Individual Tax Return Questionnaire - Stephan P. McMahon & Company Cape Cod

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Step 1 of 6

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Please Complete the Following (even if nothing has changed)

Name*

First Middle Last

Address*

Phone*

Texting Phone (if different)

Preferred Taxpayer Email*

Preferred Spouse Email

Banking Information

Would you like for your tax refund to be direct deposited and for taxes owed to be direct debited?*

Yes

Do we have your banking information on file from a prior year?*

Yes

Yes, but I would like to change my banking information

Please confirm the last four digits of your preferred bank account*

Adding or updating your banking information*

I will include a voided check with my source documents

Has something changed? Let us know!

Things I'd really like my accountant to know

Questions

Please check as appropriate and include all necessary details and documentation. HINT: If you check YES, please provide documentation and/ or tell us more!

Personal Information

Did your marital status change during the year?

Yes

Please explain your marital status*

Did your address change from last year?

Yes

Please explain your address change*

Can you be claimed as a dependent by another taxpayer?

Yes

Did you change any bank accounts, or did routing transit numbers (RTN) and/or bank account number change for existing bank accounts that have been used to direct deposit (or direct debit) funds from (or to) the IRS or other taxing authority to direct deposit (or direct debit) funds from (or to) the IRS or other taxing authority during the tax year?

Yes

Did you receive an Identity Protection PIN (IP PIN) from the IRS or have you been a victim of identity theft? If yes, please include the IRS letter with your source documents.

Yes

Adding your IRS IP PIN Letter*

I will include my IRS IP PIN Letter with my source documents

Did you reside in or operate a business in a Federally declared disaster area? The Federally declared disaster areas include victims of hurricanes, tropical storms, floods, as well as wildfires.

Yes

Personal Information - Additional Comments/Explanations

COVID-19 Information

Did you receive State and/or Local Fiscal Recovery Funds (SLFR) uder a program to support those negatively impacted by the COVID-19 pandemic for helping you with you mortgage insurance and/or home purchases, such as funds to pay some or all of the down payments and closing costs associated with your purchase of a home?

Yes

Did you receive a Paycheck Protection Program (PPP) loan?

Yes

If yes, did you apply for Paycheck Protection Program (PPP) loan forgiveness?*

Yes

Are you a telecommuting employee that was required to "shelter in place" due to local COVID-19 protocols while working in a state that was not your home state?

Yes

Did you receive emergency leave sick pay?

Yes

Did you receive emergency family leave wages?

Yes

Did you receive any special unemployment benefits or compensation under the Coronavirus Relief Act during the year?

Yes

COVID-19 Information - Additional Comments/Explanations

Dependent Information

Were there any changes in dependents from the prior year?

Yes

Please explain your change in dependents*

Do you have dependents who must file a tax return?

Yes

Do you have any children under age 19 or a full-time student under age 24 with unearned income in excess of $2,300?

Yes

Did you provide over half the support for any other person(s) other than your dependent children during the year?

Yes

Did you pay for child care while you worked, looked for work, or while a full-time student?

Yes

Did you pay any expenses related to the adoption of a child during the year?

Yes

Is there any other person(s) who lived with you more than half the year but not claimed by you last year?

Yes

If you are divorced or separated with child(ren), do you have a divorce decree or other form of separation agreement which establishes custodial responsibilities?

Yes

Did any dependents receive an Identity Protection PIN (IP PIN) from the IRS or have they been a victim of identity theft?

Yes

Adding your dependents' IRS IP PIN Letter*

I will include my dependents' IRS IP PIN Letter with my source documents

Dependent Information - Additional Comments/Explanations

Purchase, Sales and Debt Information

Did you start a new business or purchase rental property during the year?

Yes

Please tell us more about your new business or rental property*

Did you sell, exchange, or purchase any assets used in your trade or business?

Yes

Please tell us more about your trade and business asset transactions*

Did you acquire a new or additional interest in a partnership or S corporation?

Yes

Please tell us more about your new S Corp intereste or partnership*

Did you sell, exchange, or purchase any real estate during the year?

Yes

Please tell us more about your real estate transactions*

Did you purchase or sell a principal residence during the year?

