Federal and State Tax Tips and Updates
ACCUplus Tax Service
17A Dunstable Rd.
N. Chelmsford, MA (formerly Taxman-Chelmsford)
is your one stop resource center for:
Year Round Service
Small Business Services
Tax Season Appt. Hrs.
Friday – 9AM – 4PM
Saturday – 9AM – 3PM
2016 Last Minute Tax Savings Ideas-
– Review and make any last minute donations.
– Decide to sell chosen investments. Do so to take advantage of offsetting ordinary income with capital losses up to $3,000.
– Accelerate expenses. Prepay next month’s mortgage, state income taxes, or property taxes if it makes sense.
– Defer income. If possible, defer income into January.
– Shift Education Expenses. Time deductible educational expenses into the year that helps the most.
Call our office to discuss your situation.
**First day to e-file your 2016 tax return is currently set for January 23, 2017 per the IRS.
**Some refunds delayed in 2017—Certain taxpayers will get their refunds a bit later. By law, the IRS must hold refunds for any tax returns claiming either the Earned Income Credit (EITC) or Additional Child Tax Credit (ACTC) until February 15. This means the whole refund, not just the part related to the EITC or ACTC.
**Big changes in health care coverage with the Affordable Care Act. Be prepared with the proper paperwork to be sure you get the proper credit. With new tax laws beginning in 2014, a number of taxpayers who were not traditionally required to file may now need to do so.
IRS refund status is updated every 24 hrs at www.irs.gov. You will need your filing status, social security # and exact refund amount.
Schedule your tax appointment now even if you think you owe money, you have until 4/18/17 to actually pay it!
Tax Payments Easier with New “Direct Pay”
Direct Pay is at www.irs.gov; click the “Pay Your Tax Bill” icon on the top of the irs.gov page.