Midwest CPA, LLC

5 days left… and I’m running on caffeine, spreadsheets, and pure determination 😅📊
If you’ve ever wondered what tax season looks like—this is it: late nights, tired eyes, and a desk covered in notes that somehow still make sense (for now).

Almost there… just gotta survive the final stretch 💼🔥

To avoid tax refund delays, be sure to include your bank account and routing numbers on your tax return. The IRS is moving away from paper checks, and approximately 830,000 taxpayers are experiencing refund delays after filing without direct deposit information. The IRS has already sent 530,000 notices, with another 300,000 expected, to those who didn’t provide bank account details. Refunds by paper check may be delayed by 10 weeks or more.

Pass-through entities generally don’t owe federal income tax at the entity level, but they still must file federal income tax returns. These entities include partnerships, limited liability companies treated as partnerships for tax purposes and S corporations. If your pass-through entity uses the calendar year for tax purposes, as most do, the filing deadline for the 2025 tax year is March 16, 2026 (because March 15 is on a Sunday). The deadline can be extended to Sept. 15, 2026, by filing for an extension by March 16. If you do that, you (and any other owners) will also likely need to file an extension to Oct. 15, 2026, for your individual return. Contact us to get things rolling.

At the recent D.C. Bar Tax Conference, former IRS and U.S. Justice Dept. officials warned about challenges during the upcoming tax filing season. One challenge is that significant IRS staffing reductions mean fewer staffers will be available to help taxpayers. The conference panel also discussed the reorganization of the civil litigation and criminal tax units within the Justice Dept. A panelist noted that it resulted in many staff resignations, putting a “huge strain on the attorneys who remain.” On the plus side, the panelists were optimistic about the role automation, robotics, AI and other technology tools might play in solving IRS problems.

Are you thinking about buying a “heavy” business vehicle before year end? An SUV, pickup or van with a manufacturer’s gross vehicle weight rating (GVWR) over 6,000 pounds that’s used over 50% in your business is treated as transportation equipment for tax purposes. That means the business percentage of its cost can qualify for 100% first-year bonus depreciation. Heavy vehicles used over 50% for business may also be eligible for Sec. 179 expensing. But the maximum Sec. 179 deduction for 2025 is generally only $31,300 for vehicles with GVWRs between 6,001 and 14,000 pounds. To claim these breaks for 2025, you must place the heavy business vehicle in service by Dec. 31, 2025. Contact us to learn more.

🎄✨ Merry Christmas from our 2nd Annual Midwest CPA Christmas Dinner! ✨🎄

Nothing beats good food, loud laughs, and spending time with the people who feel like home. So grateful for another year of memories, traditions, and togetherness. ❤️