A Year in Review: What Was New to TaxCycle in 2018-19

The 2018-19 TaxCycle year was chock full of new tax content and features for Canadian preparers. More Canadian tax preparers than ever switched to TaxCycle. Thank you for your support!

Many of those enhancements were based on your suggestions. Some came from protaxcommunity.com, some from webinars, some through support requests. All helped shape TaxCycle into the best software it can be. In case you didn't read each set of release notes in detail, scroll down for the long list of the year in review.

Time-saving features

• Form section navigator at the bottom of the Prepare sidebar. Watch [2m46s] of the What's New in TaxCycle presentation recorded at our fall online conference.
• Right-click on a form and choose a section heading from the menu to jump to that part of the form.
• Copy the client SIN by clicking on the number in the taxpayer menu in the sidebar.

• Right-click on a form tab and choose to Close all forms but the visible form.
• Right-click on a tab of an open form and select Save current tabs as review tabs, along with right-click on the tab and select Open review tabs to display those forms.

• Print as appears on screen print option.
• Calculator/Tape floating point mode. Press the F button to enter this mode.
• In the Tools menu, bookmarks to the Revenu Québec website and Mon Dossier pages.

Workflow

• Completing workflow tasks upon printing.
• Workflow groups and tasks to track return delivery: Client collected, Emailed, Mailed, and Couriered (including a place to enter the tracking number).
• Friends or family member workflow task allows to exclude friends and family returns from reports in the Client Manager. (Disabled by default.)

Client Manager

• Search on the last three digits of a client's social insurance number, business number or other account number.
• A new filter under the Taxpayer group to filter T1 returns that have self-employed income.
• Splitting out filters under Return type into two new collapsible sections in the Quick Searches sidebar: Files and Taxpayer.

T1 enhancements

• 5-year summary of provincial tax and credits (428 5YearSummary).
• Two-year comparative summaries for income statements: T776, T2125, T2121, T2042, T1273 and T1163.
• Short version of the 5 Year Summary.
• Smart Copy and Paste details from a T2042 into an AgriStability statement.
• Type of bankruptcy return appears in parentheses next to the client name at the top of the jacket and schedules, on screen and when printing.

• Worksheet for calculating late-filing interest and penalties expected from the Canada Revenue Agency and/or Revenu Québec.
• Dependant (Dep) worksheet displays the dependant's age as of December 31st.
• Searching for T5006 in F4 Fast Find brings up the Credits worksheet.
• Improved rules for handling unused tuition and education amounts when a taxpayer moves from one province to another during the year.
• Inclusion of the amount from line 19 of the SPP Contributions section on the RRSP worksheet in the Unused RRSP, PRPP or SPP contributions on the Carry Forward Summary.
• Quick Fix review message was added to the Net Capital Loss worksheet to use the number from Auto-fill my return (AFR) for the Year 2000 inclusion rate.
• Warning to indicate T777WS that an employee was a commission-paid employee when there is an amount in box 42 on the T4 slip.
• Suggestion when RC267, RC268 and RC269 are all completed to prevent claiming multiple adjustments on line 206.
• Foreign property question no longer required when preparing a return for non-residents.
• Automatic calculation of boxes 10, 20, and 30 on the T5013 data entry slip.
• Asset Summary for the AgriStability/AgriInvest statements.
• Industry codes 155110 (Support activities for crop production) and 115210 (Support activities for animal production) added to the T2125.
• Line items on the T1 billing worksheet display in the taxpayer's language of correspondence.

TP1 enhancements

• TP1 5-year summary.
• TP1 2-year comparative summary.
• TP1 one-page summary of the return (TP1Summary).
• Automatic creation of an As-Filed upon transmission of a TP1 return to Revenu Québec.
• On the RPP worksheet, when Québec applies, the layout changes to display two columns—one for federal and one for Québec—to handle the annual limit difference.
• Boxes D, J, D-2, D-3, 201 and 211 added to the RL-1 section on the T4A slip. The D boxes are linked to boxes 32, 126 and 162 on the T4A, and feed into the RPP worksheet.
• Limitation F added to the Medical worksheet for data entry of expenses only allowed as a credit in Québec, such as naturopath and osteopath.
• Calculation of the Québec parental insurance plan (QPIP) on Schedule 10 and the TP1 Schedule R adjusted to calculate an amount when there is a small amount of self-employment income.

