Click here for a PDF of detailed survey responses for TaxACT 2009 Preparer’s 1040 Edition. Tax program name TaxACT 2009 Preparer’s 1040 Edition Vendor name 2nd Story Software Inc. Telephone 800-573-4287 E-mail address support@TaxACT.com Web site taxact.com Price on Federal 1040 $119 Is this an increase from last year? By
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TOPICS / TAX
Individual income taxation
Tax Software Survey: TaxSlayer Pro
Click here for a PDF of detailed survey responses for TaxSlayer Pro. Tax program name TaxSlayer Pro Vendor name TaxSlayer Pro Telephone 888-420-1040 E-mail address sales@taxslayerpro.com Web site taxslayerpro.com Price on Federal 1040 $895 Is this an increase from last year? By how much? No Renewal price $795 (Early renewal
Tax Software Survey: TaxWise Complete Tax and Accounting
Click here for a PDF of detailed survey responses for TaxWise Complete Tax and Accounting. Tax program name TaxWise Complete Tax and Accounting Vendor name CCH Small Firm Services Telephone 800-775-9473 E-mail address Eriana.Rivera-Rozo@cchsfs.com Web site taxwise.com Price on Federal 1040 $3,625 (includes e-filing, all tax modules, all states, accounting
2009 Tax Software Survey
The JofA and The Tax Adviser surveyed our readers to determine what they liked and did not like about their tax preparation software. The survey was conducted in late June and early July and received 9,776 responses. Below are results showing how many respondents used each product and overall ratings by
Tax Software Survey: Drake Software
Click here for a PDF of detailed survey responses for Drake Software. Tax program name Drake Software Vendor name Drake Software Telephone 800-890-9500 E-mail address Sales@drakesoftware.com Web site drakesoftware.com Price on Federal 1040 $1,395 (with early season discounts as low as $995) Is this an increase from last year? By
Tax Software Survey: GoSystem
Click here for a PDF of detailed survey responses for GoSystem. Tax program name GoSystem Vendor name Thomson Reuters Telephone 800-968-8900 E-mail address CS.Sales@ThomsonReuters.com Web site cs.thomsonreuters.com Price on Federal 1040 Starting at $2,900 Is this an increase from last year? By how much? No Renewal price Starting at $2,900
Tax Software Survey: ProSeries Professional
Click here for a PDF of detailed survey responses for ProSeries Professional. Tax program name ProSeries Professional Vendor name Intuit Inc. Telephone 800-934-1040 E-mail address APD_Sales@intuit.com Web site www.proseries.com Price on Federal 1040 $1,399.00 Is this an increase from last year? By how much? Yes, $100.00 difference Renewal price Same
Tax Software Survey: TurboTax
Click here for a PDF of detailed survey responses for TurboTax. Tax program name TurboTax – for Individual Consumer Use Vendor name Intuit Inc. Telephone 800-624-8384 E-mail address Submitted via TurboTax.com Web site Web site www.turbotax.com Price on Federal 1040 $74.95 Is this an increase from last year? By how
Tax Software Survey: ATX 1040 Office
Click here for a PDF of detailed survey responses for ATX 1040 Office. Tax program name ATX 1040 Office Vendor name CCH Small Firm Services Telephone 800-728-9776 E-mail address sales@atxinc.com Web site www.atxinc.com Price on Federal 1040 $635.00 Is this an increase from last year? By how much? No Renewal
Tax Software Survey: TaxSimple
Click here for a PDF of detailed survey responses for TaxSimple. Tax program name TaxSimple Vendor name TaxSimple Telephone 973-989-8955 E-mail address jvora@taxsimple.com Web site taxsimple.com Price on Federal 1040 $100 – $695 Is this an increase from last year? By how much? No Renewal price $100 – $695 State
Harvesting Tax Benefits of Green Building Incentives
In the past two years, several federal tax incentives have been extended and enhanced for designing and constructing energy-efficient buildings, both residential and commercial. Some of these measures should be equally attractive for businesses and individuals looking to remodel existing homes and workplaces to save on energy and, as a
Taxpayer Reimbursed Legal Fees Paid by Third Party
A taxpayer who successfully challenged a deficiency notice incurred legal fees eligible for reimbursement under IRC § 7430 even though the fees were paid by a co-litigant, the Ninth Circuit of Appeals said, overruling the Tax Court. IRC § 7430 permits courts to reimburse reasonable administrative and litigation costs paid
Reduced Gain Opportunity Means Higher Tax Bill
The Tax Court held that a leveraged securities agreement was not a securities lending arrangement under IRC § 1058 since its economic substance indicated the taxpayers’ opportunity for gain had been reduced. Thus the arrangement was treated as two separate sales transactions; the first resulted in no gain or loss,
Taking Advantage of the RMD Holiday for IRAs
For 2009 only, the required minimum distribution (RMD) rules applicable to retirement plan withdrawals have been waived. This allows retirees to forgo a year’s distributions. The benefit of this suspension may seem obvious: The beneficiary can defer taxable income and hopefully the holdings—likely battered over the past year—can recover before
AICPA: Existing Law Sufficient to Regulate Preparers
The IRS already has authority to regulate currently unlicensed tax return preparers without additional legislation, the chair of an AICPA tax committee told the Service in a public forum Thursday in Washington. Michael P. Dolan, chair of the AICPA’s IRS Practice and Procedures Committee, made the remarks during a panel
IRS Launches Dialogue on Preparer Standards
An IRS public dialogue on new standards for tax preparers gets under way this week with public forums and a formal request for comments. The Service announced last month it would propose a new regulatory regime for paid tax return preparers, one that would include so-called unenrolled preparers—those who are
IRS Issues Proposed Regs on Claiming Reduced Research Credit
The IRS released proposed regulations on Wednesday that would simplify the procedures taxpayers must follow to claim the reduced research credit under IRC § 280C(c)(3). Taxpayers who claim a credit under section 41 for increasing research expenses must reduce their research expense deduction under section 174 by the amount of
IRS Issues Guidelines for Low-Speed Electric Car Manufacturers
On July 10, the IRS issued Notice 2009-58, which provides procedures for car manufacturers to certify that their vehicles qualify for the new plug-in electric vehicle credit under IRC § 30. Taxpayers who buy a qualified electric vehicle between Feb. 17, 2009, and Jan. 1, 2012, can take a credit
IRS Temporarily Suspends Collection Enforcement on Certain Listed Transactions
In a letter to Rep. John Lewis, D-Ga., chairman of the House Ways and Means Committee’s Subcommittee on Oversight, IRS Commissioner Doug Shulman stated on July 6 that the IRS will suspend collection enforcement activities on certain listed transactions through Sept. 30. IRC § 6707A imposes penalties on taxpayers who
Chief Counsel Outlines Litigation Tactics for Innocent Spouse Cases
In response to the recent Tax Court decision in Porter, 132 TC no. 11 (2009) (Porter II), the IRS Chief Counsel’s office released a memorandum outlining IRS litigation tactics in innocent spouse cases (CC-2009-021). In Porter II, the Tax Court held that it would apply a de novo standard of
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