TaxAct Professional Blog Tax Preparation

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2018 Release Dates for TaxAct Professional

Similar to previous tax seasons, the TaxAct 2018 Professional editions start releasing in late October and are updated periodically throughout the filing season. Federal Professional Editions – Planning to release in late October (exact date TBA) Professional Editions 1040 / 1041 / 1065 / 1120 / 1120S / 990 Will have an update in early […]

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2018 Pro Tax Software Available
2018 Pro Tax Software Available


Coming Soon to TaxAct Professional: UltraTax 1040 PDF Import

In a continuing effort to provide productivity-enhancing tools, TaxAct Professional will begin supporting the import of 2017 Form 1040 PDF returns from UltraTax CS. This functionality will become available this fall in the 2018 editions. The benefit of UltraTax PDF import is that it allows the tax professional to build their client list in TaxAct […]

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Ultratax CS 1040 PDF Import
Ultratax CS 1040 PDF Import


Enhancements to Our 2018 Software

As you’re preparing and planning for tax season, you may be interested in what enhancements have been rolled out in the 2018 version of TaxAct® Profession. Here’s a high level overview on what we’ve been working on for tax year 2018 so far:

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tax preparer invitation taxact professional
tax preparer invitation taxact professional


Know the Difference Between Tax Preparer Credentials

As a professional tax preparer, it’s important for you to understand the various credentials and qualifications that are widely used throughout the tax preparation industry. Attorney Attorneys are licensed by state courts, the District of Columbia or their designees, such as the state bar. Generally, they have earned a degree in law and passed a […]

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System Requirements
System Requirements


Veterans Can Claim Refund of Taxes Paid on Disability Severance Payments

The Internal Revenue Service (IRS) is advising certain veterans who received disability severance payments after January 17, 1991, and included that payment as income, that they should file Form 1040X, Amended U.S. Individual Income Tax Return, to claim a credit or refund of the overpayment attributable to the disability severance payment. This is a result […]

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Are You Marketing Your Services to the Self-Employed?

Global consulting firm McKinsey found that there are roughly 68 million freelancers in the US. Think about that for a second, the gig economy (Uber, Lyft, Doordash, .etc) has revolutionized freelancing for 1/5 of America and it’s only going to grow larger. The unfortunate part about statistics on freelancing is that the BLS (Bureau Of Labor & Statistics) […]

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IRS Working on Shorter, Simpler 1040 Tax Form

In an effort to streamline the filing of Form 1040 for both taxpayers and tax professionals, the IRS is crafting a shorter, simpler form for tax year 2018 returns. The intent of the new 1040 is to replace the current versions of Form 1040, Form 1040A and Form 1040EZ. This consolidated approach enables the IRS […]

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Infographic Breaks Down the Tax Cuts and Jobs Act

Major tax reform was approved by Congress on December 22, 2017, aptly named the Tax Cuts and Jobs Act (TCJA). And while there are countless articles on the details of the reform, few concisely recap it in a way that is understandable to taxpayers. That’s why we put together this short infographic to help you and […]

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Tax Cuts and Jobs Act Infographic for Tax Professionals
Tax Cuts and Jobs Act Infographic for Tax Professionals


Webinar: Earn Your Enrolled Agent (EA) Credentials This Year

Becoming an Enrolled Agent might seem like a huge undertaking, but with the right plan in place, you can you can get on track to ace the exam this year. Enrolled Agent (or EA) is a type of tax advisor who is a federally authorized tax practitioner empowered by the U.S. Department of the Treasury. The enrolled […]

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IRS EA Enrolled Agent Tax Preparation
IRS EA Enrolled Agent Tax Preparation


Understanding the Tax Cuts and Jobs Act as a Tax Preparer

In late December of 2017, Congress passed the Tax Cuts and Jobs Act, the most extensive piece of tax reform legislation implemented since the Reagan era. Because media buzz surrounding this reform has caused a substantial number of questions from many taxpayers and tax preparers, we’re here to break down the fundamentals in a way […]

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