Author: Alexis Long

Categories
Cybersecurity

Your Biggest Cybersecurity Risk Might Be on Your Payroll

By Jon Joyner, Cybersecurity Practice Leader and Traci Tyler, HR Advisory Practice Leader

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The Top Line 

While firewalls and threat detection software are essential, technology alone cannot protect your business. For small and midsized businesses, employees are often the weakest link in your cybersecurity posture. Whether it is a misplaced phone, a poorly handled password, or a missed offboarding step, human behavior consistently opens the door to data breaches. 

To build a secure business, leaders must treat cybersecurity as a cultural issue—not just a technical one. 

 

  1. Cybersecurity Is a People Problem

What it means for you:
Most cyber incidents stem from employee actions, not software flaws. Common risks include weak passwords, lost devices, or failing to recognize phishing attempts. Remote work and mobile tools further complicate oversight. 

Strategic takeaway:
Technology policies must be paired with behavior-focused strategies. Cybersecurity begins with employee awareness and accountability. 

 

  1. Training Is Only the Beginning

What it means for you:
One-time training modules are not enough. Without real context or reinforcement, employees may forget policies or disregard them entirely. 

Strategic takeaway:
Make cybersecurity training an ongoing part of the employee experience and enforce expectations through consistent leadership follow-up. 

 

  1. Secure Every Step of the Employment Lifecycle

What it means for you:
Cyber risk starts on day one and lasts until access is fully revoked—often even longer if proper offboarding steps are missed. 

  • Onboarding: Introduce clear acceptable use policies and define access limits. 
  • During employment: Monitor permissions regularly and provide timely risk updates. 
  • Offboarding: Immediately disable all access, especially for personal devices or cloud-based accounts. 

Strategic takeaway:
Build a joint process between HR and IT to manage access from start to finish. 

 

  1. Mobile Devices Are a Major Blind Spot

What it means for you:
Employees commonly access work email or apps from their personal phones, often without safeguards. Without mobile security policies, your data could be exposed with no way to retrieve or remove it. 

Strategic takeaway:
Implement mobile device management (MDM) software to isolate and protect business data on personal phones. 

 

  1. Leadership Sets the Tone for Cybersecurity Culture

What it means for you:
Executives and managers must treat cybersecurity as a business responsibility, not just an IT function. Roles with elevated access—such as payroll, HR, or operations—require regular audits. 

Ask yourself: 

  • Are access levels reviewed regularly? 
  • Are security policies up to date and enforced? 
  • Is accountability tied to employee performance? 

Strategic takeaway:
Leadership must model secure behavior, communicate risks clearly, and make cybersecurity a team-wide priority. 

 

Final Thought 

The strongest technology will still fail without the right human safeguards in place. For businesses looking to grow securely, cybersecurity must be built into every role, every process, and every level of the organization. 

Schedule a Consultation 

ATA’s advisors can help you assess your human risk exposure and implement practical solutions that protect your business from the inside out. Schedule a consultation today to build a more secure culture for your team. 

Categories
General

New Tip and Overtime Reporting Rules for Employers under OBBBA

What Employers Need to Know for Tax Years 2025 through 2028 

By Charles Peery, CPA | Business Tax Practice Leader

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The One Big Beautiful Bill Act (OBBBA) introduces new federal reporting rules for businesses that employ tipped workers or overtime eligible staff. Effective for tax years 2025 through 2028, these changes emphasize wage transparency without drastically altering enforcement or eligibility rules. Instead, employers are expected to meet new documentation standards, especially for tip income and overtime premium pay. This article outlines the key provisions and best practices to help your business stay compliant and prepared. 

 

  1. Annual Tip Reporting Requirements

The OBBBA enhances annual wage reporting required for tipped employees but does not mandate real time or per pay period submissions. 

Key changes include: 

  • Employers must report the total qualified tips received by each employee on Form W-2, along with their qualifying occupation. 
  • Qualified tip income includes cash tips, credit card tips, and pooled tips that are voluntary and customary. 
  • Mandatory gratuities and service charges are not included. 
  • The existing rule that employees must report all tips to employers by the tenth of the following month remains in place. 
  • No changes were made to existing federal rules on tip pooling. 
  • A new deduction allows employees to exclude up to 25,000 dollars of qualified tip income annually. The deduction begins to phaseout once modified adjusted gross income exceeds 150,000 dollars for single filers and 300,000 dollars for joint filers. 
  • Workers may claim the deduction regardless of whether they itemize deductions or claim the standard deduction.  

