Call the IRS With Your Tax Questions Live assistance is available Monday through Friday, typically from 7 AM to 7 PM local time. Individuals: 1-800-829-1040. Businesses: 1-800-829-4933. Automated assistance is available 24/7. Individuals can call 1-800-829-1040 to contact the IRS toll free. Contact Your Local IRS Office IRS Taxpayer Assistance Centers (TACs) provide in-person help […]
While working on your taxes using TaxAct, you have the option to promptly engage with one of our credentialed tax experts. Open your return in TaxAct. Click Get Live Tax Advice in the top right corner. Select the level of service that you want by choosing Chat or Speak under either Xpress Connect or Unlimited […]
What to Know What is a Trump Account? A Trump Account is a federal savings account for a child under 18. You set it up by making an election on your federal tax return. The account is administered by the U.S. Treasury. What is the $1,000 government deposit? Some children may qualify for a one-time […]
For more general information about Trump Accounts, see the Trump Account Elections – Form 4547 (IRC 530A) FAQ. If you are ready to add Form 4547 to your return, follow the steps below. Make sure you have entered dependent information in your return before proceeding. You are prompted to complete the questionnaire for each child […]
See IRS Publication 519 for details on which forms you are required to file, including information regarding the different rules for your period of residence and period of nonresidence. TaxAct supports the creation of dual-status returns. To accommodate for this situation, taxpayers need to prepare multiple returns in TaxAct. An example of how taxpayers would […]
You can use the Forms Assistant to search for and add Form 4972, Tax on Lump-Sum Distributions, to your return. In dashboard navigation, go to Resources, scroll to the Assistants section, and select Forms Assistant. In classic navigation, click Tools > Forms Assistant. On desktop, click Forms and locate the federal form in the […]
The new tax bill was signed into law on July 4, 2025. This is a major tax law change that extends many benefits from the 2017 Tax Cuts and Jobs Act, while adding new deductions and incentives for specific groups of taxpayers (seniors, tipped workers, overtime recipients, etc.). It offers opportunities for both individuals and […]
What changed in 2025? New deduction for interest that you pay on a qualifying vehicle loan. Maximum annual deduction is $10,000. You can claim it even if you take the standard deduction. Verify final assembly in the U.S. Use the NHTSA VIN Decoder to confirm final assembly location. https://www.nhtsa.gov/vin-decoder Have your 17-character VIN ready. You […]
If you have not fully completed the Federal Q&A interview, it can be difficult to locate the Federal Quick Q&A Topics. You need the program to think you have completed the Q&A if you want to access the topics, but we recommend fully completing the Q&A first to enter your information correctly. To skip the […]
What changed in 2025? A new tax law allows a deduction for qualified overtime income. You can claim a deduction of up to $12,500 (single) or $25,000 (married filing jointly). Both itemizing and non-itemizing taxpayers are eligible to take this deduction. IMPORTANT: Social Security and Medicare taxes still apply (this only affects income tax). What […]
What changes in 2025? A new tax law allows a deduction for qualified tip income. You can deduct up to $25,000 per return. Tips are still subject to Social Security and Medicare tax. What counts as “qualified tips”? For an amount to be considered a tip (and therefore “qualified”), it must meet all four conditions: […]
Preparing your Federal Return is easy using TaxAct. The Interview will take you through your return from start to finish. If you prefer to jump around, you can use the Menus or Site Map to jump to specific topics. When using TaxAct Online, there are two views that you may see. Dashboards and Classic Navigation. […]
TaxAct Online provides an easy-to-use interview format which will take you through your return from start to finish. You can also skip to any part of the interview by using the menus or the topic list. Alternatively, you can search or use one of the Assistants. Menus To navigate to a major section in the […]
The information included below is to assist you in researching your specific tax question. On the right side of any screen in the TaxAct program, there is an IRS Instructions or State Instructions link to provide additional information specific to the screen you are viewing. Our FAQs are available on our Most Popular Help Topics […]
How to Delete an Individual Form in TaxAct To remove a specific form from your TaxAct return: Open Forms Assistant In TaxAct Online, click the Tools dropdown. Select Forms Assistant. Locate the Form Click the + next to the FEDERAL Forms folder to expand it (if not already expanded). Click the + next to any relevant folders to find the form, worksheet, or document you […]
State Tax Return To obtain a copy of your tax return from a state taxing agency, visit the Request a Copy of a State Return or Transcript page for links to the websites and/or forms for each state to request a copy of your return or transcript. Federal Tax Return If you need a transcript […]
