2021 has ended, but a new challenge awaits: paying your 2021 taxes. Due to many new tax laws and tax credits, numerous things have changed for the 2022 tax season. Let's look at the most significant tax season updates for 2022.
Don't hesitate to contact us if you need help or have any questions, or click the button below to make an appointment with a seasoned tax pro in Villa Rica.
Here are the critical dates listed by the IRS that taxpayers should remember for the 2022 tax season:
From January 1 to May 17, 2021, the IRS phone systems received more than 145 million calls, more than four times the number of calls received in a typical year, due to COVID-era tax reforms and larger epidemic difficulties.
Before contacting the IRS, customers are encouraged to check online resources. You can also call RWB Tax Services in Villa Rica, GA, for help.
The average tax refund was more than $2,800 last year. More than 160 million individual tax returns are projected to be filed for the 2021 tax year, the great majority of which will be done before the typical April tax deadline.
In general, the IRS expects most taxpayers to get their refund within 21 days of filing electronically if they choose direct deposit and their tax return is error-free. The Internal Revenue Service (IRS) encourages individuals and tax professionals to file online to speed up the return process. People should avoid filing paper returns whenever feasible to prevent processing delays.
The IRS is prohibited from issuing refunds for the Additional Child Tax Credit or the Earned Income Tax Credit before the middle of February. However, qualified taxpayers may submit their forms beginning on January 24. This extra period is provided by the law to assist the IRS in preventing false refunds from being distributed.
If the IRS systems identify a possible error or missing information, or there is suspected identity theft or fraud, some returns may require manual examination, which slows processing. Some of these circumstances require communication with taxpayers, while others do not. Because this activity involves special handling by an IRS employee, the IRS may take longer than the standard 21 days to process returns with errors. That is why it is critical to hire an experienced, local tax professional like RWB Tax Services in Villa Rica, GA, who knows all of the recent tax law changes and can make sure your return is error-free for the fastest return possible.
Before filing your taxes this year, here are a few things that you should be aware of:
For monetary donations made to qualifying organizations in 2021, taxpayers who do not itemize deductions may be eligible for up to a $600 deduction for married taxpayers filing joint returns and up to $300 for all other filers.
Families who got advance payments will need to compare the amount of the child tax credit they will be able to claim on their 2022 tax return with the amount of the child tax credit they received in 2021.
On their 2021 tax return, taxpayers who got less than the maximum amount of their child tax credit will claim a credit for the leftover balance.
Qualified families who did not get advance payments in 2021 may still receive a lump-sum payment by submitting a 2021 federal income tax return and claiming the child tax credit. This includes families that don't usually file a tax return and families with no income.
The IRS will issue Letter 6419, detailing the total amount of advance child tax credit payments that filers received in 2021. You should keep this letter and any previous IRS letters concerning advance child tax credit payments with your tax records. Individuals can also see their child tax credit payment amounts by creating or logging into an IRS.gov online account.
Based on their 2021 tax information, individuals who did not qualify for the third economic impact payment or did not get the entire amount may be eligible for the recovery rebate credit. However, they'll need to submit a 2021 tax return to claim the credit, even if they didn't have any income for 2021.
When filing their tax return, individuals will need the amount of their final economic impact payment, as well as any plus-up payments, to determine their exact 2021 recovery rebate amount owed.
The IRS will send Letter 6475 in early 2022, including the exact amount of the third economic impact payment and plus-up payments received. Individuals can also securely access their economic impact payment amounts by creating or logging into an IRS.gov online account.
The IRS recommends that taxpayers take the following steps to avoid processing delays and expedite refunds:
Tax documents that are organized make it easier to prepare a correct tax return. It assists you in avoiding errors that cause processing delays, which slow down your return, and it may also help you locate previously overlooked deductions or credits.
Wait to file until you have all of your tax records, which may include the following:
Address changes should be reported to the IRS, and legal name changes should be reported to the Social Security Administration.
Remember that most income is taxable. This includes:
If you owed taxes or received a substantial refund last year, you may want to modify your withholding. Changing your withholding can save you money on taxes and allow you to retain more money each payday. In addition, changes in life, such as marriage or divorce, the birth of a child, or the addition of a second job, may necessitate a change in withholding.
Use the Tax Withholding Estimator to determine how much tax should be withheld from your paycheck. If you need to alter your withholding and submit a new Form W-4 to your employer, use this tool on IRS.gov.
Our team at RWB Tax Services has over 50 years of combined experience. For over 13 years, they've helped clients in Villa Rica, Douglasville, Carrollton, and West Georgia get the largest tax refunds legally.
