VITA/TCE Enhancements TaxSlayer, LLC

Transcription

1 VITA/TCE 2018 Enhancements 2018 TaxSlayer, LLC

2 2018 TaxSlayer Enhancements... 4 TaxSlayer Online Enhancements... 5 User Interface and Form Changes... 5 Federal AGI Display... 5 Summary/Print Display Age... 6 Save & Enter Another Button View: Entry Method Update View: New Page updates View page View page View page Tax-Exempt Interest/Dividend Entry Relocation... 9 IRS Explanation Forms Form 2120, Multiple Support Agreement Form 4835 Now Available Form 1040NR: Accessing Schedule OI Form 1040NR: Schedule OI Information Carries to Form PR: Adjust Earned Income Form 8880 Text Change Form 8919, Uncollected Social Security and Medicare Tax on Wages Form W-2G: Gambling Losses Box Carryforward Items Preparer Notes Electronic Filing IP PIN Warning Federal Direct Debit Warning TaxSlayer Enhancements 2

3 Consents: Change in Denial Procedures Save and Return on Submission Page State Enhancements Print Icon for State Return Cancel Button now Back State Calculations Administrative Enhancements Generate PDF of IRS-Accepted Return Sorting Transmissions Menu Add Years to Custom Consents Custom Consent Report View Full SSN AGI Column on Site Production Detail Report Report Customization Reports: Introducing Categories Maximum Number of Clients to display on the Client List Client List Do not Show Accepted Returns Return Tags Smart Search Options (100 most recent Returns view) Default Search (100 most recent Returns view) Rejected Clients List Index TaxSlayer Enhancements 3

4 After completing this lesson, you should be able to: 1. List the enhancements to TaxSlayer for the 2018 Tax Year. 2. Use interface changes in TaxSlayer Pro Online, including Federal AGI display, displaying ages, Save & Enter Another button, and changes to the 1040 View entry method. 3. Find the relocated tax-exempt interest/dividend entry. 4. Add an IRS Explanation form to a return. 5. Add the following forms to a return: a. Form 2120, Multiple Support Agreement. b. Form 4835, Farm Rental Income and Expense. c. Form 8919, Uncollected Social Security and Medicare Tax on Wages. 6. Add gambling losses directly on Form W-2G. 7. Access Schedule OI in a Form 1040NR return. 8. List earned income for purposes of the child tax credit for Form 1040PR. 9. List new items that carry forward from previous years. 10. List and describe new warnings during the e-file process, including the IP PIN warning and Federal Direct Debit warning. 11. Find and use the Save and Return button on the Submission page. 12. Print a state return from the State Return summary page. 13. Generate a PDF of an IRS-accepted return. 14. Assign a year to a custom consent. 15. Generate the Custom Consent Report. 16. Describe a change to View Full SSN in Security Templates. 17. Find and use the AGI column on the Site Production Detail Report. 18. Customize report display. 19. List and describe changes to the Client List TaxSlayer Enhancements 4

5 TaxSlayer Online Enhancements User Interface and Form Changes Federal AGI Display In addition to the refund or balance due, TaxSlayer Pro Online now also displays the federal adjusted gross income (AGI) during return preparation TaxSlayer Enhancements 5

6 Summary/Print Display Age TaxSlayer Pro Online now displays the taxpayer, spouse, and first four dependents age in Summary/Print 1040 View. TaxSlayer Pro Online calculates the age as of December 31 of the tax year. This allows preparers and quality reviewers to more quickly identify potential credits and potential date of birth input errors. Save & Enter Another Button To allow easier entry of multiple forms, TaxSlayer Pro Online now contains a Save & Enter Another button for the following forms: Form W-2 Interest Income Dividend Income Schedule B Other Interest Form 1099-R Form RRB-1099-R Form W-2G 2018 TaxSlayer Enhancements 6

7 Use this button to enter multiple income documents when using Taxpayer Profiles or the Quick File feature, as well as to provide quick data input when using these forms View: Entry Method Update Previously, when using the 1040 View entry method, you needed to return to the Summary/Print page to click the next line entry. Now, TaxSlayer Pro Online automatically returns you to the 1040 View to complete the next line View: New Page updates TaxSlayer Pro Online now uses an interactive display for 1040 View as described below: 1040 View Page Interactive Display 1040 View, Page 1 New Form 1040, pages View, Page 2 Schedules 1, 2, and View, Page 3 Schedules 4, 5, and View page 1 New Form 1040, pages 1 and 2: 1040 View page 2 Schedules 1, 2 and 3: 2018 TaxSlayer Enhancements 7

