Royce A. Belcher, CPA, PLLC Announces the Acquisition of C & W Tax Service

We are pleased to announce that Royce A. Belcher, CPA, PLLC has acquired C & W Tax Service in Lafayette, Tennessee.

This acquisition reflects our continued commitment to providing exceptional accounting, tax, and advisory services to individuals, families, and businesses throughout the region. Our experienced team is dedicated to delivering strategic, personalized solutions tailored to each client's unique needs.

At Royce A. Belcher, CPA, PLLC, our guiding principle remains the same:

"It is our policy to provide personalized service in an effective and proactive manner while exceeding our clients' expectations."

The Lafayette office is conveniently located at:

420 Highway 52 Bypass West
Lafayette, TN 37083
Phone: (615) 666-4305

To ensure the highest level of responsiveness, calls to the Lafayette office will also be routed to our Lebanon office, allowing us to promptly assist clients and minimize missed calls.

The Lafayette office will initially be open Tuesday through Thursday, from 9:00 a.m. to 3:00 p.m. Office hours may be adjusted as we evaluate client demand and continue to expand our services in the community.

We are excited to welcome the clients of C & W Tax Service to the Royce A. Belcher, CPA, PLLC family and look forward to building lasting relationships while continuing the tradition of trusted, professional service.

Trump Account Information

The IRS on Dec. 3 issued Notice 2025-68 (PDF – 221.97 KB), providing the first guidance on Trump accounts, a new type of tax-advantaged savings account for children created under the One Big Beautiful Bill Act (OBBBA). Trump accounts will become available in 2026, with a pilot program covering eligible children born between 2025 and 2028. However, no contributions may be made until July 4, 2026.

Trump accounts will generally operate like traditional individual retirement accounts (IRAs) for eligible minors and will be subject to an annual aggregate contribution limit of $5,000, adjusted for inflation after 2027. In addition, each qualifying child born after Dec. 31, 2024, and before Jan. 1, 2029, will receive a one-time federal contribution of $1,000, which will not count toward the annual contribution limit.

Notice 2025-68 outlines how the accounts will operate and highlights several differences from traditional IRAs. For example, account assets must be invested in broad U.S. equity index funds, and withdrawals generally are prohibited until the child reaches age 18. After that, the account will be governed by the rules applicable to a traditional IRA.

The notice serves as an initial overview of the new program, announcing forthcoming proposed regulations and introducing draft Form 4547, which taxpayers will use to elect and establish Trump accounts. The IRS indicates that additional guidance, including reporting forms and more detailed rules, will be issued in the future. More information is also available at TrumpAccounts.gov.

The guidance also confirms that employer contributions to Trump accounts are permitted under the new law. Employers may contribute up to $2,500 annually to the Trump account of an employee or an employee's dependent without creating taxable income for the employee. The $2,500 limit applies on a per-employee basis, regardless of the number of eligible dependents.

In addition, employers may offer Trump account contributions through a Section 125 cafeteria plan on a salary reduction basis if the contributions are made to the Trump

Trump Accounts Are Live.

Every child born in the U.S. between 2025 and 2028 with a valid social security number gets $1,000 invested in an index fund built for long-term growth.

Family and Friends can contribute up to $5,000 per year on top of that.

At age 18, your child takes control and can keep investing or use the funds under Rules similar to a Traditional IRA.

To start: File IRS Form 4547 then download the app at TRUMPACCOUNTS.GOV

Extension for the State of Tennessee

Updated on 4/15/2026: The relief described on April 3, 2026, has been expanded to taxpayers in ALL 95 counties in the state of Tennessee.

Tennessee taxpayers now have until June 8, 2026, to file various federal individual and business tax returns and make tax payments.

Click here for the Full notice from the Internal Revenue Service.

IRS announced Friday that it’s offering tax relief for Tennessee individuals and businesses that were impacted by the devastating January winter storm.

