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Q&A

Please find the linked forms below for your convenience.

New Client Form

 

What do you need to prepare my business tax return?

Business Tax Preparation Checklist

 

What do you need to prepare my personal income taxes?

Important Tax Questions

Individual Tax Preparation Questions

 

What do you need to prepare my 1099 & W2s?

1099 & W2 Information

 

What are quarterly estimated tax payments? Do I need to make quarterly estimated tax payments?

Quarterly Estimated Tax Payments

 

What do you need to prepare my business tax return?

Schedule C Income and Expenses

Schedule E Rental Income and Expenses

Schedule F Farm & Rental Income and Expenses

 

What happens if I cannot pay my tax bill?

What To Do If You Cannot Pay Your Tax Bill

 

Am I required to file a Form 1099-MISC or 1099-NEC?

Form 1099-MISC and 1099-NEC Filing Information

 

What does it cost to have my return prepared?

Regarding our pricing, our firm works a bit different than most. A tax return is the result of critical planning. Our passion is in helping people maximize their post-tax net worth. While cost is a consideration, we start our client relationships by learning about your goals, educating you on becoming tax efficient, and identifying an overall strategy for your business if applicable. Tax returns are very specific to you and your current situation. In order to provide an estimated cost we will first gather the information needed to get a better idea of what is encompassed in your tax picture. In our goals of being more thorough and strategic company we end up individualizing tax solutions versus a standard one-size-fits-all approach. Please call one of our offices, and one of our amazing administrative assistants will take you through a few questions. They will then pass the information on to one of our partners and we will follow-up with you to schedule an appointment.

  • Cody, WY office: 307-527-6161
  • Powell, WY office: 307-754-1010
  • Worland, WY office: 307-347-4555

 

Frequently Asked Questions

Q: How long does it take to get my Federal tax refund?

1a: For electronically filed tax returns, refunds usually arrive in your bank account or a check is mailed within a few weeks. The IRS says it issues most refunds in 21 days or less. Interruptions due to the pandemic or other situations at the IRS could delay refunds.

1b: For paper-filed tax returns, the wait is much longer especially during the pandemic. Based on recent conversations with IRS personnel, the wait could be from 8 months to a year from the time the tax return is mailed. Other situations at the IRS could delay refunds as well.

 

Q: How do I check on the status of my refund?

A: The IRS has a refund status tool on their website: https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp

 

Q: Can I pay my IRS tax bill online? How do I do it?

A: Yes, the IRS does accept online payments via their website, https://www.irs.gov/payments.

If paying from a checking or savings account there is no fee and the process is completed directly on the IRS’ website, https://www.irs.gov/payments/direct-pay. Most common tax payments for individuals can be made on this website including Form 1040, 1040A and 1040EZ tax return payments as well as extension and estimated tax payments for those same forms.

If paying via debit or credit card, the IRS utilizes third-party processors that charge fees based on the type of card used.  The options and costs are available on the IRS’ website, https://www.irs.gov/payments/pay-your-taxes-by-debit-or-credit-card. Most individual and business taxes can be paid via debit or credit card. However, employment taxes cannot be paid in this way.

We can also tell the IRS to electronically withdraw the amount due from your bank account when we electronically file your income tax return. We will need your account type, number, routing number and the date you want it paid (up to the original due date of the return).

Another option is to establish an account with the IRS’ EFTPS system, https://www.eftps.gov/eftps. This process does require a PIN be physically mailed to you after your account is created before any payments can be made, which can take several weeks to arrive.

*** IMPORTANT NOTE – If you setup an online account with the IRS, be sure your password is secure. We recommend a unique password specific to your IRS account that is substantially long, includes upper- and lower-case letter, numbers and symbols. Your personal information accessible through your IRS account is highly sensitive and should be protected with a robust password.

 

Q: The checks I wrote the IRS haven’t cleared my bank, how do I know they were paid on time?

A: Generally, taxes are due by the original due date of the tax return and the date the checks were mailed (postmarked) is the date the IRS will record the checks as “received” within their system. However, it is important to save proof of when payments were mailed in case the IRS loses the payment or miscodes it in their system. We recommend sending all IRS’ related items via U.S.P.S. certified, return receipt and making a full copy of everything mailed saved in your tax records as proof should the IRS ever question what happened.

Making IRS payments electronically can simplify the process and help reduce the likelihood of errors or lost information. Please reference our other FAQ on paying IRS tax bills online.