EDWARD TORRES, CPA PC
ACCOUNTING & TAX SERVICES
70-50 AUSTIN STREET, UPPER SUITE 101, FOREST HILLS, NY 11375
Telephone (718) 261-9600 FAX (718) 261-3357 Website: www.ETCPA.com E-Mail: [email protected]
We hope your New Years is off to a great start! The 2023 tax filing season is fast approaching and we’re preparing to make it easy for you to file your income tax returns. You will start receiving your income tax documents in the coming weeks. Be sure to save all your tax documents to ensure timely filing as it will be great to begin preparation early in the year. Hopefully this letter will be informative and help you prepare for the coming tax filing season. Please submit your information to us as soon as you receive all of your documents. Please notify us of any major changes such as: new address, changes in marital status or dependents, new bank accounts or employment changes.
BUSINESS TAX RETURN FILING
For S-Corporations (Form 1120-S) and Partnerships (Form 1065), the filing deadline is March 15, 2024 however for C-Corporations (Form 1120) the filing deadline is April 15th, 2024. If we do not already have all your bank statements and related documentation, we advise you to collect all documents needed and submit them to us using our client portal Tax Dome. We process all accounting and income tax filings on a “first-come, first-served” basis. We need all your documentation and any questions we have answered ASAP in order for us to complete your filing by the respective deadlines. If we receive your information & answers late, we may have to put your business on extension. If you need a rush return, we can arrange to have that processed but it will include additional fees.
- All businesses will be receiving new engagement letters in January 2024. If you already signed an engagement letter for 2024 you will not need to sign another one.
- The C-Corp and Schedule C deadlines share the same date as the personal tax income return deadline (4/15/24).
- The deadline to issue 1099 forms is January 31, 2024. If you need us to prepare 1099 forms, please ensure that you have all W-9 information completed for each person receiving a 1099 form. We need this information no later than January 24th, 2024.
PERSONAL TAX RETURNS
The deadline for filing personal returns (Form 1040) and C-Corps (Form 1120) is April 15th, 2024. As soon as you collect all of your tax documents, please upload them to us using our client portal TaxDome. Tax documents can be dropped off in person or mailed to us as well. We process personal tax returns on a “first-come, first-served” basis. We need your documentation and any questions answered by March 18th, 2024 in order for us to complete your Personal Income Tax return by the April 15th deadline. If we receive your information and/or answers after March 18th, we may have to put your Individual (1040) tax return on extension. If you need a rush return, we can arrange to have that processed but it will include additional fees.
SENDING IN DOCUMENTS DOES NOT REQUIRE AN APPOINTMENT
If you do not need to meet with someone on staff, you can upload all of your documents through Tax Dome. If you forgot your password or never activated your account before, please contact us and someone from our team will assist you. You can also mail or email us your documents. Please note that if you wish to email us, be sure to password-protect your files or use our Share File. You can notify us of the passwords once we receive the emails.
Once we receive your tax documents, we will put together an engagement letter and send you a retainer invoice.
Once the engagement letter is signed and the retainer is paid, we can begin to work on your taxes.
IF YOU REQUIRE AN APPOINTMENT
As of 1/17/2024, the appointment schedule will change to allow us time to spend on tax preparation for businesses & individuals.
Edwards Torres’s availability:
Tuesdays and Thursdays – 10:30am to 2:30pm
Saturday – 11:00am to 1:00 pm
Jeremy Castro & Danny Li’s availability:
Monday, Wednesday and Friday – 11:00am to 3:00pm
- If you need a different schedule, please email us & we will make arrangements to find a convenient time.
- This schedule will last from January 17st, 2024 until March 29th, 2024.
- Our appointment window will be limited from March 30th until April 7th.
- NO APPOINTMENTS WILL BE TAKEN FROM APRIL 8TH TO APRIL 15TH.
Our firm is committed to providing the highest quality services. It is estimated that 75% of CPAs will be leaving the profession over the next few years due to baby boomers retiring and to burn out in the profession. Inflation has increased more than 7% the last two years and costs of maintaining a business continues to increase.
Our fees for tax preparation are based on the complexity of the return and the time it takes to prepare and file it.
We prefer to provide a flat fee prior to the preparation of your return so there are no surprises when the work is finished. We need to review prior filed tax returns and any changes in the current tax year. Once we agree to a fee, you will need to sign our engagement letter, pay a 50% non-refundable retainer, and we will begin work.
We accept cash, checks, and electronic payments via Zelle ([email protected]) and Venmo (@etcpa) or the invoice link we will send you when we have a signed engagement letter.
This is our secure client portal. You can access it by going to etcpa.taxdome.com. This portal will allow you to gain access to all of your tax returns that we have prepared or you provided, including your prior year tax returns. This can be accessed at any time, as long as you are our client. All engagement letters, organizers, invoices etc. can be accessed through TaxDome. You will be able to upload your documents securely and alert us when you’re done uploading. We value our client relationships and greatly appreciate your recommendations to family, friends or associates.
GOOGLE REVIEW GIVEAWAY
We’re excited to announce our Google Review Giveaway! As a token of appreciation for our valued clients, we’re offering a fantastic opportunity to win exclusive Yankees tickets in the Jim Beam Suite at Yankee Stadium. To enter, simply leave us a Google review before April 15th. As long as you are a current client who has left us a review or leaves one by April 15th, you’ll automatically be entered into the drawing. Your feedback means the world to us, and this is our way of expressing gratitude. Don’t miss out on the chance to enjoy a memorable Yankees experience – leave your review today!
NEW TAX RESOLUTION SOFTWARE – PITBULL
Introducing our cutting-edge tax resolution software, Pitbull! This powerful tool empowers us to streamline the process of retrieving crucial tax transcripts and information from the IRS. With Pitbull, we gain unparalleled insights into any outstanding tax liabilities, allowing us to proactively address and resolve tax issues for our clients. To harness the full potential of Pitbull, we kindly request clients to provide a signed Power of Attorney if not already on file, along with a signed Form 7216, IRS Disclosure and Consent form. These essential documents ensure a seamless and secure exchange of information, enabling us to deliver tailored solutions to reduce or resolve tax challenges efficiently. Pitbull marks a significant advancement in our commitment to providing top-notch tax resolution services, and we’re eager to leverage its capabilities for the benefit of all our clients.
We sincerely appreciate your patronage and we will always strive to provide you with professional and efficient services. If you have any questions regarding this letter or our services, please do not hesitate to contact us. Wishing you the best new year possible.
Very truly yours,
Edward Torres, CPA & Staff