It could be that I’m still a bit out of sorts after Super Bowl Weekend’s milieu of an historic game, Lady Gaga performance and sexy Mr. Clean, but my thoughts seem to be all over the place this week. So possibly because of that, welcome to a quick hits article, where I’ll highlight a few things that have come up in the tax world over the last week or so.

Amended Returns

This topic is something I find many people know about, but few ever take advantage of. Let me take this chance then to make you aware that many tax preparers are always willing to take a look at your past returns and see if we can turn it to your advantage (hint, hint). What better way could there be to prove our worth, right?

To that point, I found it odd that this article from the Journal of Accountancy begins by saying that many amended returns come about because of human error. Although I cannot deny this, I do not like how the wording seems to imply there may be some future mechanized way to make sure that everything turns out alright. After all, not a tax season passes when I don’t see people who have not been taking advantage of all the options legally open to them because a software program did not know the right questions to ask.

If you think you may be in that position, and a human touch could benefit you, well, you know where to turn.

Accountants are Cool

Well not cool like Born in the USA-era Springsteen cool, but pretty sweet nevertheless.  Or at least that is the conclusion that I am taking from another recent article.

It is a short piece, but mentions a few things business owners may want to think about (finding new revenue opportunities, future-proofing the business, and gaining an extra lookout) that are services their accountant could provide that they are not taking advantage of.

Not utilizing that potential is very much in line with those who don’t file amended returns in that they are both caused by inaction. It is not that one never thinks about the benefits and potential of these acts, it just never gets pushed forward enough in the mind (or you tell yourself it’s not the right time) to reach completion.

Then consider this a push, if there are some financial services you wished you had and are not receiving, you know where to turn.

Refund Repartee

One thing that people do always want to talk to a tax preparer about, though, is when they will get their refund. I certainly can’t fault people for this, I mean we can finish a tax prep meeting with me saying you’re going to be a receiving (a possibly unexpected) couple thousand dollars. If someone were to say that to me, I’d also be quite curious about the timeframe.

Essentially, though, the answer is that it arrives when it arrives. There are some rules that will cover when the money arrives, but it’s pretty set and standard and there isn’t anything you can do to speed it up.

Still, I suppose I shouldn’t have been surprised that an entire article was put together on the top tax refund myths.  So yes, unfortunately this is an area where we can’t help things move along faster for you, but if you need help anywhere else, please feel free to contact us!