Understanding Tax Software with Bank Products
As a tax preparer, you may have noticed that some professional tax software products support bank products. Should this feature affect your decision...
Is It Time to Upgrade Your Tax Software Package?
When deciding to renew your tax software, you will want to ask yourself one important question. Should you upgrade your tax software package? As you...
What Is a Refund Transfer?
The refund transfer is a deposit product that allows clients to settle their preparation fees or accounting fees without making an upfront payment....
8839 Qualified Adoption Expenses
We are aware of an issue with the IRS schema concerning the maximum adoption credit allowed on Form 8839 Qualified Adoption Expenses. Per the form...
State and Module Release Dates
We have published a solution article to are module and state release dates. This article will be updated around 11am central. This article is the...
CA e-File – Resolved
[UPDATE] - as of 2/2/22 this is resolved. We have identified a minor issue with the State of California eFiles returns. We expect a fix by end of...
6 Skills That Every Tax Preparer Should Have
Tax preparation is a good choice of business for a motivated entrepreneur. You can be successful without too great of an investment! You can run a...
IRS Common Mistakes – 2022
UltimateTax is Reposting a good email from the IRS: Common tax return mistakes that can cost taxpayers Tax laws are complicated but the most common...
Efile Start Date for 2021 Returns
We are announcing that the IRS will be accepting 2021 returns starting on Monday January 24, 2022. As expected the IRS will begin accepting returns...
Start a Tax Preparation Business Now
The 2022 tax season will begin less than a month from now. If you are going to set up your own tax practice, now is the time to do it! But how do...
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Recent Posts
How Do you Stay Up-to-Date on the Latest Tax Laws and Regulations?
When it comes to taxes, it can feel like you’re in a losing battle against minutiae. Each year, everyone from congressional legislators to IRS administrators seem to have something about the tax code they either want to update, add, or get rid of altogether. A tax...
5 Key Features You Want For Your Tax Business Software
Selecting tax preparation software for your business is critical in ensuring profitability and success. Quality software will help you deliver accurate returns on time, offer great support, and be easy to navigate. Anything less could cost you business. Here is a list...
Safeguard Your Clients And Business By Monitoring Your EFIN
In 2020, many businesses transitioned from solely brick-and-mortar businesses to hybrid companies. Many employees worked from home due to COVID restrictions and health concerns. But that shift meant more opportunities for hackers. Cyber attacks increased by 358%...
What Challenges do Tax Software Providers Face with the Evolving Needs of Tax Professionals?
Providing tax support to individuals and businesses is anything but simple in today’s fast-moving digital world - your software has to factor in unique business models, a wide range of investments and assets, and a legal and procedural landscape that requires regular...
7 Frequently Asked Questions About EFINs
When filing taxes, you would typically use your social security number to file your taxes as an individual. However, when preparing taxes for other people or business entities, you need a specific number to identify yourself as a tax preparer instead of a taxpayer....