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Professional Tax Software News & Advice

Health Care Law Brings Changes to IRS Tax Forms


This year, there are some changes to tax forms related to the Affordable Care Act. Along with a few new lines on existing forms, there will also be two new forms that will need to be included with some tax returns. While most taxpayers will simply need to check a box on their tax return to indicate they had health coverage for all of 2014, there are also new lines on Forms 1040, 1040A, and 1040EZ related to the health care law. [More]

Off and Running: Let Us Know How Your Tax Season Is Going


Due to the delay in the start of tax season this year, many tax professionals have experienced a slower start than usual, but the pace is slowly picking up. With the IRS starting to release deposits as of February 5 th , tax preparers are starting to see a rise in client traffic.Tax professionals have also reported, they are starting to experience an increase in inquiries regarding health care, clients are looking to their tax preparers as a source of information about the Affordable Care Act. We want to know what you have been experiencing this tax season. [More]

The Affordable Care Act: What You Need To Know As A Tax Preparer


As tax season quickly approaches, your clients will begin to look at you, their tax preparer, as a source of information about the Affordable Care Act. It is important for you to be knowledgeable about how having health insurance or not having health insurance will affect their tax return and the new tax provisions set out in the Affordable Care Act. Read on about the changes that are set to begin in 2014 they may affect your clients. [More]

Getting Prepared for Client Affordable Care Questions


As tax season nears, your clients will begin to look to you as a source about the Affordable Care Act. In addition to being knowledgeable about how having insurance or not having insurance will affect their tax returns, it is also a good idea to learn some insurance key terms. This may help you explain the various aspects involved in choosing an insurance plan in addition to providing helpful tax advice. [More]

IRS Delays Business Requirement of Affordable Care Act


The IRS has announced that The White House has delayed a portion of the Affordable Care act that required businesses with 50 or more employees to provide health insurance or face penalties. The requirement will now take effect in 2015. Business owners were concerned about the amount of time they had... [More]