E-file Federal Amended Returns

We’ve all had clients that forget to bring in a form or two and then we are faced with the seemingly arduous task of completing an amended tax return.

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Latest spearphishing scams target tax professionals

WASHINGTON – With tax season in full swing, the Internal Revenue Service, state tax agencies and tax industry today warned tax professionals of new email scams that attempt to steal their tax software preparation credentials.

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Basic 8915-F Instructions for 2021

Basic 8915-F Instructions for reporting 1/3 of the 2020 Gross Distribution in 2021. 

Typical scenario: 

In 2020 the Taxpayer took a distribution of 60,000 from a Non IRA retirement account and he also took a 30,000 distribution from an IRA. For 2020 form 8915-E was filed and 1/3 of these distributions were included in the 2020 tax return. 

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IRS begins 2022 tax season; urges extra caution for taxpayers to file accurate tax returns electronically to speed refunds, avoid delays

WASHINGTON – The Internal Revenue Service today kicked off the 2022 tax filing season with an urgent reminder to taxpayers to take extra precautions this year to file an accurate tax return electronically to help speed refunds.

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IRS issues information letters to Advance Child Tax Credit recipients and recipients of the third round of Economic Impact Payments; taxpayers should hold onto letters to help the 2022 Filing Season experience

WASHINGTON — The Internal Revenue Service announced today that it will issue information letters to Advance Child Tax Credit recipients starting in December and to recipients of the third round of the Economic Impact Payments at the end of January. Using this information when preparing a tax return can reduce errors and delays in processing.

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IRS issues standard mileage rates for 2022

WASHINGTON — The Internal Revenue Service today issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Read more

TAXWARE ANNUAL SEMINAR 2021

Taxware Annual Seminar 2021

Below you will find all the recordings, additional information as well as a list of the prize winners for each session.  This page will be updated with additional recordings and information over the week of the seminar.

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Security tip for tax pros: Remember to safeguard EFINs

Tax professionals are prime targets for criminals. These criminals not only want to steal client data, but also the professionals’ data, such as their electronic filing identification numbers.

A thief who breaches the data of just one tax return preparer can get their hands on lots of other data. In fact, they can get personal info on hundreds or even thousands of people.

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Small security measures that make a big difference when it comes to online safety

Cybercrime is a constant concern in the online world which means everyone must be mindful of risks when they share devices, shop online and interact on social media. While this may seem overwhelming, it doesn’t have to be. A few small security measures can lower the risk of exposure to online safety threats.

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National Tax Security Awareness Week, Day 5: Security Summit partners remind businesses to tighten security; be aware of steps to help prevent, protect data loss

WASHINGTON – The Internal Revenue Service, state tax agencies and the nation’s tax industry urged businesses to be alert to cyberattacks aimed at gaining access to business data and customer information and be aware of steps to help them on tax-related issues related to identity theft.

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