This post is dedicated to those Amazing Tax Clients who helped Barbara and me in our mission to support Rory Feek's wonderful school this year, "Hardison Mill Schoolhouse" in Columbia, TN.
Today was a awesome day for us as we presented YOUR donations, along with each donor's name, to Jan Harris; school director; Rory Feek, and those very special kids. With your help, we presented to them, $14,217.00.
We would also like to ask that you remember these kids and this school throughout the year by making a donation. For information about the school and making donations, please logon to, https://www.hardisonmillschoolhouse.com/.
Barbara, Jack, and I would like to share with you some of the photos that were taken today and we hope you will treasure them as much as we will.May
Rory Feek's daughter, Indy giving Jack a kiss as Barbara held them both.
Effective Immediately: Townsend Tax Service will no longer accept any tax information thru social media or messenger as suggested by all tax agencies, since they are NOT secure avenues. * See 7 below
Information needed for the 2020 tax season (2019):
1 Copies of driver’s licenses or state issued ID.
2 Personal Data: Current Address, Everyone’s Date of Birth, SSN, Cell Phone Number, Email Address.
3 Please answer YES or NO. Do you want to make you tax preparer a third-party designee for any questions to the IRS?
4 IRS issued Personal PIN number if applicable.
5 Copies of all entry data; such as W2’s, 1099’s, mortgage statement, contributions, etc.
6 New Clients please provide copy of previous year’s return.
7 Information Submission: In Order to comply with IRS Due Diligence requirements; and documentation purposes; ALL information and data should be mailed, faxed, emailed, or dropped off; (DO NOT SEND VIA SOCIAL MEDIA OR MESSENGER).
Tax Portal (more info later)
Also, please submit any tax related questions to email address: firstname.lastname@example.org
8 Form 8879 now requires signatures of both taxpayers if applicable.
9 If direct deposit is requested, a voided copy of a check is required (it will be returned to you).
10 For child or dependent care, please provide: Name and Address of Business or Person. Also provide the Federal ID or Social Security Number.
11 Once returns are prepared, you will get an email with the results. You MUST reply back to that email as to whether or not to continue with the preparation. Once approved, Form 8879 will be printed or emailed to you for signatures and must be completed ASAP. Along with Form 8879, an auto invoice from SQUARE will be sent to you for payment.
12 To set up an appointment or ask questions; please call Barbara @ (859) 808-1394.
13 Please note that refunds may again be delayed for the 2020 tax season if certain tax credits are involved. This has become routine due to ID fraud in the past.
14 Proof of Identity letters may again be sent by the IRS and or state agencies for the 2020 tax season. These MUST be answered promptly, or any refunds WILL be delayed.
15 Remember: all applicable state tax returns are filed piggyback with federal returns.
16 Tax Organizers are available upon request and can be emailed to you.ou enjoy our site and take a moment to drop us a line.
Your tax returns are prepared for your approval. Once approved, they are e-filed to the appropriated agencies.
We will begin preparation and live transmission of income tax returns on January 15, 2020. Once the IRS and applicable states begin processing tax returns, we will post the date.
Income tax organizers are available to assist taxpayers in gathering their information prior to filing their taxes Just email us. There are no obligation on your part.
Each year clients have questions regarding their taxes. We take pride in getting those questions answered.
Customers have questions, you have answers. Display the most frequently asked questions, so everybody benefits.
Due to reoccurring check cashing issues and to maintain security; Townsend Tax Service will only be accepting Debit / Credit card payments. An auto invoice will be emailed from SQUARE. INC once preparation is completed with a link for payment.
The Auto Invoice will look like the attached sample
TOWNSEND TAX SERVICE
Form 1040 was Redesigned beginning with the 2019 tax season (2018) and remains in effect until 2025.
The new design uses a “building block” approach. Form 1040, which many taxpayers can file by itself, is supplemented with new Schedules 1 through 6. These additional schedules will be used as needed to complete more complex tax returns.
The Form 1040 - U.S. Individual Income Tax Return was rewritten to only include the five most common types of income, Federal withholding, Earned Income Tax Credit (EITC), Additional Child Tax Credit and the Education Credit. The detail for all other types of income, adjustments to income, nonrefundable, refundable credits, other payments and other taxes that existed on the previous Form 1040 have been moved to one of six new schedules:
➢ Schedule 1 - Additional Income and Adjustments to Income:
* Includes the remaining income types such as from Schedule C, D, E and F, unemployment compensation, etc., that were shown on the current Form 1040.
* All adjustments to income such as Educator expenses, IRA contributions, student loan interest, etc.
➢ Schedule 2 - Tax – Includes all lines that are used to calculate total tax such as the regular tax, tax on child’s unearned income, alternative minimum tax, etc.
