Four-O-Six Paradise Accounting & Tax Service

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Four-O-Six Paradise Accounting & Tax Service We offer accounting, payroll, bookkeeping and tax preparation for individual, corporations, non-profit & partnerships!

11/05/2026

Issue Number: Tax Tip 2026-80
Loss of a loved one: Steps to manage tax responsibilities
The loss of a family member or loved one is a difficult time. Taxes may be one of the last things people want to think about, but there’s important information for those responsible for handling the person’s property or estate. Here’s a list of key steps to help surviving families and personal representatives with making sure federal tax responsibilities are met.
Identify who will handle the person’s tax matters
When a person passes away, a probate proceeding may be opened. One of the first actions in the probate process is to appoint an estate administrator. The representative could be a surviving spouse, another family member, executor named in the will or an attorney. They generally are responsible for collecting all the assets of the deceased, paying creditors and distributing the remaining assets to heirs or other beneficiaries.
Gather the person’s tax records
The estate administrator, executor, or personal representative may need to request information from the IRS. They must show proof that they’re authorized to manage the deceased person's affairs and their estate. They can request the following:
• Tax return – For a copy of the deceased person's tax return, submit Form 4506, Request for Copy of Tax Return. There's a fee for each return that is requested.
• Tax transcript – A free tax return transcript is available for many returns. A transcript shows most of the line entries from the original tax return and may provide income information from Forms W-2, 1099 or 1098, if it’s requested. They can be requested online, and it’ll be mailed to the deceased person's address of record. Representatives can also submit Form 4506-T, Request for Transcript of Tax Return.
• Payoff information – If they have a balance due, the information can be requested at the nearest Taxpayer Assistance Center or at paying your taxes.
• Change of address – A change of address for the deceased person may be needed so the representative can receive information from the IRS regarding the deceased and/or their estate. Requests can be made by submitting Form 8822, Change of Address and attaching Form 2848, Power of Attorney and Declaration of Representative, or Form 56, Notice Concerning Fiduciary Relationship.
File any tax returns
The individual tax return for the deceased and their estate are separate. This means different types of tax returns may need to be filed. File the final income tax returns of a deceased person for current and prior years, pay any balance due and claim the refund.
More information
IRS.gov- Managing a deceased person’s tax responsibilities

10/27/2026

Preparing for retirement? Know how it can affect taxes
Retirement is a milestone in life that can also bring changes to a taxpayer’s tax situation. Understanding how retirement income is taxed can help taxpayers plan and avoid surprises. Here are some tax considerations to keep in mind when preparing for retirement.
Examples of retirement income that’s taxed
There are several different sources of retirement income, and each may be taxed differently.
• Pensions and annuities: Benefits in the form of pension or annuity payments may be fully or partially taxable depending on how the retirement plan was funded.
• Social Security benefits: Depending on a taxpayer’s filing status and other income, a portion of their Social Security benefits may be taxable. Taxpayers can use the IRS Interactive Tax Assistant to help determine if any of these benefits are taxable.
• Retirement account withdrawals: Distributions from traditional IRAs and other retirement plans are generally taxable. However, qualified Roth distributions are tax-free.
Check withholding
Newly retired or soon to be retired taxpayers may need to adjust their withholding. While they can generally request federal income tax be withheld from benefits such as pensions, annuities, and Social Security payments, it may not be enough. Taxpayers can use the IRS Tax Withholding Estimator, a free, easy-to-use tool that helps workers and retirees estimate the amount of federal income tax to withhold for the taxes they will owe next year.
The estimator reflects the changes to credits and deductions under the Working Family Tax Cuts, including the enhanced deduction for seniors. If withholding isn’t enough to cover their tax obligations, taxpayers may need to make estimated tax payments during the year.
When withdrawals are required
Generally, taxpayers must begin taking required minimum distributions from traditional IRAs and certain retirement plans when they reach age 73. Different rules may apply depending on the type of retirement account and when the taxpayer retires.
IRS resources
The IRS provides information specifically for seniors and retirees, including information about retirement income, tax withholding, filing requirements and available tax benefits. Understanding these rules before retiring can help taxpayers make informed financial decisions and prepare for any changes in federal tax obligations.

