Versions 1.17 (1040), 1.13 (1065, 1120), and 1.14 (1041, 1120S) are now available for TaxAct 2018 Professional Federal Editions. These versions include changes due to 2018 Federal Tax Extenders, including the following updated forms:
Form 4136 - Credit for Federal Tax Paid on Fuels
Form 5329 - Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts
Form 5695 - Nonbusiness energy property credit
Form 8835 - Renewable energy, Indian coal facilities credit
Form 8845 - Indian Employment Credit
Form 8864 - Biodiesel and Renewable Diesel Fuels Credit
Form 8...
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Reminder: 11/16/19 IRS Annual 1040 e-file Shutdown
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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Important Form W-7 Information
The IRS released a revised Form W-7 in September 2019, however we will not be updating TaxAct 2018 Professional with this new version.
The updated W-7 will be available with our initial release of TaxAct 2019 the last week of October. Until then, please access the updated W-7 directly from the IRS (PDF) to include with your clients' 2018 paper returns.
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1065 & 1120S Extension Deadline Information
The 1065 and 1120S extension deadline is Monday, September 16. Here are some things to keep in mind as you finish and file your clients’ returns.
The deadline is 12:00 midnight in the filer’s local time zone, but file early if possible.
Be sure any taxes owed have been paid by your taxpayer by the deadline or there may be penalties and interest.
As long as the return is e-filed on time, you will have an electronic filing perfection period to retransmit to address any rejection errors for 10 calendar days (through Thursday, September 26).
If you’re unable to retransmit the e-file to co...
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TaxAct 2018 Professional Editions Update
The following updates are now available for TaxAct 2018 Professional Editions:
Federal 1040 - Version 1.15
Federal 1065 - Version 1.12
Federal 1120 - Version 1.12
Federal 1120S - Version 1.13
Federal 1041 - Version 1.13
Federal 990 - Version 1.12
These updates include:
Security enhancements
TaxAct 2018 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...
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TaxAct 2018 Professional 1040 Edition Version 1.14
Version 1.14 is now available for TaxAct 2018 Professional 1040 Edition. Version 1.14 includes an update for a 1042-S Alert for scholarships not taxable because of Treaty Form 1040NR-EZ.
TaxAct 2018 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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Starting July 18: Extended Shutdown for IRS Modernized e-File (MeF) System Upgrade
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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Resolved: Issue with “Warning: Signed In on Another Device” message
At approximately 9:15 CDT this morning, there was a server issue that caused the inadvertent message below to appear upon signing into TaxAct 2018 Professional Editions along with other potential inconsistent behavior. The issue has since been corrected and you should now be able to sign in normally.
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TaxAct 2018 Professional Editions Versions Federal 1040: 1.13 and Federal 1041: 1.12 Updates
Versions 1.12 and 1.13 are now available for TaxAct® 2018 Professional Federal Editions. These updates include:
Schedule D - Updated to reflect IRS correction to error in Schedule D tax calculation worksheet for Forms 1040 (v 1.13) and 1041 (v 1.12).Zip Code Lookup - Fixed bug that was causing zip code lookup to fail in Client Information popup window (v 1.13).
TaxAct 2018 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 sof...
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System Maintenance Scheduled for 04/23/2019
TaxAct will be performing scheduled maintenance on the following day:
Tuesday, April 23, 2019, from 4 AM - 8 AM Central Daylight Time
During this time you will not be able to access the TaxAct Professional software or website. Thank you for your patience as we work to keep our systems ready to support you.
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System Maintenance Scheduled for 04/17/2019
TaxAct will be performing scheduled maintenance on the following day:
Wednesday, April 17, 2019, from 4 AM - 7 AM Central Daylight Time
During this time you will not be able to access the TaxAct Professional software or website. Thank you for your patience as we work to keep our systems ready to support you.
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Filing an Extension – Form 4868 – in TaxAct Professional Editions
To complete Form 4868 (Automatic Extension of Time To File) within your TaxAct Professional Edition:
Open the client return by double-clicking the client's name in Client Manager.
Click Return in the top menu.
Click Application for Extension.
Choose Federal or State (choose which state if you have more than one; in some cases choose City).
This will take you to the Q&A method of filing the extension, where you can follow the prompts to complete the form.
If you prefer to use Forms View:
Open the client return by double-clicking the client's name in Client Manager.
...
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Avoid Challenges by Filing Early
We know how busy you are, and the weekend will be hectic. As we prepare for Tax Day on Monday we encourage you to not wait until late in the day on April 15th to print or submit returns, as we want to help you avoid challenges you might run into. Complications can be submission issues, internet connectivity, system outages, or unexpected e-file rejections by the IRS.
The TaxAct® Professional Support Center will operate on the following extended hours through tax filing deadline. Hours are Central Daylight Time.
April 13, Saturday: 9 am – 8 pm
April 14, Sunday: 10 am – 8 pm
April ...
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Credit and Debit Card Payment Submissions Through TaxAct Professional
It has come to our attention that some of our Tax Professionals may be experiencing issues with Value Payment Systems (VPS) within TaxAct® 2018 Professional.
Do not select the "Pay Now" option within TaxAct Professional, as these payments will not be processed completely even if you see a hold placed on credit or debit card. This hold may be in place for up to eight days.
To pay a client's balance due using a credit or debit card:
Select the "Pay Later" option within the software and go directly to payUSAtax to complete those payments.
Alternatively, tax payments may be made th...
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Closing Out the Season
We know how busy you are, and the weekend will be hectic. As we prepare for Tax Day Monday, we encourage you to not wait until late in the day on April 15th to print or submit returns to avoid challenges you might run into. Complications can include submission issues, internet connectivity, system outages, and unexpected e-file rejections by the IRS.
The TaxAct® Professional Support Center will operate on the following extended hours through tax filing deadline. Hours are Central Daylight Time.
April 13, Saturday: 9 am – 8 pm
April 14, Sunday: 10 am – 8 pm
April 15, Monday: 8...
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