MENTOR, Ohio — Andrew Somich said his interest in becoming a certified public accountant (CPA) began after he saw the impact the recession had on his family’s business. He said the business went bankrupt and collapsed.
What You Need To Know
- Andrew Somich’s interest in becoming a CPA started after seeing his family’s business collapse
- He has been a CPA since 2011 and owns a firm called Somich and Associates CPAs
- The 2021 tax season is underway and Somich said the IRS is still working to process returns from 2020
- He said he and his team are prepared to help clients by staying up to date on any new information
- The filing deadline for individuals is April 18, while the deadline for partnerships and corporations is March 15
“I just wish there was something that a CPA or an advisor could have done differently to help our family business, but ever since then, it’s created a deep desire in me to learn a successful business and help others as well,” he said.
He’s worked as a CPA since 2011 and owns a firm called Somich and Associates CPAs.
The Internal Revenue Service (IRS) started accepting and processing 2021 tax returns Jan. 24 — 17 days earlier than the last tax season’s start date of Feb. 12.
Somich said the IRS is having a hard time as it is still working through millions of filings from last year.
“The IRS is a little bit understaffed this year and last year since the pandemic, and it’s very important that the clients and CPAs gather all the information from their clients,” he said.
Between the IRS distributing three COVID-19 assistance payments to eligible Americans and monthly enhanced child tax credit payments, Somich said he and his team are prepared to help clients understand any updates and changes to the tax code in 2021.
Changes include higher deductions for medical expenses, new tax brackets and the end of penalties for student loan help.
“The IRS is sending out a lot of notices,” he said. “These are just automatically generated, so sometimes it might not be accurate, and that’s where we come in place to review it makes sure everything is correct. A lot of times the IRS just has a process.”
He said people should keep some things in mind.
“We have good records of everything, and sometimes it is delayed,” he said. “But these types of situations are our control, so we are telling our clients be patient. But they will get their refund or what is due to them.”
Somich said the deadline for individual returns is April 18 and the deadline for partnerships and corporations is March 15.
For more information on Somich and Associates CPAs, click here.
