Author: Max

Sigma Tax Pro Urges Tax Pros To Heed IRS Declaration Of Nearly $1 Billion In Unclaimed Refunds

Delray Beach, Florida (PRWEB) Apr 01, 2016

Sigma Tax Pro implores tax pros to be committed in reviewing their clients before year earnings to examine if they are among a some-more than one millions taxpayers who did not record a 2012 taxation return.

Under a stream law, taxpayers are authorised a three-year window to explain their refund. For those who did not attend in a 2012 filing season, this is their final possibility to explain a income to that they are justly entitled. Taxpayers are reminded that, in sequence to explain their before year refund, all successive years contingency also be filed. If taxpayers are carrying issues receiving before year forms they can use a IRS apparatus “Get My Transcript by Mail.” The deadline to record for 2012 is Apr 18th, 2016, or Apr 19th for those in Maine and Massachusetts.

Ian Gardner, of Sigma Tax Pro, reminds taxation pros that, “…Taxpayers might be blank out on some-more than only their reinstate amounts. Many people also validate for EITC, that provides assist to families next certain income thresholds.” The IRS has published sum intensity reinstate amounts for any state, with a top intensity reinstate amounts entrance from Texas, California, Florida, and New York. Tax pros in these areas are speedy to be some-more committed in ensuring their clients file, and do so within a allotted window. To contrast, Vermont, North and South Dakota, and Wyoming had a lowest intensity amounts.

Sigma Tax Pro provides a full operation of essential services for taxation pros. This includes attention heading program solutions as good as technical support, taxation credentials support and customer influence strategies. Sigma Tax Pro specializes in assisting taxation credentials firms enhance their businesses, open new offices and boost their customer base.

DELRAY BEACH, FLORIDA (PRWEB) MARCH 28, 2016

Sigma Tax Pro alerts tax pros to proactively reach out to clients who may have received an EITC letter or notice from the IRS before they are no longer eligible.

As tax season is winding down, Sigma Tax Pro wants to remind tax pros to proactively reach out to their clients who applied for the Earned Income Credit this year, but have not yet received their refund. There is a chance that the taxpayer received a letter from the IRS that will delay the refund, and by reaching out to those clients and letting them know to be on the look-out for that letter, tax pros can reduce the delay as much as possible. This tax season saw more verification letters go out than prior years. Taking this action will not only help your client receive their refund, but if you elected to use a Refund Transfer product, it will ensure you receive your preparation fees in a timely manner as well.

Ian Gardner, of Sigma Tax Pro, encourages tax pros to think of the situation from the perspective of the taxpayer: “Many clients receive these letters from the IRS, and they either panic, or ignore them completely. As a tax pro, you can let them know the necessary steps to get their refund, as well as remind them you are available to help.”

A client may receive a letter or notice from the IRS for a number of reasons: if they qualify for EITC but have not claimed it on their return; if they need to verify their EITC claim; or if the client’s previous EITC claim was reduced or disallowed and they need to file Form 8862 to claim EITC.

Taxpayers and tax pros alike are reminded to be wary of anyone posing as an IRS agent, and should always report any suspicious activity. More information regarding fraud, identity theft, and phishing can be found on the IRS website.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base.

Sigma Tax Pro has endorsed the recent series of IRS, state revenue departments and tax industry tips to help protect tax and financial data.

Delray Beach, Florida (PRWEB) December 11, 2015

Sigma Tax Pro has endorsed the recent series of IRS, state revenue departments and tax industry tips to help protect tax and financial data.

The “Taxes. Security. Together.” campaign is a coordinated effort between the IRS, states and the tax industry. Its goal is to increase awareness that carrying out simple tasks on the Internet via computers and mobile devices can expose important financial and tax data. Sigma Tax Pro’s goal is to fully support these coordinated efforts so that all consumers are receiving the best possible protection for their information. The campaign consists of a series of tips that provide guidance on how people can protect their computers and personal information. A new tip will be available each Monday through the start of the tax season in January.

Sigma Tax Pro’s Jody Dovich supports the campaign and states that while many individuals have heard of identity theft, they do not know what real steps they can take to protect their identity. Tax pros are also often not able to provide their clients with solid advice either. The tips in the You Tube video series that forms the core of the “Taxes. Security. Together.” campaign will be a great asset for tax pros and taxpayers alike.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma offers an identity theft product called IDShield which is now available and offers premium level protection.

For the original version on PRWeb visit: http://www.prweb.com/releases/tax-information/sigma-tax-pro/prweb13126095.htm

Sigma Tax Pro and the IRS are reminding all taxpayers whose filing extensions runs out this month to double check returns for tax benefits.

Delray Beach, Florida (PRWEB) October 15, 2015

As tax pros across America begin preparing for the coming tax season, the IRS has reminded taxpayers of the upcoming filing extension deadline on October 15th. According to the IRS, around 25% of the 13 million requested extensions have still not been filed. It should be noted that certain members of the military are exempt from this requirement. Jody Dovich at Sigma Tax Pro urges anyone who filed an extension to contact their tax professional to ensure their return is filed by the coming deadline.

The Internal Revenue Service has also detailed some of the potential tax benefits that taxpayers may be able to take advantage of. For low income workers, the Earned Income Tax Credit (EITC) can be a huge help and the EITC Assistant can show if anyone is eligible. The American Opportunity Tax Credit, claimed via Form 8863, as well as other education tax benefits can also be filed at this time.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma also offers a new identity theft product called IDShield which was released in September of this year.