Strategic takeaway: Ensure your payroll system supports detailed end of year tip tracking and that your employees understand their responsibilities. 

  1. Best Practices for Verifying Tip Income
  • Keep detailed records: Encourage employees to log tips daily and keep employer copies of all reports for at least four years after the tax deadline. 
  • Participate in IRS tip agreements: Consider agreements such as TRDA, TRAC, or GITCA for added compliance support. 
  • Train employees: Provide training on tip policies and include written guidance in your employee handbook. 
  • Use technology: Electronic tracking tools can help automate reporting and provide tax summaries for employees. 

 

  1. Overtime Reporting for a New Deduction

Although the OBBBA does not change who qualifies for overtime under federal law, it does introduce a new deduction for the premium portion of qualified overtime pay. 

Key provisions include: 

  • Only the additional half time pay required by federal law qualifies. 
  • State mandated or contract-based overtime does not qualify. 
  • Employers must report qualified overtime premium pay separately on Form W-2. 
  • Employees can deduct up to $12,500 individually or $25,000 jointly. The deduction phases out for single filers with MAGI over $150,000 and joint filers with MAGI over $300,000. 
  • The overtime deduction is available to both itemizers and nonitemizers.   
  • No additional enforcement, attestation, or documentation mandates have been introduced. 

Strategic takeaway: Your payroll system must be able to isolate and report the qualifying overtime premium amounts accurately. 

  1. Best Practices for Overtime Pay Documentation
  • Implement reliable time tracking: Use time clocks or software that accurately captures hours, breaks, and overtime. 
  • Separate overtime premium pay: Payroll systems should be configured to track the extra half time pay separately for reporting. 
  • Retain supporting documents: Maintain records of timecards, payroll reports, and communication regarding compliance. Assign responsibilities clearly between departments to improve oversight. 
  1. IRS Compliance and Internal Controls

Participating in IRS tip programs like TRDA, TRAC, or GITCA can reduce audit risk and help demonstrate good faith compliance. Employers in these programs are required to submit annual reports on tip income and hours worked. 

Strategic takeaway: Establish strong internal controls and update your policies and procedures to align with OBBBA standards. 

Schedule a Consultation 

Now is the time to assess your payroll systems and reporting practices. Schedule a consultation with your ATA advisor to prepare for the 2025 reporting season and reduce the risk of penalties. Our team can help you stay compliant and confident under the new law. 

Categories
General

Why a Mid-Year Check-In with Your Accountant Matters

By Mark Puckett , CPA | Tax Principal 

The halfway point of the year isn’t just a time to reflect, it’s a smart opportunity to reset. A mid-year check-in with your accountant helps you evaluate progress, respond to changes, and strategically plan for what’s ahead. Whether you’re an individual, a business owner, or a nonprofit leader, this proactive step can prevent surprises and position you for a strong year-end finish. 

Get Ahead of Potential Issues 

Waiting until year-end to discover financial gaps or tax surprises can leave you with limited options. Meeting with your accountant now gives you time to address concerns while there’s still room to act. Common topics include tax estimates, income or deduction changes, cash flow shifts, and budget variances. Catching these early allows for more flexibility and peace of mind heading into Q4. 

Make the Most of Tax Strategies 

Tax laws continue to evolve, and the earlier you plan, the better your chances of maximizing savings. Your accountant  can help you assess the potential impact of new tax law changes on your specific situation. By working together to discuss your ongoing plans, you have a much better opportunity to take advantage of the tax laws. With half the year behind you, projections based on real numbers make your decisions smarter and more impactful. 

Check In on Business Health 

For business owners, a mid-year financial review is essential. Your accountant can analyze your year-to-date numbers, compare them to forecasts, and evaluate performance indicators such as margins, expenses, and cash flow. These insights can guide decisions around pricing, hiring, capital purchases, and goal setting for the remainder of the year. 

