Diversified Computer Services

02/12/2021

February 12, 2021: Today is the first day of this tax season that the IRS is accepting returns (e-filed or mailed) for processing. A few things new to this year are: a cash (only) charitable deduction up to $300 for Standard Deductions filers - receipts/canceled checks needed for up to $249 and a letter back from the organization if $250-$300 went to one charity - still need to Itemize Deductions if you want to deduct donated items, though; Cares Act payments of $1,200 & $600 & any amounts for children are non-taxable (considered refundable tax credits) - if you didn't get either one or both, you can declare that on your return and get them refunded there; just a reminder that if you received unemployment from either the State or Federal programs, those payments ARE taxable.....If you haven't filed and need your returns prepared professionally, please call, leave a message, and I will return your call to set an appointment for documents pickup / dropoff or possible socially distanced in-person preparation. Thank you!

06/03/2020

As of today, Wednesday, June 3, there are 6 weeks left before the due date to timely file your Federal and State (Michigan) tax returns. If you still haven't filed, and need your returns prepared professionally, please call, leave a message, and I will return your call to set an appointment. Thank you!

04/15/2020

4/15/2020: On what normally would have been Federal tax day, we received a direct deposit of the CARES Act relief payment. This payment is treated as and detailed in the deposit information in your bank account as a "tax refund". As such (and specified in the legislation), it is not taxable income, will not be included in your 2020 Adjusted Gross Income, and therefore does not transfer to your State nor Local income tax returns.

On Friday afternoon, the Coronavirus Aid, Relief and Economic Security (CARES) Act passed the House of Representatives by a voice vote. The bill now moves to the President for signature.

03/28/2020

As of Friday, 3/27/2020, Federal tax returns, and here in Michigan, Michigan and local tax returns have their due date extended to July 15, 2020. If you owe on either or all, that gives you 3 1/2 months from today (3/28/2020) reprieve. If you anticipate a refund, the IRS is still processing them for refunds, so it would be to your benefit to file as soon as possible. Arrangements can be made to have minimal contact appointments, documents exchanges, and follow up/clarifications by phone. If you would be a new client who lives in my area, copies of the previous two years returns, social security cards, and driver's licenses, as well as the necessary documents and information to process this year's returns are necessary. Since a new client would not be in my contacts list, if calling and it goes to voice mail, please leave a message. With constant telemarketing calls daily, unidentified calls will not be returned. Thank you!

01/15/2020

Monday, January 27, 2020: first day the IRS will begin processing e-filed tax returns.
Wednesday, July 15, 2020 is the deadline for timely filing of Federal tax returns.