We want you to know that help is available. Of course, we have tax specialists at our Tampa CPA firm who would be happy to assist you, but we understand that not everyone in Tampa needs a CPA  to prepare their 1040 tax return.  

So, where can you go for help? 

The IRS Offers Free Filing Tools

The IRS cares about U.S. taxpayers. Really. And if they had the time, they would be happy to talk to you, but budget cuts have left the service understaffed, under-resourced and, for the most part, overwhelmed. 

But they’re trying.  

For example, the IRS now offers Free File, which allows you to do your taxes for free online. There are two free options, depending on your income:

• Guided Tax Preparation provides free online tax preparation and filing through one of the partnerships the IRS has created. Taxpayers whose adjusted gross income is $73,000 or less qualify to use this method to complete and file their 1040 tax return.

• Free File Fillable Forms Is a free option for taxpayers whose adjusted gross income is greater than $73,000. If you are going to use this option, you really need to know how to prepare your own 1040 tax return without the help of any handy software to guide you. You’ll have to rely on the IRS’s form instructions and publications. 

Filing your 1040 tax return electronically is more important than ever – especially if you are expecting a refund. Filing online is safe and secure and you will find all of the federal tax forms you need, equivalent to a paper 1040 form.

If you’re filing a 1040 EZ, you probably don’t need the assistance of one of our Tampa tax specialists. But if you do need help or just don’t want to go it alone, you’ll find the assistance you need at Walter S. Sanders & Associates, a small CPA firm in Tampa that offers personalized service. Contact us to take the first step.

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If for some reason you aren’t able to file your 1040 tax return quickly this year, then the only advice we can offer is to be patient. 

As CNBC reports, “this tax season will be a hectic one.“

Usually, the IRS Is able to Issue tax refunds within 21 days of when most 1040s are filed. “This year it could take longer than that, for a few reasons,” CNBC says. “To start, the agency still had 6 million unprocessed individual 2020 returns as of December 23, 2021, comprised mainly of those with errors made by the taxpayer and those with Recovery Rebate Credit amounts being corrected by the IRS. That’s millions more than the typical yearly backlog.”

Additional reasons why you’ll want to file early, according to CNBC, include:

• Like many employers around the country, the IRS is short-staffed. 
• Taxpayers submitted more than 2 million amended 2020 returns as of Jan. 1, 2022. 
• The IRS is still processing some corrections for people who paid too much in unemployment insurance taxes in 2020.
• And, last but not least, there’s Covid. Not just the delays caused by employees being out sick or having to work from home or the need to accommodate for social distancing. As CNBC says, “Staff is dealing with Covid-related tax changes like the third economic impact payments and child tax credit payments. All of that takes time to verify.”

The 2022 Tax Season Has Begun

The Internal Revenue Service kicked off the 2022 tax filing season on Jan. 24 by urging tax payers to be sure their 1040 tax returns are accurate before filing as a way to speed refunds avoid delays. They also recommend that you file electronically to help speed refunds. 

If you need help preparing your taxes and want to ensure that they are filed accurately and electronically, contact the Tampa tax specialists at Walter S. Sanders & Associates. 

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If you are having a hard time getting festive this year, you are surely not alone. Covid-19 is enough to cast a shadow on even the jolliest elf’s day. This holiday season will be a different one for all of us, but there are still plenty of bright holiday lights shining in the dark. 

If you live in the Tampa area, there are still plenty of holiday happenings that can help to brighten your days. If you are looking for something to help get you in the spirit, we recommend the Riverwalk Holiday Spectacular.  

Holiday Spectacular

This is only the second year for the Riverwalk Holiday Spectacular in Downtown Tampa, so there won’t be any cancelations of long-standing traditions to weigh you down. The Riverwalk is beautiful any time of year, but thanks to the Friends of the Riverwalk, during the holidays it is even more magical. 

Through January 2, you and your family can enjoy:

• A 35-foot-tall LED-lighted Christmas tree floating in the harbor
• A holiday selfie station at the pirate water taxi ticket booth
• A lighted pine tree forest on the Riverwalk Manor dock
• Lighted garland and red bows on the Riverwalk light poles
• Lighted displays in the hotels, restaurants and bars that line the Riverwalk 

Water Works Park is part of the festivities, too, and it will definitely be worth checking out. In addition to socially distanced fresh-air fun, you can enjoy seeing: 

• The festively decorated architectural tree in the park
• A gingerbread lighted display floating in the river by the park
• Toy train lighted displays floating in the river 
• The Grand Oaks in Water Works Park aglow with thousands of twinkling lights

We’ll start thinking about your 1040s next year, for now all of us at Walter S. Sanders & Associates, your Tampa tax specialists, wish you and yours a happy and healthy holiday.

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