TaxSlayer Basics Guide

Transcription

1 TaxSlayer is the IRS sanctined sftware that is used t prepare and e-file tax returns. As pictured in Sectin 2 Filing Basics, taxpayers will cmplete an Intake/Interview & Quality Review sheet. The infrmatin prvided n this sheet will be entered int TaxSlayer and used t prepare a quality tax return. T access TaxSlayer, g t Enter Passwrd: TRAINPROWEB Nte: Yu will need t use the link and passwrd whenever accessing the practice lab. Create a new Accunt 1. Enter the fllwing infrmatin a. (must cnfirm ) b. Username i. Use Test in the username. Fr example TestCurtney16 c. Create passwrd (cnfirm passwrd) i. Write passwrd here: d. Prgram Type i. Select VITA e. Site Identificatin Number (SIDN) i. Use: S f. Select Security Questin fr Passwrd Recvery g. Prvide Security Answer yu will remember Tax Help Clrad 2016 TaxSlayer Basics Guide Page 1

2 Sign int TaxSlayer with Username & Passwrd Tax Help Clrad 2016 TaxSlayer Basics Guide Page 2

3 Select G t Practice Area Frm here yu can Start a New Tax Return r use the Client Search t cntinue n a previusly created return. Nte: Make sure all infrmatin entered n the tax return is in ALL CAPS. When starting a new return, enter the Scial Security Number exactly as it is n the Scial Security Card. Nte: In the practice lab the middle tw numbers will be 00. This will nt affect cmpletin f practice returns. Tax Help Clrad 2016 TaxSlayer Basics Guide Page 3

4 1. Basic Infrmatin Yu will first enter the filing status f the taxpayer. Yu can use the Filing Status Wizard t help determine the filing status. NOTE: The filing status wizard will nt enter the filing status fr yu; s make sure t select a filing status. Next, use the intake sheet and scial security cards r ITINS t fill all fields fr the taxpayer s persnal infrmatin: Enter the taxpayer s name exactly as it is n the Scial Security Card r ITINS. TaxSlayer will fill the Scial Security Number field fr yu. Read the Intake Sheet carefully t determine if any f the bxes need t be checked ff. Tax Help Clrad 2016 TaxSlayer Basics Guide Page 4

5 Enter taxpayer s current address and at least ne phne number. Select Cntinue after each page t ensure the infrmatin saves. Dependents If the taxpayer has dependents, select Yes Dependent/Qualifying Child Infrmatin- Fill all fields Enter the Dependent(s) name as it is n the Scial Security Card. Nte: TaxSlayer will autmatically fill in the dependent s last name with the taxpayer s last name. Make sure t crrect this if the dependent s last name is different. Use the intake sheet/ask the taxpayer questins t check ff all apprpriate bxes. Tax Help Clrad 2016 TaxSlayer Basics Guide Page 5

6 2. Federal Sectin Select Enter Myself fr all sectins. It is imprtant t enter infrmatin exactly as it appears n all tax frms. Incme: Wrk dwn the frms list t reprt all incme such as W2, 1099, etc. It is imprtant t enter infrmatin exactly as it appears n all tax frms. Duble check addresses and withhlding amunts n all frms. If a taxpayer s current address des nt match the address listed n the tax frm, crrect the address n TaxSlayer t match the frm. This will nt change their mailing address n the basic infrmatin page. Deductins: This is where yu reprt deductins, adjustments, and credits. Other Taxes: This is where yu reprt miscellaneus taxes, like the First-time Hmebuyer Repayment. Payments and Estimates: This is where yu enter estimated payments and withhldings. Miscellaneus Frms: Includes Injured Spuse frm and ITIN Applicatin. Tax Help Clrad 2016 TaxSlayer Basics Guide Page 6

7 3. Health Insurance: Reprt infrmatin abut health cverage. Includes Marketplace cverage, Penalties and Penalty Exemptins. 4. State Sectin: Add state return here. Nte: Fr mst Tax Help Clrad lcatins, nly the Clrad State return can be cmpleted. 5. Summary/Print: Here yu can preview frm Clicking n the amunt n any line will direct yu t the specific page assciated with the line. 6. E-File Yu will be prmpted t answer questins regarding the EIC, if the taxpayer appears eligible fr the tax credit. Nnresident alien: Answer accrdingly Taxpayer a qualifying child: Answer accrdingly Did yu cmplete frm 8867 and/r perfrm the due diligence required: Answer yes t this questin if yu went thrugh the intake sheet with the taxpayer thrughly and ensured that the dependents listed are qualifying children fr EITC purpses. See sectin 9 in the curriculum r 4012, Tab I fr mre infrmatin. Additinal questins: Answer Des Nt Apply Recrds: As a VITA site, we d nt need t keep any recrds Dcuments t cnfirm business: Only necessary if they were selfemplyed. If the taxpayer is nt self-emplyed, select, Did nt rely n any dcuments. Qualifying Child Questin: Answer accrdingly Dcument used t determine residency: Select, Did nt rely n any dcuments. Tax Help Clrad 2016 TaxSlayer Basics Guide Page 7

8 Return Type: If direct depsit infrmatin is desired select either Direct Depsit r Paper Return with Direct Depsit. Tax Preparatin and E-File Infrmatin D Nt use this sectin State Return Select hw the taxpayer wuld want t receive their state refund and return type Tax Help Clrad 2016 TaxSlayer Basics Guide Page 8

9 Taxpayer Bank Accunt Infrmatin Use infrmatin prvided by taxpayer t fill ut the direct depsit infrmatin. When cnfirming the ruting and accunt numbers, d nt use the numbers already entered but nce again take it frm the infrmatin prvided by the taxpayer t ensure accuracy. If either accunt numbers are entered incrrectly, the taxpayer may nt receive their refund Amended Return - Here yu can find infrmatin fr amending the current return. 8. Save & Exit Return - When yu need t exit a return, be sure t save. Tax Help Clrad 2016 TaxSlayer Basics Guide Page 9