Hurricane Harvey & Irma Tax Relief

IRS Offering Tax Relief for Victims of Hurricanes Harvey & Irma

In the wake of the devastation of Hurricane Harvey, and the recent disaster declaration by President Trump, the IRS is offering tax relief to Texas victims affected by the storm:

The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after Aug. 23, 2017 and before Jan. 31, 2018, are granted additional time to file through Jan. 31, 2018. This includes taxpayers who had a valid extension to file their 2016 return that was due to run out on Oct. 16, 2017. It also includes the quarterly estimated income tax payments originally due on Sept. 15, 2017 and Jan. 16, 2018, and the quarterly payroll and excise tax returns normally due on Oct. 31, 2017. In addition, penalties on payroll and excise tax deposits due on or after Aug. 23, 2017, and before Sept. 7, 2017, will be abated as long as the deposits were made by Sept. 7, 2017.

If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer should call the telephone number on the notice to have the IRS abate the penalty.

The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 866-562-5227 to request this tax relief.

As of 9/5/17, the following Texas counties have been approved for extended IRS deadlines:

  • Aransas
  • Bee
  • Brazoria
  • Calhoun
  • Chambers
  • Fort Bend
  • Galveston
  • Goliad
  • Harris
  • Jackson
  • Kleberg
  • Liberty
  • Matagorda
  • Nueces
  • Refugio
  • San Patricio
  • Victoria
  • Wharton
  • Colorado
  • Fayette
  • Hardin
  • Jasper
  • Jefferson
  • Montgomery
  • Newton
  • Orange
  • Sabine
  • San Jacinto
  • Waller
  • Austin
  • Batrop
  • DeWitt
  • Gonzales
  • Karnes
  • Lavaca
  • Lee
  • Polk
  • Tyler
  • Walker

Taxpayers can download forms and publications from the official IRS website,, or order them by calling toll free 800-829-3676.  Contact an R&G Brenner tax professional if you require assistance; (888) APRIL-15.

UPDATE 9-15-17

Likewise, the IRS is offering tax relief for those affected by Hurricane Irma.

The IRS is offering this relief to any area designated by the Federal Emergency Management Agency (FEMA), as qualifying for individual assistance. Parts of Florida, Puerto Rico and the Virgin Islands are currently eligible, but taxpayers in localities added later to the disaster area, including those in other states, will automatically receive the same filing and payment relief. The current list of eligible localities is always available on the disaster relief page on

Partnership Tax Return Due Date Approaching

March 15th Partnership Deadline Nearing

The IRS has implemented a significant change to Partnership tax returns.  In past tax seasons, the due date for Partnerships was the same as the due date for personal returns; usually around April 15th.  However, starting for tax year 2016 (calendar year 2017) the new due date is March 15th.

If you file Partnership tax returns In order to avoid processing delays as well as any late payment penalties and potential interest charges, be sure your return is e-filed or postmarked by 11:59pm on March 15th.

If you have any questions or would like assistance filing your Partnership or other business or personal tax returns, please contact us toll free at (888) APRIL-15 or contact us via the web.

2015 Taxes Due Today! Last Minute Filers Guide

Tick-Tock, The Deadline Approaches
Tick-Tock, The Deadline Approaches

Tax day is here! And all taxpayers who waited to the last minute are having some form of panic attacks.  But don’t worry!  You are not going to jail if you don’t file your taxes on time, so take a deep breath, and here is your definitive guide to last minute tax filing:

The Deadline Is April 18th:  Due to special holidays, 2015 taxes are due April 18th this year.  So if you’ve already  resigned into thinking you missed the deadline you’re in luck!  Get your stuff together and head to an R&G Brenner location near you before it’s too late!

Not Ready?  File An Extension: If you are still scrambling to amass your documentation, expenses & deductions, don’t sweat and file an extension.  An extension will allow you more time to get your stuff together (or more time to procrastinate).  Either way, you’ll save money in unnecessary penalties and late filing fees.  However, be aware that filing for an extension to file your tax return is not an extension to pay your taxes due; you must send a rough estimate of what you think you will owe to the taxing authorities.  If you are unsure, overestimate; you will get an overpayment refund when you file your final tax return.  If you underestimate, you will be subject to interest charges on the amount you underpaid.  Even if you can’t pay your full amount of taxes due, send something even if it’s just $20.  This will prevent penalties and the taxing authorities will offer to put you on a payment plan.

