Fast Tax Organizer
The Fast Tax Tax Center offers a proprietary Tax Organizer to assist our clients in collecting and reporting the information necessary for us to properly prepare their tax return. The Tax Organizer consists of a checklist of documentation that clients will need to have on hand throughout the tax preparation and filing process.
- A copy of the previous year’s tax return, if not prepared by Fast Tax
- A list of forms, including: W-2, 1099, 1098, 1099-L, and Schedule K-1
- Investment transactions, real estate transactions
- Any tax notifications you may have received, from the IRS or other taxing authorities
- All other supporting documents (checks, schedule, etc.)
The Tax Questionnaire is an additional form that helps clients get the best possible return. It includes questions on:
- Personal Information (marital status, address changes, etc.)
- Dependents
- Income
- Purchases, sales, and debt
- Retirement plans
- Education
- Itemized deductions
- Estimated taxes
Federal vs. State Income Tax
It is important for clients to understand the differences between federal and state income tax. Federal income tax is paid by all citizens of the Unites States regardless of the state or county they live in, and is paid to the Internal Revenue Service (IRS). State income tax is determined at the state government level and does not answer to a single, uniform tax system.
Our staff is consistently up to date on the most recent income tax laws on both the federal and state levels. We know how important it is for our clients to have their taxes filed correctly by professional accountants – inexperienced or rushed filing can lead to costly mistakes, like under- or over-paying on tax returns.
Business Tax Preparation & Filing
At Fast Tax, our top priority is to save our clients time and money. Operating a business takes up a significant portion of the lives of business owners, and our goal is to help make the business tax filing process as efficient and effective as possible. Our business tax preparation and filing services include:
- Preparation of S Corporation Tax Returns
- Preparation of C Corporation Tax Returns
- Preparation of Estate Tax Returns
- Preparation of Trust Tax Returns
- Preparation of Gift Tax Returns
- Preparation of Partnership Tax Returns
Income Tax Filing FAQs
Who has to file taxes?
Whether or not you have to file taxes depends on three factors:
- Your filing status (single, married filing a joint return with your spouse, married but each of you filing a separate return, head of household, or qualifying widow or widower)
- Your age
- Your income
What is the tax filing deadline?
April 15th is the tax filing deadline for individual tax returns. If extensions are filed, the final tax deadline for the tax year is October 15th.
What happens if I delay and miss the tax filing date? Can I get an extension?
Delaying filing your tax return is not recommended. If you delay and miss the filing date, it’s best to file as quickly as possible. In order to attain a six-month extension, you must fill out Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. Special conditions apply if you are a U.S. resident currently living outside of the United States, out of the country when your six-month extension expires, or serving in a combat zone.
If an individual delays filing and misses the deadline, what is the course of action taken at Fast Tax?
If you miss the April 15th filing deadline, the best course of actions is to file as soon as possible and apply for penalty relief.
How do I check my tax filing status?
If you are interested in checking the status of your tax filing, you must contact the IRS. The IRS will be able to provide you with the status of your return. If you require assistance contacting the IRS, Fast Tax can help you with the process.
Why use a tax preparer instead of tax preparation software?
It’s easy to assume that simply purchasing online tax preparation software will be the end of all the time and stress that comes with tax season each year – but this is not the case for the vast majority. Proper tax preparation begins with accurate records of an individual’s financial transactions over the course of the previous year, including a collection of other financial and personal forms. Our accountants are trained to prepare and file the taxes of our clients efficiently and accurately. We utilize a streamlined process that takes the pressure and human error out of the equation.
Do I need to file a tax return?
There are a series of questions you should ask yourself in order to determine if its necessary for you to file your taxes. Follow the link below for a detailed walk through.
Filing a Federal Income Tax Return
Are there any tax changes for this year?
For a summary of any tax changes for the current year, visit the What’s New section for the following:
- Form 1040 Instructions
• Form 1040A Instructions
• Form 1040EZ Instructions
• Visit the IRS site for Publication 17
I cannot pay my tax bill this year, what can I do?
The IRS provides the option for individuals who cannot pay their taxes to pay in installments for up to five years. At Fast Tax, we will gladly prepare and file the necessary request forms for those who have chosen this option.
How do I inquire about my tax refund?
Typically, it takes about 4-6 weeks to process a tax refund. You may check the status of your refund online (link listed below). If you haven’t received your refund in this time period, the IRS has a toll free number to handle your refund inquires. You should have your social security number, filing status, and the dollar amount of your expected refund available.
IRS Toll Free: (800) 829-4477
California State Refund Inquiry: (800) 852-5711
How long do I keep my tax records?
The IRS suggests 3 years from the due date of your return. We suggest that you may discard cancelled checks, receipts, bills and credit card statements after 3 years. However, we suggest your tax returns, W-2 forms, and 1099s forms from banks and mutual funds or brokerage firms should be made part of your permanent records. This is to insure you have this information available in the event they are needed for an unrelated court proceeding.