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FREQUENTLY ASKED QUESTIONS

Our business is based on providing professional guidance and solutions, which means we receive many questions from clients. Check out a few of our most common inquiries below. If you can’t find the answer you’re looking for, let us know and we’ll find it for you. Every question is important to us, so don’t hesitate in reaching out.

Because the area of tax preparation and corporate tax is incredibly complex, we have provided a list of frequently asked questions, which you can read more about below:

ARE THERE DEADLINES FOR FILING MY TAX RETURNS?

Customers are advised that the IRS, and many states, are making processing changes to reduce fraud. As a result, many refunds are taking longer to process than they did only a few years ago. In most cases, refunds are still processed in less than 3 weeks. However, returns filed in January may take longer as the IRS will not begin processing returns that claim either the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) until February 15th.

Some clients who optionally purchase our Pay Later offer may also meet the program criteria for a tax refund advance. See the tax refund advance FAQ page for more details on tax refund advances. See the fees FAQ page for more details on the Pay Later offer.

The Internal Revenue Service states that they expect to pay 9 out of 10 refunds in less than 21 days, and preparers are cautioned against stating otherwise to taxpayers. The key steps to a quick refund for all returns are;

  • File your return early

  • File your return electronically

  • File an accurate return

  • Use the direct deposit option

Click below to read the IRS Publication on refund processing. 

IRS Publication 2043

The Internal Revenue Service and the Maine Revenue Service each offer an online tool to check the status of your refund.

IRS Refund Tool

WHAT RECORDS SHOULD I KEEP ALONG WITH MY TAX RETURNS, AND HOW LONG DO I NEED TO KEEP THEM?

In the event that any of your tax deductions should be questioned, having proof of documentation will be key to avoiding serious inspections or audits. We suggest that our clients always keep records of bank statements, credit card statements, cancelled checks, invoices, and receipts. Mileage logs, meal expenses, and other records for business purposes can also be important. Donations or non-cash contributions, such as clothes or other property, should be verified with proof of receipt or acknowledgement letters from charities.

CAN I CHECK THE STATUS OF MY TAX REFUND?

Certainly! There are many ways to check the status of a refund. Due to the processing timeframe in California, you may receive your state tax refund within 7 to 10 business days if you filed your return online, or 8 to 12 weeks if you mailed your return. You can access your refund status on many different platforms, including the State of California Franchise Tax Board (FTB) or through the Internal Revenue Service (IRS).

WHY SHOULD I HIRE A TAX PREPARER?

Very few people actually enjoy filing their own taxes. Even with the help of computer software programs, the risk of running into problems still exists. In addition, computer software programs are not formulated to take into account special circumstances or your unique financial portfolio. Not only are we prepared, trained, and licensed to take on complex tax issues, but we also offer personal and ethical tax services that can help our clients maximize their returns while minimizing the risk of unnecessary IRS involvement.


HAVE YOUR CONCERNS ADDRESSED BY A PROFESSIONAL

If you have additional questions or concerns regarding your current personal taxes or business tax returns, we have the professional know-how to help you through your current predicament. We can handle any tax issue from any tax bracket, including high-assets, small-businesses, and even Fortune 500 Companies. If you are looking for more information regarding your specific tax needs, give us a call.

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