Claiming Dependents on Your 2018 Tax Return – What You Need To Know
It’s not surprising that Tax Reform has muddied the waters for Tax Year 2018, especially since personal exemptions were suspended this year. What has been surprising is that lately the TaxAct® Professional Customer Support Center has received questions from Tax Professionals asking how to determine whether or not a client of theirs can claim someone as […]
Read MoreTo File or Not to File…That is the Question
With the changes introduced by the 2017 Tax Cuts and Jobs Act, also known as Tax Reform, there’s a lot of confusion this tax season. There are a few questions we’ve heard over and over: How does Tax Reform impact potential tax refunds? And, what happens if someone owes more than they thought they would? […]
Read MoreTaxAct 2018 Professional Preparer Invitation Process
During tax season it’s important to have all hands on deck…everyone coming together to help make the season successful. It’s also important during this busy time to ensure you don’t put the security of the data you are managing at risk. A change made this year to TaxAct Professional will help. In our 2018 software […]
Read MoreGet the Help You Need with TaxAct Professional
Tax season is in full swing, and we know our Pros are heads down working hard for your clients. If you have questions or need assistance with TaxAct® 2018 Professional, we have several ways to help you. Online We continue to build out our FAQs to save you time. Our most recent update can help […]
Read MoreMake Time to Grow Your Practice in 2019
This time of year is hectic for tax preparers. Meeting with clients, doing research, and preparing returns are vital to the business. Often we hear that Pros are so focused on working in their businesses that they don’t take time to work on their business. It’s important to slow down and to consider how to […]
Read MoreQualified Business Income Deduction Simplified
Last month the IRS issued final 199A Regulations, implementing the qualified business income deduction (QBID), created by the 2017 Tax Cuts and Jobs Act (also known as 2017 tax reform). The deduction can be claimed by eligible taxpayers for the first time on their 2018 Form 1040. According to the IRS, “Section 199A of the […]
Read MoreIRS Tax Reform Resources for Pros
The 2017 Tax Cuts and Jobs Act, also known as 2017 tax reform, initiated many changes for tax professionals this season. It’s important for tax preparers to understand what those changes mean for their customers, and that can take time. Fortunately, the IRS has provided several resources to help wade through the confusion. Webinars Did […]
Read MoreNotification Center – Information Where You Need It, When You Need It
We’ve added a new feature to TaxAct® 2018 Professional that’s all about providing up-to-date relevant information where our customers are – right in the software. When you sign in, you now see a Notifications tab. Clicking on the tab allows you to see important information about updates, IRS notices, and upcoming system maintenance announcements. A […]
Read MoreExtended In-Season Support Hours
The TaxAct® Professional Support Center will operate on extended in-season hours beginning Monday, January 21. Updated hours can be found here. All hours listed are Central Time. Exceptions to these hours will be for peak season (late January/early February) and prior to the April tax filing deadline. January 26 (Saturday): 9 am – 8 pm January 27 (Sunday): 10 […]
Read More(Completed) System Maintenance Scheduled for 01/15/2019, 01/17/2019
In order to get our systems ready for peak filing season, TaxAct will be performing scheduled maintenance during the next week. During these times you will not be able to access TaxAct Professional software or website. Tuesday, January 15, 2019, from 3 am – 4 am CT Thursday, January 17, 2019, from 4 am – 6 […]
Read MorereCAPTCHA: What it is and How it Protects You and Your Client Data
Every tax professional is a potential target for highly sophisticated, well-funded and technologically adept cybercriminals around the world. No one can fight this crime alone. It takes all of us working together. That is why the Security Summit – the unprecedented partnership between the IRS, state tax agencies, and the private-sector tax industry – came […]
Read More(Completed) TaxAct Professional Scheduled Maintenance for 12/13/2018
TaxAct will be performing scheduled maintenance beginning at 5:00 AM CT on Thursday, December 13, 2018. During this time, you will not be able to access TaxAct Professional software or website. We expect the maintenance to take no more than two hours. Thank you for your patience!
Read MorePTIN Renewal Period Underway
Your PTIN expires December 31. You must renew it before submitting any returns during the upcoming tax season. Apply for or renew your preparer tax identification number (PTIN) annually. If you prepare or assist in preparing federal returns for compensation or you are an enrolled agent, you must apply for or renew your PTIN each […]
Read MoreTaxAct Professional 2018 System Requirements
Are you prepared for the upcoming tax season? One item that might get overlooked is your computer system. Make sure your computer meets the minimum requirements for TaxAct® Professional 2018. Current system requirements are: Operating System: Windows® Users: Windows 7, Windows 8.1, Windows 10 Macintosh® Users: We’re sorry – TaxAct Professional Editions are not available for […]
Read MoreHow the New Tax Rates Affect Your Clients’ Individual Income Tax Returns
The federal income tax rates for almost all taxpayers changed in 2018 due to tax reform. These changes will affect some of your clients’ rates more than others. Here’s how the new tax rates will affect your clients. How did tax reform change the federal income tax rates for 2018? Most income tax bracket rates […]
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