Quality & Superior Financial Services: Tax and Debt Solutions

📢 Important Tax Reminder: 1099-R Forms 📢

Attention taxpayers 💚

If you received retirement income in 2025 (pension, IRA, 401(k), annuity, or early withdrawal), you may receive a 1099-R and it must be included with your tax return.

✅ This includes:
• Retirement or pension distributions
• 401(k), IRA, or annuity withdrawals
• Early withdrawals or rollovers

⚠️ Filing without your 1099-R can cause:
• IRS delays
• Amendments
• Refund holds or notices

Please make sure you have all tax documents, including your 1099-R, before filing. If you’re unsure whether you need it, feel free to reach out—I’m happy to help! 📩

📢 Important Tax Reminder: PATH Act Refunds

Friendly reminder to all my taxpayers 💚

If you claimed EITC (Earned Income Tax Credit) or ACTC (Additional Child Tax Credit), your refund is affected by the PATH Act.

✨ What this means:
• The IRS cannot issue refunds that include EITC or ACTC until mid-February
• This is a federal law designed to help prevent fraud
• Even if your return is accepted early, the refund will be held temporarily

⏳ Most PATH Act refunds typically start releasing after February 15, with direct deposits following shortly after (as long as there are no other issues).

Thank you for your patience and understanding! If you have questions about your specific return, feel free to reach out 📩

🚩What are red flags for tax preparer fees?

Red flags for tax preparer fees include charging a percentage of your refund, hiding fees, not signing the return (ghost preparer), demanding cash or direct deposit of your refund into their account, promising huge refunds, rushing you to sign without review, and lacking a PTIN or transparency about costs

These signal potential fraud and conflicts of interest.

🚩Fee-Related Red Flags

%Fee Based on Refund Size: A preparer charging a percentage of your refund incentivizes them to inflate claims.

🧐Unclear Fees: Lack of transparency about how fees are calculated is a major warning sign.

🖊️Preparers: Refusing to sign the return or sign it as "self-prepared," as the IRS requires paid preparers to sign and include their Preparer Taxpayer Identification Number (PTIN).

🏦Refund Direct Deposit: Asking for your refund to be deposited into their bank account.

⌛️Pressure to Sign Blank Forms: Rushing you to sign a blank or incomplete return.

💰Unrealistic Refund Promises: Guaranteeing a large refund before reviewing your documents, as legitimate preparers base estimates on your actual situation.

💵Cash-Only Payments: Demanding payment in cash without providing receipts.

🚩What to Do If You See Red Flags

🕵🏽‍♀️Report Them: File a complaint with the IRS Form 14157 or Fraud.org.

🙇🏽‍♀️Choose Wisely: Look for preparers with PTINs and transparent with fixed fees.

Fraud Fraud.org is a project of the National Consumers League (NCL), a nonprofit advocacy organization based in Washington, DC. NCL was founded in 1899 to promote the interests of consumers and workers in the United States and abroad. Over its long history, NCL staff have dedicated themselves to this miss...

How to read your tax transcript once your returned has been e-filed.

Decoding IRS Transcripts and the New Transcript Format: Part II Many individuals may not know they can request, receive, and review their tax records via a tax transcript from the IRS at no charge. Part I explained how transcripts are often used to validate income and tax filing status for mortgage applications, student loans, social services, and small business...

Smh!

JUST FILING FOLK TAXES KNOWING YO SSA WAS FRAUD

A St. Louis tax preparer on Monday admitted preparing at least 41 fraudulent tax returns for the tax years 2017-2021.

Shasherese M. Reed, 53, pleaded guilty to two counts of aiding and assisting in the preparation of false and fraudulent tax returns. Reed admitted using a tax preparation business, Majac Money, which was opened by her daughter because the IRS revoked the Preparer Tax Identification Number (PTIN) assigned to Reed and her business, Sha-Sha Taxes, in 2015. Reed falsely identified her daughter as the paid preparer on the tax returns that Reed prepared at Majac Money. On these returns, Reed commonly included a false Schedule C that reported tens of thousands of dollars in business expenses, when the taxpayer either had substantially smaller expenses or did not own a business at all. Reed also claimed false and fraudulent deductions for things like state and local taxes, medical and dental expenses and mortgage interest, her plea agreement says.

Reed also admitted preparing a fraudulent tax return for an undercover agent with IRS Criminal Investigation who was posing as a potential client of Majac Money. Without ever asking if the agent had a business, reed prepared a return that included a false Schedule C showing $26,242 in business expenses, the plea agreement says.

Reed charged clients hundreds of dollars in fees for preparing returns, making about $378,026 in fees for the 2017-2021 tax years. Her plea says she prepared at least 41 false tax returns for 13 different taxpayers, costing the IRS at least $312,192.

Reed is scheduled to be sentenced May 6.

The IRS e-file system is officially OPEN! So here are a few things to keep in mind:

1. Your tax preparer does not control when the IRS accepts your return.

2. Your tax preparer can not work magic. Your refund or tax bill is based on what you did throughout the year. After all tax credits and deductions have been applied based on what you QUALIFY for that's it.

3. Your tax preparer does not control when your tax refund will be issued to you. You can always check where is my refund to find that out.

4. If you feel like your tax preparer does not know what they are doing PLEASE do not waste their time. Just find someone else to file your return or you can file it yourself. There are tens of thousands of tax preparers out here.

#2025