UltimateTax Blog

Jul 15 2022

Bank products are client solutions that all tax offices should offer. This benefits the tax office so that you can get paid for your services. They benefit clients as well since you offer a solution for your clients to not pay when they have you d...

Jun 27 2022

As a tax preparer, you may have noticed that some professional tax software products support bank products. Should this feature affect your decision of which tax software subscription to get? How important are bank products? What are bank products...

May 25 2022

When deciding to renew your tax software, you will want to ask yourself one important question. Should you upgrade your tax software package? As you consider this question, you will want to reflect on your needs for the coming tax season. ...

May 02 2022

The refund transfer is a deposit product that allows clients to settle their preparation fees or accounting fees without making an upfront payment. Instead of paying you directly for services, the clients agree to have your fee de...

Feb 02 2022

We are aware of an issue with the IRS schema concerning the maximum adoption credit allowed on Form 8839 Qualified Adoption Expenses.  Per the form and instructions, the maximum allowable credit is $14,440; however, the IRS schema has this va...

Jan 29 2022

We have published a solution article to are module and state release dates.  This article will be updated around 11am central.   This article is the latest information we have available to publish. ...

Jan 28 2022

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Jan 24 2022

Tax preparation is a good choice of business for a motivated entrepreneur. You can be successful w...

Jan 22 2022

UltimateTax is Reposting a good email from the IRS: ...

Jan 10 2022

We are announcing that the IRS will be accepting 2021 returns starting on Monday January 24, 2022.  As expected the IRS will begin accepting returns for the 2021 season about the normal time they do each year.  As with any start date, we...

Jan 03 2022

The 2022 tax season will begin less than a month from now. If y...

Jan 02 2022

If you have applied for bank products and pre ack loans, they are available now. In our online program, the forms are now available.  No updates are required. If you have our desktop program you will have to update your progra...

Dec 27 2021

As 2021 draws to a close, a number of tax breaks are set to expire. Tax preparers need t...

Dec 20 2021

The IRS will be sending taxpayers who received Advanced Child Tax credit payment/s in 2021, the letter will be sent out January 2022, Notice 6419.  This letter will show the total amount of payments received.  The client can also see the...

Dec 13 2021

IRS has announced its MeF (e-file) shutdown and cutover for Tax Year 2021. To ensure that all business tax returns e-filed through the MeF system are...

Dec 06 2021

The tax preparation profession involves more than the processing of income ta...

Nov 29 2021

Tips to Improve Client Experience This Year Every customer co...

Nov 22 2021

Prepare for Disaster: Important Tips for Your Financial Safety One of the most important things...

Nov 15 2021

One of your responsibilities as a tax professional involves prepping tax clients for the coming tax s...

Nov 01 2021

Professional tax software is designed to be secure. Sensitive customer data is protected b...

Oct 18 2021

Get Early Tax Refunds for Your Clients with Bank Products With the arrival of O...

Oct 04 2021

How to work together as team in a virtual tax office The idea of a virtual tax office has be...

Sep 20 2021

After 24 years I switched my tax office from a desktop tax program to an online tax program ...

Sep 06 2021

Goals for Your First Year as a Tax Preparer Setting goals is part and p...

Aug 23 2021

Looking for a good way to supplement your regular income? You might see tax pre...

Aug 09 2021

Are you considering a career as a tax preparer? It's a great option for the self-starter who's looking for a ...

Mar 18 2021

Your Program should be updated to 35.04 Packages should be updated to the following: 1040 Indirect Ver 6 1120 "C" Corporation Ver 2 1120S "S" Corporation Ver 2 1065 Partnership Ver 2 1...

Mar 17 2021

UNEMPLOYMENT The prior guidance on using worksheet 7 to put the unemployment is it not what the IRS wants at this time. We have heard that other software companies are "u...

Mar 13 2021

If you are filing corporate returns with our desktop package, here are a few pointers: If you need to file an extension, here is our solution article Your Program should be updated to 35.03 (will be u...

