With the latest stimulus bill there were several tax laws that were passed in the last week or two retroactively to 2020 and impacted returns. We slowed on completing returns so that our tax software could be properly updated to keep our clients from having to deal with amending returns and possibly slowing the issuance of refunds.
We receive numerous calls daily asking what is the status of my tax return. The answer is complex and simple at the same time as each persons return goes through many stages before actually being filed with the IRS.
Information comes into our office via email, mail or physically being brought in.
Files are pulled, information placed into the file and this is logged into a spreadsheet indicating when it was received. This is important because we work on each return in the order that it comes into our office.
Information is checked, entered into spreadsheets and totaled if needed.
Tax information is scanned into our secure system so that it is accessible if and when it is needed in the future. We advise clients to keep these records for at least 7 years.
Returns go into Royce’s office for him to complete using the most up to date tax software and his years of experience to ensure that each client receives the most benefit from their individual deductions. (Fun fact- Royce completes each and every tax return)
Completed returns are moved to our finishing area where individual letters are written, labels and covers are made.
Returns are reviewed to ensure accuracy and are assembled. All information that is brought is placed in an envelope to be returned to the client. (These should be kept in a safe, accessible place in case they are needed for reference or audit)
Assembled returns are once again reviewed.
Clients are called or emailed letting them know that their return is complete and ready for signature. (We must have signed pages prior to any return being transmitted)
Returns are electronically transmitted to the IRS and any state agency that is required. Some returns do still have to be sent in the mail, but these are the exception.
Notification is received stating that the return is either accepted or rejected. (Rejected returns are reviewed once again to determine why they have been rejected, then are transmitted again after any necessary changes are made)
Accepted returns are placed back in there respective file cabinets until the next tax year.