Getting your Enrolled Agent Credential

TaxAct Professional has partnered with Surgent Professional Education to offer you an Enrolled Agent Exam Review course, an invaluable asset to your tax preparation business. This course provides unlimited online access to all course materials, including up-to-date IRS publications, Complete Text, Simulated Exams, Adaptive Learning Technology, and a Pass/Refund Guarantee. The Enrolled Agent Exam Review contains over 1,800 multiple choice questions, which is part of the reason that 80% of Surgent users pass the EA exam. With Surgent’s EA Exam Review course, you’ll be fully equipped to pass ...
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Exciting new enhancements to TaxAct Professional software arriving for tax year 2019

Over the past year, TaxAct has been hard at work improving our software in order to better serve you and your clients. In fact, we’re excited to announce some of our latest developments now ahead of the coming tax season. First, the newest versions of TaxAct Professional will offer even simpler downloading and installation. We’re making it easier than ever to quickly set up and access your software with a highly streamlined process. Faster installation and downloading means a hassle-free start to a more productive season. Serve your clients’ needs more efficiently and save your own valuable...
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Take your business to the next level: Become an Enrolled Agent

Looking for opportunities to increase client engagement and billable hours? Consider becoming an enrolled agent (EA). EA certification is the highest tax credential awarded by the IRS. In fact, EAs are the only professionals that the U.S. government directly grants the right to practice. The reasons to become an EA are numerous, as are the tangible benefits to your business. The ability to offer unrestricted representation, for example, is a major incentive for many professionals in the tax preparation industry. Federal law only grants EAs, licensed attorneys, and CPAs the right to represen...
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Do you have your EFIN? Here’s what you need to know

It’s no secret that the IRS processes e-filed returns more quickly and with fewer inaccuracies as compared to paper returns received via mail. Taxpayers also tend to receive their refunds faster when their returns are e-filed, making Authorized IRS e-file Providers a more favorable choice come tax time. In fact, even the IRS prefers e-filed returns over paper documents submitted by mail. In order to electronically file returns, tax preparers need an Electronic Filing Identification Number (EFIN). When the IRS assigns an EFIN to a tax professional, that individual or business officially beco...
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New system requirements – Upgrade to Microsoft Windows 10

On January 14, 2020, Microsoft will put an end to security support and updates for PCs running Windows 7. To avoid security risks and viruses, Microsoft recommends upgrading to Windows 10 now. In addition to improving security, Windows 10 offers additional productivity features, compatibility tools, and deployment resources to support your business. We know that many tax preparation professionals utilize Windows 7 for their business needs, and TaxAct wants to ensure you have time to plan for this system requirement change. Upgrade to Windows 10 today to continue receiving regular Microsoft...
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Securing Client Data

The ability to send and receive documents electronically has changed the way professional tax preparers do business. It has also opened the door to potential fraud and security breaches if proper precautions aren’t taken. Sending and receiving tax documents using unsecured unencrypted email or fax makes both you - the tax professional - and your clients an easy target for cybercriminals. Protecting taxpayer data isn’t just a strong suggestion or good business practice…it’s the law. According to the FTC Safeguards Rule, tax return preparers must enact security plans to keep customer information...
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Taxpayer First Act of 2019 Headed to President’s Desk

Last week the US Senate passed the Taxpayer First Act of 2019, a package of IRS reform legislation intended to redesign the Internal Revenue Service (IRS). The House also passed the legislation for the second time last week. The bill, which contains many provisions, establishes an independent office of appeals within the IRS, requires the IRS to submit to Congressional plans to restructure the IRS to modernize technology systems and enhance cybersecurity. The bill will allow the IRS to improve efficiency, better meet taxpayer needs, and requires the development of a comprehensive customer ser...
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TaxAct Professional 2019 Trade Show Schedule

