FAQ
Here are the answers to
some of the most Frequently Asked Questions our firm
receives.
Q. How quickly can I
receive my tax refund?
A. Within
24 hour, if you use our refund anticipation loan (RAL) service.
RAL fees are from $34 ($500 refund or less) to $89 ($2,001
refund or more).We can also file your tax return electronically
and have your refund deposited directly into your bank account
within approximately 10 days, at no additional
charge.
Q. How much do you
charge?
A. My fee
is based on the number of forms and schedules needed and the
amount of time involved in the preparation of your return. If
you call me, I can get a feel for how complicated your work is
and provide you with an estimated fee. My fees are less than
typical CPA firms and may be more than the "fast
food" chain of commercial tax preparers. I believe we
offer the best professional value in town.
Q. What if I have a tax
question during the tax year?
A. As a
regular tax preparation client you may contact me as often as
necessary during the year for tax planning advice. There is no
charge for brief telephone, fax or email questions or advice.
For more detailed consultations, which require specific
research, worksheets or written opinions I will, at my
discretion, charge at an hourly rate of $75.00.
Q. What do I do if I
haven't received my refund?
A. The
Internal Revenue Service has a toll free number to handle your
refund inquiries. It is 1-800-829-4477. Please have your social
security number, your filing status, and the whole dollar
amount of your refund handy. Also, please allow from 4 to 6
weeks before calling. STATE REFUND = call me for phone
numbers
Q. I cannot pay my tax
bill this year? What can I do?
A. The
Internal Revenue Service provides for individuals, who cannot
pay their bill in full, to pay in installments, for up to five
years, we will file the necessary request forms for those of
you who need this procedure.
Q. How long do I keep my
tax records?
A. The
Internal Revenue Service suggests 3 years from the due date of
your last return. However, we suggest that you discard
receipts, bills and credit card statements after 3 years.
However, your tax returns, W-2s, 1099s from banks and mutual
funds or brokerage firms or any contract for an asset you still
own should be made a part of a permanent file.
Q. What if I get a letter
from the IRS?
A. If you
receive a letter relating to a federal or state tax return I
have prepared, send it directly to me immediately and I will
respond accordingly. I do not charge for responding to tax
notices when the return was correct as originally filed, or if
I made an error. If I have to prepare additional forms or
schedules or an amended return, I may have to charge an
additional fee.
Q. What if I am
audited?
A. If you
are audited by a Federal or State taxing authority, I will most
likely charge an additional fee. This is the most critical tax
situation you can have and I would never suggest using somebody
who offers free advice in this situation. Since I started my
practice, I have never had a poor experience with any agency. I
have either avoided the audit completely, had a no change audit
or ended up with a refund.
Q. What do you need to
prepare my tax return?
A. I will
gladly send you, via email, fax or postal mail, a list of the
specific information I will need to properly prepare your tax
return. Email your request to paulmetz@tax-cpa.com.
Q. How can you save me
money?
A. We have
14 years of experience to draw from in tax planning and
business advice. We explain various tax-saving ideas in plain
language and let you choose which ideas you would like to
implement to save you money. Most of our clients save much more
than the cost of preparing their tax returns.
Q. Do you prepare estate
tax returns?
A. Yes, we
do prepare estate and trust tax returns. Do to the extensive
tax planning involved, our minimum estate tax return fee is
$1,000 and can be substantially more. With proper planning,
almost all estate taxes can be avoided.