You are in good hands!
FLIGHTAX has been in business since 1990. Our team of CPA’s and Enrolled Agents provide you with the most comprehensive tax consultation and preparation possible. We are members of the National Association of Tax Preparers, Indiana CPA Society, and the National Association of Enrolled Agents.
We will prepare and electronically file your Federal and State returns, and have any refunds deposited directly into your bank account. Refunds are typically deposited 10-14 days from the date of filing.
No matter which state you live in, we can prepare your return. Our experienced staff will be able to tackle any difficult situation you may have. We regularly prepare returns which involve the following components:
- Small Business (Sole Proprietorship, LLC, Partnership, S-Corp)
- Rental Property
- Multiple State Returns
- Foreign Income Exclusions and International Employment
Our staff of CPA’s and Enrolled Agents can also prepare your Corporate or Partnership Return!
Remember the return due date for 2018 is Monday, April 15th. If an extension is filed, you will have until Thursday, October 15th.
Note: If you owe the IRS, any funds due must be paid by April 15th to avoid potential penalty and interest. We can help you calculate a payment with your extension. If we have your return in our office as of the deadline, an automatic extension will be filed.
Corporate and Partnership returns are due Friday, March 15th – with the extension due date of Monday, September 16th.
An extension of time to file a return does not extend the amount of time you have to pay any tax due!
Questions? Call us!
If you have not taken the proper deductions in past years, we can amend your prior year returns for the past three years, and request an additional refund. The open years until April 15th of 2019 are 2015, 2016 and 2017. After April 15th of 2019, 2015 will close and no further refunds can be requested!
Download the Amended Return Organizer
FLIGHTAX will not charge you a fee unless amending the return will benefit you substantially. If you are able to receive an additional refund from the IRS, fees will apply.
For us to Amend a prior year return we need the following:
- Copy of your original return filed
- Original W-2 – If you do not have a copy, give us a call!
- Last pay check stub of the year we are amending
- Copy of all 12 months of Flight Schedules for per diem deduction
- Completed Amended Return Organizer
Don’t leave $ with the IRS
Call us today or download the Amended Return Organizer!
Welcome to ShareFile, a secure and convenient way to exchange tax information with Flightax.
If you already have a ShareFile secure portal with Flightax—click here to access it.
After you’ve filled out the request form, you will receive a welcome email from ShareFile. You then may sign in from the ShareFile Login page to access tax returns or upload files for tax preparation. We recommend that you bookmark the location for future reference.
We are dedicated to providing you with a secure environment for your sensitive information. If you have any questions or concerns regarding your secure portal, please call us at 317-984-5812.
C Corporation, S Corporation, Partnership or Trust Returns – we are the professional staff to assist you at every level!
Our staff of CPA’s and Enrolled Agents will assist you in the preparation of your S-Corp, Partnership or Trust returns. If you have incorporated during the year, the IRS requires that you file either a 1120, 1120S or 1065 return. (Exception – single shareholder LLC – this will be on your personal return as a Schedule C)
The deadline for C & S Corp returns is March 15th with extension deadline to September 15th. If you are filing a Partnership return, this filing date and extension date is the same as individual – April 15 and October 15.
If you are just staring your business, call us for help in determining which business entity is best for you!
We have designed several professional deduction worksheets for a variety of professions. If you our your spouse are employed in one of the following professions, please download the worksheet and submit it to us with your full Organizer!
- Real Estate Agent
- Additional Contributions
- Additional Rental Properties
- Air B&B Worksheet
- MLM Worksheet
We recommend that you always electronically file your Federal and State income tax returns!
When you file a paper return, either Federal or State, this return is hand entered into the government’s computer allowing for data entry errors by human hands on your tax return.
When a return is electronically filed, it goes directly to the IRS or State as we prepared the return. We receive a confirmation from the government that your return was received and accepted. This acceptance usually comes back to us within 24-48 hours.
If there is a problem with the return such as a claimed dependent or incorrect SS#, the IRS will reject the return and inform us of the error, we can then contact you and correct the situation in a matter of hours vs. days with a paper return.
This service is Free. However, if you choose to have a paper-filed return, we charge an additional fee of $50.00. (Fee will not be charged if return is ineligible for electronic filing)
We also recommend that you have your refund directly deposited into your checking account. In order for us to do this, we will need a copy of a voided check. Just go to your check book, write VOID across a check and send it to us with your Organizer.
DO NOT send us a deposit slip – it is fairly common for banks to use internal account numbers on deposit slips that are not meant for outside deposits.
If you don’t have a paper check. Contact your financial institution and request the following information:
- Routing Transit Number – RTN
- Full Account Number
- Name and Address of The Bank
Provide this information on a separate sheet of paper – please check it and confirm with your financial institution!
Direct deposit is FREE!
First things to do:
- Call Flightax – 317-984-5812
- Fax the letter to us – 800-951-8879
- Don’t Call the IRS
- Don’t Pay the IRS
What is an audit?
An audit is an inspection of an individual’s or entity’s books and records by the IRS. If you’re being audited, the IRS will send you a letter stating which type of tax audit applies to you. There are 3 types of tax audits:
Correspondence Audit — You don’t need to physically see an IRS agent for this type of audit. The IRS will request documentation, and you can mail it to them instead of delivering it in person. This is the most frequent type of audit.