Deadline & Extensions Are Only For Taxpayers who OWE:  This is the most common mistake that taxpayers make.  If you are due a refund, you have 3 years to file your tax return to claim that refund.   No extensions are necessary.  The deadline & extensions are only if you owe taxes and cannot file your final tax return by the deadline.  So if you are getting a refund, next year don’t scramble to file by the deadline.  You can simply wait one day after the deadline and you should be able to get an appointment of your choice and be able to sit with a tax professional pressure-free.  Just remember: If you do not file for a refund before the statute of limitations runs out (3 years), you refund(s) become the property of the US Government and/0r Taxing State.  That’s your money!  Don’t give it away.

Plan For Next Year: It’s hard to change one’s habits.  But technology is making it easier.  Almost everyone has a smart phone.  If you are in a cab, or taking a client to dinner, it is very easy to simply snap a photo of the receipts with your phone.  Same thing for when you get your income statements of K1’s. Keep all those photos in a folder and when it comes time doing your taxes—either by yourself or with a tax professional—you will have all the heavy lifting done already.  This will save you time and stress.

While most R&G Brenner professionals are fully booked in this late hour, many offices are keeping extended hours in anticipation of a rush of last minute filers.  If you can’t get an appointment with an R&G Brenner Tax Professional, just walk in and if you can’t meet with a tax pro on your schedule, just drop off your papers and we file them as soon as possible.  If you have any questions, please feel free to contact us toll free at (888) APRIL-15.  Happy Tax day and rememeber: “Saving you time and money is what we are all about”.

Benjamin K. Brenner

March 15th Corporate Tax Filing Deadline Approaching

March 15th Corporate Deadline Approaches
March 16th Corporate Deadline

The Deadline to file corporate tax returns (forms 1120, 1120A, and 1120S) is Tuesday March 15th, 2016. Most corporate returns are required to be filed electronically therefore they must be sent to the IRS before midnight on the 15th.  If for some reason you are filing a paper corporate tax return, the post mark on the envelope must show 11:59pm or earlier in order to avoid late filing penalties.

If you require more time to file your corporate return, you can request a 6-month extension by filing federal Form 7004 and any corresponding state(s) extensions, however these too must be electronically filed or mailed before the March 16th Deadline.

If you require immediate assistance regarding filing your corporate return(s), contact an R&G Brenner professional before the deadline.

5 Quick Tips for First-Time Tax Filers

Tips For First Time Filers
Tips For First Time Filers

Taxes may be one of the only certain things in life, but that doesn’t mean that filing them is easy. This is especially true if you are a young adult filing your first tax return. If you are single and earned an income greater than $10,000 in 2014, you are required to file a federal return. If it’s your first time filing taxes, you might be a little overwhelmed, but never fear. Here are 5 quick tips to help you file your taxes for the first time.

Create a Folder to Collect Your Tax Documentation

Every employer you worked for in 2014 should have sent you a W-2 wage statement, postmarked no later than January 31, 2015. This includes part-time, full-time, and temporary jobs, no matter how few hours you worked for the company. If you didn’t receive a W-2 by early February, contact your employer to make sure it wasn’t sent to the wrong address. For any work you completed as an independent contractor, you should have received a 1099 miscellaneous income statement. Make a habit of collecting all your pay stubs, earnings statements and other financial paperwork in one folder so that you’ll have everything you need come tax time.

Special Rules for Dependent College Students

Things can get slightly complicated when you earn enough money to file a return while still receiving more than half of your financial support from your parents. If they plan to claim you as a dependent, IRS rules don’t allow you to claim a personal exemption on your own tax return. In most cases, it makes financial sense for your parents to take the tax exemption, since they likely owe more in taxes than you do. However, you or they can speak to a tax accountant if you’re uncertain.

Make it Easier on Yourself; File Electronically With Direct Deposit

The IRS & most states currently require that you file your tax return electronically.  However, many tax filers still elect to receive their refunds by being sent a check as opposed to depositing it directly into their bank account.  Choosing a direct deposit shaves weeks off the time it takes to receive your refund.  In order to file electronically, you will need to use tax software or hire a tax professional.  The benefit of using software/tax professionals is that they find math errors and deductions you may have missed. Common deductions that new taxpayers overlook include charitable donations, job search expenses, and state and local sales tax paid. If you have children yourself or you’re filing as head of household, you qualify for even more tax credits.

Choose the Simplest Form Possible

If you are single, don’t own a home, have no dependents, and earn less than $100,000 a year, filing your return on the 1040EZ form makes your life a whole lot easier. If you choose to use tax software, the program should suggest this after completing its initial interview with you. You’re more likely to find free tax preparation programs when you file using the 1040EZ form.

