Basics and Beyond of Crypto Taxation: On-Demand Webinar Crucial Knowledge Tax Preparers Need to Know
Cryptocurrency, or virtual currency, is a digital representation of value currently used both as a medium of exchange and as an investment. The IRS considers virtual currency to be property; in many cases, basic property tax law works well for virtual currency. Unfortunately, there are also many crypto activities for which property tax law just doesn’t apply and there is no IRS guidance to support a tax position. Understanding the concepts underlying cryptocurrency helps th...
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IRS Tax Pro Account: Another Line of Defense Against Data Theft
The IRS and the Security Summit partners remind you that another way to help protect sensitive information from identity thieves is with secure online tools such as Tax Pro Account.
Tax Pro Account is a secure, mobile-friendly, digital self-service that enables you to act on a taxpayer’s behalf, view their information and manage their authorizations more efficiently.
You can use Tax Pro Account to send Power of Attorney and Tax Information Authorization requests directly to a taxpayer’s individual IRS Online Account. Once the taxpayer approves the request, it’s processed in real time.
For d...
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When to File a Business Identity Theft Affidavit with the IRS
The IRS and its Security Summit partners continue to see identity theft schemes targeting businesses. Report possible business identity theft to the IRS with Form 14039-B, Business Identity Theft Affidavit.
File Form 14039-B if your business receives a notice about a:
Rejected e-filed return because a return on file for that same period.
Tax return your business didn’t file.
Form W-2 filed with the Social Security Administration that your business didn’t file.
Balance due that isn’t owed.
For more details, visit Identity Theft Information for Businesses.
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1099-B, TAEF Recording
1099-B: Reporting Income from Securities and Bonds
Recording from virtual event hosted in December of 2023.
On December 7th, we hosted a 2-hour virtual event live from Savannah, GA, where Amy M. Wall presented on 1099-B. A special thanks to everyone that joined us live!
Because 1099-B: Reporting Income from Securities and Bonds is such a complex topic, we felt it was important to make the recording from this event readily available to all tax preparers before TY23 officially kicks off. If you are interested in accessing this content, simply follow directions below. We hope you find th...
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Watch Out for Tax Scams and Report Fraudulent Messages
The IRS and its Security Summit partners remind you to watch out for a variety of aggressive schemes that may arrive in email, by text, over the phone or through the mail.
If you get one of these messages, don’t reply or click the link. Report the scam by sending the email or a copy of the text to phishing@irs.gov:
Phishing: An email sent by fraudsters claiming to come from the IRS. The email lures the victims into the scam with a variety of ruses such as enticing victims with a phony tax refund or frightening them with false legal or criminal charges for tax fraud.
Smishing: A text...
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Stop Chasing Paper, Start Offering eSignature – Webinar Recording
Stop Chasing Paper - Start Offering eSignature
Recording from webinar hosted by TaxAct Professional and DocuSign®.
On December 14th, TaxAct Professional partnered with DocuSign® to host a brief 1-hour virtual event on eSignature. A special thanks to everyone that joined us live!
Because we continue to grow and improve our integrated eSignature tool, we felt it was important to make the recording from this webinar readily available to all TaxAct Professionals as the next tax season nears. Interested in accessing this content? Simply follow the directions below...
What's Included:
V...
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Tax Pros: Encourage Your Clients to Create an IRS Online Account
The IRS and its Security Summit partners ask you to encourage your clients to create an IRS Online Account.
This tool provides your clients with a simple and secure way to go online and get their latest payment history, balance and more. They can even approve and electronically sign Power of Attorney and Tax Information Authorization requests, which can make your job easier.
An IRS Online Account usually takes only 5 to 10 minutes to set up. It uses a two-factor authentication process that protects personal information. Once your client creates an account, scammers can’t create a fraudulent ...
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Avoid Fraud and Tax-Related Identity Theft with an IP PIN
The IRS and the Security Summit partners encourage you to join the Identity Protection Personal Identification Number (IP PIN) program.
An IRS IP PIN is a special six-digit number that helps prevent criminals from filling fraudulent federal income tax returns or stealing refunds using your personal information. IP PINs are unique because they are known only to the you and the IRS.
