🔍Tax FAQs

1. Do I really need to file taxes if I didn’t make much money?

Yes. If you earned income—even a small amount—you may still need to file. Plus, you might qualify for a refund through credits like the Earned Income Tax Credit (EITC) or American Opportunity Credit.
Helpful resource: irs.gov/credits-deductions

2. What’s the difference between a W-2 and 1099?

A W-2 means you’re an employee—your employer withholds taxes. A 1099 means you're a contractor or self-employed, and you’re responsible for paying taxes on your own.

3. Can I file taxes if I’m self-employed and didn’t receive a 1099?

Yes. Even if you weren’t given a form, the IRS expects you to report all income earned. Keep records of deposits, invoices, or cash received and file using Schedule C.

4. What if I can’t pay my tax bill right away?

Don’t panic- you can still file and request a payment plan. The IRS offers short- and long-term installment agreements to help avoid penalties.
Apply here: irs.gov/payments/online-payment-agreement
Or call the IRS at 800-829-1040.

5. How long does it take to get my tax refund?

If you e-file and use direct deposit, most refunds arrive in less than 21 days. Paper returns or returns with credits (like EITC) may take longer.
Track your refund: irs.gov/refunds

6. What if I get a letter or audit notice from the IRS?

Do not ignore it. IRS notices often just need a simple clarification or document. Read the notice, respond by the deadline, and reach out to PIFF for help if you’re unsure.
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7. Can I still claim my kids if someone else claimed them?

No—only one person can claim a dependent per year. If there’s a conflict, the IRS may reject your return and request proof. Legal custody and support documents will be needed.

8. Do I need to file a separate return for my LLC or Corporation?

Yes, if your business is structured as a C-Corp or S-Corp, you must file Form 1120 or 1120S in addition to your personal return. Single-member LLCs usually file with a Schedule C on your personal taxes.
Helpful resource: irs.gov/businesses

9. Is it better to file early or wait until the deadline?

File early! It reduces the risk of identity theft, gives you more time to prepare if you owe, and typically leads to faster refunds.

10. Can PIFF help me if I’m behind on taxes or haven’t filed in years?

Absolutely. We specialize in helping clients catch up, avoid penalties, and get back in good standing with the IRS. Whether it’s 1 year or 10, we’ve got your back.
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