Webinar: Bank Products

Starting tomorrow at 11:00 AM CDT, Melanie Milton will kick-off hosting the weekly TaxAct Professional Bank Product Webinar Series! During these webinars, Melanie will discuss our new incentive programs, what changes have been made to the bank product program for TY21 and answer any questions you may have. To attend one of these upcoming webinars, click here to register: https://proadvance.taxact.com/taxact-professional-bank-product-webinars/
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Early Season Renewal Discount Ends 7/31

You're invited to enjoy an early renewal discount to lock in the lowest price of the year. There are two options for placing your order.  You can pre-order by July 31, 2021, and pay nothing until November. Or, you can pay by phone today and receive an additional discount. To take advantage of this offer, call our sales team today at (319)536-3571 or visit https://www.taxact.com/professional/. Call Sales at (319)536-3571 or email them at prosales@taxact.com. We're excited for another successful tax season with you!       *Expiration: Pre-pay offer expir...
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What if Your Client Can’t Pay Their Tax Bill?

You try to make sure that your clients don’t get a surprise come May 17th, but clients don’t always listen to their tax professional’s sage advice. Every year, some taxpayers are handed tax bills that they are unable to pay. In 2019, over 11 million taxpayer accounts were delinquent. And this delinquency isn’t something that the IRS takes lightly. They can seize taxpayer property to satisfy a tax debt, garnish wages, or take money from bank accounts. For seriously delinquent tax debt, your client could be denied a passport, and their existing passport could be revoked. If your client comes ...
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IRS Announces Tax Deadline Relief for Texas, Louisiana, and Oklahoma

June 15, 2021 is the new filing deadline in Texas, Louisiana, and Oklahoma... Due to the recent winter storms in Texas, Louisiana, and Oklahoma, residents of these states now have until June 15, 2021, to file various individual and business tax returns and make tax payments per a recent IRS announcement. Excerpt from the IRS website regarding tax relief for Texas severe winter storm victims: “Individuals and households affected by severe winter storms that reside or have a business in all 254 Texas counties qualify for tax relief. The declaration permits the IRS to postpone certain tax-fili...
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When Your Client Files Taxes Will Affect Their Stimulus Payment. Here’s How.

Turns Out, it is Not A Normal Year In a normal year, it’s a good idea to nudge your clients to file their taxes early. It helps to reduce fraud risk, gets your clients a refund sooner, and eliminates the frantic rush mid-April. This year things are a little different. Depending on when your client files their 2020 tax return — and when the IRS processes their third stimulus check —can affect how much money they receive as a stimulus payment. With $1,400 checks for qualifying taxpayer and their dependent(s) going out as this third stimulus payment, filing early or later can have a big im...
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Do more for your clients with tax-smart financial planning and wealth management.

The Financial Services Firm of Tax Professionals You may know our parent company Blucora offers a range of tools to help master the tax landscape.  You may not know that they also offer a tax-smart approach to financial advising.  They do this through services provided by our sister brand Avantax SM. The Avantax Advantage Avantax is a pioneer in tax-smart investing, financial planning, and wealth management.  Founded by a CPA in 1983, Avantax has been helping tax professionals, like you, and their clients to pursue a comprehensive approach to financial well-being for over 30 years. Tax and ...
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Paycheck Protection Program and 2020 Taxes

One of the biggest initiatives to support businesses through the COVID-19 pandemic is the Paycheck Protection Program (PPP). The PPP was designed to help businesses keep staff on payroll by providing a loan to fund payroll costs as well as limited other business expenses. While a loan is helpful during these uncertain times, one of the major draws of this program is that the loan can be forgiven if a business meets certain criteria. For months there was a question as to the tax implications of the forgiven loan. At the end of 2020, tax treatment questions were definitively answered for f...
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Know Someone Wanting to Start a Tax Practice

You might have had a recent conversation with someone who is interested in starting their own tax practice. This e-book is a great resource to share with them as they consider how to move forward. It’s not as simple as hanging an open sign in your office window. In this e-book we offer tax professionals tips to walk you through forming your business, building your practice, and growing it with marketing strategies. Whether someone wants to start and stay a solo practitioner or has dreams of growing a larger firm, these first steps will put them on the right path.
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Press Release: TaxAct and Tax Dome Partnership

CEDAR RAPIDS, Iowa, Jan. 20, 2021 (GLOBE NEWSWIRE) -- 2020 made one thing extremely clear to tax professionals: the ability to manage their practices online is now an operational and competitive necessity. Thanks to a new partnership between TaxAct® and TaxDome®, tax professionals are now able to modernize their practices with everything they need to run their practices digitally today and into the future. Over the last several months, TaxAct searched the marketplace to find a great partner to deliver core needs for tax professionals, including Practice Management, E-signature, Customizable W...
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Have You Considered a .CPA Domain

.CPA is a new, secure domain exclusively available to licensed CPAs starting January 15, 2021.  Having a .CPA domain will help you secure your data, enhance client trust, and strengthen your brand. To apply or learn more, visit https://register.domains.cpa/ today. Brought to you by the AICPA and CPA.com The AICPA is the world's largest member organization representing the accounting profession.  CPA.com is the business and technology arm of the AICPA.  Together, AICPA and CPA.com have worked extensively with ICANN (the internet's governing body) to bring .cpa domains to the profession.
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Pay Later, Get Your Software Now

ERO Select Program If you’re not ready to pay out of pocket for your tax software, good news: you don’t have to. We’re teaming up with Republic Bank for our ERO Select program. With ERO Select you’ll receive TaxAct Professional software now and then just pay $15 per e-filed TIN. There’s a minimum requirement of 50 returns, but that’s it — no hidden technology, transmitter, or filing fees. To join, fill out the prequalification form or call (319) 536-3630.  
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Renew Your PTIN Now

It’s that time of year again! The New Year’s ball is about to drop and that means it’s time to renew your PTIN. All PTIN’s will expire December 31, 2020. Who needs a PTIN? According to the IRS, anyone who “prepares or assists in preparing federal tax returns for compensation” needs to have a valid 2021 PTIN. Log into your account to renew your information and get your PTIN for 2021. Or create a new account to register for your first PTIN. The PTIN fee for 2021 is $35.95.
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Essential Virtual Tools for Your Practice

If there’s anything this year has taught us it’s that being able to work from anywhere at a moment’s notice is vital. But many tax professionals were caught off guard by the different demands of a remote environment. It’s not enough to just set up your laptop in a home office and expect that your business will run the same. Luckily, there are tools that are easy to use and set up that have made running a virtual business possible. Here are some of the tools that are vital when running your practice virtually.  Additionally, be on the lookout for more details on our partnership with TaxDo...
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