You can trust RWB Tax Services to complete your taxes correctly, on time, and at a reasonable cost. We can help you avoid costly tax mistakes in Georgia so you can prevent thousands of dollars in tax penalties. Don't hesitate to reach out to us by calling 770-456-9980 today.
There are many questions about the Economic Impact Payment stimulus, and RWB Tax Service will try to answer them for you. As we learn more information, we will add it here. So check back often!
There are many reasons why you might not have received your Economic Impact Payment yet.
The IRS is still releasing payments over the next few weeks, and yours may just take a little longer to get to you. Some people are having theirs directly deposited into their accounts, while others will be receiving a paper check in the mail.
There are a variety of reasons why people do not have to file taxes. If you traditionally do not file a tax return you may need to do so in order to receive your Economic Impact Payment. To determine if you need to file this year, Go to IRS.GOV
If you filed your tax return and received your refund using a loan advance bank product, let me try to explain what seems to be happening with your EIP Check.
When you began the process of getting a refund advance, you agreed to open an account with the providing bank. This account was open to issue you a loan (if applicable), process a payment to your tax professional, and then sending you the remaining proceeds (your tax refund). When your return was processed, the IRS was provided the routing and account number of that account. Once the IRS funded your refund you received the balance in the form of a direct deposit, check or card. Then the bank CLOSED that account.
Now that the IRS is trying to send out EIP funds, they have that closed loan account information on file, instead of your direct banking information. When the IRS used the routing and account number for the EIP, it is directed to a now closed account and those funds are sitting at the bank. The bank has no way to put the funds in the closed account. So the only option the bank has is to return the funds to the IRS.
Now here is where I have to speculate: if you can put your direct deposit information in the “Get My Payment” tool at IRS.GOV. Then you have a hope of getting this via direct deposit. If you can’t then it will change to a paper check mailed to the address of record. These checks are scheduled to start coming out the first week of May and will be sent on a rotation based on your Adjusted Gross Income. Those with incomes below 20,000 will come out first. The 30,000 the following week etc.
I hope this helps explain the process and helps you understand why your EIP may be a little slower getting to you, but it will come.
1. Social security income – Do you have dependent children under 17? Yes, you need to enter your information at IRS.gov.
2. Social Security income not direct deposited – Yes you need to enter your information if you want to receive the payment by direct deposit.
3. Receive Social Security Income by Direct Deposit- NO you do not need to file.
4. Income level below filing threshold – 12,200 single, 24,400 married filing joint – Yes you need to use the link
5. I have not provided my direct deposit information to the IRS – You will receive your payment by check.
6. I haven’t filed yet, If you filed 2018 you will still get your check. If you provide your banking information you will receive your payment direct deposit otherwise you will receive it by mail.
7. No Banking information provided to the IRS – you will receive your payment by check.
8. Incorrect banking information provided to the IRS – There will be a link mid-April to update that information. Do NOT use the non-filer link.
The payments will not have to be repaid if you receive too much. If you receive too little there will be reconciliation when you file your 2020 tax return.
These are just a few answers, I am sure this doesn’t cover every situation. If you haven’t filed yet, I urge you to file as soon as possible. If you are confused or can’t fill out the link from the IRS we are open to help you.
Available only on IRS.gov, the online application is safe and secure to use. Taxpayers only need a few pieces of information to quickly obtain the status of their payment and, where needed, provide their bank account information. Having a copy of their most recent tax return can help speed the process.
For taxpayers to track the status of their payment, this feature will show taxpayers the payment amount, a scheduled delivery date by direct deposit or paper check and if a payment hasn’t been scheduled.
They will need to enter basic information including:
Taxpayers needing to add their bank account information to speed receipt of their payment will also need to provide the following additional information:
Get My Payment cannot update bank account information after an Economic Impact Payment has been scheduled for delivery.
To help protect against potential fraud, the tool also does not allow people to change bank account information already on file with the IRS.
A Spanish version of Get My Payment is expected in a few weeks.
Don’t normally file a tax return? Additional IRS tool helps non-filers:
In addition to Get My Payment, Treasury and IRS have a second a new web tool allowing quick registration for Economic Impact Payments for those who don’t normally file a tax return.
The Non-filers: Enter Payment Info tool, developed in partnership between the IRS and the Free File Alliance, provides a free and easy option designed for people who don’t have a return filing obligation, including those with too little income to file. The new web tool is available only on IRS.gov, and users should look for Non-filers: Enter Payment Info Here to take them directly to the tool.