Stay Aligned and Compliant 

This check-in also ensures you’re staying on top of compliance, whether it’s sales tax filings, payroll reports, or estimated payments. Nonprofits can use this time to review grant tracking, audit readiness, and mission alignment. Individuals may want to discuss life events like a marriage, new child, or property purchase that could affect their tax picture.  

Be Proactive 

A mid-year conversation with your accountant is more than a check-in, it’s a strategic move to stay informed, adaptable, and confident. Don’t wait for year-end stress. Reach out to your ATA advisor today and make sure you’re on track to finish the year strong. 

Categories
Helpful Articles IT Services

Think Before You Pay: Cyber Fraud Is Evolving

By Jon Joyner, Cybersecurity Practice Leader  

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Fraudulent Activity Is on the Rise
Every day, criminals use increasingly sophisticated tactics like email scams, social engineering, and mail fraud to trick businesses into giving up sensitive information or wiring funds to illegitimate accounts. One wrong click or rushed decision can lead to devastating financial loss. Always pause, verify, and err on the side of caution. 

The best defense against fraud is a well-informed team and a consistent, cautious approach. Fraudsters often create a sense of urgency to pressure quick action. By building strong internal controls and training your staff to follow simple but effective verification steps, you can significantly reduce your risk and prevent costly mistakes. 

Fraud Prevention Checklist 

  • Hang up and verify
    If someone claiming to be from your financial institution asks for password resets or codes, hang up and call the main line to confirm their identity.
  • Confirm names independently
    If given a contact name, call the financial institution’s main number and ask for that person directly.
  • Use Positive Pay
    Confirm checks are being paid to the correct entity. This tool adds a layer of security.
  • Implement internal procedures
    Establish clear policies on who signs off on payments and how many bank transfers can occur in a day.
  • Train employees to recognize red flags
    Regularly educate staff on the signs of phishing emails, spoofed domains, urgent financial requests, and suspicious links or attachments.
  • Establish a multi-step verification process for all fund transfers
    Require verbal confirmation from a known contact and a second approver before completing any financial transaction.
  • Limit access to sensitive information
    Only allow employees who need it to access payment systems, vendor data, or financial accounts.
  • Review email addresses and URLs carefully
    Train staff to look closely at sender details—fraudsters often use addresses that mimic legitimate contacts with subtle changes.
  • Use secure channels for sensitive communications
    Avoid sharing login credentials, passwords, or financial information over email. Use encrypted platforms or verified portals.

Trusted Guidance in Critical Moments
ATA’s team includes Certified Fraud Examiners, cybersecurity experts, and a dedicated fraud and litigation practice. If your business becomes a target or falls victim to fraud, we will help you navigate the next steps with speed and clarity. Schedule a consultation with our Cybersecurity Practice Leader, Jon Joyner, to discuss your risk and response plan. 

 

Categories
Tax

Key Tax Law Changes Impacting Individuals and Families

By Elizabeth Russell Owen, CPA | Private Client Tax Services Practice Leader  

The One Big Beautiful Bill Act (OBBBA) maintains existing provisions from current law and introduces new benefits for individuals and families, which include:  

Extend current tax rates: The bill generally makes the current tax rates enacted in 2017 in the Tax Cuts and Jobs Act (TCJA) permanent (adjusted for inflation). 

Standard deduction: The bill permanently increases the standard deduction amounts established by the TCJA. Starting in 2025, the standard deduction will be $15,750 for single filers, $23,625 for heads of household, and $31,500 for married couples filing jointly. These amounts will be adjusted for inflation in subsequent years.  

Deduction for State & Local Taxes is increased: The bill temporarily increases the limit on the federal itemized deduction for state and local taxes to $40,000 ($20,000 for married filing separately). In 2026, the deduction limit will increase to $40,400, and will then increase by 1% annually, through 2029. Starting in 2030, the deduction will revert to the previous $10,000 limit.  

The state and local tax deduction begins to phase out for filers with modified adjusted gross income exceeding $500,000 ($250,000 for married filing separately).  

