Surround Yourself With Assets

The IRS has a handy tool called “Where’s My Refund” that can give you a real-time answer. All you’ll need is your social security number, your tax filing status, and the exact amount of the refund you are expecting. Go to the IRS Refunds page.

Please note that we are seeing a longer turn-around on refunds due to Stimulus Payment matching and calculations, as well as reduced staffing and capacity at the IRS. Continue to check the refund tool, and know that you may see a status of “Return is being processed” for several weeks to months.

The SSA allows you to create an online account where you can find your statement, change your address and start or change your direct deposit information along with many other features. Learn more at the SSA Online Services page. 

A lot! Contrary to popular belief, there are many more tax deadlines than just April 15. While the April deadline is the most famous, every deadline is equally important to the IRS and multiple state agencies. If you really want all the details, give us a call and we’ll give you an exciting laundry list of deadlines. 

Nope! This is a common misconception. An extension gives you 6 extra months to file your tax return, only. If you owe tax, you must pay your tax due by the initial deadline of April 15. If payment is made after that date, the IRS will add penalties and interest to the amount owed. We can help with extension estimates; you just have to let us know you think you might owe tax!

Our condolences. The amount and type of inheritance you receive could greatly affect your tax return for that year and future years. A CPA, along with a financial adviser, and possibly an attorney, can help guide you towards making smart tax and financial decisions for your situation, especially when you are the recipient of an unexpected windfall. 

Whether minor or major, changes in your life and the IRS tax code are inevitable. We created our questionnaires to help us identify missing items early on in our process. By completing the questionnaire, you save us time and it saves you money when potential changes are identified upfront in the process. 

Truth is that tax returns can be simple or complex. Also, we are human, and life happens. Our turn-around time is dependent on the complexity, completeness, and timely receipt of tax documents. We try to set reasonable turn-around expectations when you send documents to us; however, we also have families and require sleep, so we may get to a point where we ask you to consider filing an extension.

Don’t get the pyrotechnics out just yet! Many requirements span 7 years, some longer, some shorter. To get the skinny before you light it up, give us a call so we can determine the actual party date. 

We as a firm have made the strategic decision to eventually be a completely virtual office. The roadmap to getting us to that point requires that clients start to become familiar and comfortable with the security tools we are now utilizing.

Receiving documents in an electronic format can greatly increase our efficiency. The most important factor to remember is that sending electronically must also be secure! We have several different tools available to clients to help facilitate a secure and streamlined transfer system for documents. See our resource list above.

At BWCO CPAs, we believe in lifelong journeys, including creative ones. We want to differentiate our firm from others in the field and like to stretch our creative muscles by changing how our website looks and feels at least once a year. We enjoy staying up to date with the latest trends in web design, and speaking of which, check out our AI-generated profile pictures on our Team page! Maybe we are crazy, but we absolutely love the creative outlet the design changes allow us!

15 -Texas franchise tax filings or extensions are due
15 –Non-profit tax return filing or extension deadline
20 –Sales tax filing deadline