Quick Reference for Tax Professionals ? Casualty and Theft Loss
Not much can ruin someone’s day faster than coming home from a long day at work, ready to relax, then walk inside the house and realize someone...
No IRS Shutdown, Tax Professionals Exhale
With less than a month before the April 15th filing deadline, it turns out the IRS budget cuts won’t cause the Internal Revenue Service to shut down...
Quick Reference for Tax Professionals ? Child Care Tax Credit
Child care is not cheap whatsoever, and most pay additional costs for someone they like and trust instead of the cheapest – just like your...
Tax Zombies
Unlike The Walking Dead Zombies wondering the streets starving for flesh, these zombies are hungry for tax refunds. They are attempting to bring the...
IRS Sending Many ID Theft Letters
Our sources at the IRS sent us some important information we would like to share with you, our professional tax software friends. There are 3...
Anthem Admits Being Hacked
UltimateTax loves to share information that can help you help your clients. We want to be more than your professional tax software provider, we want...
Quick Reference for Tax Professionals ? Hobby or Income?
As a tax professional, you know find there is no solid line drawn between a hobby and income. To help establish the difference with your clients,...
Quick Reference for Tax Professionals ? Medical and Dental Deductions
As a tax professional, sometimes you need an answer right now. At UltimateTax we want to offer your more than professional tax software, we want to...
Affordable Care Act at Risk
It sounds like the Affordable Care Act is in serious jeopardy. The fate of health insurance for an estimated 9.6 million people lies in the hands of...
More DIY Taxpayers This Year?
As reported by CPA Trendlines , as of February 27, 2015 total tax refunds are down 1.8%, which is 882,000 fewer refunds than this time...
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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...