Get Ready for Taxes: Get ready now to file 2020 federal income tax returns

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WASHINGTON – The Internal Revenue Service today encouraged taxpayers to take necessary actions this fall to help them file their federal tax returns timely and accurately in 2021, including special steps related to Economic Impact Payments.

This is the first in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A special page, updated and available on IRS.gov, outlines steps taxpayers can take now to prepare for the 2021 tax return filing season ahead.

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Circular 230, Publication 947 available in Spanish for tax pros for the first time

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IR-2020-246, October 27, 2020

WASHINGTON — As part of an ongoing initiative to provide information and assistance to underserved communities more effectively, the Internal Revenue Service announced today that it is making two key publications designed for tax professionals available in Spanish.

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TECH TIPS: PDF ARCHIVE PATH SETUP

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Did you know you can change where your PDF files go when you archive them?

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Bank Product Integration

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Bank Product Integration

The ability to provide a variety of options for the payment of your preparation fees, as well as provide other financial products your clients may be interested in, is important to many tax professionals. Many look to bank products to provide that flexibility.

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How to Grow Your Practice by Sharing Your Expertise

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WATCH HERE

If growing your tax practice is a top priority, we applaud you and are excited to see your success. We all know it can be conflicting as to where to start your efforts in refining your business-building practices. A strong foundation of basic areas to focus on can be found in my article “The Top 5 Ways to Keep Yourself Essential”. The “5 E’s” of 1. Share your Expertise, 2. Show you Empathize, 3. Be Evident, 4. Exceed Expectations, and 5. Hire an Expert, is the best place to start your brainstorming.

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A LETTER FROM US

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This year has been one for the history books! Years down the road we wonder if our grandchildren and great grandchildren will look at us in awe as we talk about 2020. One of the funniest memes we saw was from the movie “Back To The Future”. It has Marty and Doc working with the DeLorean and it just says “Rule Number 1 – Never Set It To 2020.”

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IRS highlights online resources during Small Business Week; many resources available in multiple languages

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IRS highlights online resources during Small Business Week; many resources available in multiple languages

WASHINGTON – In support of National Small Business Week – Sept. 22 to 24 – the Internal Revenue Service is emphasizing the many IRS online resources available to help small business owners and self-employed individuals handle the tax aspects of their business.

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Amended Returns Ready for E-file

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After many years of IRS rumors, the ability to e-file an Amended U.S. Individual Tax Return (1040-X) is finally here! On August 17th the Wintax 1040 software will update to include this new capability with some IRS stipulated limitations of course. Please read the list below.

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Dirty Dozen part 2: Thieves are constantly coming up with ways to scam taxpayers

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This is the second of two tips exploring the IRS Dirty Dozen tax scam list. Tax scams tend to rise during tax season or during times of crisis. Scam artists are using the COVID-19 pandemic to try to steal money and information from taxpayers.
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Dirty Dozen part 1: Taxpayers should be on the lookout for these scams

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All tax scams put taxpayers at risk. This is the first of two tips taking a closer look at the IRS Dirty Dozen tax scam list. This year, taxpayers should be especially, watchful for aggressive schemes related to COVID-19 relief, including Economic Impact Payments.

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