Intuit ProConnection Tax Articles

IRS Shuts Down (and Other News)

Wed, 07 Oct 2009 08:00:00 PST

For several days just before the October 15 deadline for extensions, the IRS will be shutting down for critical operations and maintenance. That's just one of the news items in this October 2009 roundup. Plus learn more where you can find IRS videos and podcasts.

Brought to you by Intuit® ProConnection®.

Tell Clients Where to Stick Their Refund

Sun, 04 Oct 2009 08:00:00 PST

Three out of four taxpayers receive a refund each year, despite financial advice to the contrary. Soon taxpayers will have a new option for receiving their refund: a portion of the refund can go to real savings in the form of U.S. savings bonds.

Brought to you by Intuit® ProConnection®.

Eight Year-End Moves That Can Cut Clients Tax Bills for 2009 and 2010

Sun, 04 Oct 2009 08:00:00 PST

Help clients move beyond simple tax-return reporting to tax planning by sharing these eight year-end moves. Autumn is a good time to get this tax planning process started, when you are not inundated with tax returns and there is time for your clients to take action before the end of the tax year.

Brought to you by Intuit® ProConnection®.

Doing the Cleanup When a Client Loses Independent Contractor Status

Tue, 08 Sep 2009 08:00:00 PST

It seems like the IRS is looking harder at independent contractors, and in recent months, many individuals are being reclassified as employees. This change can create extra headaches in dealing with tax returns for the individual in prior years. Here's guidance on how to proceed, plus a client letter you can adapt as needed.

Brought to you by Intuit® ProConnection®.

Is 2010 the "Year of the Roth"?

Tue, 08 Sep 2009 08:00:00 PST

Many of your higher-income clients don't realize that they will have additional tax planning options starting in 2010. You can bring the good news and make tax-savvy suggestions about changes with Roth IRAs starting next year. Plus a client letter you can adapt as needed.

Brought to you by Intuit® ProConnection®.

When Clients Need Extra Help Dealing with the IRS: Taxpayer Assistance Orders

Tue, 08 Sep 2009 08:00:00 PST

If you're working with a tax client who is not getting anywhere working with the IRS to resolve an issue, new guidance shows how to contact the National Taxpayer Advocate (NTA) for extra help. Specifically, the NTA can issue a Taxpayer Assistance Order when a taxpayer is suffering or is about to suffer a significant hardship and the laws and facts support relief.

Brought to you by Intuit® ProConnection®.

IRS Okays "Quickie" S Elections for Converted Partnerships

Tue, 04 Aug 2009 08:00:00 PST

In a new revenue ruling, the IRS says that a partnership that converts to a corporation under the check-the-box rules or under a state formless conversion law can also make an immediate S election. Tax specialists Terry Myers and Dee DeScherer share the good news unlocked by Revenue Ruling 2009-15.

Brought to you by Intuit® ProConnection®.

Unemployment Can Be Taxing

Tue, 04 Aug 2009 08:00:00 PST

Unemployment can be taxing on the individuals who lose their jobs and on their families. And unemployment can be "taxing" in another way, as the unemployed individual must grapple with unfamiliar tax rules-and sometimes unexpected tax bills. We review the tax planning opportunities for individuals thrown into unemployment, and provide a client letter you can use to reach out to clients and prospects.

Brought to you by Intuit® ProConnection®.

Tax Court Eases Innocent Spouse Rules

Thu, 18 June 2009 08:00:00 PST

CHANGE IN RULES: Sometimes when a joint return results in liabilities in the form of penalties, tax, and interest, one spouse may be innocent. It used to be that an innocent spouse had only two years to apply for relief in such cases. Now a recent Tax Court decision loosens the restrictions in some circumstances. Tax specialists Terry Myers and Dee DeScherer bring us up to date on the current landscape around innocent spouse rules.

Brought to you by Intuit® ProConnection®.

Clients May Need to Take a Second Look at Form W-4

Thu, 18 June 2009 08:00:00 PST

TIME-SENSITIVE: It’s always prudent to do an annual review of your clients’ Form W-4s. While such a review would typically take place at the end of the year, we now live in more complicated times. Developments since the beginning of 2009 may require withholding adjustments.

Brought to you by Intuit® ProConnection®.

Last-Chance Opportunity: 22 Tax Breaks That Expire in 2009

Thu, 18 June 2009 08:00:00 PST

TIME-SENSITIVE: Nothing lasts forever—and the Internal Revenue Code is filled with examples. It’s difficult enough for tax professionals – let alone their clients – to keep track of precisely how long a given tax break is scheduled to last. So we’ve prepared a rundown on 22 provisions due to expire in 2009, plus a letter you can send to clients to encourage them to start tax planning now.

Brought to you by Intuit® ProConnection®.

Will Your Client Qualify for the New Sales Tax Deduction for Automobiles?

Thu, 14 May 2009 08:00:00 PST

For 2009 Tax Year: The recently enacted American Recovery and Reinvestment Tax Act of 2009 (P.L. 111-5) provides a new deduction for qualifying motor vehicles taxes. You will likely be getting questions from clients wanting to know whether they qualify for the new deduction, and other questions. Here are answers to 11 common questions plus a letter you can send to clients or prospects on the topic.

Brought to you by Intuit® ProConnection®.

Helping Clients Reduce College Costs through Tax Savings

Mon, 11 May 2009 08:00:00 PST

TIME-SENSITIVE: For clients with dependents entering college, most will be scrambling to figure out how they will be able to pay for tuition. Knowledge of some tax options can trim that overall payment; here are tips for reducing those costs, plus a client letter you can send as needed.

Brought to you by Intuit® ProConnection®.

The IRS to Get Nosier

Mon, 11 May 2009 08:00:00 PST

TIME-SENSITIVE: The IRS will be gathering even more information about your business clients' income under two massive reporting requirements. The two new requirements have big implications for tax practitioners, and accountants and bookkeepers too.

Brought to you by Intuit® ProConnection®.

New Tax Landscape with the American Recovery and Reinvestment Act of 2009

Wed, 25 Mar 2009 08:00:00 PST

Affects 2009 Tax Year. The American Recovery and Reinvestment Act of 2009 spells changes in income and payroll taxes that affect the current year, creating new obligations and new opportunities for your clients. We’ve collected several resources and links so you can learn more, including analysis of the effect of the new law on individuals and businesses, and sample letters to adapt for income tax clients.

Brought to you by Intuit® ProConnection®.