid automobiles, as well as gasoline and diesel-powered cars, vans, pickup trucks or panel trucks.

Beginning January 1, 2026, the standard mileage rates include:
~ 72.5 cents per mile driven for business use, up 2.5 cents from 2025.
~ 20.5 cents per mile driven for medical purposes, down a half cent from 2025.
~ 20.5 cents per mile driven for moving purposes for certain active-duty members of the Armed Forces (and now certain members of the intelligence community), reduced by a half cent from last year.
~ 14 cents per mile driven in service of charitable organizations, equal to the rate in 2025.

IR-2025-128, Dec. 29, 2025 — The Internal Revenue Service today announced that the optional standard mileage rate for business use of automobiles will increase by 2.5 cents in 2026.

12/19/2025

For the Christmas holiday, Covenant CPA LLC offices will close at noon on Wednesday, December 24, 2025 and reopen for our regular business hours on Monday, December 29, 2025.

Our offices will also close at noon on Wednesday, December 31, 2025 and reopen for our regular business hours on Friday, January 2, 2026.

We wish you all a bounty of peaceful blessings this season, filled with the love and joy of family and friends, and abounding in hope and happiness throughout the coming New Year.