8 2018 TaxSlayer Enhancements 8

9 1040 View page 3 Schedules 4, 5, and 6: Tax-Exempt Interest/Dividend Entry Relocation Reporting tax-exempt Interest and dividend Income now requires fewer clicks. To view the new Interest and Dividend entry from the Income page, use the following steps: 1. Click BEGIN on the Interest and Dividends line TaxSlayer Enhancements 9

10 TaxSlayer Pro Online displays the Interest and Dividend Income page: 2. Click BEGIN on the Interest or Dividend Income line. TaxSlayer Pro Online displays the 1099 Description Schedule B page: 3. Select the appropriate radio button. If you need to include tax-exempt interest or dividend income, click Interest Income or Dividend Income, as appropriate. 4. Click CONTINUE TaxSlayer Enhancements 10

11 TaxSlayer Pro Online displays the appropriate page: 5. Type the tax-exempt interest or dividends in the appropriate box TaxSlayer Enhancements 11

12 IRS Explanation Forms In some cases, you need to provide an explanation to the IRS for an item on the tax return. TaxSlayer has added IRS Explanation forms that will print with the assigned print set and e-file with the tax return. To add an IRS Explanation to the return, use the following steps: 1. Navigate to Miscellaneous Forms. TaxSlayer Pro Online displays the Miscellaneous Forms page with the new Explanations line: 2. Click BEGIN on the Explanations line. TaxSlayer Pro Online displays the Explanations page: 3. Determine whether the taxpayer needs a Preparer Noe explanation, Election explanation, or Regulatory explanation. 4. Click BEGIN on the appropriate line. For this example, we use Preparer Notes TaxSlayer Enhancements 12

13 TaxSlayer Pro Online displays the Preparer Note page: 5. Type a title and note to be added to the return as an explanation. 6. Click CONTINUE. TaxSlayer Pro Online displays the Preparer Notes page: 7. Click Add a Preparer Note if you need to add another explanation. 8. When you finish, click CONTINUE TaxSlayer Enhancements 13

14 Form 2120, Multiple Support Agreement You can now add Form 2120, Multiple Support Agreement, for dependents. To do so from the Dependent/Qualifying Person information, use the following steps: 1. Select the This dependent qualifies for a Multiple Support Declaration check box, as shown below: 2. Click CONTINUE TaxSlayer Enhancements 14

15 TaxSlayer Pro Online displays the Form 2120 Multiple Support Declaration page: 3. Complete the information for each person who provided at least 10%, but no more than 50%, of the support for the dependent, and who has agreed not to claim the listed individual as a dependent. 4. Click CONTINUE. 5. Review the 2120 Summary page. Form 4835 Now Available TaxSlayer added Form 4835, Farm Rental Income and Expense TaxSlayer Enhancements 15

16 To add information for this form, use the following steps from the Income menu: 1. Click BEGIN on the Farm Rental Income and Expenses line. TaxSlayer Pro Online displays the Farm Rental Income and Expenses page: 2. Complete the applicable information for Form Form 1040NR: Accessing Schedule OI When preparing a Form 1040NR return, TaxSlayer Pro Online now displays Schedule OI automatically when you click CONTINUE on the Dependents page TaxSlayer Enhancements 16

17 Form 1040NR: Schedule OI Information Carries to Form 8843 In previous years, preparers had to type the following information on both Schedule OI and Form 8843: Country of citizenship Number of days in the United States Type of visa Visa code TaxSlayer Pro Online now carries this information from Schedule OI to Form PR: Adjust Earned Income You can now adjust earned income specific to calculating the child tax credit or additional child tax credit when there are fewer than three (3) qualifying dependents on Form 1040PR. To use this feature, complete the Taxable Earned Income for Form 8812 box through the Credits menu. Form 8880 Text Change On Form 8889, TaxSlayer added clarifying text to help determine the type of coverage you should select for a taxpayer who received a distribution from an HSA (Health Savings Account) when no longer covered under an HPDP plan. Form 8919, Uncollected Social Security and Medicare Tax on Wages You can now add Form 8919, Uncollected Social Security and Medicare Tax on Wages. To add Form 8919, use the following steps from the Income page: 1. Click BEGIN on the Uncollected Social Security and Medicare Tax on Wages line TaxSlayer Enhancements 17

