Items Needed to Complete Your Return

Below is a list of important information for filing your 2023 return. You can download a PDF of the list HERE.

 IF YOU WOULD LIKE TO HAVE YOUR TAX INFORMATION PUT ON A FLASH DRIVE RATHER THAN A CD PLEASE LET US KNOW. THERE WILL BE A ONE TIME CHARGE OF $5.00 FOR THE FIRST YEAR WE USE A FLASH DRIVE.

YOU MAY SIGN UP FOR AN ACCOUNT WITH IRS WHERE WE CAN SEE WHAT YOU HAVE PAID IN AND WHAT YOU HAVE RECEIVED FOR YOUR ECONOMIC STIMULUS PAYMENTS 

Go to IRS.gov and select “Sign in to your account.” Select “Sign in to your online account” a second time and the next page will allow you to create an account. This will allow us to see transcripts of things that have been sent to IRS in your social security number and allow for electronic signature for Power of Attorneys if we have to answer a letter that you have received. It is a way to confirm how much has been paid in for estimated taxes.

IF YOU ARE A SINGLE MEMBER LLC OR SOLE PROPRIETOR THAT FILES A SCHEDULE C 

Until recently, if you did not have employees or another reason that you needed an Employer Identification Number (EIN), you were required to file your business returns using your social security number. IRS realizes that due to forms you might be required to give to your clients, such as W-9s, your social security number is being given to a lot of people; therefore, you may now file to receive a business tax ID number to help protect your social security number.  You can get this number on the IRS website. Search SS-4 to complete online. 

IF YOU ARE A MINISTER 

New for this year, your housing allowance must be included when we calculate your Earned Income Credit. Prior to this year we could choose to use it or not. 

IF YOU HAVE MONEY IN FOREIGN BANK ACCOUNTS 

We ask this question each year, but if you do AND if at any point of any day in the year your foreign bank accounts had $10,000 or more in it, you are required to fill out a FINCEN report; if you do not the penalty is $10,000. 

IF YOU HAVE CRYPTOCURRENCY 

If you received a drop, if you mined, or if you paid for something using Cryptocurrency we have taxable consequences. If you bought Cryptocurrency as an investment, did NOTHING with it and did not receive a drop or mine it, then you do not have a taxable consequence.