Tag Archives: Tax Prep

ACA – Instructions for identifying which Scenario your returns falls into

Scenario 1: If the return was filed between 3/9/2017 7 AM and 3/10/2017 5 AM the return is on the list because SRP was not calculated in the return and if you had a 1095A in the return, the 8962 was not calculated in the return.

Scenario 2:  If the return was filed after 3/10/2017 5 AM, the return calculated correctly and printed correctly for the taxpayer, however, SRP and/or excess APTC was excluded when the e-file was created.  This sent the wrong refund/balance due to the IRS.

Review blog post on identifying the returns and running the Problem Returns Report

Review the return by doing the following:

(1) Locate the return in your returns list

(2) Select Tools

(3) Select Client List

(4) Look at the date when the return was electronically filed

Note:  The above return falls into Scenario 2 because it was filed on 3/11

In this particular scenario, $977 was sent to the IRS in the e-file because it went through the e-file server that was not calculating ACA

In this particular scenario the difference is the $80 Excess APTC that was not included in the e-file


Blog posted 03/23/2017              6:34 AM

ACA – Instructions for identifying Potential Returns impacted by no ACA

(1) Login as a user that can run reports

(2) Click Select on Reports

(3) Click Select on Management Reports

(4) Click Problem Returns Report

(5) Click EFIN selection

(6) You must select the EFIN (even though there is only one EFIN listed)

(7) Click Run Report

Note:  If there are NO potential returns the report will be blank

If there are potential returns prepared at your site, it will include the following information

  • EFIN
  • Last 4 of SSN
  • First Name
  • Refund at the time the return was filed
  • Balance Due at the time the return was filed

Note:  If your site has prepared under 999 returns, you can search by last 4.

Note:  If your site has prepared over 999 returns, you will have to first by first name and compare the last 4 to your list

Blog posted 03/23/2017              6:25 AM EST

Private Activity Bonds Interest Tip

If you have any amounts listed within Box 11 of the 1099-DIV, please disregard them unless you are subject to Alternative Minimum Tax. If you are subject to Alternative Minimum tax you can report them under the Federal Section >> Other Taxes >> Interest from specified private activity bonds exempt from the regular tax”

Blog Posted 03/17/2017    5:52 PM EST

Form 8880 Retirement Savings Contributions Credit: Tax Prep Tip

The program pulls in all types of retirement income for the calculation of Form 8880 from your 1099-R entries.  There are certain situations when not all retirement income should be included in this calculation.  You can subtract distributions that should not apply by entering the distributions directly in the 8880. The highlighted areas below on the 8880 entry menu have been updated for better on-screen guidance so users can subtract our retirement distributions that should not be included in determining if the taxpayer/spouse qualifies for the Retirement Savings Contribution Credit. For example, military retirement income would not be included in the 8880 calculation so you would enter those distributions received as a negative value.

Blog Post 03/17/2017     8:00 AM

SRP and F8962 not Calculating in Returns (RESOLVED)

03/14/2017 — We are in the process of identifying the pool of potential returns that were impacted by this issue.  Once we make this determination we will work with the IRS Core team on a method of distribution.

3/10/2017 – 7:45am – The issues with SRP not being applied to applicable returns and the 8962 not generating in applicable return PDF’s have been resolved. If you were holding impacted returns, you may now e-file at this time. We recommend reviewing these returns prior to submission to ensure the return is accurate. We apologize for the inconvenience.

3/9/2017 – 3:00pm – We anticipate having both of the issue below resolved tomorrow morning. Please hold these returns until this post is marked as resolved.

Our development team is currently reviewing reported issues with the Health Insurance menu.

  • Shared Responsibility Payment not calculating: If a return should be subject to the Shared Responsibility Payment, it is not being applied to the return.
  • Form 8962 no calculating: If a return has completed the 1095-A within the Health Insurance menu, Form 8962 is not generating in the PDF.

We will provide more updates here as additional information becomes available.

1040NR: Changes released March 2, 2017

(1) Added a drop down list for the type of return filed in the previous year for Schedule OI

Note:  We will be adding 1040NR EZ to the drop down list

(2) Added a drop down list for the Tax Treaty Article

(3) The Tax Treaty Article now flows and prints on the Schedule OI

(4) The information now flows appropriately to lines 12 and 13 of form 8843

The following changes were released on February 14th.  In order to apply the Standard Deduction for Students and Business Apprentices from India, you must select the Standard Deduction box on the Use Standard or Itemized Deduction page.

Blog Posted 03/03/2017       6:21 AM EST


Pro Online: The “Quick File” Process in TaxSlayer

After entering the basic information from Form 13614-C, Quick File allows you to add only the source documents from Form 13614-C to the tax return. This allows you to skip the other menus within the software and go directly to the added source documents uploaded to Quick File, one-by-one.

To access Quick File, click on the drop down menu next to the taxpayer’s name as shown below:

Select “Quick File” and type in all source documents included in the tax return per Form 13614-C (in the order you want to enter the information).  Below is an example of using Quick File after entering the Basic return information

Click “Continue” at the bottom of the screen once all source documents are added.  This will allow you to enter only the documents provided by the taxpayer without moving through the other menus.

NOTE: After adding the Basic tax information, you may also go to “Summary/Print” and click on the line on Form 1040 to enter data without going through the menus for direct entry to Form 1040.

Blog Posted 03/02/2017    11:03 AM EST



Pro Online: Changes to wording in the Health Insurance Section

(1) Added the word “Gross” to the Health Care exemption Certificates screen.  At this point in the Health Care Section, the program calculates if the return is below the Household or Gross income filing threshold based on the entries in the return.

(2) Added additional verbiage for clearer on screen guidance for users to determine if the taxpayer should replay all APTC received.

Blog posted 02/28/2017                 8:21 AM EST


American Opportunity Credit: Additional Question

Scenario:  If you have a taxpayer under age 24 and not claimed as a dependent on another return and are claiming the American Opportunity Credit, as you answer the qualifying questions, you will see the last question below. This is used to calculate whether the taxpayer receives the refundable portion of AOC or if all of the credit will be nonrefundable.


Blog Posted 02/28/2017       6:24 AM EST



Creating a 1040X when the original return was not created in TaxSlayer

You will need to first create the return in the program the way it should be currently (not how it was originally submitted and accepted).

Once you have the return created, you will click on the Amended Return option in the left navigation menu and complete the Original information screen with the return data that is presented to you from the taxpayer from the originally accepted return.

Blog Posted 02/25/2017    11:26 AM EST