UltimateTax Blog

5 Mistakes Preparers Make When Buying Tax Software

Aug 72018

1. Refusing To Adopt Cloud-based Software The tax preparation software industry is probably one of the slowest industries to embrace cloud technology for software needs. There are items to be concerned about, however, if banking, finance...

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IRS Announces Tax Refund Delays For 2017

Jan 72017

Mike Steele, owner of Ultimate Tax says that this year is going to be different. The people that need the money the most are going to be waiting the longest. The unintended consequence of the IRS finally catching up with the time...

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Tax Preparer Education Requirements

Dec 212016

Thought that maybe the required continuing education hours might change this year? Well they have not. The requirements for 2016 continuing education are still here. I would say that, the hour requirement, if left to the last two weeks of the year, can be ...

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IRS Funding

Feb 132016

Afternoon Feb. 13th - IRS FundingSo far this year, as of 4pm Eastern, the IRS has released almost no refunds. Current estimates are that the IRS has released refunds for fewer than 1% of returns filed in the first week of the e-file, and ...

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Health Care Basics

Jan 282016

Health Care Basics For Preparing Your Clients ReturnsWe got this from the IRS site about what you need to file for the ACA (Affordable Care Act). We are just sending this out for your information. We also have included a quick link ...

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Urgent Electronic Filing Center Information

Nov 192015

The Electronic Filing Center stops sending E-files at 6pm EST on Friday November 20th. This includes 2014, 2013, and 2012 efiles The IRS shuts down at 11:59am Saturday November 21st Acks not retrieved by 11:59am Saturday November 21st will be unavailable until IRS reopens in January ...

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Professional Tax Software – When the IRS Sends Letters

Oct 162015

We don’t always talk about professional tax software. Today is about your clients. Would your client know what to do if he/she received a letter from the IRS? Either way, this is helpful information for you to share with them. Initial concern: Is this letter ...

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IRS Customer Service Angers Taxpayers

Oct 062015

Part of our service of providing professional tax software is also providing you with information that will be helpful to your clients and prospective clients. Forbes reported that during the 2015 tax season approximately 83.2 million taxpayers contacted the IRS by calling Customer Account Services toll-free telephone ...

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Professional Tax Software – Annual Filing Season Program

Sep 292015

As it stands right now, the Annual Filing Season Program (AFSP) Certificate is not required. This could change based on what happens with the most recent proposal for the IRS and Finance House Committee to regulate all aspects of paid tax return preparers. Until that is settled, ...

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Tax Loans Are Beneficial

Sep 242015

The word is out that Tax Loans are back! We’ve seen some negative comments regarding them, and it’s time to clear the water. We are strong believers that these will increase your business and also that they are worth the small lender fee it will cost ...

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IRS Takes Another Swing At Regulating Tax Preparers

Sept 222015

Regulating tax preparers has been a hot topic of controversy over the last few years. The IRS has really gone to bat to try and get some sort of licensing process in place. Ever since the Loving v. Commissioner Case the IRS has battled to gain back some ...

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Tax Loans Are Back! And FREE!

Aug 192015

WOULD YOU LIKE TO OFFER FREE TAX LOANS TO YOUR CLIENTS? Yes, you read right. FREE. UltimateTax premium professional tax software customers that use TPG can now offer tax loans up to $600 for no charge to your clients. THIS IS AMAZING NEWS! ...

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Professional Tax Software – This Is How We Do It

Jul 302015

TRADESHOW REVELATIONS! There were so many professional tax software companies at the IRS Tax Forums in Washington, DC. I’m curious to see what questions they were asked over and over. For UltimateTax, the one question I heard repeatedly was “How can you afford to sell ...

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Professional Tax Software – Home Sweet Home

Jul 202015

Every professional tax software company has a home base. Ours is Muscatine, Iowa, right in the heart of the Midwest. It’s a small but diverse town with a population around 22,880. For the most part folks here are super friendly. You never know if the person next ...

