{"id":135,"date":"2017-08-07T03:29:07","date_gmt":"2017-08-07T03:29:07","guid":{"rendered":"http:\/\/twcfinancial.net\/?page_id=135"},"modified":"2017-08-16T18:11:47","modified_gmt":"2017-08-16T18:11:47","slug":"greensboro-faq","status":"publish","type":"page","link":"https:\/\/twcfinancial.net\/greensboro-faq\/","title":{"rendered":"FAQs"},"content":{"rendered":"

[et_pb_section bb_built=”1″ fullwidth=”on” specialty=”off”][et_pb_fullwidth_header _builder_version=”3.0.65″ title=”FAQs” background_image=”http:\/\/twcfinancial.net\/wp-content\/uploads\/2017\/08\/FAQ_TWC_1920x300.jpg” text_orientation=”left” header_fullscreen=”off” header_scroll_down=”off” image_orientation=”center” background_layout=”dark” content_orientation=”center” custom_button_one=”off” button_one_letter_spacing=”0″ button_one_icon_placement=”right” button_one_letter_spacing_hover=”0″ custom_button_two=”off” button_two_letter_spacing=”0″ button_two_icon_placement=”right” button_two_letter_spacing_hover=”0″ \/][\/et_pb_section][et_pb_section bb_built=”1″ inner_shadow=”off” parallax=”off”][et_pb_row][et_pb_column type=”4_4″][et_pb_accordion admin_label=”FAQs” _builder_version=”3.0.65″ border_style=”solid”] [et_pb_accordion_item title=”Q: How long does it take for the IRS to accept a tax return?”] You should be able to check the status of your tax refund roughly 72 hours after your receive confirmation form the\u00a0IRS<\/strong>\u00a0that they have received your tax refund via\u00a0E<\/strong>–File<\/strong>. You will need to wait at least 3 weeks if you mailed in your tax return.<\/span>Jan 9, 2017 [\/et_pb_accordion_item][et_pb_accordion_item title=”Q: How much do you have to make before you have to file taxes?”] When determining whether you need to file a return, you don’t include tax-exempt income. In 2016 for example, if you are under age 65 and single, you must file a tax return if you earn\u00a0$10,350<\/strong>\u00a0or more, which is the sum of the 2016 standard deduction for a single taxpayer plus one exemption. [\/et_pb_accordion_item][et_pb_accordion_item title=”Q: Do I have to file taxes if I did not work?”]<\/p>\n

Even\u00a0if<\/strong>\u00a0you earned income last year,\u00a0if<\/strong>\u00a0it falls below the IRS minimum you don’t have to\u00a0file<\/strong>\u00a0a\u00a0tax<\/strong>\u00a0return. The minimum varies according to your age and\u00a0filing<\/strong>\u00a0status — whether you are single, head of household,\u00a0filing<\/strong>\u00a0jointly with your spouse or you\u00a0can<\/strong>be claimed as a dependent on someone else’s\u00a0taxes<\/strong>.<\/p>\n

[\/et_pb_accordion_item][et_pb_accordion_item title=”Q: Do you have to file a tax return if you don’t owe money?”]<\/p>\n

The IRS has general\u00a0filing<\/strong>\u00a0requirements for most taxpayers. Even\u00a0if<\/strong>\u00a0no\u00a0tax<\/strong>\u00a0is\u00a0owed<\/strong>, most people\u00a0file<\/strong>\u00a0a return\u00a0if<\/strong>\u00a0their gross income is more than the sum of the standard deduction and a personal exemption. The standard deduction amount\u00a0you<\/strong>\u00a0can take will depend on your\u00a0filing<\/strong>\u00a0status and age.<\/p>\n

