Preferred Tax Service, Inc

01/28/2026

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Stay home & stay safe while having your taxes prepared! No need to go out in the cold, Preferred Tax Service has you covered with a variety of preparation options, including remote tax prep. Upload your docs to us & our tax pros will handle the rest 🙂

01/01/2025

Happy New Year 🎉

Tax season is right around the corner! Here are some new year's tips (if applicable) -
✔️ Go out to the vehicle you use for business & take a picture of the odometer today. (For sole proprietors who deduct mileage vs actual)
✔️ Contact HR to adjust your W4 withholding. (don't forget state).
✔️ Adjust your retirement account contributions. (the IRS has increased contribution limits for both 401k & IRAs for 2024 & 2025, so if you haven't reviewed them in a few years, now is a good time)
✔️ If you're 73 or older & have a non-IRA account, you can set your RMD up for monthly distributions (or take your lump sum now) so you don't forget by year-end. (Contact your financial advisor to ask what your requirements & options are)
✔️ Make your 4th quarter 2024 estimated tax payment by 1/15/25. Remember, to avoid underpayment penalties, you must've paid in 100% of the previous year's tax liability (110% for those with AGI >$150k) or 90% of the current year's.
✔️ Organize your tax-related documents. Place a folder in a convenient spot in your house to put the documents in as they arrive in the mail. Also create a folder on your computer/phone to add PDFs of online versions to.

Once you have everything together, upload your documents or drop them off -

Preferred Tax Service, Inc
Wilmington DE
302-654-4388
[email protected]

Tax Plus, Inc
Millsboro DE
302-945-3700
[email protected]

Wishing you a healthy & prosperous 2025 💰

03/07/2024

Happy Thirsty Thursday!




Sherry

02/18/2023

Seems the IRS is on the ball this season! We've noticed refunds being processed pretty quickly this year. However, many were expectedly delayed, just like the past few years due to the PATH Act, by law the IRS cannot process returns with certain credits (EIC/CTC/AOC - which includes a good portion of our early filers) until after 2/15. In the past, refunds from returns filed in Jan would start rolling in around now. Yet when we pulled reports this morning we saw a record amount of clients were included in a huge refund dump last night! Clients with 4-5 digit refunds that were just filed a few days ago have already hit their accounts! After the past 2 seasons of major pandemic delays, IRS being basically unreachable & just all around general frustration, this was a much welcome turn of events 🙌

02/07/2023

It's after 1/31! If you don't have your W2s, you should be serenading your employer 👩‍🎤

~ Sherry B
The Tax Lady

08/21/2022

https://www.washingtonpost.com/opinions/interactive/2022/irs-pipeline-tax-return-delays/?pwapi_token=eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJzdWJpZCI6IjQ0MzU2NzciLCJyZWFzb24iOiJnaWZ0IiwibmJmIjoxNjYwNjA5MTE5LCJpc3MiOiJzdWJzY3JpcHRpb25zIiwiZXhwIjoxNjYxODE4NzE5LCJpYXQiOjE2NjA2MDkxMTksImp0aSI6ImIzNmVmNzFhLWJlMmYtNDEwYS04YzAwLTQ1MDJmNWQzMWM3ZCIsInVybCI6Imh0dHBzOi8vd3d3Lndhc2hpbmd0b25wb3N0LmNvbS9vcGluaW9ucy9pbnRlcmFjdGl2ZS8yMDIyL2lycy1waXBlbGluZS10YXgtcmV0dXJuLWRlbGF5cy8ifQ.PUtaG_-jGuWnfKQti3Fp2KU45D2D7j_vgIWD51UQmmo&itid=gfta

This is the antiquated system the IRS uses to process millions of tax returns each year.

07/24/2022

03/04/2022

We at Preferred Tax Service appreciate your patience as we navigate the past few days of technical issues regarding our internet & phone service. We are working diligently with our provider to get back up & running. Thank you for your understanding in this matter.

Sherry

01/22/2022

Tis the season & Preferred Tax is open for business! Call us 302-654-4388 to get your filing underway. We have remote options, as well!

Also offering advances & loans via prepaid card or direct deposit.

01/02/2022

Happy New Year from Preferred Tax Service 🥂

New Year's tip for our small business clients (including Doordash, Flex, Uber, etc) -
Don't forget to start your fresh new mileage log, or start using that tracker app you've been wanting to try. & take a picture of your odometer BEFORE starting your first job of the year 🚘

Then buckle up, 2022 is going to be your year 🙌