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Professional Tax Software – IRS, Please Pass The Pudding

Jul 162015

Sure, we are a professional tax software company, but we are also human and sometimes we need protection too. One of our Account Managers, Mike, was feeling the weekend closing in fast. He told himself – I worked hard all week long! I’ll swing by and get ...

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Professional Tax Software – Power To The Tax Professionals

Jun 262015

Professional tax software companies can’t always be the hero, this time we pass the torch to those witty accountants that fight for tax professional’s rights! It is about time someone did something to stand up for the rights to tax professionals! Honestly, how can we get answers for ...

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Online Professional Tax Software

Jun 082015

Have you asked yourself, “Self, should I buy online or desktop professional tax software? I’m not sure which is best for me.” Well, now you can give yourself a break from all that pressure. We are here to help talk you through it. If ...

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Professional Tax Software – Pay Per Return

Jun 012015

What in the world does pay per return actually mean? It depends on who you ask. Our competitors offer different packages that aren’t nearly as cool as ours. Here is what we offer in our package: Low cost software. Your license to drive. A low cost per ...

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Professional Tax Software Don’t Let Them Control You

May 292015

Ever wonder why it is cheaper to buy professional tax software in certain months of the year? When professional tax software companies give you big discounts to purchase your software at certain times of the season they are trying to control you. It is a ...

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Professional Tax Software and BBQ Burgers

May 182015

May Your Burgers Be Delicious! You are well aware that we love our professional tax software, you know what else we love….FOOD. It is now halfway through the month of May and we just now realize it is National Burger Month! At least there is still time to ...

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How Do Your Fees Compare?

May 112015

Tax preparers sure have their work cut out for them. The thing that most clients don’t realize is just how complex the tax code really is. When they balk at your fees, you may need to remind them, there are over 4 million words in the U.S. tax ...

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Use Professional Tax Software! Turbo Tax Could Be In Hot Water

Apr 282015

Remember reading about the TurboTax security breach? It wasn’t in the Intuit professional tax software division, however it is Intuit nonetheless that could be facing the music. Two TurboTax users whom have been the victims of identity theft are now coming forward to file a class-action lawsuit ...

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Tax Pros Can Learn From IRS Mistakes

Apr 242015

John Koskinen has been talking about the effects of the IRS budget cuts since they started in 2010. It sounds like the biggest cut of all is the most important – morale. Poor morale at that IRS is worse than I thought. The Bloomberg article on ...

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Tax Pro’s Only

Apr 242015

With tax season finally drawing to a close the IRS EPSS e-help Desk is lighting up with phone calls. Unfortunately taxpayers are tying up those lines too, claiming that their tax preparer referred them for assistance resolving issues like rejected returns, tax law and tax account matters. Taxpayers ...

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Professional Tax Software Stop Playing Price Wars

Apr 102015

When potential customers call looking for professional tax software information, one of the 1st questions we are asked is “How much does it cost?” We like to answer questions before you ask them. The Guessing Game – Sometimes it can be a guessing game of whom? And ...

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Tax Professionals Meet The Gambler Scam

Apr 102015

I’m sure as a tax professional you’ve heard a few tall tales that made you chuckle. Well wait until you hear about the new scam aimed at the IRS involving losing lotto tickets. Those creative gamblers have come up with a way to avoid paying taxes. ...

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More Reasons for Your Clients to Love You

Apr 102015

Not that you really need another reason, but we have a pretty good one. When a potential client balks at your prep fees, remind them that filing mistakes can add up to costly penalties for taxpayers! Just because they haven’t heard from the IRS doesn’t mean they should ...

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Hackers Easily Create IRS Accounts

Apr 062015

We have another reason for your clients to value their favorite tax professional! We are always looking to build our relationship with you by helping you help your clients. The latest hacker news – It’s eerie how simple it is for hackers to create an IRS account. ...

