December 29, 2014 The Integrity of Madison County staff is gearing up for tax season 2014. We have received our initial package of tax software and have all been to update school. I also have read that the credits and reductions that were scheduled to expire December 31, 2013 have been given another year of life. The Affordable Care Act (ACA) does not affect 2013 filing. This is a statement copied from last years letter. Unfortunately, it is not true for 2014.This year, when you come in, be prepared to give us more information than any of us want to think about in regards to your health insurance coverage in 2014. If you have coverage through your employer and it covers all your household for the entire 12 months, you are the lucky one! Just tell us that and you are done. If you were not covered by employer insurance, we will need to know, month by month, who was covered and how they were covered. If you dont know, you will have to find out. If you happen to receive a 1095-A, 1095-B, or 1095-C, please bring it to us with your tax information. These are the forms you will be receiving in 2015. You might receive one or all. Please keep your eyes on the lookout. By the way, all the ACA fling is based on your household. This may or may not include the people living in your house. For these tax purposes, it means anyone that you claim exemption for on your tax return. This may mean children that dont live with you. Please be aware. In conjunction with all this ACA filing, it is going to be CRITICALLY IMPORTANT that I am aware of how your dependent children file their taxes. It has to be done correctly or they are going to be paying fines for lack of coverage. I want to remind you that I do all dependent children taxes at no charge!! If they want to file early and you arent ready, please, please, please, bring those W-2s and direct deposit information in and Ill get them their refunds as quickly as anywhere else or doing it online yourself. My staff is all in place for the 2014 filing season and has not changed from last year. We have moved Rachel out front with new desks. We have also done a little painting/sprucing up. We will be operating in the same basic manner we worked thru your tax return preparations in the prior year. You are welcome to call for an appointment to meet with me. Otherwise, Donna or Rachel will take your information, check to make sure our records are current with demographic information, and have you sign the engagement letter. We will get everything ready and give you a call to come and pick up. Our goal, as always, is to keep this process within 7 business days. We are really hoping that the ACA does not slow this process down. This is always a hard topic for me to address but I dont feel its fair for you to not be warned. I am finding it a necessity to increase pricing this year due to rising software and other operating costs. It will be a modest increase of 3-5%. In closing, I would like to let you know that I am excited about the upcoming tax season and my opportunity to serve you. Also, thank you for displaying your trust in me by remaining a valued client of Integrity of Madison County. See you soon! Yvonne Chastain
Posted on: Mon, 29 Dec 2014 21:33:38 +0000
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