Tax Insights
Follow our blog to stay up to date on the latest news, insights and tips to help you make sound decisions throughout the year and be prepared when tax time arrives. Subscribe now to receive the latest blogs directly in your inbox.
Team Member Spotlight: Steve Hans
For the last 15 years, Steve Hans has been a vital and popular member of the JRJ Income Tax Service, making tax preparation his second career and extending the branches of our family business. Recruited to join the team by his sister-in-law Pamela Hans, he made the...
What You Need to Know About Changes to the Child Tax Credit
Americans have been receiving some form of a Child Tax Credit since the late ’90s, and most recently that meant a $2,000 credit at tax time for every dependent aged 17 and younger. Then came the COVID-19 pandemic and all the financial hits that people across the...
Team Member Spotlight: Rebekah Canterbury
Since the day Ruth Haney started JRJ Income Tax Service in 1982, it has been a family business. And now, 40 years later, not only are her children leading the way but her grandchildren are playing vital roles. Rebekah Canterbury has come a long way since the days...
Want to See That Refund Sooner? File Your Taxes Electronically.
We can't stress it enough this year: If you're getting a tax refund and you want to see it anytime soon, you should plan to file electronically. Not only that, but you should ensure that you are set up to have your refund direct-deposited to your bank. The IRS has its...
Use Cash App? Venmo? PayPal? … Payment Reporting is Changing for 2022
By: Stephanie Smith, Tax Preparer & Enrolled Agent https://www.youtube.com/watch?v=qP2H73U851Y Are you one of the many users of apps like Cash App, Venmo or PayPal to accept payment for services or products? The reporting rules for these third-party...
Summer Cleaning? It’s a Great Time for Tax-Deductible Donations
If you’ve been doing some spring cleaning or clearing out your winter wardrobe for your summer wardrobe, now is the time to start thinking about the tax deduction you can get donating your unwanted items to a thrift store, instead of waiting until the night before...
Buying a new home this summer?
Summertime is a popular season for purchasing a new house. Before you listen to any great “tax benefits” from your realtor or mortgage lender, let’s clear a few things up before you come in for your appointment. Purchasing a home? When it come to the actual...
Upcoming Tax Deadlines
April Day12Employees Who Work for Tips – If you received $20 or more in tips during March, you must report them to your employer (employees are required to keep a daily record of tips). All tips must be reported on your individual income tax return. You can use...
Third Round of Stimulus Payments Going Out to Eligible Americans
The IRS has started sending out a third round of Economic Impact Payments (EIP3s, also called stimulus payments) shortly after the American Rescue Plan became law on March 11. The vast majority of eligible Americans will receive their payments automatically, usually...
IRS Extends Individual Income Tax Filing Deadline to May 17
The IRS has announced a filing deadline extension for all 2020 federal personal income tax returns. This decision moves the filing due date from April 15 to May 17, 2021. Individual taxpayers, including joint filers and those with self-employment earnings, now have...
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