Frequently Asked Tax Questions 

IBA Tax Professionals

The following information is provided for general educational purposes only and does not constitute legal or tax advice. Tax situations vary by individual. Filing requirements, credits, deductions, and processing times are subject to IRS rules and change.

General Tax Questions (2026 Filing Season)

1. Who is required to file a tax return in 2026?

Most individuals who earned income during the 2025 tax year are required to file a federal tax return. Filing requirements depend on income, filing status, age, and dependency status.

2. What is the federal tax filing deadline?

The standard federal filing deadline is April 15, 2026, unless extended by the IRS due to holidays or federally declared emergencies.

3. What documents should I bring to my tax appointment?

Common documents include:

• W-2 and/or 1099 forms

• Valid photo ID

• Social Security numbers for you and dependents

• Prior-year tax return (recommended)

• Documentation for deductions, credits, or expenses

4. Can I file my taxes virtually with IBA Tax Professionals?

Yes. IBA Tax Professionals offers secure mobile and virtual tax preparation, allowing clients to upload documents using their phone or computer and e-file without an in-office visit.

5. How long does it take to receive a refund?

The IRS generally issues refunds within 21 days for e-filed returns with direct deposit. Processing times may vary based on IRS review, credits claimed, or filing volume.

IBA Tax Professionals does not control IRS processing times.

6. What if I owe taxes instead of receiving a refund?

Owing taxes does not mean your return was prepared incorrectly. Filing on time helps minimize penalties. IRS payment options may include installment agreements or short-term payment plans.

7. Are my personal and financial records secure?

Yes. IBA Tax Professionals uses secure, encrypted systems to protect client information in compliance with federal privacy and IRS security guidelines.

Self-Employed & Independent Contractor FAQs

8. Do I need to file if I received a 1099?

Yes. Income reported on a 1099 is taxable and must be included on your tax return. This applies to freelancers, gig workers, and independent contractors.

9. What is self-employment tax?

Self-employment tax generally includes Social Security and Medicare taxes. These are calculated separately from income tax.

10. Can I deduct business expenses?

Eligible and ordinary business expenses may be deductible if properly documented. Deductibility is determined based on IRS guidelines and the nature of your business.

11. What if I didn’t track my expenses?

While proper documentation is required, IBA Tax Professionals can help review available records and discuss next steps based on IRS record-keeping standards.

Small Business Tax Questions

12. Do small businesses have to file separate tax returns?

Filing requirements depend on your business structure (sole proprietor, LLC, partnership, or corporation). Some businesses file with the owner’s return, while others file separately.

13. Can I file taxes for my business and myself at the same time?

Yes. Business and personal returns can often be prepared together, depending on the business type.

14. Do I need bookkeeping before filing taxes?

Accurate bookkeeping helps ensure proper reporting, but it is not always required. IBA Tax Professionals offers bookkeeping support when needed.

15. What happens if my business made little or no profit?

Even businesses with low or no profit may still have filing obligations. Filing requirements depend on income, expenses, and business structure.

First-Time Filer FAQs

16. I’ve never filed taxes before. Can you help me?

Yes. IBA Tax Professionals works with first-time filers and explains the process step-by-step to ensure understanding and compliance.

17. Will filing for the first time cause issues?

Filing for the first time does not automatically create issues. Accurate reporting and proper documentation help ensure a smooth filing process.

18. What if I’m claimed as a dependent?

Whether you can be claimed as a dependent depends on IRS dependency rules. This affects filing status and eligibility for certain credits.

19. What if I made a mistake on my return?

If an error is identified after filing, an amended return may be required. Not all errors require amendments; we can review and advise accordingly.

Consultations & Professional Support

20. Do you offer tax consultations?

Yes. Tax consultations are available to discuss your individual, self-employed, or business tax situation before filing.

Consultation fees may be applied toward services if you proceed.

21. Why choose IBA Tax Professionals?

• Established in 2018

• Flat-rate, transparent pricing

• Mobile, virtual, and remote services

• IRS-compliant preparation practices

• Client-focused education and support

Still Have Questions?

📅 Schedule a consultation with IBA Tax Professionals
📱 Start your mobile or virtual tax filing today