Client Accounting Suite/Premier version (CAS/P) 21.3 is available

The 21.3 version of CAS/P is now available from the Solution Center or via the auto-update feature in CAS/P. It includes the following regulatory updates.

Regulatory Updates

The following regulatory information is now available for Client Accounting Suite and Client Accounting Suite Premier:

• 2021 Federal Forms update
• 1099-NEC printed forms will now:
• mask the Recipients TIN on Copy B
• the State ID field accommodates 15 characters for the ID
• 1099 Electronic Filing and Report have been updated to current specifications.
• 2022 State Withholding Rates - The following state withholding calculations have been updated for 2022:

• Arkansas
• Louisiana
• North Dakota
• Note:  As other states change their rates for 2022, we will provide updates on the support website.
• 2021 State W-2 Electronic Filing
• The Pennsylvania W-2 electronic filing has been updated to current specifications.

• 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 2021 Tax Line Exports for ATX and TaxWise are available in this update.  
• The 2021 Tax Line Exports for Lacerte Tax and ProSeries Business Tax have been enabled
• These are a CASP feature only.
• Note:  2021 Tax Exports for ProServices fx and Axcess will be included in the next release.

Scheduled Updates

We will have an additional release in February, exact date is TBD.  It will include:

• a new requirement for Ohio W2 Efile. Ohio has extended their date for submitting until March 2nd
• the Prosystem fx and Axcess Tax Line Exports.

Tax Tip 2022-15: Taxpayers beware: Tax season is prime time for phone scams

With the new tax season starting this week, the IRS reminds taxpayers to be aware that criminals continue to make aggressive calls posing as IRS agents in hopes of stealing taxpayer money or personal information.

Here are some telltale signs of a tax scam along with actions taxpayers can take if they receive a scam call.

The IRS will never:

• Call to demand immediate payment using a specific payment method such as a prepaid debit card, gift card or wire transfer. Generally, the IRS will first mail a bill to any taxpayer who owes taxes.
• Threaten to immediately bring in local police or other law enforcement groups to have the taxpayer arrested for not paying.
• Demand that taxes be paid without giving taxpayers the opportunity to question or appeal the amount owed.
• Call unexpectedly about a tax refund.

Taxpayers who receive these phone calls should:

• Record the number and then hang up the phone immediately.
• Report the call to TIGTA using their IRS Impersonation Scam Reporting form or by calling 800-366-4484.
• Report the number to phishing@irs.gov and be sure to put "IRS Phone Scam" in the subject line.

More information:

• Tax Scams and Consumer Alerts
• Report Phishing and Online Scams

IR-2022-19: All third Economic Impact Payments issued

The Internal Revenue Service announced today that all third-round Economic Impact Payments have been issued and reminds people how to claim any remaining stimulus payment they’re entitled to on their 2021 income tax return as part of the 2021 Recovery Rebate Credit.

Parents of a child born in 2021 – or parents and guardians who added a new child to their family in 2021 – did not receive a third-round Economic Impact Payment for that child and may be eligible to receive up to $1,400 for the child by claiming the Recovery Rebate Credit.

While some third-round Economic Impact Payments may still be in the mail, the IRS is no longer issuing first-, second-, or third-round Economic Impact Payments.

Eligible parents of children born in 2021 and families that added dependents in 2021 should claim the 2021 Recovery Rebate Credit

Some families and individuals may not have received the full amount of their third-round Economic Impact Payment because their circumstances in 2021 were different than they were in 2020. These families and individuals may be eligible to receive more money by claiming the 2021 Recovery Rebate Credit on their 2021 income tax return:

Avoid processing delays when claiming the 2021 Recovery Rebate Credit

• To claim the 2021 Recovery Rebate Credit, individuals will need to know the total amount of their third-round Economic Impact Payment, including any Plus-Up Payments, they received.
• People can view the total amount of their third-round Economic Impact Payments through their individual Online Account. *Note:  The Get My Payment application will no longer be available as of Jan. 29, 2022
• The IRS will also send Letter 6475 through March to those who were issued third-round payments confirming the total amount for tax year 2021.

