MFA - Multi Factor Authentication - The Federal Trade Commission safeguards rule requires tax preparation firms to use multi-factor authentication, (MFA), as does the IRS. Beginning in tax year 2025, TaxSlayer Pro includes MFA.
- Company Setup - Require Multi-Factor Authorization Yes/No option has been added.
- Preparer Edit Menu - Require Multi-Factor Authorization Yes/No option has been added as well as entry fields for MFA email and phone number for each preparer.
PrepCheck - TaxSlayer Pro PrepCheck is an artificial intelligence (AI) chatbot to assist with federal tax questions. Ask it a question, and it will mine IRS instructions, publications and TaxSlayer's Knowledgebase for the answer, then present its results along with one or more links to the source of its answer. State instructions are being built into PrepCheck.
New Tax Law Comparison Summary - The program includes a summary of the new tax provisions effecting 2025 tax returns, comparing 2025 to both 2024 and 2023. The Tax Law Comparison can be viewed by selecting the Help menu at the top of the program, then Tax Provisions Comparison or click here.
Form 1040 - The form 1040 has multiple new checkboxes. This is mainly a display and print change.
Deductions Menu - Additional Deductions (Schedule 1-A) has been added to the 2025 program to include the following changes made by the IRS:
- No Tax on Tips - Up to $25,000 per return, for tips can be deducted as a below the line deduction and will reduce Adjusted Gross Income. Tips will continue be reported on the W-2. Tips are subject to Federal Income Tax Withholding, FICA and Medicare Tax in the same manner as previously. Tip income will still be included in earned income.
- No Tax on Overtime - Up to $12,500 per individual ($25,000 maximum on a MFJ return) can be taken as a below the line deduction. It will still be considered earned income.
- No Tax on Car Loan Interest - Car loan interest is deductible for new car loans made after December 31, 2024.
- Enhanced Deduction for Seniors - Starting in 2025, taxpayers that are 65 or older can claim a new $6,000 bonus deduction. This provision was included to help offset taxes on Social Security benefits, but it is not tied to Social Security. The new $6,000 senior deduction is a below the line deduction and can be taken even if they itemize their deductions.
Form 1099-DA, Digital Asset Proceeds From Broker Transactions - This is a new form introduced by the IRS to report the sale, exchange or disposal of financial interest in a digital asset. This has been added to the Schedule D, Capital Gains/Loss menu.
Form 8839, Adoption Credit - For 2025 thru 2028, the maximum credit in 2025 will remain $17,280; however, $5,000 will now be refundable. Only the nonrefundable portion can be carryforward—the refundable portion must be claimed in the year the adoption expenses are incurred. The refundable portion shall be adjusted for CPI changes. The refundable portion will appear on Form 1040, Line 30.
Form 5695, Residential Energy Credits - The expiration date for these Residential Energy Credits is now December 31, 2025. Any remaining credit from earlier periods should be considered for use within the current cycle, as future applicability may be limited. Adjustments to this form are expected over time.
Form 8936, Clean Vehicle Credit - Each of these credits expired on September 30, 2025, for any vehicle purchased after that date. This year will be the last year to claim the Electric Vehicle Credits. This form will be phased out accordingly.
WorldPay - Tax Slayer Pro has partnered with WorldPay to allow taxpayers to easily pay their balance due with a credit card. This has been added to the Electronic Payment menu.
Additional Information: