Mistakes Jefferson County Taxpayers Should Avoid When Filing For a Federal Tax Extension
Key Takeaways A federal extension provides six extra months to file, but all taxes owed must still be paid by the April 15th deadline to avoid penalties and interest. For 2026, the IRS assesses a 0.5% monthly failure-to-pay penalty plus 7% annual interest (compounded daily) on any balance remaining after April 15. To prevent underpayment […]
Is the Self-Employment Tax Credit Real? And Other Tax Scams Jefferson County Taxpayers Should Watch For
Key Takeaways Today’s tax scams look professional, sound convincing, and are built to get your Social Security number, filing credentials, or signature on a bad return. A big refund promise is one of the clearest warning signs of a scam. You are responsible for what goes on your tax return, even if someone else prepared […]
Will the IRS Ever Call You On the Phone? 6 Tax Scams for Jefferson County Taxpayers to Avoid
Key Takeaways The IRS does not initiate first contact by phone, text, email, or social media. Initial contact is generally made by mail. A message demanding immediate payment, threatening arrest, or asking for gift cards, crypto, or banking information is a scam. Bad tax advice on social media can cost you real money through denied […]
Gates Tax Service’s Top 4 Reasons For Filing a Tax Extension
Key Takeaways A federal tax extension gives you until October 15 to file your individual return, but it does not extend the time to pay tax due. Filing an extension makes sense when your return would otherwise be incomplete or inaccurate. You should consider filing a tax extension if you’re dealing with missing documents, […]
How Do Taxes for Freelancers and Jefferson County Gig Workers Work?
Key Takeaways If you had freelance or side gig income in 2025, you report it on Schedule C. If your net profit is $400 or more, you also file Schedule SE for self-employment tax. Even if you never receive a 1099, your freelance or side gig income is still taxable. A practical starting point […]
How Long Should My Tax Refund Take? What Jefferson County Taxpayers Can Expect
Key Takeaways Most federal tax refunds are issued within 10–21 days after the IRS accepts your e-filed return. E-filing with direct deposit is the fastest method, usually delivering refunds within about three weeks. Returns claiming credits like the Earned Income Tax Credit (EITC) or Child Tax Credit (CTC) may take about a month longer due […]
Jefferson County Taxpayers Filing in 2026: When Should You Hire An Accountant For Taxes?
Key Takeaways If your return is truly simple (one W-2, standard deduction, no investments or side income), tax software may be sufficient. If you have self-employment income, rentals, investments, multi-state issues, or major life changes, filing with a professional is worth it. Software handles compliance. A professional provides strategy, error prevention, and representation if the […]
Are IRA Contributions Deductible for Jefferson County Savers?
Key Takeaways Traditional IRA contributions may be deductible, depending on your income, filing status, and whether you or your spouse are covered by a workplace retirement plan Roth IRA contributions are not deductible, but qualified withdrawals in retirement are tax-free You have until April 15, 2026, to make IRA contributions for the 2025 tax […]
How Much Do I Have To Make To File Taxes With My Jefferson County Tax Preparer?
Key Takeaways For the 2025 tax year, a single taxpayer under age 65 generally does not need to file if total income is below $15,750 (assuming no special circumstances apply) Certain types of income, like self-employment income or taxable Social Security, can trigger a filing requirement even at lower income levels Dependents and minors […]
Gates Tax Service welcomes community to new location on Washington Street
CHARLES TOWN – A Martinsburg-based tax preparation business has expanded into Jefferson County, opening a new office on Washington Street as it marks more than a decade of serving clients in the Eastern Panhandle. Gates Tax Service, which has operated an office on King Street in Martinsburg since 2014, officially opened its Charles Town […]