As the 2019 tax year approaches, we at Taxware Systems would like to remind tax preparers that protecting taxpayer information is extremely important. This includes protection from environmental risks (e.g. fire, water, tornado, earthquake), business resources (e.g. equipment failure, supply chain disruption, employees) and hostile actors (e.g. hackers, criminals, nation-state actors). The latter has been […]
As a client of Taxware Systems you are entitled to receive 10-25% off all TheTaxBook products and free shipping year-round! Excitement is in the air for the 2018 Tax Year! Your clients want to know how the changes in tax law affect their tax return and financial situation. TheTaxBook has three publications to help you […]
With the NextGen Wintax program, you can reprint and reprocess “rehang” your previously electronically filed acknowledgements whenever you may need them.
Electronic Filing Identification Numbers (EFINs): An EFIN is a six digit number assigned by the IRS for identifying tax firms. Anyone filing more than 10 returns in a tax year must do so electronically through their firm’s EFIN.
Congratulations! You made it! The high pressure of an even more compact tax season has come to an end. All of us at Taxware Systems congratulate you on making it through and hopefully having a great tax season. The IRS made it interesting at the end with their servers going down on the last day […]
The IRS encourages everyone to use the Withholding Calculator to perform a quick “paycheck checkup.” This is even more important this year because of recent tax law changes. Results from the calculator will include a recommendation of whether or not users should consider submitting a new Form W-4, Employee’s Withholding Allowance Certificate, to their employers. Before beginning, […]
Tax Planning Tutorial Some of the most common questions we are fielding this year are regarding the “The Tax Cuts and Jobs Act of 2017“ and how it affects the taxpayers taxes. It’s totally understandable as people are either excited or concerned about the unknown. To help you be able to answer some of these questions, […]
Most taxpayers claim the standard deduction when they file their federal tax return. However, some filers may be able to lower their tax bill by choosing to itemize when they file their 2017 tax return. Before making that decision, it’s a good idea to figure deductions using both methods and choose the method with the […]
Taxpayers with Expired ITINs Should Renew Them Now to File Their 2017 Taxes Taxpayers with an expired Individual Taxpayer Identification Number should renew it as soon as possible if they need to file a 2017 tax return. They can renew it by submitting a Form W-7. Tax returns with expired ITINs will face delays. Affected […]
By King T. Dalton, CPA and Founder of Taxware Systems, Inc. This is a preliminary analysis of the new tax act that will affect 2018 tax returns, and is based on my understanding of the new law, which may need further clarification. The analysis is not intended to be complete, but to provide a guide […]
