The TaxAct® Professional Edition program can be used to prepare your own return. To remove the preparer information from your Form 1040 U.S. Individual Income Tax Return: From within your TaxAct return, click Forms in the options bar to view the Forms Explorer (if it is not already visible). Click to expand the FEDERAL Forms folder, […]
The Withholding Summary report lists all sources for Federal, State, and Local Withholding by form (W-2, 1099-MISC etc.). At the bottom of the report, there is an All Other Withholdings field that applies to only federal withholding. Sources for withholding that are reported in the All Other Withholding field are: Form 8959 Line 24, Total Additional […]
The online backup service included with the TaxAct® Professional Enterprise Edition for the 2016 tax year had expired on May 1, 2020. You can no longer access your 2016 client data online. Please contact your Professional Edition representative for more information.
The taxpayer’s address at the top of Form 8606 Nondeductible IRAs, as well as the preparer information at the bottom of the form, are only used if the form is filed separately from the taxpayer’s return. As a result, this information does not automatically populate in TaxAct®. If Form 8606 is filed separately, it cannot […]
To access the Preparer Master Information window: From within your TaxAct® Professional Edition program, click Preparer in the upper menu bar, hover your mouse over Master Information, then click Practice. Available options in the Preparer Master Information window include: Practice Practice Name Practice ID EIN Check if self-employed Address Foreign address Contact information Preparers Add, […]
To remove the Paid Preparer information from your Form 1040 U.S. Individual Income Tax Return: From within your TaxAct Professional Edition, click Forms in the options bar to view the Forms Explorer (if it is not already visible). Click Federal from the dropdown in forms explorer, and click the Information Worksheets dropdown, then click Basic Information to see the […]
To auto-complete Form W-2 Wage and Tax Statement boxes based on income related entries: From within your TaxAct Professional Edition program, click Preparer in the upper menu bar. Now hover your mouse over Master Information, and click General. Scroll down to the Calculation Options section, and you can click the Checkbox next to the options relating to […]
Per the IRS Due Diligence Law webpage: Requirements for paid preparers when claiming certain credits or head of household filing status Under the Internal Revenue Code, a penalty can be assessed against a paid tax return preparer for not meeting due diligence requirements when preparing a return or claim for refund claiming the: Earned income […]