Yes

Did you foreclose or abandon a principal residence or real property during the year?

Yes

Did you acquire or dispose of any stock during the year?

Yes

Did you take out a home equity loan this year?

Yes

Did you refinance a principal residence or second home this year?

Yes

Did you sell an existing business, rental, or other property this year?

Yes

Please tell us more about your business or property transactions*

Did you lend money with the understanding of repayment and this year it became totally uncollectable?

Yes

Did you have any debts canceled or forgiven this year, such as a home mortgage or student loan(s)?

Yes

Did you purchase a qualified plug-in electric drive vehicle or qualified fuel cell vehicle this year?

Yes

Adding your proof of purchase of electric or fuel cell vehicle*

I will include my purchase agreement from dealership which shows date of purchase and vehicle identification number (vin) with my source documents

Purchase, Sales and Debt Information - Additional Comments/Explanations

Questions (Continued)

Please check as appropriate and include all necessary details and documentation. HINT: If you check YES, please provide documentation and/ or tell us more!

Income Information

Did you have any foreign income or pay any foreign taxes during the year, directly or indirectly, such as from investment accounts, partnerships or a foreign employer?

Yes

Did you receive any income from property sold prior to this year?

Yes

Did you receive any unemployment benefits during the year?

Yes

Did you receive any disability income during the year?

Yes

Did you receive any Medicaid waiver payments as difficulty of care during the year?

Yes

Did you receive tip income not reported to your employer this year?

Yes

Did any of your life insurance policies mature, or did you surrender any policies?

Yes

Did you receive any awards, prizes, hobby income, gambling or lottery winnings?

Yes

Did you receive any income considered to be nonemployee compensation?

Yes

Did you receive a Form 1099-K, 1099-Misc, 1099-NEC, or other income reporting statement for work performed, or for any other purpose?

Yes

Adding your 1099-K, 1099-Misc, 1099-NEC or other income statement*

I will include my 1099-K, 1099-Misc, 1099-NEC or other income statements in my source documents

Do you expect a large fluctuation in income, deductions, or withholding next year?

Yes

Did you have any sales or other exchanges of digital assets (virtual currencies, crypto, NFTs, etc.), or used virtual currencies to pay for goods or services, or you are holding virtual currencies as an investment?

Yes

Income Information - Additional Comments/Explanations

Retirement Information

Are you an active participant in a pension or retirement plan? Meaning that you contribute through work.

Yes

Did you receive any Social Security benefits during the year?

Yes

Did you make any withdrawals from an IRA, Roth, myRA, Keogh, SIMPLE, SEP, 401(k), or other qualified retirement plan?

Yes

If yes, were any withdrawals due to a Federally declared disaster?*

Yes

If you received any qualified disaster retirement plan distributions, did you repay any of the distributions in 2022?

Yes

Did you receive any lump-sum payments from a pension, profit sharing or 401(k) plan?

Yes

Did you make any contributions to an IRA, Roth, myRA, Keogh, SIMPLE, SEP, 401(k), or other qualified retirement plan?

Yes

Retirement Information - Additional Comments/Explanations

Education Information

Did you, your spouse, or your dependents attend a post-secondary school during the year, or plan to attend one in the coming year?

Yes

Did you have any educational expenses during the year on behalf of yourself, your spouse, or a dependent?

Yes

Adding your Form(s) 1098-T and receipts.*

I will include my Form(s) 1098-T and receipts for qualified tuition and related expenses in my source documents.

Did anyone in your family receive a scholarship of any kind during the year?

Yes

If yes, were any of the scholarship funds used for expenses other than tuition, such as room and board?*

Yes

Did you make any withdrawals from an education savings or 529 Plan account?

Yes

If yes, were any of these withdrawals rolled over into an ABLE (Achieving a Better Life Experience) account?*

Yes

Did you make any contributions to an education savings or 529 Plan account?

Yes

Did you pay any student loan interest this year?

Yes

Did you cash any Series EE or I U.S. Savings bonds issued after 1989?

Yes

Would you like a worksheet to aid in the completion of a Free Application for Federal Student Aid (FAFSA) with the U.S. Department of Education?

