FAQ's Regarding our Response to COVID-19
and resources to help you navigate the confusion
of rapidly changing information
We have not closed our business. Accounting and payroll services are considered essential services, but we have made the decision to protect our employees and community by having our staff work primarily from home.
Rest assured - our entire team is working very hard on your behalf every day. We are continuing to process returns as we normally would, we just had to change how we meet with you and obtain information.
Contrary to some information in the news and what you may have heard from others, this year April 15 is no longer a due date to file your tax returns or pay your taxes. Additionally, the first installment of quarterly tax estimated payments have also been moved.
Instead of April 15, these returns and payments are due July 15 this year. Additionally, if you were wanting to make a contribution to your IRA, HSA, or similar plan that has also been moved to July 15.
This is wonderful news and removes the stress normally associated with the April 15th deadline so you can concentrate on other things during this time. Our team is now working remotely and will keep you informed as to the status of your return preparation or any questions that we may have.
We are continuing to accept tax documents via fax, secure upload, or mail and we have drop off options available at both our Grand Junction and Delta offices. There are envelopes and instructions, and we check and retrieve information multiple times per workday.
We continue to be available via phone, email, client portal, text, and online meeting, and we will be contacting you once your return is complete. We will then assist you with the steps to get signature pages to you and provide you a secure electronic copy of your return to review. Once the stay at home order is lifted and we can responsibly have our staff return to the office, we can arrange for you to pick up your paper copy. If you would prefer to wait for a paper copy of your return before signing the returns as opposed to an electronic one, that is fine, or we can discuss alternative delivery options.
If you filed a return for 2018 or have already filed for 2019, this information is used to determine if you are eligible.
The potential amount is up to $1,200 for single individuals $2,400 for married individuals filing jointly, and up to $500 per dependent child (under 17 years old) .
Keep in mind this is the maximum amount. If your AGI is over $75,000 for a Single filer, $112,500 for Head of Household, or $150,000 for Married/Joint filer, your payment will begin to reduce. After this level, your payment will reduce by 5% for anything over these amounts until it is reduced to zero at the maximum income amounts ($98,990 for Single filers, $136,490 Head of Household, or $197,990 for Married/Joint filers)
How do you claim it? Except for filing a tax return (for 2018 or 2019) you don't have to do anything to claim it, the IRS will send your payment automatically to either your bank account through direct deposit or your mailing address on the last return you filed.
When will I get my Economic Impact Payment? If by direct deposit, just a few weeks, if by check - a few months.
What if I want my payment faster or need to update my direct deposit information? The IRS has set up a website to provide basic information and bank direct deposit information as well as to check the status of your payment. (please see link below)
What if I get Social Security or Railroad Retirement benefits and I am not normally required to file a tax return? Can I still qualify? Yes. The IRS has set up an online portal to enable you to enter basic information (including direct deposit information). Please see the link below and follow the prompt on the IRS site regarding non filers.