09/18/2026

IR-2026-109, Sept. 10, 2026

WASHINGTON — The Internal Revenue Service today reminded taxpayers who have bank accounts that Direct Pay offers a free, secure way to pay federal taxes directly from a checking or savings account.

Direct Pay is available on IRS.gov and allows taxpayers to make one-time payments from their bank account without signing in or paying fees. Taxpayers answer a few basic questions to verify their identity, and no registration is required. For individual payments, Direct Pay uses information from a prior-year tax return selected by the taxpayer. For business payments, Direct Pay verifies the business name and employer identification number (EIN) against IRS records.

"As the IRS continues to support the broader federal effort to modernize payments to and from the government, Direct Pay gives taxpayers a free, secure, and convenient way to pay directly from a bank account,” said IRS Chief Executive Officer Frank J. Bisignano. "This is part of our ongoing effort to make it easier for taxpayers to interact with the IRS and take care of their tax responsibilities online."

Taxpayers can use Direct Pay for individual tax payments, including balance due payments, estimated tax payments, amended return payments, extension payments, and other federal income tax payments. If taxpayers are married and file jointly, they must enter information for the spouse whose name is listed first on the tax return when they make their payment. Business taxpayers can use Direct Pay to make balance due payments, federal tax deposits, and other federal tax payments.

With Direct Pay, taxpayers can quickly handle many common payment tasks online and choose the payment date that works best for them. Direct Pay allows taxpayers to:

Make a same-day payment or schedule a payment up to 365 days in advance.
Receive a confirmation number and the option for email confirmation.
Change or cancel a scheduled payment up to two business days before the payment date.
Pay directly from a U.S. financial institution using bank routing and account numbers.
Direct Pay cannot be used to receive tax refunds by direct deposit. Taxpayers who have never filed a tax return, or who have not filed in more than six years, may need to use another payment option.

Each Direct Pay payment must be less than $10 million. Taxpayers who need to make payment of $10 million or more can use a same-day wire or the Electronic Federal Tax Payment System (EFTPS), if they are already enrolled.

To make a payment, taxpayers can visit Direct Pay with bank account and select “Pay individual tax” or “Pay business tax.” Before making a payment, taxpayers must verify their identity by providing individual or business information. For more information about payment types, scheduling, confirmation numbers, and other payment options, visit Direct Pay Help.

07/23/2026

Tips for tracking charitable donations
Taxpayers who have made or plan to make charitable donations during the year should keep good records of all their contributions. Organized records can make tax filing easier and help support a deduction if it's claimed on a federal tax return.
Here are some tips to help taxpayers keep track of charitable donations:
General deduction rules. Generally, taxpayers must itemize deductions on Schedule A (Form 1040), Itemized Deductions to claim a deduction for charitable contributions. However, beginning with tax year 2026, taxpayers who do not itemize may be able to deduct up to $1,000 in cash contributions, or $2,000 for married taxpayers filing jointly, made to certain qualified organizations.
Know what qualifies. Donations to individuals are not deductible. Examples of this include gifts or individual fundraising accounts. Taxpayers can use the Tax Exempt Organization Search tool on IRS.gov to verify whether an organization is eligible to receive tax-deductible contributions.
Keep proof of all cash donations. For any cash, check or other monetary gifts, taxpayers should keep a bank record or written communication from the charitable organization showing the organization's name, the date of the contribution and the amount donated.
Get a written acknowledgment for larger donations. Contributions of $250 or more, cash or property, require a written acknowledgment from the qualified organization before the deduction can be claimed. The documentation must include the amount of cash or description of the property. It also must state if the organization provided any goods or services in exchange for the gift. If so, description and a good faith estimate of the value of those goods or services must be provided.
Maintain records for non-cash donations. Taxpayers should keep records describing donated property and its fair market value. Additional documentation, including Form 8283, Noncash Charitable Contributions, and a qualified appraisal may be required for larger noncash donations.
Special rules apply to donations of certain types of property such as automobiles, inventory and certain other readily valued property. For more information, refer to Publication 526. For information on determining the value of noncash contributions, refer to Publication 561.

