Tech Tips – Acknowledgements
With the NextGen Wintax program, you can reprint and reprocess “rehang” your previously electronically filed acknowledgements whenever you may need them.
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A Comprehensive Look at EFINs and PTINs
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 on a successful tax season!
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 […]
Step-by-Step Instructions for Using the IRS Withholding Calculator
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, […]
Take the Mystery Out of Your Client’s Future Tax Return
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, […]
Taxpayers Can Choose to Take Standard Deduction or Itemize for Tax Year 2017
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 Now
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 […]
The Tax Cuts and Jobs Act of 2017
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 […]
Remotely Signing the 8879
The IRS requires that an 8879 be signed by the taxpayer before the 1040 can be efiled. Usually this would be a physical signature in person, but there are ways to do this without the taxpayer stepping foot into your office. A great solution for remotely signing an 8879 is the Adobe Acrobat program. This […]
Planning for Next Year
When tax season is over, we in the tax industry want to let everything go until extensions are due. While time off is often well-deserved, there are some easy things you can do to get your clients–and yourself–ready for next tax season well before January.