18 TaxSlayer Pro Online displays the Uncollected Social Security and Medicare Tax on Wages page: 2. If applicable, select whether the form belongs to the taxpayer or spouse. 3. Click CONTINUE. TaxSlayer Pro Online displays the Form 8919 Employer page: 2018 TaxSlayer Enhancements 18

19 4. Complete the information for the employer. 5. Select the appropriate reason for the form. 6. Click CONTINUE. Form W-2G: Gambling Losses Box You can now add gambling losses associated with gambling winnings directly on the Form W-2G page. TaxSlayer Pro Online automatically carries these losses to Schedule A to be deducted. To add gambling losses to the return, use the following steps: 1. Click BEGIN on the Gambling Winnings Form W-2G line. TaxSlayer Pro Online displays the W-2G Gambling Winning page: 2. Type the information on Form W-2G exactly as it appears on the Form W-2G the taxpayer received from the payer. 3. Type the amount of gambling losses associated with this Form W-2G TaxSlayer Enhancements 19

20 4. TaxSlayer Pro Online automatically carries this amount to Schedule A. Carryforward Items The following items will now carry forward from the previous year: Simplified Method Worksheet for Form 1099-R Foreign Earned Compensation (FEC) State and State ID on Form 1099-R 2018 TaxSlayer Enhancements 20

21 Form 1099-MISC Applied Refund from the Previous Year Education Credit on Form 8863 Selected preparer notes Unallowed Loss on Schedule E Preparer Notes When you carry forward a return, TaxSlayer Pro Online now displays the prior year notes. You can review each note and decide whether it should be carried forward into the current year s return. To pull each item, use the following steps. 1. Begin the carryforward process and work through to the Notes page. TaxSlayer Pro Online displays the Notes page: 2. Review each note. Clear the PULL ITEM? check box for each note you do not want to carry forward TaxSlayer Enhancements 21

22 Electronic Filing IP PIN Warning Beginning with 2018 returns, TaxSlayer Online displays a warning when the taxpayer had an IP PIN in the previous year, but the preparer has not entered one for TaxSlayer checks for taxpayer, spouse, and dependent IP PINs. Federal Direct Debit Warning If the preparer types an amount for direct debit that is higher than the Federal amount owed, TaxSlayer displays a warning when preparing to e- file the return. Consents: Change in Denial Procedures If the taxpayer denies a consent, TaxSlayer Pro Online no longer requires you to enter a PIN and date. This applies to all consents that are either assigned to or created by a site TaxSlayer Enhancements 22

23 Save and Return on Submission Page TaxSlayer added a Save and Return button on the Submission page. Use this button to return directly to the Summary/Print page in the return rather than clicking Back twice. State Enhancements Print Icon for State Return After you complete a state return during return preparation, TaxSlayer Pro Online now displays a printer icon on the state return grid. You can use this feature to print a copy of the state return. To print the state return, complete the return and then use the following steps: 1. Click the Printer icon next to the state return. Cancel Button now Back Previously, the state forms displayed a CANCEL button, which was different from the button on federal forms. Now, this button is BACK, which is consistent with the button on federal forms. You generally see this button on a sub-menu, and it returns you to the previous menu TaxSlayer Enhancements 23

24 State Calculations TaxSlayer Pro Online now performs real-time calculations for all state programs. When you type data within a state sub-menu, click Save to update the State Refund display. The preparer and quality reviewer now see immediate calculation impacts without having to exit the state portion of the return. Administrative Enhancements Generate PDF of IRS-Accepted Return Preparers and quality reviewers can now generate a PDF of the return as it was accepted by the IRS. This can be helpful if changes were made to the return after acceptance and you need to view the originally accepted return. If you need to print a return the return as it was sent to the IRS and accepted, use the following steps from the Welcome page: 1. Click Select on the Client Search line. TaxSlayer Pro Online displays the Office Client List page: 2. Find the client in the list. 3. From the Tools drop-down list, select Client Status. TaxSlayer Pro Online displays the information for the return: 4. Select the Print icon next to the Federal or State accepted return. NOTE: If an adjustment was made to a return after the site submitted it to the IRS, the preparer or quality reviewer can use this feature preparers and quality reviewers to view a PDF of the accepted tax return TaxSlayer Enhancements 24

