Pro Tax Consultants LLC

The Internal Revenue Service has set Friday, Feb. 12, 2021, as the start of the nation’s tax season. That’s the day the agency will begin accepting and processing 2020 tax year returns. The IRS says the February start date for individual returns will give it time to do additional programming and testing of its computer systems in the wake of tax law changes that came through on Dec. 27, providing a second round of Economic Impact Payments. These programming changes are termed... critical by the IRS. If filing season opened without these changes in place, the agency says there could be a delay in getting refunds to taxpayers. The changes, they stress, ensure that eligible people will receive any remaining stimulus money as a Recovery Rebate Credit when they file their 2020 tax return. In order to speed up the refund process, the IRS recommends filing electronically with direct deposit as soon as taxpayers have the filing information they need. Call, message, or visit our website to schedule your appointment now! ProTaxConsultants.net See more

we are transitioning our email and website to a new system in an effort to better serve our clients in these trying times. Over the weekend our email will be down for some periods of time. If you need us please message us thru Facebook then watch for exciting changes to come!

Stimulus checks will start to be mailed out next week! If the IRS has your direct deposit info start looking for a deposit in your bank account in about a week. Like last time it can take a month to get yours but know it’s on it’s way!

Attention! We are hosting a virtual trivia night tomorrow from 6pm to 7pm. 1st place winner gets an amazing gift basket valued at $30! Click the following link to sign up today: https://fb.me/e/5zzVxXe8t

Any last minute Larry's out there? We have some availability to still get your taxes in on time. October is among us and so is the October 15th deadline. Call us at 417-831-5515 to set up your appointment.

What are capital gains? Capital gains are the profits from an investment when you sell it for more than you paid for it. It's usually fairly easy to figure out whether you have a capital gain, especially with publicly traded investments like stocks or funds. If the price of your stock or fund has gone up since you bought your shares, you'll generally have a capital gain, and if the price has gone down, you'll have a capital loss. As an example, take a stock that you paid $40 per share to buy 100 shares. Later, when you decide to sell, the stock price has gone up to $50 per share. If you go forward with the sale, then your capital gains would be $10 per share, or $1,000 in total.

Do not let the October 15th filing date get by you if you have not filed. We have available appointments please call us at 417-831-5515 and let us file for you. The penalties are not worth it. The maximum for this penalty is 25% of your unpaid taxes. You must e-file or file your 2019 Tax Return by the extended deadline of October 15, 2020, or you will begin to face the failure-to-file penalty, which is 5% of your balance due for every month (or part of a month) in which your taxes go unpaid.

Tomorrow, SEPTEMBER 15TH, Third quarter taxes are due! OCTOBER 15TH is your deadline for your 2019 taxes! We have appointments available. Give us a call at 417-831-5515.

Qualified Business Income (QBI) Deduction Many owners of sole proprietorships, partnerships, S corporations and some trusts and estates may be eligible for a qualified business income (QBI) deduction also called Section 199A for tax years beginning after December 31, 2017. The deduction allows eligible taxpayers to deduct up to 20 percent of their qualified business income (QBI), plus 20 percent of qualified real estate investment trust (REIT) dividends and qualified publicly traded partnership (PTP) income. Income earned through a C corporation or by providing services as an employee is not eligible for the deduction.

Why was I notified by the IRS? The IRS sends notices and letters for the following reasons: You have a balance due. You are due a larger or smaller refund.... They have a question about your tax return. They need to verify your identity. They need additional information. They changed your return. They need to notify you of delays in processing your return. You need help? Bring us a copy of the letter and a copy of your tax return and we will explain it to you. Need help with Tax Resolution? What can a Tax Resolution Specialist help you with? IRS Collections IRS Penalty Abatement IRS Liens IRS Levies We have a tax resolution specialist to help with that too!

If you cannot make the website work we can do it for you! Call Pro Tax Consultants at 417-831-5515 and say you need help with a "simple tax return". We will get it done for you!

EXPECTING A REFUND? Hoping for a refund? Didn't get your taxes done before the craziness started? Was waiting on that last form? Just a last minute Larry? Does not matter, we are here to help you! We can complete your taxes without any contact. Facetime, Facebook, telephone, email... whatever! We even have a fax! We are here to help you. Although we love to see our clients face to face, we have had clients nationwide for years and are set up for this type of situation. Call us today for details! (we also have flexible payment plans if you are unemployed but need your refund!) www.ProTaxConsultants.net

We have just updated our website with the most current info available! www.protaxconsultant.net

YES! We do virtual appointments! Facetime, Facebook, whatever it takes to serve our clients. We are limiting our face to face appointments for the wellness of our staff and clients, but we are here and working. We are only a phone call away. Call 417-831-5515 to set up the appointment of your choice.