March, 2021
Tax & Accounting Solutions LLC (505) 984-0646
Longer Days Ahead

Daylight Savings Time starts this month — just one of many changes we can expect as the northern hemisphere heads into Spring.

Tax changes are also aloft. We have fully reviewed tax code modifications implemented by the U.S. Congress in response to the pandemic, and we are ready to help you with your 2020 tax return. Without the extension that was given to everyone last year due to COVID-19, tax returns will be filed on April 15, less than seven weeks from now.

A reminder: Our practices are impacted by state pandemic health orders, and we are encouraging the digital transmission of files as much as possible. If you still need to set up your secure Sharefile access point, please email us here.

DO NOT email your tax documents to us through regular email. This method is not secure and can put your information at risk. If you prefer to drop off your documents, please call to make an appointment, as our office is only open by appointment.

We look forward to serving you.
Did You Receive ALL of Your Tax Documents?
By now, taxpayers should have received W-2 wage statements from employers and 1099 forms from any organization that paid them, including government payments of unemployment benefits. In addition to checking that everything has been received, taxpayers should confirm that the amounts are correct.

Where is That Stimulus Check?
According to the U.S. Treasury, everyone who is eligible to receive a Federal stimulus check should have received it by now. If you didn't receive a payment that was due, or if you believe the amount is incorrect, you may be able to claim a Recovery Rebate Credit on your 2020 tax return.

Considering the PPP? Small Businesses Get Preference Until March 9

The U.S. Small Business Administration is promoting equitable COVID business relief for America's mom-and-pop businesses by establishing an exclusive PPP loan application period for organizations with fewer than 20 employees. The application set-aside also applies to sole proprietors, independent contractors, self-employed individuals, and nonprofit organizations.


Mar. 15
S Corp: File Form 1120S for calendar year and pay any tax due. Furnish copy Sch. K-1 to each shareholder.

Partnerships: File Form 1065 for calendar year and furnish copy of Sch. K-1 to each partner.

Partnerships: File Form 8804 and Form 8805 for a calendar year entity.
We're here to help. Call if you would like assistance filing reports or preparing your documents.