New Year Client Letter 2022
Happy New Year!
I hope you and your family had joyful holidays & are ready to welcome the 2022 year!
With the new year comes a new tax season. We are currently working on finishing touches for the tax organizers and expect to get those out to each of you in the next week or so. They will be electronic again this year in an effort to get them to you quickly and efficiently, so be on the lookout in your emails for an invitation to the TaxCaddy. There will be a letter with specific instructions on how to use this program. We made a few changes so the tax documents and the tax return could all be received and delivered in the same portal location this year. You are still welcome to give us hard copies of your documents if you prefer, but it is faster if you can upload them into the TaxCaddy portal system. I would like to kindly remind everyone to please read through your tax returns before signing your e-signature documents and to either download and save a copy to your computer or print out a hard copy for yourself. Accessibility to the tax returns do time out in the TaxCaddy system.
I am unofficially calling 2021 the year of the IRS notice. Many clients received notices from the IRS this past year and a lot of those letters were incorrect, or irrelevant by the time the taxpayer received them. However, there are a few specific letters the IRS has and/or will be sending out to taxpayers this year that are extremely important! It is imperative you keep a copy of these notices and remit them to us with your tax documents. A few important notices to keep are Letter 1444-C which outlines the Economic Impact Payments (Stimulus) you have received; Letter 6419 which outlines all of the Advanced Child Tax Credits received; and the IP Pin letter, which is the Identity Protection Pin letter. If you have received one of these pins in the past, then you should have again received a new one this year. The pin letter is extremely important as we cannot electronically file your return without the updated pin.
We don’t expect there to be any extended due dates for the tax returns this year. I fully expect the IRS to keep the April 18, 2022, deadline intact this year. It is important that you get us your tax information timely this year so we can file your tax return by the due date. If you need an extension, that is not a problem at all, just let us know ahead of time and we will prepare an extension for you. There is no penalty for filing an extension, however, it is an extension of time to file the tax return but is not an extension of time to pay.
To save everyone time and money, I will again be offering Zoom and phone meetings again this year. Many clients utilized this last year and preferred this method going forward. If you would like a Zoom or phone meeting, I will be emailing out a link to clients where you can simply click on the link and choose a time that works for you. These meetings work best if I have had the opportunity to first look at your tax documents prior to the meeting. These meetings are not required, but it is a good way for us to all touch base, stay connected and you have the opportunity to ask me any tax, financial, or other questions you may have.
If you need an in-person appointment during tax season, they are available, but they are limited and fill up quickly. If you need an in-person appointment, please contact us as soon as possible so we can schedule one for you.
We look forward to working with you over the course of this next year. I hope this new year brings everyone much success and happiness.
Sincerely,
Natalie M.Elser, CPA
President
California Professional Accountants Group, Inc.
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