Tax Season 2019 - What to Expect

As we enter a new tax season it is a great time to communicate changes and updates.  There are four items I feel are of particular importance.  Each of the following items are discussed in further detail in separate sections below.

  1. Tax Season – What to Expect

  2. Online Scheduling and Appointments

  3. Tax Season Letters and Documents

  4. Tax Caddy – Electronic Delivery of Personal Income Tax Documents

Tax Season – What to Expect

We cannot remember a year with so many outstanding issues at the beginning of filing season. This tax filing season is shaping up to be extremely challenging.

  • A new tax law was passed in December 2017 - the most significant tax changes in 30 years. (Tax Cuts and Jobs Act (TCJA))

  • Over a year later, we are still waiting for guidance from the IRS in many critical areas related to tax calculations for businesses and individuals.

  • New tax forms, and changes to existing forms, have not yet been released by IRS, which will delay updates from our tax software vendor.

  • A drafting error in the original legislation changes certain property improvements from being fully deductible, to requiring depreciation over 39 years.  We are awaiting Congressional action to amend the statute.

If you own a business, rental property, and/or expect a Schedule K-1 from a pass-through entity or investment, we may need to extend your personal tax return.  Here’s why:

  • Firstly, we are expecting delays everywhere.  You may not receive K-1’s, or other information timely.

  • Secondly, as mentioned above, we may not have the necessary guidance from the IRS to make proper calculations of your tax.

It is always best to prepare your tax returns correctly the first time.

If we file your return and claim a benefit that later is determined ineligible, you could owe penalties and interest.  If we file without the tax benefit, and later you are deemed eligible, we would be required to file an amended return, which is extra expense to you.  This could also potentially expose you to audit scrutiny.

So, an extension of your tax filing date may be the best option.  On the positive side, we regularly file client tax returns on extension, and while many commentators believe extensions reduce your exposure to audit risk, there is no evidence that an extension increases your audit risk.  In addition, if we request for an extension of time to file, it allows us to thoughtfully prepare your returns without the rushed demands of a deadline.

Online Scheduling and Appointments

I successfully implemented (thanks to you!) an online appointment scheduling application in January 2018. It has worked well for the past year, so I will continue to make this option available to you.  Through, you have access to my online calendar for self-scheduling of telephone calls, videoconferences, in-office and on-site meetings. A link to my calendar is provided below.

Benefits to you (and me):

  • Reduce wasted time chasing each other down to schedule a time to get together.  Missed phone calls, voice mails, back-and-forth emails, etc. create inefficiencies and frustrations.

  •  Flexible, 24/7 online access to see my work calendar availability.

  • Email and text messages with confirmations and reminders.

  •  Ability to change or cancel your appointments without having to contact the office, or me directly.

Chuck Odom, CPA Online Calendar (<---click link to open my online calendar.  Be sure to bookmark the site for future access).

Tax Season Letters and Documents Available for Electronic Viewing and Signatures

As part of tax preparation services, we are required by the IRS and our State CPA licensing board, to provide certain information to you, and obtain your signatures as confirmation.  These communication documents are lengthy, I know. In the essence of efficiency for you, and us, I am providing a link to these online forms for your electronic review and signatures. Please sign your documents electronically prior to delivery of tax information to us for return preparation.

If we prepare an individual income tax return for you, please follow the Personal income tax link below to sign your documents.

If we prepare a partnership or corporation return for you, please access the Business income tax link below to sign your documents. You will need to complete a separate form for each business return we prepare.

Tax Caddy – Electronic Delivery of Personal Income Tax Documents

TaxCaddy is an online application that simplifies tax time by allowing you the ability to:

  • Gather your personal income tax documents year-round and store electronically until tax preparation time.

  • Upload documents to your account with your computer and/or by taking photos with your smartphone or tablet with the free iOS or Android TaxCaddy app.  Just download the free app from the respective App Store.

  • Automatically retrieve tax documents into your account from select financial institutions and payroll providers.

  • Complete tax organizer questionnaires online.

  • Deliver documents to Holden Moss electronically.

  • Message us directly within the TaxCaddy online and mobile app. Easy communications on tax matters!

  • Review and approve your tax return.

If you are already using TaxCaddy, your 2018 questionnaires and document request lists will be populated soon.

If you are not a current TaxCaddy user, and are interested, please let me know!  Provide us with your preferred email address, we’ll send you an email invitation directly from TaxCaddy. Learn more at

Jean and I look forward to seeing you soon. Find us at Holden Moss CPAs for service inquiries and to learn about the service offerings available.

Chuck Odom, CPA

Louisburg, NC