It’s Tax Season!
Happy New Year!
I hope the New Year finds you all in good health and that you have all had a relaxing Holiday season. There’s been a lot of tax law changes this last year. I’ve tried to answer as many questions ahead of time as possible here and on the website’s FAQ page. I don’t expect you remember or know the details of all the new tax laws, that’s our job, but I want to at least provide you with the information so that you know we’re on top of things and if you have terrible insomnia you can dive deeper into the details.
This letter will guide you through the process to make getting your taxes filed as painless as possible. Be sure to save any and all tax documents received over the next several weeks and any other tax related items that we may need to prepare your tax returns. Please note the drop dead due dates to have your tax documents submitted to us.
Please submit your information as early as possible. A tax organizer can be used to remind you of the information needed and to allow you time to organize. Be sure to note any changes over the prior year to your address, marital status, number of dependents, job changes, etc. You do not have to use the tax organizer if you do not want to. But at a minimum, please answer the first couple pages of tax questions to ensure that we have all the information needed to prepare your tax returns accurately. Our Tax Organizer is a fillable form. You can find it here. Please be sure to download the tax organizer to your desktop/device before completing the pages. Then re-upload the completed tax organizer to your 2025 Tax Support Documents folder in ShareFile.
If you had health insurance from the Marketplace, please be sure to provide your Form 1095-A as it is required and will cause an e-file reject if not included with your return.
If you have an Identity Protection Pin (IP Pin), please be sure to upload this year’s IP PIN letter to the portal. If you are enrolled in the IP program with the IRS, they will issue you a new IP PIN every year so it’s important that you provide us with the correct IP PIN or it will cause an e-file reject on your return. You can retrieve your IP PIN here.
The IRS will begin accepting 2025 e-filed tax returns on Monday, January 26, 2026.
To help your tax preparation go smoothly, please respond to our emails with follow up questions in a timely manner and provide us with 100% of your Tax Support documents to ensure the accurate completion of your tax returns by the deadlines. We complete returns in the order they were received. Once we receive 90% of your Tax Support Documents from you, we will begin your tax return preparation. Please get your information to us as soon as possible to secure your place in the preparation queue. See below for deadlines to provide your information to minimize the need to file an extension. If we are waiting on tax information after these deadlines, your return will be extended. We will do our best to complete any returns by the due date of the return if all information has been provided prior to these deadlines.
If you have a planned vacation close to your tax deadline, it is your responsibility to plan accordingly and provide us with your Tax Support documents as soon as possible to ensure that we have time to prepare your returns before you leave. Remember we prepare returns First In, First Out. That means you’ll likely need to get your documents to us even sooner. We will do our best to accommodate vacation deadlines when we are aware of vacations in advance and you’ve done everything you can to provide us all documents with adequate time to prepare your tax return before your vacation date. Documents received with a request for immediate completion of tax returns due to an impending vacation will be accommodated only with a Rush Fee in addition to the normal tax prep fee.
OUR PRIVACY POLICY, Compliance with the Gramm-Leach-Bliley Act, Public Law 106-102 (FTC16CFR Part 313)
The privacy of our client information has always been important to us, and we have always been bound by professional standards of confidentiality. However, we are now required by law to formally inform you of our privacy policy.
We collect nonpublic personal information about you that is provided by you or obtained by us with your authorization. This information may come from various sources, including information we receive from personal interviews, tax organizers, worksheets and other documents necessary to provide professional services to you.
We do not disclose any nonpublic personal information about our clients or former clients to anyone, except as permitted or required by law, or when necessary to process transactions requested by a client.
We restrict access to nonpublic personal information about you to members of our firm who need to know that information in order to provide you professional services. We retain records relating to the professional services that we provide you in accordance with accounting and government standards.
We employ physical, electronic, and procedural security safeguards to protect your nonpublic personal information.
Your confidence and trust are important to us. If you have any questions or concerns regarding the privacy of your nonpublic personal information, please contact us.
FORM 1099 INFORMATIONAL RETURN DEADLINE
The tax filing deadline for issuing Form 1099s to recipients is February 2, 2026. There is no extension for this form. Businesses are required to issue a Form 1099 to taxpayers and businesses (other than a corporation) who have received at least $600 or more in non-employment income during the tax year. (Note that this rule changes in 2026, and the threshold increases from $600 to $2,000) If you would like us to prepare these forms for you, please ensure that you have complete W-9 information for each taxpayer that will need a Form 1099 and provide that information to us no later than January 26th, 2026. There is a base fee of $100 plus $20 per form. (example: 4 1099s = $180 fee)
BOI REPORT (Beneficial Ownership Information) INFORMATIONAL RETURN
As of March 26, 2025, all beneficial owners are now exempt from the BOI filing requirement. Only existing foreign companies doing business in the states are required to file a BOI Report. You can learn more details here.
FBARs (FOREIGN BANK & FINANCIAL ACCOUNTS REPORT) INFORMATIONAL RETURN
U.S. citizens, residents, corporations, partnerships, LLCs and trusts & estates that have a financial interest in or a signature authority over a foreign financial account must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 USD at any time during the calendar year. FBARs are due April 15th, 2026 and allow for an automatic extension to file the report until October 15th, 2026. If you meet the conditions that require an FBAR to be filed and you would like us to prepare and file the return for you please include this information along with your Tax Support documentation uploaded to your ShareFile folders.
