Important! You can correct your taxes for the last three years!
Clients Alice and Erik came to our office with a recommendation from their friend. For the last couple of years, they were using another accountant. Erik was telling Alice for a while that they need to look for a second opinion and they were glad they came to our office.
When we looked at their taxes, we immediately noticed that they were not signed by the accountant who prepared their taxes. It was sent to the IRS stating, that Alice and Erik did their taxes on their own. So, when we evaluated their taxes we found that Alice and Erik did not claim the biggest refund available for the Earned Income Credit.
Alice and Erik have a child and did not receive a refund for two years. After we amended their returns, they received a check from the IRS for $4296.00
My wife was telling me for a while to try another accountant. I googled, and your office came up the closest to my home, so I decided to try. This is what Mike told me when he came to our office. Mike and his spouse were doing their taxes with an old friend.
When I looked at Mike’s taxes for the last three years I immediately noticed that he left money on the table for the IRS. Mike has a daughter, who is in college and had some income in those years as well. Mike supported his daughter 100%, and she lived in his home as well. The problem with their taxes was that their old accountant did not indicate that Mike supports his daughter and that his daughter lives with Mike.
After all our corrections, Mike received a check from the IRS for $3696.00.
He was so upset that his friend did not do his taxes correctly and he was thankful to his wife who pushed him to look for another tax professional.
I’m new in the country and did only one tax return for my business and my personal. However, I did not like the accountant who prepared my taxes. She was rude to me and did not explain anything, can you please look into my taxes? This is how our meeting started with Sam.
When we analyzed Sam’s taxes we noticed that he has a Small Business Corporation. The next thing we noticed was that he had a total income of $28000, and had only $2500 in expenses. Expenses included only his equipment purchases. This short look immediately caught our attention and we could see that his taxes must be amended. I asked him if he had a cell phone for his business, did he have a car, any repairs, a home office, office supplies, parking fees, and fees for tollways. He confirmed that of course, he incurred all of these expenses!
The next step was to calculate these expenses and amend his return. When the process was completed, Sam received a check from IRS for $5152! You can only imagine how excited he was!
Maria and Kyle came to our office regarding their immigration process, and of course, brought their taxes for the last three years. Looking at them, I asked a question: Are you married? Yes, they answered. Next, the question was when you get married, the answer was 2 years ago. I was shocked when I looked at their tax return. On their tax return, it was indicated that Maria is single. She told me a story about her accountant and said he did not ask them any questions, did not give any advice, or make any comments during tax return preparation. Just short questions, with yes and no answers.
So, in addition to the incorrect status claimed on their tax return, another error was recognized. Maria worked as self-employed and did not show a single expense on her tax return. In their words, she made $18000 a year and did not claim a single dollar for her expenses. Maria paid taxes for a total of $18000. We were able to correct her and Kyle’s taxes. As a result, they received a check from the IRS in the amount of $2569. This is a significant amount for a young family!
Mark attended one of our seminars and heard something so important that he was not able to sleep that night. When you have a corporation, you need to do taxes for your corporation and your personal taxes as well. And it is understandable, that he is new in the country and the tax professional who did his taxes for the last two years did not explain all of this. Mark was concerned that he did not have any documents for his corporation taxes, and he realized that he did not file a single tax return for his corporation. Penalties can be up to $2600 a year, just for not filing a corporation tax return.
Now, Mark is in our office and we analyzed his taxes.
He received a form 1099 for his corporation, and his prior accountant showed all corporation income on his personal tax returns for two years! When we converted and amended his personal tax return and moved all his income to a corporation, Mark received a check for $2180.
Now he can relax, his corporation income is separate from his personal, and he has filed his corporation tax return as required by the IRS.
Contacts us to set up an appointment if you have any questions:
United States Tax Services: Tax Preparation, Payroll, Accounting, Tax Planning firstname.lastname@example.org
Call us at (800) 913-0809 or send an SMS at (224) 676-3577 if you have any questions.