781-337-8788 [email protected]

Why is Tax Day 2022 on April 18?

The deadline for filing your Federal Taxes this year is Monday, April 18, 2022. This is because even though April 15th is a Friday, it is also Emancipation Day, which is celebrated in Washington, DC, causing all businesses and government offices to close.

Residents of Massachusetts and Maine have until Tuesday, April 19, 2022, in observance of the state’s Patriots Day holiday.

How to Get Your Tax Documents to (and From) Us Safely!

We continue to encourage everyone to use the client portal for the safest transfer of documents, but are happy to be able to provide alternatives to accommodate what works best for you!   

Sending Us Hard Copies of Your Documents?

Priority Mail is best! The U.S. Post Office offers free tracking with Priority Mail, and has the best rates for anything under two pounds. We do NOT recommend sending via FedEx. Our FedEx delivery person often leaves packages in the main building lobby rather than bringing them to our office. 

Reminder: We do not need your medical receipts, only the total you spent if you think you have enough to deduct.

Dropping Off?

We have a secure lockbox set up just inside our office door, along with hand sanitizer, pens, and large white envelopes if needed. Please do not put anything through the mail slot, as we cannot guarantee the safety of your information unless it is in our locked dropbox.

Make sure your documents are sealed in an envelope with your name on the outside before placing in the locked dropbox. The box is emptied and the area sanitized every half hour!

officeentry copy 2

Your Returns are Ready for You to Sign. Now What?

Once we have completed your returns, we will give you a call, and you can choose to have us send them to you via Priority Mail, or you can come to our office to retrieve them.

If you choose to come to our office to pickup your tax return:

  • Please call us from the parking lot when you arrive.
  • We will place your documents on one of two desks (A or B) just inside our office.
  • Once you know which table your documents are on, you may enter the office to retrieve them.
  • You may opt to take your return back to your car to look over and sign before leaving. However, we recommend that you take your return home to review before sending the signed copy back to us for filing. 

Paperless Bill Payment

Did you know you can pay your Business Bookkeeping Services invoice online? We have a secure payment gateway which can be accessed from the homepage of our website for your convenience. You can pay your invoice by credit card through this link instead of writing a check! Easy. 

Stimulus Round 3: Unemployment Questions Answered

The passage of the most recent stimulus package —The American Rescue Plan— is good news for most taxpayers. However, particularly for those who received unemployment benefits in the last year, implentation of the bill after the start of tax season is creating some confusion.

Shortly after the president signed the Act, IRS issued a statement indicating that a software update will be installed to address any potential issues with 2020 tax returns. In the meantime, the main takeaways with regard to unemployment are:

  • The American Rescue Plan includes a retroactive benefit that will make the first $10,200 of unemployment income from 2020 non-taxable for individuals who earned less than $150,000.
  • IRS is urging taxpayers who are eligible for this benefit to delay filing pending the software industry update that will account for the adjustment.
  • Taxpayers who have already filed their 2020 returns should also wait to see if an amended return will be necessary.

For our clients who meet the eligibility requirements of the unemployment provision:

  • If we have already processed your taxes and it is determined that an amended return is necessary, the update will be filed after April 15th, per IRS guidance.
  • If we have your information and/or your documents are in progress, we will be holding your return pending the Federal and State software updates before filing. 
  • ​If you have any questions about the unemployment provision in the most recent stimulus, IRS has posted more detailed information here.

Expediting Your 2021 Return:
The Top 15 Things You Need to Know & Do

As we head into another pandemic tax season, all indications are that the IRS still hasn’t caught up from last year, and that ongoing staffing issues and changes resulting from stimulus payments are going to make this year even more challenging. You can read more about it in this article from The Washington Post.

The good news is that we have done our homework and compiled an updated list to help prevent delays and surprises with your returns. There are new wrinkles this year, like IRS letters 6419 (Advance Child Tax Credit) and 6475 (Third Round Economic Impact Payment) that we MUST have in order to process your return. We need the two IRS letters listed above to process your income tax return. If the credits we list on your tax return do not match what is on file with IRS it will take 5-6 months for IRS to process your tax return after we file it for you. Also, if the credits we list do not match IRS records this will change the refund or balance due amount on the tax return.

