Blog

Upload your client’s W-2s, 1099s, and other supported tax documents and let SmartExtract import the data directly into the return. Review the results side-by-side with the original document, make any corrections, and keep moving. Available at no additional cost during the beta period for 2025 individual (1040) returns. To get started, open a return and […]

Make tax form entry easier and faster. Try it in Beta for free* and give us feedback. See how you can spend less time on manual data entry during the busy season: Upload W-2s and review extracted wage and withholding information. Capture data from supported 1099 forms and verify details before use. Organize information from […]

Digital Assets: Tax Fundamentals, Emerging Issues, and 2026 Legislative Developments Watch the replay!   This two-hour webinar provides a practical, tax advisor-focused overview of the taxation of digital assets, progressing from foundational concepts to intermediate-level tax analysis and recent legislative developments.   Participants will gain a working understanding of how cryptocurrencies, stablecoins, and other blockchain-based […]

For tax professionals, filing season is defined by important questions, complex situations, and time-sensitive decisions. The knowledge you have gained from preparing returns can make a meaningful difference for taxpayers who need help navigating the filing process. At TaxAct, you can use that experience to answer tax-related questions, help customers understand how tax rules apply […]

While tax season may seem months away, year-end planning begins long before the calendar turns to January. The final months of the year provide tax professionals with valuable opportunities to help clients reduce tax liability, prepare for upcoming filing requirements, and make informed financial decisions before December 31. Here are several areas to review with […]

Hobby and House Flipping Watch the webinar replay! Millions of people enjoy hobbies that are also a source of income. From catering to baking cupcakes, crafting homemade jewelry to wind chimes — no matter what a person’s passion, we as tax professionals must determine if our client has a business or Hobby. The rules for […]

Small Business Credits & Deductions This course will review, explain, and discuss best practices for many valuable business and rental activity credits and deductions. Substantial federal tax savings are available with the Section 199A QBI deduction, pass-through elective tax deduction (PTET), accelerated depreciation deductions, favorable retirement plan funding deductions, shareholder, partner, and owner health insurance […]

As a tax professional, you have the opportunity to provide value far beyond preparing annual tax returns. By helping clients develop sound financial habits and plan throughout the year, you can help improve compliance, identify tax-saving opportunities, and strengthen long-term client relationships. Here are several best practices you can share with your small business clients […]

Trump Accounts Listen to the recorded webinar. The One Big Beautiful Bill Act (OBBBA) established Trump Accounts, a new federal, tax-advantaged investment account for children under age 18. The program provides a government seed contribution for certain children born between January 1, 2025, and December 31, 2028, along with the ability for families and employers […]

Introduction to Client Portals Join us for an introductory training session on Client Portals for TaxAct Professional. This webinar will provide an overview of the portal features and demonstrate how to securely exchange documents, manage client files, and navigate the portal experience. See the system in action from both the preparer and taxpayer view, and […]

For tax professionals, filing a return isn’t always the end of the client relationship. Months after tax season, clients may receive IRS or state notices, face audit inquiries, or need assistance with certain qualifying tax-related identity theft matters. When those situations arise, they often turn to the tax professional they trust most. Responding to post-filing […]

Estate Planning After OBBBA … Turning Theory into Practice Join Michael Miranda for an exciting discussion on what can be done in 2026 and beyond to assist clients in developing an appropriate estate action plan. The “permanent” increase to 15M in basic exclusion amount provides estate tax planning opportunities for middle (less than $15M estates) […]

Beginning July 4, 2026, eligible children can receive a new tax-advantaged investment account known as a Trump Account. These accounts were created under Internal Revenue Code section 530A and are designed to encourage long-term savings and investment for children under age 18. (irs.gov) For tax professionals, the immediate challenge is not just understanding the rules. […]

Tax professionals are always looking for ways to improve efficiency while creating a smoother experience for clients. Modern client portal technology continues to evolve with tools that simplify document collection, improve communication, and help firms stay organized throughout tax season. Here are five Portal enhancements (powered by Drake Portals®) that can help streamline your workflow […]

Social Security & Medicare Update This program provides an update on Social Security, Medicare, and Medicaid, with emphasis on the tax and planning considerations relevant to tax professionals. As the population continues to age and more individuals transition into retirement, practitioners are increasingly asked to advise clients on retirement income planning, healthcare coverage, eldercare issues, […]