Jim Quadros Income Tax



Our Services



We will prepare your 2021 Federal and State income tax return from the information that you will bring and provide to us. A tax return is a document you must file with the government showing how much income you earned in a particular year. You need to bring with you and present to your income tax preparer the following documentation:


  • INCOME DOCUMENTATION PRIOR YEAR TAX RETURN RECORD OF PRIOR INCOME TAX PAYMENTS (if applicable)
  • REPORTING DEDUCTIONS AND CREDITS. (You must provide supporting documentation)
  • WORK-RELATED EXPENSES ARE NO LONGER ALLOWED ON SCHEDULE "A"
  • PERSONAL INFORMATION: (The IRS needs to know exactly who's filing and who is covered in your tax return. To do this, you will need Social Security Cards for everyone on your return, photo ID for you and your spouse, dates of birth for you, your spouse, and your dependents including their relationship to you.
  • DIRECT DEPOSIT INFORMATION
  • Routing Number and Account Number


Earned Income Tax Credit (EITC)





If you claim this credit, your refund may be delayed. By law, the IRS must wait until mid-February to issue refunds to taxpayers who claim the Earned Income Tax Credit.


IRS REQUIREMENTS

Due to IRS requirements in reference to the Earned Income Tax Credit, Child Tax Credit, additional Child Tax Credit, American Opportunity Credit and Head of Household Status, you will need to provide all the required information to complete the PAID PREPARER DUE DILIGENCE requirements, form 8867. If you qualify for any of the credits or status mentioned above, you must bring with you to your appointment the documentation specified below:


If the qualifying child lives with only one parent or if you are not the parent(s), you must substantiate the fact that the qualifying child lived at the address specified on your tax return for the main taxpayer. Documents accepted are:

  • Provide some document or note from the school the child attends. The note must specify the address where the child lives, the school and year attended. Must correspond to the same year that your filing income tax claiming the child as your dependent and the name of the person authorized to make decisions at the school the child goes to.
  • If the qualifying child doesn't attend any school, you need to obtain from the child's doctor a note with the same information as specified above in reference to the child as a patient.

In addition to the documents referred above, you must bring with you to your appointment all of your dependents social security cards including of the qualifying child or children for the Earned Income Tax Credit.


If the child lives with only one parent or with no parents you will need to explain the reason for which the other parent or parents are not claiming the credit instead of you.


Maximum Credit Amounts

  • No qualifying children: $1,502
  • 1 qualifying child: $3,618
  • 2 qualifying children: $5,980
  • 3 or more qualifying children: $6,728

* Taxpayers claiming the EITC who file Married Filing Separately must meet the eligibility requirements under the special rule in the American Rescue Plan Act (ARPA) of 2021.


You must have earned income to qualify for the Earned Income Tax Credit.


Your income must be on a W-2 or 1099-MISC forms. If you're Self-Employed and on cash based format, the IRS requires that you bring with you a ledger with your earnings and expenses for the year in reference. Social Security income, Disability, Unemployment, Rental Income, Partnership Income and Interest Income are Unearned Income and do not qualify you for the Earned Income Credit.



Advance Child Tax Credit Payments in 2021





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.
  • You claim the other half when you file your 2021 income tax return. 

Please click here for additional information and requirements on the Earned Income Tax Credit.



1110 East Houston Ave, Visalia, CA 93292
(559) 754-2860



Jim Quadros Income Tax