Tax season is in full swing! Here are some helpful reminders for tax professionals.
Submitted by the SC Department of Revenue
If your work as a tax professional involves helping clients file Individual Income Tax returns, you’re probably finding that each day is busier than the last this time of year. The South Carolina Department of Revenue (SCDOR) knows how hard you work every day to help South Carolinians file accurate, timely returns and receive their refunds as quickly as possible. So with that in mind, here are some tips we hope will carry you through until the end of tax season:
Returns are due April 18! We’re starting with this tip so you can keep in mind – there’s light at the end of the tunnel! The last day to file 2021 Individual Income Tax returns, both with the IRS and the SCDOR, is Monday, April 18, 2022.
Review relevant tax credits with eligible clients. We urge you to pay special attention to the Earned Income Tax Credit(EITC). Any taxpayer making less than $57,414 in 2021 should check their EITC eligibility. The average federal EITC claimed last year was $2,411, yet 1 in 5 eligible taxpayers don’t claim the credit. Clients who are eligible for the federal EITC and were a full-year resident of South Carolina in 2021 can also claim the state EITC, which is 83.33% of the federal credit this year. Learn more about the EITC at gov/eitc, and review a full list of available South Carolina tax credits at dor.sc.gov/taxcredits.
Make sure your clients choose direct deposit. It’s the fastest, safest way for them to receive their Income Tax refunds. We’ll deposit their refunds directly into their designated bank account as soon as we’ve processed their return, so they don’t have to worry about a check getting lost or stolen in the mail. You will need to input your client’s bank account and routing numbers as part of the filing process, so ask your clients to bring that information to their appointments.
Let your clients know when they can expect their refunds. The SCDOR issues most refunds 6-8 weeks after the return is filed. Clients who choose a paper check or debit card refund will wait a little longer for mail processing. Once you’ve filed a client’s return and received confirmation that we’ve received it, make sure they know the timeline, then explain they can check their refund status 24/7 at sc.gov/refund.
If your client owes taxes, encourage them to pay electronically. Our free online tax portal, MyDORWAY, is the fastest, easiest way for individuals to make a payment. Clients who don’t expect to make recurring payments can pay without creating an account. From the MyDORWAY homepage, click Make a Payment > Individual Income Tax Payment > Return Payment or visit sc.gov/pay. If you have clients that need to make recurring payments, discuss signing up for a free account with them. Information and video tutorials are available at dor.sc.gov/MyDORWAY.
Make cybersecurity your top priority. Protecting taxpayer information is our highest priority, and it should be yours as well. Make sure your clients know where to find your Preparer Tax Identification Number (PTIN). You should have a Federal Trade Commission-mandated written information security plan; review it periodically to ensure you’re following it closely. If your clients receive a letter from the SCDOR or IRS asking them to complete an identity verification quiz, make sure they comply.
Remember, returns are due April 18! We’ll end where we started; the last day to submit returns is April 18. If you have a client who needs to file for an extension, make sure they know that extension is filed automatically as soon as they pay their balance on MyDORWAY. (Once they enter their identification information, they’ll need to choose Extension Payment.) Clients who’ve filed for an extension must submit their returns by October 15.
Make sure you’re getting the SCDOR’s latest updates and tax tips delivered to your inbox. Head to dor.sc.gov/emails to subscribe to our mailing lists. You can also connect with us on Facebook and Twitter to stay up-to-date with the latest news, tax tips, and available resources.
By Elizabeth|2022-02-22T16:01:15-05:00February 22nd, 2022|Tax|Comments Off on Tax season is in full swing! Here are some helpful reminders for tax professionals.