Accounting And Tax Services, Tax Planning & Consultation

The IRS has ended tax season with over 35 million unprocessed returns, expect delays in receiving your refund.

Check the Status of your 2020 tax refund at the IRS website app "Where's My Refund" - updated every 24 hours

For Over 20 Years We Have Been Providing Accounting And Tax Services To Manatee County

Bradenton Office

Our Bradenton office allows us to extend our services to those clients south of the Manatee River. Located just west of the Downtown and Wares Creek area.

Tarah Van Fossen MSA, EA
2424 Manatee Ave W, Ste 201
Bradenton, FL 34205

Office: 941-708-5300
Fax: 941-761-6757
Email: Tarah@ataxshelter.com

Make An Appointment

Ellenton Office

Our Ellenton office is here to provide services to the North River communities of Palmetto, Ellenton, Parrish and north Manatee County. Located conveniently one mile west of Interstate 75.

Tonya Van Fossen, EA
3704 US Hwy 301 N, Ste 3
Ellenton, FL 34222

Office: 941-722-0470
Fax: 941-722-2411
Email: Tonya@ataxshelter.com

Make An Appointment

Featured Services

Details for Tax Planning and Consultation

Tax Planning is an evaluation of your business and/or personal income, evaluating your deductions and savings potential with the proper application of IRS Tax Code. Your tax plan is the annual road map to ensure you are maximizing your tax savings potential with your business and individual deductions. We are here to help you tax plan.

Details for Tax Preparation

With a wave of new tax changes affecting your business and personal taxes. You need a firm that stays current with the latest tax code changes. Whether you are an individual, business or non-profit entity, income taxation can be a complex road to navigate alone. We are here to help with your tax preparation needs.

Details for Full Charge Accounting (QuickBooks)

We are here to help you implement an accounting process that keeps your financials current, allowing for better management decisions all year long. Business owners using timely financial statements know where their business stands. Estimated profits/ losses and how to maximize tax deductions before tax time arrives.

Family Owned And Operated

Over 20 years experience and knowledge

Our mission is clear; to build a lifelong relationship with our clients. We are here to help them solve problems, we advocate for them and we provide the answers they need to make informed decisions regarding their taxes. We aim to provide a friendly, professional and competent service to the individuals and small business clients who depend on A Tax Shelter, Inc every year for their accounting, payroll and tax filing needs.

ATS Services

Tax Planning

Evaluate, Strategize and Implement

Accounting

QuickBooks, Training and Financials

Payroll Service

Efficient, Accurate and Affordable

QuickBooks Training

Business Owners and Staff Members

Tax Preparation

Accuracy, Timeliness and Compliance

Representation Service

Advocate & Negotiate

Updates IRS Child Tax Credit

Important changes to the Child Tax Credit are helping many families get advance payments of the credit:

Half the total credit amount is being paid in advance monthly payments. See the payment date schedule.
You claim the other half when you file your 2021 income tax return.

https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021

Blog

Tax Court Rules on Home Computer Deductions

https://www.accountingweb.com/tax/business-tax/who-gets-the-qualified-business-income-deduction

IRS Notice 1444 and Notice 1444-B

by fvt579 | Jan 21, 2021 | Uncategorized

Just a reminder that you will need to report your 2020 Stimulus payment AND your 2021 Stimulus payments on your 2020 tax return for reconcilation. The IRS will be sending out Notice 1444 for the first payment and Notice 1444-B with the second payment amount. As a...

Businesses have Feb. 1 deadline to provide Forms 1099-MISC and 1099-NEC to recipients

by fvt579 | Jan 14, 2021 | Uncategorized

IRS Issue NUmber: IR-2021-14 Inside This Issue: Businesses have Feb. 1 deadline to provide Forms 1099-MISC and 1099-NEC to recipients WASHINGTON − The Internal Revenue Service today reminded businesses and other payors that the revised Form 1099-MISC, Miscellaneous...

