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The name was chosen from the upper room in the book of Acts in the Bible. While attending seminary Alfred noticed there was very little teaching to prepare clergy and religious workers financially.
Clergy are unique in the tax code. They are both self-employed and employed by an organization at the same time. As such they need to be very careful to claim their income and deductions on the correct forms.
Currently there are no federal regulation requiring and even recommending tax preparers to be certified. We are a licensed e-file provider with the IRS. We are not opposed to a form of certification as it is in the interest of the public to get the best service. We would like to see the following as part of that certification process:
1) Standardize the preparer identification number by requiring each preparer to obtain a preparer tax identification number (PTIN).
2) Require some type of compentency test based around the types of returns a preparer wishes to prepare. (no exceptions)
3) Require continuing tax education for all preparers (no exceptions).
4) Require all preparers to comply with the ethics rules of Circular 230.
We can and will prepare local tax forms in addition to federal and state forms, if asked. There will be an additional charge as this usually involves calling localities to assess what the local filing requirements are.
Currently our home office is in Lexington, KY.
Yes. We can prepare any states taxes and can help you regardless of where in the country (and sometimes world) you are located.
We recommend faxing or mailing your information to us, as it is a bit more secure than e-mailing it. However, if you wish to e-mail your information, that is acceptable. We prefer to send forms you need to sign via fax or regular mail.
Unfortunately no. Almost every return is different and as such it takes a different amount of time and knowledge. You will be given our price upon completion of your tax return and before it is e-filed with the IRS or mailed to you if it has to be paper filed. At that time if you are not happy with our prices or for any other reason you may take all the information you provided back and you will not be charged. Once you agree to have us e-file or mail the return to you, you will be responsible for prompt payment.
We accept personal checks and money orders made out to the company. We also still accept cash. There is a fee for us to accept credit cards and in an effort to pass savings on to our clients; we do not at this time accept credit cards. We are also offering a new service this year that would allow our fee to be taken out of your refund. There will be an additional charge involved as it is processed through a bank.
If it was e-filed and you elected to have it Direct deposited, then usually two Thursdays from the day it is e-filed. If you paper filed it can take 8-12 weeks.
That depends upon the state and if you elect to have your refund direct deposited. Kentucky for the past two years has refunded in as little as three days from e-filing. Other states can take up to two weeks.
Payment is due to the IRS by April 15th in the year you are filing your taxes (eg. You file your 2009 tax return in 2010 so payment would be do April 15, 2010.) If you have elected to have something other than a calendar year as your tax year then payment is due 75 days after the end of your elected tax year.
This depends upon the state. We would suggest looking at your states department of revenue web page for guidance.
Your payment is due before your return is mailed to you or e-filed unless prior arrangements have been made. If you elect to have payment withdrawn from refund proceeds, it will count as paying your bill in full. Receipts will be issued when payments are made.
We suggest contacting them as soon as they have accepted your tax return. If e-filed it usually takes a day. If paper filed it could take more than two weeks. Once it is accepted you can set up a payment plan with them. DO NOT DO NOTHING! Doing nothing will make them think that you have no intention of paying and can result in them freezing your bank accounts, garnishing your wages, and even seizing your assets. If you contact them they can work out a payment plan with you. It benefits them to collect the money and benefits you knowing that they will not cause you a lot of problems in the future.
We suggest contacting them as soon as they have accepted your tax return. If e-filed it usually takes a few days. If paper filed it could take more than two weeks. Once it is accepted you can set up a payment plan with them. DO NOT DO NOTHING! Doing nothing will make them think that you have no intention of paying and can result in them freezing your bank accounts, garnishing your wages, and even seizing your assets. If you contact them they can work out a payment plan with you. It benefits them to collect the money and benefits you knowing that they will not cause you a lot of problems in the future. While states may not be as fast as the IRS to put your life in disorder it is not worth it to you to not contact them. Also future refunds from your federal return can be taken to pay your state debts.
1) Your tax preparer may have made an error that the state or federal department of revenue caught. It happens; we are only human.
2) You could owe an entity money. This could take the form of back child support, student loan debt, a federally backed loan, money owed to a state, money owed to the federal government from a prior year’s return, even bank fees and money not paid to prior tax preparers.
1) Your tax preparer may have made an error that the state or federal department of revenue caught. It happens; we are only human.
2) You could owe an entity money. This could take the form of back child support, student loan debt, federally backed loan money owed to a state, money owed to the federal government from a prior year’s return, even bank fees and money not paid to prior tax preparers.
RAL is an acronym for Refund Anticipation Loan. This is a loan issued by a bank based upon what the bank believes your refund to be. These are usually issued to a tax client in under two days. There are a lot of additional fees from both the bank and tax preparers associated with these. Here is how the RAL system works:
1) Your return is e-filed.
2) The IRS sends a confirmation to the bank issuing the RAL along with a code that tells the bank whether there is the possibility for money to be withheld from the refund. If there is money to be withheld the bank will usually not issue you a RAL. They will wait until the IRS deposits the refund. (see below)
3) If there are no issues with your refund (i.e. no debt codes sent to the bank from the IRS), the bank opens up an account in your name. This is not your account. You have no access to it.
4) The bank then issues you a loan from the account in the amount of your expected refund minus any bank fees, preparer fees, and/or other miscellaneous fees.
5) The preparer either issues you a check or the money is put on a prepaid card.
6) When the IRS issues the refund the bank deposits it into the account they created, thereby zeroing out the account. The bank closes the account.
