For your convenience, please reference tutorials below on how to print bank product checks, align checks, and how to void and reprint a check:
Wednesday, February 22, 2023
Friday, February 17, 2023
State News - South Carolina Business Returns
February 17, 2023
Updated:
Content updates for South Carolina are now available for download.
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February 16, 2023
The South Carolina DOR has posted an updated schema, version 1.1, for Business returns. Cutover to the new schema will occur at 6 pm ET on Thursday, February 16th.
Once the cutover is complete, any returns submitted under business schema version 1.0 will be rejected.
Content updates for the new schema version will be available to download Friday morning, February 17th.
Any e-files created before the cutover(and Module updates) will need to be recreated and submitted.
Refunds Today team recommends to hold any returns until the Update is available and has been applied.
Reference:
How do I update the modules and software in TaxWise®?
Thursday, February 16, 2023
Resolved- Unscheduled Maintenance Window
Service restored on return creation process
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Please Note:
The Refunds Today team will be performing a brief unscheduled maintenance window tonight, February 16, 10pmET.
- Thursday, February 16th, 10pm ET -- 11pm ET
- Systems Impacted: The Return Creation process might experience delays
We apologize for the inconvenience and the late notice. We appreciate your patience as we continue to enhance our systems to offer you the best experience possible during the Tax Season.
State News - Louisiana - DOR issues guidance on the filing of partnership returns
The Louisiana Department of Revenue has issued additional guidance on the filing of partnership returns.
Full details can be found on the LA DOR site.
Important Information Concerning Alabama Paper-filed Returns
The Alabama Department of Revenue is reminding all taxpayers to not mail in AL 40 and AL 40-NR returns that contain a watermark. Watermarked returns are for the Alabama taxpayers to keep for their records ONLY. Any returns mailed to the Alabama DOR with a watermark are invalid returns.
The preferred method of
filing is electronic filing. Alabama is approved for electronic filing.
Monday, February 13, 2023
IRS News - Form 7203 e-file support
The IRS is not adding e-file support for Form 7203 in tax year 2022. The 7203 will need to be attached as a PDF for tax year 2022.
Use Form 7203 to figure potential limitations of your share of the S corporation's deductions, credits, and other items that can be deducted on your return.
Who Must File
Form 7203 is filed by S corporation shareholders who:
- Are claiming a deduction for their share of an aggregate loss from an S corporation (including an aggregate loss not allowed last year because of basis limitations),
- Received a non-dividend distribution from an S corporation,
- Disposed of stock in an S corporation (whether or not gain is recognized), or
- Received a loan repayment from an S corporation.
Saturday, February 11, 2023
IRS Update -- IRS issues guidance on state tax payments to help taxpayers
The IRS has released an update regarding state tax payments.
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https://www.irs.gov/newsroom/irs-issues-guidance-on-state-tax-payments-to-help-taxpayersIRS issues guidance on state tax payments to help taxpayers
IR-2023-23, Feb. 10, 2023
WASHINGTON — The Internal Revenue Service provided details today clarifying the federal tax status involving special payments made by 21 states in 2022.
The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns.
During a review, the IRS determined it will not challenge the taxability of payments related to general welfare and disaster relief. This means that people in the following states do not need to report these state payments on their 2022 tax return: California, Colorado, Connecticut, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Maine, New Jersey, New Mexico, New York, Oregon, Pennsylvania and Rhode Island. Alaska is in this group as well, but please see below for more nuanced information.
In addition, many people in Georgia, Massachusetts, South Carolina and Virginia also will not include state payments in income for federal tax purposes if they meet certain requirements. For these individuals, state payments will not be included for federal tax purposes if the payment is a refund of state taxes paid and either the recipient claimed the standard deduction or itemized their deductions but did not receive a tax benefit.
The IRS appreciates the patience of taxpayers, tax professionals, software companies and state tax administrators as the IRS and Treasury worked to resolve this unique and complex situation.
The IRS is aware of questions involving special tax refunds or payments made by certain states related to the pandemic and its associated consequences in 2022. A variety of state programs distributed these payments in 2022 and the rules surrounding their treatment for federal income tax purposes are complex. While in general payments made by states are includable in income for federal tax purposes, there are exceptions that would apply to many of the payments made by states in 2022.
To assist taxpayers who have received these payments file their returns in a timely fashion, the IRS is providing the additional information below.
Refund of state taxes paid
If the payment is a refund of state taxes paid and either the recipient claimed the standard deduction or itemized their deductions but did not receive a tax benefit (for example, because the $10,000 tax deduction limit applied) the payment is not included in income for federal tax purposes.