Now that tax season is over, in the midst of finishing up extensions that need to be filed, many Tax Professionals are turning their attention to planning for next year, earning continuing education credits, and finding ways to be more efficient and productive to grow their practices. Attending industry trade shows is one of the best ways to accomplish all of these. In 2019 TaxAct Professional will be exhibiting at a number of trade shows across the country. We’ll have Pro Team members from Sales, Tax Development, Product Development, and Marketing in the booths to talk to you about ...
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Missed Filing Deadline? Here’s What Your Clients Need to Know

Missed Filing Deadline? Here’s What Your Clients Need to Know Tax professionals - another tax season has passed, the filing deadline has come and gone. If you have clients who didn’t file a tax return or an extension but should have, they need to take action now. Here are some tips you can provide to help them. There is no penalty for filing a late return after the tax deadline if a refund is due. If someone didn’t file a return or an extension and they owe taxes, they should file a return as soon as possible and pay as much as possible to reduce penalties and interest. If your client o...
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The Tax Deadline is Upon Us…Don’t Wait to File!

It’s no secret that tax returns are due on Monday, April 15th for most individuals and businesses. We wanted to provide a couple of pieces of advice for you. Printed Returns We know most people don’t file paper returns, but there are some who still do. For mailed returns, the April 15th tax deadline doesn’t refer to when your tax return is received; it refers to the date the tax return is postmarked. If you use US Mail to send your return on April 15th and the Internal Revenue Service (IRS) receives it after that date, you’re still considered to have filed on time. The key is ensuring yo...
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What To Do If You Owe The IRS

We’re hearing from many of our Tax Professionals that, due in part to the 2017 Tax Cuts and Jobs Act, many of their clients either owe tax bills they didn’t expect or they are receiving lower-than-expected refunds. Owing a tax bill can be frustrating. The good news is that if you find yourself in this situation, all hope is not lost. First and foremost, even if you can’t pay the tax money you owe, file your return by the April 15 deadline! Penalties for not filing a tax return or extension are higher than penalties for not paying taxes owed. Fortunately, you have options: Online Paymen...
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Claiming Dependents on Your 2018 Tax Return – What You Need To Know

It’s not surprising that Tax Reform has muddied the waters for Tax Year 2018, especially since personal exemptions were suspended this year. What has been surprising is that lately the TaxAct® Professional Customer Support Center has received questions from Tax Professionals asking how to determine whether or not a client of theirs can claim someone as a dependent. Fortunately, the IRS offers an Interactive Tax Assistant (ITA) tool on their website that, along with answering other questions, includes a set of tests to determine who can and cannot claim be claimed as a dependent on a tax return...
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To File or Not to File…That is the Question

With the changes introduced by the 2017 Tax Cuts and Jobs Act, also known as Tax Reform, there’s a lot of confusion this tax season. There are a few questions we’ve heard over and over: How does Tax Reform impact potential tax refunds? And, what happens if someone owes more than they thought they would? One of the most significant things tax payers should be aware of is that penalties for not filing a tax return or tax extension are higher than penalties for not paying taxes owed. Because of that, it’s important that taxpayers not miss a filing deadline if they owe taxes, even if they can’t pa...
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TaxAct 2018 Professional Preparer Invitation Process

During tax season it’s important to have all hands on deck…everyone coming together to help make the season successful. It’s also important during this busy time to ensure you don’t put the security of the data you are managing at risk. A change made this year to TaxAct Professional will help. In our 2018 software TaxAct implemented single device sign-on, which doesn’t allow multiple users to sign into the software concurrently from different devices using the same login credentials. While sharing login credentials seems harmless, there are reasons it was important for us to update TaxAct P...
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Get the Help You Need with TaxAct Professional

Tax season is in full swing, and we know our Pros are heads down working hard for your clients. If you have questions or need assistance with TaxAct® 2018 Professional, we have several ways to help you. Online We continue to build out our FAQs to save you time. Our most recent update can help with practice setup and linking accounts. You’ll also find information on: Getting started Log-in Issues Account maintenance E-file IRS/State filing We also offer videos and webinars for you. Subjects covered include setting up master billing info, customizing your info and prefe...
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