Happy New Year! We wish everyone a happy and healthy 2023!
Tax season is now open. We are ready to prepare and electronically file 2022 tax returns. We will be continuing our Covid restrictions for the safety of our clients and staff. Four of us contracted Covid in December and it required the closing of our office for almost 2 weeks. We are required to have tax returns completed and filed by April 18th. We cannot afford the disruption of a Covid infection. For the safety of our clients and staff, we offer the following ways of preparing tax returns for the 2022 tax season:
Many of our clients have been using these methods for years. If you would like to take advantage of our portal, please go to our website at www.wallacetaxes.com and ask for an invitation or call or email us with your request. If you are uploading your documents into Onvio or Smart Vault, please scan all your documents in one PDF file for accuracy. If you are mailing or dropping off your documents, please remove all envelopes, staples, and paperclips.
We can arrange appointments by phone or by using Zoom. Zoom appointments/Invitations will be originated by our office. It is simple to use and very convenient.
For the 2022 tax return:
The due date is April 18th. However be aware, An extension does not extend the payment date for tax that is owed and New Jersey has severe late payment penalties.
Unemployment compensation. Anyone who received unemployment compensation in 2022 must log on to your state portal and print out Form 1099-G. The states are not mailing out paper documents.
Cryptocurrency. The IRS has issued new rules regarding cryptocurrency, Bitcoin being one. Anyone who has sent, sold or exchanged any cryptocurrency needs to tell us, and provide clear details, so that we can compute the gains and losses.
Our 2022 Transmittal, Business, and Rental checklists are available on our website or, you can email Donna for a copy. Transmittals will also be emailed in order to assist in the preparation of your tax return.
Health insurance. Anyone who obtained health insurance through HealthCare.gov must go online and print out their Form 1095-A and send it to us with your tax documents. Information on this form is needed to complete your tax return.
We look forward to working with everyone during the upcoming tax season. Any tax returns that come into our office after March 20, 2023 will automatically have an extension filed in the event that the return cannot be completed by April 18th.
IMPORTANT NOTE: Please open your tax package that we send to you when you get it in the mail. We file federal and state returns electronically, but local income tax returns must be signed and mailed manually by you, so it is very important to open any mail from us.
We would like to congratulate Emily Wallace for passing the prestigious Enrolled Agent exam with the IRS. She is now qualified to represent clients before the IRS.
The Staff at Wallace Associates,
Andy, Roberta, Julie, Donna, Marianne, & Emily
Our billing policy: Our office will continue to bill returns based on the complexity of the return and the expertise needed to provide the best service to you. We base our fees on the complexity of the tax return; the number of forms needed to complete the tax return; the number of source documents used to prepare the tax return; as well as the level of tax knowledge required to prepare the tax return. We continue to offer our professional and personalized service while remaining competitively priced relative to our competition. We accept payments by cash, check, E-check, Visa, MC and Amex.
Disclosure policy: As a rule, tax practitioners are prohibited from disclosing nonpublic personal information about a consumer to non-affiliated third parties. Your privacy is of the utmost importance to us. We do not disclose any information about you whatsoever to any non-affiliated third parties without obtaining your consent first. We also maintain the strictest security guidelines in our office to ensure that all your data is always secure.