TaxAct 2020 Professional Editions Version 1.01 Update

Version 1.01 is now available for all TaxAct 2020 Professional Federal Editions. This update includes: Enabling the use of Schedule K-1 Import and Export Enabling e-filing of Form 990 and the use of its signature forms. Enabling of Stock Import through CSV files Enabling the Printing of Form 8879-S without a "Do Not File" watermark Updated the recovery rebate credit worksheet to match the latest IRS Draft Other minor bugs and enhancements. State Editions will continue to be released over the next weeks. Visit the State Release Dates page to see the current anti...
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TaxAct 2020 Professional Editions Version 1.0 Update

Version 1.0 is now available for all TaxAct 2020 Professional Federal Editions this update includes: E-filing for the following: 1040 Federal 1065 Federal 1120 Federal 1120S Federal Note: The IRS has not yet announced when they will open for the tax year 2020. Any returns submitted will be held until the IRS starts processing. In addition, the IRS has not yet released final versions of the 8879 forms for 1040 or 1120S. The versions of these forms currently available are updated for 2020 based on the latest draft available from the IRS. They are available to you to pri...
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TaxAct 2020 Professional Editions Version .92 Update

Version .92 is now available for all TaxAct 2020 Professional Federal Editions. This update includes: Bookmarks The user interface has been improved and the limitation of 20 bookmarks has been removed (previously released with version .91). Minor fixes and enhancements TaxAct 2020 Professional can automatically check for updates by selecting Tools –> Options, and selecting “If already connected to the internet, automatically check for updates on program startup.” You can also check for software updates at any time by selecting Online –> Check for Updates.
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Welcome to TaxAct 2020 Professional Editions

We know you have options when it comes to selecting professional tax preparation software. Thank you for choosing TaxAct 2020 Professional Editions. We are continually working to improve our software to help Tax Professionals like you to be more efficient and effective, and to provide a product you and your clients can trust. Throughout the tax year we will make information available to you using the Notification Center within TaxAct 2020 Professional. Subjects will include enhancements, updates, and form availability, among other things. The following TaxAct 2020 Professional Editions a...
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Version 1.25 (1040), 1.17 (1065, 1120, 1041), 1.16 (1120-S), and 1.14 (990) Update

Version 1.25 for 1040, 1.17 for 1065, 1120, & 1041, 1.16 for 1120-S, and 1.14 for 990 are now available for TaxAct 2019 Professional Federal Editions. These updates include: Data Management Tool This tool can be used to permanently delete Clients, Logs, and Online Backup data stored online. Open the tool by navigating to Tools > Data Management Tool… By default, only practice owners have the permission enabled to use the Data Management Tool. Practice owners can assign the “User can access Data Management Tool” in the Preparer’s Permissions page to allow other users to use thi...
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Version 1.22 (1040), 1.15 (1065, 1120, 1041), 1.14 (1120-S), and 1.12 (990) Update

Version 1.22 for 1040, 1.15 for 1065, 1120, & 1041, 1.14 for 1120-S, and 1.12 for 990 are now available for TaxAct 2019 Professional Federal Editions. These updates include: Added a link on the introduction screen of the Amended Federal Return process to allow you to go directly to printing and e-filing Form 1040-X. Minor bug fixes & optimizations
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Version 1.19 (1040), 1.14 (1065, 1120, 1041), and 1.13 (1120-S) Update

Version 1.19 for 1040, 1.14 for 1065, 1120, & 1041, and 1.13 for 1120-S are now available for TaxAct 2019 Professional Federal Editions. These updates include: This update also enables the following federal forms and features that weren’t available in a prior 2019 version: Form 8915-C - Qualified 2018 Disaster Retirement Plan Distributions and Repayments Form 8915-D - Qualified 2019 Disaster Retirement Plan Distributions and Repayments Updates to Form 2555 - Foreign Earned Income for COVID-19 relief Minor bug fixes & optimizations
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Version 1.12 (1040) 1.07 (1065, 1120, 1120-S, 1041, 990) Update

Version 1.12 for 1040 and 1.07 for 1065, 1120, 1120-S, 1041, and 990 are now available for TaxAct 2019 Professional Federal Editions. These updates include: Changes required due to the Payment & Deadline extension moving to 7/15/20 Additional changes for 1040 Form 4868 and IRA/HSA/MSA/ESA contributions Initial updates for 1120, 1120-S, 1041, & 990 Replace Form W-4 with IRS Tax Withholding Estimator TaxAct will no longer be supporting Form W-4, but will include a link to the IRS Tax Withholding Estimator to determine if the taxpayer should complete a new Form W-4, Employe...
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Version 1.11 for 1040 – Payment & Deadline Extension Updates (COVID-19)

Version 1.11 for 1040 is now available for TaxAct 2019 Professional Federal Edition. This update includes: Changes required due to the Payment & Deadline extension moving to 7/15/20 This includes being able to select an automatic withdrawal date post 4/15/20 Note: Similar updates for Federal 1120, 1120-S, 1041, and 990 are tentatively planned for next week. State Editions updates will also be available over the next couple weeks. What these changes mean for 1040 federal returns: Federal 1040 tax returns are not officially due until July 15, 2020. Taxpayers are subject to lat...
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