San Joaquin Accounting & Tax Services

Missed the April 18 IRS Deadline? File Now to Reduce Penalties The IRS due date for filing 2021 tax returns has passed, but taxpayers who missed the deadline still have many reasons to file as soon as possible. Both those who owe tax and those entitled to refunds will benefit from filing a 2021 return without further delay. If you owe tax and did not request an automatic filing extension, filing your return now will minimize the late filing penalty. Even if you did request an... extension, remember that the extension applies only to filing your return, not to paying your tax. By estimating how much tax you owe and paying now, you can reduce other IRS penalties and interest charges. Some federal tax credits are also refundable, meaning that if you qualify, you may receive an IRS refund even if you owed no tax or had no tax withheld during the year. However, you generally must file a return to claim these credits and receive your refund. Common refundable credits include the Child Tax Credit (CTC), Earned Income Tax Credit (EITC), Recovery Rebate Credit, and Child and Dependent Care Credit.

Refund Scams - Did You Know? As tax filing season ends and individuals start receiving their refunds, taxpayers should be aware of a refund scam that may be making the rounds. The scammer starts by stealing taxpayer information through hacks, uses the stolen information to file a tax return, and then gets the refund deposited into the victim's account. They then contact the victim and pretend to be the IRS saying that it was a mistaken deposit and to return the money to them.... The scammers may make threats for you to return the 'erroneous deposit' using a recorded call message, or pose as debt collection agency officials acting on behalf of the IRS. The IRS has established procedures for taxpayers to follow in the genuine case of a mistaken refund that can be found here: https://www.irs.gov/taxtopics/tc161.

Possible Reasons for 2021 IRS Tax Refund Delays Most taxpayers who file their returns electronically and request direct deposit generally receive their IRS refunds within 21 days. However, a variety of factors can result in longer return processing times. The IRS recently reminded taxpayers of the most common causes of tax refund delays, including: - The return was mailed on paper instead of filed electronically. Filing a paper return typically doubles the expected wait time ...for a refund. - The IRS needs more information to process the return. In this case, you will generally receive an IRS letter requesting the information. - The return did not include banking information for direct deposit, so the IRS must mail a paper check. - The return includes a request for an Injured Spouse refund allocation. The IRS cannot provide information about refund status until at least 21 days after a return was electronically filed, or six weeks after a paper return was mailed. IRS Where's My Refund Tool: https://www.irs.gov/refunds.

Filing Extensions and Minimizing Penalties Did You Know? Taxpayers who request an automatic extension to file their 2021 federal income tax returns may file anytime up until October 17th, 2022. Remember, however, that an IRS extension is only an extension to file tax returns, NOT an extension to pay any tax owed. Taxes not paid by the April 18th payment deadline may be subject to late penalties and interest charges. Electronic payments may be made using the IRS online payme...nt portal (link below). The IRS urges those who cannot pay what they owe at this time to pay whatever amount they can, and then apply for an installment plan to pay off the remaining balance. You should still file your taxes, even if you can't pay, as the failure-to-file penalty may be 10 times more than the failure-to-pay penalty. IRS Online Payment Portal: https://www.irs.gov/payments

Happy Holidays we are here to inform you that we will be closed for Christmas and New Years. Please contact us if you have any questions. Thank you

Happy Holidays May you be blessed with love, joy and health this holiday season and in the New Year. All the Best, San Joaquin Accounting & Tax Services

Did everyone enjoy the rainy spell? Foggy mornings and frosty windows are upon us now!Did everyone enjoy the rainy spell? Foggy mornings and frosty windows are upon us now!

2019 is flying by! We are looking forward to the holidays, but know that means TAX SEASON IS RIGHT AROUND THE CORNER! So much to do, so little time. Are your Thanksgiving plans ready to go?

Tax Season is among us. Let our EXPERTS help you get the most for your money! Stop by and see us today and get your $10 discount! Other services offered: Bookkeeping, Payroll and Notary! Call us today: (661) 325-1421 Visit us at: 117 H St, Bakersfield, Ca 93304... Download your forms at: www.sjats.net/resources/ See more

Tax Season is Here! Come on in and allow us to help you get all your taxes situated. Please contact us at 661-325-1421 and set an appointment. We will gladly assist you.

Tax season is now here, and we are ready to help you with all of you're Tax Preparation needs. We offer services in Spanish as well as English, Ranging from booking, Notary, Pay-roll, Corporations and much much more so call us at 661 325- 1421 or come in at our office at 117 H st Bakersfield CA, 93304.