Welcome to Tax Season!

The official start of the tax filing season is quickly approaching!

We are constantly upgrading our processes and seeking ways to better serve you.

In preparation for the 2023 filing season, we have enhanced some of our procedures:

• The deadlines for submission of tax information/documents to CHVL for 2023 returns are as follows:
  • Partnership and S Corporation is February 15, 2024
  • Individual/Personal returns is March 15, 2024

• We encourage you to submit your complete tax information/documentation to us as soon as possible.  Files submitted after these dates will automatically be put on extension if we have a signed engagement letter, and your return will be completed within 4 weeks of receiving all your documentation.

• To be more efficient, we will only begin working on returns once all supporting documentation is received, including but not limited to:
  • W-2, 1099, 1098, K-1 etc.
  • Federal and State estimated payments made for tax year 2023 if not done by CHVL.
  • Itemized expenses– please provide a listing of expenses, you do not need to send individual receipts, stubs etc. You can keep those for your records. Itemized expenses include:

o   Medical, Dental & Vision bills

o   Charitable contributions

o   Non-Cash donations

• Date of donation
• Name and Address of the 501(c)3 Organization that received the donation.
• Brief description of the donation
• Fair market value of the donation

• • For Schedule C filers, please provide business expenses by category such as meals, gas, travel, supplies, postage etc.
  • For those participating in the healthcare marketplace provide a copy of the form 1095A
  • For those filing in a state with a health mandate please provide a copy of your form 1095B

Additional filings may be required it you have had any of the following transactions in 2023:

• if you directly or indirectly hold any interest or signatory authority in any assets in a foreign country.
• if you have received, sold, exchanged, or otherwise acquired any virtual currency.
• if you have made any gifts totaling more than $17,000 in value.

If you had any of these transactions, please let us know so we can review the additional reporting with you.

To help assist you in collecting and reporting information necessary for us to prepare your 2023 income tax return, we have attached a 2023 Tax Return Questionnaire to this email, we will add a personalized organizer to your Smart Vault containing your 2022 tax information by the end of the week.

As always, we are here to answer any questions you may have please contact us at officemanager@chvfirm.com.

 

Thank you for entrusting us with your tax preparation and filing, we truly appreciate your business.

The Cronin, Hanley, Van Zile & Lorenzo Team