On 12/22/2017, the Tax Cuts and Jobs Act was signed into law. The provisions in this bill generally affect tax years 2018-2025. A summary of the bill’s tax provisions are provided below. The full bill, titled H.R.1 – An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on […]
The IRS Annual Filing Season Program (AFSP) is a voluntary program designed to encourage preparers, who are not otherwise required to complete continuing education, to continually increase federal tax knowledge. Preparers who participate will receive a Record of Completion issued by the IRS. To receive a Record of Completion for calendar year 2023, all continuing […]
The TaxAct® program does not support Form 8854 Initial and Annual Expatriation Statement. If you have renounced your U.S. citizenship or are a former U.S. long-term resident who has ended residency, you may be subject to the expatriation tax. Long-term residents are those that were permanent residents for at least eight of the last 15 […]
When a program is told to expect input in a certain format, e.g. certain alphabet or numeric characters, and it receives something else, it will return the invalid argument error. The most common reason for this error in TaxAct is that it’s receiving input for a language other than English. Make sure Windows Region and […]
IRS Publication 4128 Tax Impact of Job Loss is a publication by the IRS to assist displaced workers. Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.
Per IRS Publication 15-B Employer’s Tax Guide to Fringe Benefits, page 3: 1. Fringe Benefit Overview A fringe benefit is a form of pay for the performance of services. For example, you provide an employee with a fringe benefit when you allow the employee to use a business vehicle to commute to and from work. […]
Per IRS Publication 3, Armed Forces’ Tax Guide, page 11: Are My Travel Expenses as a Reservist Deductible? If you are a member of a reserve component of the Armed Forces and you travel more than 100 miles away from home in connection with your performance of services as a member of the reserves, you can deduct […]
An Enrolled Agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by either passing a three-part comprehensive IRS test covering individual and business tax returns, or through experience as a former IRS employee. Enrolled Agent status is the highest credential the IRS awards. Individuals who obtain this […]
To enlarge the font in Forms View, click the Zoom icons in the top right corner of Forms View. The icons look like magnifying glasses with a – or + in them, and when you hover your mouse over them, they say Zoom In or Zoom Out. Click the Zoom In icon to make the […]
To delete a Form, Schedule, Document Received, or Worksheet from your TaxAct® Desktop return: From within your TaxAct Desktop return, click Forms in the options bar to view the Forms Explorer (if it is not already visible). Click Federal (or State) from the dropdown in forms explorer, then click any of the My Active Forms, […]
If you use your car for business purposes, you may be able to deduct car expenses. You generally can use one of the two following methods to figure your deductible expenses. Standard mileage rate Actual car expenses Per IRS Publication 463 Travel, Gift, and Car Expenses, page 15: Actual Car Expenses If you don’t use […]
The costs of home improvements are not deductible on the federal tax return, but are added to the cost basis of the home. You will use the cost basis to compute a gain or loss on the home at the time it is sold. Per IRS Publication 523 Selling Your Home, page 9: Improvements Improvements […]
There are two different Sale of Business Property documents supported by TaxAct® in the Federal Documents Received folder. The document you fill out depends on whether the asset had been previously depreciated in the TaxAct program. TaxAct currently supports the entry of 40 asset sales on the Sale of Business Property – Sale of Business […]
IRS U.S. Tax Code, Regulations and Official Guidance webpage instructions to search the Internal Revenue Code: If you know the section number, click Go in the middle column of the Internal Revenue Code table (under the “Retrieve by section number” heading). You can either perform a Quick Search by entering “26” for the Title, then entering the […]
To determine whether you are traveling away from home, you must first determine the location of your tax home. Per IRS Publication 463 Travel, Gift, and Car Expenses, page 3: Tax Home To determine whether you are traveling away from home, you must first determine the location of your tax home. Generally, your tax home […]
Taxpayers may download forms and publications from the IRS Tax Forms and Publications webpage or may order them by calling 1-800-TAX-FORM (1-800-829-3676). The IRS toll-free number for general tax questions is 1-800-829-1040. Note that any link in the information above is updated each year automatically and will take you to the most recent version of […]
Go to the IRS Publications webpage for a numerical list of IRS publications (current and past), available in both PDF and HTML formats. Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is […]
For information regarding tax rules and regulations for military personnel, go to IRS Publication 3 Armed Forces’ Tax Guide. Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.