Get Your Taxes Done on Time

Your federal and state tax forms for 2014 must be postmarked by Wednesday, April 15, 2015 to avoid paying a late penalty. If you have legitimate reasons for not getting your returns in by that date, you may be able to request an extension. It’s also important not to be in such a hurry to get this chore done that you speed through it and make costly mistakes. This is a common mistake for first-time filers, especially those who are expecting a refund.

If it’s your first time filing taxes, take your time, plan ahead, and consider using tax software to make your life easier. Remember: it’s always a good idea to ask a tax professional if you’re not sure about something. Good luck!

March 16th Corporate Tax Deadline Approaching

March 15th Corporate Deadline Approaches
March 16th Corporate Deadline

The Deadline to file corporate tax returns (forms 1120, 1120A, and 1120S) is Monday March 16th, 2015. Most corporate returns are required to be filed electronically therefore they must be sent to the IRS before midnight on the 16th.  If for some reason you are filing a paper corporate tax return, the post mark on the envelope must show 11:59pm or earlier in order to avoid late filing penalties.

If you require more time to file your corporate return, you can request a 6-month extension by filing federal Form 7004 and any corresponding state(s) extensions, however these too must be electronically filed or mailed before the March 16th Deadline.

If you require immediate assistance regarding filing your corporate return(s), contact an R&G Brenner professional before the deadline.

October 15 Tax Extension Deadline

Tick-Tock, The Deadline Approaches
Tick-Tock, The Deadline Approaches

The deadline to submit 2013 tax returns to the IRS for taxpayers who elected to file extensions is Wednesday, October 15th.  Failure to do so may result in the penalties and interest assessed on due taxes.  Please note, that if you did not file your taxes yet, and did not file for an extension, your taxes were due on April 15th and you are already accruing penalties and interest on any taxes due.

If you need assistance filing your tax return (whether on extension or not), please contact an R&G Brenner tax professional as soon as possible in order to meet the deadline.

What Are the Next Steps If I Missed the April 15th Deadline?

Did You Miss The Deadline?
Did You Miss The Deadline?

Tax season is always a stressful time of the year.  Regardless if someone files themselves or hires a professional, nobody relishes the thought of having to file their taxes. Most people manage to get their taxes filed before the deadline, but there are always some who cannot get their taxes filed on time and don’t file an extension. 

The April 15th deadline for filing taxes for the 2013 tax year has passed. This sounds serious, but don’t panic. While you may incur some penalties for failing to file on time, acting quickly can help ensure that they won’t be too severe. If you have extenuating circumstances that prevented you from filing your taxes on time, you may even be able to get your penalties abated. Here’s what you need to know for filing your taxes after the deadline:

Your Refund Will Be Unaffected

If you are getting a refund, don’t worry, it will be perfectly safe. Unclaimed refunds can only be forfeited after three years, but the IRS won’t impose any penalties on your refund if you file late. The worst that can happen is that you will receive a refund later than you would have if you had made the deadline, and the IRS does not pay interest.  There is nothing gained from having the IRS hold onto your refund, so if you are due a refund, file a tax return as soon as possible.

Penalties for Filing and Paying Late

The penalty for filing your taxes after the deadline is five percent of the unpaid tax bill for every month your tax return is late. These fines and penalties will not exceed 25 percent of your total bill, however. The penalty for failing to pay any taxes that you may owe is one-half of one percent of the unpaid balance.

If you owe taxes that you cannot pay, you should still file as soon as possible, and set up a payment plan to pay off what you owe in installments to minimize penalties. You can also pay a partial amount when you file to lower the balance—it’s a good idea to pay as much as you can. The important thing is that you make an effort and do your best to stick to any payment plan that you set up. Keep in mind that you will most likely need to fill out additional paperwork if you owe more than $50,000 and wish to pay in installments. The IRS will want to see financial statements to ensure that your payment plan is realistic.

Filing an Extension

While it is too late now to request an extension, for future reference you can receive a six-month extension of the tax deadline by filling out Form 4868. This will give you more time to file your taxes, but it won’t give you more time to pay any taxes that you may still owe. Still, it can help you avoid any penalties that come from filing late.

Whatever you do, you should never decide not to file or pay your taxes. You might be afraid of the penalties that come from missing the April 15 deadline, but the penalties for not filing at all are much worse. The most important thing is that you file, even if you file much later than the deadline. Your chances of getting into real legal or financial trouble become much greater the longer you wait to pay what you owe to the IRS.

