Important Tax Update
Tax relief available for those affected by Hurricane Harvey
Our thoughts and prayers go out to all those affected by Hurricane Harvey. Please rest assured that we are closely monitoring any updates, provided by the IRS, that grant specific disaster relief in response to these recent events. You can find updated information at the following link, but please feel free to contact us with any questions you may have.
IRS Gives Tax Relief to Victims of Hurricane Harvey; Parts of Texas Now Eligible; Extension Filers Have Until Jan. 31 to File
Important Business Tax Update
Responding to a noted increase in identity theft involving business-related tax returns, the IRS will be asking tax professionals to gather more information on their business clients for the 2018 filing season. For 2017 business returns filed in 2018 (including Trusts, Estates, and K-1 Partnerships), your preparer may be required to gather any of the following data:
- The name and Social Security Number of the company individual authorized to sign the return
- Estimated tax payment history (when were they made, how were they made, and how much was paid)
- Potential parent company information
- Additional information based on deductions claimed
- Filing history (Form(s) 940, 941 or other business related tax forms)
We welcome you to contact Henry & Peters with any questions you may have.
K-1 Form Instructions
Shareholder's Instructions- Form 1120S
Partner's Instructions- Form 1065
Beneficiary Filing- Form 1041
The Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act passed both the House and Senate on Wednesday, December 20. This historic tax reform contains numerous provisions that that could have significant impacts to taxpayers. You can find relevant information below on how this tax reform may affect you. Please contact our professionals with any questions you may have.
Tax Law Changes - Individuals
Tax Law Changes - Businesses
Tax Law Changes - Pass Through Income Entities
Client Life-Cycle Reading Rack
The interactive calendar highlights federal and state tax due dates, special firm events and other important dates that may be of interest to you. Because the calendar is continually updated, check back often to keep track of filing requirements, deadlines and other events that will help you stay current and up-to-date.
Client Tax Organizer
A tax organizer can facilitate the process of pulling together your tax information. This basic tax organizer is designed for new clients and allows you to enter your information right on the screen. You can then print the completed tax organizer and fax or mail it to the office. Current clients should contact the office to request a “proforma” tax organizer that includes prior year information and carryover data.
Federal Tax Forms & IRS Publications
Looking for a federal tax form? Browse this online tax forms library to find downloadable IRS forms. The forms are presented in PDF format and are acceptable for filing with the IRS. You may also choose from dozens of helpful tax publications developed by the IRS to help taxpayers have a better understanding of various tax issues. Available in PDF format, these publications are written in a plain language format geared specifically to taxpayers.
Should I refinance my mortgage? How much do I need to save for my child's college education? As accounting professionals, these are some of the questions that are posed to us on a daily basis. We are providing these interactive financial calculators and other tools to assist you with some of the day-to-day questions and concerns that may arise. While these financial tools are not a substitute for financial advice from a qualified professional, they can be used as a starting point in the decision making process.