2015 Tax Update Seminar

Transcription

2015 Tax
Update
Seminar
2014
CCH® Tax
Update
Training Guide
ProSystem fx ® Tax, Global fx ® Tax and CCH Axcess™ Tax
2015 Update Seminar
Introduction
This guide accompanies the Tax Update Seminar, that introduces you to the latest enhancements to ProSystem
fx Tax, Global fx and CCH Axcess Tax, all shown using the Worksheet View interface. During this session, we
cover system changes and new forms and functions in the program, all intended to increase your efficiency and
productivity in preparing and reviewing tax returns. Unless specified, all changes apply to each of the
platforms.
This Tax Update seminar is for individuals experienced with ProSystem fx Tax, Global fx or CCH Axcess Tax and
we assume that you have a working knowledge of the program. If you have new staff members that require
training, we recommend you utilize our web-based New User Training. The web-based training allows us to
train your staff in your office using just an Internet connection and a telephone. Please visit our website at
ProSystem fx Tax Training or call Customer Training at 800-739-9998, option 2 for more information.
Continuing Professional Education
This course qualifies for three hours of Taxes credit. Visit http://cchgroup.com/training/feedback to request
CPE and provide an evaluation of this course.
Session code:
**CPE Qualification may vary by state**
Objectives
Icon Legend
Upon completion of this course, you should be able to:
• Identify new forms added to the tax programs, including associated data entry, calculations and output
• Take advantage of technology enhancements that offer improvements in ease-of-use functionality
• Use tools and tips to help you increase productivity in preparing and reviewing returns
• Use pre-season steps to get you ready to process 2014 tax returns
CCH Training & Consulting
Keys
Quick reference to the key aspects of a particular function
Tip
Best practice tips and shortcuts
Notes
Informational notes about functions
Caution
Important warnings about a function
Write
Steps or information to write down
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2015 Update Seminar
Table of Contents
Administrative and Office Manager ........................................................................................................................ 1
Administrative .................................................................................................................................................. 1
Office Manager/Configure Staff....................................................................................................................... 3
Office Manager/Configure Applications/Tax Preparation ............................................................................... 4
Office Manager/Configure Applications/Communications ............................................................................. 9
Production Processing ..................................................................................................................................... 9
Review Question .............................................................................................................................................. 9
All Return Types .................................................................................................................................................... 10
Start Up Screen Changes................................................................................................................................ 10
Federal, State or City Only Print Selection ..................................................................................................... 10
Schedule D and Form 8949 ............................................................................................................................ 10
Lookup Value and Office Manager Default Description Lengthening ........................................................... 11
Worksheet View Options ............................................................................................................................... 11
Drill Downs ..................................................................................................................................................... 12
Cover Letters for Amended Returns .............................................................................................................. 13
Form 114, Report of Foreign Bank and Financial Accounts ........................................................................... 13
Form 8941 Changes ....................................................................................................................................... 14
Frequently Asked Questions .......................................................................................................................... 14
Cover Sheets Suppression .............................................................................................................................. 15
Default for True Type Fonts............................................................................................................................ 15
Review Question ............................................................................................................................................ 15
My1040Data.......................................................................................................................................................... 17
Configure Firm ............................................................................................................................................... 17
Process ........................................................................................................................................................... 18
Status ............................................................................................................................................................. 18
Client Login .................................................................................................................................................... 19
Personal Information ..................................................................................................................................... 20
Questions ....................................................................................................................................................... 20
Income and Deductions ................................................................................................................................. 20
Worksheets .................................................................................................................................................... 21
Review and Send ............................................................................................................................................ 21
Electronic Filing ..................................................................................................................................................... 23
Schema Validation Errors ............................................................................................................................... 23
FBAR ............................................................................................................................................................... 23
Notification Emails ......................................................................................................................................... 24
Return Name .................................................................................................................................................. 24
New e-file State and City Returns .................................................................................................................. 24
CCH eSign .............................................................................................................................................................. 26
Introduction ................................................................................................................................................... 26
Setup .............................................................................................................................................................. 27
Review Question ............................................................................................................................................ 27
Individual Returns – Form 1040 ............................................................................................................................ 28
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IRS Mileage Rates ........................................................................................................................................... 28
General ........................................................................................................................................................... 28
Income/Deductions ....................................................................................................................................... 28
Taxes ............................................................................................................................................................... 31
Credits ............................................................................................................................................................ 36
Foreign ........................................................................................................................................................... 39
Tax Equalization.............................................................................................................................................. 40
State Enhancements ...................................................................................................................................... 42
Review Question ............................................................................................................................................ 45
Fiduciary Returns – Form 1041 ............................................................................................................................. 46
Facsimile Forms Added For Data Entry .......................................................................................................... 46
Form 4562, Depreciation and Amortization .................................................................................................. 47
Interest and Dividends Summary Statement ................................................................................................. 47
Electing Small Business Trust ......................................................................................................................... 47
Form 8858, Information Return of U.S. Persons With Respect to Foreign Disregarded Entities................... 48
Form 114, Report of Foreign Bank and Financial Accounts ........................................................................... 48
Form 8960, Net Investment Income Tax – Individuals, Estates, and Trusts................................................... 48
Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified
Electing Fund (PFIC) ....................................................................................................................................... 49
State Changes................................................................................................................................................. 50
Common Business (Forms 1120, 1120S and 1065)............................................................................................... 52
Form 8903, Domestic Production Activity Deduction ................................................................................... 52
Schedule M-3 ................................................................................................................................................. 52
Schedule D, Capital Gains and Losses and Form 8949, Sales and Other Dispositions of Capital Assets ....... 57
Deferral of Income Recognition from Discharge of Indebtedness................................................................. 57
Form 8621, Information Return by a Shareholder of a PFIC or QEF .............................................................. 59
Form 8586, Low Income Housing Credit........................................................................................................ 61
Form 8609-A, Annual Statement for Low-Income Housing Credit ................................................................ 62
Form 8609, Low-Income Housing Credit Allocation and Certification .......................................................... 63
Allocation and Apportionment Worksheets .................................................................................................. 63
Review Question ............................................................................................................................................ 64
Partnership Returns – Form 1065 ......................................................................................................................... 65
Amended Return Flexibility ........................................................................................................................... 65
State Changes................................................................................................................................................. 65
Corporation Returns – Form 1120 ........................................................................................................................ 67
Schedule UTP, Uncertain Tax Position Statement .......................................................................................... 67
Form 1120-C, Schedule G............................................................................................................................... 70
Insurance Returns .......................................................................................................................................... 73
State Changes................................................................................................................................................. 74
New e-file States ............................................................................................................................................ 74
Review Question ............................................................................................................................................ 75
S Corporation Returns – Form 1120S .................................................................................................................... 76
Schedule B-1, Information on Certain Shareholders of an S Corporation ..................................................... 76
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State Changes................................................................................................................................................. 76
New e-file States ............................................................................................................................................ 77
Consolidations....................................................................................................................................................... 78
Consolidated Elimination Method ................................................................................................................. 78
Consolidated Schedule M-3 – Statement Enhanced for Other Income and Other Deductions .................... 88
Tiered Consolidated Returns – New Default – Show-All Method.................................................................. 89
State Consolidated Electronic Filing Help File................................................................................................ 90
Partnership and S Corporation Consolidations .............................................................................................. 90
Review Question ............................................................................................................................................ 91
Exempt Organization – Form 990.......................................................................................................................... 92
CCH Axcess Tax ...................................................................................................................................................... 93
Electronic Filing .............................................................................................................................................. 93
Return Rebuilder ............................................................................................................................................ 96
Worksheet Grid Pagination ............................................................................................................................ 97
Transmittal Letters ......................................................................................................................................... 98
Tax – Correspondence Manager .................................................................................................................... 98
Firm – Global Lists – Tax Lists ......................................................................................................................... 99
Tax – Return Configuration Sets ................................................................................................................... 100
Firm – Settings and Defaults – Tax (Same changes as ProSystem fx Office Manager) ................................ 101
Firm – Global Lists – Tax Lists (Same changes as ProSystem fx Office Manager) ........................................ 101
DataScan ...................................................................................................................................................... 101
Preparing for Tax Season ..................................................................................................................................... 102
Important Note About Installing ProSystem fx ............................................................................................ 102
Configure Tax Preparation............................................................................................................................ 102
Staying Connected During Tax Season ......................................................................................................... 103
Review User Preferences ............................................................................................................................. 105
What’s New for 2014 ................................................................................................................................... 106
Competitive Conversions ............................................................................................................................. 106
Pre-Season Checklist / Program Release Dates .................................................................................................. 107
Pre-Season Checklist .................................................................................................................................... 107
Program Release Dates ................................................................................................................................ 108
Post-Seminar Resources...................................................................................................................................... 109
YouTube Training .......................................................................................................................................... 109
On-Demand Recorded Seminars.................................................................................................................. 109
Technical Support......................................................................................................................................... 110
Support Answers Database .......................................................................................................................... 111
Web Ticket ................................................................................................................................................... 112
Chat Online with Support ............................................................................................................................ 113
Remote Support ........................................................................................................................................... 114
Other Products – Integration and Enhancements .............................................................................................. 116
ProSystem fx Engagement ........................................................................................................................... 116
ProSystem fx Portal ...................................................................................................................................... 116
ProSystem fx Scan with AutoFlow Technology™.......................................................................................... 116
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IntelliConnect® ............................................................................................................................................. 116
CCH® Tax Prep Partner™ .............................................................................................................................. 117
IntelliForms® ................................................................................................................................................ 117
ProSystem fx Document............................................................................................................................... 118
ProSystem fx Workstream ............................................................................................................................ 120
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Administrative and Office Manager
Administrative
Software Delivery Manager
To provide customers with faster access to software product updates we will begin delivering all ProSystem fx
Suite products by the Software Delivery Manager utility.
The products delivered by electronic download include:
• ProSystem fx Tax (Tax years 2013 and newer)
• ProSystem fx Engagement (Began July 2014)
• ProSystem fx Knowledge Coach (Began July 2014)
• ProSystem fx Planning
• ProSystem fx Fixed Assets
• ProSystem fx Practice Management
• ProSystem fx Trial Balance
• ProSystem fx Scan
• ProSystem fx Workpaper Manager
• FX Direct
DVDs and CDs for the products listed above will no longer be available for sale. However, you may create backup disks from the releases that you download.
Steps to Install ProSystem fx Tax using Software Delivery Manager:
1.
2.
3.
4.
Install Software Delivery Manager
Downloading the compressed installation files from Software Delivery Manager
Extracting the installation files from what you downloaded from Software Delivery Manager
Running the installation process
Steps to Install Software Delivery Manager:
1. Download Software Delivery Manager using the link in your welcome email, or use this link:
https://sdm.prosystemfx.com/iugatewaymanager/clientdownload.aspx
2. Click Run on the File Download window
3. Click Next on the Software Delivery Manager Installation window
4. Click Next on Installation Path Confirmation window
5. Click Finish on the Install Complete Window
6. Enter your ProSystem fx Single Sign-on (SSO) account number and password on the Internet window
7. Software Delivery Manager opens
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Steps to Download ProSystem fx Tax from Software Delivery Manager:
1. Select Tax (Tax Year 2013 or 2014)
2. Click Start Download
3. Select OK to download the files to the default location.
a. Note: You are not installing the program, you are downloading the files needed for installation
The default location is Local Drive (C):\Users\Your.Name\Documents\ProSystemfxSoftware\Tax\?
? = Version Number of Tax (downloaded or extracted)
Steps to Extract ProSystem fx Tax Installation Files From Software Delivery Manager:
1. Click View product installation package link under the Download Status header
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2. Double-click the ZIP file
icon in the file window that appears
3. Click Unzip on the on the default location to begin to extract the installation files
Steps to Install ProSystem fx Tax:
1. When the extraction process completes, the installation process begins automatically.
a. Note: If it does not begin automatically, you need to double-click SETUP.EXE where you
extracted the installation files.
2. When prompted for your Permission key, select "Internet download" and click OK.
3. Enter your ProSystem fx Office SSO User ID and Password
a. Note: These are the same credentials you used when logging into Software Delivery Manager
previously.
4. If prompted, select Add Products and then click OK.
5. Click OK for the pre-selected products.
6. Verify the Tax Products you need installed have a checkmark next to them and click OK.
7. Assign the tax products to a destination drive.
a. Note: If you install ProSystem fx Tax to a network drive, make sure to choose the appropriate
network drive letter.
8. Click Assign to Drive then click OK
9. Select a program group name, the default group name "ProSystem fx Tax" appears, press OK.
10. Choose the option "Install now" and click OK.
For more information about Software Delivery Manager:
https://support.cch.com/productsupport/productSupport.aspx?id=1984
Windows XP
Wolters Kluwer, CCH no longer supports Windows XP for our software. The 2014.01000 installation process
checks the operating system of the computer where you are installing, if Windows XP is detected the
installation will not proceed. For more information: https://support.cch.com/kb/solution.aspx/sw42056.
Office Manager/Configure Staff
Tax Preparer
We added a NY preparer ID exclusion code to indicate that the preparer exclusion from the mandate.
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Office Manager/Configure Applications/Tax Preparation
Signature Block
We added separate Name, City, State and Zip code fields under the State Signature Block section.
