Letter to Our Clients May 2019 | Lake Stevens Tax Service

A Letter to Our Clients – May 2019

2018 Tax Season is Officially Over

It’s hard to believe that its already May and tax season is officially over… but it’s true! During the last few months, we helped our clients wrap up another great (and busy) tax season. There was, as always, a lot of paperwork, emails, and nail-biting involved in the days preceding April 15, but that’s all been completed (the paperwork and emails, that is).

After a relaxing few days with our loved ones, we’re ready to move into May and June with renewed energy and enthusiasm. Before we do, though, we thought we’d recap the 2018 Tax Season and provide some insights into 2019.

Bump in Take Home Pay Leads to Smaller Return for Some

Unfortunately, this tax season held some unpleasant surprises for some who may rely on their tax refunds to pay off debt, fund a vacation, or beef up their savings. Due to the new tax laws, the government changed the amount of taxes withheld during 2018, resulting in a bump in take-home pay and an overall decrease in taxes paid. Those who are used to getting a sizable refund received smaller refunds or may have ended up owning in some cases.
Check Your W-4
Although the Internal Revenue Service issued notices last year about the lower withholding rates that might lead to lower (or no) refunds, some folks were caught off-guard by the changes. If you need help reviewing your own withholding rates, please contact our office.
We are here to help you manage your tax liabilities in a way that supports you and your financial goals!

Speaking of Payroll…

As a notice to business owners who issue payroll:

“The Social Security Administration is sending out notices via U.S. Postal Service mail (not e-mail) to employers if there is a discrepancy between a name and a social security number on a person’s W-2 form. Here’s a link for the notice on the SSA’s website.

“If you receive notice regarding one of your own employees, contact your payroll service provider. If we are assisting with your payroll, please let us know and we’ll be happy to help!”  Lake Stevens Tax Service proudly offers several business services to best help our clients, such as:

Our People Make a Difference

Our People Make the Differance | Lake Stevens Tax Service

Given the busy tax season is behind us, I would like to take this time to thank our amazing staff at Lake Stevens Tax Service for their dedication to professionalism, responsiveness, and quality!  By combining our expertise, experience, and the energy of our staff, each of our clients this tax season received the close personal and professional attention that they deserve.

Most importantly, a special thanks to our clients for trusting us with your tax returns during our busy season.  As always, we are grateful for your business and enjoyed working with you. We made it through another tax season!

Sincerely,

Juston Masuda, CPA | Lake Stevens Tax Service

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