Did not file taxes: Enter Payment Info is designed for people who did not file a tax return for 2018 or 2019 and who don’t receive Social Security retirement, disability (SSDI), or survivor benefits and Railroad Retirement benefits. Additional information is available at https://www.irs.gov/coro…/non-filers-enter-payment-info-here.
No action needed by most taxpayers: Eligible taxpayers who filed tax returns for 2019 or 2018 will receive the payments automatically. Automatic payments will also go in the near future to those receiving Social Security retirement, or disability (SSDI), or survivor benefits and Railroad Retirement benefits.
We recommend you file them right away, and we can help!
There seems to be a delay for people who haven’t filed their 2019 taxes yet. Also, if you had any changes to your banking since filing in 2018, the IRS does not have updated information.
There has not been a definite answer released yet, but I suspect you will have to wait for the bank to reject your deposit and then you will have to enter the correct direct deposit information or it will convert to a mailed payment.
Right now there isn’t a way to correct that by phone, website or any instructions. There is a form you can complete, but there is not a person at the IRS to process that change.
If your business has already received a First Draw PPP loan, you may be eligible for a Second Draw PPP Loan. New companies that have not already received a PPP Loan are now allowed to apply for a First Draw PPP Loan.
Here are some critical updates listed by SBA for Second Draw PPP Loans:
The April 18th Tax deadline is right around the corner, and like many other taxpayers all across the USA, you may be panicking. But don't worry! The information found in this article provided by the tax pros at RWB Tax Services in Villa Rica and Douglasville, Georgia, will cover all your tax extension questions.
You'll learn how to file for a tax extension, the benefits of filing an extension, and what penalties to expect if you miss the deadline. We'll also discuss how much time a tax extension actually gets you. So please read on to find out how to get a little more peace of mind as we approach Tax Day!
The deadline for filing your taxes for this year is quickly approaching. We all know that. But it's not too late to file for a tax extension if you need one. First, however, you will need to fill out Form 4868 and mail it in asap. But we'll go over that in greater detail later.
For now, you'll especially want to know the following basic facts before filing an extension on your income taxes:
A tax extension is basically the process of filing your taxes after the original deadline. So, if you are granted an extension, you will receive an additional six months' worth of time to finish and file your tax return.
Life happens! In this post-Covid 19 world, there are numerous reasons that you just didn't get to finish your taxes. Maybe you or a family member were sick - or perhaps something else significant happened to you and your family.
It might even be something minor. Either way, life happened, and at this moment in time, you're not entirely ready to submit your completed income taxes to the IRS on the April 18th due date. But there is good news: If you need more time to prepare your tax return, you can ask for a time extension to complete and file your tax return, up to October 15th, from the Internal Revenue Service.
The reason you need a tax extension from the IRS doesn't really matter. The IRS gives them automatically as long as you fill out the proper form, Form 4868, and send it in before the due date. However, if you think you're going to need it, don't put off filing for an extension until the last minute either! If you have questions, you can contact RWB Tax Services and speak with an expert tax preparer right now at 770-459-9980.
If you file for a tax extension, you will need to pay interest on any unpaid taxes if you owe money after April 18th. Additionally, the IRS will charge penalties if you don't submit your final return by the original extended deadline of October 15th.
With more time and less stress on your side, you'll now be able to confidently review and complete your tax returns and confirm that you're going to claim all available tax benefits that you can. Plus, you'll bypass the failure-to-file consequences, which can total up to 25% of the taxes due if you do owe anything!
A tax extension will end up giving you much more time to complete your income taxes. This is because the IRS grants an automatic extension for an additional six months past the April 18th deadline.
When you do owe any money to the IRS, remember that filing an extension only gives you more TIME to submit your income taxes - not more time to PAY! Your payment is still due by the deadline for filing your taxes.
On the other hand, if you forget the Tax Day deadline because you're in the hospital or you're out of the country, you do have choices. Even if you have some other reason why you can't get your taxes filed before April 18th, then extend for as long as possible using Form 4868!
You get an extra six months of time to file your taxes if you get a tax extension. Simply put, you now have until October 15th to file your completed return instead of the original April 18th deadline.
If you owe money when April 18th comes around, then you'll need to file Form 4868 by April 17th to avoid paying penalties on your overdue tax balance. If you do not owe any money to the IRS, then it's worth considering filing an extension just for peace of mind. But remember, extensions only give you six extra months past the original deadline of April 18th - so plan accordingly!
If you miss the Tax Day deadline, just know that you will be charged a penalty fee.