We added a NY preparer ID exclusion code under the Preparer Identification section to indicate the preparer
exclusion from the mandate.
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Print Options
We added a Suppress cover sheets box to the Print Options area of the Formatting and Print Options tab. You
can make this selection on a per-return basis at General > Return Options > Processing Options> Suppress
cover sheets (Interview Form 3).
Electronic Filing Options
Individual tab
For CCH eSign, we modified the option to electronically sign Form 8879 to Electronically sign authorization
form(s) to include future state authorization forms. Also, we added an option to Enable eSign if the state
returns do not qualify.
Partnership tab
We modified the electronic filing option to a single checkbox Electronically file return
Electronic Filing Notifications
We added the option to receive notifications for FBAR (Form 114) on each of the applicable return type tabs.
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Miscellaneous Options
To change your firms default to file Schedule M-1 when total assets at year-end are at least $10 million but less
than $50 million enter an “X” in the Reserved for future use 3 field.
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1040 Options
We added Exclude federally tax-exempt interest from the state Net Investment Income checkbox under the
Miscellaneous Option section.
1041 Options
We added Suppress interest and dividend summary checkbox under the Distribution and prints options section.
We added Exclude federally tax-exempt interest from the state Net Investment Income checkbox under the
Miscellaneous Option section.
Configure Pennsylvania Cities (1040)
We added:
• Separate sections to enter addresses for Returns with refunds, Returns with payments, and Returns
with no refund or payment
• Field to enter School district code
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We also added separate fields to enter Resident, Nonresident and School district tax rates under the Due
Dates/Rates.
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Office Manager/Configure Applications/Communications
We removed the Return and Electronic Filing DCN sequence number fields.
Production Processing
Organizer
•
•
•
•
•
Added separate fields for the taxpayer and spouse identity protection PINs
Reorganized the question pages to reduce the number of questions under the Miscellaneous heading
Added separate sections to Schedules C, E, and F organizers (Forms 6, 10, and 12) for entries from
1099-MISC tied to a business entity
Moved Section 529 plan information to state organizers to better clarify which states had benefits for
these plans
The question about healthcare coverage was updated to include instructions to include Forms 1095-A,
1095-B, and 1095-C and the state organizers were updated for applicable contribution changes
Pro Forma
•
Eliminated the Allocation and apportionment transfer options for C and S Corporations
Review Question
Question: Use CCH Software Delivery Manager to install or update ProSystem fx Tax starting with tax year
2013 and newer.
A. True
B. False
Answer:
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All Return Types
Start Up Screen Changes
We added an indicator in the first column to identify a locked return. This indicates you locked the return to
prohibit changes when you select Manage/Set Status on the menu bar and entering a checkmark in the Lock
return to prohibit changes checkbox.
We changed the Preparer column to display the preparer name instead of the preparer code defined in Office
Manager.
Federal, State or City Only Print Selection
We added the ability to select more than one tax authority when selecting File/Print/Federal, State or City
Only.
Schedule D and Form 8949
The 1099-B code to indicate “Basis reported to the IRS and is reported on Schedule D” changed from code “D”
to code “1.”
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All Return Types
2015 Update Seminar
Lookup Value and Office Manager Default Description Lengthening
We increased the length of all Worksheet View fields to display the full text for selections made in either Office
Manager (violet text) or Lookup value default selections (grey text)
Worksheet View Options
We added the ability to view the active worksheets and government forms in the return as independent
selections. This applies to the Worksheet Menu Tree and Full Window Worksheet List views. We also added a
search capability in the Full Window Worksheet List view.
All Return Types
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Drill Downs
We added blue arrow icons on certain fields on page one of Federal returns that you can drill down to view
how the program arrived at the calculation for the selected field.
You can select to drill down further to view the calculation made by the program.
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All Return Types
To add the Drill Down
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button to your toolbar select Options/Customize Toolbar.
Cover Letters for Amended Returns
We now produce Cover Letters for amended returns when selected in Office Manager or on a per-return basis.
Form 114, Report of Foreign Bank and Financial Accounts
•
•
Added the ability to override or suppress the preparer information
Added the ability to override the filer information
All Return Types
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•
In Worksheet View, we changed the Financial Accounts Information section(s) to a summary grid to use
the import/export Microsoft® Excel® feature. You can find these entries at:
o Individual Returns: Foreign > 114 and 8938 - Foreign Assets > All Sections except General
Information
o All other Returns: Foreign >114/8938 - Foreign Financial Accounts Information > Financial
Accounts Information
o Note: This change does not apply to Fiduciary returns
Form 8941 Changes
Two new questions are on Form 8941. You can find the entries at Credits > Form 8941 – Credit for Small
Employer Health Insurance Premium for business returns and at the activity level for Individual returns (i.e.
Income/Deductions > Business > Form 8941 – Credit for Small Employer Health Insurance Premiums).
•
•
Average annual wage limitation increased to $51,000
The maximum credit increases to 50 percent of premiums paid for small business employers and 35
percent of premiums paid for small tax-exempt employers.
Frequently Asked Questions
We included the Federal, State and City FAQs in the General Information sections of the Help screens.
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All Return Types
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Cover Sheets Suppression
We added the ability on a per-return basis to suppress the printing of Tax Authority cover sheets at General >
Return Options > Processing Options > Suppress Cover Sheets.
Default for True Type Fonts
The option to Utilize True Types fonts for print processing is checked when you select File/Printer Setup.
Review Question
Question: You can view active worksheets and government forms in the return as an independent selection.
A. True
B. False
Answer:
All Return Types
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Question: You can suppress the printing of Tax Authority cover sheets in:
A.
B.
C.
D.
E.
Office Manager
Production Processing
Per Return Basis at General > Return Options > Processing Options > Suppress Cover Sheets
Both A and C
None of the Above
Answer:
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All Return Types
2015 Update Seminar
My1040Data
My1040Data is a completely new web-based tax organizer that makes it easier for your clients to provide their
personal information and all associated tax return documentation to you.
• My1040Data is an online alternative to the traditional paper organizer and provides these features:
o Can be used on most desktop computers, laptops and tablets
o Standard questions are structured into more logical groups
o Ability to attach electronic copies of forms, scanned images, spreadsheets and other types of
documents
o Capability to enter information directly into My1040Data
• Customize the firm information appears on the My1040Data Welcome Page, including your firm name,
address and logo
• Quickly and accurately fill My1040Data with last year’s roll forward information – one client at a time,
multiple clients or all clients at one time
• Enable your clients to provide details about any particular piece of data using a Notes feature on each
page
• Track each client’s progress that is reported as “Unopened,” “In Progress” or “Completed” through a
powerful status system
• View completed My1040Data organizers online, then download the information to a PDF file
• Print your client’s attachments and route them to ProSystem fx Scan
• Control staff access for each My1040Data organizer. You can use the same security levels established in
ProSystem fx Tax or you can create new users in the My1040Data Toolkit
•
•
For 2014 tax returns, you cannot import data entered by clients into ProSystem fx Tax
Not currently available for Global fx Tax and CCH Axcess Tax
Configure Firm
Use Configure Firm to enter firm detail, logo, select options and client access.
• Force clients to change password on first time access
• Firm staff members to receive notification once clients complete the organizer
My1040Data
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Process
Use Process to create the organizers used in My1040Data.
• Create Organizers for roll forward clients
• Create New Client Organizer
Status
Use Status to follow your client’s progress through My1040Data and review the toolkit processing history.
• View/Print Status, Organizer and Attachments
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My1040Data
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Client Login
My1040Data
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Personal Information
Questions
Income and Deductions
Your clients use the Income and Deductions worksheet to enter their information.
• Data can be entered directly
• Ability to attach documents
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My1040Data
2015 Update Seminar
Worksheets
The worksheets allow your clients to fill in their information and attach PDF files for supporting documents.
• Additional fill-in worksheets are available as PDFs
Review and Send
Client sends tax information to the firm in Review and Send.
My1040Data
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My1040Data
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Electronic Filing
Schema Validation Errors
We added a schema validation error report to identify errors with a suggested solution.
FBAR
Duplicate SSN or EIN
During the upload and transmission process, the program skips the check for a duplicate SSN or EIN. This
allows you to file multiple Forms 114 for the same taxpayer.
Additional Columns
We added two optional columns for FBAR:
• FBAR BSA ID
• FBAR with ID
Selection Option
We changed the Federal/State selection option from a list to checkboxes and included a new option for FBAR.
You can check all three boxes.
Electronic Filing
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Notifications
We added acceptance and rejection notifications for Form 114. The rejection notification only goes to the
preparer.
FBAR Status
We added a status point for FBAR indicating the return was timely filed but an amendment is required.
Notification Emails
The acceptance and rejection emails will include the Client ID.
Return Name
The Name column and the name listed in the Return History include Name Line 1 and Name Line 2 entries.
New e-file State and City Returns
State/City
Alabama
Alaska
California LLC
Connecticut Estimates
Georgia
Illinois
Illinois Estimates
Indiana
Iowa Estimates
Kansas
Kansas Estimates
Kentucky
Kentucky Estimates
Maine Estimates
Minnesota Estimates
Missouri
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1040
X
X
1065
1120
1120S
X
X
X
X
X
X
X
990
X
X
X
X
1041
X
X
X
X
Electronic Filing
State/City
Montana
Nebraska
Nebraska Estimates
New Hampshire
New Jersey Annual Report
New Mexico
New York
New York 210
New York City 1127
North Carolina
North Carolina Estimates
North Dakota Estimates
Pennsylvania
Pennsylvania Estimates
Philadelphia
Utah
Vermont
Wisconsin Estimates
1040
X
X
X
X
X
X
X
X
X
1065
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1120
1120S
X
X
X
X
X
X
X
X
X
X
1041
X
990
X
X
X
X
X
X
X
X
X
X
The availability of state and city returns and extensions depends on when the taxing authority begins
accepting electronic returns. Refer to the release information and e-fxNews for information on
state/city e-file availability. You can see an updated list at
https://support.cch.com/productsupport/productSupport.aspx?id=22.
Electronic Filing
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CCH eSign
Introduction
On June 30, 2000, Congress enacted the Electronic Signatures in Global and National Commerce Act. Although
the ESIGN Act of 2000 permitted electronic signatures on most documents, the IRS continued to require a
physical signature on Form 8879 until recently. On March 11, 2014, the IRS updated Publication 1345 to allow
electronic signatures on Forms 8878 and 8879 as long as the taxpayer’s identity is verified either in person or
using knowledge based authentication. CCH eSign provides the required knowledge based authentication
(KBA) to allow e-signature for Form 8879 for Individual returns.
Other examples where you can use e-signatures without KBA include:
• Engagement letters
• Representation letters
• Confirmations
• Internal human resources documents
How Does CCH eSign Work?
The flow for CCH eSign begins with the document author. After setting up the document in AssureSign, the
client receives an email alerting them to sign the document. If the signature requires verification, AssureSign
offers a knowledge based authentication procedure to verify the identity of the signer prior to signature. The
author receives a notification after client signs the document. In the case of Form 8879, CCH eSign is
integrated with ProSystem fx Electronic Filing Status to streamline providing the client Form 8879 for signature
and receiving a signed copy of the 8879 from the client.
CCH eSign Process:
1. You send an email (actually, AssureSign sends the email for you) to a client informing them a document
needs their signature.
2. The client clicks a link provided in the email and is prompted to sign the document. For Form 8879, the
client must first answer some security questions to authenticate their identity.
3. Emails are immediately sent to both you and your client verifying that the process is complete, with a
link to the document.
What Are the Benefits of CCH eSign?
•
•
•
Electronic filing integration — Form 8879 integrates into ProSystem fx Electronic Filing Status, allowing
you to enjoy the efficiency of a paperless filing process from start to finish. When an Individual return
is ready for signing, the program generates an email to the client notifying them that Form 8879 is
available for signing, tracks the form’s completion and sends automated reminders if needed. After the
client completes the signing process, you can transmit the return.
Simplified and improved firm/client relationship — Just as consumers anticipate availability of e-signing
in other official transactions, they expect their CPA to offer this convenience. Using e-signature
technology helps confirm your reputation as a client‑focused and technology‑savvy firm.
Brand enhancement — With CCH eSign, you can customize customer‑facing communications with your
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CCH eSign
•
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firm name and logo, strengthening the professionalism of your brand.
Mobile convenience — CCH eSign is available for iOS, Windows® and Android™ mobile devices, so you
and your clients can complete the e‑signing process anytime, anyplace, from any PC, laptop, tablet or
smartphone.
Setup
Request the CCH eSign license by calling 1-800-739-9998, option 1. The license is free. A transaction fee is
billed to your account as you use the program.
Configuration
The initial setup in Office Manager or the Settings and Defaults requires the name and email address of the
primary administrator for CCH eSign. This identifies the person who logs in to AssureSign® to continue the
setup and customization.
Per Return Selection
Instead of setting the option in Office Manager or the Return Configuration Sets, you can select or override the
eSign option on a per return basis. Select “Yes” at General > Electronic Filing > General > Electronically sign
8879 (Interview Form EF-1).
Review Question
Question: Electronic signatures for Form 8879 require a Knowledge Based Authentication to verify the identity
of the signer.
