LOOKING FOR YOUR REFUND?
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I called the IRS to check on the status of refunds for a few clients. They had received a message on track your refund stating it was taking longer to process. She encouraged me to extend some information to our clients. When submitting your tax return, remember you are placed in line for refunds of those before you, so it may take at least 21 days. When claiming Earned Income Credit (EIC) or Child Tax Credit (CTC), it will take longer to process. If you have not received a refund after 21 days, then you should contact the IRS.
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ESTIMATED PAYMENTS
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You must make estimated tax payments to avoid a penalty if you owe taxes. This is based on the year prior. You can use a calculator to determine what amount is needed to avoid owing additional amounts.
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CLAIMING CHILDREN OVER AGE 18
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Please remember there are certain criteria for claiming a child that is over the age of 18. Several things come into play, including whether or not they are a full-time student. Please ask before the end of the year, if you have questions or need to have any tax planning, since it can affect refund/taxes owed.
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FILING DEADLINES FOR DISASTER AREAS
The IRS has given areas that have been affected by Hurricane Debby an extension of filing the return. The new date is February 3, 2025. You will not be charged a late filing penalty for these areas. You will still incur penalties and interest for any amount of taxes owed and not paid, since the original filing date was before the hurricane. These are the following areas:
South Carolina - All 46 counties
Florida counties - Alachua, Baker, Bay, Bradford, Brevard, Calhoun, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Escambia, Flagler, Franklin, Gadsden, Gilchrist, Glades, Gulf, Hamilton, Hardee, Hendry, Hernando, Highlands, Hillsborough, Homes, Jackson, Jefferson Lafayette, Lake, Lee, Leon, Levy Liberty, Madison, Manatee, Marion, Monroe, Nassau, Okaloosa, Okeechobee, Orange, Osceola, Pasco, Pinellas, Polk, Putnam, Santa Rosa, Sarasota, Seminole, St. Johns, Sumter, Suwanee, Taylor, Union, Volusia, Walton, Wakulla and Washington
Georgia counties - Appling, Atkinson, Bacon, Ben Hill, Berrien, Brantley, Brooks, Bryan, Bulloch, Burke, Camden, Candler, Charlton, Chatham, Clinch, Coffee, Colquitt, Cook, Crisp, Decatur, Dodge, Echols, Effingham, Emanuel, Evans, Glynn, Grady, Irwin, Jeff Davis, Jefferson, Jenkins, Johnson, Lanier, Laurens, Liberty, Long, Lowndes, McIntosh, Mitchell, Montgomery, Pierce, Richmond, Screven, Tattnall, Telfair, Thomas, Tift, Toombs, Turner, Ware, Wayne, Wheeler, Wilcox and Worth
North Carolina counties - Alamance, Anson, Beaufort, Bertie, Bladen, Brunswick, Camden, Carteret, Caswell, Chatham, Chowan, Columbus, Craven, Cumberland, Currituck, Dare, Davie, Davidson, Duplin, Durham, Edgecombe, Forsyth, Franklin, Gates, Granville, Greene, Guilford, Halifax, Harnett, Hertford, Hoke, Hyde, Johnston, Jones, Lee, Lenoir, Martin, Montgomery, Moore, Nash, New Hanover, Northampton, Onslow, Orange, Pamlico, Pasquotank, Pender, Perquimans, Person, Pitt, Randolph, Richmond, Robeson, Rockingham, Sampson, Scotland, Stokes, Surry, Tyrrell, Vance, Wake, Warren, Washington, Wayne, Wilson and Yadkin
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