2022 Tax Information

Information for the 2022 Tax Season:

  • All Clients must complete a 2022 Individual Tax Information Packet to ensure all information is updated.

  • Please bring all information at one time. Bringing additional information after you have informed us that your return is ready to be competed will result in additional fees if your return must be revised. 

  • If you want an extension filed, contact our office preferably by email so we can add you to that list.

  • A list of needed information can be viewed here. (Click on Individual Federal and State Taxes)

    We will make every effort to file returns by the due dates. In the event we are unable to we will file for extensions and complete the return as quickly as possible.

As we close 2022......

Happy Holidays from all of us here at Royce A. Belcher, CPA.

We appreciate you and your continued patronage and wish you and your family a happy, safe and prosperous 2023.

A couple of important dates for the upcoming Tax Season are Cutoff dates for tax information to be in our office:

  • Business Returns (sole proprietorship, partnership, corporation, and S corporation.)-February 25, 2023

  • Individual- March 25, 2023

Extension Deadline

To our valued clients that have requested we file an extension of time for your 2021 tax filings, please be aware the deadline to complete your returns is quickly approaching.  In order for us to complete your returns in a timely manner, we must have all of your tax information into our office by:

 

Individuals – Information must be received on or before Saturday, September 10, 2022.

 

Please be sure to complete updated tax information worksheets herein attached for our office as this provides detailed, valuable information needed to complete your return.  Please also remember for 2021, you must provide the accurate amounts of your 3rd stimulus payment and child tax credit received.  If these amounts are incorrect, the processing of your refund or any balance due the IRS may be changed and delayed as the return will be required to be reviewed and adjusted manually by an IRS employee.  And the answer is “No, we do not have access to the amount you received for these payments.”  You can find it on the IRS website, irs.gov.

IRS announces tax relief for Tennessee severe storms, straight -line winds and tornadoes

Individuals and households affected by severe storms, straight-line winds and tornadoes that reside or have a business in Cheatham, Davidson, Decatur, Dickson, Dyer, Gibson, Henderson, Henry, Lake, Obion, Stewart, Sumner, Weakley and Wilson counties qualify for tax relief. The declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after December 10, 2021 and before May 16, 2022 are postponed through may 16, 2022.

If an affected tax payer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer should call the telephone number on the notice to have the IRS abate the penalty.

For information on services currently available, visit the IRS operations and services page at IRS.gov/coronavirus,

The IRS automatically identifies taxpayers located in the covered disaster area and applies filing and payment relief. Affected taxpayers who reside or have a business located outside the covered disaster area should call the IRS disaster hotline at 866-562-5277 to request this tax relief.

To read the entire announcement click HERE

Oh no....I missed the drop-off date....

Don’t panic….we are here for you……….

The cutoff to drop off information for tax returns was March 26, which means we can not guarantee your return will be completed before the April 15 deadline.

 We will continue to process returns for all clients regardless of the date that information was brought to us.

We work diligently to complete as many returns as possible before the tax deadline and generally complete many that are received after the cutoff date 

If an extension is necessary, we will file that for you.  

2021 Tax Return Deadlines

The last day to drop off information for tax returns is Saturday March 26, 2022 for Individuals and Saturday February 26, 2022 for Partnerships & Corporations.

All Clients must complete a 2021 Tax Information Worksheet to ensure all information is updated. You can view this by clicking here to download and print or here for a fillable form and the 2021 Engagement Agreement.

**Stimulus and Advanced Child Tax Credit amounts MUST match the IRS information or your return and potential refund WILL BE DELAYED by the IRS!! We do not have access to your information about these amounts so you will need to contact the IRS or your bank to acquire these amounts.

Bring all information at one time. Bringing additional information after you have informed us that your return is ready to be competed will result in additional fees if your return must be revised. 

We must receive all information to prepare returns by these dates to ensure that your return will be complete and transmitted by April 15, 2022

Check your mail.........

Before our tax season begins, we’d like to notify you of letters you could expect mailed from the I.R.S. Please see below notes from IRS.gov website.

  1. In early 2022, the IRS will send you Letter 6475 to provide the total amount of the third Economic Impact Payment and any Plus-Up payments that you received. You need to keep this and any other IRS letters you received about your stimulus payments with your tax records and refer to them when you file. Or you can log in to your online account to securely access your Economic Impact Payment amounts.

If you are claiming a 2021 Recovery Rebate Credit, you will need the total amount of your third Economic Impact payment and any plus up payments to file your return accurately and avoid a refund delay. 

Just as last year, our office will need the 3rd stimulus amount you received (approx. March 2021) to have an accurate reflection of your recovery rebate credit, if any which may still be due to you. Please bring Letter 6475 with your other tax documentation.

  1. In January 2022, the IRS will send you Letter 6419 to provide the total amount of advance Child Tax Credit payments that were disbursed to you during 2021. Please keep this letter regarding your advance Child Tax Credit payments with your tax records. You may need to refer to this letter when you file your 2021 tax return during the 2022 tax filing season.

If you receive a total amount of advance Child Tax Credit payments that exceeds the amount of Child Tax Credit that you can properly claim on your 2021 tax year, you may need to repay to the IRS some or all of that excess payment.

Similarly, our office will need any Child Tax Credit (CTC) you received (approx. June through December 2021) to have an accurate reflection of your CTC credit OR debit, if any due. Please bring Letter 6419 with your other tax documentation.

 

Lastly, for those clients who’ve experienced identity problems in the past and has established PIN codes for tax filing; the IRS will mail those PIN code letters the beginning of 2022. Please bring those letters with your other tax documentation.

Happy 2022

We would like to wish everyone a healthy and prosperous New Year!

We are working to have updated forms and information available that will aid in gathering the information you will need for your tax filing for 2021. You can start by organizing the information that you already have and prepare to gather information you will need such as amounts received for stimulus and child tax credits. We recommend checking with your financial institution for correct amounts if you do not have correspondence that was sent from state and federal agencies with this information.

These amounts WILL affect your return and if not reported correctly WILL delay any refund you might be expecting. These delays on the IRS’s part can be significant so reporting the correct amounts initially is of utmost importance.

We will be sending information via email so if you are unsure that we have your correct email address, please let us know. We will also be posting dates of deadlines for information to be in our office for timely filing.

Check back here for the most updated information.

Again we wish you a Happy New Year!

Deadline for Extension Filings

To our valued clients that have requested we file an extension of time for your 2020 tax filings, please be aware the deadlines to complete your returns is quickly approaching. In order for us to complete your return in a timely manner, we must have all of your tax information into our office by the following dates:

Partnerships, Corporations & Trusts- Information must be received on or before Wednesday, September 1, 2021.

Individuals-Information must be received on or before Wednesday, September 22, 2021.

Please be sure to complete the updated tax information worksheet for our office as this provides detailed valuable information needed to complete the processing of your return. Please also remember for 2020, we must be provided the accurate amounts of your 1st and 2nd stimulus payments received. If these amounts are incorrect, the processing of your return or any balance due the IRS may be changed and delayed as the return will be required to be reviewed and adjusted manually by an IRS employee.

And the answer is “No, we do not have access to the amount your received in the stimulus payments.”