Federal & State Tax Filing
YesmyTaxes ® assure 100% accuracy in Tax Preparation and all Tax Returns are prepared by only qualified professional(s)(PTIN Holders, Hired EA’s and CPA’s).
YesmyTaxes ® is being authorized to E-File Tax returns of the taxpayers as an ERO (Electronic Return Originator), admitted by the IRS, who is governed by the circular 230 of the IRS regulations.
The following services are offered with respect to Tax Filing for Tax Year 2019
- All Tax Returns are prepared by Paid preparer’s (PTIN holders, EA’s and CPA’s) as per circular 230 of IRS
- Provides effective Tax Planning with respect to Refund and to reduce Tax Liability
- Accurate advice on preparing and Filing of Amendment Tax Returns (form 1040X)/ Claim for Refund
- Additional Free Services are offered to all our Existing and New customers/clients
- Free Federal E-Filing up to $ 30,000
- Free Filing for Farmers and Fishermen – Schedule F
- Free Refund Estimates for current year (TY2014) in Just 24 to 36 Hours**
- Free Tax evaluation for 3 years (TY2017, 2016, 2015)
- Free FBAR (Form TD F 90-22.1) and FATCA (Form 8938) Guidance
- Free ITIN Processing Guidance (Form W7)
- Free Unlimited Tax Representation before IRS as per circular 230
- Free Extension Filing (Form 1040, 1065, 1120S, 1120, 1120F)
- Free Manage Hosting Service
Free FBAR (Foreign Bank Account Reporting) and FATCA (Foreign Account & Tax Compliance Act)
All Citizens and Resident Aliens of US are required to file a statement regarding “Report of Foreign Bank and Financial Accounts (FBAR) Form TD F 90-22.1 with IRS, required under Bank Secrecy Act regulations issued by the Financial Crimes Enforcement Network, every year if any taxpayer is having a financial interest / signature authority over financial accounts, including bank(s), securities or any other type of financial accounts in a foreign country, the aggregate value of these financial accounts crosses or exceeds $10,000 at any particular time during the calendar year (Jan 1st 2019 to Dec 31st 2019). The due date for filing the FBAR is April 15th 2020.
If Taxpayer(s) has more than $50,000 in foreign country as in form of Bank/Securities/Deposits, then each taxpayer has to report it to IRS.FATCA stands for Foreign Account & Tax Compliance Act, FATCA should be Reported by using Form 8938 with IRS along with Income Tax Return on or before April 15th.
Free Unlimited Tax Representation before IRS per circular
230 The IRS has three years from the due date of the tax return to assess any additional taxes that may be owed by issuing an Audit Letter. The IRS has the authority to examine the taxpayer’s books, papers and other records that supports the items considered on your filed tax returns. It is always a good idea to maintain the records that are relevant with respect to the filed tax returns for at least 3 years from the date on which you have filed your taxes.
YesmyTaxes ® will be providing Free tax representation services Individual or Business Entity receives any audit notice from the IRS with regards to the previously filed tax returns. The taxpayer can write a Power of Attorney, Form 2848, appointing our Enrolled Agents to represent the case before the IRS, this Power of Attorney will authorize us to act on behalf of taxpayers in the tax matters only.
Withdrawal of funds from Retirement Accounts
If the taxpayers contribute funds to 401(k) or Individual Retirement Account (IRA) plans, they can withdraw the funds anytime (early withdrawal before reaching 59.5 years of age) from those retirement accounts if they are in need of funds. One can take loans from the Retirement Accounts or also withdraw the funds permanently in which case the taxpayer’s are liable for 10% early withdrawal penalty. In some cases, IRS allows taxpayers to withdraw funds from the retirement accounts without incurring the early withdrawal penalty.