Personal exemptions gone but new senior deduction added: The legislation permanently eliminates the deduction for personal exemptions. However, it introduces a temporary $6,000 deduction for individual taxpayers age 65 or older. The new senior deduction targets social security eligible individuals and is intended to offset income taxes on their social security benefits. The senior deduction begins to phase out when a taxpayer’s modified adjusted gross income exceeds $75,000 ($150,000 for joint filers). The senior deduction will be in effect from 2025 through 2028. 

Child tax credit increased: The legislation raises the nonrefundable child tax credit to $2,200 per child starting in 2025 and adjusts this amount for inflation. It also makes the $1,400 refundable child tax credit permanent, with adjustments for inflation. Additionally, the bill permanently sets the increased income phaseout thresholds at $200,000 ($400,000 for joint filers) and maintains the $500 nonrefundable credit for each dependent other than a qualifying child. 

Qualified Business Income deduction made permanent: The bill makes the Sec. 199A qualified business income (QBI) deduction permanent, maintaining the deduction rate at 20%.   

Larger estate and gift tax exemption: The amount an individual can give away during their lifetime without paying federal estate or gift taxes (the lifetime exemption) was permanently increased to $15 million (adjusted for inflation) beginning in 2026. Note however, for the tax year 2025, individuals have an annual gift tax exclusion of $19,000 per donee that they can use without impacting their lifetime exemption.    

New deduction for certain tips and overtime pay: Employees may now deduct certain tips and overtime pay from their federal taxable income. These deductions phase out for higher income individuals. Employers will need to review their payroll system reporting to accurately identify the qualifying amounts paid to their employees.  

We’re Here to Help 

The entire OBBBA exceeds 900 pages in length and contains many complexities. Accordingly, please reach out to your ATA advisor to obtain further details and address your questions.  

Categories
Tax

Key Tax Law Changes Impacting Businesses

By Mark Puckett, CPA | Tax Principal 

Most business owners were concerned about the impending expiration of the business-friendly provisions of the Tax Cuts and Jobs Act enacted in 2017 that were set to expire at the end of this year. The One Big Beautiful Bill Act (OBBBA) extends those business-friendly items and adds some new ones as well. The key highlights of the business-related provisions included in the legislation follow: 

Qualified Business Income deduction made permanent: The legislation makes the Sec. 199A qualified business income (QBI) deduction permanent, maintaining the deduction rate at 20%.   

Bonus depreciation: The legislation makes the Sec. 168 additional first-year (bonus) depreciation deduction permanent. It increases the allowance to 100% for property acquired and placed into service on or after January 19th, 2025. 

Limit for Sec. 179 asset expensing increased: The legislation raises the maximum amount the taxpayer may elect to expense under Sec. 179 to $2.5 million. The deduction limit is reduced when the cost of qualifying asset additions exceeds $4 million. 

Research-and-development expenses: The legislation restores the deduction for domestic research and development expenditures paid or incurred in tax years starting after December 31, 2024. Note however, smaller businesses (those with average annual gross receipts of $31 million or less) are permitted to apply this change retroactively to tax years beginning after December 31, 2021.  

Limitation on business interest is relaxed: For tax years beginning after December 31, 2024, the legislation allows the interest expense deduction to be computed without regard to the deductions for depreciation, amortization, or depletion. Essentially, this change restores the prior EBITDA limitation.  

Special depreciation deductions allowed for qualified production property: The legislation permits a first-year depreciation deduction equal to 100% of the adjusted basis of “qualified production property.” Qualified production property is nonresidential real property used in manufacturing. 

Tax break for “small business” investors made more generous: The new law expands which businesses qualify and how much gain can be excluded when selling qualified small business stock. 

We’re Here to Help 

The entire OBBBA exceeds 900 pages in length and contains many complexities. There may be other beneficial provisions in the new law that may save taxes on your business income. Accordingly, please reach out to your ATA advisor to obtain further details and address your questions. 

Categories
General

Creating a Meaningful Employee Benefits Package for Your Team

By Gabrielle Lorbiecki, CPA, CPC, QKC, QPA, QKA 

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The Top Line 

In today’s competitive job market, a strong employee benefits package is essential for attracting and retaining top talent. While salary plays a critical role, benefits significantly influence employee satisfaction, engagement, and long-term loyalty. 