➢ Schedule 3 - Nonrefundable Credits – Includes all nonrefundable credits such as credit for child and dependent care expenses, education credits, child tax credit and the new credit for other dependents, etc.
➢ Schedule 4 - Other Taxes – Includes all other taxes such as self-employment tax, household employment tax, etc.
➢ Schedule 5 - Other Payments and Refundable Credits – Includes the lines for other payments and refundable credits such as extension payment, credit for federal tax on fuels, etc.
➢ Schedule 6 - Foreign Address and Third-Party Designee – Where foreign address and third-party designee information is shown if they are applicable.
The Form 1040 also includes changes that were a result of the Tax Cuts and Jobs Act such as:
➢ Removal of exemption amount boxes and the total exemptions line.
➢ Addition of check box for the new Credit for Other Dependents (ODC) for each dependent.
➢ New Line 9 for the new qualified business income deduction (20% deduction for pass-through business income – Section 199A).
Here are some details about how the new forms are alike and how they differ from the 2019 tax season (2018):
➢ Names and Social Security Numbers. The spaces for names and Social Security numbers remain the same.
➢ Signatures. The spaces for signatures remain on page one and are largely the same, but there is no longer a separate signature box on page two.
➢ Filing Status. The final Form 1040 retains the choices for the five filing statuses: Single, Married filing jointly, Married filing separately, Head of household or Qualifying widow(er).
➢ Presidential election campaign. The option to contribute to the Presidential election campaign is the same.
➢ Personal exemptions. There are no personal exemptions available for the tax years 2018 through 2025, so those line items have been removed on the first and second pages of the Form 1040.
➢ Dependents. There is space on the front page to list four dependents again.
➢ Income reporting. The income reconciliation has been moved from the first page of the return to the second. Income from each of Schedules C, D, E, and F are now reported on a new Schedule 1.
➢ Adjusted income reporting. Adjusted gross income (AGI) is now line 7 of page 2.
➢ Standard deduction. The taxpayer’s standard deduction amounts still appear on page two, but the amounts are different.
➢ Qualified business deduction (Section 199A Deduction). The new qualified business income deduction gets just one line on the new Form 1040 (Line 9) with a note to “See instructions.” The instructions are a few pages long and include an additional worksheet.
➢ Payments. The ten separate lines for tax payments, including certain tax credits, have been consolidated into a line for withholding, another line for refundable tax credits and instructions to complete a separate Schedule 5 if needed.
➢ Third-Party Designee. The space that previously allowed the taxpayer to designate another person to discuss this return with the IRS has been moved to a new Schedule 6, though there is a tick box if he or she wishes for his or her preparer to be a Third-Party Designee.
We’re dedicated to our clients. And we've represented them in audits with the IRS. This keeps us current on tax law so we’re always ready for the toughest situations.
We developed strategies for both business and individual clients. And we work hard and long hours when they need us—even after tax season. So let us tackle your most pressing financial issues.
Unlike the large store front tax preparer, we truly care about you.
Five years ago Barbara and I decided that since God had blessed us so much in our lives, we wanted to “PAY IT FORWARD” in some way; so we committed to five (5) years of preparing taxes at no charge to those over 70 years of age, our public servants, and active military. Since those five (5) years have passed; (gee how time flies); we will be going back to regular billing for our tax clients. Please know that we appreciate everything that you do for our community and our great nation.
THANK YOU FOR YOUR TIME AND WE HOPE WE CAN BE OF ASSISTANCE TO YOU FOR THE UPCOMING 2020 TAX SEASON.
Tommy and Barbara Townsend
1 1040 (Basic) $65.00
2 Schedule 1 $25.00
3 Schedule 2 $25.00
4 Schedule 3 $25.00
5 Schedule 4 $25.00
6 Schedule 5 $25.00
7 Schedule 6 $5.00
8 State $25.00 (one state return is included with 1040, additional states are $25.00 each)
9 Extensions $25.00
10 Partnership $185.00
11 Corporation $185.00
12 Amendments $75.00
13 Depreciation Schedules (each) $25.00
14 Excel Spreadsheet $25.00
15 Tax Agency Letters $25.00
16 Tax Return Copies
a. Preparation includes one emailed and/or printed copy as requested
b. Additional printed copies: $10.00
c. Mailed copies are sent via Priority Mail based on current postal rates plus $2.00 handling fee.
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Kentucky Notary - State at Large
Barbara and I both, are proud to hold Kentucky's highest honor of Kentucky Colonel
Don't pay those outrageous preparation fees. Let us help you. We treat you like family, not a number!! Ya'll give us a shout now, ya hear. We'll be a team, like biscuits and gravy.
We love our customers, so feel free to visit during normal business hours. Give us a call. You'll be glad you did!!