A. True
B. False
Answer:
CCH eSign
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Individual Returns – Form 1040
IRS Mileage Rates
These mileage rates apply for 2014 and 2015 returns.
Purpose
2014
.56
.235
.14
Business
Medical/Moving
Charitable
2015
.575
.23
.14
For automobiles a taxpayer uses for business purposes, use these rates to determine the portion of the
business standard mileage rate treated as depreciation in the computation of adjusted basis: (See Section 4 of
Rev. Proc. 2014-79)
Year
2011
2012
2013
2014
2015
Cents per mile
22
23
23
22
24
General
Basic Data
Taxpayer and Spouse Age
When you enter the date of birth, the age calculates and fills the field automatically.
Income/Deductions
Form W-2, Wages and Salaries
State and City Info
We added fields for Work days/hours in city, Dates worked in city from, and Dates worked in city to. This
information is used to calculate an allocation of wages to each city based on the days worked (Interview Form
IRS W-2).
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2015 Update Seminar
City Detail
We added data entry fields for Ohio and Michigan cities.
Interest and Dividends
Tax-Exempt Interest and Dividend Consistency
The tax-exempt interest options at Income/Deductions > Interest or Dividend > Tax Exempt Interest Code now
match (Interview Forms IRS-1099INT and IRS-1099DIV). If you select codes ”1” or “3,”the interest or dividends
flow to Schedule B.
The options are:
1 – 1099 for tax exempt interest
2 – Tax exempt interest from private activity bond issued after 8/7/86 and before 1/1/09
3 – Both 1 and 2 applicable
The tax-exempt interest option for Dividends rolls forward as code “1” if the code was blank last year.
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2015 Update Seminar
1098-MIS, Mortgage Interest Statement
We moved the entries for 1098-MIS, Mortgage Interest Statement from a separate worksheet to a section at
Income/Deductions > Itemized Deductions > Mortgage Interest (Schedule A).
IRAs, Pensions and Annuities
The program carries the maximum Roth IRA contribution allowed to Form 8880, line 1 if you choose to
Maximize Roth IRA contribution or Maximize Roth IRA to AGI limit, remainder to traditional IRA at
Income/Deductions > IRAs, Pensions and Annuities > IRA Information > Maximization code and you did not
enter a Roth IRA contribution amount. The program issues an informational diagnostic to alert you of this
treatment. (Interview M-22)
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2015 Update Seminar
Taxes
Form 8960, Net Investment Income Tax
Line 7 Worksheet
If there is a state refund on Form 1040, line 10 and state payments were included on the 2013 Form 8960, line
9b, the program produces a worksheet for Form 8960, line 7.
We added new fields at Taxes > Net
Investment Income Tax > General, Prior
Year Federal and State Information for
carryover amounts from the prior year
and state information (Interview Form T2).
Line 10 Statement
We added a statement for Form 8960, line 10 to itemize additional modifications.
State Form 8960
We added an option to exclude state taxable municipal bond interest from the State Form 8960 calculation.
The option is available at General > Return Options > Processing Options > Exclude federal tax-exempt interest
from state NII (Interview Form 2).
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2015 Update Seminar
We added lines 12 through 18 to the State Form 8960 for 2013 state payments made in 2014. The program
uses the 2013 net investment income ratio for these payments unless you select the option at General >
Return Options > Form Printing Options > Other Use current year ratio to apportion prior year state tax
payments to net investment income (Interview
Form 4). The entries at Taxes > Net Investment
Income Tax > General, Prior Year and State
Information are used in the calculation of these
lines (Interview Form T-22).
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2015 Update Seminar
Form 8965, Health Coverage Exemptions
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2015 Update Seminar
If a taxpayer is eligible for an exemption from having health insurance for 2014, they must complete Form
8965, Health Coverage Exemptions, to avoid owing a penalty (shared responsibility payment) for 2014.
The form contains two sections:
• Part I, Marketplace-Granted Coverage Exemptions for Individuals
An individual must apply for the exemption before they file their return. When they file Form 8965
they must enter the exemption certificate number that the Marketplace issues.
• Part II, Coverage Exemptions for Your Household Claimed on Your Return
Use this section for hardship exemptions the taxpayer would not know they are eligible for until the
end of 2014.
We added entries at Taxes > Health Coverage for Form 1095-B. Form 1095-B is used to report certain
information to the IRS and to taxpayers about individuals who are covered by minimum essential coverage and
are not liable for the individual shared responsibility payment.
We added entries at Taxes > Employer-Provided Health Insurance Offer and Coverage for Form 1095-C. If a
taxpayer is offered health coverage in an employer’s health plan, Form 1095-C provides information needed to
report if the taxpayer had qualifying health coverage for some or all months of the year.
Forms 1095-B and 1095-C are not required to be filed until 2016 for 2015. However, entities can voluntarily
file in 2015 for 2014.
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2015 Update Seminar
We added entries at Taxes > Health Coverage > Coverage and Additional Information to complete Form 8965
without Form 1095-B or Form 1095-C. The summary grid also includes entries for the additional four
worksheets for Form 8965.
• Shared Responsibility Payment Worksheet
• Flat Dollar Amount Worksheet
• Affordability Worksheet
• Marketplace Coverage Affordability Worksheet
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2015 Update Seminar
Credits
Form 8962, Premium Tax Credit
The Patient Protection and Affordable Care Act, effective for tax years after 2013, authorizes premium
assistance tax credits under Code Sec. 36B to help certain taxpayers pay for the cost of health insurance
premiums. Taxpayers who purchase qualified health plans through state exchanges are entitled to a
refundable income tax credit, the Premium Tax Credit (PTC). Form 8962 is filed to compute and take the PTC.
Taxpayers can claim the PTC if they meet all of the following requirements:
1. At some point in the year, one or more individuals in their tax family
a. Were enrolled in one or more qualified health plans offered through the Marketplace; and
b. For the same months, were not eligible for minimum essential health coverage (other than
coverage in the individual market)
2. The taxpayer is an “applicable taxpayer”, meeting all of the following tests:
a. The taxpayers household income is at least 100 percent but no more than 400 percent of the
Federal poverty line for their family size for 2014 (certain exceptions do apply)
b. No one can claim the taxpayer as a dependent on their return for 2014; and
c. If the taxpayer was married at the end of 2014, generally, they must file a joint return.
However, filing a separate return does not disqualify the taxpayer from being an “applicable
taxpayer” if certain requirements are met.
Advance payment of the premium tax credit (APTC) is a payment made for coverage during the year made to a
taxpayer’s insurance provider that pays for part or all of the health insurance premium coverage. The APTC is
based on the Marketplace’s estimate of the PTC. If an APTC was paid, Form 8962 is required to be filed to
compare this APTC with the PTC.
A Form 1095-A is required to be issued to any taxpayers who participated in an exchange. To complete Form
8962, go to Credits > 8962 Health Insurance Marketplace. Enter the detail from Form 1095-A as received by
the taxpayer on the input screen. This fills Form 8962 to calculate the credit or refund due. (Interview Form
1095-A)
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2015 Update Seminar
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2015 Update Seminar
Additional Information
If the taxpayer was a victim of domestic abuse or spousal abandonment, the taxpayer can take the PTC if they
file Married Filing Separate (MFS), if they meet certain circumstances. Check the box at Credits > 8962 Health
Insurance Marketplace > Additional Information > Victim of abuse or abandonment.
If dependents are required to file a tax return, you must include their modified AGI in the total modified AGI
for purposes of calculating the PTC. If dependents are only filing a tax return to claim a refund for tax withheld
or estimated tax, do not include their income in the calculation. Enter the combined modified AGI of
dependents at Credits > 8962 Health Insurance Marketplace > Additional Information > Dependent’s modified
AGI.
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2015 Update Seminar
If the taxpayer’s income calculates as below 100 percent of the Federal poverty line, and all of the following
requirements apply, they can still claim the PTC:
1. They enrolled in a qualified health plan through a Marketplace
2. The Marketplace estimated at the time of the enrollment that their household income would be
between 100 percent and 400 percent of the Federal poverty line for 2014
3. APTC is paid for coverage for one or more months during 2013; and
4. They otherwise qualify as an “applicable taxpayer”
Check the box at Credits > 8962 Health Insurance Marketplace > Additional Information > Qualified for PTC
even though household income is below 100% of poverty line if the taxpayer qualifies.
Additional calculations are required if the taxpayer has second policy, if it is the year of marriage or if the policy
is shared with another taxpayer. Additional entries are available under Credits > 8962 Health Insurance
Marketplace > Additional Information under these circumstances.
Foreign
Form 7004 and Form 3520-A, Annual Information Return of Foreign Trust with a U.S. Owner
Form 7004, Application for Extension of Time to File Certain Income Tax
Information, and Other Returns, will be available for use with Form
3520A. To produce this extension, make an entry on Foreign > Form
3520-A – Annual Information Return of Foreign Trust with a U.S. Owner
> Foreign Trust Income Statement (Interview Form S-13B)
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2015 Update Seminar
Form 114, Foreign Bank and Financial Accounts (FBAR)
Foreign Assets Worksheets
We redesigned the Foreign Assets worksheets to simplify data entry. Grids are available throughout this
worksheet for import and export purposes
Travel Abroad
We moved the Travel Abroad subsection from Foreign > 2555 – Foreign Earned Income Exclusion > General to a
new Foreign > Travel Abroad worksheet (Interview Form 32) to provide a single location to enter travel
information.
Tax Equalization
Additional Cash Flow Summaries
You can include four different cash flow summaries with a
return. Use the options on Tax Equalization > Reconciliation and
Cash Flow and Tax Equalization Engagement >Engagement Reconciliation and Cash Flow (Interview Forms TE-3 and TE-53).
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2015 Update Seminar
Cash Flow Option – Balance Due Paid by Company
The balance due prints in the company column on Cash Flow Summary
#7 when you make an entry at Tax Equalization > Reconciliation and
Cash Flow or Tax Equalization Engagement > Engagement Reconciliation and Cash Flow (Interview Forms TE-3 or TE-53).
Hypothetical Form 8863
We added a Hypothetical Form 8863 to show side-by-side results from the actual return and the hypothetical
return.
Hypothetical State Code
We added a Hypothetical state code (if different) field to foreign wages, interest, and dividend data entry
locations. You can enter a state code in these fields to calculate hypothetical state taxes.
• Foreign > Expatriate Wages > Wage (Interview Form EXP-1)
• Foreign > Expatriate Wages >Allowances and Reimbursements (Interview Form EXP-2)
• Foreign > Expatriate Wages >Other Allowances and Reimbursements (Interview Form EXP-3)
• Foreign > Expatriate Wages > Income Partially Earned in Prior Years (Interview Form EXP-3)
• Income/Deductions > Interest > Foreign (Interview Form IRS 1099-INT)
• Income/Deductions > Dividends > Foreign (Interview Form IRS 1099-DIV)
• Income/Deductions > Consolidated 1099 > Form 1099-DIV Dividend Income (Interview Form CN-1)
• Income/Deductions > Consolidated 1099 >Form 1099-INT Interest Income (Interview Form CN-2)
Print Option – Include Tax Equalization Form in Government Copy
The tax equalization forms print in the government copy of the return when you make an entry at Tax
Equalization > General > Print equalization forms with government copy or Tax Equalization Engagement >
Engagement – General > Print equalization forms with government copy (Interview Forms TE-1 or TE-51).
Worksheet View Cross-References
Cross-references are available for all tax equalization forms. The state cross-references tie to the state
government form and tax equalization entries.
