FREQUENTLY ASKED QUESTIONS
What do I need to bring to my appointment?
Why do I have to provide a copy of my Driver's License every year? Shouldn't you have it from last year?
What documents should I receive from my employer?
What documents do I need if I am self-employed?
Can I claim charitable donations without a receipt?
Where's my refund?
How early can I file my tax return?
Do I have to pay taxes on money that was gifted to me?
Why is my refund less than I expected?
- You will need to bring a filled out CRM Tax Questionnaire, a signed Client Services Agreement, (both can be downloaded under "Be Prepared" Section), all income documents (W2s, 1099s, unemployment 1099-G, etc), copies of your IDs (Driver's License, Passport, etc), copies of each dependent's Social Security Card, and all supporting documents (mortgage statements 1098, tuition statement 1098-T, etc). Make sure all of your documents are OUT of all the envelopes prior to bringing them to your appointment.
Why do I have to provide a copy of my Driver's License every year? Shouldn't you have it from last year?
- Once we are done with the tax year, we store everyone's tax files. The copies of your IDs provided from the previous year are stored inside your tax file. We need a copy of everyone's IDs for their new tax file every year as a requirement by IRS.
What documents should I receive from my employer?
- The forms to prove employment may vary depending on individual situations. For most, an employer will provide a W-2 form. The self-employed (i.e. independent contractors, product sales representatives such as Mary Kay, etc.) should receive a 1099-MISC from the company.
What documents do I need if I am self-employed?
- You will need to file a Schedule C using IRS Form 1040. Depending on your type of business and where you conduct business, there may be other forms you will need. You may also need to make quarterly estimated payments by filing Form 1040-ES, Estimated Tax for Individuals.
Can I claim charitable donations without a receipt?
- Yes, you can as long as you keep good records in case you are ever audited by the IRS. Be sure to record the name of the organization, the date and location, as well as a detailed description of what you donated. Keep notes on the amount you claimed as a deduction and how you figured the fair market value on the items you donated. In the case of a monetary donation, as long as it’s less than $250, a canceled check or even a payroll deduction can suffice for proof of the donation.
Where's my refund?
- We always notify our clients once we know that the refund has been processed but and give the client an approximate date when their refund will be deposited into their account. However did you know that after we have filed the taxes with the IRS, the taxpayer has the ability to check on the status of the refund on the IRS website here: sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp
How early can I file my tax return?
- As soon as you have all the necessary documents, the tax preparation process can begin. However, the IRS does not accept returns immediately. IRS announces beginning of tax season end of previous year. All returns need to be filed by April 15th unless you request an extension.
- If you've already e-filed or mailed your return to the IRS or state taxing authority, you'll need to complete an amended return. Additional fees may apply.
Do I have to pay taxes on money that was gifted to me?
- No. The federal tax laws do not consider gifted money to be earned income therefore it is not taxable to you. No state has a tax law on gifted money either.
Why is my refund less than I expected?
- Many factors can contribute to why your refund is less than you expected. You have to consider the three elements that define a refund: your taxable income, the amount withheld from your paycheck for federal (and state taxes when applicable) and your tax rate. Several factors include you are in a higher tax bracket, you lost the ability to claim a dependent, your employer took less taxes out during the tax year, etc.