Mar 12 2021

This is information was provided from the IRS. IRS begins delivering third round of Economic Impact Payments to Americans WASHINGTON – The Internal Revenue Service announced today that the third round of Economic Impact Payments will...

Mar 11 2021

The American Rescue Plan was signed today. What does that mean to us preparing tax returns? Here is the bill full text. You can use the links in the site to go to sections. ...

Feb 28 2021

This applies to - Desktop Version Please be sure to Update Program and Update your Modules. On the desktop version you have to get Acks to have the most re...

Feb 28 2021

This evening the program was updated so that the current status of acknowledgements have been posted to your accounts. We apologize for any inconvenience this may have caused you. We do appreciate your patience over the last couple of days. At thi...

Feb 21 2021

Product: PPR and 1040 Packages Just a reminder that we are going to start our billing process for 2020 returns. We actually held off our billing by a couple weeks due to the late start of the season. If you have billable items, you...

Feb 17 2021

This applies to: Desktop Version Online users - If you use the Desktop Version for corporate returns. ...

Feb 12 2021

We have gotten a few questions with the tax code change this year. (There are many.) Cashed out Retirement they receive a 1099R. They can avoid the 10% penalty if they took the money out because of the pandemic. Also they can choos...

Feb 10 2021

We are just a couple days away from the IRS opening e-file for everyone. Though you may have started seeing acks yesterday. The IRS is Hub testing now. Acks will be slow in coming. Pre-Acks are now just regular advances now. You must get a...

Jan 23 2021

Now that season is going. We would like to update you on some additional helpful hints: - We do support by Calls, Tickets, Emails and Chat. During our business hours, the chat feature of our support widget gets directly to our customer sup...

Jan 08 2021

Looks like this season is going to get off to a crazy start. The Economic Recovery Payment 2 paid end of December 2020 / First of January 2021. WILL BE reconciled on their 2020 tax return. So the "$600" payment will be paid on their tax re...

Jan 06 2021

As a notice for EPS Checks and Cards - Only use cards and checks issued to your office this season. Do not use prior season checks and cards for 2021. Card Number Issue: There is an card issue that you have get the...

Jan 05 2021

IRS announced today, that e-file will start on February 12th to accept 2020 tax returns. The start of the season has been delayed due to the tax law changes on Dec. 27th. You can transmit returns now. They will be held until February 12th ...

Jan 04 2021

We would like to give you a couple reminders for the season: The links for all software is at online.ultimatetax.com. Pre-Ack loans are have started if you are offering them. This year the system is em...

Nov 17 2020

Mobile is Here! With the new operating environment changes constantly, utilize our new mobile app to retain and grow your business. Now you can prepare returns without in-office visits. The new Mobile interface is ...

Nov 07 2020

We are informing you that the IRS intends to shut e-filing on November 21st. We will stop accepting returns on November 18th. This includes individual returns for all years. No returns will be accepted until the IRS t...

Feb 17 2020

Setting up your tax preparation office means purchasing the right tools. The right equipment can help you finish your tasks efficiently and let your business processes work smoothly. Of course, buying equipment is not cheap. You will have ...

Feb 10 2020

Once you’ve set up your new tax preparation business, it’s only a matter of time to start acquiring clients. Your first clients would be your family and friends. Then, you need to start chasing after potential clients by marketing your...

Feb 03 2020

It’s tax season once again! Are you a new tax preparer? Do you plan on starting your own business? Well, now is the perfect time to start your business. ...

Jan 29 2020

It’s tax season once again! For tax professionals, the next three to four months can be the busiest time of the year. Aside from meeting with both old and new clients, you need to gather your clients’ financial documents, start prepari...

Aug 07 2018

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 b...

Feb 18 2017

The tax industry stakeholders are projecting refunds will begin hitting accounts mid-week, Feb 22nd. This is just an estimate and not a guarantee and it could take 7-10 days for the backlog of refunds to be caught up. Also note, the refunds may no...

