Steen Tax and Notary Service

07/16/2024

Just added another Certification to my skill set!!

Notary Coach has trained over 7,000 professional mobile notaries and is the home to the most advanced and practical notary training in the United States. They offer programs and certifications designed to elevate the office of the notary public, and showcase credentialed professionals that demonstra...

01/24/2022

Tax season kicks off today, January 24th. That means taxpayers can officially start filing their 2021 tax returns with the Internal Revenue Service today. But there are signs the agency isn't prepared to handle the strain. Citing a mountain of unprocessed returns from last tax season. So be patient and file an accurate tax return.

05/12/2020

HAVEN'T RECEIVED YOUR CORONAVIRUS STIMULUS CHECK YET? SUBMIT YOUR DIRECT DEPOSIT INFORMATION BY MAY 13TH.

Those still waiting on a coronavirus stimulus relief check are facing a major deadline if they want to receive their payments as soon as possible.
If you haven't received a direct deposit payment yet(or paper check), and the IRS does not have your bank account information, you need to submit it via the IRS's Get My Payment tool by noon on Wednesday, May 13.
Otherwise, you will have to wait for a paper check, which could take months to receive. The IRS is preparing to send out millions of paper checks for May and June arrivals. The IRS began mailing checks at the end of April, and expects to issue new rounds through September, until everyone who is eligible to receive one does.

04/17/2020

IS THERE ANYTHING I CAN DO TO GET MY CORONAVIRUS CHECK FASTER

There are really only two things you can do to speed up this process:

1. File a 2018 or 2019 tax return if you're not receiving Social Security benefits.
2. Sign up for direct deposit or update your bank account information if you haven't already once the IRS makes it's portal available. Check https://www.irs.gov/coronavirus frequently, as that's where the IRS is posting all key information related to coronavirus relief.

If you've done those two things, the only thing you can do is
SIT BACK AND WAIT

We are offering help for taxpayers, businesses, tax-exempt organizations and others – including health plans – affected by coronavirus (COVID-19).

04/17/2020

HOW DO I SIGN UP FOR DIRECT DEPOSITS?

If you haven't signed up for direct deposit via the IRS or Social Security- or if the information they have on file is for a bank account you've closed-- There's still a way to update it.

The IRS is building a web portal that would allow you to set up and update that information. The feature will probably be available and updated from now to early May, according to a memo from the House Ways and Means Committee.

If you haven't filed your 2019 tax return yet, you should do so ASAP so the IRS has your updated bank account information.

If you've closed your bank account and the IRS tries to deposit your payment to that account, the funds will ultimately be sent back to the IRS. The IRS will eventually mail your check to your last known address if you don't update your account information in the portal once it's available.

04/15/2020

WHEN WILL I RECEIVE MY CORONAVIRUS CHECK?

Here's the time frame for receiving your stimulus check, as reported by the Post:
APRIL 9: The first direct deposit payments will be made. The majority of these deposits will be available by April 15 at the latest.
APRIL 24: Paper checks will be mailed out to people with adjusted gross incomes (AGIs) of $10,000 or less who don't have direct deposit information on file with the IRS.
MAY 1: Checks will be sent to people with AGIs of $20,000 or lower. Each week, another round of checks will go out to those whose incomes are within the next $10,000. So on May 8, checks will be mailed to those with AGIs of $30,000 or less. On May 15, they would go out to those whose AGIs are $40,000 or less, etc.
SEPT 4: The final checks would be mailed to eligible taxpayers with the highest AGIs.
SEPT 11: Checks will be mailed to people who need to apply for payments because the IRS doesn't have tax information available for them.

04/08/2020

Economic Impact Payment (EIP) Return
The Treasury Department announced that Economic Impact Payments (EIP) will be distributed automatically, with no action required for most taxpayers. HOWEVER, taxpayers who have not had a filing requirement for the last two years and don't receive Social Security payments should file a "simple" EIP return in order to receive their payment from the IRS.

Note: Only taxpayers with a Social Security Number will receive an EIP. Most spouses must have a Social Security Number. If the spouse has an ITIN and is the spouse of an active member of the US military, an EIP can be claimed by checking the box for "EIP Military Spouse with ITIN".
If you have any questions completing this "simple" EIP return, please contact me. Stay Healthy.

02/19/2020

WHERE'S MY REFUND?
Taxpayers can get fast answers to their refund questions by using the "Where's My Refund?" tool available on IRS.gov and through the IRS2Go app.The question most frequently asked this time of year is "Where's My Refund?" The IRS reminds taxpayers the IRS customer service representatives can only research a refund's status if it has been 21 days or more since the taxpayer filed electronically or six weeks since they mailed a paper return. Taxpayers can avoid long waits on hold with the IRS' automated phone line by using the "Where's My Refund" tool instead.

