Tax Talk Blog: E-File

Are you filing an extension this year on your personal federal taxes? In addition to paper filing your extension, the IRS offers the option to e-file your extension. Both filing options extend your filing date to October 15th. The e-file option will make it easier and faster for some, rather than traditional paper filing.

Filing an extension does not postpone payment of your taxes. Those who owe taxes can make a payment when they file the extension online by mailing a check, make an electronic funds withdrawal, or pay with a credit card.

The form that needs to be submitted is Form 4868, Automatic Extension of Time to File. You can either e-file from your own home computer, or you can file through a tax professional who uses e-file.

Read more about e-filing from the IRS website here: www.irs.gov

If you would like more information on the e-filing process, or if you would like to e-file an extension, please call McDaniel & Company, PLLC at (336) 996-3338. We are an accounting firm in Kernersville, NC. Our certified public accountants are ready to help you and your business with your tax and accounting needs.

McDaniel & Company PLLC

McDaniel & Company PLLC - Cheating on your taxes?

Will you cheat on your taxes this year? In a recent article from CNNMoney.com, reporter Blake Ellis talked about how more Americans are cheating on their taxes. With the current condition of the economy, it is supposed that the likelihood of Americans cheating during this tax season may increase. As we have mentioned in previous articles, the IRS is cracking down on errors on tax returns and increasing their audit efforts. These facts considered, it is not recommended that taxpayer or tax preparer take the risk.

To read this article, please follow the link here:

"More Americans cheat on taxes"

McDaniel & Company PLLC

McDaniel & Company PLLC - Stricter Penalties from IRS for Errors on Tax Returns

As the IRS imposes stricter penalties for errors on tax returns this season, accountants, unregulated tax preparers, and attorneys are being forced to pay closer attention to accuracy. In an online article by the Charlotte Business Journal, Julie Bird writes about how this particular need for attention to accuracy will undoubtedly cause the cost of preparing a tax return to rise.

To read more about this article click the link here:

 Tax payers face tougher IRS for return errors - Charlotte Business Journal .

McDaniel & Company PLLC is a certified public accounting firm that serves small to medium sized businesses in the North Carolina and Southern Virginia area. We have a specialty with multi-state tax issues. In addition to offering full tax and accounting services, we offer sales of and support for accounting software. The software products we sell are Peachtree, Businessworks, DacEasy, MAS 90/200, and Quickbooks.

If you are interested in learning more about our firm and the services we offer, please call (336) 996-3338, or click http://www.cpamcdaniel.com/ to learn more.

McDaniel & Company PLLC