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Release Notes
Version 24.00 – Nov. 2009
Version 24.00 – Initial Release ***Due to late tax law legislation and a delay from the IRS in the release of final form versions, e-filing is disabled for all usernames except for Training. Printing options may also be limited until the final form versions are released in January.***
PROGRAM UPDATES Version 24.00 is the first release of TaxWise for Tax Year 2009 and includes….
Automatic Processing and Printing Acknowledgments TaxWise now automatically processes any acknowledgment files received from the Electronic Filing Center and updates the return status information. Automatic printing of the acknowledgments can also be selected from the Printer Setup tab of the Setup Options
Contacting Customer Service Online: http://support.taxwise.com By e-mail: [email protected] For further information or support on any of the topics covered here- please see our Customer Support site to visit the regularly updated Hot Topics section, which keeps you up-to-date with the latest news from the IRS and TaxWise or, our Knowledge Base, to find quick and simple answers to your questions.
Previous Release Notes
Page 2
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 1…
Searching the Return List Now you can search the Return List by SSN/TIN, taxpayer’s name, spouse name, and even the telephone number. Simply click the column heading and the search changes to match the heading.
Edit Report Access The Admin user can now limit the access to reports for all other users using the Edit Report Access feature located on the Tools menu. To deny reports to any user, simply add the selected report to the Denied Reports list.
Page 3
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 2…
Watermark A watermark can be added to the File Copy, Taxpayer Federal Copy, and Taxpayer State Copy print packets in TaxWise. A default watermark is setup for each packet or you can create a custom watermark of up to twenty characters.
Closing Prompt Tired of accidentally closing TaxWise? You can enable a prompt, on the General tab of the Setup Options window, which will display when you click the close button (X) to prevent you from accidentally closing TaxWise.
Page 4
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 3…
New Report- Unprocessed Interview Files The Unprocessed Interview Files report is now available in TaxWise. This report lists both InterviewPLUS and TaxWise Interview files that have not been processed. Simply click the Reports menu and select Reports List to select this new report.
Setup Options Redesigned The tabs in Setup Options have been redesigned to be more uniform and concise. In particular, the Indirect and Direct Transmitter tabs are no longer present
.
Page 5
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 4…
Select Return to File Window Redesigned When you are ready to send federal or state returns, notice that the Select Returns to File window has now be redesigned for simplicity.
Sorting within Return Explorer The headings in the File List section of the Return Explorer can now be sorted simply by clicking the column heading. A down arrow indicates the list is sorted in descending order. An up arrow indicates it is in ascending order. Best of all, after closing out of Return Explorer or even the TaxWise program itself, the selected sort order stays as you last decided.
Page 6
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 5…
New Group in Security Manager: ReturnManager Security Manager now has a new group called the ReturnManager. The ReturnManager group has access to the same actions as the SuperUser but also has the ability to view and edit returns created by all users.
Filter Criteria The Filter Criteria window now has options to display Printed Files. Select the check box to displays printed files.
Page 7
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 6…
Send TaxWise Mail The Send TaxWise Mail option has now been divided into two separate mail options: Send Mail to SFS Support and Send Client to Client Mail.
Refund Monitor Redesigned Once a state is added to a return, notice that the primary state refund is now listed beneath the federal refund amount in the Refund Monitor. However, take note; the state refund will not display for part-year and nonresident states.
Page 8
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 7…
ZipCode Change When entering a zip code that is not in the TaxWise zip code database, TaxWise will display the newly created Zipcode Change window. Enter the city and state to create a new zip code.
Also, if you enter a zip code and the auto populated city is incorrect, you can change the information. Simply type the correct city name in the field and press Enter. Enter the correct city and state for that particular zip code in the Zipcode Change box and click Yes to save your changes.