25 Sorting Transmissions Menu When selecting returns to e-file, you can now sort each column. To sort columns on the Transmissions page, use the following step: Click the column header by which you want to sort. Add Years to Custom Consents Users with an appropriate security template can add custom consents at the site. Now, you can assign a year to each custom consent. To do this from the Configuration Menu page, use the following steps: 1. Click Select on the Consent Forms line TaxSlayer Enhancements 25

26 TaxSlayer Pro Online displays the Consent Forms page, listing any assigned consent forms: 2. Click Add. TaxSlayer Pro Online displays the Edit Consent Form page: 2018 TaxSlayer Enhancements 26

27 3. Type a name and description for your consent form. 4. Select the Consent Tax Year. 5. Complete the remaining information for the consent. Custom Consent Report You can now run a report at the site level that indicates which consents a taxpayer granted or denied. To run the report from the Welcome page, use the following steps: 1. Click Select on the Reports line. TaxSlayer Pro Online displays the Office Reporting page: 2. Click Select on the Custom Consents line TaxSlayer Enhancements 27

28 TaxSlayer Pro Online displays the Custom Consents page: TaxSlayer Pro Online includes the following columns in the Custom Consents report: SIDN EFIN Last 4 digits of the SSN First Name Last Name City State Zip Phone Office (Site) Name Column for each consent with a Yes/No indicator View Full SSN In Security Templates, you can select a designation to allow users to view the full Social Security number in the Client List. This designation now also applies to Review Returns TaxSlayer Enhancements 28

29 AGI Column on Site Production Detail Report TaxSlayer Pro Online now displays an AGI column on the Site Production Detail Report. The AGI displays for new or edited paper returns. Report Customization You can now customize the reporting display under Reports. You can limit the report list to the ones used at your site and manage the display order to fit your site s workflow. You can customize reports at the site level for users who have access to the Configuration menu with the appropriate security role. To customize reports, use the following steps from the Welcome page: 1. Click Select on the Configuration line. TaxSlayer Pro Online displays the Configuration Menu page: 2. Click Select on the Report Customization line TaxSlayer Enhancements 29

30 TaxSlayer Pro Online displays the Report Customization page: 3. Do one of the following to find the report you want to customize: a. Type the name of the report in the Report Type (Lookup) box. b. In the Report Type (Lookup) box, press the Down arrow to display a list of all reports. 4. Select the report(s) you want to display. 5. To remove a report from the list, click the X on the line for that report. TaxSlayer Pro Online displays the selected reports in Selected Report Type(s). 6. Drag the reports to display in the order you want. TIP: Click and hold the report name to drag the box. 7. Click Save. 8. From the Welcome page, click Select on the Reports line TaxSlayer Enhancements 30

31 TaxSlayer Pro Online displays the reports in the order you selected with a note that the report list is customized: TIP: If you later want to display all reports, return to Report Customization and remove the reports you have listed. Then, press the Down arrow and click each report in order to display all. Reports: Introducing Categories The site administrator can not only determine which reports show, but you can also now view reports in categories, as shown below: 2018 TaxSlayer Enhancements 31

32 Transmission Reports TaxSlayer Pro Online breaks Transmission reports into Federal and State reports: You can find the following reports in the Federal category: IRS Acknowledgements Old IRS Acknowledgements Rejected Returns Other related reports You can find the following reports in the State category: State Acknowledgements Old State Acknowledgements Other state reports Financial Reports Find Fees Charged reports in order to track fees saved by taxpayer in the Financial Reports category TaxSlayer Enhancements 32

33 Custom Configuration Items You can find reports like Custom Credit Report, Return Questions, etc. in the Custom Configuration Items category. Other Data Reports In the Other Data Reports category, you can find the Management Report that launches Web Reports. Maximum Number of Clients to display on the Client List The site administrator can determine the maximum number of clients to display on the client list. To adjust this setting, use the following steps from the Welcome page: 1. Click Select on the Configuration line TaxSlayer Enhancements 33

