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Professional tax tips, news, and updates that impact how you run a professional tax office.
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Focus On What Matters!
In the fast-paced world of tax preparation and financial services, it’s easy to get caught up in the whirlwind of deadlines, complex regulations, and demanding clients. However, to truly excel in your tax business, it’s crucial to pause, reflect, and ask yourself: What matters most?
IRS relief now available to Hurricane Debby victims!
IRS relief now available to Hurricane Debby victims in all of South Carolina, most of Florida and North Carolina, part of Georgia; various deadlines postponed to Feb. 3, 2025.
Summer Savings
Discover exclusive rebates, the lowest prices, and zero hidden fees with RightWay Tax Solutions.Maximize your savings with our industry-leading rebates on top-tier tax software.We offer the most competitive prices in the market, ensuring you get the best value for...
MFA is a must for tax professionals!
The Internal Revenue Service reminds tax professionals that using multi-factor authentication is now more than an important protection for their businesses and their clients – it’s now a federal requirement.
All tax professionals are now required to use multi-factor authentication, or MFA, to protect clients’ sensitive information. The change mandates MFA to strengthen account security by requiring more than just a username and password to confirm an identity.
Hot Off The Press | 1099-K Threshold Delay
IRS announces 1099-K Phase in... IRS announces delay in Form 1099-K reporting threshold for third-party platform payments for 2023; plans for a threshold of $5,000 in 2024 to phase in implementation It may not be a Christmas Miracle but this Implementation...
1040 Modernized e-File (MeF) Production Shutdown – 22
Reminder: The IRS announced that the last day to electronically file individual 1040 tax returns is Saturday, November 26, 2022. All returns must be transmitted prior to 11:59 PM eastern time in order to be processed. The temporary shutdown of the Modernized e-File...
PTIN Renewal Time!
Tax Season is right around the corner... PTIN Renewal time again! All current PTINs will expire December 31st 2022 There are more than 750,000 active tax return preparers in the United States and if you're one of them, it's time to start renewing your Preparer Tax...
IR-2022-08: 2022 Tax Filing Season Begins Jan. 24
IR-2022-08: 1/10/22 E-file Start Date Announced WASHINGTON − The Internal Revenue Service announced that the nation’s tax season will start on Monday, Jan. 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns. The January 24 start...
20 Vs. 21 Comparison | Tax Law Updates
YR/YR Tax Comparison Below is a download link for a 20 VS. 21 comparison of most significant changes. Download PDF of 2021 vs. 2020 comparison of tax changes We strongly advise everyone become well acquainted with these changes!
Data Security Plan – Do you have one?
Data Security Plan Today, December 13, 2021 the IRS published Tax Tip 2021-184. In this "Tip" they mention something that most Tax Pro's probably aren't aware of or forgot about. They make sure to point out that, "The IRS and Security Summit partners remind tax...