All that is needed is the taxpayer's Social Security number, tax filing status, and exact amount of the tax refund claimed on the return. Within 24 hours of filing a return electronically, the tool can tell taxpayers that their return has been received. That time extends to four weeks if a paper return is mailed to the IRS, which is another reason to file electronically and choose direct deposit.Once the return is processed,"Where's My Refund" will tell a taxpayer when their refund was approved and provide a date when they can expect to receive it. The tool is updated no more than once every 24 hours, usually overnight, so taxpayers don't need to check the status more often.

As a reminder, by law, the IRS cannot release refunds for Earned Income Tax Credit or Additional Child Tax Credit tax returns before mid-February. "Where's My Refund" will be updated with projected deposit dates for most Earned Income Tax Credit/Additional Child Tax Credit refund filers by Feb. 22.
The IRS expects most EITC/ACTC related refunds to be available in taxpayer bank accounts by the first week of March.
As always, if you have any questions about your return filed through Steen Tax and Notary Service, please do not hesitate to call Harold Steen at (626) 485-6863.

02/11/2020

Many Taxpayers Don't Realize They Could Benefit From The Earned Income Tax Credit

The Earned Income Tax Credit (EITC) benefits millions of taxpayers who quality by putting more money in their pockets. This money can help with things like food, gas, clothing, and even saving for a rainy day. Yet some people often miss out on claiming the credit because they do not realize they are eligible to claim it.
For example.Grandparents who work and are also raising grandchildren may be eligible for EITC. The grandchild must meet the qualifying child requirement for EITC. *Special rules and restrictions apply if the child's parents or other family members also qualify for EITC. Eligible grandparents must file a tax return and claim the credit, even if they don't owe any tax or aren't required to file.
Taxpayers living in rural areas and small towns also may not realize they qualify for ETIC. To get the credit, the taxpayer must file a tax return and claim the credit, even if they don't owe any tax or aren't required to file. Unmarried workers without a qualifying child who earn less than $15,570 may quality for a smaller amount of the credit.
To determine if you qualify for ETIC, you can use the ETIC Assistant on the IRS website. Available in English and Spanish, this tool also estimates the amount of the taxpayer's credit.

02/03/2020

Steen Tax Service: Don't Be A Victim to "Ghost" Tax Preparers!
With the start of the 2020 tax filing season, Steen Tax Service is reminding taxpayers to avoid unethical "ghost" tax return preparers.
What is a "ghost" tax preparer? A ghost preparer is someone who charges you to prepare your return but does not sign the returns they prepare. Unscrupulous ghost preparers will print the return and tell the taxpayer to sign and mail it to the IRS. For e-filed returns, the ghost will prepare but refuse to digitally sign as the paid preparer. Ghost preparers may also:
Require payment in cash only and not provide a receipt
Invent income to qualify their clients for tax credits
Claim fake deductions to boost the size of the refund
Direct refunds into their bank account, not the taxpayer's account.
By law, anyone who is paid to prepare or assists in preparing federal tax returns must have a valid Preparer Tax Identification Number, or PTIN. Paid preparers must sign and include their PTIN on the return. Not signing a return is a red flag that the paid preparer may be looking to make a fast buck by promising a big refund or charging fees based on the size of the refund.
Steen Tax Service urges taxpayers to choose a tax return preparer wisely. At Steen Tax Service, a properly skilled and licensed preparer will maximize your return without using illegal or questionable methods, and will be available to advise you should the IRS question any legitimate deductions.
No matter who prepares your return, review it carefully and ask questions about anything not clear before signing. Taxpayers should verify both their routing and bank account number on the completed return for any direct deposit refund. If you suspect you are a victim of an unscrupulous tax preparer, you can report preparer misconduct to the IRS using IRS form 14157 or 14157-A

01/28/2020

Today, January 27, 2020 marks the opening of the 2020 tax filing season. While the IRS free File program as well as many tax software companies and tax professionals began accepting tax returns earlier this month, processing of those tax returns begins as the IRS begins accepting and processing federal tax returns for the year 2019 today.
The deadline to file a 2019 tax return and pay any tax owed is Wednesday, April 15, 2020. More than 150 million individual tax returns for the 2019 tax year are expected to be filed; the IRS estimated about 90 percent of those returns will be filed electronically.
Filing electronically and choosing direct deposit remains the fastest and safest way to file an accurate income tax return and receive a refund. We at Steen Tax Service use the latest most accurate software to help you maximize your refund and receive your funds quickly and safely. Call us at (626) 485-6863 for all of your tax-related needs, as well as notary and bookkeeping services.