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Individual Tax Preparations and Filling services

Individual Tax Preparations and Filling services

We Are Here For All Your Individual Tax Preparations And Filling Needs!

We, Federal and State Individual Tax Preparation and Filing Company expertise in providing Income Tax services, provide you a team of highly-qualified and experienced financial specialists. Our entire professional team is amazingly skilled when it comes to dealing with a wide range of tax-related issues, including proportional, progressive, and regressive taxation. Moreover, our team always stays up to speed on their current rules and regulations so that we can give our customers answers with authenticity and genuineness.

We-Are-Here-For-All-Your-Individual-Tax-Preparations-And-Filling-Needs

We, Federal and State Individual Tax Preparation and Filing Company expertise in providing Income Tax services, provide you a team of highly-qualified and experienced financial specialists. Our entire professional team is amazingly skilled when it comes to dealing with a wide range of tax-related issues, including proportional, progressive, and regressive taxation. Moreover, our team always stays up to speed on their current rules and regulations so that we can give our customers answers with authenticity and genuineness.

When you try self-filling your taxes, it might either create problems for you or leave you with more questions than answers. Whether we consider it or not, the tax regulations have become so complicated that even a simple return can be more difficult to understand. It is all straightforward to forget about credits and deductions that you are entitled to. There is no option to take the help of an experienced and professional tax preparer, no matter if you operate a computer software application. As per the reports issued by the United States Government’s General Accounting Office last year, most taxpayers, that is approximately 77 percent of 71 million, feel that involving a professional tax preparer profited them.

We, MWJ Consultancy specialize in Individual Tax Preparation of:

  • Federal Tax Return Preparation 
  • 1065 Partnership Return 
  • 1120, 1120-S & 1120-C Business Returns 
  • 1041 Trust Return
  • 1040X Amendment Returns
  • State, City & Local Tax Return Preparation 
  • 1040EZ, 1040A, and 1040 Resident Returns 
  • 1040NR, 1040NR-EZ Non-Resident Returns

As your trusted advisor, our organization examines your unique tax status as your authorized counsel that supports you through any kind of tax issue that arises. Our goal is to guide you about keep lowering your tax liability and more of your hard-earned money, and thus, this is our job or duty to keep up to date on the laws related to state tax and prevailing federal.

Our company uses an in-depth understanding of tax codes so that we can prepare your individual tax returns. Therefore, you will not miss out on any deductions or tax rebates you’re entitled to.

Here's something extra we do for you:

  • Individuals Tax Preparation Services  
  • Preparation of filed tax returns  
  • Self-employed small business owners for calculating tax
  • Tax planning systems that remind your personal financial objectives
  • Electronic depositing and filling for a faster tax refund
  • File Extensions & calculation of the estimated tax to avoid interest and penalties

Getting tax guidance is the most profitable decision you will ever make. The tax dollars that you save will far outnumber the dollar spent. Thus we at MWJ Consultancy will make sure that assign the best personnel for your preparation needs and personal tax filling.

FAQs

Here are the steps that you should follow to prepare an ITR (Individual Tax Return):

1 - The taxpayer will need to calculate their income according to the income tax law provisions that apply to them. This calculation must take into account income from all the available sources like salary, freelancing, and interest income. 

2 - The next step is that the taxpayer must summarize their TDS amount from the TDS certificates received by them for all four quarters of the particular financial year.

3 - Now, the taxpayer must ascertain the income tax form/individual tax return relevant or applicable for filing his ITR (Income Tax Return). 

4- Next step is to visit the site "www.incometax.gov.in" and click on 'Downloads' from the top menu bar. You will have to choose the assessment year and download the offline utility software, for example, Microsoft Excel, JSON, or Java, based on your preference. 

5 - Now, after downloading the offline utility, simply fill in the relevant details of your income, and then check the tax payable or the refund receivable according to the utility calculations. 

6 - Validate the information entered

7- Upon successfully validated, click on the 'Generate XML' button on the right-hand side of the file so that you can convert the file into an XML file format.

8 - Now, you need to log in to the income tax e-filing portal and tap on the 'e-File' tab to go to the 'Income Tax Return' option.

A tax preparer bond refers to the kind of benefit of a tax preparer's clients. It will protect the preparer's clients if they commit an ethical or legal violation, including Fraud, Misrepresentation, and Theft.

A tax penalty is charged on a corporate or individual taxpayer for not paying enough of their total withholding due and estimated tax. If an individual has an underpayment of estimated tax, they might be required to pay the penalty for that. In other words, an underpayment penalty is a fine charged by the IRS on taxpayers who have enough withheld from their wages or do not pay enough of their estimated taxes or who pay late. To avoid an underpayment of the estimated tax penalty, individuals should pay either 100% of last year's tax or 90% of this year's tax.

A Certified Public Accountant (or CPA for short) is a person who is licensed by the state so that he or she can offer accounting services to the public.

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