Yes

Education Information - Additional Comments/Explanations

Questions (Continued)

Please check as appropriate and include all necessary details and documentation. HINT: If you check YES, please provide documentation and/ or tell us more!

Health Care Information

Did you have qualifying health care coverage, such as employer-sponsored coverage or government- sponsored coverage (i.e. Medicare/Medicaid) for your family? "Your family" for health care coverage refers to you, your spouse if filing jointly, and anyone you can claim as a dependent.

Yes

Adding your Form(s) 1095-B and/or 1095-C*

I will include my Form(s) 1095-B and/or 1095-C in my source documents.

Did you enroll for lower cost Marketplace Coverage through healthcare.gov under the Affordable Care Act?

Yes

Adding your Form(s) 1095-A*

I will include my Form(s) 1095-A in my source documents.

Did you enroll for lower cost Marketplace Coverage through healthcare.gov under the Affordable Care Act and share a policy with anyone who is not included in your family?

Yes

Did you make any contributions to a Health savings account (HSA) or Archer MSA?

Yes

Did you receive any distributions from a Health savings account (HSA), Archer MSA, or Medicare Advantage MSA this year?

Yes

Did you pay long-term care premiums for yourself or your family?

Yes

Did you make any contributions to an ABLE (Achieving a Better Life Experience) account?

Yes

Adding your Form(s) 5498-QA*

I will include my Form(s) 5498-QA in my source documents.

Did you receive any withdrawals from an ABLE (Achieving a Better Life Experience) account?

Yes

Adding Form(s) 1099-QA*

I will include my Form(s) 1099-QA in my source documents.

If you are a business owner, did you pay health insurance premiums for your employees this year?

Yes

Did you receive any Health Coverage Tax Credit (HCTC) advance payments?

Yes

Adding Form(s) 1099-H*

I will include my Form(s) 1099-H in my source documents.

Health Care Information - Additional Comments/Explanations

Itemized Deduction Information

Did you incur a casualty or theft loss or any condemnation awards during the year?

Yes

If yes, did the loss occur in a Federally declared disaster area?*

Yes

Did you pay out-of-pocket medical expenses (Co-pays, prescription drugs, etc.)?

Yes

Did you make any cash or noncash charitable contributions (clothes, furniture, etc.)?

Yes

Adding evidence of charitable contributions*

I will include evidence such as a receipt from the donee organization, a canceled check, or record of payment, to substantiate all contributions made in my source documents.

Did you donate a vehicle or boat during the year?

Yes

Adding Form(s) 1098-C or other proof of donation*

I will include my Form(s) 1098-C or other written acknowledgment from the donee organization of my vehicle/boat donation in my source documents.

Did you pay real estate taxes for your primary home and/or second home?

Yes

Did you pay any mortgage interest on an existing home loan?

Yes

Adding Form(s) 1098*

I will include my Form(s) 1098 in my source documents.

Did you incur interest expenses associated with any investment accounts you held?

Yes

Did you make any major purchases during the year (cars, boats, etc.)?

Yes

Did you make any out-of-state purchases (by telephone, internet, mail, or in person) for which the seller did not collect state sales or use tax?

Yes

Itemized Deduction Information - Additional Comments/Explanations

Miscellaneous Information

Did you make gifts of more than $16,000 to any individual?

Yes

Did you utilize an area of your home for business purposes? (Self-Employed, Gig Economy, etc. only, not for W2 employee)

Yes

Did you engage in any bartering transactions?

Yes

Did you retire or change jobs this year?

Yes

Did you incur moving costs because of a permanent change of station as a member of the Armed Forces on active duty?

Yes

Did you pay any individual as a household employee during the year?

Yes

Did you make energy efficient improvements to your main home this year?

Yes

Did you receive a distribution from, or were you a grantor or transferor for a foreign trust?

Yes

Did you have a financial interest in or signature authority over a financial account such as a bank account, securities account, or brokerage account, located in a foreign country?

Yes

Do you have any foreign financial accounts, foreign financial assets, or hold interest in a foreign entity?

Yes

Did you receive correspondence from the State or the IRS?

Yes

Please explain your correspondence from the State or IRS*

Do you have previous years of tax returns that are either unfiled or filed with unpaid balances due?

