Frequently Asked Questions

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About Ash Tax Service

  • People in my reserve unit called me “Ash” which is short for my last name “Ashurov”. When coming up with the business I thought it would be a decent enough idea to put a name on my company.

  • I worked at a couple of firms after college and was disillusioned. Many people asked me for help as a tax accountant, but I could never help them. I was a tax accountant, but I wasn’t. I didn’t learn anything, I could never help people who I ran into in my day to day life, and I felt that my work never mattered. I hated my job and wanted to quit the profession. However, after quitting my last firm and going sober, I began reviewing/working on friends and families returns. The smile of seeing a friend (and subsequent hugging) on saving him over $1,000+ of his own money back was a world of difference away from getting a pizza party in corporate. I fell back in love with my job, picked up my license, and started “Ash Tax Service”. Whether it’s members of my reserve unit, local volunteer groups, or otherwise. People tend to have very limited “bandwidth” when it comes to looking and thinking critically about their taxes. When I am able to assist my clients review their tax year more critically and find ways to improve on their tax liability. It makes my day every time.

  • Yes, that is our bread and butter. While we do other types returns too, we started this business to focus on everyday folks.

  • Yes, we do amended taxes for previous years. A lot of our clients come from big chains who wont’ do them, or did their original year tax filing, but messed it up unfortunately. You must file an amended return within 3 years after the date you filed your original return or 2 years after the date you paid the tax, whichever is later.

  • I would be happy to assist and review areas where you think errors may have been made.

  • We have clients ranging from musicians and artists to landlords and attorneys. Much of my practice is small business owners, real estate landlords, current and past military members, and retirees.

  • We have a portal called “Tax Dome” that we sign all of our clients up to. On that website we have an organizer that asks all the right questions so we aren’t missing anything. We also have a contract that outlines our services and obligations. You can chat identical to phone communication. Everything done on there is private and secure with cybersecurity measures in place.

  • I am more than happy to meet virtually or in-person and I get a lot of satisfaction out of meeting my clients. However we also don’t have to meet up at all, and can complete the return as long as all documents are filled out and questions are answered on the portal.

  • Yes, we can help file forms and tax returns related to payroll. This includes the annual form 940 and quarterly form 941s. We can electronically transmit W2/1099s to federal and state entities while also sending your contractors and employees a copy online and/or by postal service. However, we only offer this service for clients we prepare income taxes for as an in house solution.

    We do not run a payroll service for our clients at this time.

  • We can help you with state sales tax returns, such as reviewing billed at our hourly rate or the actual filing of a state sales tax return. However, we only offer this service for clients we prepare income taxes for as an in house solution.

  • We do not offer bookkeeping as part of our services at this time as it would take away from our focus providing expertise in taxation to our clients. Generally the owner of the business provides us with a copy of what was prepared by another firm or their own bookkeeping work. We will gladly refer you to others who may be best suited towards that task.

About Regular Tax Filings

  • That can vary. However, the general due date for your average taxpayer’s federal income tax return (1040) in 2024 was due on April 15, 2025.

  • Also varies on the state, but typically also due on the same day as the federal taxes are due. However, many states have an automatic 6th month extension for a time to file to October 15th, 2025. (For 2024 taxes)

  • You or your tax preparer should file an automatic extension of time to file, or Form 4868. While this won’t extend the time to pay, you will then have an additional 6 months from the original deadline. If you have an estimate of taxes owed, you should consider making a payment before the due date to avoid penalties with not paying in April.

  • Every federal/state tax document sent to you. This can be a mortgage interest document, property tax, or a W-2 or 1099. Any expenses you believe you should mention you should bring along, like a medical expense or child care statement. Along with the above, government identification like a drivers license or a passport to prevent. This is to prevent fraud or someone using your identification to steal your identity.

  • Estimated taxes are taxes paid on a quarterly basis by the taxpayer. Typically income, but other taxes from self-employment or alternative minimum taxes cause you to be required to make these payments. Individuals are generally expected to make these payments if they owe $1,000 or more when the return is filed for federal, and above $500 for Minnesota. A “1040-ES” can help you calculate what your estimates could be for the next tax year. On you previous tax return, look for a “1040-V” where it will show your quarterly estimates your previous tax professional had printed for you.

  • This happens all the time, what you need to do is amend the return. Federally, the form is a “1040-X”. For Minnesota, the form is “M1X”. You’ll need your previous tax return to input the original numbers to be able to note the difference in the change.

  • Don’t worry! Contact your tax preparer immediately and scan the notice over to them. Often times, they are simply requesting additional paperwork or need an explanation as something that was submitted may have been confusing for a member of their staff. They are human just like us. For example, MN DOR notices typically are asking for what documentation is needed at the top of the second page.

About Due Dates & Late Filings

  • Besides the April 15 deadline for the 2024 tax year, there are other deadlines/extensions.

    The automatic extension for federal time to file is also due on April 15 same as the original return.

    If you have a health condition that caused financial hardship, you can request Form 1127 Extension of Time for Payment of Tax. Different from Form 4868, this can push back the original deadlines.

    If out of the country, the time to file due date is automatically extended to June 15th. If you are in the military at the time, there are certain extensions provided to you based on your circumstance.

  • There are numerous penalties associated with your taxes, but typically the two common are failiure to file, and failure to pay.

    Federally,

    Failure to file: 5% of tax due that accrues up to 25% of the original balance due.

    Failure to pay: 0.5% of taxes due that also won’t exceed 25% of the balance due.

    Interest can be accrued on top of said penalties and balance due that are unpaid.

  • The due date is the later of either three years from the date you filed the original return, or two years from the date you paid the tax for that year.

    Each state has their own version of their due dates that may be similar or different from the IRS.

  • Estimated taxes are due quarterly through the year.

    For the 2024 tax year, estimated payments were due on April 15, 2024. The 2nd quarterly payment was due on June 17, 2024. The 3rd quarterly payment on September 16, 2024. And lastly, the fourth was due on January 15th, 2025.

    If these payments aren’t made, you may own an underpayment penalty both federally and with the state. There may be numerous exceptions to this, check with your preparer for more information.

  • Form 1041 for calendar-year estates and trust income tax return filings are due on April 15th, 2025. (2024)

    Fiscal year estates/trusts must file by the 15th day of the fourth month after the tax year ends.

    Form 7004 is the Form 4868 of the 1041. This extends the time of file deadline 5 ½ months. Calendar year that changes to September 30th, 2025. (2024)

    Form 706, or the US Estate Tax Return is due nine months after the decedent’s date of death. The executor can get an automatic six month extension to file the return by filing Form 4768 before the due date.

    Form 709, or the US Gift and Generation-Skipping Transfer Tax Return is due April 15, 2025. This is if the gift was made in 2024. Form 8892 is an automatic 6 month extension to October 15th of the same year.

  • Generally, a corporation must file its income tax return by the 15th day of the fourth month after the end of its tax year. A new corporation filing a short-period return must generally file by the 15th day of the fourth month after the short period ends.

    You can file Form 7004 for an automatic sixth month extension.

  • An S Corporation must file Form 1120-S for a S Corporation by the 15th day of the third month after the end of its tax year. For calendar year corporations, the due date for Form 1120-S is March 15.

    You can file Form 7004 for an automatic sixth month extension.