Pre-Tax Season Checklist Series – IRS, State and Bank Requirements

The information in this article is up to date for tax year 2023 (returns filed in 2024). 

Our Pre-Tax Season Checklist series will make sure you feel prepared for a productive and profitable tax season. We’ve broken our checklist down into manageable sections, making it easier for you to stay stress-free as you organize and prepare. 

For this section of our checklist series, we’ll focus on getting time-sensitive IRS, state, and bank tasks completed. While these tasks are usually simple, getting them done early will help you avoid any processing delays. 

IRS and State Requirements Checklist 

  • Apply for an EFIN (if applicable) 
  • Apply for or renew your PTIN
  • Update your e-Services Account and obtain your EFIN tracking number 
  • Familiarize yourself with your state’s e-filing requirements for tax professionals 
  • Familiarize yourself with your state’s tax law changes for 2024 

Software and Bank Products Checklist

  • Purchase or renew 2024 TaxSlayer Pro Software 
  • Update your company’s information in Account Hub 
  • Schedule your New User Training Webinar in Account Hub (new customers only) 
  • Read and sign the Data Conversion Agreement in Account Hub (new customers only) 
  • Consider offering ancillary products and bank products to your clients 
  • Fill out and submit bank product applications in Account Hub 
  • Opt-in to offer ancillary products in Account Hub 

IRS and State Requirements 

Apply for an EFIN

If you are new to the tax preparation industry or a seasoned tax professional who has opening an additional location, you’ll need to apply for an Electronic Filing Identification Number (EFIN) for each office location. The EFIN application process takes approximately six weeks to complete, so make sure you plan to submit your applications with ample time for them to be completed before tax season starts.   

Apply for or renew your PTIN

Preparer Tax Identification Numbers (PTINs) must be renewed each year. Create or log into your IRS PTIN account to obtain or renew a PTIN. PTIN renewal usually takes just 10 minutes to complete, but you’ll be glad to have it out of the way early. 

Update your e-Services Account and obtain your IRS Tracking Number

Log in to your IRS e-Services Account as soon as possible to obtain your tracking number. You’ll need this number to update your TaxSlayer Pro company information in Account Hub. Delays accessing your e-services account could result in stressful delays in setting up your tax software. 

Familiarize yourself with your state’s e-filing requirements for tax professionals

Some states have their own requirements for tax professionals or their own laws regarding tax bank products. Make sure you know your state’s guidelines well before tax season begins. 

Software and Bank Products 

Purchase or renew 2024 TaxSlayer Pro Software 

This step is easy but crucial. Purchasing your software well before tax season will give you time to explore it before the busy season begins. If you still need to purchase or renew TaxSlayer Pro, you can compare software here or get in touch with our sales team

Schedule your New User Online Webinar Training 

If you are new to TaxSlayer Pro, be sure to register for our free new user training webinar. You’ll learn everything from software installation to electronic filing, and you’ll have an opportunity for live Q&A with the instructor.

Read and sign the Data Conversion Agreement in Account Hub 

New TaxSlayer Pro users will need to convert data from their old software company. Fortunately, we make this process simple and straightforward. After you sign the Data Conversion Agreement in Account Hub, a member of our Technical Support Team will contact you to retrieve the needed files from your prior year’s program. 

Update your company information in Account Hub 

After logging into the Account Hub in your TaxSlayer Pro software, make sure you update your company information and your IRS EFIN Tracking Number. 

Consider offering Ancillary Products and Bank Products to your clients 

Bank products help your business and allow your clients to get their refund as fast as possible. Tax bank products also allow your client to have their preparer fees taken directly out of their refund. We also offer product partnerships that directly benefit your client with identity theft and audit protection. You can learn more about selling bank products and ancillary products in our tax preparer training videos. Have more questions? Get in touch with our sales team at (888) 420-1040. 

Fill out and submit bank product applications in Account Hub 

Once you decide which bank products are the best fit for you and your clients, you’ll need to complete the bank application inside Account Hub. View our bank products overview for additional information. 

Opt-in to offer Ancillary Products in Account Hub 

If you would like to offer Ancillary Products, you can opt-in while completing your bank product application. If you plan to charge an additional amount for ancillary products and/or order marketing materials for the products, you can do so in the ancillary products section of your bank application. 

Checking off these items will lay the cornerstones for a successful tax season. You’ll be legally ready to file and equipped with software and products that help you best serve your clients. 

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