For the original version on PRWeb visit: http://www.prweb.com/releases/taxes/sigma-tax-pro/prweb13026377.htm

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Taxpayers should check to see if they will qualify for either of two college tax credits or other education-related tax benefits for 2015

Delray Beach, Florida (PRWEB) September 04, 2015

As America says goodbye to summer and heads back to school, students and parents should check to see if they can take advantage of any education-related tax benefits. The two main benefits are the American Opportunity Tax Credit and the Lifetime Learning Credit which are available to taxpayers who pay qualifying expenses for an eligible student. The IRS considers eligible students as the taxpayer, spouse and their dependents. The American Opportunity Tax Credit can provide a credit for eligible students, however the Lifetime Learning Credit provides a maximum credit per tax return.

Jody Dovich of Sigma Tax Pro highlights the importance of being aware of these often overlooked benefits: “When it comes time to file taxes, everyone is looking to squeeze every last dollar out of their refund and this is a great way to do just that.” Nonetheless, it is vital that tax pros are aware of the specific details on these tax credits. They only apply to eligible students who are enrolled in eligible colleges, universities or vocational schools, including both nonprofit and for-profit institutions. Another caveat is that the credits are subject to income limits and this could affect the amount claimed on their tax return.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma also offers its audit assistance product to protect tax pros and taxpayers in the event of an IRS audit.

For the original version on PRWeb visit: http://www.prweb.com/releases/tax-information/sigma-tax-pro/prweb12931648.htm

Taxpayers should check to see if they will qualify for either of two college tax credits or other education-related tax benefits for 2015

Delray Beach, Florida (PRWEB) September 04, 2015

As America says goodbye to summer and heads back to school, students and parents should check to see if they can take advantage of any education-related tax benefits. The two main benefits are the American Opportunity Tax Credit and the Lifetime Learning Credit which are available to taxpayers who pay qualifying expenses for an eligible student. The IRS considers eligible students as the taxpayer, spouse and their dependents. The American Opportunity Tax Credit can provide a credit for eligible students, however the Lifetime Learning Credit provides a maximum credit per tax return.

Jody Dovich of Sigma Tax Pro highlights the importance of being aware of these often overlooked benefits: “When it comes time to file taxes, everyone is looking to squeeze every last dollar out of their refund and this is a great way to do just that.” Nonetheless, it is vital that tax pros are aware of the specific details on these tax credits. They only apply to eligible students who are enrolled in eligible colleges, universities or vocational schools, including both nonprofit and for-profit institutions. Another caveat is that the credits are subject to income limits and this could affect the amount claimed on their tax return.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma also offers its audit assistance product to protect tax pros and taxpayers in the event of an IRS audit.

For the original version on PRWeb visit: http://www.prweb.com/releases/tax-information/sigma-tax-pro/prweb12931648.htm

In contrast to last year’s delayed tax season beginning at the end of January, this years January 20th start has seen an increase in e-files and refunds over 2014 numbers. The IRS has received more than 14 million tax returns as of January 31st, and more than 13 million of those returns were filed electronically. This is a testament to the success and efficiency of the e-filing process. On February 6th IRSCommissioner John Koskinen affirmed their commitment to this process: ”We encourage taxpayers to e-file their returns since it is the quickest, safest and most accurate way to file and the fastest way to get a refund.”

Tax professionals should also be aware of the increase in the use of the IRS’ direct deposit option for taxpayer refunds. To date the IRS has issued 7.6 million refunds worth $26.8 billion with the average refund worth $3,539 during the 2015 tax season. 7.3 million of these refunds worth $26.2 billion have been directly deposited to taxpayer accounts. Jody Dovich at Sigma Tax Pro confirms that these new options are here to stay, “It is clear that e-filing tax returns and receiving refunds via direct deposit is the way of the future for taxpayers and tax pros alike.”

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma also offers its audit assistance product to protect tax pros and taxpayers in the event of an IRS audit.

Read the full story at http://www.prweb.com/releases/software/taxes/prweb12565369.htm

Tax professionals should advise their clients that they may receive a letter from the IRS requesting them to verify their identity. There is a website that taxpayers can visit to complete the process, idverify.irs.gov. The IRS does not send the letter because of any wrongdoing on the taxpayer’s behalf but only when they have indications that identify theft may be taking place. The communication they will receive from the IRS will be Letter 5071C. When they access the verification site, they will have to answer a series of questions that only the taxpayers themselves could answer. They will then be asked to confirm that they submitted the return. If they did not, the IRS can then take action to protect the taxpayer.

The letter will be mailed via the U.S. Postal Service; the IRS will not communicate this information through emails or phone calls. If taxpayers receive phone calls regarding the letter from someone claiming to be the IRS, they can be assured it is not a legitimate call. The letter will contain a toll-free number that can be called if the individual does not wish to use the idverify.irs.gov site to complete the process. Jody Dovich of Sigma Tax Pro reminds taxpayers that there may be long hold times on the toll-free line during peak hours, so the website will always be the fastest and easiest option.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma also offers its audit assistance product to protect tax pros and taxpayers in the event of an IRS audit.

Read the full story at http://www.prweb.com/releases/taxes/new-tax-id-verification/prweb12626230.htm