The TSS does not generate statements for renewal, it must be eliminated in the 1040 and added again before the declaration.
First you must complete the taxes, click on verify and then click on complete making sure that everything is complete and reviewed, select electronically and scroll down on the dashboard click on Start Payment, then click on Add new Invoice, follow the steps to complete the invoice and after having made the invoice there the Transmit Now button will be activated
Create the client with a number that starts with nine, and then select apply for W7, at this moment the space where the number goes will be blocked, go to the W7 form, click on edit, answer the corresponding questions, in the line 6e select that the taxpayer has already received an ITIN number, and on line 6f enter that number, answer the missing questions and select Save, at this point the W7 form will come out as renewal.
The ERO PIN is the preparer’s information, it begins with the EFIN numbers and 5 election numbers that are not zeros, it can be configured in Set Up.
In the Dashboard click on SET UP, Then click on Bank, go to the green icon and click on it, Choose the bank of your choice in this case we recommend TPG from Santa Bárbara, click on save and continue. Take into account the following note DO YOU WANT TO CONTINUE WITH YOUR REGISTRATION WITH TPG? Select Yes
You will get the following warning:
Warning: Once you select a bank for enrollment you cannot change your bank option.
Once the bank information has been entered and the information to change banks has been saved, it is necessary to call support in the same way if wrong values are entered Then click on save and continue, select the state and click on save and continue.
Redirects you to PRODUCT CONFIGURATION
Note: From this step you must continue, since this is confidential information and you must carefully read the information requested by the Software regarding your bank, after filling in the requested information, click on save and continue.
Then comes the TPG – REGISTRATION – PRODUCT CONFIGURATION
It is the configuration of your product, carefully read the information that it asks for, you must also fill it out on your own, finally click on save and continue and your BANK PRODUCT will be configured.
You can only send one at a time from each return, not all together.
Virtual currencies are treated as property and must be reported in Schedule D. Additionally, the question must be answered in Additional Info, if transactions were made with cryptocurrencies or not.
If a tax return has already been transmitted, the Edit Icon will be locked, it can only be modified through an amendment with form 1040-X.
Form 8867 should only be completed if claiming the following credits (EIC, CTC, ACTC, ODP, AOTC) or Head of Household – HOH filing status. At the end of the declaration, select verify, if it is necessary to fill out form 8867, there will be a message for you to fill out before you can complete the declaration.
First you must create schedule c with the general information, save, and go to the corresponding 1099 form (NEC, MISC, K), fill out the corresponding form and select where you want to report, click on Pick From List, select the corresponding schedule C and click on save, in this way the income will be taken directly to Annex C.
You must enter the cash income on line 1.
If you do not need to fill out the QBI, you just have to close the window and you will be able to transmit it without any inconvenience.
In view print, look for Form 9325, the requested number will appear there.
California does not pay taxes on Unemployment. In column A they are deducting $10,200 from the Federal, but you have to add it back in column C because otherwise you would have a double deduction.
You must enter any earnings you have either W2 or WG or other.
If Form 1042-S has withholdings, you must enter that withholding amount on Form 1040 on line 25 C.
Form 1042-S will only be placed on Form 1040NR.
You must answer the question regarding merchandise on Form 760 or 763.
The TSS generates the Schedule SE automatically if the company has an Income, but if the company only has losses, it does not have to pay taxes on the losses, therefore the TSS will not generate the Schedule SE
If the taxpayer has contributions to an HSA – Health Savings Account, they must fill out Form 8889, if the contribution is through a Form W2, then the information will go directly. On Form 8889, you must indicate on the blue line the type of coverage that the taxpayer has, otherwise any contribution will be taken as an excess contribution.
You must go to Form 3853 and enter the exemption code D, in part III (third option of the form), in this way you will no longer have to pay the penalty.
You must have had a Schedule C in order to claim this Form. For 2021, the periods to claim these credits are January 1 to March 31, 2021, the maximum is 30 days and April 1 to September 30, 2021, the maximum is 30 and 60 days. Go to the magnifying glass, type Form 7202 and select the corresponding period. The system will give you the option to use prior year’s self-employment earnings.
Yes, by creating an account for your client through the My Tax Office application. From the client’s declaration, click on the My Tax Office button, you must select the option “Client Portal- Full Access” so that you can send and receive documents, this application works exclusively in the TSS web version.
Click the button that says “Pricing” – Price on the left side
You will see the buttons:
FEDERAL/ STATE/ DISCOUNT/ ADDITIONAL CHARGES
Below these options it says:
Pricing Options for Federal:
Then click on one of the following options: – Fixed Rate for all Returns – Set Price Price as Per Form – Set Price Manually after every return
After selecting any of them, you must put the price of your preference, you must do this with each of the following buttons Federal/State/Discount/Adiotional Charges and click Save Pricing.
