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Frequently Asked Questions – J. Morgan Nutt, CPA
J. Morgan Nutt, CPA

Frequently Asked Questions

Tax Deadlines

  • For  partnerships and corporations with a calendar year, federal income tax returns are due on March 15, 2017.
  • For individuals and partnerships, federal and state income tax returns are due on April 18, 2017.
  • For individuals, the installment of federal and state estimated taxes are due on April 15, 2017, June 15, 2017, Sept 15, 2017, and Jan 15, 2018.
  • Property tax returns to report tangible and intangible property are due on May 15, 2017.

When is the earliest I can file my taxes?
The Internal Revenue Service has announced  that the nation’s tax season will begin Monday, Jan. 23, 2017.  This means Monday, Jan. 23, 2017 is the first day in which Tax Returns may be filed.

Electronic Filing:
We are an authorized IRS e-file provider and offer you all the benefits of e-filing.

What is IRS e-file?
IRS e-file is an electronic tax-filing service available to individuals. It is the fastest way to file taxes – and get your refund in half the usual time.

What do I gain by using IRS e-file?
Fast electronic filing. Fast proof of acceptance. Fast refunds. Peace of mind. Security. We transmit your tax return from our computers to the IRS. Click. Zip. Your return is in. Within 48 hours the IRS sends us proof that it has been accepted. Only IRS e-file offers this advantage.

How accurate is IRS e-file?
It is virtually error-proof. IRS e-file is so accurate it greatly reduces the chance that you’ll get “one of those letters” from the IRS.

What about my signature?
You simply sign the signature document, Form 8879, and we take care of the rest.

Do I really get my refund faster?
You’ll get it back in half the usual time. It’s even faster if you have your refund directly deposited to your bank account.

What if I owe a balance due? Why should I want the speed of e-file?
You can file now, pay later, and beat the last-minute rush. No matter when we e-file your return, you don’t have to pay what you owe until later (as late as April 15). In the meantime, you have a fast, electronic proof of acceptance from the IRS.

Where else can I get additional information about IRS e-file?
Call us, visit the IRS web site at http://www.irs.ustreas.gov/ or refer to your tax booklet.

Is there a fee for IRS e-file?
We’ll be glad to explain our fees for tax preparation and e-filing. Our fees are not based on any figures from your tax return. The IRS does not charge a fee for e-filing.

Can my state tax return be e-filed with a Federal return?
In most cases, yes. Ask us about this service.

How do I pay?
You have many choices this year. You can authorize a direct transfer from your checking or savings account as part of your return. With this option you can delay when the money comes out of your account until later–as late as April 15. You can also pay by phone using a credit card by dialing 1-888-2-PAY-TAX and entering a jurisdiction code of 1040. You can still pay by check or money order.

If I choose the direct transfer option and delay payment, can I be sure the money won’t be withdrawn sooner?
Money will not be withdrawn from your account before the date you specify. However, if you designate a weekend or bank holiday, the payment will not be withdrawn until the next business day because the U.S. Treasury can settle payments only on business days.

What confirmation of payment will I receive?
Your confirmation will be your bank statement and your copy of your electronically filed return, which includes your direct transfer authorization.

Can I make my payment on or after April 15?
You can designate the payment to be made up to and including April 15, but not after that date. Your payment will be considered timely if your electronic return is transmitted and accepted on or before April 15. Note: Some transactions may take a day or two longer, due to circumstances beyond the control of the IRS. Therefore, we suggest that all payments be scheduled for transaction at least two business days before April 15.

What if later I want to cancel or change my designated payment date?
Once your IRS e-file return is accepted, you cannot change your designated payment date. If you need to change the date, your only option is to cancel the transactions and send a check for the correct amount. You may cancel a payment ONLY if Treasury receives cancellation instructions by the morning of the business day prior to the day that you designated as your payment date. The cancellation must be authorized by you or by a person with access to your Taxpayer Identification Number (TIN), payment amount, and bank account number. Please call 1-888-353-4537 toll-free if you need to cancel a payment.

Can I make partial payments?
You can make a payment for less than the balance due amount on your return. However, you are responsible for paying the remaining balance due by April 15 or you will be subject to late payment penalties and interest. If you cannot pay in full by April 15, you should file Form 9465, Installment Agreement Request. An approved Installment Agreement allows you to make a predetermined series of partial payments after April 15 and includes interest charges since these payments are considered late.

If I do not choose to pay electronically when I file my electronic return, can my tax preparer initiate an electronic payment for me at a later date?
No. An electronic payment is initiated only at the time an electronic return is filed.

If I give the IRS access to my bank account number, what else can they do?
Nothing. The IRS will use your direct transfer authorization ONLY for this one payment–to deduct the amount you designated at the time that you filed your electronic tax return.