Pronto Tax School New Course Added: Handling the IRS
Heads up that we created […]
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IRS Hiring New Agents?
All of a sudden it […]
Tax Pros Vs. DIY Robots
If you’re anything like most […]
IRS “math error” letters increased by 1,331% this year versus …
No, that 1,331% increase is […]
ABLE Accounts: Tax Shelter for Disabled Individuals
The Achieving a Better Life Experience (ABLE) Act of 2014 is legislation that allows states to create tax-advantaged savings programs for eligible people with disabilities called ABLE Accounts.
New IRS Form 1099-NEC
There is a new IRS form meant for business taxpayers to utilize when they pay or receive nonemployee compensation. The 1099-NEC is being reinstated for tax year 2020 and beyond. The "NEC," stands for Non Employee Compensation.
New California EITC for Non-Citizens
Recently California residents and guests desperately need economic assistance. Now there is a new California EITC for non-citizens.
Warning: Fake IRS Emails
Educate yourself and your clients about IRS impersonation email scams. Fake IRS Email have become a problem. Learn to avoid Phishing Email.
HSA Funds Can Now Be Used for Over-the-Counter Products
Thanks to the CARES Act, folks can use FSA or HSA funds to buy over-the-counter medications like pain relievers, heartburn medications, etc.
Federal Saver’s Credit
Our sweet and considerate Uncle Sam wants us to encourage our clients to save for retirement. He is so motivated that he is offering them a tax credit! You read that right, taxpayers can receive a tax credit for saving for retirement.
California Proposition 22 Passed
California Proposition 22 passed leading to new benefits for app-based drivers, including some guarantees. In this article we will be breaking down the new benefits that are now available to app-based workers operating as independent contractors.
California 2020 Individual Mandate for Health Insurance
Now anyone residing in California must have health insurance during the 2020 tax year or face being penalized
Dazzle Your Tax Clients with Good News!
Dazzle your clients with good news! Congress has approved a new Charitable Contribution deduction. This deduction is available to those who provided cash gifts to legal 501C charitable organizations. The Charitable Contribution deduction is for up to $300.
New “Check My Stimulus” Tool from IRS Available Today
IRS got its "Get My Payment, Economic Impact Payment Tool" online this morning. Clients can use this tool to input direct deposit info if none on file as of now, to get faster stimulation.
Tax Season Ending, or Just Beginning?
Compared to last year, about 66% of the total e-filed returns that were e-filed over all of last year, have been e-filed as of first week of April.
Stimulus Plan Details? $1,200 Checks for Everyone?
Some highlights we wanted to share from the new 2020 Stimulus Bill from REPORTS (not the actual bill, this is just reporting).
What Kobe Bryant Taught Me About Tax Season
I'm sharing 8 things Kobe Bryant taught me about tax season because I think if you take a moment to reflect on this list, you'll start your tax season strong, and you'll finish it even stronger.
What Does DACA Repeal Mean for Your Tax Business?
What Does the DACA Repeal Mean for Your Tax Business? When United States Attorney General Jeff Sessions announced the immediate rescission of the Deferred Action for Childhood Arrivals program on September 5, hundreds of business leaders and entrepreneurs signed and sent a letter to the White House and Congress. This letter urged the Trump administration to reconsider the decision to terminate DACA. DACA is the rule that was put in place by the Obama Administration, granting legal residence to certain immigrants who came to the U.S. as children. Here are a few things we should know about this situation, as tax professionals...
Trump Tax Changes in 2018 Budget that Affect CTEC Tax …
This blog post describes the changes to the Federal Tax Code that the Trump Administration passed essentially beginning in 2018 and how those changes effect the working CTEC.
Does President Trump Want to Put CTEC Tax Preparers Out …
Yes, President Trump does seem to want to put CTEC Tax Preparers out of business. This post describes how Trump's Tax Plan impacts CTEC Tax Preparers. In addition we go over solutions and opportunities that have resulted from these changes.