The penalties for missing the tax deadline are as follows:
If you haven't filed your taxes yet, don't worry. You can still get an extension to file them! You'll need to file for a tax extension using Form 4868 and attach this form to your final return in order to receive the extended due date of October 15th.
You can also file for a tax extension by calling the IRS at 800-829-1040. They will talk you through the procedures over the phone and will give you a confirmation number.
Even easier, if you're still confused, why not give RWB Tax Services in Villa Rica, GA, a call and speak to a real person? These tax experts will be able to answer any questions that you have about them and their work. Call RWB Tax Services now at 770-459-9980.
Yes. Thankfully, you can always get extra time to file your return if you ask early enough. Some people try to get an extension every year. It doesn't matter how much money you make or what kind of tax status you have.
To request an extension, complete Form 4868. You can either print and mail Form 4868 or electronically file it. Don't forget to include an extension payment if you owe income taxes.
Certain states automatically extend your deadline whenever you apply for a federal extension. Others demand you apply for a state extension separately. Seek the advice of your state or a tax prep like those at RWB Tax Services to ensure you avoid any late filing penalties.
This question has a very simple answer: NO.
Extending your tax return does not give you additional time to pay your taxes. However, if you believe you will owe any money, you should include a payment with your application for an extension to avoid penalties and interest.
Even if you are confident that you will receive a refund, you should file your tax return as soon as possible. Submitting your taxes becomes more complex as time passes, and you take the chance of forgetting significant facts about the tax year if you keep putting them off.
If you served in a battle zone or were stationed internationally during tax filing season, you will be granted an automatic extension. If you are eligible for that extension, you will typically have an additional 180 days to file and pay any federal income taxes owed.
The extension will be accepted as long as it is properly filed. The simplest way to ensure that this process goes as smoothly as possible is to use a tax software service or tax professional like RWB Tax Services in Villa Rica, GA, that confirms your extension once it has been approved. If you file on your own, you can call the IRS customer service line (800-829-1040) to make sure you did everything correctly.
This upcoming tax season might be a nightmare for many Americans whose lives have been affected by the pandemic, among other things. Because you're one of them, you should contact a knowledgeable tax preparer who is aware of the latest trends and updates for this tax season, like RWB Tax Services in Villa Rica, GA.
When you want to make sure your taxes are successfully done and avoid potential tax mistakes that might cost you big bucks, our Georgia tax professionals at RWB Tax Services, with over 50 years of combined experience, are here to support you! Call RWB Tax Services at 770-459-9980 right away.
If you’re looking for a local team offering reliable business tax services in Villa Rica, GA, we’re here to help you address your tax obligations with confidence. At RWB Tax Service, we help businesses of all sizes stay compliant, save money, and keep tax season stress-free.
From filing returns to planning ahead for growth, our tax professionals make sure your taxes are done right the first time. We know every business is different, so we customize our business tax services to fit your needs. With clear guidance and expert support, you’ll always know where you stand and how to plan for the future.\
Call RWB Tax Service today at (770) 456-9980 or connect with us through our online form to schedule your free consultation. Let’s work together to build a plan that makes tax time simple and stress-free for your business.
Tax season can be a headache for anyone. For businesses, it can feel like a mountain of paperwork, deadlines, and calculations. Our Villa Rica business tax services take care of all that for you!
We handle everything from filing to keeping you compliant with state and federal tax regulations, and we do it in a way that minimizes your tax liabilities. We also keep an eye on potential tax credits or deductions that could save you money. Our goal is to help you keep more of what you earn. You’ll never have to worry about missing a deadline or making a costly mistake. We’ve got it covered!
Good bookkeeping is the foundation of any successful business. Without accurate records, it’s easy to miss out on potential savings or make decisions based on incorrect data. Our bookkeeping services ensure that every transaction is properly recorded, categorized, and easy to access. We work with you to create a system that fits your business needs.
No more sifting through piles of receipts or last-minute stress about your finances. We make sure everything is organized and up-to-date, so you can focus on what you do best - growing your business.
Starting a new business is exciting, but it comes with a lot of moving parts.
RWB Tax Service is here to help you get your new business off the ground. We will make sure your documentation is filed correctly to make your new business legitimate. We can also set up your financial books to make tax time quicker, easier, and accurate.
Here are some of the start-up requirements we help with:
Managing payroll can be a huge time-suck. There are taxes to calculate, deductions to make, and schedules to keep track of. We handle it all, ensuring your employees get paid on time, every time. Plus, we make sure you're staying compliant with all the necessary tax laws and regulations.