34 TaxSlayer Pro Online displays the Configuration Menu page: 2. Click Select on the Office Setup line. TaxSlayer Pro Online displays the Office Setup page. 3. Scroll to the Maximum number of clients to display on client list line, just above the Office Addresses section, as shown below: 4. Type a number between 10 and 999. TaxSlayer Pro Online then displays the 100 Most Recent Returns to make the list draw faster for sites with firewalls, proxy servers, and slow internet options. Note: Even if you choose 10 and you have 89 returns at your site, TaxSlayer Pro Online displays the 89 most recent returns TaxSlayer Enhancements 34

35 Client List Do not Show Accepted Returns TaxSlayer added the ability to exclude accepted returns from the client list. To exclude accepted returns, use the following steps from the Welcome page: 1. Click Select on the Client Search line. TaxSlayer Pro Online displays the Client Search page: 2. Select the Do Not Show Accepted Returns check box TaxSlayer Enhancements 35

36 TaxSlayer Pro Online excludes accepted returns, as shown below: Return Tags TaxSlayer added the ability to filter returns that do not have a return tag. 1. Select No Tag from the Filter by Return Tag list to display returns without a return tag. This provides a check and balance for the sites using return tags to track who quality reviews the return. In addition to this change, you can filter using Any Tag to display a list of returns that have been tagged. Smart Search Options (100 most recent Returns view) You no longer need an exact match when using search criteria for the following items when the Client Search is in the 100 most recent Returns view: Phone Name First (Note: Still need exact match for taxpayer last name) 2018 TaxSlayer Enhancements 36

37 Preparer First (Note: Still need exact match for preparer last name) Note: You must use a minimum of three (3) characters to search. Default Search (100 most recent Returns view) TaxSlayer Pro Online defaults the search to the last 4 digits of the Social Security number when you use the 100 most recent returns view e. Rejected Clients List TaxSlayer made the following changes to the Rejected Client list to allow you to work rejects from one common place: Telephone Number Actual data value that was rejected (isplays on all new rejects) You can now add a note from the Reject Information page: 2018 TaxSlayer Enhancements 37

38 You can now add/review Return Tags: Sort columns to more easily work through rejects 2018 TaxSlayer Enhancements 38

39 1040 View, 4, 6, 7, 9 accepted, 4, 24, 35, 36 Accepted, 24, 35 Acknowledgements, 32 Adjustments, 24 Balance due, 5 Birth date, 6 Checks, 22 Child tax credit, 4, 17 Client Status, 24 Configuration, 25, 29, 33, 34 Consent, 4, 22, 25, 26, 27, 28 Dependent, 14, 15, 22 Dividends, 6, 9, 10, 11 e-file, 4, 12, 22, 25 EFIN, 28 Employer, 18, 19 Fees, 32 Form 1040, 4, 7, 16, 17 Form 1099-MISC, 21 Form 1099-R, 6, 20 Form 8863, 21 Form 8889, 17 Form RRB-1099, 6 Form W-2, 4, 6, 19 Health Savings Account deduction, 17 Interest, 6, 9, 10 Notes, 12, 13, 21 Office Client List, 24 PDF, 4, 24 PIN, 4, 22 Preparers, 6, 17, 24 Print, 4, 7, 12, 23, 24 Print set, 12 Refund, 5, 21, 24 Reject, TaxSlayer Enhancements 39

40 Rejected, 32, 37 Reports, 27, 29, 30, 31, 32, 33 Return tags, 36, 38 Review, 15, 21, 28, 38 Schedule B, 6, 10 Security Template, 4, 25, 28 SIDN, 28 Simplified method, 20 Site administrator, 31, 33 Social Security number, 4, 28, 37 Spouse, 6, 18, 22 State, 4, 20, 23, 24, 28, 32 Submission, 4, 23 Summary/Print, 6, 7, 23 Tax-exempt interest, 4, 10, 11 Taxpayer Profile, 7 Update, 7, 24 Wages, 4, 17, 18 Warnings, TaxSlayer Enhancements 40