TaxSlayer Pro Support Connection

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Muriel May
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1 September Volume 1, Issue 1 TaxSlayer Pro Support Connection Pro Support Our Commitment In the twenty-four years TaxSlayer has served the tax professional community, we have remained committed to providing the Best Customer Support in the industry. However, we are taking our service a step further to become Customer- Obsessed! This past April, the employees of TaxSlayer were tasked with setting our Core Company Values. When the values were set, Customer-Obsessed sat at the top of the list. What does Customer-Obsessed mean to us? It means Everything we do starts and ends with our customer. This is not only the commitment from Support, but from every department and employee within the company. Being Customer-Obsessed is TaxSlayer s commitment to you. Another commitment we are making this year is to communicate more often with you through our new Blog. Communication is critical during tax season and the Blog will be an excellent source for finding out about the latest information from the IRS, States, Banks, and of course TaxSlayer. We will post to the Blog helpful tips and tricks and what our most frequent questions coming in to the Pro Support Center are at the moment. Be sure to check the Blog often as you are guaranteed to learn something new each time you visit. I am also excited to announce our newsletter TaxSlayer Pro Support Connection. The newsletter will be released three times a year and will include news articles, advice, tips, and important upcoming dates. TaxSlayer Pro Support Connection will be ed to you and posted on the TaxSlayer Pro Support website. Our next newsletter will be out in early December and include a tax season readiness checklist to prepare you for the upcoming season. As always, if we can be of any assistance to you, please do not hesitate to reach out. We are ready to help whenever you need us. Inside this issue TaxesToGo Mobile App... 2 Don t Take the Bait... 2 Protecting Your Office User Seminar... 3 New Extension Due Dates... 3 Rental Losses... 4 ITIN Renewals... 4 ACA Medicaid Expansion... 5 Contact Information... 6 Special points of interest TaxSlayer Pro Passwords expire every six months TaxSlayer Pro introduces a new Support Blog 2016 Filing Season Statistics The Origin of TaxSlayer Pro Chad Wallace - Director of Customer Support

Forward-thinking businesses large and small are integrating mobile apps into their customer experience to grow their businesses.

2 Grow Your Practice - TaxesToGo Mobile Tax App! The trend toward mobile apps is undeniable in the business world. From banking solutions to checking out at the grocery store to finding the lowest price gasoline in your area tap, and instantly fulfill your needs from your mobile device. Forward-thinking businesses large and small are integrating mobile apps into their customer experience to grow their businesses. TaxSlayer has created a mobile tax app, exclusively for our software customers to utilize as part of their tax business. 1. Improve Customer Experience Customers want to get you their tax documents and communicate with you on their own schedule. TaxesToGo allows them to snap and send you documents at their convenience. The integrated chat feature allows them to ask questions and send you information with ease. 2. Increase Your Reach Safely and Securely Regardless of the location of your tax practice, there are just some customers who can t physically get to you. Either they are existing customers who have moved out of the area or local folks with limited transportation. TaxesToGo is a secure portal to share documents and interact with those customers. Remote signature capture allows you to complete their return through e-file without them stepping foot in your office. 3. Marketing capabilities Many TaxSlayer Pro EROs use Facebook, Twitter and other social media sites to promote their tax practice. Simply include links to download the TaxesToGo app in your marketing, and with one tap you have created an interaction portal with customers and prospective customers. 4. Generate More Income Providing mobile access to your practice increases your ability to serve clients. It s like adding hours and staff to your tax season, at no additional cost! Your gains in efficiency will translate into an increase in your revenue stream. Don t Take the Bait The IRS along with state tax agencies and members of the tax industry are stepping up in the fight against cyber criminals and identity thieves. Known as the Security Summit, the group has launched several campaigns to raise awareness in the tax community, focusing attention on how tax professionals can help protect their clients. The most recent series in the Protect Your Clients, Protect Yourself campaign, Don t Take the Bait, launched on July 11 th at the IRS tax forum in Orlando, Florida. The 10-week series is geared towards tax professionals and highlights the critical need for increased computer security and diligence in identifying threats delivered through . The IRS reminds tax professionals that they not only have an obligation but a legal requirement to protect taxpayer information. What can you do? Stay up to date on the latest threats and scams targeting tax industry partners. Ensure that every employee in your office is aware of and is trained on recognizing and avoiding threats. Require all employees to read each article in the Don t Take the Bait series. Tax preparers have a vital role in preventing identity theft and protecting taxpayer information. Arm yourself with information and join the fight against cyber criminals and identity thieves. Your business and your clients -- may depend on it. (Protect Your Clients, Protect Yourself, Get a Leg Up on the Competition Your main competitor is the tax practice down the street. You can outpace that competition with advanced technology that sets you apart. Being unique allows you to retain customers in the everchanging mobile environment. TaxesToGo is included in your TaxSlayer Pro Premium desktop or ProWeb version at no additional cost. For more details, contact TaxSlayer Pro Sales at today.

Be Smart About Protecting Your Office Upgrade to Windows 10 The majority of TaxSlayer s customers are running Windows 10, which is highly recommended.