Page 9
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 8…
Scheduling Acknowledgment Retrieval To help save you valuable time during tax season, have TaxWise automatically download acknowledgments by using the Schedule Ack Retrieval tool. You must be logged in as the Admin user and select a retrieval increment that must be at a minimum every thirty minutes and cannot exceed 24 hours. If communication fails, TaxWise automatically tries two more times to connect and receive acknowledgments. However, take note, TaxWise automatically turns off the Schedule Ack Retrieval tool after April 30, 2010.
Carrying Forward Returns TaxWise can inform you if a return has not been carried forward when you start a new return. Select the Prompt if Return not Carried Forward check box in the Enter Social Security Number dialog box to enable this useful new feature.
Page 10
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 9…
Delivery of Federal Calculation Files and Forms We have separated the process of updating the Federal tax calculation files into a modularized update process that will mimic the state module update process. Whenever you connect to the EFC, TaxWise automatically sends any federal calculation files and form updates to your computer and automatically updates the program. What does this mean for you? This means that TaxWise now has the opportunity to react quicker to changes on forms and files and update automatically- without waiting for a federal patch to download from the Customer Support Site.
EFC Reject for Incorrect Federal Version The new delivery of federal calculation files and forms also allows us to ensure that electronic returns are created and transmitted with the most current version of tax calculations. Beginning in January of 2010, we will validate the minimum version of the TaxWise program and also the version of the tax calculation files during the e-file process. The EFC will reject electronic files that were created with older versions of the tax calculation files. To correct the reject, simply download the latest update from the Customer Support Site, recreate the electronic file, and retransmit.
Modified Customer Support Tab The Customer Support tab has been renamed Support Site/Knowledge Base. Use the Support Site/Knowledge Base tab to quickly and easily find the information you need from both the Support Site and Knowledge Base.
Form 5500 Returns For the 2009 tax year, the Department of Labor is requiring Form 5500 returns to be electronically filed. TaxWise lets you quickly and easily electronically send returns to the DOL. New this tax season is the ability to create a second Form 5500 returns for the same EIN. This is for short-year and amended returns only. This function is available after the first Form 5500 return receives an acceptance acknowledgment.
Page 11
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 10…
FORM UPDATES Deleted Forms • 1040 Wkt 5, Recovery Rebate Credit Worksheet • 8861,Welfare to Work Credit- now obsolete • 8901, Information on Qualifying Children Who Are Not Dependents- now obsolete • Schedule 1, Schedule 2, and Schedule 3 have all been removed from the 1040A forms package. However, take note that they are replaced by the already in existence Schedule B, Form 2441, and Schedule R, respectively, from the 1040 form package. New Forms • 1118, Foreign Tax Credit • 3468, Investment Credit- major changes • 8834, Qualified Electric Vehicle Credit- major changes • 8915, Hurricane Retirement Distribution • 8930, Disaster Retirement Distribution • 8936, Qualified Plug-In Electric Drive Motor Vehicle Credit • Schedule L, Standard Deduction for Certain Filers • Schedule M, Making Work Pay and Government Retiree Credits • Form 1120, Schedule G, Information on Certain Persons Owning the Corporation’s Voting Stock • Form 1120S, Schedule K-1 for income received from a partnership • Form 1065, Schedule B1, Information on Partners Owning 50% or More of the Partnership
Page 12
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 11…
Form Updates •
1040X- The IRS has changed the design of the 1040X this year. TaxWise is keeping the form the same as it has always been within the program to allow for the useful comparison available on the form itself. However, take note that when the 1040X prints, it will print in the new format designated by the IRS.
•
SCH EIC- Now allows for three dependents.
Page 13
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 12… •
Form 8863- Now allows for three dependents.
Savings Bond Initiative- Form 8888 You can request a portion of your refund to buy up to $5,000 in U.S. Series I Savings Bonds. The amount you request must be a multiple of $50. If you file a joint return, the bonds will be issued in the names of both you and your spouse. You cannot designate a beneficiary under this option. For more information on the new Savings Bond Initiative, please visit http://www.irs.gov/pub/irstege/ibond_questions_answers.pdf
Version 24.00 – Nov. 2009
Version 24.00 – Initial Release ***Due to late tax law legislation and a delay from the IRS in the release of final form versions, e-filing is disabled for all usernames except for Training. Printing options may also be limited until the final form versions are released in January.***
PROGRAM UPDATES Version 24.00 is the first release of TaxWise for Tax Year 2009 and includes….