Payments from the following states in 2022 fall in this category and will be excluded from income for federal tax purposes unless the recipient received a tax benefit in the year the taxes were deducted.
- Georgia
- Massachusetts
- South Carolina
- Virginia
General welfare and disaster relief payments
If a payment is made for the promotion of the general welfare or as a disaster relief payment, for example related to the outgoing pandemic, it may be excludable from income for federal tax purposes under the General Welfare Doctrine or as a Qualified Disaster Relief Payment. Determining whether payments qualify for these exceptions is a complex fact intensive inquiry that depends on a number of considerations.
The IRS has reviewed the types of payments made by various states in 2022 that may fall in these categories and given the complicated fact-specific nature of determining the treatment of these payments for federal tax purposes balanced against the need to provide certainty and clarity for individuals who are now attempting to file their federal income tax returns, the IRS has determined that in the best interest of sound tax administration and given the fact that the pandemic emergency declaration is ending in May, 2023 making this an issue only for the 2022 tax year, if a taxpayer does not include the amount of one of these payments in its 2022 income for federal income tax purposes, the IRS will not challenge the treatment of the 2022 payment as excludable for income on an original or amended return.
Payments from the following states fall in this category and the IRS will not challenge the treatment of these payments as excludable for federal income tax purposes in 2022.
- Alaska [1]
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Hawaii
- Idaho
- Illinois [2]
- Indiana
- Maine
- New Jersey
- New Mexico
- New York2
- Oregon
- Pennsylvania
- Rhode Island
For a list of the specific payments to which this applies, please see this chart.
Other payments
Other payments that may have been made by states are generally includable in income for federal income tax purposes. This includes the annual payment of Alaska's Permanent Fund Dividend and any payments from states provided as compensation to workers.
[1] Only for the supplemental Energy Relief Payment received in addition to the annual Permanent Fund Dividend.
[2] Illinois and New York issued multiple payments and in each case one of the payments was a refund of taxes, which should be treated as noted above, and one of the payments is in the category of disaster relief payment.
Monday, February 6, 2023
IRS Tax Alert - Taxability of State Payments
The following IRS Statement was issued by the IRS.
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IRS issues statement about the taxability of state payments
February 3, 2023
February 3, 2023
The IRS is aware of questions involving special tax refunds or payments made by states in 2022; we are working with state tax officials as quickly as possible to provide additional information and clarity for taxpayers. There are a variety of state programs that distributed these payments in 2022 and the rules surrounding them are complex. We expect to provide additional clarity for as many states and taxpayers as possible next week.
For taxpayers uncertain about the taxability of their state payments, the IRS recommends they wait until additional guidance is available or consult with a reputable tax professional. For taxpayers and tax preparers with questions, the best course of action is to wait for additional clarification on state payments rather than calling the IRS. We also do not recommend amending a previously filed 2022 return.
Thursday, February 2, 2023
Client Accounting Suite/Premier version 22.2 is available
The 22.2 version of CAS is now available from the Solution Center or via the auto-update feature in CAS. It includes the following regulatory updates.
Regulatory Updates
The following regulatory information is now available for Client Accounting Suite and Client Accounting Suite Premier:- 2022 Federal Forms update
- ACA 1094-B, 1095-B, 1094-Cand 1095-C are included in this update.
- 2022 W4 is available in Blank Forms.
- District of Columbia was added to the states available for the Combined Fed/State reporting in 1099 electronic filing.
- 2023 State Withholding Rates - The following state withholding calculations have been updated for 2022:
- Illinois
- Maryland
- Mississippi
- North Carolina
- North Dakota
- Oregon
- Rhode Island
- Vermont
- Note: As other states change their rates for 2032, we will provide updates on the support website.
- Reminder: Be sure to update the state wage limit in the State Setup before processing payrolls for 2023.
- Review the Year End Guide for all Regulatory questions and procedures. The Year End Guide is available on-line in PDF format from the Help Menu.
Software Updates
- The 2022 Tax Exports for ATX and TaxWise are available in this update. Tax Line assignments have been updated for 2022.
- The 2022 Tax Exports for ProSystem fx, Axcess, Lacerte Tax and ProSeries Business Tax have been enabled.
- Client Write-Up has been updated to work with Sage 2023.
- Note: The QuickBooks 2023 Import will be enabled in the next CAS Update.
Scheduled Updates
March 2023 - Client Accounting Suite 22.3
- QuickBooks 2023 Import
- 941 and State Quarterly Returns
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