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2015 Update Seminar
State Enhancements
All States
•
Credit for Taxes Paid
o Added local taxes to credit for taxes paid calculation
Alabama
•
Schedule AATC, Accountability Tax Credit
Arizona
•
•
•
Form 351, Renewable Energy Investment and Production for Self-Consumption by Manufacturers
Forms 140, 140NR, and 140PY have been reorganized to more closely resemble the federal return
Added page 3 to Form 140, 140NR, and 140PY – Dependent Information – Continuation Sheet from
Page 1 Dependents
Arkansas
•
•
Form AR-OI, Other Income/Depreciation Differences
Added data entry fields to override Part-Year and Nonresident state amounts
California
•
•
•
•
Form 3554, New Employment Credit
Form 3811, Donated Fresh Fruits and Vegetables Credit
Form 3840, Like-Kind Exchanges
Added e-file for Form 568, Limited Liability Company Return of Income
Colorado
•
•
•
•
•
Added Long Term Care Insurance Premium diagnostic
Form DR 0346, Hunger-Relief Food Contribution Certification
Form DR 0347, Child Care Expenses Tax Credit
Form DR 0348, Remediation of Contaminated Land Credit Transfer
Form DR 0349, Remediation of Contaminated Land Credit Use
Hawaii
•
If Federal option is selected to print Extension Granted to 10/15 on return, it also prints on the state
return
Kentucky
•
•
Form 41A720SL and Form 725 LLC Extension
New Food Donation Tax Credit added to 740, 740NP, and LLC credit Form Sch TCS
Michigan
•
•
Form 5049, Worksheet for Married Filing Separately, Divorced, or Separated Claimants
Form MI-1040H revised to include combined apportionment information
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2015 Update Seminar
Minnesota
•
Added a statement that shows how passthrough income calculates when there are suspended losses
Nebraska
•
Schedule I, Nebraska Adjustments to Income
o Added expand capability to review calculations
New Hampshire
•
•
•
•
•
Form DP-132, NOL for LLC returns
Worksheet DP-131-A, Worksheet for Apportionment of Net Operating Loss (NOL)
Worksheet DP-131-B, Worksheet for Carryback and Apportionment of Net Operating Loss (NOL) for
Taxable Periods Ending Before July 1, 2005 Only
Forms NH-1040 and BET – ability to group entities onto one return
Form DP-10, Interest and Dividends return now available for electronic filing
New Jersey
•
Schedule BUS-2 and BUS-2NR, Detail NOL Carryforward Worksheets
New Mexico
•
•
•
•
•
•
Form NM RPD-41227, Renewable Energy Production Tax Credit Claim Form
Form NM RPD-41228, Film Production Tax Credit Claim Form
Form NM RPD-41317, Solar Market Development Tax Credit Form
Form NM RPD-41326, Rural Health Care Practitioners Tax Credit Claim Form
Form NM RPD-41329, Sustainable Building Tax Credit Claim Form
Form NM RPD-41358, Cancer Clinical Trial Tax Credit Claim Form
New York
•
•
•
Form IT-223, Innovation Hot Spot Deduction
Form NYC-210, Claim for New York City School Tax Credit
Added e-file for Form NYC-1127, Return for Nonresident Employees of the City of New York
North Carolina
•
•
•
Added e-file extensions
Tax rate moving from tables to flat rate
Many credits will be repealed
Oregon-Multnomah
•
Form ARTS, Arts Income Tax Refund
Pennsylvania
•
•
•
Form PA-40 added PA Children’s Trust Fund & American Red Cross donations
Form PA-40 estimated Use Tax amounts and rates for taxable income over $200,000
Separated Schedule A/B into separate schedules A & B
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2015 Update Seminar
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Schedule A interest income now starts with Federal interest income and adjusted via a series of
additions and subtractions
Schedule A now required to be included if any amount is present on lines 2 through 15, $2,500 filing
limit no longer applies
Schedule B dividend income now starts with Federal dividend income and adjusted via a series of
additions and subtractions
Schedule B now required to be included if any amount is present on lines 2 through 9, $2,500 filing
limit no longer applies
Schedule C new lines for reporting current expensing of IDCs, amortization of IDCs and direct expensing
of start-up costs
Schedule D “various” allowed for date sold
Schedule D summary statements are now allowed – individual sales are no longer required to be
reported on this schedule
Separated Schedule J/T into separate schedules J & T
Schedule G-L foreign countries were removed from the instructions; credit for taxes paid is now only
available to states, Washington DC and US territories
Discontinued Schedule G-S and G-R
Form PA-1000 ‘Have you received Property Tax/Rent Rebate in the past’ Y/N box has been replaced
with ‘Filing on behalf of decedent’ Y/N box.
Form PA-1000, line 11g is now used to report miscellaneous income and annualized income amount
Form PA-1000 deceased claimants can have a claim filed on their behalf if they do not live the entire
claim year
Form PA-1000 a personal representative can file a claim on behalf of deceased claimant
PA-1000, Schedule A/B is now only PA-1000, Schedule A and uses number of days method to calculate
pro rata rebate instead of number of months
PA-1000, Schedule B is now part of PA-1000, Schedule B/D/E and uses number of days method to
calculate pro rata rebate instead of number of months
PA-1000, Schedule F is now a part of PA-1000, Schedule F/G
PA-1000, Schedule G is a new schedule used to calculate annualized income that is included on PA1000, line 11g
Added e-file extensions
Pennsylvania Cities
•
•
•
•
•
Office Manager includes Estimate, Balance Due, Refund and No Refund, No Balance Due mailing
addresses
Office Manager includes Nonresident and School District specific tax rates
PAC Codes to expand from four characters/digits to six according to Act 32 PSD code from
www.newpa.com
Will use the PSD codes rather than internally developed city codes
Philadelphia – Forms NPT, BIRT, and BIRT-EZ
o Added ability to create multiples of forms
o Spouse specific data entry removed
o Added electronic filing capability
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2015 Update Seminar
o Electronic filing of extension is not available
South Carolina
•
•
Removed option to receive information about accessing 1099G/INT electronically
Improvement of the out of state income/loss calculations
Virginia
•
Schedule VAC/CG, Contributions Schedule
Wisconsin
•
•
Schedule CF, Carryforward of Unused Credits
Schedule R, Wisconsin Research Credits
Review Question
Question: The Deduction Recoveries Worksheet calculates the amount for which line on Form 8960?
A.
B.
C.
D.
Line 5
Line 7
Line 9
None of the above
Answer:
Question: If a taxpayer is eligible for an exemption from having health insurance for 2014, they must complete
Form 8965, Health Coverage Exemptions, to avoid owing a penalty.
A. True
B. False
Answer:
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2015 Update Seminar
Fiduciary Returns – Form 1041
Facsimile Forms Added For Data Entry
•
Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit Sharing Plans, IRAs,
Insurance Contracts, etc. Data entry is at Income/Deductions > IRAs, Pensions and Annuities (Interview
Form IRS 1099-R).
Entries are still available in the Other Income worksheets using the Income Type (Interview Form M-1).
•
Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains. Data entry is at
Income/Deductions > Gains and Losses > IRS 2439 (Interview Form IRS-2439).
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2015 Update Seminar
Form 4562, Depreciation and Amortization
We added an option to lock the depreciation calculation, preventing further changes when recalculated for
federal and state depreciation. You can find this entry at General > Depreciation and Depletion Option and
Overrides (Interview Form DP-9).
Interest and Dividends Summary Statement
We added an option to print or suppress the Interest and Dividend Summary statement in Government view
under the miscellaneous folder. You can find this entry at General > Return Options > Form Printing Options >
Suppress section (Interview Form 5). This selection is available in Office Manager/Return Configuration Sets.
Electing Small Business Trust
•
Form 6781, Gains and Losses From Section 1256 Contracts and Straddles. We added options to include
gains and losses in the ESBT calculations at Income/Deductions > Contracts and Straddles (Interview
Form D-9).
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2015 Update Seminar
•
•
Schedule D, Capital Gains and Losses. We added AMT Schedule D worksheet for ESBT calculations in
Government view.
Added a data entry checkbox to indicate investment expense for Attorney, Accountant and Return
Preparer Fees at Other Returns > Electing Small Business Trust > ESBT Income, Deductions, Form 8582,
Taxes and Credits (Interview Form ESBT-1). Check this field if these fees are considered administrative
according to Form 8960 regulations. Fees considered administrative carry to additional modifications,
Form 8960, line 10.
Form 8858, Information Return of U.S. Persons With Respect to Foreign Disregarded Entities
We added Form 8858, Information Return of U.S. Persons With Respect To Foreign Disregarded Entities (FDE)
at Other > Form 8858 (Interview Form FDRE-1). Form 8858 is used by certain U.S. persons that own a FDE
directly or, in certain circumstances, indirectly or constructively.
This form will be available for importing and exporting under File/Foreign Entities Data on the menu
bar.
Form 114, Report of Foreign Bank and Financial Accounts
Added in the 2013 program and available for Electronic Filing, we also added the ability to produce multiple
forms in a return.
Form 8960, Net Investment Income Tax – Individuals, Estates, and Trusts
•
•
You can override the new Office Manager/RCS selection for excluding federal tax exempt income for
state calculations at General > Return Options > Miscellaneous Options > Exclude federal tax-exempt
interest from state net investment income
Added a Deductions Recovery Worksheet for line 7
o The worksheet is produced when these occur:
 A taxable refund appears on From 1041, line 8 and
 State payments were included on the prior year Form 8960, line 9b for the applicable
state
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2015 Update Seminar
•
State Form Version of Form 8960
o Added an option to exclude federal tax-exempt interest from the state net investment income
calculation. This is also available as an Office Manager/Return Configuration Set selection.
•
Prior year state tax payments apportions to net investment income using the prior year net investment
income ratio. We added an option to use the current year net investment income ratio at Taxes > Net
Investment Income (Interview Form T-11).
Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or
Qualified Electing Fund (PFIC)
You can make a Regulation Section 1.1411-10(g) election without filing Form 8621. You can find the entry at
Other > 8621 (Interview Form M-4).
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2015 Update Seminar
State Changes
Arkansas
•
Added Schedule K-1, Arkansas Shareholder, Partner, or Beneficiary’s Share of Income, Deductions,
Credits, etc.
Arizona
•
Added new worksheet for Net Long-Term Capital Gain Subtraction for Assets Acquired after December
31, 2011
California
•
Added Form 3811, Donated Fresh Fruit and Vegetable Credit
Mississippi
•
•
Added Form 80-160, Tax Credit for Income Tax Paid to One or More Other States
Added Form 80-107, Income/Withholding Tax Schedule
New York
•
Added Form IT-225, New York State Modifications
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2015 Update Seminar
Pennsylvania
•
•
Added Form PA 41 Schedule N, PA-Source Income and Nonresident Tax Withheld
Added electronic filing
Wisconsin
•
Added Schedule CF, Carryforward of Unused Credits
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2015 Update Seminar
Common Business (Forms 1120, 1120S and 1065)
Form 8903, Domestic Production Activity Deduction
Added a field to override apportioned expense at Income/Deductions > Qualified Production Activity Income >
Apportioned expense override as a way to adjust apportioned expense for an activity on the QPAI worksheet
(Interview Form DPAD-1).
Schedule M-3
Effective for tax years ending December 31, 2014 and later, corporations and partnerships with at least $10
million in total assets but less than $50 million at tax year-end can file Schedule M-1. This change applies to
corporations filing Forms 1120, 1120-C, 1120-F, 1120S and partnerships filing Forms 1065 and 1065B.
Schedule M-3, Part I, lines 1 through 12 continue to be required for corporations and partnerships with
total assets of $10 million or more but less than $50 million at tax year end. This requirement also
applies to partnerships with total receipts of $35 million or more or has a reportable entity partner.
Schedule M-3, Part I, line 11 must equal Schedule M-1, line 1.
Corporations filing Forms 1120, 1120-C, 1120-F, 1120S and partnerships filing Forms 1065 and 1065B with $10
million to $50 million in total assets that file Schedule M-1 are not required to file Schedule B (Form 1120),
Schedule C (Form 1065) Additional Information for Schedule M-3 Filers or Form 8916-A, Supplemental
Attachment to Schedule M-3 .
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2015 Update Seminar
The IRS is considering changes to Schedule M-3 and to the requirements for the book-to-tax
reconciliation for corporations with $10 million to $50 million in total assets filing Form 1120-L, 1120PC, or filing as a mixed group including the requirement that mixed groups sub-consolidate and file Form
8916.
Corporations and partnerships with less than $50 million in total assets at year-end can voluntarily file
Schedule M-3, Parts II and III and/or Schedule B (Form 1120), Schedule C (Form 1065) Additional Information
for Schedule M-3 Filers or Form 8916-A, Supplemental Attachment to Schedule M-3. Taxpayers that complete
Schedule M-3, Parts II and III must complete all columns, without exception.
Producing Schedule M-1
The program defaults to produce Schedule M-3 when total assets are greater than $10 million. To request to
file Schedule M-1 when total assets at year-end are at least $10 million but less than $50 million go to Sch L/M
> Schedule M-3 > General and Net Income (loss) Reconciliation > Suppress Schedule M-3, Parts II & III and
produce Schedule M-1 (Interview Form L-5).
To change your organization’s default to file Schedule M-1 when total assets at year-end are at least
$10 million but less than $50 million go to Office Manager/Configure Applications/Tax
Preparation/Miscellaneous Options and enter an “X” in the Reserved for future use 3 field.
Suppressing Form 8916-A
Form 8916-A, Supplemental Attachment to Schedule M-3 is not
required when filing Schedule M-3 voluntarily. However, the
program defaults to print Form 8916-A when Schedule M-3 is
filed voluntarily. To suppress, check the box at Sch L/M > Schedule M-3 > General and Net Income (loss)
Reconciliation > Suppress Form 8916-A (Interview Form L-5).
Print Schedule B (Form 1120) and Schedule C (Form 1065)
The program defaults to not print Schedule B (Form 1120) and
Schedule C (Form 1065) when Schedule M-3 is filed voluntarily
and/or Total Assets are less than $50 million. To print
regardless of applicability go to Sch L/M > Schedule M-3 > General and Net Income (loss) Reconciliation > Print
Schedule B (C) regardless of applicability (Interview Form L-10).
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2015 Update Seminar
Posting Schedule M-3 Items to Schedule M-1
In prior years, the C Corporation and S Corporation programs did not automatically carry amounts from
Schedule M-3 to Schedule M-1. Beginning in 2014, the program default for Forms 1120, 1120S and 1065
changes to transfer Schedule M-3 items to Schedule M-1 automatically if no amounts are in the return for
Schedule M-1 open line items.
If descriptions but no amounts are in the return for Schedule M-1, the program still automatically transfers
Schedule M-3 items to Schedule M-1. This example shows a description only without amount(s) entered.
For consolidated returns, we automatically transfer Schedule M-3 items to Schedule M-1 with the
exception of mixed groups. The Schedule M-3 to M-1 transfer option does not occur for a mixed group
even if you select the option.