Automatic Processing and Printing Acknowledgments TaxWise now automatically processes any acknowledgment files received from the Electronic Filing Center and updates the return status information. Automatic printing of the acknowledgments can also be selected from the Printer Setup tab of the Setup Options
Contacting Customer Service Online: http://support.taxwise.com By e-mail: [email protected] For further information or support on any of the topics covered here- please see our Customer Support site to visit the regularly updated Hot Topics section, which keeps you up-to-date with the latest news from the IRS and TaxWise or, our Knowledge Base, to find quick and simple answers to your questions.
Previous Release Notes
Page 2
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 1…
Searching the Return List Now you can search the Return List by SSN/TIN, taxpayer’s name, spouse name, and even the telephone number. Simply click the column heading and the search changes to match the heading.
Edit Report Access The Admin user can now limit the access to reports for all other users using the Edit Report Access feature located on the Tools menu. To deny reports to any user, simply add the selected report to the Denied Reports list.
Page 3
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 2…
Watermark A watermark can be added to the File Copy, Taxpayer Federal Copy, and Taxpayer State Copy print packets in TaxWise. A default watermark is setup for each packet or you can create a custom watermark of up to twenty characters.
Closing Prompt Tired of accidentally closing TaxWise? You can enable a prompt, on the General tab of the Setup Options window, which will display when you click the close button (X) to prevent you from accidentally closing TaxWise.
Page 4
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 3…
New Report- Unprocessed Interview Files The Unprocessed Interview Files report is now available in TaxWise. This report lists both InterviewPLUS and TaxWise Interview files that have not been processed. Simply click the Reports menu and select Reports List to select this new report.
Setup Options Redesigned The tabs in Setup Options have been redesigned to be more uniform and concise. In particular, the Indirect and Direct Transmitter tabs are no longer present
.
Page 5
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 4…
Select Return to File Window Redesigned When you are ready to send federal or state returns, notice that the Select Returns to File window has now be redesigned for simplicity.
Sorting within Return Explorer The headings in the File List section of the Return Explorer can now be sorted simply by clicking the column heading. A down arrow indicates the list is sorted in descending order. An up arrow indicates it is in ascending order. Best of all, after closing out of Return Explorer or even the TaxWise program itself, the selected sort order stays as you last decided.
Page 6
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 5…
New Group in Security Manager: ReturnManager Security Manager now has a new group called the ReturnManager. The ReturnManager group has access to the same actions as the SuperUser but also has the ability to view and edit returns created by all users.
Filter Criteria The Filter Criteria window now has options to display Printed Files. Select the check box to displays printed files.
Page 7
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 6…
Send TaxWise Mail The Send TaxWise Mail option has now been divided into two separate mail options: Send Mail to SFS Support and Send Client to Client Mail.
Refund Monitor Redesigned Once a state is added to a return, notice that the primary state refund is now listed beneath the federal refund amount in the Refund Monitor. However, take note; the state refund will not display for part-year and nonresident states.
Page 8
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 7…
ZipCode Change When entering a zip code that is not in the TaxWise zip code database, TaxWise will display the newly created Zipcode Change window. Enter the city and state to create a new zip code.
Also, if you enter a zip code and the auto populated city is incorrect, you can change the information. Simply type the correct city name in the field and press Enter. Enter the correct city and state for that particular zip code in the Zipcode Change box and click Yes to save your changes.
