are Seland & Winn™ Tax Services staff are so
knowledgeable and polite?
their training, which is an ongoing process.
In our profession, knowledge and
politeness are attributes of all Seland & Winn
do I contact a Seland & Winn™ Tax Services office?
You may contact any Seland
& Winn office by using the “Contact Us” link on
this Website or by calling …
||Why aren’t Seland & Winn™
offices open after April 15th?
reality, all Seland & Winn offices are open
can be secure knowing that your local Seland & Winn
office will be around all year and generally in the same
location you have come to pattern your tax itinerary from.
Your office will not
move to some unknown location on April 16th
then not tell you about it, and then not reopen until
January 2nd of the next year!
the end of the year, I get this “Statement Of
Overpayment” Form 1099-G from My State Tax Department. Is
this income that I have to declare on my taxes?
is a common and popular question.
This Statement Of Overpayment amount from your
State Tax Department equates to some portion, or all, of
your State Refund dollar amount from the preceding year.
This Statement only means something to you if you
itemized your deductions (filed Schedule A) with your
Federal tax return from the previous year.
Filing this means that your total of Itemized
Deductions list was higher than the Standard amount given
to you for your filing status.
From the Itemized Deductions checklist, a
deductible expense is the amount of State income tax you
have paid in the preceding calendar year.
This State income tax amount is from either
withholding from your wages, State Estimated tax deposits,
and/or the “Balance Due” you paid to your State with
your tax last year. At the time you file your Federal return, you are deducting ALL
taxes you deposited on “your account” in that year.
When you later prepare and file your State return,
those calculations may come down to where you are due a
Refund of a portion of your deposits to the State.
This is the basis of the “Overpayment” number
that shows on your 1099-G form.
casino winnings taxable?
to the US Tax Code, all income is taxable when acquired,
or “earned”. Winnings from a casino, or any lottery or contest for that
matter, are taxable.
Generally, the casino or lottery contest will issue
you a Form W2-G when your single event winnings exceed
Often, the W2-G will be the receipt tape given to
you at the time of the event.
It is your responsibility to keep these receipts
and report the winnings at tax time, even if you are not
given a Form W2-G.
just received a Form 1099-C in the mail from my bank
What is this?
Form 1099-C has seen a renewed popularity recently.
The 1099-C is the form for reporting the
Cancellation of Debt for any loan you may have had,
whether from a credit card, personal loan or real estate
mortgage or home equity loan.
If the nature of the loan is Unsecured Debt,
meaning from a non-collateralized Loan such as from credit
cards or personal loan, generally the amount of Principal
Cancelled, or eliminated, is taxable income.
If the nature of the debt is Secured
Debt, such as
from a home or automobile, some more facts have to be
known to determine taxable income, if any.
If the cancelled debt is concurrent or a related
event of a bankruptcy or if you can prove you are financially
insolvent at the time of the Debt Cancellation, this
may result in the cancelled debt Principal being exempt
from taxation. With the recent surge in Real Estate value declines
and the general state of the economy, Form 1099-C has
become more widespread.
Every situation is unique and a determination of
all facts is needed to know your particular situation.
||I filed my tax return
When will I get my Refund direct deposited Into my
IRS publishes a Worksheet of Direct Deposit dates for each
Tax Season. These
dates are usually Fridays, and the transactions tend to be
done in the early morning hours.
However, this Worksheet is always subject to change
or modification and there may be additional or less Direct
Deposit dates that actually take place.
This means there are no guarantees as to when you
will get your Refund.
The IRS has been pretty diligent at maintaining the
Worksheet Date structure from year-to-year. Please see the next FAQ for further guidance.
||How do I contact the IRS?
the Internet and telephone can be utilized for a wide
variety of functions.
During Tax Season, the Internet may prove to entail
less waiting time for your needs.
Use the only IRS website, which is www.irs.gov.
Have your Social Security number(s) handy as well
as your tax return for the current year and last year as
you may need to use information from these as
“passwords” functions to gain admittance to your
telephone number nationwide is 1-800-829-1040.
This general number allows you to gain admittance
to the widest area of functions in the system.
Other numbers can be utilized for more specialized
two forms of communication should serve the vast majority
of issues you would have, including Refund information.
Letter writing will be less efficient and take a
lot longer. A
word about communicating with the IRS, if you initiate the
best methods are the Internet or telephone.
If the IRS initiates a communication, it will be by
This is mentioned because of the recent
proliferation of Scam artists who utilize both telephone
and the Internet to dupe taxpayers into having their money
stolen in some form!
Please do NOT fall prey to these Scam artists.
If somebody calls or sends you an e-mail claiming
to be the IRS, they are NOT the IRS!!!!
||It is February 2nd
and I still do not have my W-2s or my Interest/Dividend
forms 1099 Statements from my bank and my investment
Isn’t January 31st the deadline for
||In 2008, the IRS modified the
deadlines for the banks and financial institutions for
getting these 1099 forms to you.
For 2008 and beyond, the financial institutions
have until February 15th to get these to you.
This was done in an effort to reduce the
inaccuracies previously present when the deadline was
Very often, corrected 1099s had to be sent
resulting in numerous headaches for both you the taxpayer
and the IRS. For
W2s, the deadline is still January 31st.