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Dear [First Name],
Wishing you, your family, and your business a safe and memorable 4th July Independence Day. Thank you for placing your trust in SK Financial CPA
As we move through the second half of the year, now is the ideal time to review your tax and financial position. A mid-year checkup helps business owners and individuals avoid surprises at tax time, improve cash flow planning, and reduce the risk of penalties or refund delays.
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IRS Refund Processing & Verification Updates
The IRS continues to apply enhanced identity verification and income-matching procedures during the current filing season. As a result, some taxpayers may experience refund delays.
To help avoid processing issues, ensure that all income documents such as W-2s, 1099s, and K-1s—are accurately reported, and that banking information is correct on your tax return.
Why refunds get delayed (and how to avoid it)
Refund delays typically occur when the IRS requires additional time to verify identity, match income records, or review tax credits.
To reduce delays:
- Ensure all W-2s, 1099s, and K-1s are correctly included
- Double-check Social Security numbers and bank details
- E-file and select direct deposit
- Respond promptly to any IRS notices
Most delays are related to review procedures and are resolved once verification is completed.
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Important Tax Alert: Protective Refund Claim Deadline
Federal Tax Deadlines
Deadline: July 10, 2026 If you do not file your protective claim by the deadline, you may permanently lose the opportunity to recover eligible refund amounts.
July 2: Deadline to submit comments or request a public hearing on the IRS proposal to increase estate tax closing letter user fees.
July 6: Deadline for eligible small businesses to apply for retroactive relief under the domestic Research & Experimental (R&E) expense rules for prior tax years.
Estate Tax Closing Letter Fee Proposal
The IRS has proposed increasing the user fee for requesting an Estate Tax Closing Letter (Letter 627) to $76. This change is currently open for public comment and may affect estate representatives, executors, and taxpayers involved in estate
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2026 Standard Deduction Update
The IRS has increased the standard deduction amounts for the 2026 tax year to reflect annual inflation adjustments.
- Married couples filing jointly: $32,200
- Single filers and married individuals filing separately: $16,100
- Heads of household: $24,150
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July Planning Focus: Q3 Estimated Taxes
With the third quarter estimated tax deadline approaching in September, July is the right time to:
- Project full-year income
- Adjust estimated tax payments if revenue has increased
- Review cash flow and business performance
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Tax relief in disaster situations
Stay informed about the latest IRS disaster tax relief provisions and important filing deadline extensions available for eligible taxpayers.
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Our New Website Is Now Live
We're pleased to announce the launch of the new SK Financial CPA website!
Our updated website features a cleaner design, improved navigation, and a mobile-friendly experience, making it easier than ever to find the information you need. You can explore our services, get an instant price estimate. One Firm. One Team. One Relationship.
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