Mark Frazier, CPA & Associates Inc. has been serving taxpayers, business owners, and Investors in the greater Chillicothe, OH area for over 20 years. We bring many years of experience to our customers who want to increase profitability, use all legal means to pay the least amount of taxes, avoid tax notices and surprises or simply want more time to run their business and enjoy their families.
To manage your business profitably, you need the right financial data, advice and services. We can provide you with the accounting, bookkeeping, tax, business counseling, payroll and other business services you need most. We want to be part of your success. Count on us to listen, give you top priority and respond promptly with services specifically suited to your company.
Our individual tax services provide you with insightful ideas for tax planning, whether facing difficult tax questions, landlord or small business issues. If you need help with these or similar issues and would like to discuss them in a free consultation, we would like to meet you.
To manage your business profitably, you need the right financial data, advice and services. We can provide you with the accounting, bookkeeping, tax, business counseling, payroll and other business services you need most. We want to be part of your success. Count on us to listen, give you top priority and respond promptly with services specifically suited to your company.
Our individual tax services provide you with insightful ideas for tax planning, whether facing difficult tax questions, landlord or small business issues. If you need help with these or similar issues and would like to discuss them in a free consultation, we would like to meet you.
Services
Are you expecting a tax refund from the Internal Revenue Service this year?
If so, here are seven things you should know about checking the status of your refund once you have filed your federal tax return.
2. When to Check Refund Status If you e-file, you can get refund information 72 hours after the IRS acknowledges receipt of your return.
If you file a paper return, refund information will generally be available three to four weeks after mailing your return.
3. What You Need to Check Refund Status When checking the status of your refund, have your federal tax return handy.
If so, here are seven things you should know about checking the status of your refund once you have filed your federal tax return.
2. When to Check Refund Status If you e-file, you can get refund information 72 hours after the IRS acknowledges receipt of your return.
If you file a paper return, refund information will generally be available three to four weeks after mailing your return.
3. What You Need to Check Refund Status When checking the status of your refund, have your federal tax return handy.
If a due date falls on a Saturday, Sunday or legal holiday, the next business day becomes the due date.
Tax deposits are due on the 15th day of the 4th, 6th, 9th, and 12th month of the fiscal year.
Deposits are made on either a monthly or semi-weekly basis.
Employers who reported $50,000 or less will deposit monthly by the 15th day of the following month.
Those reporting more than $50,000 must deposit semi-weekly.
For paydays on Wednesday, Thursday, or Friday, the deposit is due the Wednesday after the payday.
Tax deposits are due on the 15th day of the 4th, 6th, 9th, and 12th month of the fiscal year.
Deposits are made on either a monthly or semi-weekly basis.
Employers who reported $50,000 or less will deposit monthly by the 15th day of the following month.
Those reporting more than $50,000 must deposit semi-weekly.
For paydays on Wednesday, Thursday, or Friday, the deposit is due the Wednesday after the payday.
Destroy junk mail credit card offers before discarding them.
Shred all old bank and credit card statements.
Look for information on documents that a thief could use to steal your identity including account numbers, your social security number, and your drivers license number.
Do not have your social security number, drivers license number, or home phone number pre-printed on your checks.
Its a good idea to copy the front and back of your credit cards, and keep them in a safe place.
If they are stolen from you, youll have all the information you need to cancel them immediately!
Shred all old bank and credit card statements.
Look for information on documents that a thief could use to steal your identity including account numbers, your social security number, and your drivers license number.
Do not have your social security number, drivers license number, or home phone number pre-printed on your checks.
Its a good idea to copy the front and back of your credit cards, and keep them in a safe place.
If they are stolen from you, youll have all the information you need to cancel them immediately!
Taxpayers who are subject to the federal income tax or who are required to file information returns with the Internal Revenue Service, must keep accurate records.
In the event your return is audited, the auditor will expect you to substantiate the revenue and expenses reported on the return with proper accounting documentation.
Generally, no penalty is imposed for failure to keep the required records.
However, in case of a dispute with the IRS, the burden of proof is on the taxpayer.
Incomplete or nonexistent records may result in interest, penalties and loss of legitimate deductions.
In the event your return is audited, the auditor will expect you to substantiate the revenue and expenses reported on the return with proper accounting documentation.
Generally, no penalty is imposed for failure to keep the required records.
However, in case of a dispute with the IRS, the burden of proof is on the taxpayer.
Incomplete or nonexistent records may result in interest, penalties and loss of legitimate deductions.
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