Your Partner In Tax Success
Tax Resources
Navigating tax season can be overwhelming, but with Blue Sky Finance, you’re never alone. Our experienced team of Tax Advisors, Finance Experts, Attorneys, and IRS-Enrolled Agents is dedicated to making your tax preparation and filing process smooth and stress-free. With a deep understanding of tax regulations and financial strategies, we provide the expertise you need to maximize benefits and stay compliant.
Quick Access to Essential Tax Resources:
Our Specialized Tax Services:
Audit Protection: Gain confidence knowing our experts will defend and guide you through any IRS audits. ERC Assistance: We help you secure the Employee Retention Credit (ERC) efficiently and accurately. Customized Tax Filing: Our precision-focused approach ensures your tax returns are filed correctly while maximizing potential refunds. Tax Amendments: Need to correct past filings? We handle amendments with accuracy and care. IRS & Tax Code Expertise: From decoding complex tax laws to IRS compliance, our team ensures you stay ahead of any regulatory changes.
At Blue Sky Finance, we simplify tax complexities so you can focus on what matters most—your financial success. Let us handle the details while you enjoy peace of mind.
Your IRS & State Filing Partner
Tax Return Simplified
At Blue Sky Finance, we understand that tax filing can feel overwhelming, but we’re here to simplify the process. Whether you’re filing a federal or state return, our experts ensure accuracy, compliance, and peace of mind.
Filing Methods: Which One is Right for You?
📄 Traditional Paper Filing: While e-filing is becoming the standard, paper filing is still an option for those who prefer it. At Blue Sky Finance, we provide complimentary electronic filing for all tax preparation clients. If you have a self-prepared return or one completed by another provider, we can e-file it for you for a small fee.
💻 The Shift to E-Filing: Electronic filing (e-file) is the fastest and most efficient way to submit your tax return. It ensures timely processing, faster refunds, and added security. To e-file successfully, each taxpayer listed must have a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
Important Tax Deadlines to Keep in Mind
🗓️ April 15 – The standard deadline for most taxpayers to file their returns.
🗓️ October 15 – If you’ve filed for an extension, this is your final deadline to submit your return.
Mailing Guidelines for Paper Filings
If you choose to mail your tax return, ensure it is postmarked by the deadline. We recommend using certified or registered mail for proof of submission. The IRS also recognizes private delivery services such as:
🚚 FedEx – Options include FedEx First Overnight, FedEx Priority Overnight, and FedEx 2Day.
📦 UPS – Services such as UPS Next Day Air and UPS 2nd Day Air provide secure delivery.
✈️ DHL – Includes options like DHL Express 9:00 and DHL Import Express Worldwide.
When using an IRS-approved private courier, the official postmark date is determined by the courier’s timestamp. Always confirm the delivery date with your chosen provider.
E-Filing and Submission Timing
When e-filing, the electronic timestamp is key. A return is considered on time if it is electronically submitted before midnight on the deadline day. This ensures accurate tracking and confirmation of receipt.
Avoiding Late Fees & Penalties
Failure to file on time can result in penalties and accrued interest. To avoid unnecessary fees:
✔️ Consider filing an extension by April 15 if you need more time.
✔️ If you are expecting a refund, file within three years of the due date to claim it.
Making Corrections: How to Amend a Tax Return
Mistakes happen, and tax returns can be amended. If you realize an error, file Form 1040X to make corrections. Typically, amendments must be submitted within three years from the original filing date or two years after the tax payment date.
For example, imagine John files his tax return in early February but later finds an overlooked Form W-2. Since his original Form 1040 has already been submitted, John will need to file Form 1040X to adjust his income details.
At Blue Sky Finance, we’re committed to ensuring your tax returns are handled efficiently, accurately, and with minimal stress. Let us help you navigate tax season with confidence!
Extending Your Tax Deadline
Need More Time?
Life is unpredictable, and sometimes meeting the tax filing deadline isn’t possible. If you need extra time, the IRS allows you to file an extension, pushing your due date to October 15. However, it’s crucial to remember that any taxes owed must still be paid by April 15 to avoid penalties or interest charges.
To secure a six-month extension, simply submit Form 4868 before the original deadline. If you anticipate owing taxes, include a payment with your form to prevent any additional fees.
Example Scenario:
Mark and Lisa are in the middle of major home repairs after a severe storm. With some financial documents missing, they decide to file Form 4868 to extend their deadline. They estimate their tax liability and submit the amount due to avoid penalties.
Setting Up A Tax Payment Plan
If you owe taxes but can’t pay the full amount by April 15, you may qualify for an IRS installment plan. Using Form 9465, you can apply for a structured payment arrangement. Keep in mind:
Approval includes fees and interest on the balance owed. Exploring other options, such as personal or bank loans, may be more cost-effective.
At Blue Sky Finance, we help you navigate complex tax situations with confidence. Whether you need assistance with estimated payments, filing deadlines, or setting up an installment plan, our team is here to ensure you stay on track and avoid unnecessary penalties.
How To Avoid Tax Penalties
If you don’t pay enough taxes throughout the year—either through paycheck withholdings or estimated tax payments—you could face underpayment penalties. These typically apply if your unpaid balance exceeds $1,000 at tax time.
To steer clear of these penalties, aim to:
✔️ Pay at least 90% of your current year’s tax bill OR
✔️ Pay 100% of last year’s tax (110% for higher-income earners).
Good news: If you owed nothing on last year’s return, you won’t be hit with penalties this year, regardless of how much you owe.
Keeping Tax Records
Holding onto your tax records isn’t just smart—it can save you time and stress if the IRS ever requests information. Blue Sky Finance recommends keeping your tax returns and related documents for at least three years.
Need an old return? The IRS provides copies upon request. If you ever require a duplicate, Form 4506 is your go-to document.
Getting Copies of Past Tax Returns
Applying for a mortgage or loan? Lenders may request previous tax returns as part of the approval process. If you don’t have copies on hand, simply submit Form 4506 to the IRS. Keep in mind:
📌 A processing fee applies.
📌 It may take up to 60 days to receive your documents.
At Blue Sky Finance, we help you stay organized and ensure you’re always prepared for tax season. Whether you need an extension, want to avoid penalties, or require past records, we’ve got you covered!
Blue Sky Finance
5110 Rosamond Dr STE 3412
Orlando, FL 32808