American Rescue Plan Act
The American Rescue Plan was signed today. What does that mean to us preparing tax returns? Here is the bill full text. You can use the links in the site to go to sections. https://www.congress.gov/bill/117th-congress/house-bill/1319/text Included is the unemployment...
Software Update – 1/23/2021
Now that season is going. We would like to update you on some additional helpful hints: – We do support by Calls, Tickets, Emails and Chat. During our business hours, the chat feature of our support widget gets directly to our customer support. After business...
[UltimateTax] – E-Filing Shutdown
We are informing you that the IRS intends to shut e-filing on November 21st. We will stop accepting returns on November 18th. This includes individual returns for all years. No returns will be accepted until the IRS turns e-file back on in early January 2021. This is...
Tax Season Starts Jan 20th, 2014
Tax Season Opens As Planned Following Extenders Legislation Following the passage of the extenders legislation, the Internal Revenue Service announced today it anticipates opening the 2015 filing season as scheduled in January. The IRS will begin accepting tax returns...
Professional Tax Software Brought To You By A Tax Professional
There is something about my boss, Mike Steele, which you probably don’t know. Not only is he the owner and president of UltimateTax, he has been a tax professional, just like you, for over 19 years. It’s true, his tax business is right next door to UltimateTax. If he...
Tax Pros Can Learn From IRS Mistakes
John Koskinen has been talking about the effects of the IRS budget cuts since they started in 2010. It sounds like the biggest cut of all is the most important – morale. Poor morale at that IRS is worse than I thought. The Bloomberg article on Miserable IRS Workers...
Tax Professionals Meet The Gambler Scam
I’m sure as a tax professional you’ve heard a few tall tales that made you chuckle. Well wait until you hear about the new scam aimed at the IRS involving losing lotto tickets. Those creative gamblers have come up with a way to avoid paying taxes. A winning gambler...
Pros and Cons of Refund Anticipation Checks
We all know that there are some crooked tax preparers out there. Heck there are crooked people in every profession. It seems like these bad preparers are giving refund anticipation checks a bad name for everyone. If you don’t know what they are, they are similar to a...