07/20/2026

Identity Protection PINs help taxpayers guard against tax-related identity theft
One of the best ways taxpayers can protect themselves from identity theft is by requesting an Identity Protection Personal Identification Number.
What taxpayers should know about an IP PIN
• Anyone with a Social Security number or an Individual Taxpayer Identification Number can request a free IP PIN, including taxpayers living abroad.
• It’s a unique six-digit number known only to the taxpayer and the IRS.
• It helps verify a taxpayer's identity when they file a federal tax return. It also protects the taxpayer's account, even if they aren't required to file a return.
• Taxpayers must verify their identity before receiving an IP PIN.
• Tax professionals cannot request an IP PIN for a client but may use the number provided by the taxpayer when preparing and filing a return.
• A new IP PIN is issued each year for added security.
• Taxpayers who request an IP PIN online will need to retrieve their new one annually, starting mid to late January.
• Taxpayers who receive an IP PIN must include it on all federal tax returns they file during the year, including prior-year and amended returns.
• The IRS will never call, email, text, or message a taxpayer through social media channels to request their IP PIN.
The fastest way to get an IP PIN
The quickest and easiest way to request an IP PIN is through an IRS Individual Account. After signing in, taxpayers can select the IP PIN option under their profile. Those who do not already have an account will need to complete the identity verification process before requesting an IP PIN.

Options for taxpayers who can't verify their identity online
Taxpayers who are unable to verify their identity online may still be able to get an IP PIN.
• Eligible taxpayers with an adjusted gross income below $84,000 for individuals or $168,000 for married filing joint may apply by submitting Form 15227, Application for an Identity Protection Personal Identification Number.
• Taxpayers who cannot verify their identity online or by phone, are not eligible to use Form 15227, or experience technical issues can make an appointment at a Taxpayer Assistance Center to complete the process in person.

07/07/2026

Issue Number: Tax Tip 2026-54
Marriage means making changes before next filing season
Marriage is an exciting milestone, but it can also affect a couple's tax situation. Here are some simple steps after the wedding that can help make filing next year's tax return easier.
Report a name change
If either person changes their name, it should be reported to the Social Security Administration prior to filing a tax return. The name on the tax return must match Social Security records to avoid processing delays.
Submit a change of address, if needed
If either or both spouses moved to a new home, they should notify their local post office, employers, financial institutions and the IRS of any address change. Taxpayers can officially change their mailing address with the IRS by completing and submitting Form 8822, Change of Address.
Check tax withholding
Marriage may change a couple’s tax responsibilities. Newlyweds should give their employers a new Form W-4, Employee's Withholding Certificate, within 10 days. If both people work, this could move them into a higher tax bracket or they may be affected by the additional Medicare tax. The IRS Tax Withholding Estimator can be used to estimate the amount of federal income tax to withhold from their paychecks now for the taxes they will owe next year.
Review filing status
A taxpayer's marital status as of December 31 determines their tax filing options for the entire year. Married people can choose to file their federal income taxes jointly or separately. While filing jointly is usually more beneficial, it's best to figure the tax both ways to find out which makes the most sense.
Keep tax records together
Combining important tax documents, such as Forms W-2, Forms 1099 and prior-year tax returns, can help make tax filing easier and ensure all income is reported.
Explore tax credits and deductions
Marriage may affect eligibility for certain tax credits and deductions. Couples should review available tax benefits before filing their return.
More information
• Topic no. 157, Change your address – How to notify the IRS
• Publication 505, Tax Withholding and Estimated Tax
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10/25/2024

We are in tax update class learning about changes for the upcoming tax season. Montana returns are going to be quite different!

09/03/2024

Our office will be closed for a scheduled power outage on Thursday September 5th until 12:00 pm.

02/25/2024

Tax season is fully underway. Please remember to check the dates to bring in your documents.

10/19/2023

Now that deadlines are done we can breath. Only for a short time tho. Heading to tax class in Great Falls next week to learn about the 2024 tax filing season. We aren't bored that's for sure.

We are steady but busy. We can choose who we want to take on as clients. In general we are not taking new clients. The next couple of months we will take a few extra days off because we will be back in the rush again in just a few weeks!

Address

105 1/2 S. 2nd Street
Livingston, MT
59047

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Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 12pm

Telephone

+14062222668

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