Page 9
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 8…
Scheduling Acknowledgment Retrieval To help save you valuable time during tax season, have TaxWise automatically download acknowledgments by using the Schedule Ack Retrieval tool. You must be logged in as the Admin user and select a retrieval increment that must be at a minimum every thirty minutes and cannot exceed 24 hours. If communication fails, TaxWise automatically tries two more times to connect and receive acknowledgments. However, take note, TaxWise automatically turns off the Schedule Ack Retrieval tool after April 30, 2010.
Carrying Forward Returns TaxWise can inform you if a return has not been carried forward when you start a new return. Select the Prompt if Return not Carried Forward check box in the Enter Social Security Number dialog box to enable this useful new feature.
Page 10
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 9…
Delivery of Federal Calculation Files and Forms We have separated the process of updating the Federal tax calculation files into a modularized update process that will mimic the state module update process. Whenever you connect to the EFC, TaxWise automatically sends any federal calculation files and form updates to your computer and automatically updates the program. What does this mean for you? This means that TaxWise now has the opportunity to react quicker to changes on forms and files and update automatically- without waiting for a federal patch to download from the Customer Support Site.
EFC Reject for Incorrect Federal Version The new delivery of federal calculation files and forms also allows us to ensure that electronic returns are created and transmitted with the most current version of tax calculations. Beginning in January of 2010, we will validate the minimum version of the TaxWise program and also the version of the tax calculation files during the e-file process. The EFC will reject electronic files that were created with older versions of the tax calculation files. To correct the reject, simply download the latest update from the Customer Support Site, recreate the electronic file, and retransmit.
Modified Customer Support Tab The Customer Support tab has been renamed Support Site/Knowledge Base. Use the Support Site/Knowledge Base tab to quickly and easily find the information you need from both the Support Site and Knowledge Base.
Form 5500 Returns For the 2009 tax year, the Department of Labor is requiring Form 5500 returns to be electronically filed. TaxWise lets you quickly and easily electronically send returns to the DOL. New this tax season is the ability to create a second Form 5500 returns for the same EIN. This is for short-year and amended returns only. This function is available after the first Form 5500 return receives an acceptance acknowledgment.
Page 11
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 10…
FORM UPDATES Deleted Forms • 1040 Wkt 5, Recovery Rebate Credit Worksheet • 8861,Welfare to Work Credit- now obsolete • 8901, Information on Qualifying Children Who Are Not Dependents- now obsolete • Schedule 1, Schedule 2, and Schedule 3 have all been removed from the 1040A forms package. However, take note that they are replaced by the already in existence Schedule B, Form 2441, and Schedule R, respectively, from the 1040 form package. New Forms • 1118, Foreign Tax Credit • 3468, Investment Credit- major changes • 8834, Qualified Electric Vehicle Credit- major changes • 8915, Hurricane Retirement Distribution • 8930, Disaster Retirement Distribution • 8936, Qualified Plug-In Electric Drive Motor Vehicle Credit • Schedule L, Standard Deduction for Certain Filers • Schedule M, Making Work Pay and Government Retiree Credits • Form 1120, Schedule G, Information on Certain Persons Owning the Corporation’s Voting Stock • Form 1120S, Schedule K-1 for income received from a partnership • Form 1065, Schedule B1, Information on Partners Owning 50% or More of the Partnership
Page 12
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 11…
Form Updates •
1040X- The IRS has changed the design of the 1040X this year. TaxWise is keeping the form the same as it has always been within the program to allow for the useful comparison available on the form itself. However, take note that when the 1040X prints, it will print in the new format designated by the IRS.
•
SCH EIC- Now allows for three dependents.
Page 13
Release Notes
Version 24.00 – Nov. 2009
Continued from Page 12… •
Form 8863- Now allows for three dependents.
Savings Bond Initiative- Form 8888 You can request a portion of your refund to buy up to $5,000 in U.S. Series I Savings Bonds. The amount you request must be a multiple of $50. If you file a joint return, the bonds will be issued in the names of both you and your spouse. You cannot designate a beneficiary under this option. For more information on the new Savings Bond Initiative, please visit http://www.irs.gov/pub/irstege/ibond_questions_answers.pdf
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