Elk Grove: 916 - 246 - 2082 Sacramento: 916 - 246 - 2083

2017 New Tax Returns Due Dates

President Obama signed the short-term highway funding extension, H.R. 3236, into law on Friday, July 31, 2015. Included in that law were a series of revised filing deadlines for numerous taxpayers. The most notable are as follows: Partnerships (and entities taxed as partnerships) filing Form 1065: Calendar year filers will be due March 15th (previously […]

Read More

Due to requirements for certain taxpayers to renew their Individual Tax Identification Number (ITIN), the IRS has released an updated Form W-7. A new screen has been added to Drake Software 2015 that allows the completion of the updated version of the form. (See How to Renew in Drake, below.) Who Needs to Renew ITIN […]

Read More
Changes in ITIN Rules on the Way

Taxpayers with Individual Taxpayer Identification Numbers (ITINs) will have a different set of rules for the 2017 income tax filing season. The changes are the result of the Protecting Americans from Tax Hikes Act, better known as the PATH Act, which was passed in 2015. The revisions center around those ITINS that may have gone […]

Read More
Expect Refund Delays for 2016 Tax Year

Last December, the PATH Act made permanent several tax extensions and incentives, including the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC). It also included a provision that will delay refunds related to those two now-permanent tax credits. When Congress increased the IRS budget by $290 million at the end of last […]

Read More
LLC vs. S-Corp

No matter what sort of business you run, it’s a great idea to “make it legal.” Incorporating as an S-Corp or forming your company as an LLC both have distinct advantages for you and your business. For a small amount of money and just a few minutes of your time, you’ll be protecting your personal […]

Read More
When an LLC Must File Taxes as a Corporation

Small business owners have several choices of business structures, including sole proprietorships, corporations, and LLCs. All offer various advantages. One of the benefits that LLCs offer is flexibility in taxes. As an LLC, you can choose to file taxes as a Corporation, or as a Partnership or Sole Proprietorship, depending on your situation. In some […]

Read More
Share and Earn

Share and Earn- Earn $10 in Three Steps It’s easy to earn free money at Applied Financial Services. 1- Send a referral to a friend. 2- Your friend files a tax return with Applied Financial Services and saves 50%. 3- Put $10 in your pocket. What’s in it For You? You will receive $10 when […]

Read More
Important Tax Dates 2016

Important Tax Dates 2016- Knowing when and what you have to file can save you a lot of headaches at tax time. To avoid paying penalties, mark your calendar with the following important tax deadlines. January 15, 2016 4th Quarter 2015 Estimated Tax Payment Due If you are self-employed or have other fourth-quarter income that […]

Read More
Filing requirements for 2015 tax year

Filing requirements for 2015 tax year If income tax was withheld from your pay, or if you qualify for the earned income credit, the additional child tax credit, the health coverage tax credit, the refundable credit for prior year minimum tax, or the American opportunity credit, you should file a return to get a refund […]

Read More
When Will I Get My Refund?

Get up-to-date refund information using Where’s My Refund? or the IRS2Go mobile app. Where’s My Refund? is updated no more than once every 24 hours, usually overnight. Refunds are generally issued within 21 days after we receive your tax return. You should only call if it has been longer. 1 When to check status… Within […]

Read More