Tax Preparer Blog

UltimateTax Blog

Program Update 3/18/21

Program Update 3/18/21

Your Program should be updated to 35.04 Packages should be updated to the following: 1040 Indirect Ver 6 1120 "C" Corporation Ver 2 1120S "S"...

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Update ? Unemployment & Tax Due

Update ? Unemployment & Tax Due

UNEMPLOYMENT The prior guidance on using worksheet 7 to put the unemployment is it not what the IRS wants at this time. We have heard that other...

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Extensions

Extensions

If you are filing corporate returns with our desktop package, here are a few pointers: If you need to file an extension, here is our solution...

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Stimulus Payment

Stimulus Payment

This is information was provided from the IRS. IRS begins delivering third round of Economic Impact Payments to Americans WASHINGTON – The Internal...

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American Rescue Plan Act

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...

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Recent Posts

4 Ways to Find Out How Much You Will Owe the IRS

As tax season approaches, one of the biggest concerns for most Americans is the amount they will owe the IRS. Determining your tax liability is crucial because underestimating or overestimating your tax bill can have serious consequences.  The IRS may impose hefty...

How to File a Tax Extension for a Nonprofit: What You Need to Know

Nonprofits play an essential role in our society, offering services, support, and resources to communities in need. As a nonprofit organization, you are bound to meet a series of deadlines, including submitting tax returns each year.  However, there may be times when...

How to Get an Extension From the IRS, NY: All You Need To Know!

We all know that filing taxes can be a stressful ordeal. With the hustle and bustle of everyday life, it's not uncommon to fall behind on your paperwork. Whether it's due to a change in your financial situation, a health issue, or simply an oversight, needing an...

What Is My EFIN Number and Application Summary?

As a tax professional, it's important to clearly understand your Electronic Filing Identification Number (EFIN) and application summary. Your EFIN is a unique number that identifies your business as an authorized e-file provider with the IRS. It's essential to have an...