Field Audit — If the IRS needs to verify information about your home or business, they may come to see it. Field audits usually involve businesses.
Office Audit — You must be seen in an IRS office and provide requested documentation.
Again … First things to do:
- Call Flightax – 317-984-5812
- Fax the letter to us – 800-951-8879
- Don’t Call the IRS
- Don’t Pay the IRS
Audit Terms to Know
Lien — This is a legal claim to your property (not seizure) as security for payment of tax debt. Essentially, the IRS is telling you your property is being used as a security for your debt and can be seized if you fail to pay it. If the IRS files a Notice of Federal Tax Lien, all your creditors are publicly notified. Liens may be issued when all of the following occur:
- The IRS assesses your outstanding tax liability.
- The IRS sends you a Notice and Demand for Payment (a bill that tells you how much you owe in taxes).
- You neglect or refuse to pay the entire debt within 10 days after you are notified.
If you pay the tax due or make arrangements for payment within the allotted 10 days, the IRS will send you a Release of the Notice of Federal Tax Lien within the next 30 days.
Levy — A levy is a legal seizure of your property to pay a tax debt. The IRS may seize and sell any type of real or personal property that you own or have interest in, including cars, boats, houses, wages, retirement accounts, dividends, bank accounts, rental income, cash value of life insurance or commissions. This won’t happen unless you’ve first received and ignored a Final Notice of Intent to Levy and Notice of Your Right to a Hearing. These documents are delivered in person, to your place of business or to your last known address by certified mail.
What to Keep In Case of an IRS Tax Audit
You should keep your tax returns and any supporting documentation for your tax returns for 7 years. Supporting documentation may include:
- home mortgage statements
- Forms W-2 and W-2G
- Forms of the 1098 and 1099 series and Schedules K-1
- receipts for employee business expenses
- justification of fair market value for any items donated to charity
- receipts for items donated to charity with value greater than $500
- receipts for charitable contributions
- receipts for rental property income
- brokerage statements
- receipts for qualified education costs
- 401(k) statements
- IRA contribution records
- receipts for items sold at a gain
- home-office-related receipts
- pay stubs
- copy of the front and back of the check you used to pay your tax balance due, if applicable
Which tax returns are more likely to get audited?
According to the IRS statistics, individual returns where taxpayers claimed the Earned Income Credit, returns with Schedule C, and returns with Schedule E or Form 2106 are more likely to be examined by the IRS. The IRS has been focusing on high Employee Business Expenses compared to income. You as a member of a flight crew who travels and takes the per diem deduction are especially susceptible to an IRS audit. Those of you who fly International have an even higher per diem allowance – again, making you a focus of IRS correspondence audits.
For the record: Flightax has never lost an audit on the per diem allowance deduction!
Your best defense in an audit is to obviously always report all of your income and claim only the deductions and credits to which you are entitled. If you do so, you have no reason to fear an audit.
IRS Auditors – What you should know!
If you are an IRS Revenue Agent, please let us help you in your audit of an airline professional. In order to explain the employee business expenses for a Flight Attendant, it will be helpful to provide some background on the profession.
Airline crewmembers are paid an hourly amount by their airline to reimburse them for meals and incidental expenses incurred while traveling on business. As a way to simplify the documentation burden associated with keeping track of a pilot’s meal expenses, the IRS allows use of the per diem method of documenting such expenses (IRS Rev Proc 2006-41). These rates are established by the GAO and referred to as CONUS rates for domestic locations and OCONUS for international. By using this method, the taxpayer uses his airline schedules and is considered to have his per diem expenses “deemed documented” without keeping actual receipts.
For direct access to the CONUS and OCONUS please follow the following links:
Because they are members of the transportation industry, airline crewmembers have the choice of using the “actual city” or “average city” method of calculating their meal deduction. Using the “actual city” method, we determine the number of days and partial days the crewmember was away overnight in each layover city, using the client’s flight schedules and calendar. Almost every city has an assigned meal and incidental (MIE) expense allowance in the CONUS (continental U.S.) tables established in 41 C.F.R. ch 301 or the OCONUS (outside continental U.S.) tables established by the Dept. of Defense. We then multiply the number of layover days by the established rate for each city to obtain the amount of MIE expenses deemed substantiated by the taxpayer.
This total is reported on Form 2106, line 5, column B. On this same form on line 7, column B, we enter the amount of reimbursements received by the employee, which were NOT reported in Box 1 of their W2. Most airlines provide this amount in Box 12 of the employee’s W2 under Code L or on the employee pay stub. The excess is then multiplied by the special standard meal deduction percentage that applies to Department of Transportation “hours of service limitations”.
The additional expenses listed on lines 2, 3 and 4 of the 2106 include travel related expenses, internet access fees, uniform purchase and maintenance, and safety and professional item expenses – all of which are IRS-approved deductions for a taxpayer employed as a Flight Attendant. Other approved deductions including union dues and type rating expenses are often reported on Schedule A under Miscellaneous Deductions.