Individual returns are due 4/15/2017 and we extend them until 10/15/2017
Please get us your info by March 15th at the latest!
We will make every effort to complete your return on time if you meet the submission guidelines above. Please don’t submit your file until it is at least 90% complete. And if you are waiting for information, please include a note to let us know.
Very important - For returns that are not submitted one month in advance of the deadline, we will not be able to provide any guidance on what you should pay with the extensions (We won’t have everything in the software). Likewise, we will provide 1st quarter estimated tax payment coupons based on your 2015 tax return.
We automatically file Federal and state extensions for all returns. This allows us extra time to prepare your return so we can take the time to get things right, and it allows additional time to make employer (or self-employed) retirement contributions.
But filing an extension does NOT give you extra time to pay. Payment in full is still due 4/15.
PENALTIES & INTEREST
Filing Late (means filing after the extension date of 10/17): The Federal penalty is 5% per month (ten times as high as the penalty for paying late).
Paying Late (means paying after the due date of 4/15): The Federal penalty is .5% per month.
Interest (after the due date): The Federal interest rate changes each quarter. Lately it’s been running about 3-4% per year.
MD penalties and interest: 13%
TAX RETURN PREPARATION
We will carefully prepare your tax return from the information you submitted. The quality of the input is directly related to the quality of the finished product. We will take the time to ask about anything that’s not clear, and we’ll also try to ask about what we think we might be missing. And we encourage you to ask questions too!
We do not make any attempt to discover fraud or other irregularities.
WHAT YOU CAN EXPECT
Here’s how our tax process works:
1. You submit this tax questionnaire and other information.
2. The admin team makes sure the information is complete and then they scan the file.
3. One of the tax preparers begins the data entry. Usually additional information is requested and received before the data entry can be completed.
4. Then the file is passed on to Marla or Ken. We go through our checklist and get in touch to request additional information and discuss everything before finalizing the return. Then we let you know the balances due (or refund amounts) as well as the estimates for 2017.
5. The return is either sent to the portal or printed for the admin team to make the packet for you to pick up, or for us to mail.
6. You review the return to make sure everything looks correct. This is an important step and cannot be skipped. We’ll be happy to answer any questions!
7. You sign and return the e-file authorization forms to us (We do not need original signature. And you provide us with some form of payment for our services (check, MC, VISA or authorization to draft your bank account).
8. We transmit the returns to the IRS and state(s).
9. We verify that the returns were accepted.
TAX RETURN PRICING
Our pricing is based on the forms needed and complexity of the return. If we did your return last year, you can expect your fee to be within 10% of last year’s fee, unless you added a state or had other transactions that require additional forms. For both new and returning clients, we’d be happy to give you a quote prior to starting your work. Please let us know if you’d like a quote.
*PLEASE NOTE PAYMENT IS DUE UPON COMPLETION OF RETURNS.