Developing an effective benefits plan is not a one size fits all process. It requires a thoughtful approach that reflects both the needs of your workforce and the goals of your business. Below are key strategies to help you create a benefits package that delivers real value for your team. 

 

  1. Understand Your Workforce

What it means for your business:
Start by learning what matters most to your employees. A younger team may value student loan repayment or flexible work schedules. More experienced employees might prioritize health insurance, retirement savings, or long-term care support. 

Strategic takeaway:
Use surveys or focus groups to tailor your offerings. Personalizing benefits to your team’s needs improves participation and ensures your investment is going where it matters most. 

 

  1. Align Benefits with Business Goals

What it means for your business:
Your benefits strategy should support your company’s long-term vision. For example, if employee retention is a challenge, consider incentives like profit sharing or enhanced retirement contributions. If you are focused on boosting productivity, wellness programs or mental health services can make a measurable difference. 

Strategic takeaway:
Choose benefits that reinforce your culture and support your workforce strategy. 

 

  1. Balance Cost and Value

What it means for your business:
Benefits are a major investment. Compare plan options and providers carefully to strike the right balance between cost and quality. For example, pairing a high deductible health plan with a Health Savings Account can reduce costs while still offering valuable coverage. 

Strategic takeaway:
Use data and employee feedback to invest in benefits that deliver both value and sustainability. 

 

  1. Comply with Legal Requirements

What it means for your business:
Federal and state regulations govern many aspects of employee benefits. Rules from the Affordable Care Act, ERISA, FMLA, and others must be followed to avoid fines and legal complications. 

Strategic takeaway:
Work with an HR advisor or benefits consultant to ensure your offerings meet all legal standards. Staying compliant protects your business and builds employee trust. 

 

  1. Communicate Clearly and Consistently

What it means for your business:
Even the most robust benefits package has little impact if employees do not understand how to use it. Clear communication improves participation and helps employees recognize the true value of their benefits. 

Strategic takeaway:
Use handbooks, info sessions, and digital portals to ensure employees stay informed and engaged year round. 

 

  1. Plan for Future Growth

What it means for your business:
As your business grows, your benefits should evolve with it. Choose providers and platforms that are built to scale and can accommodate additional offerings as your needs expand. 

Strategic takeaway:
Build flexibility into your benefits structure so you can adapt without disruption. 

 

  1. Review and Update Regularly

What it means for your business:
Employee expectations and market standards shift over time. Regular reviews help you stay current and competitive. 

Strategic takeaway:
Reevaluate your plan annually. Gather employee feedback, benchmark against peers, and adjust offerings to maintain relevance and compliance. 

 

Schedule a Consultation 

Navigating retirement plan compliance is complex. Whether you need support with annual filings like Form 5500, plan testing, or simply want expert guidance, Gabrielle Lorbiecki is here to help. 

Gabrielle specializes in retirement plan consulting and ensures that businesses remain compliant with Department of Labor and IRS regulations. 

Contact Gabrielle today to schedule a personalized consultation and set your retirement plan on the path to long-term success. 

Categories
IT Services

Tech Planning and Budgeting with a Virtual CIO: A Winning Strategy for Growth

By Michael Laffoon | Managed IT Services Practice Leader

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The Top Line 

Technology decisions can make or break a business. Without a clear plan, they often become guesswork. Many small and midsized companies either spend too much on the wrong tools or invest too little in systems that could drive real growth. 

A strategic technology plan combined with expert guidance from a virtual Chief Information Officer (vCIO) ensures every IT decision supports your long-term business goals. From setting priorities to managing budgets, a vCIO helps your business stay focused, adaptable, and competitive. 

 

  1. Build a Strong Tech Foundation with a Strategic Plan

What it means for your business: 

  • A smart technology strategy starts with a full assessment of your current systems. Identify what is working, what is outdated, and what is underused. 
  • Align technology decisions with business goals such as expansion, efficiency, or security. 
  • Define success metrics and revisit your plan regularly to stay on track. 

Strategic takeaway:
Treat your technology plan as a flexible roadmap that grows and evolves with your business. 

