Shakopee Accountant answers: “What now?”

The dust is truly beginning to settle around our Shakopee, MN tax preparation offices after our very busy TY2011 tax season (ok, maybe that’s just pollen).

Regardless, we’re beginning the process of serving you during the “off season”, and evaluating how things went. To that end, I’ve got ONE BIG FAVOR TO ASK:

(If you haven’t already done so) Would you take three minutes, right now, to jot me a quick email about your experience with me and my staff? It really helps us to evaluate our season. Plus, it’s helpful feedback for new and potential clients. I’ve found that I can “promise the moon”  with a potential client, but they really want to hear from somebody like YOU.

One more thing on this: could you be as specific as possible? You may not be comfortable disclosing savings amounts, refunds, etc, but as much as you’re willing to share, would be great!

Thanks again…and THANK YOU for trusting us with your finances this year. We know how personal it is to you!
Your Shakopee Tax Professional ‘s FAQ Guide For After The Tax Return Dust Settles
It’s a familiar feeling.

Relief. Exhilaration (or frustration at having to pay *more* taxes!). Gratitude for a job well done by your preparer.

Unless you’ve filed for an extension, however you feel about your tax return…chances are, it’s done.

But, even now, we do get some questions. So, I thought I would answer some of the basic ones for you. If you have any additional questions, feel free to give us a call (952-445-8753) or send me an email.

We’re here for you!

1. “When will I get my refund?”
Well, the IRS does seem to have entered the 21st century.

If you had us “e-file” your return, you can check your status right now, or if you had us mail a paper return, after about 3 to 4 weeks.

When you’re checking with the following options, make sure you have a copy of your tax return on hand or know your “filing status”, SSN and the exact dollar amount of the anticipated refund.

Online: Go to IRS.gov and click on Where’s My Refund.
[or go right to: http://www.irs.gov/individuals/article/0,,id=96596,00.html ] • Automated Phone: Call 1-800-829-4477 24 hours a day, 7 days a week for automated refund information.
In-Person Phone: Call 1-800-829-1954 during the hours shown in your IRS form instructions. [Of course, the hold time for the IRS is … somewhat of an issue 🙂]

2. “Do I need to keep a copy of my return?”
Yes, for a *minimum* of three years. There’s all kinds of contexts where it’s useful. We do keep one on file, on your behalf, but it’s just smart and safe for you to keep one in a secure place at home. (I’ve already written about Amended Returns, and you need a copy for that process, of course.)

As for the supporting documents from your return, anything that relates to a home purchase or sale, stock transactions, retirement, business or rental property, should be kept much longer than the three years.

3. “I think there’s a mistake in my return. What should I do?”
Sometimes, you’ll find a receipt or a documentation after April 17th which really would have changed your prior year tax return. That’s, again, when you would have us file an “Amended Return”. Here are some other common reasons to Amend…
•           You neglected to report some income earned.
•           You claimed deductions or credits you should not have claimed.
•           You did not claim deductions or credits you could have claimed.
•           You filed under one filing status, but you should have filed under another.

You might have other questions, which I haven’t addressed here. Let me know!

(And don’t forget to write me a quick note about your experience! THANK YOU!)

R MendenShakopee Accountant answers: “What now?”