[\/et_pb_accordion_item][et_pb_accordion_item title=”Q: What is an Enrolled Agent?”] A: Enrolled Agents are tax professionals licensed to represent taxpayers before the IRS. The Enrolled Agent designation dates back to 1884. Many Taxpayers were victimized by unscrupulous representative when claiming losses in post Civil War days. Congress recognized a need to regulate individuals representing citizens dealing with the Treasury Department and create the Enrolled Agent credential. Today, Enrolled Agents assist taxpayers before the Internal Revenue Service. [\/et_pb_accordion_item][et_pb_accordion_item title=”Q: How can an Enrolled Agent help me?”] A: They prepare tax returns, answer questions regarding national, state, and local tax laws as well as represent taxpayers in disputes with state and the IRS. [\/et_pb_accordion_item][et_pb_accordion_item title=”Q: How else can an Enrolled Agent benefit me?”] A: They provide tax assistance for estates, trusts, partnerships, corporations and other entities that are required to report taxes. [\/et_pb_accordion_item][et_pb_accordion_item title=”Q: How are Enrolled Agents different from other tax practitioners?”] A: They are required to demonstrate their competence in tax matters before they represent a taxpayer before the IRS. [\/et_pb_accordion_item][et_pb_accordion_item title=”Q: Do all Enrolled Agents specialize in taxation?”] A: Yes [\/et_pb_accordion_item][et_pb_accordion_item title=”Q: Who gives Enrolled Agents the authority to represent taxpayers before the IRS?”] A: They receive their authority from the federal government instead of the state governments. [\/et_pb_accordion_item][et_pb_accordion_item title=”Q: Are Enrolled Agents required to renew their licensing?”] A: Yes. They must complete 72 hours of continuing professional education every three years to maintain their status. [\/et_pb_accordion_item][et_pb_accordion_item title=”Q: Couldn\u2019t an Attorney or CPA represent me before the IRS?”] A: It depends. CPAs and Attorneys are licensed by their states and are limited in representation to those states in which they are licensed. They don\u2019t always specialize in taxes. Enrolled agents on the other hand can practice in all 50 states and all U.S. territories. Enrolled Agents do specialize in taxes. [\/et_pb_accordion_item][et_pb_accordion_item title=”Q: Where my I obtain additional information about Enrolled Agents?”] A: For more information on Enrolled Agents go to: http:\/\/www.naea.org [\/et_pb_accordion_item] [\/et_pb_accordion][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div> You should be able to check the status of your tax refund roughly 72 hours after your receive confirmation form the\u00a0IRS\u00a0that they have received your tax refund via\u00a0E-File. You will need to wait at least 3 weeks if you mailed in your tax return.Jan 9, 2017 When determining whether you need to file a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"

At TWC Financial, you will reap the benefits of 20 years of experience. We specialize in full service tax preparation for individuals and businesses. Our tax services and benefits include:<\/p>

Preparers who work on tax issues year round
Expertise in the constantly changing field of taxation
Assisting in planning for the future of your business
Representing clients in IRS proceedings
Personal Income Tax Services
At TWC Financial, home to TWC Rapid Tax Service we prepare more than 1,000 individual and business returns each year. Our goal is to produce the best returns with the lowest amount of tax permissible by law. The tax preparers at TWC are available year round and keep up with the latest in tax and accounting laws.<\/p>

Business Tax Services
When it comes to tax and accounting services for your business, you want someone who has your success as their primary focus. At TWC, we will do just that. We offer full service accounting and tax preparation for small businesses. Our team of tax preparers and an Enrolled Agent allow us to handle all of your tax and accounting needs giving your business the personalized attention that you deserve.<\/p>

Tax Planning
From quarterly taxes for small corporations to LLCs and sole proprietorships, TWC is here to help make all your tax and accounting work as simple as possible. Our knowledge of tax law combined with annual continuing education means that our tax preparers are able to handle all your tax needs with ease.<\/p>","_et_gb_content_width":"","footnotes":""},"_links":{"self":[{"href":"https:\/\/twcfinancial.net\/wp-json\/wp\/v2\/pages\/135"}],"collection":[{"href":"https:\/\/twcfinancial.net\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/twcfinancial.net\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/twcfinancial.net\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/twcfinancial.net\/wp-json\/wp\/v2\/comments?post=135"}],"version-history":[{"count":0,"href":"https:\/\/twcfinancial.net\/wp-json\/wp\/v2\/pages\/135\/revisions"}],"wp:attachment":[{"href":"https:\/\/twcfinancial.net\/wp-json\/wp\/v2\/media?parent=135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}