The TaxAct scheduled release dates for the individual state returns depend upon when each state publishes its final tax forms. We have developed the tax software for each state, but must first ensure that it corresponds with the official forms. This is the case for all tax software companies. Go to our State Program Release Dates […]
The statute of limitations for saving Federal returns is generally three years after the date the return is filed. Returns filed before the federal filing deadline (typically April 15) are considered filed on the due date of the return (here are some exceptions to this rule). For more information, go to our Record Retention – […]
An offer in compromise (offer) is an agreement between you (the taxpayer) and the IRS that settles a tax debt for less than the full amount owed. The offer program provides eligible taxpayers with a path toward paying off their debt and getting a “fresh start.” The ultimate goal is a compromise that suits the […]
Not Material Participant on Schedule F Profit or Loss from Farming Unfortunately, the TaxAct program does not support this situation. Users are unable to check No on Line E Did you “materially participate” in the operation of this business during the current tax year? in Federal Schedule F (Form 1040) Profit or Loss From Farming. Therefore, TaxAct […]
According to IRS Publication 587 Business Use of Your Home (Including Use by Daycare Providers) only daycare providers can use the percentage by time for business use of the home percentage (along with the square footage percentage). Other lines of business can only use the square footage percentage based on the portion of the home […]
Per IRS Publication 970 Tax Benefits for Education, page 44: Distributions The designated beneficiary of a Coverdell ESA can take a distribution at any time. Whether the distributions are tax free depends, in part, on whether the distributions are equal to or less than the amount of Adjusted qualified education expenses (AQEE) (defined later) the beneficiary […]
Some IRS forms haven’t been released and are currently unavailable for printing or e-filing in the TaxAct program. See the TaxAct Forms Availability webpage for more information.
The IRS Tax Information for Businesses webpage contains a wealth of information for the small business owner. Another good source of information for the small business owner is the IRS Internal Revenue Bulletins (IRBs) webpage, which is published weekly. The IRB is the authoritative instrument of the Commissioner of Internal Revenue for announcing official rulings […]
For tax information for members of the military, please see the following: Military Family Tax Benefits Tax Information for Members of the U.S. Armed Forces Publication 3 Armed Forces’ Tax Guide Note that any link in the information above is updated each year automatically and will take you to the most recent version of the […]
IRS Publication 938 Real Estate Mortgage Investment Conduits (REMICs) Reporting Information has information regarding reporting REMICs. You can use the directory in the publication to find the representative of the REMIC, then request information from that representative by telephone or mail. Your request must specify the calendar quarters and the classes of REMIC regular interests […]
Go to the IRS Where to File Paper Tax Returns With or Without a Payment webpage for a list of addresses for filing. Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is […]
See IRS Publication 4681 Canceled Debts, Foreclosures, Repossessions, and Abandonments (for Individuals) for information regarding canceled debts, foreclosures, repossessions, and abandonments. Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.
We appreciate customer comments and suggestions, and use your feedback to update our TaxAct programs each year. We compile your feedback each season and review it before we start development for next year’s product. We add and maintain forms based on the number of requests and how many customers use them. Submit your feedback to […]
An Employer Identification Number (EIN) is a nine-digit number issued by the IRS. An EIN identifies the tax accounts of employers and certain other taxpayers, and determines the type of business tax return they must file. An EIN is typically issued using the XX-XXXXXXX format. Sometimes, a letter or an employee plan number (for example, […]
The IRS has a number of Online Tools and Resources available from their website. Due to their high call volumes, you may want to explore those options first for faster service. If you determine you do need to call for assistance, the site instructs how to prepare for the call and the information you will […]