Posting Net Book Income from Schedule M-3 to Schedule M-1
•
•
If Schedule M-3 is present, net book Income flows from Schedule M-3, Part I, line 11 to Schedule M-1
line 1.
If only Schedule M-3, Part I is present, net book income flows from Schedule M-3, Part I, line 11 to
Schedule M-1, line 1.
Schedule M-1 book income never flows to Schedule M-3, Part I.
Stopping Schedule M-3 Net Book Income from Flowing to Schedule M-1
•
You must override Schedule M-1 net book income.
o To ensure that Net Book Income for Schedule M-1 and M-3 agree, we recommend you enter the
override at Sch L/M > Schedule M-3 > General and Net Income (loss) Reconciliation > Net
income (loss) per income statement of includible corporations – override (Interview Form L-5).
o If you enter an override for Schedule M-1 Net Book Income at Sch L/M > Schedule M-1 > Net
income (loss) per books – override the Schedule M-1 may not foot. We recommend not using
this override (Interview Form L-3).
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2015 Update Seminar
o To override consolidated Net Book Income enter to Consolidated > Federal Overrides > Schedule
M-1 > Net income per books (Interview Form CC-7).
Option to Automatically Compute Schedule M-3 Part I, Line 11, Worldwide Consolidated Income
A new option is available to use the Book Income calculated on Schedule M-3, Part II, Column A on Part I, line
11. Check the box at Sch L/M > Schedule M-3 > General and Net Income (loss) Reconciliation > Automatically
compute worldwide consolidated net income (loss) (Interview Form L-5). The program only uses this option if
there is an entry for Income statement source type and there is not an override entry for Worldwide
consolidated net income(loss) from income statement source.
When you use this option, Schedule M-3, Part I, line 11 always equals Part II, Column A, Book Income. If
any amounts are present for net income(loss) reconciliation for Part I, the program computes Schedule
M-3, Part I, Line 4a.
Net Income and Net Loss from Includible and Nonincludable Entities - New Summary Grid
Sch L/M > Schedule M-3 > General and Net Income (loss) Reconciliation > Net income/Net Loss from
Includible/Nonincludible/Other Entities/Adjustments – Detail changed to a summary grid to allow creating a
spreadsheet and importing of detail.
Schedule M-3 Columns (a) and (d) Left Blank - Diagnostic
For tax years ending December 31, 2014 and later, when filing Schedule M-3, Parts II and III, all columns are
required without exception. If you entered “Yes” entered at Sch L/M > Schedule M-3 > General and Net
Income (loss) Reconciliation > Leave columns (a) and (d) of Schedule M-3 Parts II and III blank the program
issues a Caution diagnostic indicating the new requirement.
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2015 Update Seminar
Other Deductions and Other Portfolio Deductions, Form 8916-A Interest Expense
For S Corporations and Partnerships, you can direct other deductions and other portfolio deductions to carry
to Form 8916-A as interest expense. Go to Income/Deductions > Schedule K – Other income and Deductions
and check the Interest expense box and select the Interest expense code for Form 8916-A (Interview Form K-3).
New Expand to Reconcile Consolidated Schedule M-1 from Schedule M-3 Transfer
To reconcile the automatic transfer of amounts from Schedule M-3 to Schedule M-1, go to Government forms
and open the Consolidated folder. Open the Schedule M-1 workpaper and place your cursor on an amount in
the consolidated amount column, but not Net Income per Books. Click the Expand
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2015 Update Seminar
The option to transfer Schedule M-3 to Schedule M-1 suppresses the consolidated automatic
adjustments to Schedule M-1. The program continues to produce automatic adjustments to M-1 for a
mixed group, for items such as contribution limitation and book to tax depreciation.
Schedule D, Capital Gains and Losses and Form 8949, Sales and Other Dispositions of Capital Assets
AMT versions for forms Schedule D and Form 8949 are now available.
Deferral of Income Recognition from Discharge of Indebtedness
Under IRC Section 108(i), the remaining Deferred Cancellation of Debt (COD) or Original Issue Discount (OID)
balances recapture starting in 2014 tax year ratably over five-year period. The recaptured amounts (one fifth)
of the remaining COD or OID balances are included as income or expenses.
Additional accelerated amounts can also be included in this year’s income or deductions by entering amounts
at Other > Deferral of COD Income > Applicable Debt Instrument Information (Detail) (Interview Form CD-1).
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2015 Update Seminar
For example, MSH Manufacturing Corporation (Form 1120) has a Deferred Cancellation of Debt (COD) of
$580,000 and OID Expense of $5,900. An accelerated amount of $100,000 COD Income and $590 OID Expense
is reported.
The amount reported as Other Income on Form 1120, line 10 is ($580,000 / 5) $116,000 plus the $100,000
accelerated amount for a total of $216,000. Go to Form 1120, line 10, Other Income and click the Expand
button to review Income from discharge of indebtedness. Schedules M-1 and M-3 automatically report the
amount as a book to tax difference.
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2015 Update Seminar
The OID Expense amount is ($5,900 /5) $1,180 plus the $590 accelerated amount for a total of $1,770.
This program includes this amount in Interest Expense on the page 1 of the return. Schedule M-1 and
Form 8916-A automatically report the amount as a book to tax difference.
Partnership and S Corporation – Deferral of Income Recognition from Discharge of Indebtedness
Recaptured and/or accelerated amounts are reported on Schedules K and K-1 as other income and other
deductions. A Section 108(i) Election Information Statement will be in the folder Sch K-1 Attachments or Sch K1 Other in Government forms.
Form 8621, Information Return by a Shareholder of a PFIC or QEF
Form 8621, Part V, line 16a requires a statement for each distribution of Section 1291 funds and an allocation
of excess distributions computed under Part V to each day and each year in the holding period. This requires
the computation of additional tax on line 16e and the computation of aggregate interest on line 16f.
•
•
C Corporation, Form 1120, returns provide a detailed calculation for each distribution and computes
additional tax and aggregate interest.
Partnership and S Corporation returns do not compute additional tax and interest. However, a tabular
distribution schedule generates to help filing Form 8621 in a Form 1040 return to compute additional
tax and interest.
To automatically calculate additional tax and interest on excess distributions enter information at Foreign >
8621 – Shareholder of a Foreign Passive Investment Co or Qualified Electing Fund > Distributions /Dispositions
from Section 1291 Fund and Section 1291 Distribution Detail (Interview Form FOR-4C).
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2015 Update Seminar
You can link multiple distributions together using the same distribution number.
To review the increase in tax and interest calculations, go to the 8621 Excess Distributions schedule in the
Government forms.
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2015 Update Seminar
Form 8586, Low Income Housing Credit
Go to Form 8586, lines 3 or 10 and click the Expand
Summary.
button to view the Low-Income Housing Credit
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2015 Update Seminar
Go to Form 8586, lines 4 or 11 and click the Expand
button to view the Credit from Pass-through Entity.
Form 8609-A, Annual Statement for Low-Income Housing Credit
Check the box at Credits > 8586 and 8609 – Low
Income Housing Credit > Pro Forma “Low
income portion to roll forward the low income
portion - override (Interview Form P-6).
Computing 15-year compliance period is now based on entries at Credits > 8586 and 8609 – Low Income
Housing Credit (Interview Form P-6).
1. If an entry is present in Date ready for
occupation for rehab properties if different
the program subtracts 15 years from date
entered.
2. If you check the box to Elect to
begin credit period the year after
placed in service, the program adds
one year to Date building placed in
service.
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2015 Update Seminar
3. If the only entry is Date building placed
in service, the program computes the
15-year compliance period on that
date.
Form 8609, Low-Income Housing Credit Allocation and Certification
New fields are available at Credits > 8586 and 8609 – Low Income Housing Credit to complete lines B, D, 1a and
lines 3 through 5 (Interview Form P-6).
Allocation and Apportionment Worksheets
For Corporations (both Forms 1120 and 1120S) the Detail Worksheets that print with Government forms now
indicate states that do not use a particular factor. The amounts entered do not print and an asterisk ‘*’
appears to the left of the amount column for each factor that a state does not use. Continue to enter amounts
for each factor for states not using a factor in order to get the total correct.
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2015 Update Seminar
Review Question
Question: Effective for Tax years ending December 31, 2014 and later, Corporations and Partnerships with at
least $______ in total assets at year-end are required to file all parts of Schedule M-3?
A.
B.
C.
D.
$50 million
$35 million
$20 million
$10 million
Answer:
Question: If you enter the income statement source type, you must compute and enter the total worldwide
consolidated net income.
A. True
B. False
Answer:
Question: When entering allocation and apportionment information, be sure to enter amounts for each state
even if the state does not use that factor.
A. True
B. False
Answer:
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2015 Update Seminar
Partnership Returns – Form 1065
Amended Return Flexibility
We expanded the Amended Return selection from a checkbox to options. You can choose to amend the return
and Schedule K-1 or just the return. You can find the options at General > Basic Data > General > Amended
return and Schedule K-1 (Interview Form 1).
You can find additional partner options at Partner Information > Partner Summary (Detail) > Basic Partner Data
> Amended Schedule K-1 (Interview Form K-1).
State Changes
California
•
•
•
Form 3811, Donated Fresh Fruits or Vegetables Credit
Form 3840, California Like Kind Exchanges
Form 3554, New Employment Credit
South Carolina
•
Form SC1040ES, Individual Declaration of Estimated Tax for composite returns
Michigan Cities
•
These Michigan Cities now use Form CF-1120 for filing their city returns:
• Battle Creek
• Flint
• Grand Rapids
• Highland Park
• Lansing
• Muskegon
• Muskegon Heights
• Pontiac
• Port Huron
• Saginaw
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2015 Update Seminar
Ohio Cities
•
•
Added a generic Schedule K-1 for Ohio City returns
Added a generic extension payment voucher for Ohio City returns
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2015 Update Seminar
Corporation Returns – Form 1120
Schedule UTP, Uncertain Tax Position Statement
Schedule UTP may be required when total-ending assets at year end equals or exceeds $10 million. Schedule
UTP phased in for large corporations during a five-year period.
Tax years:
2014 and after
2012 and 2013
2010 and 2011
Assets equal to or exceeding:
$10 million
$50 million
$100 million
The program issues an informational diagnostic when Schedule UTP is not present in the return and total
ending assets equal or exceed $10 million.
Enter the details for Form UTP at Other > Schedule UTP - Uncertain Tax Position Statement (Interview Form
UTP-1).
Enter in the UTP No. for each tax position reported. Begin with number 1 and do not skip any whole numbers.
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2015 Update Seminar
Letter "C" prints before the number for each tax position reported on Part I and letter "P" prints before
the number for each tax position reported on Part II. Do not enter a "C" or "P" followed by the number
in this field.
Enter the Primary IRC Sections (up to three) associated with the tax position. Enter one primary IRC Section in
each field (e.g., "61,” "108", "263A,” etc.). Do not include descriptive references or any other text such as
"IRC,” "Section,” or "IRC Sec.”
Enter a letter in the Transfer Pricing / Other column and a number in the Ranking Number column for each tax
position. Select "T" for transfer pricing positions and select "G" or leave blank for all other tax positions. Rank
all tax positions in Parts I and II together, regardless of type. Assign the largest number 1 the next largest
assign the number 2 and so on in order. This number is the ranking number for the tax position
Enter Concise Descriptions of Uncertain Tax Position in the grid provided. Be sure to enter the UTP number for
each line in the first column of the grid. This information transfers to Schedule UTP, Part 3.
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2015 Update Seminar
The Tax Position ranking numbers on Schedule UTP must start with number 1 and be consecutive
according to IRS instructions. Do not skip Ranking Numbers. For consolidated returns, the program
does not renumber the ranking numbers because the program does not know the ranking on a
consolidated basis. Please ensure that your ranking numbers are unique among members and follow a
consecutive order.
As a best practice, enter all UTP information with the consolidation. Create Excel spreadsheets with the
Export from the Summary grids. Accumulate all Uncertain Tax Position information then Import when
ready to complete Schedule UTP.
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2015 Update Seminar
Form 1120-C, Schedule G
We added Overall percentage entries for ease of allocating Gross Income, COGS and Deductions to Schedule G,
Form 1120-C. Go to Other Returns > 1120-C Cooperative Associations > Section 1382, Allocations, and
Overrides > Patronage Percentage Allocation and enter applicable percentages (Interview Form COOP-2).
Example 1: The Co-op has Capital Gain of $20,000 and Other Income of $110,000 for a total of $130,000 Other
Income.
The Patronage percentage of Gross Income is 10 percent multiplied by $130,000 to equal $13,000.
Click the This Form’s Statement
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button to review the supporting statements for Schedule G.
2015 Update Seminar
In addition, detail percentages are available for allocation of Gains, Depreciation, Amortization and Commercial
Revitalization are available to Schedule G, Form 1120-C.
Example 2: The Capital Gain patronage allocation is
12.34 percent multiplied by capital gain of $20,000
equals $2,468.
Other Income of $110,000 multiplied by the Gross income – overall patronage percentage of 10 percent equals
$11,000 and capital gain patronage amount of $2,468 equals $13,468 Other Income Patronage.
Patronage amounts entered with total amounts throughout the program override the Patronage Percentage
Allocations.