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The College Student Tax Scam

Apr 012015

The IRS is warning college students and other taxpayers to be aware of a new federal tax refund scam luring students to give their personal information to file tax returns claiming fraudulent refunds. In the southeast region of the US the American Opportunity Education Tax Credit has ...

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Pros and Cons of Refund Anticipation Checks

Mar 102015

We all know that there are some crooked tax preparers out there. Heck there are crooked people in every profession. It seems like these bad preparers are giving refund anticipation checks a bad name for everyone. If you don’t know what they are, they are similar to a ...

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No IRS Shutdown, Tax Professionals Exhale

Mar 202015

With less than a month before the April 15th filing deadline, it turns out the IRS budget cuts won’t cause the Internal Revenue Service to shut down for two days as they had previously predicted. Back in January, IRS Commissioner John Koskinen had warned that the spending ...

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Quick Reference for Tax Professionals – Child Care Tax Credit

Mar 192015

Child care is not cheap whatsoever, and most pay additional costs for someone they like and trust instead of the cheapest – just like your professional tax software! Here are some tips to help see if your clients qualify for this deduction. Child Dependent or Spouse – ...

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Tax Zombies

Mar 172015

Unlike The Walking Dead Zombies wondering the streets starving for flesh, these zombies are hungry for tax refunds. They are attempting to bring the dead back to life financially. NBC News reports – “During tax years 2006 to 2011, 66,920 people filed using a Social Security number ...

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IRS Sending Many ID Theft Letters

Mar 162015

Our sources at the IRS sent us some important information we would like to share with you, our professional tax software friends. There are 3 identity theft letters that you need to know about. It seems that the Identity Theft Filters at the IRS are working ...

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Affordable Care Act at Risk

Mar 112015

It sounds like the Affordable Care Act is in serious jeopardy. The fate of health insurance for an estimated 9.6 million people lies in the hands of the Supreme Court. This lawsuit, King v. Burwell, is challenging a new angle that we have yet to hear about. ...

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Quick Reference for Tax Professionals – Hobby or Income?

Mar 112015

As a tax professional, you know find there is no solid line drawn between a hobby and income. To help establish the difference with your clients, here are a few questions you can ask your client to help you differentiate between the two Do you conduct activities ...

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Anthem Admits Being Hacked

Mar 112015

UltimateTax loves to share information that can help you help your clients. We want to be more than your professional tax software provider, we want to be your go-to for everything your tax business needs! On Thursday, February 26th Anthem, Inc. Communications sent notifications to ...

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More DIY Taxpayers This Year?

Mar 102015

As reported by CPA Trendlines , as of February 27, 2015 total tax refunds are down 1.8%, which is 882,000 fewer refunds than this time last year. Tax professionals have submitted 4.4% fewer e-files year over year with just 28,733,000 e-file receipts versus 30,053,000 in ...

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Marketplace Tax Statement Mishap Could Benefit 50,000

Feb 262015

Did you prepare returns for clients that had bad Obamacare subsidy data (Read our 800,000 Incorrect Tax Statements article) If so, you are about to have some great news for them! Out of the 800,000 incorrect tax statements, the 50,000 taxpayers who already filed are in ...

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Snow and Professional Tax Software

Feb 262015

We are taking a quick break from professional tax software to tell you about the most popular topic here in Iowa today – SNOW! Here are 10 Fun Facts that you probably didn’t know about snow: An average snowflake is made up of 180 billion molecules ...

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ACA Special Enrollment Period

Feb 242015

As Tax preparers, your clients may expect you to be their go-to-person for everything ACA (Affordable Care Act) related. You are the only live person they can physically sit with face to face and ask questions to, otherwise everything is done online. Especially now that the Marketplace ...

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Lawmakers Re-Introduce Bill to Credit Enrolled Agents

Feb 232015

As it stands, not all states allow Enrolled Agents to use their credentials to encourage tax payers to use their services. This may not be the case in the future! The Enrolled Agents Credential Act has been re-introduced in Congress. This would allow Enrolled Agents in ...