We’ll manage your payroll so you don’t have to. You’ll get accurate, on-time paychecks for your team, and you'll stay on top of all required filings. We make it straightforward and easy so you can focus on running your business.
Tax services aren’t just about filing returns once a year. They’re about keeping your business in the best shape possible all year long. With our year-round consulting, we work with you to plan ahead and make smart decisions.
We can help with everything from tax planning to budgeting and beyond. With regular check-ins, we make sure you're staying on track throughout the year. We’ll also alert you to any changes in tax laws that could impact your business, so you always know the latest.
Choosing the right business tax service can make a world of difference for your business. Here’s why so many people in Villa Rica, GA, trust the professionals at RWB:
Georgia has its own tax rules that can trip up even experienced business owners. From corporate income tax to sales tax and local regulations, there are details that matter. We stay up to date with every change in Georgia tax law so you don’t have to. Our team understands how these rules apply to different industries, so your business can operate smoothly without the stress of navigating complicated state codes.
With more than a decade of hands-on experience, we’ve seen just about everything when it comes to business taxes in Villa Rica, GA. From startups filing their first return to established companies dealing with audits, we’ve handled it all. That experience means we can quickly identify the best strategies to reduce your tax liability, catch potential problems before they grow, and keep your books clean and accurate.
Business tax services shouldn’t come with hidden surprises. We keep our pricing simple and upfront, so you always know what to expect. Whether you run a small LLC or a growing corporation, you’ll never have to worry about unexpected fees showing up on your bill. Our goal is to build trust with clarity from the very beginning.
Every business in Villa Rica is different, and your tax plan should reflect that. We take the time to understand your business structure, industry, and goals before putting together a tax strategy. That might mean helping a small business owner find deductions they didn’t know about, guiding a new corporation through quarterly estimated payments, or handling payroll tax filings for a growing business. You’ll always get service that honors your business goals.
We’re not here just to file taxes once a year and disappear. Our approach is all about long-term partnerships. We’re available throughout the year to answer questions, offer guidance, and adjust strategies as your business grows. Our clients stick with us because they know we put their success first, and we back it up with real results–accurate filings, fewer headaches, and smart tax planning that supports growth.
We are a group of deeply experienced and dedicated tax and bookkeeping experts committed to delivering top-notch service to our clients. The RWB Tax Service team boasts a collective experience of over 50 years, bringing an unparalleled level of expertise that seasonal tax employees cannot match. You can have peace of mind knowing that your taxes, bookkeeping, and payroll will be handled with precision. Secure your financial future with the dedicated professionals at RWB Tax Service.
We work with all kinds of businesses across West Georgia. Our team is familiar with the tax requirements for all types of industries, so no matter what you do, we’ve got your back. Some of the top industries we serve include:
Ready to take the stress out of your business taxes? Give us a call at RWB Tax Service! Our team is here to offer support and answer all your tax questions. We’ll guide you through the process, explain everything clearly, and make sure you’re always on the right track.
Call us today at (770) 456-9980, and let’s talk about how we can help you save time and money so you can focus on running your growing enterprise. We’re excited to help your business thrive with top-notch tax services!
FAQs
Yes, pretty much all businesses in Villa Rica, GA are required to file state income taxes. This includes corporations, LLCs, partnerships, and even sole proprietors. The only exception might be if your business didn’t make any income for the year, but in that case, you still need to file to stay compliant. If you’re unsure about your filing requirements, give us a call. We can help you figure it out.
For most Villa Rica, GA businesses, the filing deadline is April 15 for your income tax return. But it’s a little different depending on your business type. For example, if you run a corporation or an LLC, there might be specific deadlines you need to be aware of. It’s always good to mark your calendar early to avoid any penalties. If you need help making sure you don’t miss a deadline, we’ve got your back!
Yes! We can help you get caught up and figure out a solution. Whether it’s filing back taxes, setting up payment plans, or working with the IRS to settle your balance, we’ll walk you through your options and take the pressure off. It’s never too late to get things sorted out, so let us help you find the best way forward.
Small businesses in Georgia can access some pretty incredible tax benefits! Some of the most common ones include tax credits for job creation, energy-efficient equipment, and R&D activities. You may also be able to deduct expenses related to business operations like office supplies, travel, and even certain vehicle costs. We’ll help you spot all the deductions and credits you qualify for, so you don’t leave any money on the table.
We’re in it for the long haul! While we’re always here to help at tax time, we offer year-round consulting and support. We believe it’s better to stay on top of things throughout the year rather than scrambling at the last minute.
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