No. We do not offer them at this time. We feel it is in our clients best interests to keep the money that would be spent on the fees and wait two Thursdays for the money to be direct deposited in our clients own bank account.
We can prepare any type of 1040 return. In the past we have prepared returns including, but not limited to: W2 income, 1099-Misc income (from contract employment, rental income, health-care provider, etc), income from K-1’s, income from investment activities (including but not limited to: interest, dividends, sale of stocks, income from the sale of investment property, commodity (futures) trading, rental property (including depreciation), etc., self-employment income (i.e. Schedule C income), household employees, farm income, cancellation of debt, all kinds of itemized deductions, student loan interest, and “innocent spouse” returns.
If it is for a personal return we can do it.
First, don’t panic (unless you did something illegal). Second, there are three main ways the IRS audits people.
1) They send a letter of inquiry regarding a specific return for a specific year. This usually is sent when income (e.g. W2’s from a job, 1099-Misc’s, dividends, bank interest, sale of stock information, etc.) is reported to the IRS by the entity that gave it to you, but was omitted on your return. It could also be sent if deductions taken did not line up with what was reported to the IRS (e.g. mortgage interest, childcare, student loan interest, etc.).
2) They conduct a phone interview to try to clarify any issues.
3) They do a face-to-face interview. [Number three is the least likely to happen, but it is the most feared.]
If you were sent a letter of inquiry then you need to determine if it is correct. You do not need to assume that it is. The IRS is staffed by humans and the computers they program so they are fallible. If you agree with the letter then follow the instructions it contains (usually sending in payment due or waiting for a refund). If you do not agree with the letter, or if the information is only half correct (e.g. The IRS knows that you sold stock for $xxxx.xx, but they do not know what your cost basis was for that stock.) If it is the case that the letter is partially correct you will need to file a 1040-X form (also called an “Amended return”. When the IRS receives it they will review the new information and either issue you another letter of inquiry, or send you a letter telling you they accepted the changes and what will happen (e.g. you will be getting a refund, you owe penalty, you neither owe nor are due a refund).
If you are asked for a face-to-face interview, it is a good idea to contact a tax lawyer or someone who can represent you before the IRS, even if you do not need them for the actual interview. It may be worth talking to a knowledgeable tax preparer about your situation before contacting a lawyer.
Remember there is no need to panic until the audit plays itself out. Usually they are handled peacefully and by letter. Even if a face-to-face interview is requested, remember if you have done nothing wrong and have all the required documentation to prove income, deductions, or whatever else they are asking of you it will be as painless as possible.
The audits are almost always for a specific year. The only reason the IRS will look at different years (especially prior ones) is if they suspect fraud. If they suspect fraud and start opening prior year returns, contact a tax attorney or someone who can represent you before the IRS immediately.
No, there is no way to avoid an audit. However, there are certain things that can flag your return for review, though they may not turn into an audit. Among them is excessive charitable contributions, home office deduction, drastic changes in income amount or kind from a previous year, or claiming Earned Income Credit (due to the high amount of fraud found by the IRS on these kinds of returns). The IRS may conduct a random audit on whomever they wish as well.
No, there is no way for any preparer to guarantee their client will not get audited. However a wise preparer will prepare your return in such a way that if you are audited the chances of the IRS finding an error will be small.
Currently no one in the company is licensed to represent you before the IRS. However if you were our client in the year the IRS audits you we will be able to testify in your behalf, provide instruction to you, and show documentation to the agent upon request.
No. A court ruled that even if the IRS continues to audit you multiple years for the same issue that the court has no power to grant a demand for a written apology from the IRS. (see Caldwell, TC Summ. Op. 2009-169)
That is not a problem. However if you think you will owe the IRS, you are still responsible for paying them on time if you want to avoid interest. You will need to file form 4868. If the IRS owes you money they would be happy for you to never file so the government can keep the money.
Maybe.
1) If you are single and your gross income was over $9,350,
2) If your filing status is married filing jointly and your gross income was over $18,700,
3) If your filing status is married filing separately and your gross is over $3,650,
4) If your filing status is head of household and your gross is over $12,000,
5) If your status is qualifying widow(er) with dependant child and your gross is over $15,050,
Then you should file. There is an allowance for those in the different categories who are over age 65 that increases the filing gross number by between $1,100 and $1,400 depending upon the status, except for the status of married filing separate which is not allowed any further increase.
Even if you made under these amounts it may be (and probably is) to your benefit to file since you will probably be getting back a refund of money you paid into withholding (i.e. the amount in Box 2 on your W2) plus potential Earned Income Credit (EIC).
A lot of it we have to keep. We keep federal and state forms for five years. We picked five years because this is the limit of time that you can file back tax forms in most states. The federal government will only allow you to file the previous three years.
After five years we destroy the paper files. These will either be burned or shredded and recycled.
Yes, we believe that we only get one environment and it is our job to help take care of it. We take the following steps to help preserve our little part of the environment.
1) We use 100% recycled post consumer paper for all of our in house copying and printing.
2) We print out only what is necessary for signing and for your records. We do not keep a hard copy of your 1040 in our files since we have it saved on the tax program and backed up to a jump drive in a safe.
3) If we do misprint something or discover a change needs to be made to a return after printing, the paper generated is either burned (used to light wood in a fireplace) or shredded and recycled (through traditional recycling or as bedding in a vermicompost program). We do the same for files over five years old that need to be destroyed.
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