Stimulus Payments EIP payments and forms
Looks like this season is going to get off to a crazy start. The Economic Recovery Payment 2 paid end of December 2020 / First of January 2021. WILL BE reconciled on their 2020 tax return. So the "$600" payment will be paid on their tax return as a refundable credit...
EPS Bank Update ? Cards and Checks
As a notice for EPS Checks and Cards - Only use cards and checks issued to your office this season. Do not use prior season checks and cards for 2021. Card Number Issue: There is an card issue that you have get the correct card number from your EPS portal. Click on...
IRS Announced e-file start date
IRS announced today, that e-file will start on February 12th to accept 2020 tax returns. The start of the season has been delayed due to the tax law changes on Dec. 27th. You can transmit returns now. They will be held until February 12th and assuming the volume will...
Software Update 1/4/21
We would like to give you a couple reminders for the season: The links for all software is at online.ultimatetax.com. Pre-Ack loans are have started if you are offering them. This year the system is emailing codes and password resets. The email comes from...
Add a Mobile option to your office
Mobile is Here! With the new operating environment changes constantly, utilize our new mobile app to retain and grow your business. Now you can prepare returns without in-office visits. The new Mobile interface is all about convenience – for you and your clients. The...
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[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...
Essential Tools For Your New Tax Preparation Business
Setting up your tax preparation office means purchasing the right tools. The right equipment can help you finish your tasks efficiently and let your business processes work smoothly. Of course, buying equipment is not cheap. You will have to invest in getting the...
Tips On How To Market Your New Tax Preparation Business
Once you’ve set up your new tax preparation business, it’s only a matter of time to start acquiring clients. Your first clients would be your family and friends. Then, you need to start chasing after potential clients by marketing your business. Any new tax preparer...
Services New Tax Preparers Can Offer
It’s tax season once again! Are you a new tax preparer? Do you plan on starting your own business? Well, now is the perfect time to start your business. The best feature about starting your own tax preparation business is how easy it is. You don’t have to rent out an...
Tax Professionals, Here Are The 2020 Deadlines You Need To Keep Track
It’s tax season once again! For tax professionals, the next three to four months can be the busiest time of the year. Aside from meeting with both old and new clients, you need to gather your clients’ financial documents, start preparing income taxes and file prepared...
Recent Posts
Checking Child Tax Credit Payments: A Guide to Understanding Your Benefits
The Child Tax Credit (CTC) is a lifeline for many families struggling to make ends meet. It provides financial assistance to help defray the costs associated with raising children, including food, housing, and other basic needs. The CTC has undergone significant...
Contacting the IRS: How to Reach a Person for Assistance
Dealing with taxes can be a hassle, and trying to navigate the Internal Revenue Service (IRS) system is often confusing. Whether you have questions about your tax return or need help resolving an issue with the IRS, contacting a person for assistance can make all the...
Finding Your Business Activity Code: A Quick and Easy Guide
A principal business code is an indispensable part of conducting business in the United States. This six-digit number is a means of categorizing a company's main product or service, and it plays an important role in filing federal taxes with the Internal Revenue...
Using Last Year’s Earned Income Credit: Maximize Your Tax Refund
When filing a state tax return, it is important to be aware of the Earned Income Tax Credit (EITC) as this credit may reduce your overall tax liability. The Earned Income Credit (EIC), also known as Earned Income Tax Credit (EITC), is a valuable tax credit for...
Determining the Right Number of Tax Exemptions to Claim
The number of tax exemptions you claim on your W-4 form significantly affects the amount of federal income tax withheld from your paycheck. If you claim fewer exemptions, more taxes will be withheld, and vice versa. However, claiming too many or too few exemptions can...