Tag: Pro Desktop

IRS Quick Alert: Extended MeF Maintenance Window

07 Sep 18
Kim Manuel
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The MeF maintenance build window is being extended on Sunday, September 09, 2018. Both ATS and Production systems will be unavailable from 12:00 a.m. until 7:00 p.m. Eastern.  The build will deploy critical system updates.

Impact:  We will not be sending returns or receiving acknowledgements during this time.

 

Suggestion Box Response: Through August 31, 2018

04 Sep 18
Kim Manuel
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No Comments

Click here to view PDF

Click here to submit a suggestion

There are three attachments

  • Attachment #1:  Dedicated to application and federal suggestions
  • Attachment #2: Dedicated to State suggestions
    • Sorted by State
  • Attachment #3:  TaxSlayer Suggestion Status
    • Broken into categories
    • Duplicates have been removed and only list the TaxSlayer Responses
    • Column indicating when the item is expected to be delivered (TS 2017 or TS 2018)
    • Column indicating if the item was added or updated since the last document (as always…prone to human error!!)

An example of the status column can be found by Tracking ID 269372 (Ctrl+F allows you search in the document)

Check out Attachment 3 to see the rest of the new and/or update items.

More exciting changes to come.

We are still reading through and analyzing the suggestions.  We are also beginning to update the Status column as we commit to implement a suggestions.

Click here to view PDF

The link will launch a Brainshark video with instructions on how to view the file.

Suggestion Box Responses: Update through August 15th

16 Aug 18
Kim Manuel
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No Comments

Click here to view PDF

Click here to submit a suggestion

There are three attachments

  • Attachment #1:  Dedicated to application and federal suggestions
  • Attachment #2: Dedicated to State suggestions
    • Sorted by State
  • Attachment #3:  TaxSlayer Suggestion Status
    • Broken into categories
    • Duplicates have been removed and only list the TaxSlayer Responses
    • Column indicating when the item is expected to be delivered (TS 2017 or TS 2018)
    • Column indicating if the item was added or updated since the last document (as always…prone to human error!!)

An example of the status column can be found by Tracking ID 269372 (Ctrl+F allows you search in the document)

Below are some of the items that we have committed to completing since the last update on August 2nd.

  • 252490: Enable the Prior Year Comparison feature
  • 284087: Add the 1099R distribution codes and reasons as an appendix to the electronic Pro Online User guide
  • 282505:  (Louisiana) Separate out the schedules in the print set to allow them to be added and printed individually
  • 229182:  (Montana) Provide a pension Exclusion prompt if a pension is reported on the Federal Return

 

Check out Attachment 3 to see the rest of the new and/or update items.

More exciting changes to come.

We are still reading through and analyzing the suggestions.  We are also beginning to update the Status column as we commit to implement a suggestions.

Click here to view PDF

The link will launch a Brainshark video with instructions on how to view the file.

Tax Reform Tip 2018-127: Taxpayers with Children and other dependents

16 Aug 18
Kim Manuel
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No Comments

For sites that have an opportunity to communicate with taxpayers that will be impacted by Tax Reform, remember there is a link to the IRS withholding Calculator on the left navigation panel when you login to your site or to the Practice Lab.

The following article was issued by the IRS as part of an educational series:

Taxpayers who have children and other dependents should use the Withholding Calculator on IRS.gov to perform a “paycheck checkup.” The Tax Cuts and Jobs Act, which was passed late last year, includes changes that will affect 2018 tax returns that people will file in 2019.

Doing a checkup ASAP will help taxpayers determine if they need to adjust their withholding on their paychecks. The earlier they do this, the better. The sooner someone checks it, the more time there is for withholding to take place evenly during the rest of the year. Waiting until later in the year means there are fewer pay periods to make the tax changes.

The new law made changes to the child tax credit and personal exemptions. Taxpayers should do a “paycheck checkup” to determine if the tax law changes could affect their tax situation this year. Here is an overview of the changes to the law that could affect the withholding of parents and caretakers:

Child tax credit

  • The maximum child tax credit increased from $1,000 to $2,000 per qualifying child.
  • Taxpayers whose income was too high to benefit from the Child Tax Credit in prior years may now find they qualify.
  • The credit now phases out at $400,000 for couples and $200,000 for singles, compared with 2017 amounts of $110,000 for couples and $75,000 for singles.

Additional child tax credit

  • The maximum additional child tax credit increased from $1,000 to $1,400.
  • The ACTC is a refundable credit for taxpayers who owe little or no federal income tax.

Credit for other dependents

  • There’s a new $500 credit that can benefit taxpayers who support other dependents.
  • The taxpayer will claim the credit when filing a tax return.
  • For purposes of this new credit, other dependents include qualifying children or qualifying relatives, such as a college student or an elderly parent.

Personal exemption

  • The new law removes the personal exemption that taxpayers formerly claimed for themself, their spouse and dependents.

The Withholding Calculator allows taxpayers to enter their expected 2018 income, deductions, adjustments and credits – including the child tax credit. Users can click on definitions in the calculator for help in figuring out who qualifies for these expanded credits.

