5 Star Tax Pros

01/29/2024

The Internal Revenue Service opened the 2024 tax season today by accepting and processing federal individual tax returns. The IRS expects more than 146 million individual tax returns for 2023 to be filed this filing season. The current IRS deadline for the 2023 season is April 15, 2024.

The IRS also reminds taxpayers that a trusted tax professional can prepare their tax return and provide helpful information and advice.

We are here to help if you need us!

5 Star Tax Pros is a full-service tax firm, serving Los Angeles County with over 16 years of experience. Our team of professional and knowledgeable tax preparers are here to help you with all of your tax needs. Whether you need help with personal or business taxes, we are committed to providing you....

01/05/2022

April 15 is traditionally tax deadline day for the Internal Revenue Service. That’s not the case in 2022, however, and the change has to do with a holiday in the federal capital.

Because the April 16 holiday this year falls on a Saturday, it will officially be observed on the closest weekday – Friday, April 15 – closing city and federal offices in D.C. That means the tax day deadline is getting pushed back to Monday, April 18 for everyone except residents of Maine and Massachusetts. Residents in those states must file by April 19 since April 18 is Patriots’ Day.

April 18 will also be the deadline to request an automatic extension for an extra six months to file a return and for payment of taxes due.

Other deadlines

Employers have until Jan. 31 to send W-2 earnings forms.

The IRS has not announced the day it will begin accepting 2021 returns. Last year, the IRS began accepting tax returns on Feb. 12, roughly two weeks later than the year before.

Generally, about 90% of filers receive their refunds within 21 days when they file electronically and there are no issues with the return.

01/06/2021

Dear Tax Payer,

Please note that if you did not or do not receive your first or second stimulus payment, your tax preparer will be able to apply for that monies on your 2020 tax return. YOU WILL NOT LOSE IT!!

Please make sure to give your tax preparer the accurate amounts you received. If any of the information is incorrect the IRS will delay your payments.

We are all in this together!

Sincerely,
5 Star Management

visit our website for more Covid-19 information and our services www.5startaxpros.com

Here at 5 Star Tax Pros we attack each project with unbeatable service and attention. We ensure success for every client we get the pleasure to assist.  Our services extend to Corporate assistance, payroll, book keeping and more!

01/04/2021

Go to IRS.GOV today to check the Status of Your Economic Impact Payments:

Get My Payment will let you confirm:

1. That we sent your second Economic Impact payment, also known as a stimulus payment.
2. That we sent your first payment. Some people received their first Economic Impact Payment in partial payments. If you received partial payments, the application will show only the most recent.
3. Your payment type: direct deposit or mail.
4. Data is updated once per day overnight, so there's no need to check more than once per day.

Please do not call the IRS about the second stimulus payment; their phone assistors do not have additional information.

Also note that because the IRS is sending stimulus payments this month and this information is being added to the 1040 form when you file your taxes, please file your taxes after you receive your stimulus and receive all of your W2 and 1099 forms! You don't want any additional delays because you didn't file your return correctly!
We cam help! Call today or visit our website www.5startaxpros.com

Here at 5 Star Tax Pros we attack each project with unbeatable service and attention. We ensure success for every client we get the pleasure to assist.  Our services extend to Corporate assistance, payroll, book keeping and more!

12/07/2020

Don't get caught by surprise!! If you normally qualify for Earned Income Credit (EIC) when filing your taxes but you collected unemployment in 2020. Your EIC may be reduced or eliminated. Please call for more info 424-750-9290. We can help you understand how this works.

IR-2020-185, August 18, 2020 — With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Service today reminded people receiving unemployment compensation (beneficiaries) that they can have tax withheld from their benefits now...

12/03/2020

Did you miss the deadline to register online for the Economic Impact Payment?
You may still be eligible to receive a payment in 2021 if:
You did not register online, by mail and did not get a payment in 2020 or,
You received a payment, but it wasn’t the full amount of the Economic Impact Payment. The maximum credit is $1,200, or $2,400 if married filing jointly, plus $500 for each qualifying child.
Then:
When you file a 2020 Form 1040 or 1040SR you may be eligible for the Recovery Rebate Credit. Save your IRS letter - Notice 1444 Your Economic Impact Payment - with your 2020 tax records. You’ll need the amount of the payment in the letter when you file in 2021.
Call us today for more information 424-750-9290 (direct)