You can get an IP PIN if you have a Social Security number (SSN) or an Individual Taxpayer Identification Number (ITIN) and can successfully verify your identity.
The easiest and fastest way to get an IP PIN is wi...
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Protect Your Business Against Data Loss and Fraud
The IRS and its Security Summit partners encourage you to follow these data loss and fraud best practices from the Federal Trade Commission:Set security software to update automatically.Back up important files.Require strong passwords for all devices.Encrypt devices.Use multi-factor authentication.Cyber criminals target businesses of all sizes. Knowing some cybersecurity basics and putting them in practice will help you protect your business and reduce the risk of a cyber-attack.For more details, visit the FTC's Cybersecurity for Small Businesses.
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2023 Tax Season Updates – Webinar Recording
Important Updates to Prepare for in TY23
Recording from webinar hosted on November 15, 2023.
On November 15th, we held a 2-hour virtual event, hosted by Amy M. wall, where pros came together to learn about the must-know updates for TY23. A special thanks to everyone that joined us live!
Because this content is so complex and important, we wanted to make sure its was readily available for everyone to access post-event. So, we’ve gone ahead and taken the recording from this webinar, and have made it available on-demand for you to enjoy at your leisure. Interested in accessing this content...
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Filing Schedule C for Microbusinesses – Webinar Recording
New Webinar on Filing Schedule C
Recording from virtual event hosted on October 24, 2023.
On October 24th, we held a 2-hour virtual event, hosted by Amy M. wall, where pros came together to dive into the deep waters of Schedule C, and Profit or Loss from Businesses (Sole Proprietorship). A special thanks to everyone that joined us live!
Because this content is so complex and important, we wanted to make sure its was readily available for everyone to access post-event. So, we’ve gone ahead and taken the recording from this webinar, and have made it available on-demand for you to enjoy at...
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Navigating Federally Declared Disasters as a Tax Preparer
Navigating Federally Declared Disasters as a Tax Preparer
More and more we are seeing federally declared disasters in the US. In 2022 18 states were granted tax relief provisions due to disasters. In 2021 it was 17 states. These disasters are occurring more frequently, and they can be emotionally and financially overwhelming for taxpayers. Often, the IRS and local tax authorities provide tax relief for taxpayers affected by disaster situations. Most of the time this relief will come in the form of additional time to file and pay taxes. Additionally, there can be the claim of losses on tax ret...
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What’s New for TY23 – TAEF Recording
What's New for TY23 and Demo
Recording from virtual event hosted in August of 2023.
On August 17th, we held a 2-hour virtual event, live from Los Angeles, CA, where industry experts came together to help tax professionals prepare for the upcoming tax season. A special thanks to everyone that joined us live!
Because this content is so important for ALL tax preparers, we wanted to make sure its was readily available for everyone to access post-event. So, we've gone ahead and taken the recording from the "What's New for TY23" presentation, and have made it available on-demand. If you are...
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The Importance of Tax Planning – TAEF Recording
Grow Your Business with Tax Planning
Recording from virtual event hosted in August of 2023.
On August 17th, we held a 2-hour virtual event, live from Los Angeles, CA, where industry experts came together to help tax professionals prepare for the upcoming tax season. A special thanks to everyone that joined us live!
Because this content is so important for ALL tax preparers, we wanted to make sure its was readily available for everyone to access post-event. So, we've gone ahead and taken the recording from the "Tax Planning" presentation, and have made it available on-demand. If you ar...
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Free Tools, Tables, and Worksheets for Your Practice
Downloadable Tools, Tables, and Worksheets
Compliments of TheTaxBook and TaxAct Professional
TaxAct Professional will be working with TheTaxBook again this tax season! Because of this… Any TaxAct Professional customers, who purchase TheTaxBook’s WebLibrary Plus1 for TY23, will receive their award-winning tax research solution at a discounted rate of $249 (regular price -$319).
Last year TaxAct Professional and TheTaxBook provided pros with a glimpse into TheTaxBook’s resources, for free. Because this was so well received, we have decided to do this again for 2023, so that you can see for yo...
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