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, and government entitlement programs. This webinar reviews the structure and operation of these programs and discusses how recent legislative and administrative developments may affect client p...
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The Hidden Factor in Tax Software: Customer Support That Delivers
Even a minor issue can cost hours, delay returns, and frustrate clients. That’s why customer support is one of the most critical (and overlooked) factors when evaluating tax preparation software.
Here is some advice on what to look for:
1. Reliable Response Times
If you’re facing an e-file rejection, software glitch, or compliance question, waiting hours or even days for help doesn’t help you.
What to look for:
Extended support hours during peak season
Minimal hold times
Multiple contact channels (phone, chat, email)
Why it matters:
A delay in resolving issues can ripp...
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IRS Late Filing & Payment Penalties: What Tax Professionals Need to Know
It remains essential for tax professionals to stay current on IRS penalties for late filing and payment. A clear understanding of these penalties helps you guide clients effectively and minimize unnecessary financial consequences.
Failure-to-File Penalty
If a taxpayer does not file their federal tax return by the due date (typically April 15), the IRS may impose a failure-to-file penalty.
Rate: 5% of unpaid taxes for each month (or part of a month) the return is late, up to a maximum of 25%
Minimum Penalty: For returns filed more than 60 days late, the minimum penalty is th...
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Missing Tax Docs? File Now or Fix It with Amended Returns Later
Every filing season, tax preparers encounter clients who are missing key documents such as W-2s, 1099s, or other income statements. While the IRS provides general guidance, tax professionals need a more strategic approach: balancing compliance, deadlines, and client expectations.
Here’s how to handle missing tax documents and when to file an amended tax return .
Start with Due Diligence: Confirm What’s Actually Missing
Before taking action, verify whether documents are truly missing or simply delayed. Encourage clients to:
Check online payroll portals or financial accounts
Confirm...
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The Busy Tax Season Is Over: What’s Next for Tax Pros?
The deadline has passed. The long nights, constant filings, and endless client calls are finally behind you. For many tax professionals, this moment brings relief, but also a critical question:
What should you be doing now to set yourself up for an even better next season?
The post-tax-season window is one of the most valuable (and underutilized) opportunities to improve efficiency, strengthen client relationships, and grow your practice.
Here’s how to make the most of it.
1. Conduct a Post-Season Review
Before shifting gears, take time to evaluate what worked and what didn’t.
As...
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Batch E-File 1040 Extensions
Batch e-file extensions are available now for 1040 returns with $0 owed! For more information on this new feature, please go to https://www.taxact.com/support/45404/2024/professional-editions-batch-e-file-1040-extensions.
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How Tax Professionals Can Navigate the IRS During Peak Season
How Tax Professionals Can Navigate the IRS During Peak Season
For preparers, knowing the right IRS resources and when to use them can help you save time and keep returns moving through the pipeline.
Below is a guide to the most useful IRS contact options and strategies tax professionals rely on during the busiest part of the filing season.
Start with the Practitioner Priority Service (PPS)
The Practitioner Priority Service (PPS) is typically the fastest way for tax professionals to resolve account-related issues with the IRS.
Practitioner Priority Service Phone Number: 866-8...
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After Tax Season Ends, Cybersecurity Shouldn’t
The Top 3 Cyber Risks Facing Tax Firms This Season — and What to Do First
Tax season brings tight deadlines, long hours, and constant communication with clients. It also brings something else: increased cyberattacks.
Criminals know tax offices are moving quickly and handling sensitive financial data. That combination makes firms especially attractive targets. The reality is that most successful attacks don’t start with sophisticated hacking — they start with a stolen login, a rushed click, or an unverified request.
The encouraging news? You don’t need to be an IT specialist to dramatica...
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Ohio IT 1040 – Processing Update
We were recently notified of an issue impacting Ohio individual returns. Due to a processing issue, all Ohio IT 1040 returns are currently being rejected in error.
The Ohio Department of Taxation has temporarily suspended processing of Ohio IT 1040, IT 10, and SD 100 returns while the issue is being resolved.
Impacted returns will be retransmitted once the issue has been resolved.
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Estate Planning After the “One Big Beautiful Bill”: What TaxAct Professionals Need to Know
When the Tax Cuts and Jobs Act (TCJA)* — famously dubbed the One Big Beautiful Bill Act, now called the Working Families Tax Cut Act — was signed into law, it reshaped the estate and gift tax landscape almost overnight. The ripple effects are still very much in play, especially as sunset provisions approach and clients reassess long‑term plans.
This post breaks down what changed, what’s still in effect, and how tax professionals can guide clients through smarter estate planning decisions in today’s environment.
A Quick Refresher: What the TCJA Changed for Estate Planning
The mos...
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IRS Research & What Tax Pros Should Watch in 2026
IRS Research & What Tax Pros Should Watch in 2026
As the 2026 tax season begins, professional tax preparers face a shifting compliance landscape shaped by new IRS research, audit priorities, and taxpayer behavior. Understanding these changes is key to helping clients avoid costly mistakes — and keeping your practice efficient and audit-ready.
1. IRS Audit Shifts: More Focus on High-Income and Complex Returns
Recent enforcement updates from the IRS point to a continued pivot toward auditing higher-income individuals, passthrough entities, and complex business returns. This stem...
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Form 8879 Printing Issue
We are aware of an issue where a not approved message may be encountered when attempting to print form 8879 from the print center, while doing a custom print, or directly from the form. We are working to correct the issue.
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Colorado e-File – Acks and Processing
The Colorado Department of Revenue (DOR) expects to begin issuing electronic filing acknowledgments (acks) for returns on or after the dates listed below:
Individual and Corporate returns: January 26, 2026.
S Corporation and Partnership returns: January 30, 2026.
Fiduciary returns: February 4, 2026.
While you will receive acknowledgments from the state, they will not begin processing e-filed returns until later. As a result:
Acks for some returns may still be delayed or continue to show as pending during this initial period.
Refunds will be delayed.
Direct debit paymen...
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SALT Deduction Changes for 2025: What Tax Professionals Need to Know
Recent legislation temporarily expands the SALT deduction cap, creating new planning opportunities — particularly for higher-income taxpayers and clients in high-tax states.What’s Changing in 2025For tax years 2025 through 2029, Congress increased the SALT deduction cap under the One Big Beautiful Bill Act (also known as the Working Family Tax Cut Act).Key changes include:· The SALT cap increases to $40,000 for married filing jointly and $20,000 for married filing separately· The expanded cap is phased down for taxpayers with MAGI above $500,000 ($250,000 for MFS)· Both the c...
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Tax Season Readiness Guide – TY25 – With One Big Beautiful Bill Act Updates
Our new Tax Year 2025 Season Readiness Guide is here. The guide includes important calendar dates, direct resources that are available, and also updated guidance for the One Big Beautiful Bill Act.
What’s the purpose of the Tax Season Readiness Guide?
To help alleviate some of the stress that comes with prepping for the upcoming tax season, we have created an updated season readiness guide every tax season. The information is important for you and your tax firm in order to help prep and stay ahead of the coming tax season. Plus, it’s a great resource for you to utilize in the depths of tax s...
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