TaxAct Professional Blog Tax Preparation

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Weekend Support Hours + IRS Filing Opens Monday

TaxAct Professional Support hours have been extended for the weekends of January 27-28 and February 3-4. The hours are as follows:

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IRS 2018 Tax Tables
IRS 2018 Tax Tables


In-Season Support Hours for TaxAct Professional

Help is just a phone call away! In our commitment to customers, we have extended our support hours to better accommodate the busy schedules of professional tax preparers during tax season.

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TaxAct Professional Support
TaxAct Professional Support


State Edition Release Dates for TaxAct Professional

With tax season underway, you may be curious when certain states will be made available to help you better plan your meetings with clients. We have compiled a list all state forms and their anticipated release date. The list is updated regularly so be sure to check back.

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Professional tax preparation resources
Professional tax preparation resources


IRS Updates 2018 Withholding Tables

Via the IRS — The Internal Revenue Service today released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month. This is the first in a series of steps that IRS will take to help improve the accuracy of withholding following major changes made by the […]

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IRS 2018 Tax Tables
IRS 2018 Tax Tables


Form 1040 and Schedule A Available Today (1/11/2018)

TaxAct Professional is planning an update to the 1040 software today (January 11, 2018) for Version 1.1 to allow Professionals to be able to e-file client returns containing Form 1040 and Schedule A. TaxAct has e-file approval and the IRS is expected to release the 1040 final form by next week.

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form 1040 2017 available taxact professional
form 1040 2017 available taxact professional


IRS Makes Minor Change to Form 8809

The Internal Revenue Service (IRS) has made a minor change to Form 8809, Application for Extension of Time To File Information Returns — they will no longer be accepting faxes of this form.

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IRS Form 8809 Extension
IRS Form 8809 Extension


How to Invite Preparers to Your Account

In order to share software downloads, unlimited or prepaid e-filing, reporting, or services (such as Client Xchange, if purchased), the Practice Owner must send each additional preparer an e-mail invitation from the Practice Owner’s account (the account under which the program was purchased). The e-mail will include a unique link. The invited preparer must click […]

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tax preparer invitation taxact professional
tax preparer invitation taxact professional


Version 1.0 Now Available – Start Preparing Client Tax Returns

It’s that time of the year – tax season is here! Made available today, TaxAct Professional customers now have access to certain forms to start preparing client tax returns. Be sure to update your software (from within the software, click the “Online” menu and select “Check for Updates”). Version 1.0 provides you access to: Form […]

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2018 tax preparation software pro
2018 tax preparation software pro


Standard Mileage Rates Increased for 2018

Beginning on January 1, 2018, the standard mileage rates used to calculate deductible costs of operating a vehicle have increased. These rates apply to cars, vans, pickups and panel trucks.

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Standard Mileage Rate 2018 IRS
Standard Mileage Rate 2018 IRS


Paying Taxes on Cryptocurrency Such as Bitcoin, Ethereum, Litecoin, Ripple

With the explosion in popularity of cryptocurrency (i.e. Bitcoin, Ethereum, Litecoin, Ripple, etc.) in 2017, you are sure to have clients who have invested in it and (likely) profited off it as well. But as tax season approaches, do you know how to file taxes on behalf of those clients and their cryptocurrency (also known […]

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Cryptocurrency Bitcoin Blog Tax Taxes
Cryptocurrency Bitcoin Blog Tax Taxes


Resources to Help You Understand the New Tax Bill

With the passing of the GOP tax bill, tax year 2018 is going to look and feel a little different for the tax preparation industry. In fact, you may already be feeling anxious about the changes but that’s understandable. We’ll be here with you as the situation unfolds, so that we can help you understand what […]

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Tax Bill and Reform
Tax Bill and Reform


7 Facts From the IRS Criminal Investigation Annual Report

Last week, the IRS announced the release of the Criminal Investigation Division’s (CI) annual report, reflecting significant accomplishments & criminal enforcement actions taken in fiscal year 2017. This public report serves as a reminder to use strict security protocol within your tax practice and to adhere to the latest laws as a professional tax preparer.

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IRS Criminal Investigation Report Blog
IRS Criminal Investigation Report Blog


5 Things to Know About the Incoming Tax Law

With the passing of the GOP tax bill, formally known as the Tax Cuts and Jobs Act, here are 5 important things to know about changes coming your way as a professional tax preparer.

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gop tax law bill extenders
gop tax law bill extenders


Testimonial: Taxaroo and TaxAct Professional Customer

Customer quote on the use of TaxAct Professional and Taxaroo: “Without a doubt, partnering with Taxaroo strengthens the leverage TaxAct’s platform has over competitors in terms of user-friendliness, efficiency in work flow, cloud-based technology, and cost effectiveness. With this partnership, I don’t need to look anywhere else. Between the two platforms, I have all that […]

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tax practice management
tax practice management