Are You Offering Refund Transfers to Your Clients?

Make sure you’re taking advantage of our great offers! What is a tax-related Bank Product? Bank Products* are services that tax preparers can offer to their clients. A Pay-by-Refund1 allows tax preparation and other authorized fees to be deducted from your client’s tax refund. This product allows taxpayers to use tax-prep services without paying tax preparation-feesAre upfront. Pay-by-Refund1 allows the taxpayer’s refunds to be direct deposited from the IRS or State instead of having to wait for a mailed check from the IRS. Why offer Pay-by-Refund? Benefits to the Taxpayer No ...
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FREE Downloadable Tax Calendar

FREE Downloadable Tax Calendar May 2023 - April 2024 We know that being a tax preparer is incredibly stressful and busy, to say the least. To help you save time and energy when it comes to remembering dates and deadlines, TaxAct Professional has put together a calendar for you to download (for free) and immediately begin implementing at your tax practice. After all… As you work on wrapping up TY22 and begin preparing for TY23, the last thing you want to do is make sure your calendar is updated. Let us do the heavy lifting – you deserve to sit back, relax, and enjoy a few moments of peace ne...
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New Updates. Great Value.

We’ve been planning and working to improve TaxAct Pro Software for next tax season. Here are the top new highlights for TY23: eSignature Integration – Use electronic tax signing software to get everything signed and tracked from anywhere. That’s ANY tax document, not just 8879. Expanded forms and e-file coverage – Like every year, we continually add updated forms and expand our e-file coverage. Enhanced data access – Better data visibility means you can make smarter business decisions. Bilingual client-facing templates and documents – You can better serve your Spanish-speaking cust...
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How to Find Success with Bank Products

Disclaimer: Opinions expressed by Ms. Sarkissian are solely her own and do not necessarily express the views or opinions of TaxAct Professional. Truthfully, when I first heard the term “bank products” I had no clue what it meant. Why would I want to involve a bank in my business of filing tax returns? However, once I learned about what a bank product is and does, and I implemented it into my practice, I found it to be a very valuable add-on service that I can offer my clients. In simple terms, a bank product allows your client to opt out of paying your fee up-front and instead choose to have ...
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The IRS Increased Mileage Rates for Final Few Months of 2022

Due to the rise in fuel costs, the IRS adjusted standard mileage rates for the second half of 2022 Per the IRS, the optional standard mileage rate increased for the final six months of 2022. The deductible costs of driving a car for work or other purposes can be calculated by taxpayers using the optional standard mileage rates. The standard mileage rate for business travel in the final six months of 2022 is 62.5 cents per mile, an increase of 4 cents over the rate at the beginning of the year. The new rate for relocating or medical expenditure deductions (eligible to active-duty military p...
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Stay Compliant with eSignature – On-Demand Webinar

Stay Compliant with eSignature An On-Demand Webinar, Hosted By: TaxAct Professional and DocuSign Our new integrated eSignature offering, backed by DocuSign, makes it easier for you and your clients to get the signature you need to e-file. And it also helps you stay compliant! On Thursday, January 12th, 2023, TaxAct Professional and DocuSign hosted a brief 1-hour webinar, where we provided an in-product eSignature demo, an overview of eSignature compliance, and a customer experience demo from DocuSign. Then, our team wrapped this webinar by providing attendees with information on purchasing ...
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Basics and Beyond of Crypto Taxation: What Preparers Need to Know

Crypto Taxation Basics and Beyond: What Preparers Need to Know Crucial Knowledge for Tax Preparers Going Into TY22 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 the t...
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Important Information for Next Tax Season!