BUSINESS TAX RETURN DEADLINE
The tax filing deadline this year for Partnership (Form 1065) and S-Corp (Form 1120-S) returns, without extension, is Monday, March 16, 2026 because the 15th falls on a Sunday the deadline is pushed to the next business day. C-Corp (Form 1120) returns are due April 15th, 2025 without extension. We recommend that you compile your information and once all documents have been received, submit them to us as soon as possible. We process returns on a “first-come, first-served” basis. In order to have your return completed before March 16th, please submit your tax information to us no later than February 23rd, 2026. If your information is received after February 23rd, your return may be extended and filed after March 16th. Rushed returns can be arranged for an additional fee.
PERSONAL TAX RETURN DEADLINE
The tax filing deadline this year for personal tax returns (Form 1040), gift tax returns (Form 709) and Trusts (Form 1041), without extension, is April 15th, 2026. We recommend that you compile your information and once all documents have been received, submit them to us as soon as possible. We process returns on a “first-come, first-served” basis. In order to have your return completed before April 15th, please submit your tax information to us no later than March 25th, 2026. If your information is received after March 25th, your return may be extended and filed after April 15th. Rushed returns can be arranged for an additional fee. Remember that an extension of your tax return is not an extension to pay the tax due. It is merely an extension to file your tax return. Any tax due is still due by April 15th.
NON-PROFIT TAX RETURN DEADLINE
The tax filing deadline this year for non-profit returns (Form 990), without extension, is May 15th, 2026. We recommend that you compile your information and once all documents have been received, submit it to us as soon as possible. We process returns on a “first-come, first-served” basis. In order to have your return completed before May 15th, please submit your tax information to us no later than May 1st, 2026. If your information is received after May 1st, your return may be extended and filed after May 15th. Rushed returns can be arranged for an additional fee.
2025 TAX SEASON APPOINTMENTS
If you do not need to meet with me, you may submit your documents directly to our office without an appointment via the client portal (ShareFile). If you do not have access to the client portal or need to be reminded of your login, please let our team know and we’ll get you the link to upload your tax support documents for preparation. Information may also be mailed to our office or emailed. If you choose to email your information, please take steps to ensure cybersecurity (i.e., password protecting documents, etc.). I will always follow up with you regarding any questions during the preparations of your tax returns and make sure that you have time to review your completed returns and ask any questions you may have before filing. Most clients find it more beneficial to meet after the returns are completed, if they want to meet at all.
This schedule is effective from January 12th, 2026 and continues through April 15th, 2026.
I find that most tax questions can be answered over email and many clients appreciate being able to refer back to written answers especially when it pertains to confusing tax law. However, there are times that phone calls and zoom meetings are necessary if you have new or unusual circumstances that you would prefer to discuss over the phone or via zoom, please email me at Tonya@tmtcfo.com to set up a 15 minute tax appointment for a zoom meeting or phone call.
Tuesdays 1pm to 6pm (Pacific Standard Time)
Saturdays 9am to 1pm (Pacific Standard Time)
If these times do not work for you, please email me and we can make arrangements to find a time in my schedule that will work for you.
Tax appointments that exceed 15 minutes will need to be rescheduled into a consulting meeting at my hourly rate.
The last day I will be taking appointments prior to the April 15th deadline is Saturday, March 28th, 2026. Note that there are a limited number of appointments during this time frame, so please schedule early.
FEES
Our firm is committed to providing the highest quality service.
Our fees for tax preparation are based on the complexity of the return and the time it takes to prepare and file it. I prefer to give you a flat fee prior to the preparation of the returns so there are no surprises when the work is completed. To do this, I will need to see the prior tax return that was filed and any details about major changes in the current tax year. If you are agreeable to the fee, I will have you sign our engagement letter, give you access to the client portal, ShareFile, and we will get started on the work. If there are no major changes to your returns, your fee quote is the same as last year with a small increase for inflation. If you had major changes compared to last year and would like an adjusted fee quote before submitting your documents, please let me know.
As of January 1, 2025, Tonya’s hourly rate is $250 for consulting and tax planning. Nicole’s hourly rate is $125 for accounting, bookkeeping and QBO training.
Consulting, tax planning, advisory services, accounting, responding to IRS and state notices, etc, any requests beyond the actual preparation of your tax return is billed at our hourly rates.
We accept cash, checks, and electronic payments via Zelle, ApplePay and Venmo. You can find me on Venmo by searching @TonyaTompkins. Or on Zelle by using my phone number 971-373-3391 or email Tonya@tmtcfo.com
CLIENT PORTAL: SHAREFILE
All tax support documents and returns will be available through our secure client portal. This portal will allow you to log in to gain access to your tax returns and other confidential documents at any time. Information regarding how to access our secure client portal will be provided when you request an initial fee quote for tax preparation. We are happy to mail copies of tax returns by paper if requested. For existing clients, if you can’t access your Sharefile and use a saved link, try refreshing your link or using the Sharefile link on the website as Sharefile does update frequently to maintain the highest level of security.
We highly value our client relationships. Your recommendation to an associate, friend or family member is more significant than any advertisement. We sincerely appreciate your patronage and as always, we strive to provide you with professional and efficient service.
If you have any questions regarding this letter or our services, please do not hesitate to contact me.
Take care,
Tonya Tompkins