We have also included timeless reminders and best practices we think you’ll find helpful in getting organized well in advance of filing deadlines.

  1. Don’t throw out any mail you get from IRS! Even if it looks insignificant, what we submit on your behalf MUST match what the IRS has on record, or your return will be delayed by as much as 6 months! Examples of letters you might receive, like those mentioned above, are further detailed below.
  1. Got kids? New This Year: If you received the monthly child tax credits in 2021 you will be receiving IRS Letter 6419. This IRS letter will indicate the amount of the credit received in 2021 and the number of qualifying children used to calculate that amount. We need a copy of this letter to process your tax return. From July through December 2021, eligible taxpayers were allowed to receive up to $300 per month for children under 6 and $250 per month for children 6-17. People who received the monthly payments can also check how much they received through the CTC Update Portal on the IRS website. If you received the monthly child tax credits in 2021 you will be receiving. We MUST have a copy of this letter to process your tax return! 
  1. Remember that 3rd round of stimulus that happened in March, after lots of people had already filed their 2020 taxes? People who received the third stimulus check, officially called the 2021 Economic Impact Payment, will receive Letter 6475 from the IRS. This will help them determine if they received the EIP or if they should claim the Recovery Rebate Credit on their 2021 income tax return we file for you this year.
    “Letter 6475 only applies to the third round of Economic Impact Payments that was issued starting in March 2021 and continued through December 2021,” the IRS said on its website. “The third round of Economic Impact Payments, including the ‘plus-up’ payments, were advance payments of the 2021 Recovery Rebate Credit that would be claimed on a 2021 tax return. This is important information for your Tax preparer.
  1. The health of our staff is the single biggest factor in our ability to continue operating at maximum efficiency during tax season. Due to the COVID-19 virus we have changed how we operate in this new climate. Keeping our employees and clients safe is a top priority, so we will not be having in-person appointments, but we will have a safe and secure drop off and pickup protocol for you. We also require that you wear a mask when you enter our office (even if you are vaccinated).
  1. Filing season is expected to begin on January 24, 2022, but as we know from last year, that date can be a moving target amid the pandemic. As soon as we have confirmation of an “official” start date we will notify clients by e-mail.
  1. Tax Year Organizers will be going out to clients shortly—no need to contact us to request yours! Keep an eye out for an e-mail from SecureFile Pro that lets you know it’s been uploaded to the portal.
  1. Make sure we have your preferred e-mail address. If this is the inbox where you like to hear from us, you can call this one done! If there’s a different e-mail we should use, please send your update to [email protected]
  1. Collect any questions you have about your return and include them, in writing, with your documents on the portal. This will enable us to address specific questions about your individual return while we are working on it and have your information in hand. 
  1. Provide us with all your information, all at one time. Stops and starts slow everything down. 
  1. Did you collect unemployment in 2021? If so you will receive Form 1099-G in the mail from The Commonwealth of Massachusetts. You can see an example on our previous checklist post here.
  1. Health Connector Insurance? If your health insurance is through the Health Connector you will receive a copy of Form 1095A in the mail. You can see an example on our previous checklist post here. Make sure to include it with your documentation.
  1. Estimated tax payments? If you paid estimated taxes in 2021 and January 2022 please list the date(s) of payment and the amount(s) paid.
  1. Keep your medical receipts—at home. Please provide only the total amounts if you know you spent enough itemize. 
  1. Visit our website for office updates. And if you are a client and not on our mailing list, please join using the opt-in link on our website home page. It is important that you join our e-mail list now more than ever because this will be our main line of communication.
  1. Please be patient. Like most businesses these days, COVID-19 has greatly impacted our operations. Following these guidelines will truly help minimize interruptions and keep things running most efficiently!