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2015 Update Seminar
Example 3: The patronage percent of Gross Rents of $100,000 is 10 percent. The patronage amount of
Miscellaneous (income) of $10,000 is $2,000. Enter the amount at Income/Deductions > Business > Other
Income > Patronage Other to override the patronage percent of 10% (Interview Form A-1).
Amounts entered at Other Returns > 1120-C Cooperative Associations > Patronage Amounts override
patronage amounts entered with total amounts throughout the program (Interview Form COOP-1).
Example 4: The patronage amount for Other income is
$20,000.
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2015 Update Seminar
Insurance Returns
Company Method Caution Diagnostic Enhanced
In prior years, the caution note that payout patterns were missing under the Company Method did not specify
the year(s) missing. Now the caution diagnostic is year-specific.
Capital Gains Informational Diagnostic Added
This diagnostic indicates the automatic tax adjustment made at Insurance > Trial Balance and Other
Information > Trial Balance
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2015 Update Seminar
State Changes
California
•
•
•
•
•
•
•
•
•
Form 3554, New Employment Credit (replacing form 3527, New Jobs Credit)
Form 3840, Like Kind Exchanges added
Form 3811, Donated Fruit and Vegetable Credit
Sec 179 and Sec 280F recapture processing has been enhanced
Sec 382 NOL and AMT NOL processing expanded, the program now automatically limits Sec 382 NOL
carryover limitations to tax liability
Implement additional PL 86-272 required by the FTB
Print “Tax Limited by PL 86-272” on Form 100/100W, page 2
Form 3805Z, Enterprise Zone, updated to new law changes
Upgrade Form 3520, Power of Attorney, to handle multiple entities
Michigan
•
These Michigan Cities now use Form CF-1120 for filing of their city returns:
• Battle Creek
• Flint
• Grand Rapids
• Highland Park
• Lansing
• Muskegon
• Muskegon Heights
• Pontiac
• Port Huron
• Saginaw
o Detroit will continue to use Form D-1120
Ohio Cities
•
New e-file States
Added these state returns based on initial state announcements. Review the e-fxNews bulletins for any
additions or deletions from this list due to state activity throughout the year.
• Alaska
• Kentucky
• New Mexico
• Philadelphia City
• Vermont
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2015 Update Seminar
Review Question
Question: Effective for tax years 2014 and after Schedule UTP (Uncertain Tax Positions) may be required when
total-ending assets at year-end is equal to or greater than?
A.
B.
C.
D.
$100 million
$50 million
$10 million
None of the above
Answer:
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2015 Update Seminar
S Corporation Returns – Form 1120S
Schedule B-1, Information on Certain Shareholders of an S Corporation
To report a different name, SSN or EIN in Column D than what is reported in column (a) and (b) on Schedule B1, go to Basic Data > Miscellaneous and Schedule B-1 Information > Reporting Entity Information {Column (d)}
(Interview Form 4A). You can also remove a specific shareholder from Schedule B-1 by checking the box
Remove from Sch. B-1. The remove checkbox allows you to complete Schedule B-1 on the Government form.
Schedule B-1 is not included in the electronic filing of the return.
State Changes
Ohio Cities
•
•
Added a generic Schedule K-1 for Ohio City returns
South Carolina
•
Form SC1040ES, Individual Declaration of Estimated Tax for composite returns
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2015 Update Seminar
New e-file States
Added these state returns based on initial state announcements. Review e-fxNews for any additions or
deletions from this list due to state activity throughout the year.
• Alaska
• Indiana
• New Mexico
• Philadelphia City
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2015 Update Seminar
Consolidations
Consolidated Elimination Method
As an alternative to the current methods of producing eliminations in the consolidated tax return, you can
create a separate tax return that contains all of the consolidating member’s eliminations. This new method
allows you to adjust combined amounts before the programs automatic consolidated adjustments calculate. A
second advantage of this method allows for ease of adjustment of state allocation and apportionment
amounts.
The elimination company should mainly consist of negative amounts. The member companies need to
have positive amounts that exceed the elimination companies’ negative amounts.
Important Considerations
The elimination company is not considered a tax entity
The income tax calculation is suppressed for the elimination company
Enter the Parents EIN on the Basic Data worksheet for the elimination company
Do not enter tax payments, credits, and carryover information with the elimination company
The elimination company does not appear on the consolidated Form 851 and never has a separate company
Schedule M-3 produced for it at the consolidated level
Carryover items for NOL, charitable contributions and capital losses do not roll forward for an elimination
company
The program ignores entries on the Contribution Carryover, NOL Carryover/Carryback, Section 1231 Loss
Carryover, Capital Loss Carryover/Carryback, Passive Loss Carryover, Credit Carryover/Carryback and all other
carryover worksheets in the calculation of the Consolidation
Do not use the State and City Tax Accrual Option at General > Return Options > Calculation Options with the
elimination company (Interview Form 2)
The elimination company cannot be the Consolidation
The elimination company method is not supported for a consolidated return containing Form 8810, Corporate
Passive Activity Loss and Credit Limitations
Elimination company method is not supported for 1120-L, 1120PC, 1120-C, Mixed Groups and 1120-REIT
Steps to Create a Consolidated Elimination Company:
1. Create a new corporate (1120) tax return
2. Enter the Parent’s employer identification
number at General > Basic Data > General for
the elimination company (Interview Form 1)
3. Enter the elimination return code at General >
Basic Data > General > Code for consolidated
return (Interview Form 1)
• Use ‘Elimination Division’ for a consolidated
return used in a DIV/DRE consolidation
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2015 Update Seminar
4. Go to the Return Group and open the Consolidation and enter the elimination company client ID at
Consolidated > Options > Elimination company’s Client ID (Interview Form CC-1)
The elimination company is the last company on the
Return Group tab and the IRS requires that it qualify for
electronic filing.
5. Complete the eliminations in the elimination company then open the Consolidated Return and go to
Government forms to review the reports in the 1120 Consolidated folder
The elimination company amounts do not show as a member company and its amounts are not in the
combined amount column. Entries from the elimination company show in the elimination column and
are included in the consolidated totals column.
Consolidations
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2015 Update Seminar
Your eliminations and adjustments never appear in the Adjustments column. The “Adjustment” column
of the consolidated workpaper is for automatic program adjustments, such as recalculation of charitable
contributions, utilization of capital loss carryover, reapplication of mid-quarter convention on a
consolidated basis and other tax adjustments made by the program.
The program shows the elimination company in the consolidated open line supporting statements for items
such as other income and other deductions. The corporate name you enter for the elimination company on its
Basic Data worksheet appears in these statements. We suggest you use the word ‘elimination’ in the name of
the company. Click the This Form’s Statements
consolidation.
button to review the supporting statements for the
Use Detail Entries Instead of Input Overrides
Make your eliminating entries for the elimination company with detail entries whenever possible to enable
supporting forms and schedules to tie to Form 1120 and to keep taxable income according to Schedule M-3
and Form 1120 in agreement. The following items are a summary of the main income and deduction items on
page 1 of the return that use detail entries.
Sale of Assets
Enter eliminations for sales of assets at Income/Deductions > Gains and Losses instead of using the input
override fields of the Business Worksheet (Interview Form D-1).
This results in the Schedule D and Form 4797 to tie to Form 1120, lines 8 and 9 and for complete Schedule M-3
presentation at both the elimination company and the consolidated return.
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Depreciation
Enter eliminations for depreciation at Income/Deductions > Business > Other Depreciation and Amortization
instead of using the depreciation input override field of the deductions section (Interview Form DP-1).
To adjust prior year assets, enter 999999 in the Date in Service field for the elimination to appear on Form
4562, line 17 for prior year assets. To eliminate current year assets, enter a current year for Date in Service.
Enter a Code to force when making eliminating depreciation detailed entries.
Do not enter negative amounts for Section 179 and bonus depreciation in the elimination company
return.
Consolidations
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2015 Update Seminar
Dividends
Eliminations for Dividends entered at Income/Deductions > Dividends result in Schedule C tying to the
dividends line on Form 1120, page 1, for both the elimination company and the consolidated return (Interview
Form B-2). Detailed entries also assist in keeping Schedule M-3 and page 1, taxable income amounts
reconciled.
The elimination company Schedule C special deductions column will always be blank.
The consolidated return bases the consolidated special deduction on your detailed dividend eliminations and
any automatic program adjustments. The program shows any computed difference between the combined
and consolidated special deduction as an Adjustment not an Elimination.
The Consolidated workpapers Eliminations and Adjustments columns allow for a Government override if
you want to reclassify a Special Deduction Adjustment to an Elimination. This override does not affect
the consolidated deduction or the combined amount, but do assure that the amounts cross foot.
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Domestic Production Activity Deduction
Eliminate amounts from the consolidated Qualified Production Activities Income (QPAI Schedule) by making
entries at Income/Deductions > Business > Qualified Production Activity Income (Interview Form DPAD -1). Do
not make entries in the Overrides section for the elimination company (Interview Form DPAD-2).
You can only enter amounts for the four entries shown in the illustration below.
Entries for Percent are not allowed.
These entries eliminate QPAI at the consolidated level and do not appear as an elimination to DPAD on Form
1120, page 1, line 25.
Consolidations
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2015 Update Seminar
To make an elimination to DPAD on the Form 1120, Page 1, line 25 of the consolidated return, you need
to enter it in the elimination company at Income/Deductions > Domestic Production Activities
Deductions Other Information > Overrides (Interview Form DPAD-2). Alternatively, use a government
view override on the Consolidated Income and Deductions worksheet to reclassify.
Here is an example of the QPAI schedule in the consolidated return with the default option of Accumulate but
do not recompute separate company QPAI.
Charitable Contributions
Enter eliminations for Charitable Contributions at Income/Deductions > Charitable Contributions >
Contribution Detail Not Carried to Form 8283 (Interview Form A-4). The program does not limit entries to 10
percent of taxable income for an elimination company. Your entry in this section flows to Schedule M-3. This
entry results in the elimination company and the consolidated return’s Form 1120 page 1 and Schedule M-3
remaining in balance.
Entries for Contribution Carryovers are not allowed for an elimination company.
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2015 Update Seminar
Click the This Form’s Statement
button when you are reviewing the Income and Deductions workpaper to
review the Charitable Contribution Adjustment Statement for the consolidation.
You can enter an elimination at Income/Deductions > Business > Deductions > Charitable contribution –
override (Interview Form A-3). However, you also need to make an entry for Schedule M-3 at Sch L/M >
Schedule M-3 > Expense/Deduction Items > Charitable Contribution to reconcile M-3 to Form 1120 for
both the elimination company and the consolidated return (Interview Form L-7).
Depletion
Eliminate income and expense by making entries at Income/Deduction > Depletion (Interview Form E-2).
Make entries to income and expense items only. Entries for items such as Production type, Production code,
and Production units do not effect on the consolidated return.
Other than Description of
depletion statement, Entity
number and Form code do
not make any entries at
Income/Deduction >
Depletion > Depletion.
Consolidations
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2015 Update Seminar
Other than Property number and
Property description do not make
any entries at Income/Deduction
> Depletion > Property and Cost
Depletion.
You cannot tie an elimination depletion property to a particular depletion property at the consolidated
level. For this reason, we recommend using only one depletion property with the elimination company
return.
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2015 Update Seminar
Do not enter both input overrides and detailed entries for any elimination in the elimination company.
To ensure consolidated schedules agree, override entries on the elimination company are ignored at
the consolidated level.
Schedule M-3
Force Schedule M-3 for the elimination company at
Sch L/M > Schedule M-3 > General and Net Income
(Loss) reconciliation > Schedule M-3 Print Option if
Schedule M-3 is being filed for the consolidated
return (Interview Form L-5).
If your consolidated return files Schedule M-3 and you also want to complete Schedule M-1, do not use the
option at Schedule M-3 > General and Net Income(Loss) Reconciliation worksheet > Carry book/tax differences
to Schedule M-1 with the elimination company (Interview Form L-5). However, you can select this option at
the consolidated level.
Do not make entries in the Temporary Difference – Override columns at Sch L/M > Schedule M-3 > Income
(Loss) Items and Expense /Deduction Items in the elimination company and are ignored at the consolidated
level (Interview Forms L-6, L-7 and L-9).
Do not use Override entries at Sch L/M > Schedule M-3 > Income(Loss) Items and Expense /Deduction
Items for Interest Income and for Interest Expense at the elimination company level (Interview Forms L6 and L-7). Instead, use detailed entries.
Consolidations
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2015 Update Seminar
Schedule M-2
At the consolidated level, the computed consolidated Schedule M-2 ending balance flows to the consolidated
ending Schedule L. Enter eliminations to ending unappropriated retained earnings to the elimination
company’s Schedule M-2 and not directly to the elimination company’s Schedule L.
The program ignores an entry in the elimination company at Sch L/M > Balance Sheet > Shareholders’
Equity > Retained earnings – unappropriated – end of year override at the consolidated level (Interview
Form L-2).
Eliminations for Tiered Consolidations
For example, lower tier sub consolidation has Total Other Income of $100,000 and an elimination of $10,000
for a net of Total Other Income of $90,000. The Top tier Consolidation has an Other Income elimination of
$25,000.
• When you select the show-all method at Consolidated > Options > Show sub-consolidated
members as one company, the lower tier’s elimination appear with the top tier elimination in the
Elimination Column of the Income and Deductions report in the Consolidated Folder of Government
forms (Interview Form CC-1). The total elimination will be $35,000 ($10,000 lower tier plus $25,000
top tier).
