Frequently asked questions, do not hesitate to contact our direct line 301-232-5300

Below you will find by sections, the answers to the most common questions that the citizens and the community have about the services we offer in Xpresstaxes, regarding the procedures and services of Tax & accounting

How long will it take for me to get my refund after my taxes are submitted?

Processing times vary; but if everything was filed correctly, you can expect your refund via direct deposit in approximately 15-21 days after filing. If you opted to receive a check, you should receive it in approximately 28-35 days after filing. HOWEVER, new regulations have delayed tax refunds for taxpayers claiming children under 17. The PATH Act forced IRS to hold federal refunds for persons claiming children under 17 years old starting February 27th.

What documents do I need to bring for my first appointment?

You need to bring a valid photo ID (and spouse), social security cards for you, spouse (if married), and dependents (if any), a copy of your most recent filed tax return, and all forms pertaining to the tax year being filed. For a complete list of forms that may apply to you click here.

Can you prepare any other (than Maryland) state returns?

Yes, we can prepare any state return, including Puerto Rico 1040PR.

How long can I claim my children as dependent(s)?

To claim your child as a dependent, he/she must be younger than you and either younger than 19, or 24 if they are in college/university. If your child is permanently disabled there is no age limit to claim them. In addition, you can claim a person in your return (and possibly get higher tax credits) if they meet the qualifying child or the qualifying relative/dependent test:

 

Qualifying Child Qualifying Relative/Dependent
Relationship Must be blood related Relationship Must be blood related, have lived with you all year long, or be your stepchild, foster child, or descendent of any of them.
Age Must be under 16 years old Age No age limit
Residence Must have lived with you for 6 months Residence Must have lived with you ALL year unless stepchild, foster child, or descendent of any of them.
Support Must have provided more than 50% of expenses for the child Support Dependent cannot have gross income over $4,050

If you’re still unsure use this IRS tool to see if you can claim this person (ponemos este link

https://apps.irs.gov/app/IPAR/investigate/IPAR_1/en-US/Attribute~Dependents~global~global/qs%24s1%40TLC_Dependents_Development_Screens_DEPLanding_xint%24global%24global?user=guest)

How will the new Tax Cuts and Jobs Act (tax reform) affect me?

A lot of tax items have changed under the new tax code. Here’s a list of the most important changes:

Item affected Previous Tax Code New Tax Code
Standard Deductions Married Filing Jointly/Surviving spouse: $12,600

Single/MFS: $6,300

Head of Household: $9,350

Married Filing Jointly/Surviving spouse: $24,000

Single/MFS: $12,000

Head of Household: $18,000

Personal Exemptions $4,050 per person Repealed/Eliminated
Maximum Tax Rate 39.6% 37%
Child Tax Credit $1,000 per qualifying child $2,000 per qualifying child
Educator Expenses Up to $250 Repealed/Eliminated
Moving Expenses Deductible if moving was due to job relocation over 50 miles Repealed/Eliminated. Only available to members of the Armed forces

                Give us a call for a more personalized explanation of how the new reform will affect you

Services

Accounting

We provide off-site monthly bookkeeping services using the most recent and innovative software available… Read More

Payroll

We provide in-house payroll services using the most innovative and enhanced software version of Quick Books. Read More

Taxes

Through our experience and knowledge, we will prepare your personal or business tax returns in a timely manner… Read More

About

We are a prominent firm in the DC metro area focused on tax and accounting solutions to individuals and businesses.

Give us a call to find out why we are the Tax & Accounting Firm you have been looking for all this time.

Call Us