QuickBooks Tax-Line Mapping   Business Returns to Which the Tax-Line Mapping Applies   Line in the Business Return to Which Data Flows   Income: Gross receipts or sales   1120, 1120S, 1065   Income Statement, Line ... Read More

State Refund... Read More

The 5498 forms (5498, 5498-ESA, 5498-SA) provide information on a taxpayer’s account... Read More

Form 4562 Requirements Form 4562 is employed for certain situations. The mere presence of depreciation on a tax return does not require Form 4562 to be filed. Form 4562 is only required for the following: Depreciation for property placed in service ... Read More

Form 8867 - Earned Income Credit  Paid preparers of Federal Income Tax Returns or claims for refund involving the Earned Income Tax Credit (EITC) must not only ask all the questions required on Form 8867, but must meet the due diligence requi... Read More

Audit Allies Contact: 866.505.1800Website: https://www.auditallies.com/FAQ:https://www.auditallies.com/faqs/ Audit Allies (Base Fee $59.95) Add up to $40.03 Include Audit Protection at an affordable Price Earn Additional Revenue with Mark-Up and ... Read More

Configuring a Billing Schedule... Read More

 QuickBooks data in a business return Begin by reviewing the Tax-Line mapping associated with each account in the Business’ QuickBooks Chart of Accounts. The Program will enter the imported amounts on specific lines of the Income Statement,... Read More

Schedule E  rental Income for a portion of a primary home 1. Click Add Form, then click SCH E PG 1 to add a Schedule E to the tax return. 2. Double click the SCH E COL form to use for this rental under PROFORMA FORMS on the Attached Forms list.... Read More

This article addresses the verify error surrounding the Safe Harbor Sign Statement within the Sch 1 and Explains what is Safe Harbor.   The program suggests the following:  A Sec 199A Safe Harbor Signed Statement is required when the ... Read More

TERMS OF SERVICE FOR ONLINE TAX PREPARATION SERVICES - TAX YEAR 2021 BY CLICKING THE "ACCEPT" BUTTON OR ACCESSING OR USING THE SERVICES, YOU ARE ENTERING INTO AND AGREEING TO BE BOUND BY THE TERMS OF THIS AGREEMENT. IF YOU DO NOT AGREE TO THE TE... Read More

 PRIVACY POLICY Central Site Important Information: Please read this carefully as we have made updates to our Privacy Policy. This Privacy Policy goes into effect September 2020.  At Central Site (“CPTS,” “us,” �... Read More

Using Form 4852... Read More

View the links below for help with EIC Income Limits, Maximum Credit Amounts, Qualifying Rules, & Claiming Without a Qualifying Child Publication 596, Earned Income Credit (EIC) EITC Income Limits, Maximum Credit Amounts, And Tax Law UpdatesIRS ... Read More

Taxpayers that contribute to a traditional IRA may be eligible to deduct the contributions as an adjustment to income. If covered by an employer retirement plan, the deduction has a phase out. For more information see IRS Publication 590 A.   ... Read More

Child Tax Credit ... Read More

Repairing the program   See the following methods for repairing the program: Method 1. Run the repair utility On the Utility menu, click System Utilities. Click Software Diagnosis and then click Run Utility. If... Read More

Entering withholding from 1099-B  Double click FRM 1040 on the "Forms Attached" pane. In the Income, deductions, taxes, credits and payments section, enter the Federal Income Tax withheld in the Adjustment box for Federal Income Tax withheld f... Read More

Report Form 1098-A... Read More

  There are certain requirements that first must be met in order to deduct employee business expenses for qualified performing artists on Form 1040.  1. The Adjusted Gross Income must be $16,000 or less before deducting expenses as a perfor... Read More

Lost IP PINs Taxpayer IP PIN holders who have lost or misplaced their numbers are to contact the IRS. Should you receive a CP01A Notice that contains your IP PIN, yet that of which has been lost or misplaced, you may call us for specialized assistan... Read More

This article will walk through the process of adding an asset through the asset manager within the program.Assets can be linked to the following Schedules C, E, & F. Those schedules should be added to the return before adding assets. Multiple... Read More

The amend process is used to apply corrections or provide additional income, credits, deductions, etc; to a Tax Return already acknowledged by the IRS. In many cases, mathematical errors are caught and corrected by IRS so the partner should determine... Read More

Symptom The tax preparer has a tax return where they feel the depreciation calculation is incorrect. It may have too large of a depreciation deduction. Possible Cause When an amount has been entered for prior year depreciation, and the amount is less... Read More

Symptoms While attempting to email any form from within the 1040 Software the following error occurs: ’Error - Failed to invoke Method’ Resolution From within the 1040 software navigate to Setup Select Office Setup  Click the Text... Read More

“Simple” Returns – What are They and What You Need to Do to Complete Them... Read More

This proforma form allows a preparer/tax payer the ability to compare filing exemptions, income & adjustment to income, deductions, credits, payments for the last 3 years of tax preparation on one form.   Where can the form be found/added to a... Read More

The Georgia Department of Revenue has announced House Bill 481, Living Infants and Fairness Equality (LIFE) Act. This allows GA residents to claim an unborn child as a dependent as of July 20, 2022. ... Read More

Use this article for questions related to the First-Time Homebuyer Credit.  Use the following IRS Link to locate details on the Taxpayers Account:IRS First-Time Homebuyer Account Lookup IRS Instructions for Form 5405:About Form 5405, Repayment of ... Read More