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Month: June 2019

New Login Procedure for Some Tax Software

Beginning in July, some tax software will require two-factor authentication for users to log into their tax preparation software.  This will be in addition to the usual password requirement.  (Beginning with the version for the 2016 tax year, most tax software began requiring users to enter a password to log into the software.) This new requirement will add an additional layer of security an...

IRS Schedule D Instruction Error

Recently, the IRS announced that the Schedule D Tax Worksheet that was contained in the Instructions for Schedule D for the 2018 version of Form 1040 contained an error.  The error affected taxpayers with capital gains subject to the maximum rate of 25% or 28%. Such gains are reported on lines 18 or 19 of the 2018 version of Schedule D and can result from the sales of depreciable real estate,...