Welcome to Reeves CPA PLLC

Updates to Corporate Transparency Act / Beneficial Ownership Information Reporting

[Updated March 21, 2025] All entities created in the United States — including those previously known as “domestic reporting companies” — and their beneficial owners are now exempt from the requirement to report beneficial ownership information (BOI) to FinCEN. Existing foreign companies that must report their beneficial ownership information have at least an additional 30 days from the date of publication of the interim final rule. For more information, see press release and alert.

Oregon updates authorization forms

The new forms are OR-AUTH-REP (Authorization to Represent) and OR-AUTH-INFO (Authorization to Receive Tax Information).

The old Power of Attorney for Representation Form (POA) is no longer accepted as of January 2, 2025, and is permanently discontinued.

The new forms respond to taxpayer concerns and create a clearer and easier experience for taxpayers who may need to have representation or have other parties receive their confidential taxpayer information. DOR’s webpage provides additional resources for taxpayers that may need to use either form. DOR also has published three videos highlighting the changes found on the new forms.

IRS takes steps to help prevent refund delays by accepting duplicate dependent returns with an IP PIN for 2025 filing season; taxpayers encouraged to sign up soon for IP PIN, Online Account

IR-2024-294, Nov. 21, 2024

WASHINGTON — The Internal Revenue Service is making it easier for taxpayers to protect their information and avoid refund delays by accepting certain e-filed tax returns that claim dependents who have already been claimed on another taxpayer’s return. This change will benefit filers claiming important tax credits like the Earned Income Tax Credit and Child Tax Credit.

Beginning in the 2025 filing season, the IRS will accept Forms 1040, 1040-NR and 1040-SS even if a dependent has already been claimed on a previously filed return as long as the primary taxpayer on the second return includes a valid Identity Protection Personal Identification Number (IP PIN). This change will reduce the time for the agency to receive the tax return and accelerate the issuance of tax refunds for those with duplicate dependent returns. In previous years, the second tax return had to be filed by paper.

Using an IP PIN is a way for taxpayers to help protect themselves against identity theft. With the new changes being made by the IRS, the IP PIN will also help protect taxpayers when someone fraudulently claims a taxpayer’s dependent. The IRS encourages taxpayers who plan to file early in 2025 to sign up for an IP PIN before Nov. 23, 2024. After that date, the IP PIN system will be offline for annual maintenance until early January 2025.

See IRS Notice IR-2024-294, 21 November 2024

Starting in January 2025 for tax season 2024, QuickBooks is changing how they will provide W-2 tax forms and 1099 tax forms.

QuickBooks will no longer be printing and mailing W-2 tax forms as part of your QuickBooks Online Payroll subscription.
QuickBooks will no longer be printing and mailing 1099 tax forms as part of the subscription to QuickBooks Online Payroll or QuickBooks Contractor Payments.

Summer Day Camp

Money you pay for day camp or other child care expenses during the summer may be eligible for the child and dependent care tax credit. Contact us to find out if you can claim a child care tax credit.

Check your federal withholding to decide if you need to give your employer or pension administrator a new W-4 (P).

If you owed more money when you filed your tax return than you wanted or incurred a penalty, now is a great time to adjust your withholding with your employer by completing a new Form W-4 or with your pension administrator by completing a new Form W-4P. You can us the IRS Tax Withholding Calculator located under the Resources link.

Hours of Operation:
Tax Season hours: Monday – Friday 10:00 AM – 4:00 PM
Off-season hours: Advance appointments only

More tax information is in my blog.

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Please feel free to browse our website to see the services we offer as well as the many helpful resources we provide.

Reeves CPA exists to provide clients and potential clients with information about us and our unique, low-pressure approach to personal and professional services. We are extremely proud of the high-quality services we provide. We are a small business and understand the uniqueness of the small business. We care about you and your family.

In addition to understanding small businesses, we understand the military families as military service is part of the CEO’s family. Reeves CPA is also passionate about ranches and farmers who are the very backbone of our food supply. Reeves CPA also educates the elderly on Social Security regarding marketing scams so that they do not become victims to (e-mail) phising scams or targeted by unscrupulous sales tactics as family members have been in the past.

When you are ready to learn more about what we can do for you, we encourage you to contact us.

MaryValerie Reeves
Principal