Yes

Do you want to designate $3 to the Presidential Election Campaign Fund? If you check yes, it will not change your tax or reduce your refund.

Yes

Miscellaneous Information - Additional Comments/Explanations

Questions (Continued)

Please check as appropriate and include all necessary details and documentation. HINT: If you check YES, please provide documentation and/ or tell us more!

Estimated Tax Payments

Federal Estimates

Did you pay any Federal Income Tax Quarterly Estimated tax payments?

Yes

1st Quarter - Payment Date (Federal)

1st Quarter - Amount Paid (Federal)

2nd Quarter - Payment Date (Federal)

2nd Quarter - Amount Paid (Federal)

3rd Quarter - Payment Date (Federal)

3rd Quarter - Amount Paid (Federal)

4th Quarter - Payment Date (Federal)

4th Quarter - Amount Paid (Federal)

Additional - Payment Date(s) (Federal)

Additional - Amount(s) Paid (Federal)

State Estimates

Did you pay any State Income Tax Quarterly Estimated tax payments?

Yes

1st Quarter - Payment Date (State)

1st Quarter - Amount Paid (State)

2nd Quarter - Payment Date (State)

2nd Quarter - Amount Paid (State)

3rd Quarter - Payment Date (State)

3rd Quarter - Amount Paid (State)

4th Quarter - Payment Date (State)

4th Quarter - Amount Paid (State)

Additional - Payment Date(s) (State)

Additional - Amount(s) Paid (State)

Without positive affirmation from you about your estimated tax payments, we cannot include them as paid in your return. Incorrect estimates claimed are the #1 reason for unnecessary, costly, and frustrating correspondence from the IRS and Commonwealth.

Estimated Tax Payments - Additional Comments/Explanations

Tax Information Checklist – Schedules C & E

If you are filing either a Schedule C (Profit or Loss from Business) or Schedule E for Rental Real Estate, please address and answer the following questions ~ if you're not filing a Sch C or E, please disregard:

Highlights of Tax Law to Prevent Liability

The Internal Revenue Service and the Massachusetts Department of Revenue have increased audits of tax returns which deduct automobile mileage. Most taxpayers do not keep a mileage log and are losing this deduction when audited.

Below are the documents taxing authorities are looking for in an audit (indicate if you have):

1) A log/diary of your business mileage showing the business miles traveled for the year, or in place of a log, a statement indicating the locations, frequency, business purpose and distance to the business sites indicated in the statement.

Yes

2) Two receipts/documents showing mileage at the beginning (first receipt) and at the end (second receipt) of the year for each vehicle used for business purposes. These may be repair or oil change receipts, inspection slips or any other documents indicating mileage.

Yes

How many vehicles will you be claiming deductions for?

In order to deduct automobile expenses on your tax return several questions must be filled in on the tax return. Please supply the following pieces of information in writing for each vehicle:

Total Mileage (Vehicle #1)

Business Mileage (Vehicle #1)

Total Mileage (Vehicle #2)

Business Mileage (Vehicle #2)

Total Mileage (Vehicle #3)

Business Mileage (Vehicle #3)

If applicable, please provide additional vehicle total and business mileage in the Additional Comments/Explanations box below.

Do you have written evidence (mileage log, etc.) to support your deduction(s)?

Yes

Meals & Entertainment

Effective January 1, 2018 as put in place by the “Tax Cuts and Job Acts” Entertainment expense are no longer tax deductible. The Internal Revenue Service requires taxpayers claiming meals as business expenses to maintain a log of the business purpose, the date and the amount (please keep receipts for your records). In order to deduct meals for business expense on your tax return, questions must be filled in on the tax return.

Please supply the following information in writing:

Deductible meals expense from your log

Forms 1099

If you are filing either a Schedule C (Profit or Loss from Business) or Schedule E for Rental Real Estate (Supplemental Income and Loss) then please answer the following questions:

Did you make payments in that would require you to file Form(s) 1099?

Yes

Did you or will you file all required Forms 1099?

Yes

Schedules C & E - Additional Comments/Explanations

Any unanswered question is assumed to be a "No"