You will then be able to go to your customer’s Tax Return and create your new Invoice.
The EFIN verification takes a while, however, it will not affect you at all when transmitting, just close the notification tab and continue with your work
You should look for Form 8812 and the amount should be placed on Line 14 F
In order for the transmit button to be enabled, you must enter the declaration of your client and in the upper icons click on “Verify” If there is no information to fill in, click on “Complete”, and after doing the “Invoice” button will be enabled “Transmit Now”.
Once the declaration has been sent, the “Edit” button will be automatically blocked, in the first 5 minutes you can go to the E-File button on the left side, click on “Queued” (Declaration awaiting transmission) then click on the red “Remove” symbol, do not select the 1040, click immediately on save and continue, and the return will no longer be in sent/wait. Go back to “Clients” to your client and the “Edit” button will be enabled there.
Note: If you send the declaration and more than 5 minutes have passed, you will not be able to edit the declaration, since once the declaration has been sent, you will not be able to edit it.
Select “View Print”, select the shapes you want to print, then click “Filing copy” and then click “Print Selected Form”, will open the PDFs in Adobe Crobat (You must have the Adobe Crobat program configured) of all the Documents you want to print from your client.
Form 1098 goes on Schedule A – Schedule A. You can only use this amount when itemized deductions exceed the standard deduction.
If you are entering the 1099 NEC first:
In the search engine we place 1099NEC, click on Add new- add new, place the information of the 1099 NEC, it is important to verify the name of the recipient and make sure it is the same as the one in Annex C or else the information will not match, place the amount and select Annex C from the list (since Annex C has not yet been created), and we click save, ignore and continue, the information of the 1099 NEC (name, amounts, etc.) will appear in red, this means that the information has not yet passed to the Annex. We go to the magnifying glass and place Annex C, create one, fill in the main information and click on Save. We return to Form 1099 NEC, we edit, and in the part of Reporting Section, we click on pick from list and there select Annex C. When saving the information it will be black, this means that this form has already been linked to Annex C selected.
If you still do not see a Schedule C, it is likely that the Schedule C and Form 1099 NEC are not in the same person’s name.30.
An S corporation does not have to file taxes at the state level in Florida, so when we finish the corporation return, we must go to the state of Florida, select delete and there complete the declaration in order to transmit.
There is no Form 1098 in Tax Season Software, the information must be added directly in Schedule A, Part III, Interest you Paid
It is done automatically every time you click Save
After you have finished making your client’s Tax return, then click on My Tax Office in the upper bar, then you will see 2 options.
Option 1: Gives your client full access to see the documents and sign and log in as many times as necessary and Option 2: The client can only enter once and sign.
Select the one you want (it is recommended to select the first option), click on continue, the basic data of your client will appear, you must enter your client’s email twice and click on send link. This is valid only for the Tax Season Software WEB version.
Only in the 2020 declaration.
You must search for Form 8995, select add new, and select the entity that has the income for QBI. If you have more than one in the list you must add one by one. Then you must read the fields that appear after adding the entity and fill in as appropriate. Then click on save.
QBI is a deduction before taxable income, if there is no taxable income, a QBI deduction will not be generated.
Yes, if the taxpayer received this number in a letter sent by the IRS, it is mandatory to enter it. If the declaration is sent without this number, it will be rejected. In case of not finding the number, the declaration must be sent by mail.
On the left side click on Tools, it automatically redirects you to the Import section, and you get 2 Import options.
Option 1: Simple Import (This option only imports the Basic Data of your customers such as Names, Surnames, SSN, etc.)
Option 2: Comprehensive Import: (This option imports with the basic data and with the forms and amounts of the previous year).
Note: If you select this form, keep in mind that when you make the declaration for that client this year, you must edit the declaration that has the information from last year and insert the new information from the current year.
Once imported in either of the 2 ways there is no way to import again with a different option. If you selected the Simple option, for example, you will not be able to change it to Comprehensive later.
The ERO PIN is the electronic signature of ERO. For consistency, each ERO is encouraged to use the same 11 numbers for their ERO PIN on all returns this filing season. The first 6 positions of your ERO PIN must be your EFIN and must match the EFIN in the Shipment ID. You can select any 5-digit code except all zeros for the next five positions. It does not replace the taxpayer PIN. A Taxpayer PIN is also required.
We must locate ourselves in the client that you want to delete and click on the Delete box and then you must enter the security code, once deleted you will not be able to recover it. If you have already transmitted the tax return and it has been rejected, you will not be able to delete it.