Important Information for Next Tax Season! Tax Changes and gearing up for TY22, written by Nyrie Sarkissian, a fellow Tax Professional. Gearing Up for TY22 By: Nyrie Sarkissian TY22 is coming. That means it is almost our time to shine! But are you prepared to do your best? Many people ask me how I prepare for the start of a new tax season. My process begins and ends with my checklist, a simple “things to do” list that I can easily go through and complete. I feel confident and prepared once I make sure that I’m ready to hit the ground running when the season starts. Every year I up...
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2022 TaxAct Professional’s Tax Season Readiness Guide

2022 TaxAct Professional's Tax Season Readiness Guide This guide will provide a supplemental framework to help you stay informed, save time on planning, and align your team for efficiency. Whats Inside: Printable TY22 Checklist Key Tax Facts for TY22 Important Calendar Dates What's New TY22 for TaxAct Professional Software Download this Guide:Interested in accessing the content?Please complete the form below.Click download.Once the form has been submitted, your webpage will be redirected to a link where you can download e...
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Seamless eSignature Integration is Here

Seamless eSignature Integration is Here! Plus, it's backed by DocuSign. TaxAct Professional is giving you even more options with Integrated eSignatures.¹ It's easier for you to get the signature you need to e-file and stay compliant with Knowledge Based Authentication (KBA). Learn More and Reserve eSignatures eSignatures are as easy as 1-2-3: Flexible pricing at a discounted rate: Request - send any document to the client. Customer Signs - it's secure and only takes a few clicks. Ready to e-file - once forms are signed, they're ready for the next step. Pay as you...
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Refund Transfer is Great for Your Business

Refund Transfer is Great for Your Business Let your clients file for $0 upfront, earn more money from incentives, and grow your business. What is a tax-related bank product? Bank Products are services that tax preparers can offer to their clients.1 Refund Transfer allows tax preparation and other authorized fees to be deducted from your client’s tax refund. This product allows taxpayers to use tax-prep services without paying tax-preparation fees upfront. Direct deposit allows the taxpayer’s refunds to be direct deposited from the IRS or State instead of having to wait for a mailed che...
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Add an Entire Tax Audit Defense Department to Your Firm Today!

TaxAct Professional® has partnered with ProtectionPlus® Firm-Level Program Provide Protection Plus benefits to all your clients with the Firm-Level plan option. For only $10 per 1040 return, your clients instantly gain additional peace of mind when they file with you. Per-Return Program With the Per-Return plan option, your clients have the option to add Protection Plus at a base price of $44.95. You may also use this as an opportunity to generate additional revenue for your tax business with an optional markup of up to $50. TaxAct has partnered with Protection Plus to provide compr...
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Did You Offer Your Clients Bank Product Services Last Year?

Look out for our Bank Product Enrollment Email in early September! Want to continue offering your customers refund transfers and cash advances? Then it’s almost time to re-enroll in TaxAct® Professional Bank Products!1 (Yes, you must enroll every year — don’t worry, it won’t take long.) It’s easy to re-enroll, at no cost to you, and allows your clients to use tax-prep services without paying all the fees upfront.2 Here’s why you should re-enroll today: Free Software: Get free software if you file over 400 returns, each with a funded refund transfer.3 Incentives: Sign up for TaxAct...
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Tax Pros are Becoming the Number One Target of Identity Thieves

Tax Preparers are among some of the most targeted professionals when it comes to “identity thieves.” The amount of client information that you have access to is why you must take extra precautions to protect your clients' personal data. Per the IRS: “Their tactics: using email, the phone, or other means to trick you into giving up computer passwords, e-Services passwords, to steal your EFINs or CAF numbers or even to take remote control of your entire computer system." "Protecting client data also is the law. Federal Trade Commission regulations require professional tax preparers to create...
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Five Reasons Tax Professionals Should Offer Financial Planning

Five Reasons Tax Professionals Should Offer Financial Planning Sustainability is Key to a Tax Professional's Growth Growing a tax and accounting practice can seem daunting because of the 1:1 relationship between the income you earn and the hours you have put in to earn it. Unlike other small businesses that benefit from passive income streams and other economies of scale, the only way to really grow your tax practice is by adding more clients, which either requires even more hours from you or additional staff to take on the work. Either solution can come at a substantial cost, but there ...
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