 

  1. Tech Budgeting That Actually Works

What it means for your business: 

  • Planning ahead and prioritizing areas where technology brings the most value helps turn your IT budget into a growth driver. 
  • Ask for employee input to uncover day-to-day tech challenges. 
  • Lay out a clear timeline for system improvements and updates. 

Strategic takeaway:
A proactive budget improves decision-making, increases efficiency, and helps ensure better return on every technology investment. 

 

  1. Do Not Overlook the Essentials in Your Budget

What it means for your business:
A good technology budget should prepare you for more than just routine expenses. Be sure to include: 

  • Regular maintenance and technical support 
  • System upgrades and hardware replacements 
  • Renewals for software, licenses, and warranties 
  • Contingency funds for emergencies like cybersecurity events or outages 

Strategic takeaway:
Budgeting for both expected and unexpected costs keeps your business protected and financially prepared. 

 

  1. Why a vCIO Is a Smart Move for Growing Companies

What it means for your business:
Hiring a full-time Chief Information Officer may not be practical, but a vCIO provides the same strategic value at a lower cost. A vCIO can: 

  • Align your IT strategy with business objectives 
  • Develop and manage your technology budget 
  • Lead vendor selection and contract negotiations 
  • Strengthen your cybersecurity plan 
  • Create continuity and disaster recovery strategies 

Strategic takeaway:
A vCIO adds leadership and expertise to your technology decisions without expanding your executive team. 

 

  1. Take Control of Your Technology Future

What it means for your business:
With the right partner and a solid strategy, technology becomes a foundation for growth rather than a challenge to manage. 

Strategic takeaway:
A strategic vCIO relationship allows your business to stay ahead, make smarter investments, and grow with confidence. 

 

Let’s Build Your Tech Strategy Together 

Ready to rethink how your business plans and budgets for technology? ATA’s vCIO and strategic IT planning services are here to help. 

Contact us today to schedule a consultation: https://ata.net/contact-us/ 

Categories
Tax

It’s Wedding Season: Say ‘I Do’ to This Tax Checklist

By Elizabeth Russell Owen CPA | Private Client Tax Services Practice Leader 

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The Top Line 

Wedding season is a time for celebration, but it also marks a new chapter in your financial life. Along with shared responsibilities and future planning, marriage brings several important tax considerations that newlyweds should not overlook. 

Whether you are still enjoying your honeymoon or diving into name change paperwork, now is the perfect time to update your tax situation and avoid surprises next spring. Here are four key steps every newly married couple should take. 

 

  1. Report Any Name Changes

What it means for you:
If either spouse changed their last name, you must update that information with the Social Security Administration. If your tax return name does not match the name on file, your refund could be delayed. 

To update your name, file Form SS5, Application for a Social Security Card. You can complete this through SSA.gov, by calling 800 772 1213, or by visiting a local Social Security office. 

Takeaway:
Make the update as soon as possible to avoid errors when filing your return. 

 

  1. Update Your Address with the Right Agencies

What it means for you:
If you moved after getting married, inform the IRS, your employer, and the postal service to ensure timely delivery of important tax documents. 

To notify the IRS directly, complete and submit Form 8822, Change of Address. Instructions for filing are included on page two of the form. 

Takeaway:
Keeping your address current helps ensure W-2s, IRS letters, and refunds reach you without delay. 

 

  1. Check and Adjust Your Withholding

What it means for you:
Marriage may place you in a different tax bracket. If both spouses work, the change could lead to a higher combined income and affect your tax liability. 

Submit a new Form W4 to your employer within ten days of getting married. Use the IRS Tax Withholding Estimator online to make sure your new withholding is accurate and helps avoid tax season surprises. 

Takeaway:
This quick step can prevent underpayment penalties and reduce stress at tax time. 

 

  1. Choose the Right Filing Status

What it means for you:
Your marital status as of December 31 determines your filing status for the entire tax year. Couples may choose to file jointly or separately. 

Filing jointly often results in better tax benefits, but depending on income and deductions, filing separately may be more advantageous. Use a comparison calculator or consult a tax advisor to explore both options. 

Takeaway:
A thoughtful filing decision can result in significant savings or better refund outcomes. 