• When you select the subtotal method at Consolidated > Options > Show sub-consolidated members
as one company the lower tier’s elimination will not appear with the top tier elimination in the
Elimination Column of the Income and Deductions report in the Consolidated Folder of Government
forms (Interview Form CC-1). The top tier elimination column will only show the top tier
elimination of $25,000. The lower tier sub consolidation shows $90,000 for Other Income (Net of
$100,000 Other Income minus its elimination of $10,000).
Consolidated Schedule M-3 – Statement Enhanced for Other Income and Other Deductions
By default, the program shows income and deduction items with the same description on separate statements
with No Differences and With Differences. There is a new option for Corporation, S Corporation and
Partnership Consolidations to Net amounts from the No Differences and With Differences statement together
on the With Differences statement. To choose this new option go to Consolidated > Options > Consolidated
Schedule M-3 statement option and select Print Statements – Combine like description (Interview Form CC-1).
For example, the consolidation includes companies, MSH and KRH with Gross Receipts or Sales.
• MSH has Gross Receipts or Sales of $63,865,000 and no book to tax difference
• KRH has Gross Receipts or Sales of $68,980,000 for book and $67,980,000 for Tax
• The net of two is $132,845,000 for book and $131,845,000 for tax
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2015 Update Seminar
Option – Do NOT combine like descriptions
Option – Combine like descriptions
The net effect is that the No Differences line decreases and the With Differences line increases by the
same amount while there is no effect to the Reconciliation Totals line on Part II.
Tiered Consolidated Returns – New Default – Show-All Method
The program default for Corporate (Form 1120) Tiered Consolidations changed for printing Consolidated
Supporting Schedules and Form 851 to “Show All Lower Tier Sub-Companies Separately on Form 851 and
Supporting Schedules.”
To select last year’s subtotal method default, “Show All Lower Tier Sub-Consolidated Companies as One
Company on Supporting Schedules and Form 851,” go to Consolidated > Options > Show sub-consolidated
members as one company (Interview Form CC-1).
Consolidations
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2015 Update Seminar
State Consolidated Electronic Filing Help File
Go to Consolidated > Membership Information and press F2 or
click Help/This Worksheets instructions on the menu bar to
review the new help file for State Consolidated Electronic
Filing (Interview Form CC-1).
Partnership and S Corporation Consolidations
Option to Print Combined Schedules
A new option is available to print combined
schedules to include columns for
consolidated, elimination and adjustment (as
previously done for Form 1120). Check the
box at Consolidated > Options > Print combined schedules that include consolidated, elimination and
adjustment columns (Interview Form CC-1).
Option to Print Statements
Similar descriptions now automatically combine on statements when using the default option to Combine
similar descriptions at Consolidated > Options > Option for print statements for Form 1120S (1065), pages 1
through 5 (Interview Form CC-1).
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Review Question
Question: For Form 1120 consolidations, what options are available to produce eliminations for included
companies?
A.
B.
C.
D.
Journal Entries within Consolidation
Direct Entry Method within Consolidation
New Consolidated Elimination Method
All of the above
Answer:
Question: The Consolidated Schedule M-3 option allows you to combine like descriptions for Corporations, S
Corporations and Partnerships.
A. True
B. False
Answer:
Consolidations
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2015 Update Seminar
Exempt Organization – Form 990
Form 990-T, Exempt Organization Business Income Tax Return
• Added calculations to produce Form 8801, Credit for Prior Year Minimum Tax – Individuals, Estates, and
Trusts
• Form 8868, Application for Extension of Time To File an Exempt Organization Return
o Added electronic filing capability
Form 990, Report of Organization Exempt From Income Tax
• Schedule A, Public Charity Status and Public Support
o New reporting requirements for Section 509(a)(3) supporting organizations
o Modified these data entry sections:
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2015 Update Seminar
CCH Axcess Tax
Electronic Filing
Desktop Notifications
We added a desktop notification that shows the status of uploads to Electronic Filing Status System without
needing to open Batch Manager for verification processing completed.
Single Notification
Multiple Notifications
The notification appears in the lower right corner of screen above all windows until you click the auto-hide
button.
CCH Axcess Tax
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User Desktop Notification
You can configure what notifications you want to receive on your desktop. The default selection displays a
notification when an exception occurs.
Steps to Configure Electronic Filing Upload Notifications:
5. From the Dashboard, select User Options or click the Application
button in Return Manager and
click User Options
6. Click Tax > Miscellaneous in the left navigation pane
7. Under Electronic filing upload notification, select your preferred option
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Upload Report
We added an Upload Report button to the EFS group on the Utilities ribbon allowing you to view your upload
history to the Electronic Filing Status System for the past 72 hours. You can Print the report or Export the
report to Microsoft Excel.
Return History
We added these return activities when you select the Return History button in the Manage group on the
Home ribbon:
• Return – Return sent to EFS
• Extension – Extension sent to EFS
• New York IT-204-LL – NY IT 204 LL sent to EFS
• Report of Foreign Bank/Financial Accounts – FBAR sent to EFS
CCH Axcess Tax
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•
•
EFS Upload – Successful
EFS Upload – Exception
View Auto-Generated PDF Files
We added the ability to view PDFs auto-generated during the upload to the Electronic Filing Status System.
Return Rebuilder
We added the ability to “rebuild” your CCH Axcess tax returns when data cannot be removed from the return.
Return Rebuilder strips the return down to data entered. The Rebuild process creates a second version of the
return. We recommend that you attempt to Recover returns when possible.
The rebuild process removes these items:
• Tick Marks
• Amounts marked as Estimates
• Government Form overrides
You must have the functional right to Add Tax Returns to use Return Rebuilder.
Steps to Use Return Rebuilder:
1. In Return Manager, highlight the return you want
to rebuild and click Rebuild button in the
Maintenance group on the Utilities ribbon.
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2015 Update Seminar
2. The next window asks you to confirm you want to rebuild the return. Click Continue after reviewing
the displayed information.
3. A window appears during the rebuild process
4. A confirmation window appears when the process completes successfully. Click OK.
Worksheet Grid Pagination
We added pagination for horizontal and vertical grids that contain 20,000 or more cells. The maximum
number rows displayed per page is 100.
CCH Axcess Tax
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2015 Update Seminar
Transmittal Letters
For CCH Axcess Tax, at General > Letters and Filing Instructions > Special Paragraphs an entry of “N” in any of
the highlighted fields suppresses the applicable paragraph.
Tax – Correspondence Manager
We added the ability to perform basic math calculations when you create keywords to use in custom letter
templates. You must put Keywords in a table and use the Formula options in Microsoft Word.
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Firm – Global Lists – Tax Lists
•
Separate Name, Address, City, State and Zip for State signature location (if different)
•
Signer location address overrides the Signer address information on the Form 2848, Power of Attorney
if Signer location configured for the signer
CCH Axcess Tax
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Tax – Return Configuration Sets
Main Window Usability Changes
•
Added column to show last modified by User ID and Date
•
Changed the tree control for Correspondence and Electronic Filing options for consistency with the rest
of the suite
Added a Save & Close button that saves the current changes and closes the Return Configuration Set
window
•
These changes are discussed in detail in the Office Manager chapter.
Signature Block
•
•
Added NYTPRIN Exclusion Code field to Signature block and Staff profile setup
Separate Name, Address, City, State and Zip for State Signature block (if different)
Correspondence – Letter Options
•
Added a “No Selection” option to Closing and Signature options
Print Options
•
Added ability to Suppress Cover Sheets
Electronic Filing Options
•
•
•
Individual
o Added Electronically sign authorization forms checkbox
o Added Enable eSign if state returns do not qualify checkbox
Partnership – Added Electronically file return checkbox
Added checkbox to send FBAR electronic filing notifications to all applicable return types
1040 Options
•
Added Exclude federally tax-exempt interest from the state Net Investment Income checkbox
1041 Options
•
•
Added Exclude federally tax-exempt interest from the state Net Investment Income checkbox
Added Suppress interest and dividend summary checkbox
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Firm – Settings and Defaults – Tax (Same changes as ProSystem fx Office Manager)
•
•
•
•
Removed Current DCN Sequence Number field
Added separate mailing address fields for Pennsylvania Cities configuration
Added input for School district code for Pennsylvania Cities configuration
Added separate tax rate entries for Pennsylvania Cities configuration
Firm – Global Lists – Tax Lists (Same changes as ProSystem fx Office Manager)
•
•
Separate Name, Address, City, State and Zip for State signature location (if different)
Signer location address overrides the Signer address information on the Form 2848, Power of Attorney
if Signer location configured for the signer
DataScan
We added the ability to scan several client profile keywords such as Client ID, Client Group, Responsible Staff
and Return Status.
You must purchase a separate license to use DataScan.
CCH Axcess Tax
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Preparing for Tax Season
Important Note About Installing ProSystem fx
Only ten years of the ProSystem fx Tax program can reside in the wfx32 folder. If you still use the 2004
program, you need to remove or delete the 2004 program before installing Release 2013.05000. If the
installation program detects 2004 files on your system during installation of ProSystem fx Tax version
2013.05000, a message displays requesting that you archive and remove the 2004 program and data files.
In preparation for the installation of the 2014 Tax program, you must remove your
2004 tax files. Please go to our on-line Knowledge Base for instructions:
http://support.cch.com/answers and search for article number sw17858.
Please visit http://support.cch.com/answerdoc.aspx?id=sw17858 for the step-by-step instructions for the
removal of your 2004 files. The automated utility moves the return data files and uninstalls the necessary
program files.
You can use Fx Direct to access prior year returns.
Global fx no longer supports tax year 2004. You must archive all 2004 tax files locally or you can no longer
access those returns. In addition, we will announce procedures in an e-fxNews Release Bulletin on how to
obtain PDF copies of returns from Support.
Configure Tax Preparation
Each year we incorporate changes to the program settings to improve the customization of your organization’s
tax return processing. We recommend you review all of your settings to assist you in a smooth tax season.
You can access these settings under Office Manager – Configure Applications – Tax Preparation.
Default Returns
If you created Default Returns for your 2013 returns, you can roll them forward for 2014 using Production
Processing. Please review your settings before you start your 2014 return processing.
You can create Default Returns to set additional options not in Office Manager in all returns as you
open or create the return. Setup the Default Returns by selecting Default Returns from the Options
menu in the Tax program. As a best practice, we recommend that you password protect the default
returns.
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Staying Connected During Tax Season
Forms Release Status
The forms release status for federal and state forms are an important area to track at the beginning of tax
season especially when some forms may be in a preliminary or not-released-as-final status.
• The first releases include diagnostics in each return explaining the form status
• We distribute an e-fx Release early in the 2015 tax season outlining the form status definitions
• You can access our website to determine the release status of all forms by product, state and status
Steps to Access the Forms Release Status Database:
1.
2.
3.
4.
Go to http://support.CCH.com, click the Product Support tab and select ProSystem fx Tax or CCH
Axcess Tax
Click the Forms Release Status link
Enter your email address and password (or click the Register Now! button to setup a new
registration), and click Sign In
Click the desired Tax System link and click the blue triangle to select the Taxing Authority desired
The Current Release Form Status can have the following designations:
• Prior Year – Based on the prior year tax forms. We have not received the official form from the taxing
authority.
• Preliminary – We have based the program update on preliminary forms received from the taxing
authority. Further changes are expected.
• Approval Pending – We have submitted this form to the taxing authority for scanning verification.
Before you can file the form, taxing authority approval is required.
• Not Released – The program is not available with this release.
• Final Update in Process – We have not completed final development, testing and/or release of
program. You should review thoroughly these calculations prior to filing.
• Released – We have released the program for processing and the associated form is available for
filing.
If you have any questions, contact ProSystem fx Tax Support at 1-800-739-9998 or CCH Axcess Tax Support at
1-877-977-9739.
Website Location
The ProSystem fx website address is http://CCHGroup.com.
e-fxNews
e-fxNews is available to deliver time sensitive information using email such as technical bulletins, tax and
technical discussions, time saving tips, form release status and other useful information. We recommend you
setup multiple staff members in your office to receive these communications. There is no limit to the number
of staff members you can setup to receive e-fxNews.
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2015 Update Seminar
Steps to Setup e-fxNews
1.
2.
3.
4.
Go to http://support.cch.com/, under the Product Support tab, select ProSystem fx Tax.
Click e-fxNews Profile Setup from the Navigation panel on the left and log in or register.
Click the Establish your e-fxNews Profile button.
Enter the staff member information and check the appropriate boxes for the desired email alerts.
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2015 Update Seminar
Review User Preferences
Customize Toolbar
ProSystem fx Tax offers over seventy toolbar buttons you can use in customizing your tax return navigation.
To customize your toolbar, select Options/Customize Toolbar from the menu bar.
Drag a button from the left pane and drop it into the position you want in the right pane. You can also use the
Add and Remove buttons in the middle of the box to move buttons back and forth.
Your toolbar and user preferences roll forward from the previous year automatically.
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User Preferences
To configure your defaults, select Options/Preferences/Tax Return Preferences on the menu bar.
User preferences and toolbar settings are specific
to each user ID. We recommend that all staff
members review their settings each year.