Jan 07 2017

Expecting to spend that tax refund early? IRS has announced Tax Refund – Delays for 2017 What You Need To Know Mike Steele, owner of Ultimate Tax says that this year is going to be different. The peop...

Dec 21 2016

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...

Feb 13 2016

So 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 virtually no refunds from the second week....

Jan 16 2016

We 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 to the Health Care Exemption Tool. This step by st...

Dec 29 2015

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. T...

Nov 19 2015

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 no...

Oct 16 2015

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...

Oct 08 2015

If you are not familiar with the Freedom of Information Act (FOIA), it is a law that gives you the right to access information from the federal government. It is often described as the law that keeps citizens in the know about their government....

Oct 06 2015

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 taxp...

Sep 29 2015

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 p...

Sep 24 2015

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 f...

Sep 22 2015

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 bac...

Aug 19 2015

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 ...

Jul 30 2015

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...

Jul 20 2015

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 kn...

Jul 16 2015

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! ...

Jun 26 2015

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 pro...

Jun 23 2015

UltimateTax isn’t just about selling professional tax software. We care about the tax industry as a whole! Here is some cringe worthy news that could affect us all next year. The House has officially passed the bill to cut the IRS bu...

Jun 10 2015

There is something about my boss, Mike Steele, which you probably don’t know. Not only is he the owner and president of UltimateTax, he has been a tax professional, just like you, for over 19 years. It’s true, his tax business ...

Jun 08 2015

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...

Jun 01 2015

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 ...

May 29 2015

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 ar...

May 18 2015

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 M...

May 11 2015

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. t...

Apr 28 2015

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 identi...

Apr 24 2015

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 ...

Apr 14 2015

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...

Apr 10 2015

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 ...

Apr 10 2015

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...

Apr 10 2015

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...

Apr 06 2015

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 f...

Apr 01 2015

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 ...

Mar 30 2015

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 ...

Mar 25 2015

Not much can ruin someone’s day faster than coming home from a long day at work, ready to relax, then walk inside the house and realize someone broke in, invaded their privacy, and stole their favorite things. The only thing that can make so...

Mar 20 2015

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 Joh...

Mar 19 2015

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....

Mar 17 2015

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 20...

Mar 16 2015

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 t...

Mar 11 2015

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...

Mar 11 2015

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...

Mar 11 2015

As a tax professional, sometimes you need an answer right now. At UltimateTax we want to offer your more than professional tax software, we want to help you find solutions. Here is a quick list for you to reference of qualifying medical ex...

Mar 11 2015

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 ...

Mar 10 2015

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 t...

Feb 26 2015

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 ...

Feb 26 2015

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 wh...

Feb 25 2015

After I read this article, What If Tax Refund Theft Isn’t Really About Refund Theft?...

Feb 24 2015

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 onli...

Feb 23 2015

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 ...

Feb 20 2015

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...

Feb 20 2015

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 t...

Feb 19 2015

As a Tax Professional, you will have to ask your clients a few questions when dealing with this situation.Is your client the custodial or noncustodial parent?When is the final divorce decree dated? If the divorce dec...

Jan 22 2015

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 Ac...

Jan 12 2015

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 institutio...

Dec 11 2014

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 ...

Dec 02 2014

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 lo...

Nov 26 2014

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...

Nov 26 2014

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...

Nov 26 2014

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. ...

Nov 26 2014

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. ...

Nov 12 2014

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...

Oct 24 2014

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 so...

Oct 24 2014

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 here and renew, apply or update your current account information. Will also have the ability to ...

Oct 24 2014

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 h...

Oct 24 2014

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 benef...

Oct 06 2014

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 t...

Oct 06 2014

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 three...

Sep 30 2014

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 investo...

Sep 30 2014

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...

Sep 30 2014

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 ...

Sep 24 2014

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?...

Sep 15 2014

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 re...

Sep 12 2014

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 Id...

Sep 11 2014

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 offic...

Sep 10 2014

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 ...

Sep 09 2014

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 com...

Sep 08 2014

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...