Elma's Tax Service LLC

03/13/2026

NYS Tax Dept. Calculation Error Letters-

If you receive a letter regarding a calculation error on your 2025 NYS tax return. Please send them to the office. As of right now, the fix is that we need to protest the adjustment or balance due in order to resolve it. NYS does not have a overall fix in place to recalculate all affected returns filed before 3/6/26. Taxpayers accross the state are affected and the tax department should be able to fix what they messed up but again are putting the burden on the taxpayers to tell them about the agency error.

Thank you.

02/06/2026

Partnerships and S Corporations must file their tax returns on time...or else. Here is the penalty.

Over the past few years, the IRS has penalizing late filers of sub S corporation and partnership tax returns. This despite the fact that late filing of the tax return does not typically impact the timely payment of the tax.

02/04/2026

A little preparation can make tax season smoother. This month's newsletter shares tips for early organization, avoiding IRS issues, cutting hidden costs, and helping protect your kids online.

A little preparation can change the entire tax return experience. In this month's newsletter, read about how getting organized early with a clear checklist can help you gather the right information and avoid last-minute pressure. You'll also learn how spotting easy-to-miss income sources can help yo...

01/30/2026

Understand contemporaneous or pay the price. An IRS term with meaning.

The Internal Revenue Service has a vocabulary of their own. One of the more important is their use of the word "contemporaneous". What does it mean, and why should you care?

01/28/2026

If you received a NYS Inflation Refund Check in summer or fall 2025 ($200–$400), here’s an important reminder for tax filing

• The refund is taxable to the IRS
• NYS issued a 1099-G
• The form was not mailed — it’s only available online

Although everyone cashed or deposited the check, you still need the amount to report it correctly.

That information can come from the 1099-G, a digital deposit record, or the paper the check was attached to.

Retrieve the 1099-G here:
👉
https://www.tax.ny.gov/pit/file/1099g.htm

01/23/2026

The 10% early withdrawal penalty does not always need to sting you. Here are ways to leverage retirement assets without that penalty.

While it is not a good idea to tap retirement accounts prior to retirement age, sometimes it cannot be avoided. What can often be avoided, however, is the punitive 10% penalty for early fund distributions. Outlined here are exceptions to the 10% penalty rule.

01/16/2026

The IRS increased the standard business mileage rates for 2026. Here are the details.

Here are the standard mileage rates for 2026.

01/09/2026

Reminder: Q4 estimated tax payment is due Thursday, January 15, 2026.

Plan now to make your 4th quarter estimated tax payment.

01/07/2026

Smarter tax moves, simple ways to stay organized during tax season, solid money ideas, and tech changes already shaping daily life. Here's a quick read with value that lasts beyond January.

Happy New Year! With the holidays behind us, it's time to summarize last year's activities and prepare to file your 2025 tax return. So as you wait to receive the needed documentation, why not consider squeezing in a tax-savings New Year's resolution? This month's newsletter outlines three to consid...

01/02/2026

The time to organize your tax records is now. Here are some suggestions.

Looking for some ideas to make filing your taxes less cumbersome? Here are some tips.

12/26/2025

Holiday season also marks the start of tax identity theft season. Here are some tips.

Now is tax theft season. Here are some tips to ensure you aren't snared in their trap.