IRS Annual 1040 E-file Shutdown on 11/20/21

Posted on by Rick Mooberry
The annual IRS 1040 Modernized e-File system (MeF) production shutdown will start November 20, 2021, as they prepare the system for the upcoming tax year 2019 filing season. To ensure your clients' 1040 returns are processed timely, they will need to be submitted on or before 9 PM Central Time on November 20, 2021. Because the IRS only allows for filing the current tax year plus 2 years prior, this is your last chance to e-file 2018 returns. After the production shutdown, any remaining 2018 returns will need to be filed by paper. Please monitor the MeF Operational Status page for any upd...
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IRS Update: IRS to recalculate taxes on unemployment benefits; refunds to start in May

Posted on by Rick Mooberry
The IRS has announced it will take steps to automatically refund money this spring and summer to people who filed their tax returns with unemployment compensation.  They will take steps to make the appropriate change to the returns, which may result in a refund. The first refunds are expected to be made in May and will continue into the summer. Click here for more information from the IRS.
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IRS Update: E-File Extended Maintenance Window on March 7th

Posted on by Rick Mooberry
The IRS has announced the e-file system will be unavailable for a system upgrade from 12:01 a.m. Eastern through 10:00 a.m. Eastern on Sunday, March 07, 2021. While you can still submit e-filed returns, you will not receive acknowledgments during the system shutdown period. This affects all tax years and all form types that are currently able to be e-filed.
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IRS Update: 2021 Tax Filing Season Begins February 12th

Posted on by Rick Mooberry
The IRS announced that the tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns. Note: The IRS anticipates a first week of March refund for many EITC and ACTC taxpayers if they file electronically with direct deposit and there are no issues with their tax returns. Please visit the IRS's News Release for more information.
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IRS Update: Delivery of the Second Round of Stimulus Payments

Posted on by Rick Mooberry
The Internal Revenue Service and the Treasury Department will begin delivering a second round of Economic Impact Payments as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 to millions of Americans who received the first round of payments earlier this year. Click below to read the IRS's new release. Treasury and IRS begin delivering a second round of Economic Impact Payments to millions of Americans
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Tax Day now July 15: Treasury, IRS extend filing deadline and federal tax payments regardless of amount owed

Posted on by Matthew Davis
The Treasury Department and IRS announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax. Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax fil...
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New PTIN Verification Requirements for Tax Preparation Professionals

Posted on by Matthew Davis
As you may know, the IRS now requires all tax software to request additional PTIN verification from tax preparation professionals. It is necessary for each preparer to simply check a box verifying that their PTIN is accurate and that they are indeed the registered owner. Fortunately, TaxAct® Professional makes this step quick and easy: In the Basic Information section of the Preparer Info page, enter your name, SSN, and PTIN as normal. Directly to the right of the PTIN field, you’ll see an empty checkmark box accompanied by text that reads “I verify this PTIN is accurate and the associate...
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IRS Officially Open for 1040 e-Filing

Posted on by Matthew Davis
The IRS is now processing all individual returns starting today, Monday, January 27. As the IRS begins processing returns, acknowledgments may be unpredictable due to the high volume of returns being processed. Note: The IRS is in the process of updating the MeF system to allow for the recent extender legislation. In addition, taxpayers who claim the Earned Income Tax Credit or the Additional Child Tax Credit may experience a refund hold. According to the Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue these refunds before mid-February. The IRS expects the first EIT...
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IRS Opens E-filing on January 27

Posted on by Matthew Davis
We know your clients are curious: “When will the IRS start accepting returns?” The Internal Revenue Service confirmed in early January that tax season will start for individual tax return filers on Monday, January 27, 2020, when the tax agency will begin accepting and processing 2019 tax year returns. With TaxAct Professional, you can submit returns as soon as they’re complete — we’ll hold them securely until the IRS begins processing on the January 27.  
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Reminder: 11/16/19 IRS Annual 1040 e-file Shutdown

Posted on by Matthew Davis
The annual IRS 1040 Modernized e-File system (MeF) production shutdown will start this Saturday, November 16 as they prepare the system for the upcoming tax year 2019 filing season. To ensure your clients' 1040 returns are processed timely, they will need to be submitted on or before 9 PM Central Time on Saturday, November 16. Because the IRS only allows for filing the current tax year plus 2 years prior, this is your last chance to e-file 2016 returns. After the production shutdown, any remaining 2016 returns will need to be filed by paper. The IRS has also confirmed the annual MeF producti...
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Starting July 18: Extended Shutdown for IRS Modernized e-File (MeF) System Upgrade

Posted on by Matthew Davis
The IRS has announced the MeF system will be unavailable for a system upgrade during the following times: 12 am July 18 - 12 pm July 22 Eastern time 12 am August 3 - 12 pm August 5 Eastern time While you can still submit e-filed returns, you will not receive acknowledgements during the system shutdown periods. This affects all tax years and all form types that are currently able to be e-filed (2018, 2017 and 2016).
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