It is not possible to delete the amendment, otherwise you will simply not send it.
After having submitted the return electronically or on paper, you must select in the Others box you will find the option File Amended Return, then a box will appear that you have to select if you want to amend the federal and state, then it redirects you to the screen where you have to select Filed Amended Return again, then select again if you want to amend select federal and state and the amendment will open there.
Yes, if the original Declaration was made electronically, yes, otherwise you must send it on paper.
Find the form in the search, select add new, then add the form, there you have 3 options, select the corresponding option and enter the information, then select save. On the next screen you must answer the corresponding questions regarding the student, and according to your answers, the tentative amount of the credits will appear. It is up to your client which credit to choose if he is entitled to both. This information will then be transferred to Form 8863, where according to the AGI of the declaration, it will indicate how much is the total amount of the credit.
Put PMT in the search, there you can put your client’s 2019 earned income.
If you get the Attachment error, and if you have no other error you can ignore and continue, if you have another error it will not be possible to complete the statement.
Yes, you can E-file from previous years, up to 3 previous years.
The option to change from 1120 to 1120S is available only in the desktop version, otherwise you have to fill the 1120S again.
You must complete a 1040X and fill in the information again completely and correctly, then on Form 1040X enter in the appropriate column the information from the original return, including if any refund was paid or received.
1040SR is for adults over 65 years of age, there is no difference between the two forms except for the font size.
This is because the paper shipping declaration was selected or left in Queued – Wait, it can be changed, but not deleted.
In this case, the information in the Social Security Administration has a different date than the one the IRS has, your client must go to the Social Security office and verify what date the IRS has and correct the information. After this, you must wait two weeks for the information to be fixed in order to transmit.
This form is to calculate the penalty if your client did not make estimated payments, if you wish you can mark that you do not want to fill it out and the IRS will calculate the penalty for your client
If you want to fill it out, follow the instructions indicated on the IRS page.
No, only in the Desktop version
No, only in the Desktop version
Go to your client, open the tax return and when you click edit you will get the message with the error included, later it must be corrected, once the error has been corrected sometimes if a form was rejected the message may continue to appear only as an informative message but it does not mean that the error is present. If you have already corrected it, save your changes and submit again.
We must enter the declaration, in the search bar4868, we select it, we fill in the corresponding fields, including how much is the amount that will be paid with the extension, if they wish to pay the amount by bank withdrawal and we click save. We leave the declaration and there will appear to transmit extension now, click on transmit and that’s it. Extensions for businesses is form 7004, it has the same procedure, to finish the process we go to the client’s dashboard and there will be the option to transmit the extension.
In this case with that code, it means that you have a contribution to the HSA. In that case, you must fill out 8889, you must check the boxes that the client needs, the software automatically brings you the W2 information, but you must have coverage, since, if you do not enter the type of coverage, any contribution, even if it is 1 dollar will be taken as excess contribution generating taxes on Form 5329.
Yes, once your declaration is ready, you must do the Invoice/ Invoice, click on Start Payment, then on Add New Invoice, enter the Federal and state price if applicable, and then enter the description of the discount and below the discount or additional charge, click on continue and ready. The discount is not reflected in the invoice, but you will see reflected that the amount decreases by the discount that has been applied.
It can be done in 2 ways:
The first is on Schedule A in the contributions part, if the itemized deductions are not taken, the amount will automatically go to 1040-line 12b.
The second way is on form 1040, line 12b directly.
To fill out Form 8915-F, you must have the information from Form 8915-E of 2020 in order to enter the amounts correctly. If you created the client in Tax Season for 2020, the program will automatically bring you Form 8915-F.
In the tax season software, after filling in the information of an S Corporation or a 1065, you must create Schedules K-1 and fill them with the information of each partner/shareholder, this includes the percentage of ownership of the company, number of shares, social security number, type of entity, address etc. the information will be calculated based on what you placed. If the actual amount is different from the amount calculated by the software, you can check the Override box so that you can enter the correct amounts manually.
It is because estimated taxes were not paid, that is, taxes were not withheld, for this you may have a penalty, so you must look for the form and calculate the penalty or select the option of not filling out the 2210 form, in which case the IRS will calculate if the client must pay a penalty or not.
In any business form (1065, 1120 or 1120S) you must enter the declaration, in the search place Form 7004 and fill it out corresponding to each case, then you must click on save and exit the declaration. When exiting the declaration edition, the transmit extension line will be enabled.
The corporate forms must be supported by a signature in physical form, in the software form 8879 is enough
Go to tools and then to estimator, there you will find all the information you need to make a quick calculation of the declaration.
