With the tax deadline fast approaching, we want to send a quick reminder that you have until July 15 to file your 2019 federal income tax return and pay any tax due. We’ve provided some resources if you’re looking for guidance during this time:
If You Need Filing Advice
Filers must be cautious in order to avoid the hassle of getting audited. It’s a situation that hits just about one out of every one hundred Americans. We’ve provided a few steps you can take to lower your chances of getting flagged by the IRS here.
Self-employed? While there is a lot to be aware of when filing your taxes as a full-time employee, tax season can be especially difficult to navigate for anyone who carries on a trade or business as a sole proprietor or an independent contractor, part of a partnership, or is otherwise in business for his or herself; being self-employed requires a different filing method than other types of employment. We’ve listed a few of the most common questions and answers to help you this tax season. Read more here.
If You’re a Business Owner Looking For a CPA
When looking for a CPA in Orange County, consider these items:
- Are they licensed?
- What is the firm’s reputation?
- Do they have experience with businesses like yours?
- Can they share references?
- Are they connected to professional organizations?
- How are they continuing their education?
Perhaps the most important need as you’re screening CPA Firms in Orange County is to make sure they can visualize your goals. Do they see the same opportunities for financial success? If not, do they have sound reasons that make sense? You want a CPA firm that does more than crunch numbers; they will be your advocate for smart business. We provide more information on when you should hire a CPA firm here.
If You Need More Time to File
According to the IRS, taxpayers who need additional time to file beyond the July 15 deadline can request a filing extension to Oct. 15 in one of two ways:
- Filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov.
- Submitting an electronic payment with Direct Pay, Electronic Federal Tax Payment System or by debit, credit card or digital wallet options and selecting Form 4868 or extension as the payment type. The automatic extension of time to file will process when taxpayers pay all or part of their taxes, electronically, by the July 15 due date. An extension to file is not an extension to pay. Taxes are still due by July 15.
Businesses that need additional time to file income tax returns must file Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns.
Tax Services in Orange County
At Hall & Company, we are an experienced Orange County CPA firm based in Irvine that is committed to providing quality tax and accounting services along with sound financial direction to clients throughout the Orange County and Southern California area. Our top OC accountants offer business development consulting, audit, tax preparation, IRS Audit, retirement planning, business roundtables, estate planning, QuickBooks consulting, Interim Chief Financial Officers, and a full range of traditional public accounting services.
Contact our experienced tax team to learn more.