Our Financial Newsletter

 

Additional REsources

A Few Other Resources We’ve Created for Our Customers

Taxpayer Accounts

  • Create or log in to your IRS account HERE
  • Create or log in to your Oregon account HERE

Filing An Extension

Filing an extension give you additional time to file, not additional time to pay. Please follow the links to pay your extension balance(s) due.

  • File a Federal extension with the IRS HERE
  • File a state extension with Oregon HERE
  • Make a Payment for Federal Extention with IRS HERE

Paying Your Taxes

  • Pay the IRS HERE
  • Pay Oregon HERE
  • Pay the City of Portland HERE (Account Required)
  • Pay Trimet HERE (Account Required)

Check Refund Status

  • Check IRS refund status HERE
  • Check Oregon refund status HERE

Other Helpful Information

  • Find the IRS’ Taxpayer Bill of Rights HERE
  • Use the IRS’ Interactive Tax Assistant for help with Federal tax questions HERE
  • Use the IRS’ Paycheck Check tool for help Federal with withholding estimates HERE
  • Use Oregon’s Withholding Calculator for help with Oregon withholding estimates HERE
  • Helpful information for newly married couples HERE

Other Helpful Information Cont.

  • Information about closing a business HERE
  • View the IRS YouTube channel for helpful videos and information HERE
  • Useful information for “gig economy” workers (Uber, Lyft, DoorDash, etc.) HERE
  • Multilingual IRS information can be found HERE
  • IRS tax fraud and scam alerts are listed HERE
  • I got mail from the IRS, now what? Find more information HERE

Other Tax Information

  • Plug-In Electric Vehicle Credi t– Credit rules for the purchase of an electric vehicle have changed for 2023 and will again for 2024. For 2023, used vehicles purchased from a dealer qualify for the credit. For 2024 you may be able to apply the credit at the time of purchase with the dealer directly, but restrictions apply. The VIN number and documents provided from the dealer are required to file your taxes. More information, including eligible vehicles, can be found at https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after.
  • New credits for home improvements went into effect this year and can provide you with tremendous tax benefits. If you had a home energy audit or if you installed a new furnace, A/C, boiler, heat-pump, water heater, woodstove, windows, doors, insulation, solar panels, or battery storage please be sure to provide us with details and a copy of the invoice. More information can be found at https://www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit.
  • For the first time the IRS allows you to convert an unused 529 plan to a ROTH IRA. There are many restrictions and rules, but this can be a great opportunity to get money out of an unused plan and also benefit from tax savings. Please let us know if this may apply to you and find more information at https://www.cnn.com/cnn-underscored/money/529-to-roth-ira.
  • Many new rules around retirement accounts went into effect for 2024 including an increase of the maximum contribution for ROTH and Traditional IRA accounts to $7,000. The minimum age required to take RMDs has been increased to 73 if you have not already begun to collect them. One change still pending is the ruling on inherited IRAs. The IRS is expected to make a final announcement soon but currently the 10-year drain rule is still in effect. There are also new exclusions to avoid the 10% early withdrawal penalty based on certain circumstances. More information can be found at https://www.nerdwallet.com/article/investing/traditional-ira-rules
  • The Corporate Transparency Act (“CTA”) was enacted by Congress on January 1, 2021, as part of the National Defense Authorization Act. New beneficial ownership (BOI) reports must be filed with the Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Department of Treasury. Most active corporations, LLCs, and other businesses formed by filing a document with a Secretary of State’s office in the United States must complete this form. If you have any ownership OR control of any LLC, partnership, corporation, or trust please discuss this with your preparer. More information can be found at https://www.fincen.gov/boi and https://sos.oregon.gov/business/Pages/corporate-transparency-act.aspx.

A-1 Tax & Accounting, LLC

Contact Us

tammy@a-1taxaccountingllc.com

503-777-1040

503 775-4041 (Fax)

Hours

Tax Season

  • January 1st – April 18th 
  • Monday & Wednesday 9 am – 7 pm
  • Tuesday, Thursday, Friday & Saturday 9 am – 5 pm
Off Season
  • Starting April 24th
  • Monday – Wednesday 9 am – 3 pm