If your client does not remember the user when entering my tax office, we must go to the clients section and the information should appear there.
No, el tax season no emite la W2. No, the tax season does not issue the W2.
No, you have to create an amendment from scratch with all the information.
No, the minimum amount to declare is $12,500 for a single person.
You should exit the statement, log in again, click save in general info, and then go to verify, the error should be removed. If the error is not eliminated, go to Form 8582, click save once and then go to verify.
The California Form 568 will not be able to be sent electronically if it has assets or depreciation, if the Form 568 does not have assets or depreciation, the California return can be sent by e-file, but the 568 form must still be sent by paper , separately.
If your client does not remember their username, you should go to the clients button, then go to your client, enter My Tax Office, and your client’s username information will appear there.
No, you do not qualify for the premium tax credit
No, this information is not transferred from previous years in the TSS, it must be done manually.
You must create the declaration, and indicate that you want to apply for an ITIN, fill in the personal information, then you must go to the W7 form, click on edit, and fill in the corresponding information, for the renewal you must fill out line 6E, where you must place that if you have an existing ITIN number, and in 6F place the information of that number.
In the same way as an individual return, within the return you must select complete, when there are no more errors, you must continue and answer the questions that appear, answer yes to both. Then close the return, and in Manage Returns you must start the client Payment, once the payment is completed, the transmit box will be enabled.
You must enter the tax return, look for form 4868 in the magnifying glass, fill in the corresponding information, save, exit the return, and the transmit extension button will be enabled.
You are asked for this form due to excess contributions, in case you do not have excess contributions, review form 8889 and enter the type of contribution, depending on the type of contribution you enter, the Software will ask you for Form 5329 or not.
It is like sending a linked return, it was used much before but it is no longer used because it can be sent separately, which is better because if any of the 2, whether federal or state, has an error, the IRS will reject only one and not the others, and so you only have to correct the error of the rejected one and send it again, and the other will have already been accepted.
Within the declaration, in the magnifying glass, you must write Selling your home, there you must click on add, and then fill in the information about the sale, and the information to know if it meets the exclusion.
It is placed in Schedule A
To report the estimated payments that were made for the reporting year, you must open the Estimated Payments form, and enter the information on the payments that were made.
If you wish to generate the vouchers for the payments to be made for the current year, you must open Form 1040 ES, select a calculation method, and the system will generate the voucher information to print and deliver to the taxpayer.
Yes, you must click on amend the declaration, accept the amendment for the federal, then a list will appear, there you must select 1040 ES, DO NOT Start the Amendment, it is not necessary to calculate the estimated payments.
You can fill out Form 9465, entering all the necessary information. This form can only be filled out for the year being declared, that is, it cannot be filled out for an amendment or for a previous year. The other way to make the agreement is directly through the IRS website.
NOTE: It is important to note that you cannot fill out the EFW form to request that the money be withdrawn from the client if you are filling out Form 9465. In Form 9465 you will find the corresponding space to fill in the account information if you want to be debited the money to your client.
We create form 4562, add one and choose Pick From List and fill in the details of the asset to be depreciated, fill in all the corresponding information, according to the IRS instructions, if it is not placed in the correct way, it may result in an incorrect depreciation or not the amount of depreciation appears.
All the information is entered in Schedule H.
Using Form 7004 enter the declaration, fill Form 7004 click on Save, exit the declaration and the extension is enabled, click on Transmit. NOTE: When an extension is going to be submitted, you must fill out the extension and close the return, without clicking the Complete button on the Return, since you are not completing the return and you DO NOT NEED to do so to submit the extension.
By not having a bank account, the refund will be received by paper to the client.
The QBI is calculated at the individual level. In order to calculate the Qbi of a Schedule K-1 of a Form 1065 or 1120S, the other information box must have the amount of section 199A. This amount is the same amount as the company’s Ordinary Income, and must be recorded on Schedule K, so that it can go to the partners/shareholders and from there go to the individual.
Enter the declaration that you already created as 1040, in the list of forms click on the 1040NR form, the system will generate a question if you want to change from the 1040 to 1040NR form, you must select yes. The same applies, on the contrary.
Inside the declaration, on the top bar, you need to select Attachment, and there you will be able to upload documents from Attachment.
If the case is that the IRS rejected him, it means that the credit was disabled in the previous year and the information should be consulted with the client.
There can be several causes, one of them could be because the EIN is incorrect, it could also be because they send an extension with a type of company and it is registered in the IRS in a different way, if so, they can reject you and your client will have to contact the IRS directly to verify how your company is registered with the IRS.