These features include built in security software (Windows Defender and Windows Firewall), and new technology to protect your computer from malicious software.

3 Be Smart About Protecting Your Office Upgrade to Windows 10 The majority of TaxSlayer s customers are running Windows 10, which is highly recommended. Windows 10 is the newest operating system from Microsoft and includes many new security features to help protect your computer. These features include built in security software (Windows Defender and Windows Firewall), and new technology to protect your computer from malicious software. Example: The recent WannaCry ransomware attack affected Windows 7 systems, but not Windows 10. Keep Windows and all Applications Updated Make sure you have Windows set to automatically download and install updates. This single action can protect you better than any security software. Update all other system applications including TaxSlayer Pro to ensure that each program on your computer is protected. Have an Offline Backup and Keep it Current An offline backup is one that is stored away from your computer in a safe location. This backup can be made on any portable media. We find that most of our customers are using USB flash drives which can be bought for less than $10. Make your backup using the Program Backup Utility in the Utilities menu. Once the backup is complete, remove the USB flash drive from the computer and store in a secure location where it will not be damaged. TaxSlayer Annual User Seminar November 16th and 17th, 2017 Due Dates for Returns on Extension September 15, 2017 Form 1065 Partnership Income Form 1120-S S Corporations October 2, Annual User Seminar Form 1041 Estates & Trusts October 16, 2017 The TaxSlayer Annual User Seminar will be held on November 16th and 17th, 2017 at the Augusta Marriott at the Convention Center in Augusta, Georgia. The TaxSlayer Annual User Seminar is a great way to network with other tax professionals that are using TaxSlayer Pro. At this seminar, participants can learn about new features in the software as well as stay up to date on the ever changing requirements for tax preparers. Form 1040 Individual Tax Return Form 1040NR U.S. Nonresident Tax Return This year s Annual User Seminar will feature a General Session with presentations from a variety of industry representatives. The second day of the seminar will feature five breakout classes where participants can earn Continuing Education Credits from an array of topics relevant to running a successful tax practice. These topics will include compliance and ethics (including ethics credit), office security and various tax topics for both advanced and new users. Form 1120 U.S. Corpo- To register for the seminar go to and select EVENTS. Here you will be able to register for the seminar and select the breakout sessions that you want to attend. For more information call TaxSlayer has also reserved a block of hotel rooms at the Augusta Marriot. You should contact the Marriott directly at to receive the special seminar rate. ganizations rate Tax Return November 15, 2017 Form 990 Exempt Or- 3

Rental Losses the Special $25,000 Allowance Filing Statistics for 2016 The IRS processed a total of 134,127,000 tax returns in 2017 123,634,000 were electronically filed 71,463,000 were filed by tax

4 Rental Losses the Special $25,000 Allowance Filing Statistics for 2016 The IRS processed a total of 134,127,000 tax returns in ,634,000 were electronically filed 71,463,000 were filed by tax professionals Visits to IRS.gov in ,315,094 The IRS issued 102,863,000 refunds in 2017 totaling 284 Billion dollars The average refund was $2,769 At times, preparers will contact Pro Support because they are puzzled by the treatment that rental losses are getting on an individual s tax return. The inquiry will typically question why a loss is being limited, or is not allowed at all on the return. There can be many reasons for a rental loss not being allowed. However the source many times for a loss being limited or not allowed is the application or non-application of the Special $25,000 Allowance for certain taxpayers. If a Taxpayer actively participates in a rental activity that has a loss, the Taxpayer may be able to deduct up to $25,000 of the loss against their Non- Passive Income ($12,500 IF MFS). When the Taxpayer s modified adjusted gross income (AGI) is $100,000 or less ($50,000 or less if MFS), the loss is deductible up to a maximum special allowance of $25,000. If the Taxpayer s modified AGI is more than $100,000 ($50,000 if MFS) but less than $150,000 ($75,000 if MFS), the special allowance is limited to 50% of the difference between $150,000 ($75,000 if MFS) and the Taxpayer s modified AGI. This special allowance is calculated on Form It is not available to any individuals whose filing status is Married Filing Separate unless the individuals lived apart for all of the year. TaxSlayer Pro Support Blog TaxSlayer Pro Support is in the process of launching a blog that will be maintained by the Pro Support Team. The TaxSlayer Pro Support Blog will focus on keeping the professional tax preparers that use TaxSlayer Pro tax software informed on matters that can affect the operation of their business. During tax season the TaxSlayer Pro Support Blog will be another avenue for TaxSlayer to share information with our professional clients. Watch the Message Center and your for our announcement of when the blog goes live. The TaxSlayer Pro Support Blog will be accessible from the TaxSlayer Pro Support website and will include an opt-in option if you d like to be notified of new posts via . ITIN Renewals for 2017 All Individual Taxpayer Identification Numbers (ITINs) not used on a federal income tax return at least once for tax years 2014, 2015 or 2016, expire on December 31, Additionally, all ITINs with middle digits 70, 71, 72 or 80 will expire at the end of this year. Affected Taxpayers must renew their ITIN this summer to avoid issues when filing 2017 tax returns. The IRS began accepting ITIN renewals on June 21. The IRS has started sending CP-48 Notices to affected taxpayers explaining the steps for renewing their ITIN. The IRS encourages taxpayers to begin the process as soon as possible and there is no need to wait for the notice of expiration. 4

Password Expiration Starting in the 2016 TaxSlayer Pro program, preparers are required to reset their password every 6 months for security purposes.

