J. Floyd Swilley Enrolled Agents, LLC

02/05/2019

Much of the IRS' activity involving audits and the tax court was interrupted during the government shutdown, which means:

- There's a backlog they'll now be working through.
- Deadlines were likely missed with no workers to process requests.
- Live and walk-in taxpayer assistance slowed to a halt.

With "normal" operations now resuming, expect delays and confusion. Unless you're working with us, in which case, we'll be sorting through the mess for you. Call us if you have specific questions.

The Internal Revenue Service (IRS) was open for business on the first day of tax season, Monday, January 28, 2019. With the government shutdown over (at least for now), the IRS is trying to get back to normal. Here’s what you need to know.


02/04/2019

Too bad there wasn't anything *interesting* on TV last night.

Don't get us wrong -- great night for Patriots fans, but for everyone else ... not so much? Even the commercials left us yawning. Was it just us?

02/01/2019

Important read for knowing how to avoid IRS scrutiny related to income documents:

- What to do if you get a 1099 (definitely report it because the IRS WILL seek you out if you don't)
- What to do if you don't get a 1099 that you were expecting (don't automatically go asking for it)

It's January, and that means IRS Forms 1099 are on the way. Every one is tied to your social security number, so the IRS knows about each payment.

01/30/2019

If you receive a letter from the IRS in the mail, contact us. We can help you resolve any issue you may have, step-by-step. This is what we do for lots of folks, and we know (from experience) the most efficient and successful means of resolution. Give us a call.

01/29/2019

On the hunt for ideas to make extra cash? Quite a few original ideas here, and some avenues we've never heard of.

Looking to make money from home or in your free time? Here are some realistic ways to do it.

01/28/2019

Today's the big day, everyone. The IRS begins accepting your 2018 returns today. Here's what you need to know for this year's filing...

01/25/2019

While it is good news that tax refunds will go out despite the government shutdown, the bad news is that taxpayer support from the IRS will be next to nothing. For self-filers facing an entirely new tax code, this is not the year to go it alone. This year it will be vital to consult a tax professional to ensure your taxes are filed properly with all of the new credits and deductions you are eligible to *legally* receive.

Tax filing date? Check. Expected refund? Check. The IRS said it will take income tax returns on Jan. 28 and give taxpayers their refunds, but the shutdown could complicate other essential areas of filing season.

01/24/2019

The time has come to file your 2018 taxes (well, Monday is the official day). If you aren't sure if you need to file this year -- find out. You will pay the price for unfiled returns eventually.

This is what you'll need to gather for your tax appointment. Certain deductions went away this year, and some that you might be used to as well. This list has changed a little from past years, and we've notated additional changes coming down the pike.

01/23/2019

Put stamps on your shopping list this week. Stamp prices go up to 55 cents (currently 50 cents) on January 27th!

The Postal Service lost $3.9 billion in 2018, attributing the losses to drops in mail volume and the costs of pensions and health care. It marked the 12th year in a row the agency reported a loss despite growth in package shipping.

01/21/2019

Amidst the frigidity of today's cultural and political climate, acting on this decades-old advice may be the key to welcoming in the first warm breeze of change.

"We must develop and maintain the capacity to forgive. He who is devoid of the power to forgive is devoid of the power to love. There is some good in the worst of us and some evil in the best of us. When we discover this, we are less prone to hate our enemies."

- Martin Luther King, Jr.

01/18/2019

Because of the new Tax Cuts and Jobs Act, the IRS announced this week that they are making broader allowances this year for those who under-withheld their 2018 taxes. Normally the underpayment penalty is waived for those who paid at least 90% of their tax obligation during the year, but this year that threshold has been lowered to 85%.

For those who make estimated tax payments (like the self-employed) and those facing an unexpectedly large tax bill, this is very good news. Read more here: http://bit.ly/2DhyhWt