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800,000 Incorrect Tax Statements

Feb 202015

The 1095-A is the tax statement in question and anyone who purchased a health care plan through the Marketplace will receive one. Included in this tax statement is the amount paid in monthly premiums, which is where the mistake was made. Some of the premiums figured for the ...

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Scam Targets Tax Preparers

Feb 202015

The IRS has issued a warning to alert tax preparers about fraudulent emails that are being sent to target tax preparers specifically. The email asks you to update your e-Services information and the links included are to a phishing scam which will capture your e-Services usernames and passwords. ...

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Using The Return Query For Up To Date Return Info

Jan 222015

Checking the status of any return is very easy to accomplish. Below are the steps in the program to ensure your statuses are up to date and correct. Inside the program – please go to Communications >> Get Acks & Updates or Click the “Get Acks & Updates” ...

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2015 – American Opportunity Credits – DELAYED

Jan 122015

From our inside sources we are hearing that the IRS will be holding refunds with the American Opportunity Tax Credit. The word is that the IRS is going to wait till mid May so they can verify the information on the 1098-T form with with institution. This day and age we ...

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Tax Season Starts Jan 20th, 2015

Dec 292015

Tax Season Opens As Planned Following Extenders Legislation Following the passage of the extenders legislation, the Internal Revenue Service announced today it anticipates opening the 2015 filing season as scheduled in January. The IRS will begin accepting tax returns electronically on Jan. 20. Paper tax returns will begin processing at the same ...

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IRS Bitter About Budget

Dec 112015

It seems that IRS Commissioner John Koskinen is too busy steaming over the IRS budget cuts to worry about the Republicans and Democrats battling over the tax extenders. He states “Our (The IRS) job is tax administration; we’re not the tax policy people.” Koskinen adds “I don’t ...

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Obama Threatens to Veto Tax Extenders

Dec 022014

As attempts to wrap up permanent tax-break extensions for corporations, college students and residents of states without income taxes were in progress. Obama stepped in and voiced his concern that these proposed tax extensions would not benefit low-income families at all and left out a permanent expansion of ...

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Clarification from IRS on Mass Transit Passes

Nov 262014

The Internal Revenue Service has released a new revenue ruling on mass transit passes provided as fringe benefits to employees, how they are paid for and/or reimbursed. Reveue Ruling changes what the IRS’s earlier guidance on employee qualified transportation fringe benefits such as smartcards, debit or ...

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Tax Tools for Your Clients

Nov 262014

Here are a few tools that your clients may or may not fully comprehend. If you can help them understand the possible benefits then they may be able to do some of this research themselves and know what to do to better their tax future. Contributions to ...

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Tip Areas Hit By Scam Calls

Nov 262014

Even if the caller ID shows the call is from the Internal Revenue Service, don’t believe it! These con artists that are targeting innocent taxpayers have spoofed the IRS phone numbers which can actually be routed from anywhere in the US. The crooks will either call pretending to ...

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Ebola Chartity and Expense Tax Breaks

Nov 262014

President Obama finally addressed the public stating that the Ebola Virus outbreak in West Africa is a public health emergency,a humanitarian crisis, and a national security priority. His belief is in order to keep us safe here at home, we need to stop it at the source. Due ...

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IRS 1040 E-File Shutdown/Cutover Schedule

Nov 122014

The shutdown is coming earlier this year in order to make preparations for reprogramming the 2015 tax season. Note that acknowledgments may be delayed slightly, so you will want to watch these dates to make sure you receive them before they are no longer available. Through November ...

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Excitement Stirs Over Green Dot – TPG Binding

Oct 242014

Due to the Green Dot merger TPG will now be able to give it’s clients industry leading financial products. The feedback from both existing and new customers has been very positive as they are excited to take advantage of all of the new benefits that will be available ...

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Tax Preparers Ain’t Got Time For That!

Oct 242014

Remember the phrase “Ain’t nobody got time for that?” Well, once tax season starts, one thing tax preparers really don’t have time for is getting sick! How many times have your clients come into your office in a less than healthy state? If you are anything like me ...

