Snow and Professional Tax Software
We are taking a quick break from professional tax software to tell you about the most popular topic here in Iowa today – SNOW! Here are 10 Fun Facts that you probably didn’t know about snow: An average snowflake is made up of 180 billion molecules of water. Around 12%...
Marketplace Tax Statement Mishap Could Benefit 50,000
Did you prepare returns for clients that had bad Obamacare subsidy data (Read our 800,000 Incorrect Tax Statements article) If so, you are about to have some great news for them! Out of the 800,000 incorrect tax statements, the 50,000 taxpayers who already filed are...
ACA Special Enrollment Period
As Tax preparers, your clients may expect you to be their go-to-person for everything ACA (Affordable Care Act) related. You are the only live person they can physically sit with face to face and ask questions to, otherwise everything is done online. Especially now...
Quick Reference For Tax Professionals ? Can Clients Use Divorce Decree To Claim Child?
As a Tax Professional, you will have to ask your clients a few questions when dealing with this situation. Is your client the custodial or noncustodial parent? When is the final divorce decree dated? If the divorce decree or separation agreement went into effect after...
IRS Bitter About Budget
It seems that IRS Commissioner John Koskinen is too busy steaming over the IRS budget cuts to worry about the Republicans and Democrats battling over the tax extenders. He states “Our (The IRS) job is tax administration; we’re not the tax policy people.” Koskinen adds...
Ebola Chartity and Expense Tax Breaks
President Obama finally addressed the public stating that the Ebola Virus outbreak in West Africa is a public health emergency,a humanitarian crisis, and a national security priority. His belief is in order to keep us safe here at home, we need to stop it at the...
Tax Tools for Your Clients
Here are a few tools that your clients may or may not fully comprehend. If you can help them understand the possible benefits then they may be able to do some of this research themselves and know what to do to better their tax future. Contributions to 401K –...
IRS 1040 E-File Shutdown/Cutover Schedule
The shutdown is coming earlier this year in order to make preparations for reprogramming the 2015 tax season. Note that acknowledgments may be delayed slightly, so you will want to watch these dates to make sure you receive them before they are no longer available....