 

Why This Matters to You 

Marriage is an exciting life change, and getting your taxes in order now can help you start this chapter with financial clarity and confidence. By updating records and understanding how your new status affects your taxes, you can avoid delays, penalties, or missed savings. 

 

Resources for More Information 

  • IRS Topic 157: Change Your Address 
  • IRS Publication 505: Tax Withholding and Estimated Tax 

Questions about your new tax situation? Contact our team for personalized guidance. We are here to help you start your financial journey on the right foot.

Congratulations to all the newlyweds celebrating this wedding season; best wishes for a successful marriage and a prosperous financial future! 

 

Categories
Helpful Articles Paris, TN Tax

Still Have Tax Questions? You’re Not Alone 

By Elizabeth Russell Owen, CPA | Private Client Tax Services Practice Leader  

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Executive Summary 

Even after filing a federal income tax return, many individuals still face important follow-up items. From tracking refunds, organizing records, and responding to IRS correspondence, this article outlines five post-filing priorities to help you stay organized, informed, and prepared. Our team remains available year-round to support you beyond tax season. 

Key Highlights 

  • Track Your Refund: Use the IRS “Where’s My Refund?” tool with your Social Security number, filing status, and exact refund amount. 
  • Record Retention: Keep supporting tax documents for at least six years; some should be stored indefinitely. Use cloud storage to back up essential files. 
  • Amendment Window: Did you miss any deductions or credits? File Form 1040-X within three years of filing or two years of payment to receive a refund. 

Even after submitting your federal return, there are often a few loose ends to tie up. Below are some of the top things our clients ask about and what to do next. 

  1. Wondering when your refund will arrive?

Use the IRS’s “Where’s My Refund?” tool at IRS.gov to track the status. Have the following ready: 

  • Your Social Security number 
  • Filing status 
  • Exact refund amount 

Once submitted, the tracker will show whether your refund has been received, approved, or issued. 

  1. How long should you hold on to tax records?

At a minimum, keep records associated with your tax return for as long as the IRS has the authority to audit or assess additional taxes. In most cases, this period is known as the statute of limitations, which is three years from the date you filed your return. That means you can typically remove most supporting documentation related to 2021 and earlier years, unless you filed late or with an extension (if you filed an extended 2021 return, wait at least three years from the filing date before removing records). 

However, that time frame can extend to six years if more than 25% of your gross income was omitted from a return. In rare cases, such as failing to file a return or filing a fraudulent one, the IRS has no time limit to act. Hence, keeping supporting tax return documents for at least six years is recommended.  

Certain records should be kept longer: 

  • Keep all filed tax returns indefinitely to confirm your filing history. 
  • Upload older records to secure cloud storage before discarding physical files, ensuring you maintain access if needed later. This approach helps reduce clutter while preserving key documents in case of a future inquiry. 
  • Other types of documents should be kept longer or permanently in some cases. Examples include but are not limited to business and payroll documentation, estate and trust records, and property basis support. Consult with an ATA professional for details. 
  1. Think you missed a deduction or credit?

You may still be eligible for a refund by filing an amended return (Form 1040-X). In most cases, you have: 

  • Three years from the original filing date, or 
  • Two years from the date you paid the tax — whichever is later 

In limited situations, additional time may be available, such as up to seven years to claim a bad debt deduction. 

While the IRS has time limits for assessment of additional taxes, if income was omitted or understated, the IRS will usually accept an amended return past the three-year window if the amendment results in a balance due. It is best to file the amended return as soon as the discrepancy is discovered to minimize interest and penalties.  

  1. Received a notice from the IRS?

If the IRS needs additional information or adjusts your return, you’ll be contacted by mail only. Be aware: the IRS will never call, text, or email you to discuss your return. If you receive a letter from the IRS, reach out to us, and we’ll help you review the notice and respond appropriately.

  1. Moved recently? Don’t forget to update your address.

To avoid missing important IRS correspondence, complete Form 8822 to officially report a change of address. 

We’re Here for You Year-Round 

Tax questions don’t stop after April 15 and neither do we. Whether you’re facing a notice, amending a return, or preparing for next year, our team is here to help every step of the way. 

Need More Help? Contact your ATA tax advisor today.