Dear [First Name], 

 

The newsletter is reaching you a little later than planned

As we move through July and the second half of the year, it's a great time to review your tax and financial position. A mid-year financial checkup can help individuals and business owners stay on track, identify tax-saving opportunities, improve cash flow planning, and avoid costly surprises when tax season arrives.

 

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.

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

 

 

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

 

 

Tax relief in disaster situations

Stay informed about the latest IRS disaster tax relief provisions and important filing deadline extensions available for eligible taxpayers.

 

 

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.

 

 

Stay Connected 

For more updates, tax tips, and financial insights, follow SK Financial CPA on social media. Stay informed about tax law changes, planning strategies, and important IRS updates throughout the year.

Stay tuned for our August Newsletter, where we'll share the latest tax updates, important deadlines, and practical financial tips to help you stay ahead.