File electronically, and choose direct deposit 

The amount of the 2021 Recovery Rebate Credit will reduce the amount of tax owed for 2021, or, if it’s more than the tax owed, it will be included as part of the individual’s 2021 tax refund. Individuals will receive their 2021 Recovery Rebate Credit included in their refund after the 2021 tax return is processed.

Claim 2020 Recovery Rebate Credit for missing first- or second-round Economic Impact Payments

All first- and second-round Economic Impact Payments have been issued. People who didn't qualify for a first- and second- Economic Impact Payment or got less than the full amounts may be eligible to claim the 2020 Recovery Rebate Credit on a 2020 income tax return.

Read the full IRS News Release here:  IR-2022-19

Update - Current issue with TPG Submissions

We are continuing to work diligently with TPG regarding the issue with rejecting bank applications. You may receive the following codes when working with TPG:

01652: RT resubmittal cannot be processed, Advance decision complete
01655: RT rec can't be submitted after initial RL rec; RT in place for fund process
01801: Bank Product Record - Primary SSN field not found in tax return database
01894: Credit product requested after credit product cutoff date
01944: Invalid Tax Return ReturnTs
01972: Invalid Combination of IRS ACK Date, IRS Acc Code, ReturnTS, Adv

We are expecting resolution before end of day Friday, January 28, 2022.
At this time, no action is necessary. Please stay tuned and we will update once a resolution is complete.

Pro Tips - Video - Tax Law Changes Impacting 2021 Tax Returns

Tax Law Changes Impacting 2021 Tax Returns

Mark A. Luscombe, J.D., LL.M., CPA - Principal Tax Analyst for Wolters Kluwer Tax & Accounting, takes a look at the recent tax legislation changes that are affecting this year’s tax returns, including:

• Child Tax Credit and Advance Payments
• Economic Impact Payments and Recovery Rebate Credit
• Child and Dependent Care Credit
• Earned Income Tax Credit
• Premium Tax Credit
• Charitable Contribution Deductions
• Business Meals Deduction
• Cryptocurrency
• State and Local Tax Deduction Cap

Click here to watch the full video review.

#TaxSeasonReadiness

IRS News Release - IRS begins 2022 tax season; urges extra caution for taxpayers to file accurate tax returns electronically to speed refunds, avoid delays

IR-2022-18, January 24, 2022

WASHINGTON — The Internal Revenue Service today kicked off the 2022 tax filing season with an urgent reminder to taxpayers to take extra precautions this year to file an accurate tax return electronically to help speed refunds.

The start of this year's tax season – which takes place earlier than last year's February 12 opening – signals the IRS is now accepting and processing 2021 tax returns. More than 160 million individual tax returns for the 2021 tax year are expected to be filed, with most before the April 18 tax deadline.


See Full Story Here.

Welcome to Tax Season 2022!! Check out these quick links to help you get underway!

Monday January 24th, 2022, is the official opening day of IRS electronic filing. TaxWise would like to help you get underway this tax season by directing you to solutions for some of our most frequently asked questions.

Most E-File, Rejection and Validation errors can be fixed by searching our Knowledge Base for solutions? Please refer to the quick links below.

In addition to the Knowledge Base, TaxWise also offers chat support to help you get to the answers you need without having to pick up the phone! Chat is the easiest way to reset your password or check the status of an E-File.

Quick links:

• How do I reset my Password for TaxWise: Knowledge Base Solution - How do I reset the Admin password for TaxWise®?

• How to check the status of an E-File: Knowledge Base Solution - How do I check a return status on the TaxWise® support site?

• How to Correct Validation Errors: Knowledge Base Solution - How do I correct validation errors in TaxWise®?

• How to transmit e-files in TaxWise: Knowledge Base Solution - How do I create an Electronic File (e-file) in TaxWise®?

• How to add Credit Card or bank account: Knowledge Base Solution - How do I add a credit card or bank account to the wallet in My Account for ATX™ or TaxWise®?

