We at McCarthy Accounting and Taxes hope your holiday season has been joyous, warm, and a time for reflection. We wanted to take a moment to thank you for your support throughout this year. Our team of Tresa, Fred, Lois, Dave and Courtney are here for all your tax needs and questions.
We have made it through 2019 and are hitting the ground running into 2020. As we look forward to the coming tax season, we wanted to offer a checklist guideline of documents you’ll need to set aside in order for us to complete your taxes. We will again offer an organizer to anyone who desires one.
• 1099 (Int / Div / Misc)
• 1099B (documents from Stockbrokers)
• 099 SSA (Social Security)
• 1095 (A / B / C – Health Insurance) If Given by companies.
• Record of Estimated Tax Payments
The standard deductions for 2019 has gone up to 12,200 for Single and 24,400 for MFJ
If your itemized deductions last year were more than these amounts you may collect/send the
• Real Estate Tax amount
• Medical/Dental Expenses
• Medical Insurance
• Charitable Contribution (Monetary or Material)
• 1098 (Mortgage Interest)
If you are claiming children (Dependents), you will need to provide the following of the Dependent’s
• Birth date
• Social Security Number
If your Dependent is in college, you will also need to provide a copy of their 1098T and a 1099Q (if they
are on a Prepaid Plan).
Please inform us if your filing status or any exemptions have changed. In addition, if you have had any other financial transactions (ie: sale of house or stocks) that occurred during the year.
Once you have collected all the necessary paperwork, feel free to drop it by for us to begin a review and complete your return.
If you have had significant changes, or would like to make an appointment, please call and we will be happy to schedule a meeting for you with your tax preparer.
We hope everyone has had a healthy and happy year, and look forward to speaking with you soon.
With warm regards, McCarthy Accounting and Taxes
Due Dates for Tax Year 2019
• The last Estimated Tax Payment to be made for the tax year of 2019 is due on Jan 15, 2020
• IRS will start excepting tax returns around January 28th, exact date not available yet.
• Forms W-2 and 1099-MISC (with box 7) are due on Jan. 31st;
• Earned Income Credit & Advanced Child Tax Credit: no refund issued before February 15th.
• Returns and payments are due on Monday, April 15th, 2020
The Affordable Care Act Penalty
✓ In 2019 the penalty for not having health insurance was eliminated.