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It’s PTIN Time!

Oct 242014

The IRS has announced that you can now renew and apply for your 2015 Preparer Tax Identification Number (PTIN)! You may login to the IRS Online System ...

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Possible Delay to Tax Season Looms

Oct 242014

Oh no, not another possible delay coming for the 2015 tax year. The IRS commissioner John Koskinen has warned congress that if they don’t make decisions on how to proceed with more than 50 expired tax provisions there could be a delay the soon to come tax season ...

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Direct Deposit Limits

Oct 062014

It is no secret (we hope) that there have been so many victims of fraud the past year that something needs to be done. The IRS has come up with a way to help fight back against these scammers. Effective January 2015, there will be a limit of ...

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The IRS Annual Filing Season Program (AFSP)

Oct 062014

The IRS designed this program to allow tax preparers to voluntarily take this program which will give them knowledge and skills that will be valuable to their clients. This will prove to taxpayers that you took the time to broaden your knowledge to meet their needs. You ...

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ACA Give Your Clients A Heads Up

Sep 302014

It’s no secret that a many tax payers are confused about ACA (Affordable Care Act). Not only that, but it seems like everyone is. When tax season 2014 hits, there is a good chance that you will have to bare some bad news to your clients. As a ...

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Tax Preparer Software…What, How and Why of Fee Collect

Sep 302014

What is it? Fee collect allows you to deduct your tax preparation fees directly from your client’s refunds. This service costs you $19.95 per tax return and the fees are directly deposited into your bank account. Our UltimateTax ProPlus software offers fee collect, which gives ...

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Green Dot Buys Santa Barbara Tax Products Group

Sep 302014

Green Dot to purchase Santa Barbara Tax Products Group (TPG) in a 320 million dollar deal. The sale will be funded with $55 million cash, $150 million in bank debts and approx. 6.133 million shares of its common stock. Which means that TPG investors will own approximately 10.5% ...

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Why Renew Your Software Now?

Sep 242014

The Biggest Question Of the Year.That is the question many tax preparers ponder each year. Why do software providers ask me so early each year to commit so far away? It's simple - price.Lock in that price why ...

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Tax Preparers Could Receive Restitution From IRS

Sep 152014

Two CPA’s have slapped the IRS with a class action lawsuit. The IRS has required anyone who prepares or assists in preparing tax returns for payment to have a PTIN, and to renew that PTIN each year. The fees that the IRS collects for PTIN registration and renewal ...

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How to Get an EFIN Number

Sep 122014

Obtaining an EFIN is a step you can’t miss. It’s not exactly fun, but it’s extremely necessary to be a successful tax preparer. We have all of the information EFIN for you right here! What is an EFIN (Electronic Filing Identification Number)? The Internal Revenue ...

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How the Big Box Preparers are Taking Your Business Right Now

Sep 112014

Here are some areas of focus to give you ammunition against the big box preparers. Availability – Big box companies have more preparers under one roof, so they have more availability for scheduling than smaller offices do. They are also able to stagger preparers to work later ...

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Top 10 Ways to Give Better Service than H&R Block

Sep 102014

1) Create a comfortable environment for clients – Sure H&R Block has the green & white square branded look stamped everywhere, but is that really comfortable for clients? Give them a place that they feel welcome and at ease. Offering coffee or water can add to the nice ...

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Why Professional Tax Software

Sep 092014

The quality that you will receive with a professional tax software is far above the “do it yourself software” that you can purchase. It was created specifically for tax professionals to maintain efficiency, productivity and stay in compliance with the tax law. Another perk is that ...

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Introducing Our UTS Blog!

Sep 082014

Yes - It's Easier than Eavesdropping.Greetings! Thank you for stopping in to check out our new UTS Blog. Here at UltimateTax we offer high quality tax software at the lowest price possible. We are able to do this because of our great reputation ...

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