Frequently Asked Questions

It's important because it puts The Pierson Firm, PLLC in an elite group who are in accordance with with mandates from the AICPA (American Institute of Certified Public Accountants) and in conjunction with the State of Texas; regarding financial statements and documents presented to outside parties.

As a member of this program, financial reporting work is “reviewed by another AICPA recognized CPA firm” to verify The Pierson Firm, PLLC is in accordance with these rules. The firm has been part of this initiative since inception and has passed each review without exception.

This program is like the "Top Gun" for CPA firms. You are working with the best of the best.

YES, we handle ALL forms of Foreign Bank & Financial Account Filing (FBAR). 

If you hold cash or investments in an account of any kind in a foreign country (not the U.S.), you may be required to file additional tax documents and information reports with the U.S. government. Let us help you be in compliance with current tax law. 

Get  some impartial advice from an accountant before you consult the bank. A  bank will want to see a strong business plan and organized records. Let  us help you get ready for your business's next step!  

Generally, you must make estimated tax payments for the current tax year if both of the following apply:

• You expect to owe at least $1,000 in tax for the current tax year after subtracting your withholding and refundable credits.
• You expect your withholding & refundable credits to be less than the smaller of:  

                   90% of the tax to be shown on your current year’s tax return

                        =OR=

                   110% of the tax shown on your prior year’s tax return 

• (Prior return must be for ALL 12 months)

Officially, according to the IRS; you should keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return. 

Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.

However, based on our experience; we recommend keeping documents used for tax filing for 5 years.

Keep the following critical documents, or copies of critical documents indefinitely:

Birth and Death Certificates, Marriage Licenses, Divorce Decrees, Social Security Cards, Stock Transactions, Home Purchase documents, IRA information and Military Discharge papers.

This is not an all-inclusive list….please contact our office should you have a question regarding a particular document.

Oh no!!!! Here are options depending on your situation:

• Use “Where’s My Refund”, call IRS at 800-829-1954 and use the automated system, or speak with an agent by calling 800-829-1040.
• IF you filed married filing jointly, you must download and complete IRS Form 2911, Taxpayer Statement Regarding Refund explain your situation. See instructions on the Form.
• IF the check WAS NOT cashed, you will receive a replacement check once the original check is cancelled.
• IF the refund check WAS cashed, The Bureau of the Fiscal Service will provide you with a claim package that includes a copy of the cashed check. Follow the instructions for completing the claim package. Your case will be reviewed before a replacement check can be issued. This can take up to six weeks from initiation.