Tag: BOOKS TAXES AND MORE
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The Biggest Mistake After Filing Your Taxes: Waiting Until Next Year to Plan
The biggest mistake after filing taxes is waiting until next year to plan. IRS processing continues, current year’s income builds, and inaction allows problems to repeat. This blog explains why post filing planning matters and how early action improves outcomes, reduces surprises, and keeps taxpayers in control of their tax situation.
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Filed But Didn’t Pay? What the IRS Does Next and What You Should Do Now
Filing your return without paying does not end the tax process. It starts IRS collection activity, including notices, penalties, and interest. This blog explains how the sequence works, why delay increases risk, and what taxpayers should do immediately after filing to stay in control and avoid escalating problems.
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Tax Season Is Over but Your Tax Risk Is Not: What Smart Taxpayers Do Next After Filing
Tax season may be over, but IRS processing, information matching, notice activity, and planning exposure continue after a return is filed. This blog explains why filing is only the start of the next phase and why smart taxpayers review, adjust, and act early to avoid future problems and missed opportunities.
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C-Corp Elections and Tax Adjustments That Must Be Handled Before Filing
Some C-Corp tax decisions cannot be handled casually after filing. This blog explains why late-season corporations need to review bonus depreciation elections, de minimis safe harbor statements, partial disposition losses, and certain start-up cost decisions before filing Form 1120 rather than assuming amended returns will solve everything.
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What Individual Filers Can Still Fix Before Filing and What They Cannot Change After Filing
Many individual filers assume they can submit a return now and adjust important items later. This blog explains why that is not always true, focusing on child-related identification requirements and joint-versus-separate filing elections that can become much harder, or impossible, to change after filing.
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What You Still Have Time to Fix Before Filing, and What Becomes Harder to Undo After You Submit
In the last week of March, taxpayers still have time to fix missing documents, verify deductions, and decide whether filing now is wise. Once a return is filed, corrections often become formal, slower, and more visible. Filing quickly is not always the same as filing correctly.
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How Incomplete Business Books Create Tax Problems at Filing Time
Incomplete business books do more than slow down tax prep. They reduce filing options, compress judgment, and increase the risk of incorrect returns, amendments, and lost time. Filing season problems often begin with unreconciled records, not tax forms. Earlier cleanup preserves leverage and supports better tax decisions.
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IRS Tax Tip 2025-70 What Taxpayers Must Do Now
IRS Tax Tip 2025-70 urges taxpayers to prepare now for the 2026 filing season. With new reporting requirements and expanded deductions, early planning is critical. Steve Perry, EA helps individuals and businesses organize records, avoid IRS notices, and file accurately while maximizing every available tax benefit.
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Adoption Tax Credit Updates You Need to Know for 2025
IRS Tax Tip 2025-71 highlights updates to the adoption tax credit that can significantly reduce federal taxes for adoptive families. The credit has strict rules, documentation requirements, and income limits. Steve Perry, EA helps families claim the credit accurately, avoid IRS notices, and protect their refunds.
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IRS Voluntary Disclosure A Safe Path To Catch Up
IRS Voluntary Disclosure allows taxpayers to resolve problems safely before the IRS acts. Immediate, truthful action is required, full payment is expected, and Steve Perry EA delivers unmatched advocacy, strategic guidance, and proven results for Georgia business owners. Don’t wait, protection closes when the IRS contacts you.
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