What’s New for 2014
Each year we highlight the new enhancements for all of the tax programs in an on-screen help document.
Access this information by selecting Help/What’s New for 2014 on the menu bar.
Competitive Conversions
Same Year and Pro Forma conversions are available for many competitors. After you download the conversion
program, click “Learn more about conversions” in lower left corner to consult the Vendor Documents to find
any special circumstances with the conversion process for the software you are converting.
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2015 Update Seminar
Pre-Season Checklist / Program Release Dates
Pre-Season Checklist
Administrators/IT Staff
 Load Organizer and Pro Forma programs (Release 2013.05000)
 Check Office Manager for new Organizer/Pro Forma options (Office
Manager/Configure Applications/Tax Preparation)
 Calculate and Print Organizers if desired (Production Processing/Process Client
Organizers)
 Create Pro Forma rollover data files (Production Processing/Process Pro
Forma/Create Pro Forma)
 Print Pro Forma if desired (Production Processing/Process Pro Forma/Print Pro
Forma)
 Load 2014 release (2014.01000 or greater)
 Update Office Manager for 2014 Options (Office Manager/Configure Office
Groups)
 Pro Forma Default Tax Returns using Production Processing and configure for 2014
tax return processing (Options/Default Returns in the tax program)
 Run Workstation Setup on all workstations accessing ProSystem fx Tax









Staff Members
In 2014 Tax Preparation, review your:
 Startup screen preferences (Option/Preferences/Startup Screen Preferences)
 Tax return preferences (Options/Preferences)
 Toolbar configuration (Options/Configure Toolbar)
 Research interface configuration (Options/Interface Options/Research)
 Accounting Bridges configuration (Options/Interface Options/Accounting Bridges)
 Configuration for the setting to save PDF files to ProSystem fx Engagement
(Options/PFX Engagement).






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2015 Update Seminar
Program Release Dates
Follow this link for the current e-fx Download, Software Delivery Manager and Global fx release schedule for
the 2014 software:
https://prosystemfxsupport.tax.cchgroup.com/service/support/product-release-schedule.asp
To check the status of a specific government form, please visit
https://prosystemfxsupport.tax.cchgroup.com/service/support/tax-default.asp.
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2015 Update Seminar
Post-Seminar Resources
•
•
You can access our support calendar and phone options at http://support.cch.com/calendar/
Web-based Training – We offer a variety of web-based training seminars for the ProSystem fx
products, Global fx and CCH Axcess Tax. Visit our website (ProSystem fx Tax Training) to view course
descriptions, schedules and to register for a seminar.
YouTube Training
Search YouTube for “Wolters Kluwer, CCH Training & Support” or follow this link
https://www.youtube.com/playlist?list=PLNt0fEFriqSgX8I44fcYfu6gHTfKA6lsc for the latest playlists of short
training videos. Training videos include:
• Locking a Tax Return
• Preparing Same Sex Marriage State Returns
• Splitting a MFJ Tax Return
• Multi state Wage Data Entry
• Creating a Managing Tax Return Versions
• Using the Extension Lock Unlock Feature
On-Demand Recorded Seminars
Bring the CCH User Conference to You
We recorded five of our most well attended, highly rated, software specific User Conference sessions.
Customers who did not attend the User Conference or did attend and want to share some of the content with
their co-workers, now have the opportunity to purchase recorded versions.
The User Conference courses recorded include:
• Enhancing Your Tax Practice with Adobe® Acrobat®
• Improving the Tax Return Process: Individual Returns
• Improving the Tax Return Process: Business Returns
• Maximizing Efficiencies with ProSystem fx Engagement
• Maximizing Efficiencies with ProSystem fx Knowledge Coach
Details:
•
•
•
•
•
The retail price of each course is $249
The pricing is per course, not per viewing or per user
These courses are good for 90 days after the date of purchase
The courses range from 1 hour to 2 hours in length
CPE credit is not offered
Bundle – Why choose just one?
Because many of the courses are applicable to each firm, we are offering a bundle that includes five of the six
available courses. This bundle price is $750. The bundle spans the Tax Update and User Conference courses
and include:
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2015 Update Seminar
•
•
•
•
Enhancing Your Tax Practice with Adobe® Acrobat®
Improving the Tax Return Process: Individual Returns
Improving the Tax Return Process: Business Returns
Maximizing Efficiencies with ProSystem fx® Engagement
To order on-demand recordings, visit http://www.cchgroup.com/training-and-support/software-training-andconsulting-services.
Technical Support
To ensure a professional trained in the area where you need assistance answers your call, please use the
following options when you call for support.
To contact teams that support ProSystem fx and other software products, call 1-800-739-9998:
Option 1 Sales, Account Renewal, Product Information, Orders or Billing
Option 2 Customer Training
Option 3 Tax Preparation Forms, Input and Technical Support
Option 4 Engagement, Knowledge Coach, or ActiveData
Option 5 Practice, Product Support
Option 6 Document and Scan
Option 7 Site Builder Sales and Support
Option 8 Trial Balance Support
Option 9 Portal
To contact teams that support CCH Axcess, call 1-877-977-9739:
Option 1 Tax Preparation
Option 2 Installation and Configuration
Option 3 Document
Option 4 Practice and Workstream
Option 5 CCH KnowledgeConnect
Option 6 Portal
To contact teams that support ProSystem fx Tax for Business products, call 1-866-513-2677:
Option 1 Income Tax and Workflow Solutions – Sales, Account Services, and Training
Option 2 Income Tax and Workflow Solutions – Product Support
Option 3 Sales Tax Solutions – Sales Support
Option 4 Sales Tax Solutions – Product Support
Option 5 Corporate Insurance
Option 7 CCH Integrator Sales
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Support Answers Database
Use http://support.cch.com/ to find answers to your questions at any time.
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2015 Update Seminar
Web Ticket
Steps to Open a Web Ticket:
1. Enter http://support.cch.com/ticket/ in your Internet browser
Add this site to your Favorites. You can submit a Web Ticket for
after-hours support requests.
2. Select “Technical or product support”
3. For Issue Details, enter “ProSystem fx Tax” as the Product
4. Choose the radio button for product or Technical Support
5. Enter a brief summary description.
6. Enter a Detailed Description, of your issue or question
7. Check the box if this is for an enhancement request
8. Browse for an attachments, i.e. Word, Excel or PDF files
9. Enter your Contact Information
10. Choose the radio button for your preferred method of communication
You can enter a Web Ticket for any licensed CCH product included in the Product list.
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2015 Update Seminar
Chat Online with Support
You can take advantage of an online chat option. Support representatives are available to chat online, helping
you with technical installation and system questions during scheduled support hours. This online solution can
provide immediate answers to your questions, allowing you to get right back to your day-to-day tasks.
Steps to Access Online Chat:
1.
2.
3.
4.
5.
6.
Visit CCH Support, select “Contact Us” and click “Chat”
Enter a brief description of your question or issue
Click Chat Now
In the “Select a Team” list, choose the appropriate option, “ProSystem fx Office” or “CCH Axcess”
Then, use the second list to select a product in the team, for example “Tax: Technical Support”
Fill in the other required fields, then click Chat Now
These departments are listed and available for Chat:
• ActiveData
• CPA Accounting
• Engagement
• Fixed Assets
• Planning
• Practice
• Workstream
• Scan
• Tax: Business
• Tax: Corporate Insurance
• Tax: Other (990, 5500, 706/709)
• Technical Support
• Customer Service
• Global Integrator
• Client Intelligence
• Electronic Filing
• Portal
•
•
•
•
•
•
•
•
Document
Knowledge Coach
Practice Management
SiteBuilder
Tax: Individual
Trial Balance
Sales Tax Solutions
Data Migration Utility
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Remote Support
Remote Support utilizes GoToAssist, a web conferencing tool, to allow support representatives to share a
desktop, mouse and keyboard with you to resolve the problem quickly, efficiently and effectively.
To initiate a session of GoToAssist, the support representative will ask you to go to www.support.cch.com and
select Remote Support or select Help/ProSystem fx on the Web/Start a Remote Session on the menu bar.
Enter your name and account number. The support representative will provide the Access Code. Click the
Launch Remote Support button.
You are reminded to close all confidential information.
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You are able to show the support representative exactly what the problem is instead of trying to explain it,
allowing you to work together for a resolution. If you need to send any files to support, that option is
available as well.
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2015 Update Seminar
Other Products – Integration and Enhancements
Wolters Kluwer, CCH provides its customers with an integrated set of tax and accounting solutions. We
regularly add new products to the existing suite of integrated products. Additionally, each year we make
changes or enhancements to existing products that integrate with ProSystem fx Tax, Global fx and CCH Axcess
Tax.
ProSystem fx Engagement
Use the 2014 Tax Grouping Update Wizard to update tax groupings and tax line codes for 2014 returns. To
import trial balance data from Engagement to Tax successfully, you must run the Update Wizard each year.
Download the new Tax Grouping Update Wizard from the CCH website at
http://support.cch.com/updates/Engagement/.
ProSystem fx Portal
ProSystem fx Portal is a standalone product that provides you with a convenient and secure way to exchange
documents with clients. A portal is an electronic storage space where you can effortlessly upload, download
and store files. The integration between Portal and Tax allows you to print directly to Portal any tax form or
document produced by the tax software.
ProSystem fx Scan with AutoFlow Technology™
ProSystem fx Scan automates the time-consuming tasks of gathering, extracting, organizing and bookmarking
tax data from scanned source documents, making it easy to export and populate that data into ProSystem fx
Tax. Your tax preparation process will be easier and more efficient.
AutoFlow is a data import method that provides you with the ability to validate and import scanned data
directly into a tax return. The AutoFlow wizard does not require any configuration with ProSystem fx Tax.
Launch the wizard from the Scan Workstation to give you a single location to verify the accuracy of scanned
data in a seamless fashion.
IntelliConnect®
ProSystem fx Tax, Global fx and CCH Axcess Tax integrates with IntelliConnect. You can perform context
sensitive tax research by placing the cursor in a data entry field in the tax application, or highlighting a field on
a tax return, and selecting IntelliConnect from Help on the menu bar or click the IntelliConnect
button on
the toolbar. IntelliConnect launches and the research results from the CCH U.S. Master Tax Guide appear onscreen. You must have a license for IntelliConnect to enjoy this
integration feature.
Steps to Configure IntelliConnect Integration:
1.
2.
Each staff member must select Options/Interface
Options/Research on the menu bar in ProSystem fx Tax.
Enter their assigned IntelliConnect User ID and
Password in the appropriate fields.
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CCH® Tax Prep Partner™
Available for Forms 706, 709, 990, 1040, 1041, 1065, 1120 and 1120S, CCH Tax Prep Partner Series includes
explanatory content pulled from CCH’s comprehensive tax compliance library, unique practice materials and
tools that provide step-by-step analysis of the tax preparation process, for federal tax returns. We designed
these materials to follow your tax preparation workflow so you save time and increase your productivity.
Highlight any field on a tax form and select Help/CCH Tax Prep Partner on the menu bar, or click the Tax Prep
Partner
button on the toolbar, to run a context-sensitive search of Tax Prep Partner materials. The results
of the search appear on screen.
IntelliForms®
Use the IntelliForms
button on the toolbar. You must subscribe to IntelliForms to access the program.
IntelliForms transforms the way you find, view, complete, save, print and store forms. Working from an easyto-use interface and intuitive toolbar, it allows you to:
• Use targeted filters to narrow your search of more than 20,000 forms and instructions, including sales
and use tax forms, expanded sets of nonprofit, financial and estate planning forms
• Instantly link from the form to relevant sections of official instructions
• Use tab format to organize and categorize your data by client
• Check for the latest version of a form each time it is opened
• Flow data from draft form to final form and from worksheet to related form
• Import saved PDF forms into ProSystem fx and access forms from the ProSystem fx dashboard
• Link from the form field to CCH Tax Prep Partner Series, offering explanatory and compliance-focused
research content
• Access interactive, archived versions of forms from 2005 to the present and an online library of forms in
PDF format going back to 1998
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ProSystem fx Document
ProSystem fx Document is a complete document storage and management system available as a Software as a
Service solution. The integration with Document allows you to print from the Tax software directly to
Document. Access this integration point from Options/Interface Options on the menu bar.
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ProSystem fx Workstream
Clicking the Link to Workstream
button on the toolbar allows you to create a new project to link to the
work product or select to link the work product to an existing project.
Clicking the Open Route Sheet
button on the toolbar opens the Route Sheet in Workstream allowing you
to update the status of the project.
Workstream lets you take control of your workflow so you can spend more time on billable work and less time
on managing people and projects. It is scalability and flexibility makes it an excellent choice for any size
accounting firm. You can set up Workstream to:
• Track due dates so projects are turned in on time
• Clock time spent on projects
• Automatically trigger project status notification, including milestone dates and budget-to-actual
analysis
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•
•
•
•
•
•
2015 Update Seminar
Email or post notifications to a dashboard for convenient monitoring
Keep management informed of project goals, additions or changes
Assign staff to the next step in a project after completing the prior step
Alert management when start, target and due dates are met
Integrate with CCH Time Capture, Billing and Accounts Receivables modules
Use templates to get you started or create customized reports
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Transcription

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