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Remember to schedule your FREE meeting with us to see how we can save you time and money! (520) 241-0371 info@eclconsulting.com |
| Pay via Pay Pal |
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ECL Consulting now offers our clients the option of paying their invoices via Pay Pal. Look for a link on your invoice to take you directly to Pay Pal. Save time and money by paying online, securely and easily.
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| ECL Staff Contact Info |
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Each of ECL's staff members can be reached directly. You can also call 520-241-0371 to leave a message for any staff member.
Our new central fax number is
1-520-843-2092.
Please make sure you dial the "1" and the area code, no matter where you're dialing from.
Eli Larriva:
520-241-0371
Carol Rundle:
520-721-6868
Susie Guthrie:
520-638-6738
Kris Dorris:
443-206-3613
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| April Tax Deadlines |
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April 15
Individuals - File an income tax return for 2008 (Form 1040, 1040A, or 1040EZ) and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return, or you can get an extension by phone if you pay part or all of your estimate of income tax due with a credit card. Then file Form 1040, 1040A, or 1040EZ by October 15.
Individuals - If you are not paying your 2009 income tax through withholding (or will not pay in enough tax during the year that way), pay the first installment of your 2009 estimated tax. Use Form 1040-ES.
Partnerships - File a 2008 calendar year return ( Form 1065). Provide each partner with a copy of Schedule K-1 (Form 1065), Partner's Share of Income, Credits, Deductions, etc., or a substitute Schedule K-1. If you want an automatic 6-month extension of time to file the return and provide Schedule K-1 or a substitute Schedule K-1, file Form 7004. Then file Form 1065 by October 15.
Corporations - Deposit the first installment of estimated income tax for 2009. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.
Employers - Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in March.
Employers - Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in March. | |
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Greetings!
ECL Consulting can help make filing your taxes easier! We offer services to help you organize your paper and electronic records so gathering the information you need to file your taxes is simpler and less time-consuming. Get a jump on 2009 and Contact us today for more information. |
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Need More Time to File? |
If you can't meet the April filing deadline to file your tax return, you can get an automatic six month extension of time to file from the IRS.
Here is what you need to know about filing an extension:
1. An extension will give you extra time to get your paperwork to the IRS, but it does not extend the time you have to pay any tax due. You will owe interest on any amount not paid by the April deadline, plus a late payment penalty if you have not paid at least 90 percent of your total tax by that date.
2. If your return is completed but you are unable to pay the full amount of tax due, do not request an extension. File your return on time and pay as much as you can. The IRS will send you a bill or notice for the balance due. To apply online for a payment agreement, go to IRS.gov and use the pull-down menu under "I need to ..." and select "Set Up a Payment Plan." If you are unable to make payments, call the IRS at 800-829-1040 to discuss your payment options.
3. Request an extension to file by submitting Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, with the IRS by the April 15, 2009, or make an extension-related electronic credit card payment. For more information about extension-related credit card payments, see Form 4868.
4. You can e-file an extension request using tax preparation software on your own computer or by going to a tax preparer that has the software. The IRS will acknowledge receipt of the extension request if you file by computer.
5. You can use Free File Fillable Forms to file for an extension. You can access Free File Fillable Forms via the IRS Web site at IRS.gov.
6. If you ask for an extension via computer, you can also choose to pay any expected balance due by authorizing an electronic funds withdrawal from a checking or savings account. You will need the appropriate bank routing and account numbers and must also have available the adjusted gross income from your 2008 federal income tax return to verify your identity. For information on these and other methods of payment, visit IRS.gov or call 800-TAX-1040 (800-829-1040). For individuals and especially small businesses, ECL Consulting, LLC recommends finding a qualified tax preparer who truly cares about providing the best service, is knowledgeable and will locate all available deductions to reduce your tax and increase your refund. We are happy to recommend qualified and dedicated income tax preparers we work with. Please contact us to locate the best professional for your needs. |
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Save on QuickBooks |
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ECL Consulting, LLC has partnered with A+ QBooks Consulting & Services, LLC to bring you substantial savings on QuickBooks.
- QuickBooks Enterprise Solutions - 25% discount through 4/30/09.
Call (800) 609-0788 or email for details or to order. |
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Ask An Expert |
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Q: I don't have the cash to pay my tax bill. What can I do?
A: If you cannot pay the full amount of taxes you owe by the April deadline, you should still file your return by the deadline and pay as much as you can to avoid penalties and interest. There are also alternative payment options to consider:
- Additional Time to Pay. Based on your circumstances, you may be granted a short additional time to pay your tax in full. The IRS is sometimes able to allow a brief additional amount of time to pay in order to facilitate tax debt repayment. A brief additional amount of time to pay can be requested through the Online Payment Agreement application at IRS.gov or by calling 800-829-1040. Taxpayers who request and are granted an additional 30 to 120 days to pay the tax in full generally will pay less in penalties and interest than if the debt were repaid through an installment agreement over a greater period of time.
- Installment Agreement. You can apply for an IRS installment agreement using the Web-based OPA application on IRS.gov. This Web-based application allows taxpayers who owe $25,000 or less in combined tax, penalties and interest to self-qualify, apply for and receive immediate notification of approval. You can also request an installment agreement before your current tax liabilities are actually assessed by using OPA. The OPA option provides you with a simple and convenient way to establish an installment agreement and eliminates the need for personal interaction with IRS and reduces paper processing.
- Pay by Credit Card or Debit Card. You can charge your taxes on your American Express, MasterCard, Visa or Discover credit cards. Additionally, you can pay by using your debit card. However, the debit card must be a Visa Consumer Debit Card, or a NYCE, Pulse or Star Debit Card. To pay by credit card or debit card, contact one of the service providers at its telephone number or Web site listed below and follow the instructions. There is no IRS fee for credit or debit card payments, but the processing companies charge a convenience fee or flat fee. If you are paying by credit card, the service providers charge a convenience fee based on the amount you are paying. If you are paying by debit card the service providers charge a flat fee of $3.95, do not add the convenience fee or flat fee to your tax payment.
- Link2Gov Corporation: To pay by debit or credit card: 888-PAY-1040 (888-729-1040), www.pay1040.com.
- Official Payments Corporation:
For more information about filing and paying your taxes, visit the IRS Web site at IRS.gov and choose "1040 Central" or refer to the Form 1040 Instructions or IRS Publication 17, Your Federal Income Tax. You can download forms and publications at IRS.gov or request a free copy by calling toll free 800-TAX-FORM (800-829-3676).
Ever have an accounting, tax, QuickBooks or cash flow management question and didn't know who to ask? Now you can Ask An Expert! Email us your questions and we will print the question and the answer in our newsletter! No question is too big or too small. | |
Have you enjoyed this newsletter? Have any suggestions for things you'd like to see covered? Have a question for our resident Accounting Expert? Let us know by emailing askexpert@eclconsulting.com.
Each issue will cover different topics and have different features, so watch for us each Tuesday.
Remember, we provide accounting and cash flow solutions for successful companies -- yours!
Eli Larriva
ECL Consulting, LLC
(520)241-0371
info@eclconsulting.com
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