• How to add EFIN for TaxWise: Knowledge Base Solution - How do I add or modify my Electronic Filing Identification Number (EFIN) in TaxWise® Solution Center?

• Can I stop an e-file after it has been transmitted?: Knowledge Base Solution - Can I stop an e-file after it has been transmitted?

Please remember the states and the IRS have just started processing and acknowledgements may be slow to process. 

If you have any questions, please contact customer support via any of these options:

1. Chat at SFS TaxWise Chat (cch.com)

2. Open a Support case at https://support.cch.com/

• Select the option that best describes your issue and complete all applicable information. Our support team will research your issue or question and contact you with an answer.

3. Phone at 866-641-9473.

Payroll Compliance Reporting (PCR) 21.1 is now available

  In this release the W-2 and 1099 mappings are updated to support the QuickBooks, Sage (Peachtree), and Client Accounting Suite imports for 2021.

• Note:  The 1099-NEC is unable to be imported from Sage (Peachtree).

The cost of PRS (Per Return System) returns has been updated to reflect the 2021 pricing of $13 per return.

Common tax return mistakes that can cost taxpayers

 Tax laws are complicated but the most common tax return errors are surprising simple. Many mistakes can be avoided by filing electronically. Tax software does the math, flags common errors and prompts taxpayers for missing information. It can also help taxpayers claim valuable credits and deductions.

Using a reputable tax preparer – including certified public accountants, enrolled agents or other knowledgeable tax professionals – can also help avoid errors.

• Filing too early. While taxpayers should not file late, they also should not file prematurely. People who don’t wait to file before they receive all the proper tax reporting documents risk making a mistake that may lead to a processing delay.
• Missing or inaccurate Social Security numbers. Each SSN on a tax return should appear exactly as printed on the Social Security card.
• Misspelled names. Likewise, a name listed on a tax return should match the name on that person's Social Security card.
• Entering information inaccurately. Wages, dividends, bank interest, and other income received and that was reported on an information return should be entered carefully. This includes any information needed to calculated credits and deductions.  Using tax software should help prevent math errors, but individuals should always review their tax return for accuracy.
• Incorrect filing status. Some taxpayers choose the wrong filing status. The Interactive Tax Assistant on IRS.gov can help taxpayers choose the correct status especially if more than one filing status applies. Tax software also helps prevent mistakes with filing status.  
• Math mistakes. Math errors are some of the most common mistakes. They range from simple addition and subtraction to more complex calculations. Taxpayers should always double check their math. Better yet, tax prep software does it automatically.  
• Figuring credits or deductions. Taxpayers can make mistakes figuring things like their earned income tax credit, child and dependent care credit, child tax credit, and recovery rebate credit. The Interactive Tax Assistant can help determine if a taxpayer is eligible for tax credits or deductions. Tax software will calculate these credits and deductions and include any required forms and schedules. Taxpayers should Double check where items appear on the final return before clicking the submit button.  
• Incorrect bank account numbers. Taxpayers who are due a refund should choose direct deposit. This is the fastest way for a taxpayer to get their money. However, taxpayers need to make sure they use the correct routing and account numbers on their tax return.  
• Unsigned forms. An unsigned tax return isn't valid. In most cases, both spouses must sign a joint return. Exceptions may apply for members of the armed forces or other taxpayers who have a valid power of attorney. Taxpayers can avoid this error by filing their return electronically and digitally signing it before sending it to the IRS. 

The IRS urges all taxpayers to file electronically and choose direct deposit to get their refund faster. .

Text messaging/SMS Multi-Factor Authentication (MFA) - Intermittent issues

On Friday, January 14, 2022, at 9:00 AM EST, due to a third-party issue, some customers may be receiving errors when using text messaging/SMS Multi-Factor Authentication (MFA) when attempting to log-in. Please try MFA by phone and/or email. If you are not able to access your applications after trying these options, please contact customer support.

Thank you for your patience as our team investigates.

IRS Updates - Scheduled Maintenance for the Modernized e-File (MeF) Production System

The MeF Production System, currently processing business returns only, will be unavailable on Saturday, January 15, 2022, from 7:00 a.m. through 5:00 p.m. Eastern time.