« Older Entries

Next Entries »

Facebook Feeds

A Tax Shelter Inc

2 weeks ago

Issue Number: IR-2021-232Inside This Issue________________________________________IRS Criminal Investigation releases annual report highlighting 2,500+ investigations, law enforcement partnershipsEnforcement actions focused on tax and COVID-related fraud, money laundering, cybercrimesWASHINGTON – Over 2,500 criminal investigations, the identification of more than $10 billion from tax fraud and financial crimes, and a nearly 90% conviction rate are just a few highlights from the IRS-Criminal Investigation (IRS-CI) Fiscal Year 2021 Annual Report. The report, released Thursday, details statistics, important partnerships and significant criminal enforcement actions from IRS-CI, the criminal investigative arm of the IRS, for the past fiscal year, which began Oct. 1, 2020 and ended Sept. 30, 2021.“IRS-CI agents are the only federal law enforcement officers with the authority to investigate criminal violations of the U.S. tax code. Their work reinforces the backbone of our voluntary compliance tax system -- a system that funds services and benefits for our nation, including defense, infrastructure and education,” said IRS Commissioner Chuck Rettig.In fiscal year 2021, IRS-CI built upon its existing network of U.S. field offices and international attachés to combat financial crimes across the globe. The agency’s alliance with the Joint Chiefs of Global Tax Enforcement (J5) helped strengthen public-private partnerships with financial institutions and the Fin-Tech industry to deter and identify criminal activity. Additionally, IRS-CI established its first cyber attaché in The Hague, Netherlands, to proactively support cyber investigative needs in coordination with Europol.“IRS-CI continues to lead tax and financial investigations here in the U.S. and across the globe,” said IRS-CI Chief Jim Lee. “In fiscal year 2021, as we faced the second year of a global pandemic, our team of agents continued to overcome personal and professional challenges to target criminals who exploited the U.S. tax and financial systems for personal gain.” While IRS-CI agents spent most of their investigative man-hours, about 72%, investigating tax-related crimes like tax evasion and tax fraud during fiscal year 2021, they also made significant contributions to money laundering, narcotics trafficking, public corruption, terrorism and COVID-19 fraud investigations. Case examples include:In April 2021, a dual Russian-Swedish national was arrested in Los Angeles on criminal charges related to his alleged operation of the longest-running bitcoin money laundering service on the darknet dubbed Bitcoin Fog. The bulk of cryptocurrency laundered through Bitcoin Fog came from darknet marketplaces and was tied to illegal narcotics, computer fraud and identity theft. This case marked the second U.S. prosecution of a cryptocurrency mixing service; both were investigated by IRS-CI.The ringleader of a transnational criminal organization, with ties to the Sinaloa Cartel, operating in California and along the East Coast was sentenced to 33 years in prison in July 2021 for narcotics trafficking-related charges. The sentencing followed a multiagency operation dubbed Operation Cookout that netted 65 kilograms of illegal drugs, 24 firearms, more than $700,000 in cash and guilty pleas from 45 defendants.Numerous IRS-CI investigations resulted in individuals being sentenced for fraudulently obtaining small business relief loans under the CARES Act. One of those cases involved a Texas businessman who was sentenced in September 2021 to 31 months confinement and 36 months of supervised release after he created a scheme to fraudulently obtain more than $3.3 million in Paycheck Protection Program loans for personal use.The report includes additional case examples for each U.S. field office, an overview of IRS-CI’s international footprint, details about the specialized services provided by IRS-CI and investigative statistics, broken down by discipline, for fiscal year 2021.www.irs.gov/pub/irs-pdf/p3583.pdf ... See MoreSee Less

