Many tax preparers gear up for the upcoming tax season
COLUMBUS, Miss., — (WCBI) Tax season, for many, can be like a second Christmas. But for others, it’s the least wonderful time of the year.
For some, it’s their second favorite time of the year – tax time, and while many people are awaiting to file and get their returns, for others, it’s a real hassle.
Jessica Martin-Nicholson with M & M Tax Services in Columbus says when customers are prepared and have all of their documentation, it makes the process a lot smoother.
The one thing she wants people to remember is to disclose all of their information.
“If you under report that income, the situation will come in is that the IRS will hold your return. And I have had clients come in ‘what’s going on with my tax return?’ So, I go down the steps and we have X, Y, and Z, do you have any other jobs that you may have not reported? Then the truth comes out, “I didn’t report this, or I didn’t report that, or I forgot, or it slipped my mind, or I forgot that job,” Nicholson says.
With the passing of the Big, Beautiful Bill, there are changes this tax season people need to be aware of. If you have student loans, you need to be sure they’re not in deferment.
“So, this year they had a pause on student loans but that pause is off, so this year, if you owe student loans, it could be an offset on your tax return and you’ll have to pay that money back to the student loans,” Nicholson says.
Nicholson says this year customers should be patient as tax preparers work through learning the new laws and changes resulting from the Big, Beautiful, Bill.
“Yes, it has. I think’s myself as well as other tax preparers. It’s going to be a little bit of an adjustment, but I guess we all will navigate through,” Nicholson says.
As the tax season rolls on, the team at M & M wants people to be prepared, have all their documentation and to be patient.
The first day of the tax season for the Internal Revenue Service is January 26