There will be no impact to TaxWise systems. Any Business Returns submitted will be sent to the IRS once the Scheduled Maintenance is complete.

Status updates on the scheduled maintenance are available from the IRS.

Tax Year 2021 Federal and State E-File Availability

The IRS will begin accepting e-file on Monday January 24^th, 2022.  

Modules to support the e-file are being  released regularly in preparation of  the tax filing season.  

The latest status on module availability by state can always be found at: 

https://support.taxwise.com/support/TWJurisdictionStatus

Client Accounting Suite/Premier version 21.2 is available

 The 21.2 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:

• 2021 Federal Forms update
• The 943 and 944 are included in this update
• ACA 1094-B, 1095-B, 1094-Cand 1095-C are included in this update.
• 2044 W4 is available in Blank Forms.
• The W-3c is updated in Blank Forms.
• 2022 Federal Withholding Rates
• The 2022 Federal withholding rates are included in this update.
• 2022 State Withholding Rates - The following state withholding calculations have been updated for 2022:

• Illinois
• Iowa
• Kentucky
• Main
• Michigan
• Minnesota
• Missouri
• Nebraska
• New Mexico
• North Carolina
• Oklahoma
• Rhode Island
• South Carolina
• Vermont
• Note:  As other states change their rates for 2022, 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 2022.

• 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.

Scheduled Updates

January 2022 - Client Accounting Suite 21.3 - 

• State Withholding and form updates
• The QuickBooks and Sage (Peachtree) 2022 imports.
• The ATX, TaxWise, and ProSystem fx 2021 Tax Eports

IRS opens for Individual Returns on January 24th

 The Internal Revenue Service announced that the nation's tax season will start on Monday, Jan. 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns.

 The January 24 start date for individual tax return filers will allow the IRS time over the course of the coming weeks to do additional programming and testing that is critical to ensure that IRS systems will run smoothly this filing season and will help taxpayers claim the remainder of their Child Tax Credit and remaining stimulus funds in a timely manner when filing their 2021 returns.

 The IRS anticipates that most taxpayers will receive their refund within 21 days of when they file electronically, barring any issues with processing their tax return. The IRS urges electronic filing to avoid delays in processing and to utilize information letters provided by the agency when filing their returns to avoid errors that can lead to delays. 

TY 2021 - 1040 e-filing date not yet announced by IRS

As information, the IRS has not yet announced the opening day for e-filing for Tax Year 2021. 

You can refer to the IRS newsroom website for the latest news; we'll also update you as soon as we receive the date.

IRS Acceptance of Business Tax Returns - Begins January 7th

 The IRS will begin accepting all business tax returns on January 7, 2022 at 9am ET.

TaxWise Desktop - Module Download - Update 4:00PM ET

On Tuesday, January 4, 2022, at 9:00 AM EST, some Taxwise Desktop customers reported that auto download of modules may not be working. At 2:52 PM EST, the Module Download issue was resolved. 

Modules are now available for download within TaxWise Desktop and the TaxWise Support Site.

Thank you for your patience.

Pre-Ack Update: TPG, Republic and Meta Bank - January 3rd, 7:30 PM

The TaxWise team has been working diligently to make Pre-Ack processing available.

We are happy to report, TPG and Republic are currently both processing. Meta Bank will be available to begin accepting submissions at 8:00AM ET on Tuesday, January 4th.

Pre-Acks Update - January 3rd - Updated 5:00PM ET

The TaxWise team continues to work make progress towards Pre-Ack availability for TPG and Meta Bank modules. We want to ensure our customers are updated with continued updates on our progress. 

Next update will be made later this evening, Monday, January 3rd.

TPG Pre-Acks - Update

TPG Update - We continue to work diligently together with TPG in making pre-acks processing available.

An update will follow Monday, January 3rd, AM ET.

TPG Pre Acks

 We continue to work together with TPG in making pre-acks available and will keep you apprised of our progress and let you know once they have started.