The relief includes an extension for filing taxes. Those impacted will now have until May 22 to file their returns and pay any taxes that were originally due during this period. The IRS said that penalties on payroll and excise tax deposits that are due on or after Jan. 22 and before Feb. 6 will be abated as long as long as tax deposits were made by Feb. 6.

Those who qualify include individuals who have a home or business in the following counties: Cheatham, Chester, Clay, Davidson, Decatur, Dickson, Hardeman, Hardin, Henderson, Hickman, Lawrence, Lewis, Macon, Maury, McNairy, Perry, Robertson, Rutherford, Summer, Trousdale, Wayne, Williamson and Wilson.

“If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original filing, payment or deposit due date that falls within the postponement period, the taxpayer should call the telephone number on the notice to have the IRS abate the penalty,” the IRS says.

Those impacted who need copies of previously filed tax returns will not have to pay the fees for obtaining them, the IRS said. To get them, they should fill out forms 4506 or 4506-T and write “Tennessee Winter Storm Fern” in bold letters at the top.

Taxpayers located in the designated areas above should be automatically identified by the IRS and have the payment relief already applied. However, those located outside the designated areas are urged to call the IRS Special Services number at 866-562-5227 to request the relief.

What happens after the cut off date?

Today is the final day for clients to submit their tax information in order to guarantee completion by the April 15 filing deadline.

If your information is submitted after today, we will absolutely still process your return; however, we cannot guarantee it will be completed by April 15.

We will continue preparing tax returns in the order they are received, provided all required information is complete. In some cases, missing documents may require us to pause work until we receive the necessary details from you, which can impact turnaround time.

Regardless of when your information is submitted, our team will work diligently to complete as many returns as possible before the deadline and minimize the need for extensions.

If an extension does become necessary, we are happy to file it on your behalf. Please know that we always have your best interests in mind and are committed to providing you with the best possible service.

What Is a Trump Account?

Trump Accounts are a new type of tax-advantaged savings account for children created under the One Big Beautiful Bill. The program becomes effective for tax years beginning after December 31, 2025.

The purpose of these accounts is to help American children begin building long-term wealth at an early age while expanding financial participation and private ownership across the country.

Below is a practical overview explaining what Trump Accounts are, how they work, and what makes them unique.

What Is a Trump Account?

A Trump Account is a specialized individual retirement account (IRA) established for the exclusive benefit of a child under age 18.

While it is not a Roth IRA, it shares some characteristics with traditional IRAs but includes additional rules designed specifically for minors. The account may be established by the Secretary of the Treasury or by a parent, guardian, or other authorized adult and must be designated as a Trump Account at the time it is opened.

Eligibility

Any child under age 18 with a valid Social Security number is eligible to have a Trump Account.

Children born between January 1, 2025, and December 31, 2028, may receive a one-time $1,000 contribution from the federal government if an election is made to establish the account.

Funding a Trump Account

Trump Accounts may receive contributions from several sources:

Federal Government Seed Funding
Children born between 2025 and 2028 may receive a $1,000 initial deposit from the U.S. Treasury.

Family, Friends, and Employers
Individuals may contribute up to $5,000 per year per child (indexed for inflation after 2027).

Employers may contribute up to $2,500 annually on behalf of an employee’s child. These employer contributions are excluded from the employee’s gross income.

Charities, Philanthropists, and State Governments
Charitable organizations, philanthropists, and state governments may make contributions on behalf of groups of eligible children. These contributions are not subject to the $5,000 annual limit provided they apply to a defined class of children, such as all children born in a particular year or all children residing in a state.

Investment Requirements

Funds held in a Trump Account must be invested in eligible investments until the child reaches age 18.

Eligible investments include mutual funds or exchange-traded funds (ETFs) that:

·  Track a broad, diversified index of primarily U.S. companies (such as the S&P 500)

·  Do not use leverage

·  Maintain very low fees (no more than 0.1% annually)

Sector-specific or industry-specific funds are not permitted.

Withdrawal Rules

Withdrawals are not permitted before the year the beneficiary turns 18, except for certain rollovers (such as transfers to another Trump Account or to an ABLE account for a disabled beneficiary).

