Staying informed about tax laws, deductions, and filing requirements is essential for making smart financial decisions. At Gordon Keeter Nichols, we provide a collection of valuable tax resources to help individuals and businesses navigate the ever-changing tax landscape. Whether you’re looking for key deadlines, tax-saving strategies, or compliance guidelines, our insights ensure you have the information you need to stay ahead.
Resources
- Record Retention Schedule
- Gordon Keeter Nichols Blog
- Vital Information Collection Checklist
- This checklist will help you/or your parents start organizing information that should be collected and kept in a safe and convenient place. On completing the items in this checklist, copies of the checklist should be given to the people who will be involved in settling the estate (that is, the executor, financial planner, and attorney).
- Charitable Contributions Documentation Guide
- This table (along with the following notes and definitions) describes the types of documentation required to substantiate various types of charitable contributions made by individual taxpayers. Failing to maintain the proper documentation generally results in the donation being nondeductible. It is the responsibility of the taxpayer to make sure they have the proper documentation. This table should only be used as a guide. You should consult your tax preparer regarding the documentation requirements in your specific situation.
- Individual Planning Information
- Filing your own taxes might seem doable, but even the simplest forms can come with hidden complexities. That’s where we come in. At Gordon Keeter Nichols, our experienced team takes the stress out of tax season by handling the details for you.
- Business Planning Information
- Tangible Property Regulations
- Exceptions to the Early Withdrawal Penalty
Quick Links
If you would like to know when you will be receiving your tax refund from federal and state, this is the place to check.
What Is IRS “My Account”?
IRS “My Account” is a free online service provided by the Internal Revenue Service that allows individual taxpayers to access and manage their federal tax information in one place. Once you create an account, you can securely log in anytime to view your tax records, make payments, and track your financial interactions with the IRS.
How to Create an Account
Setting up your IRS account is straightforward:
- Visit the IRS Online Account page
- Click “Sign in to your Online Account” and select “Create an Account.”
- Complete the identity verification process using ID.me, which includes uploading a photo ID and taking a video selfie. You can also opt for a live video call with an agent.
Who Should Use It?
Whether you’re a taxpayer managing your own finances or a business owner coordinating with a CPA, having an IRS account is a smart move. It’s especially useful for:
- Tracking refunds and payments
- Managing estimated tax payments
- Responding to IRS notices
- Verifying income for loans or financial aid
Key Benefits of Having an IRS Account
Instant Access to Tax Records
View your adjusted gross income (AGI), tax transcripts, and Economic Impact Payment history. This is especially helpful when preparing your return or applying for loans that require income verification.
Track and Make Payments
You can:
- Make payments directly from your bank account or by debit/credit card.
- View up to five years of payment history.
- Schedule, modify, or cancel future payments.
Set Up and Manage Payment Plans
If you owe taxes, you can apply for a payment plan online and manage it through your account. You’ll be able to see your balance by tax year and adjust your plan as needed.
Go Paperless and Stay Informed
Opt in to receive email notifications for new notices or account activity. You can also view digital copies of IRS notices and audit status updates.
Authorize Tax Professionals
Easily approve and electronically sign Power of Attorney or Tax Information Authorization forms submitted by your tax preparer.
Save Time and Reduce Stress
During tax season, IRS phone lines are overwhelmed. With an online account, you can get the information you need—on your schedule—without waiting on hold.