IRS will begin accepting 2022 tax returns on Monday, January 23, 2023. We can prepare your return before that date and have it ready when IRS opens their doors.
Personal Tax returns will be due Tuesday, April 18, 2023.
Secure Portals – Although we made this available last year for the first time, many of you may choose to take advantage of this secure way to transfer information with us, in order to protect your personal and financial information. This method of exchanging documents can be used to make your tax preparation entirely safe, paperless and contactless.
ID.me – Create an IRS account on irs.gov to view your information such as: transcripts, estimated tax payments, balance due, refund status, and how much you received in Advance Child Tax Credit payments and stimulus payments. IRS has contracted to use the 3rd party company of ID.me to establish a secure login process that will verify your identity and reduce fraud.
Kansas City Earnings Tax Refunds - If your employer withheld KC-E-Tax and you did not physically work in KC, you can apply to receive a portion of the withholding back as a refund. New for 2022 - To receive a refund for tax year 2022, You must file a protest by
January 30, 2023 or your request for a refund will be denied!!! This protest form is form KC RD-PUP and can be filed online at the following link: https://www.kcmo.gov/home/showpublisheddocument/8631/637952948289430000.
Charitable Contributions - For the last two years you could deduct up to $300 per taxpayer/spouse for charitable donations, even if you did not itemize. This tax provision is no longer available on the 2022 return.
Energy and Clean Vehicle Credits - There are big changes coming for 2023 and we will have a link set up after tax season that will explain the newly increased Solar credit. The EV credit for vehicles is a good credit, but has many IRS qualifiers. Don't just assume you get the credit because the salesman said so. Call our office BEFORE you purchase a new electric vehicle!
1099K's - income reporting requirements - IRS has delayed the required reporting of income received and reported on form 1099K until your 2023 tax return. Even though the IRS delayed the reporting, most companies will send them out for any 2022 income you received from credit card payments, Venmo, PayPal, Amazon, Square and other cash or gaming apps. Please bring the forms with your tax documents.
2022 Mileage Rates - Due to the increase in gasoline and vehicle costs, the IRS increased the mileage rate deduction in the middle of the year. You must report business milage Jan 1 through June 30 at .58 1/2 cents and then July 1 through December 31 at .62 1/2 cents.
the 2023 Mileage rate will be .65 1/2 cents per mile.
What’s NOT new is that we LOVE our clients and being able to serve you.