After age 18, the account is treated similarly to a traditional IRA and becomes subject to the standard IRA rules regarding withdrawals, taxes, and penalties.

Withdrawals before age 59½ are generally subject to ordinary income tax and a 10% early-withdrawal penalty unless an exception applies. Common exceptions include:

·  Qualified higher education expenses

·  First-time home purchases (up to $10,000)

·  Other standard IRA exceptions

Tax Treatment

Contributions

·  Contributions from parents, relatives, and friends are made with after-tax dollars and are not tax-deductible.

·  Employer contributions (up to $2,500 annually) are excluded from the employee’s taxable income.

·  Contributions made by charities, states, or the federal government are not included in the child’s taxable income.

Investment Growth

Investment earnings grow tax-deferred. Taxes are not owed until funds are withdrawn.

Withdrawals

After age 18, withdrawals follow traditional IRA rules. Contributions are not taxed again, but earnings are taxed as ordinary income when distributed, unless an exception applies.

Why Trump Accounts Matter

Trump Accounts are designed to expand access to long-term wealth-building opportunities for American children.

Key benefits include:

Universal Access
Any child under age 18 with a Social Security number can have a Trump Account regardless of family income.

Early Wealth Accumulation
The government’s $1,000 seed contribution, combined with additional family or employer contributions, can grow significantly over time through long-term compounding.

Financial Literacy
These accounts provide young Americans with early exposure to investing and long-term financial planning.

Broader Economic Participation
The policy aims to increase private ownership by encouraging every American to participate in long-term investment growth.

How to Open a Trump Account

The IRS has released Form 4547, which can be filed with your 2025 tax return or submitted online through the Trump Accounts portal.

For children born between 2025 and 2028, the $1,000 government contribution can be claimed by selecting the appropriate election on the form or through the online application.

If you would like Royce A. Belcher, CPA, PLLC to prepare and file Form 4547 on your behalf, please contact us before your tax return is filed. Let us know which children you would like accounts established for and who will serve as the account custodian.

A preparation fee will apply.

Conclusion

Trump Accounts introduce a new approach to long-term savings for American children. By combining government seed funding, tax-deferred investment growth, and contributions from families, employers, and charitable organizations, these accounts are designed to help the next generation build financial security from an early age.

The IRS and U.S. Postal Service (USPS) Rule

A finalized U.S. Postal Service (USPS) rule, effective Dec. 24, 2025, clarifies how postmark dates are applied, and the change has real consequences for tax filings that rely on timely mailing.

This isn’t a change to tax law. Section 7502 still governs timely mailing and timely filing. What’s changed is how the USPS defines the date that appears on many envelopes. This operational shift increases the risk of late postmarks, even when a document is dropped off before its deadline.

What the USPS rule actually changed

The USPS adopted a final rule adding §608.11, “Postmarks and Postal Possession,” to the Domestic Mail Manual. Under this rule, most machine-applied postmarks now reflect the date of the first automated processing operation at a USPS processing facility, not the date the mail was dropped off or accepted at a retail counter.

Because mail is often transported to processing facilities after acceptance, the postmark date can be later than the mailing date. In some cases, postmarking can cross calendar days, especially under current USPS logistics and transportation practices.

The rule also clarifies that not all mail receives a postmark, and the absence of a postmark doesn’t mean USPS never accepted the item. From a tax perspective, that clarification offers little comfort when a deadline is at stake.

Why this matters for tax filings

Under §7502, as interpreted by Treasury regulations, the postmark date controls whether a mailed return, payment or other tax document is treated as timely filed when it’s not physically received by the IRS by the due date. If the USPS postmark is dated after the deadline, the filing is late, regardless of when the taxpayer dropped it in the mail.

The law hasn’t changed, but the reliability of machine-applied postmarks as evidence of timely mailing has weakened.