April 15 Countdown & Last Minute Tax Tips

Tick Tock, TickTock...April 15th Deadline
Tick Tock, TickTock…April 15th Deadline

With the clock about to strike midnight on the 2013 Tax Year Filing season, the following is a quick list of tax tips for all you last minute filers out there:

April 15th Deadline

Yes, we all know the saying “Death & Taxes…”. And nothing drums up the cold sweats and association with taxes like the April 15th deadline. However, here is something that many taxpayers do not know: This deadline is only if you OWE taxes to the IRS.  If you are due a refund from the IRS, you actually have 3 full years from the April 15th deadline to claim and receive your refund before it becomes the property of the U.S. Government.  So, as long as you file your 2013 tax return by April 15th, 2017 you will get your refund.  There are of course, many reasons to file your 2013 tax return before the deadline.  It’s your money!  So don’t let the government hold on to it especially when they do not have to pay interest on it.  If you owe, and you do not have all of your tax documents ready, you can always file an extension.  Extensions must also be filed before the April 15th deadline.  REMEMBER: An extension is only an extension to file your final tax return, NOT to pay the taxes you owe.  Therefore, expect to send payment for the estimated amount of taxes you owe along with any extension.

Beware of IRS Scams

IRS & Tax related Scams have been steadily increasing over the last few years.  The most common scam going around is IRS impersonators contacting unsuspecting taxpayers and getting them to divulge their confidential personal information which can be used to open up credit cards in the victims name and/or to a file a fraudulent tax return in their name in order to steal refunds.  NOTE: The IRS will NEVER initiate contact with your via email, phone, fax or text.  They will always send you a written notification with instructions.  Even if you receive written communication, double check that the contact information on the letter matches the IRS contact information from the IRS website.  If you think that you are the target of a tax related scam, report it to

Sign Your Return & Mail To Correct Address

While this may sound trivial, many taxpayers forget to sign their tax returns!  Your tax return is technically not considered filed if it is not signed.  While the majority of tax returns are filed electronically, there are still many reasons why a return would be filed as paper.  Furthermore, if you had your return prepared by a professional, be sure that they signed the return as well.  While the taxpayer is ultimately responsible for what is listed on their return, a common scam that many “professionals” use to avoid any liability is to file a tax return as “self-prepared”.  In other words, the IRS thinks that the taxpayer prepared and filed the tax return themselves when in reality it was filed by a paid income tax preparer.  So be sure to check for all appropriate signatures!  Furthermore, be sure you are mailing your tax return to the right IRS processing center.  The IRS tends to change their mailing addresses annually and some  have separate mailing addresses for refunds and taxes due.  Here is a list of all the IRS tax processing centers.

Keep Your Tax Records

So you just sent in your taxes and now you can throw all of your W2s, 1099s, receipts & other tax related documentation into the fireplace, right?  WRONG! Depending on your situation, the IRS says to keep all of your tax records between 3 & 6 years.  So, just to be on the safe side, keep all of your tax records for at least 6 years.  Sometimes it could take years before the IRS notifies you with an issue and/or adjustment on your tax return.  If you plan on contesting changes in the IRS’ favor, you’ll need your backup documentation.  Recent budget cuts to the IRS will probably delay the notification process even more.

File With A Tax Professional

While millions of taxpayers are electing to forego using a tax professional in favor of filing themselves, the numbers don’t add up.  A couple of years ago R&G Brenner investigated The True Cost Of Preparing Your Own Tax Return and found that taxpayers who filed themselves were losing an average of $594 in refunds as opposed to using a Tax Professional.  Similarly, H&R Block is running ads this year that found 1 in 5 taxpayers who prepares their own taxes are not claiming all the deductions they are entitled to and are losing $490 in refunds.  Now there are many taxpayers who have very simple returns (standard deductions, no house, no kids, etc) and can easily file themselves.  However, the moment your tax return gets even a little bit complicated, you should seek professional help.  If you are going to Itemize Deductions (Schedule A), claim mortgage interest, have children (Earned Income Tax Credit), deduct business expenses (Schedule C), have rental income (Schedule E), or other complex tax positions, it is almost never a good idea to prepare your own tax return.

If you would like information about R&G Brenner, our services or if you need any tax assistance before or after the April 15th deadline, please feel free to contact us here, or call us toll free at (888) APRIL-15.