 

Suggestion Box Responses: Responses through July 1st

02 Jul 18
Kim Manuel
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No Comments

Click here to view PDF

Click here to submit a suggestion

There are three attachments

  • Attachment #1:  Dedicated to application and federal suggestions
  • Attachment #2: Dedicated to State suggestions
    • Sorted by State
  • Attachment #3:  TaxSlayer Suggestion Status
    • Broken into categories
    • Duplicates have been removed and only list the TaxSlayer Responses

An example of the status column can be found by Tracking ID 269372 (Ctrl+F allows you search in the document)

Below are some of the items that we have committed to completing (We are still reviewing all requests and there will be more commitments coming your way)

  • Display a warning in Personal Information if an IRS IPPIN was used in the prior year so the preparer can ask the taxpayer for their new IPPIN
  • Include Education Credit as a carry forward option
  • Add Notes to the Carry Forward screen as an optional item
  • Carry  forward information from Simplified General Rule Worksheet
  • Include applied refund from previous year in Carry Forward

More exciting changes to come.

We are still reading through and analyzing the suggestions.  We are also beginning to update the Status column as we commit to implement a suggestions.

Click here to view PDF

The link will launch a Brainshark video with instructions on how to view the file.

e-News for Tax Professionals: 2018-26 New Form 1040 for 2019 Tax Season

02 Jul 18
Kim Manuel
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No Comments

The IRS posted the following news release:

R-2018-146, June 29, 2018

WASHINGTON – As part of a larger effort to help taxpayers, the Internal Revenue Service plans to streamline the Form 1040 into a shorter, simpler form for the 2019 tax season.

The new 1040 – about half the size of the current version — would replace the current Form 1040 as well as the Form 1040A and the Form 1040EZ.  The IRS circulated a copy of the new form and will work with the tax community to finalize the streamlined Form 1040 over the summer.

This new approach will simplify the 1040 so that all 150 million taxpayers can use the same form. The new form consolidates the three versions of the 1040 into one simple form. At the same time, the IRS will still obtain the information from each taxpayer needed to determine their tax liability or refund.

The new Form 1040 uses a “building block” approach, in which the tax return is reduced to a simple form. That form can be supplemented with additional schedules if needed. Taxpayers with straightforward tax situations would only need to file this new 1040 with no additional schedules.

Since more than nine out of 10 taxpayers use software or a tax preparer, the IRS will be working with the tax community to prepare for the streamlined Form 1040. This will also help ensure a smooth transition for people familiar with software products and the interview process used to prepare tax returns.

Taxpayers who file on paper would use this new streamlined Form 1040 and supplement it with any needed schedules.

Submitting Comments on the new 1040

Tax professionals can review a draft copy of the new Form 1040 and submit comments regarding the draft to [email protected]

What are the next steps?

  • The new 1040 building block approach (along with new schedules) have to be finalized by the IRS
  • The IRS MeF (modernized efile) team has to accommodate and issue any business rules associated with the new 1040 approach
  • Estimated pre-release of the new 1040 instructions is mid-October
  • TaxSlayer representatives are members of several IRS working groups and state working groups.  As we receive additional data on these changes, as well as the instructions and guidance on the Tax Reform, we will continue to update the blog.

 

 

 

 

Suggestion Box Responses – Updated through June 22nd

26 Jun 18
Craig Smith
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No Comments

Click here to view PDF

Click here to submit a suggestion

There are three attachments

  • Attachment #1:  Dedicated to application and federal suggestions
  • Attachment #2: Dedicated to State suggestions
  • Attachment #3:  TaxSlayer Suggestion Status

Attachment 3 has the duplicates removed and only has the TaxSlayer Responses.

An example of the status column can be found by Tracking ID 269372 (Ctrl+F allows you search in the document)

Below are some of the items that we have committed to completing (We are still reviewing all requests and there will be more commitments coming your way)

  • Change the wording from Cancel to Back in the state programs to be consistent with the Federal program
  • Several new “committed” items in the state spreadsheet

More exciting changes to come.

We are still reading through and analyzing the suggestions.  We are also beginning to update the Status column as we commit to implement a suggestions.

Click here to view PDF

The link will launch a Brainshark video with instructions on how to view the file.

Suggestion Box Responses: Added a 3rd PDF to reflect committed items

18 Jun 18
Kim Manuel
, ,
No Comments

Click here to view PDF

Click here to submit a suggestion

There are three attachments

  • Attachment #1:  Dedicated to application and federal suggestions
  • Attachment #2: Dedicated to State suggestions
  • Attachment #3:  TaxSlayer Suggestion Status

Attachment 3 has the duplicates removed and only has the TaxSlayer Responses.

An example of the status column can be found by Tracking ID 269372 (Ctrl+F allows you search in the document)

Below are some of the items that we have committed to completing (We are still reviewing all requests and there will be more commitments coming your way)

  • Change the wording from Cancel to Back in the state programs to be consistent with the Federal program
  • Several new “committed” items in the state spreadsheet

More exciting changes to come.

We are still reading through and analyzing the suggestions.  We are also beginning to update the Status column as we commit to implement a suggestions.

Click here to view PDF

The link will launch a Brainshark video with instructions on how to view the file.