How these mail changes appear in practice

A taxpayer drops an extension payment in a USPS mailbox on April 15, assuming it will be postmarked that day. The envelope isn’t processed until the following evening, when it reaches a regional processing facility, where a machine-applied postmark dated April 16 is applied. Under §7502, the IRS treats the payment as late, even though the taxpayer mailed it on time. Without a manual postmark, receipt or other proof of acceptance on April 15, the taxpayer has no reliable way to establish timely filing.

How taxpayers can protect themselves now

The USPS rule itself points to the solution. If the mailing date matters, the taxpayer must take an affirmative step to document it.

Best practices now include:

• Requesting a manual (local) postmark at a USPS retail counter.

• Obtaining a postage validation imprint when paying for postage at the counter.

• Using Certified Mail or Registered Mail, which provides a receipt and, under §7502(c), is treated as evidence of timely mailing unless the IRS can prove otherwise.

• Purchasing a Certificate of Mailing to document the date the item was presented to USPS.

• Using an approved private delivery service when appropriate.

Relying solely on mailbox drop-offs near deadlines is no longer defensible risk management.

Information on 2025 Tax Year

It is that time again when we all must prepare to have our Federal Income Taxes filed.

• Deadlines for tax information to be in our office is March 17, 2026 for Individual Returns.

• For Corporations, LLC’s or Partnerships, the due date for information to be in our office is February 20, 2026.

• If a new automobile (year model 2025 or 2026) was purchased during 2025, a copy of the Bill of Sale containing the VIN number will be needed.

• If you received overtime pay during the year, a copy of your LAST paystub reflecting overtime will be needed.

ALL Clients must COMPLETE the 2025 Required Client Information Packet (click here) to ensure all information is up to date. This is for YOUR benefit and to help make the process as flawless as possible.  This includes bank account information. (Bank Name, Routing Number and Account Number)

• We do not keep bank account information in our system for security purposes.

• Dependents names, dates of birth and sex at birth must be listed on your Information Packet. If they have been on your previously filed tax returns we will have their Social Security Number.

• The information that we ask for is all necessary for the accuracy of your return. Please take the time to answer ALL questions . It can and will save time and possibly money in the long run.

IRS Payment Information
Please note that the U.S. Treasury has discontinued issuing paper refund checks effective September 30, 2025. To avoid delays in receiving your refund, be sure our office has a correct bank account on file BEFORE your return is filed. If banking information is not provided, you may be required to contact the IRS directly for refund processing. While electronic payments to the IRS are not currently required, they are strongly encouraged for faster, more reliable processing.

Please bring all information at one time.  We understand that brokerage and investment statements can run late into March before you receive them and we will do our best to accommodate. Bringing additional information after you have informed us that your return is ready to be completed will result in additional fees if your return must be revised.

• If you need an extension of time filed, contact our office by email (doris@rabcpa.com). This MUST be done by email. Remember that this only extends the time requirement for returns but does not extend the time to pay any tax liabilities. In the event additional taxes are due and remitted after April 15, you will be subject to late payment penalties and interest.

• You will need to inform us of the amount you intend to send with your extension request.

Other Information:

After bringing your COMPLETED forms and tax information to our office, it is placed in the order it was received. It is logged into our tracking system and the information is sorted as needed. Returns are processed as quickly as possible but the emphasis is on accuracy.

When the return is complete and ready for review our office staff will contact the client via phone, email or text. After review, the clients signature(s) is required before it can be transmitted to the IRS. After being transmitted to the IRS, our office will receive a confirmation that it was accepted or rejected. If rejected, our office staff will determine what issues are causing the rejection and will contact the client for further information as necessary. The return will be corrected and transmitted again.

Quickbooks User Notice

It has been brought to our attention that once again QuickBooks is being deceptive with

their marketing and promotion of services. We have been recently made aware

QuickBooks on-line is informing clients of the following “Your accountant invited you to

Quickbook Payments”

WE HAVE NOT INVITED YOU TO JOIN THIS AND DO NOT RECOMMEND THIS OR

ENDORSE IT IN ANY WAY. Please be aware and do not sign up for this service unless

YOU are interested.