| Frequently Asked Questions |
Why come to us instead of going to a national chain tax service?
♦ Our tax office is open year round, and we encourage our customers to contact us throughout the year with their tax questions.We provide personal attention to your tax situation.
♦ Each customer is given a private appointment time. We take the time to ask questions that are designed to help you pay only the taxes you owe.
♦ If you are a new customer and provide us with the previous year's tax return and information, we will review that return for free. Many times we have found a mistake or something that was overlooked. We can file an amended return if requested.
♦ You will see the same experienced tax preparer each year and an Enrolled Agent will review your return.
♦ We get to know you as an individual and can provide guidance on decisions that will affect the taxes you pay in the future.
♦ We provide professional, timely, confidential services at a very reasonable cost.
Why have an Enrolled Agent prepare your taxes?
♦ An Enrolled Agent (EA) is an individual who has demonstrated technical competence in the field of taxation. EAs are licensed by the U.S. Treasury Department and can represent taxpayers in all 50 states. The Internal Revenue Service (IRS) is an agency under the U.S. Treasury Department.
♦ EAs are knowledgeable about all aspects of the tax code, rules and regulations.
♦ EAs are required to obtain continuing education every year, ensuring continued competence and expertise.
♦ Only EAs, attorneys, and Certified Public Accountants (CPAs) may represent taxpayers before the IRS at all administrative levels. If for any reason you are called to appear before the IRS, and we prepared your return, we will be able to represent you effectively.
Questions about Enrolled Agent:
What does an Enrolled Agent Licensed to Practice Before the IRS mean?
An EA is a federally-authorized tax practitioner who has technical expertise in the field of taxation and who is empowered by the U.S. Department of the Treasury to represent taxpayers before all administrative levels of the IRS for audits, collections, and appeals. EAs advise, represent, and prepare tax returns for individuals, partnerships, corporations, estates, trusts, and any entities with tax-reporting requirements. Unlike attorneys and CPAs, who may or may not choose to specialize in taxes, all enrolled agents specialize in taxation and may only receive the EA designation after demonstrating their competence before the IRS.
What are the differences between EAs and other tax professionals?
Only EAs are required to demonstrate to the IRS their competence in matters of taxation before they may represent a taxpayer before the IRS. Unlike attorneys and CPAs, who may or may not choose to specialize in taxes, all EAs specialize in taxation. EAs are the only taxpayer representatives who receive their right to practice from the United States government. (CPAs and attorneys are licensed by the states.)
Can an EA practice in one state and represent the client from another state?
Yes. Since they are nationally registered, an EA can appear before the IRS in any state.
Are EAs bound by any ethical standards?
EAs are required to abide by the provisions of the Department of Treasury's Circular 230, which provides the regulations governing the practice of EAs before the IRS.
Who is an ERO?
If you want your return processed quickly - or are worried about accuracy - consider using an Electronic Return Originator (or ERO). They are among the 124,000 tax preparers who are authorized by the IRS to file electronic returns. In fact, it's against the law to file other people's returns electronically without the ERO status.
Electronic filing and refund/balance due questions:
What is the quickest way to get my refund back?
By filing the tax return electronically and getting the refund directly deposited in your bank account.
What is electronically filing a return?
When we electronically file a return it is sent from our computer to the IRS's computer.
What are the advantages to electronically filing?
The advantages are accuracy and increased speed of refund. In order to be electronically filed, a return must be mathematically correct. The IRS also checks all SSN's and EIN for accuracy and previous use. Most of these problems can be quickly resolved and re-submitted. Once accepted by the IRS, the refund takes about 2 weeks to reach you.
Can I electronically file my Illinois return also?
Yes, generally it is transmitted at the same time as the federal return.
I have a refund coming back, can you tell me when it will be here?
Once we know how and when your return is being filed, we can generally give you an idea based upon information the IRS gives us.
Is there a way to check on my refund?
Yes, click here to check the status of your refund on IRS website. You will need to have the primary SSN on the return, the refund you are expecting, and your filing status.
Can I have my refund direct deposited to my account?
Yes, the Federal and State refunds can be direct deposited.
I owe, can I pay by credit card?
Yes
Tax Questions:
Do I have to file a return?
That depends on your age, filing status, and amount of income. The rules are also different for each state involved. The specifics can be very complicated. It is also important to understand that while you may not be required to file a return you may want to file to get withholding back or if you qualify for Earned Income Credit.
What is Earned Income Tax Credit (EITC)?
EITC is a refundable credit. The amount of the refund is based on the amount of income from a job or self employment received during the year and whether there is no, one, or more qualifying children in the home. The definition of a qualifying child and refund amounts change each year.
I don't have the money to pay all my tax now. What can I do?
The IRS allows you to make installment payments. You will need to file form 9465 with the return or notice. There are some special requirements for this form. It will stop the non-payment penalties but interest will continue to build. There is a set up charge.
Can't I just file an extension?
An extension only gives you more time to complete the return. It does not put off paying the amount you will owe. The form requires that you estimate the tax you will owe and sent that in with the extension. All penalties and interest are based on the amount you owe.
What is the underpayment of estimated tax penalty?
This is a special penalty the IRS and the states add to a balance due when you owe more than they think you should owe.
What is your guarantee?
We are confident in the quality of our service. The Internal Revenue Code is a confusing collection of laws and interpretations.
We use our experience and training to prepare your tax return as accurately as possible. Should a problem arise, we will back you to the full extent allowed by law. But remember, the tax is always your responsibility.
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