www.irs.gov

View on Facebook

A Tax Shelter Inc

2 weeks ago

Issue Number: IR-2021-228Inside This Issue________________________________________IRS unveils new online identity verification process for accessing self-help toolsWASHINGTON – The Internal Revenue Service today announced the launch of an improved identity verification and sign-in process that enables more people to securely access and use IRS online tools and applications.Taxpayers using the new mobile-friendly verification procedure can gain entry to existing IRS online services such as the Child Tax Credit Update Portal, Online Account, Get Transcript Online, Get an Identity Protection PIN (IP PIN) and Online Payment Agreement. Additional IRS applications will transition to the new method over the next year.“Identity verification is critical to protect taxpayers and their information. The IRS has been working hard to make improvements in this area, and this new verification process is designed to make IRS online applications as secure as possible for people,” said IRS Commissioner Chuck Rettig. “To help taxpayers and the tax community, we are improving the accessibility of online tools that help families manage their Child Tax Credit, check on their IRS accounts and securely perform other routine tasks online.”The new process can reach more people through the expanded use of identity documents and increased help desk assistance for taxpayers who encounter a problem when attempting to verify their identity online. Developed under the Secure Access Digital Identity initiative (SADI), the new process complies with a federal mandate.To provide verification services, the IRS is using ID.me, a trusted technology provider. The new process is one more step the IRS is taking to ensure that taxpayer information is provided only to the person who legally has a right to the data.The IRS also integrated this new account-creation process into some applications used by tax professionals, including those used to request powers of attorney or tax information authorizations online using Tax Pro Account or to submit Forms 2848 and 8821 online. Accessing IRS toolsWhen accessing the tools listed above, taxpayers will be asked to sign in with an ID.me account. People who already have IRS usernames may continue to use their credentials from the old system to sign-in until summer 2022, but are prompted to create an ID.me account as soon as possible. Anyone with an existing ID.me account from the Child Tax Credit Update Portal, or from another government agency, can sign in with their existing credentials.To verify their identity with ID.me, taxpayers need to provide a photo of an identity document such as a driver’s license, state ID or passport. They’ll also need to take a selfie with a smartphone or a computer with a webcam. Once their identity has been verified, they can securely access IRS online services.Taxpayers who need help verifying their identity or submitting a support ticket can visit the ID.me IRS Help Site.www.irs.gov ... See MoreSee Less

Internal Revenue Service | An official website of the United States government

www.irs.gov

Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.

View on Facebook

Frequently Asked Questions

Am I having the correct amount of withholding from my paycheck/retirement distributions?

We offer tax planning services to review your current withholding. Knowing your current and expected tax bracket can take the guess work out of withholding. Check your tax withholding here at https://www.irs.gov/paycheck-checkup and schedule an appointment today with one of our experts to review your current tax and withholding needs.

What is Itemizing and how does this help me?

The IRS issues a Standard Deduction amount annually, this is a no questions asked reduction to your annual income. If you have allowable deductions in excess of the Standard Deduction, you have the option to itemize. Itemizing allows you to reduce your taxable income even more than the Standard Deduction. Review allowable itemized deductions here and see how you stack up. https://www.creditkarma.com/tax/i/standard-deduction-vs-itemizing/.

Who qualifies as a dependent?

Dependents can be your child and, in some cases, other individuals that live within your household or that you provide for. This IRS publication outlines the various steps to determine who is your dependent. https://www.irs.gov/pub/irs-pdf/p929.pdf.

What is the child tax credit, has it changed with the new tax reform?

With the implementation of the Tax Cuts and Jobs Act of 2018, the Child Tax Credit has been raised from $1,000 to $2,000 per child under the age of 17. This act has also allowed for a $500 tax credit for other qualified dependents on your tax return. Read more on the tax changes https://www.irs.gov/credits-deductions/child-tax-credit-and-credit-for-other-dependents-at-a-glance.

What is a tax credit and how does that help me when I file my taxes?

Tax credits help to reduce your tax liability on an annual basis. Some tax credits are refundable becoming part of your refund and others only reduce your tax liability. Here is a list of IRS tax credits https://www.irs.gov/credits-deductions-for-individuals Schedule your tax planning appointment with one of our experts to see if you qualify.