5 Password Expiration Starting in the 2016 TaxSlayer Pro program, preparers are required to reset their password every 6 months for security purposes. Preparers that created their password during tax season should now, or will in the near future, be encountering a prompt when they open the program warning them that it is time to change their password. The new password must be different from the current password and cannot be a password that was previously used. When the password is about to expire, the preparer will receive a message when logging into the program stating that the password will expire in a certain number of days. This warning starts 14 days prior to the actual password expiration. After receiving the warning, the preparer can wait for the password to expire and then follow the prompts to create a new password, or they can reset the password by going to Configuration, then Firm/ERO/Preparer, then Preparer, select the applicable Preparer. The reset option is found in Preparer Security by clearing the information found in Password/Security Question. The hardest thing in the world to understand is the income tax Albert Einstein When a State Does Not Expand Medicaid The Responsibility Payment for not having health coverage is the greater of 2.5 percent of the household income that is above the tax return filing threshold for the taxpayer s filing status, or a family s flat dollar amount. For 2017, the flat dollar amount will remain $695 per adult and $ per child. However, in future years the flat dollar amount may increase based on CPI adjustments. Thus, claiming a Coverage Exemption can have major implications on a return. One Coverage Exemption that is sometimes overlooked for lower income taxpayers is claiming the unaffordable exemption for residents of states that did not expand Medicaid. A taxpayer (spouse or dependent) that lives in one of the 19 states that did not participate in the expansion of Medicaid under the Affordable Care Act can claim this exemption if their Household Income is below 138% of the federal poverty line for their family size. For example, in 2017 a family of 4 living in a state that did not expand Medicaid can have a household income of up to $33,948 and claim this exemption. This same Taxpayer living in a state that expanded Medicaid would have to complete the affordability worksheets to claim an exemption and may not qualify. The applicable federal poverty levels based on the taxpayer s family size can be found in the Instructions for Form 8965 Coverage Exemptions. States That Did Not Expand Medicaid 1 Alabama 2 Florida 3 Georgia 4 Idaho 5 Kansas 6 Maine 7 Mississippi 8 Missouri 9 Nebraska 10 North Carolina 11 Oklahoma 12 South Carolina 13 South Dakota 14 Tennessee 15 Texas 16 Utah 17 Virginia 18 Wisconsin 19 Wyoming 5

6 TaxSlayer Pro Origins Preview of the Next/ Tax Season Edition 2017 Reference Charts TaxSlayer Pro New Features for 2017 Annual Conference Recap Tax Calendar/Filing Deadlines Tips for the 2017 Tax Season In 1989, the Berlin Wall was torn down, Ronald Reagan was leaving office and the Dow Industrial Index ended the year at 2,753. That same year, our founders created software for use in their tax office to do individual tax returns on a computer rather than doing the return by hand. Creating tax software might not seem like a revolutionary idea today, but in 1989 it was a major departure from how tax returns were done. In those days, there was no e-file, preparers had to do the return with a calculator, and the most common error on a return was a math error. In 1993, TaxSlayer Pro was marketed externally to professional tax preparers, accountants and CPAs across the United States. Eventually, TaxSlayer Pro would add a business program and would spawn other TaxSlayer products. Throughout the years, we have maintained our dedication to the quality of the tax software that is provided to you. We have and will strive to provide the most value to our clients and we remain committed to being the industry leader in service and quality. TaxSlayer Pro Support Hours of Operation Apr 19 to Dec 31, 2017 All Time Eastern Monday through Friday 8:00 AM to 5:00 PM 1040 Extensions Oct 16, :00 AM to 8:00 PM Jan 2, to Apr 17, 2018 Extended Hours Holiday Schedule Pro Support will be closed: Labor Day Sept 4, 2017 Thanksgiving Holiday Nov Noon Nov 23-24, 2017 Christmas Holiday Dec 25-26, 2017 New Years Day Jan 1, 2018 TaxSlayer Pro Contact Information Sales Sales Fax sales@taxslayer.com Pro Support Pro Support Fax prosupport@taxslayer.com IRS Phone Numbers E-file Help Desk PTIN Registration/Information Refund Status Tax Fraud FTC Identity Theft Hotline Identity Theft (Form 14039) Practitioner Assistance Business Assistance Social Security Administration Taxpayer Assistance Financial Mgmt. Services Exempt Organization Business Assistance Healthcare.gov

Choosing a Pay-or-Play Strategy. Presented by Nolan Sinclair, Customer Care Representative

Choosing a Pay-or-Play Strategy Presented by Nolan Sinclair, Customer Care Representative Integrity Data s leadership in human capital management since 1996 More than 8,000 organizations worldwide use