Frequently Asked Questions

Why are Seland & Winn™ Tax Services staff are so knowledgeable and polite?
From their training, which is an ongoing process.  In our profession, knowledge and politeness are attributes of all Seland & Winn staff.
How do I contact a Seland & Winn™ Tax Services office?

You may contact any Seland & Winn office by using the “Contact Us” link on this Website or by calling …

Why aren’t Seland & Winn™ offices open after April 15th?
In reality, all Seland & Winn offices are open year-round.   You can be secure knowing that your local Seland & Winn office will be around all year and generally in the same location you have come to pattern your tax itinerary from.   Your office will not move to some unknown location on April 16th then not tell you about it, and then not reopen until January 2nd of the next year!

At the end of the year, I get this “Statement Of Overpayment” Form 1099-G from My State Tax Department.   Is this income that I have to declare on my taxes?

This is a common and popular question.   This Statement Of Overpayment amount from your State Tax Department equates to some portion, or all, of your State Refund dollar amount from the preceding year.   This Statement only means something to you if you itemized your deductions (filed Schedule A) with your Federal tax return from the previous year.   Filing this means that your total of Itemized Deductions list was higher than the Standard amount given to you for your filing status.  From the Itemized Deductions checklist, a deductible expense is the amount of State income tax you have paid in the preceding calendar year.   This State income tax amount is from either withholding from your wages, State Estimated tax deposits, and/or the “Balance Due” you paid to your State with your tax last year.  At the time you file your Federal return, you are deducting ALL the State taxes you deposited on “your account” in that year.   When you later prepare and file your State return, those calculations may come down to where you are due a Refund of a portion of your deposits to the State.   This is the basis of the “Overpayment” number that shows on your 1099-G form.
Are casino winnings taxable?
According to the US Tax Code, all income is taxable when acquired, or “earned”.  Winnings from a casino, or any lottery or contest for that matter, are taxable.   Generally, the casino or lottery contest will issue you a Form W2-G when your single event winnings exceed  $600.00.   Often, the W2-G will be the receipt tape given to you at the time of the event.   It is your responsibility to keep these receipts and report the winnings at tax time, even if you are not given a Form W2-G.
I just received a Form 1099-C in the mail from my bank lending company.   What is this?
The Form 1099-C has seen a renewed popularity recently.   The 1099-C is the form for reporting the Cancellation of Debt for any loan you may have had, whether from a credit card, personal loan or real estate mortgage or home equity loan.  If the nature of the loan is Unsecured Debt, meaning from a non-collateralized Loan such as from credit cards or personal loan, generally the amount of Principal Cancelled, or eliminated, is taxable income.  If the nature of the debt is Secured Debt, such as from a home or automobile, some more facts have to be known to determine taxable income, if any.  If the cancelled debt is concurrent or a related event of a bankruptcy or if you can prove you are financially insolvent at the time of the Debt Cancellation, this may result in the cancelled debt Principal being exempt from taxation.  With the recent surge in Real Estate value declines and the general state of the economy, Form 1099-C has become more widespread.   Every situation is unique and a determination of all facts is needed to know your particular situation.
I filed my tax return electronically.   When will I get my Refund direct deposited Into my bank account?
The IRS publishes a Worksheet of Direct Deposit dates for each Tax Season.  These dates are usually Fridays, and the transactions tend to be done in the early morning hours.   However, this Worksheet is always subject to change or modification and there may be additional or less Direct Deposit dates that actually take place.   This means there are no guarantees as to when you will get your Refund.  The IRS has been pretty diligent at maintaining the Worksheet Date structure from year-to-year.   Please see the next FAQ for further guidance.
How do I contact the IRS?

Both the Internet and telephone can be utilized for a wide variety of functions.  During Tax Season, the Internet may prove to entail less waiting time for your needs.   Use the only IRS website, which is www.irs.gov.   Have your Social Security number(s) handy as well as your tax return for the current year and last year as you may need to use information from these as “passwords” functions to gain admittance to your files.  The telephone number nationwide is 1-800-829-1040.   This general number allows you to gain admittance to the widest area of functions in the system.  Other numbers can be utilized for more specialized functions.  These two forms of communication should serve the vast majority of issues you would have, including Refund information.   Letter writing will be less efficient and take a lot longer.  A word about communicating with the IRS, if you initiate the communication, the best methods are the Internet or telephone.   If the IRS initiates a communication, it will be by letter only!!!   This is mentioned because of the recent proliferation of Scam artists who utilize both telephone and the Internet to dupe taxpayers into having their money stolen in some form!   Please do NOT fall prey to these Scam artists.   If somebody calls or sends you an e-mail claiming to be the IRS, they are NOT the IRS!!!!

It is February 2nd and I still do not have my W-2s or my Interest/Dividend forms 1099 Statements from my bank and my investment brokerage company.   Isn’t January 31st the deadline for having these?
In 2008, the IRS modified the deadlines for the banks and financial institutions for getting these 1099 forms to you.   For 2008 and beyond, the financial institutions have until February 15th to get these to you.   This was done in an effort to reduce the inaccuracies previously present when the deadline was January 31st.  Very often, corrected 1099s had to be sent resulting in numerous headaches for both you the taxpayer and the IRS.   For W2s, the deadline is still January 31st.

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