T2, CO-17 and AT1 enhancements

• CRA T2 Pre-validation service.
• Electronically filing of amended AT1 returns.
• CO-17 online filing with clicSÉQUR.
• Review message on Schedule 7 for when the row in Part 3, Table 1 is for a designated partner—using the check box in column A—and columns 300, 310, 315, 325 or 330 contain an amount.
• Question on the T2 FederalInstalments worksheet permitting calculation of the previous year tax credits column based on the tax return you are working on.
• Yes/No question at the bottom of the Instalment base calculation chart on the FederalInstalments worksheet permitting the calculation of instalments even when the base is less than $3,000.
• Review optional message when T2 instalment worksheet is set to a quarterly remittance frequency.
• Carry forward of the corporation name, tax year end and business number in the Specified Corporate Income (SCI) table on page 4 of the T2 jacket.
• Carry forward of explanations and amount of the difference on S8RecWS.
• Carry forward of share details from Schedule 19.
• Project number at the top right corner of Schedule 60 (Part 2 of the T661).

T3 enhancements

• Carryforward of T3 allocation methods from one year to the next.
• T3 Optimizations.
• Multiple-jurisdiction forms and calculations.
• 2-year and 5-year variance summaries for Québec TP-646 trust returns.
• Review message when it is the 20th or 21st year of the trust as a reminder in planning for deemed dispositions of capital assets.

T5013

• Improved handling of amounts allocated to limited partners in the Partnership Income Reconciliation section on the S1WS.
• Column on the T5013Partner for calculating the line variances between amounts allocated on the slips and the total amount reported by the partnership.
• Workflow tasks for tracking the filing of amended T5013 returns and slips in the Rework group.
• Four decimal places permitted in the units fields on the Allocation worksheet.
• Check box on the Info worksheet to Use T5013 ACB amounts for RL-15 slips.
• Question on the 2019 S1Allocation worksheet to allow disabling of the automatic allocation of slip variances to the last partner slip.
• Expandable tables for the adjustment lines in the Adjusted cost base (ACB) and At risk amount sections on the T5013Partner and RL15Partner.
• Rounded amounts on the GIFI schedules S100, S125, S140 and S141.

T3010

• RC59 Business Consent for Offline Access
• RC59X Cancel Business Consent or Delegated Authority

Slips

• Check box to Create T2200s from T4 slips.
• Enhanced slip import from Excel® for T4, T3, T5, T5013.
• Check box on the T4 data entry slip to Ignore adjustments for a specific slip.
• Carry forward T4A-NR slip data from ProFile® FX into TaxCycle NR4 2018.

New Québec and French tax content

• Québec Tax Data Download of TP1 data.
• TP-600/RL-15 Québec partnership returns and slips.
• TP-985.22 Information Return for Registered Charities and Other Donees.
• RL-31 Information about a leased dwelling.
• TaxCycle Forms translated to French.

New forms in TaxCycle Forms

• GST190 New Housing Rebate Application for Houses Purchased from a Builder
• GST191 New Housing Rebate Application for Owner-Built Houses
• GST524 New Residential Rental Property Rebate Application
• GST525 Supplement to the New Residential Rental Property Rebate Application—Co-op and Multiple Units
• NR95 Authorizing or Cancelling a Representative for a Non-Resident Tax Account
• RC4288 Request for Taxpayer Relief—Cancel or Waive Penalties or Interest
• FIN146 BC Authorization or Cancellation of a Representative (replaces FIN571 which is no longer in use)

Templates

• Salutation snippets for customizing the way a letter is addressed and the salutation to the recipient without cloning and customizing a built-in letter.
• Support for traditional date format masks when specifying a file name for a PDF in print settings or when formatting dates in a template.
• Access to more workflow task details in templates.
• T1 client letters include a section for the Climate Action Initiative (CAI).
• T1 client letters report if there is an outstanding debt on record with the CRA. This information appears on the Client Data Enquiry (CDE) worksheet after downloading from Auto-fill my return (AFR).
• T1 client letters include a section on the delivery of the client's notice of assessment.
• T1 client letters include wording for overdue returns.
• T1 client letters include the CPT20 and CPT30 in the list of forms requiring a signature when paper filing, when applicable.
• T1 client letters no longer suggest that a person can defer receiving Old Age Security (OAS) by not applying for it.
• T1 client letters include a section on the Québec Prescription Drug Insurance Plan when applicable.
• T1 client letters include TP-348 moving expenses claim when applicable.
• T1 client letters suggest additional payment methods: CRA My Payment and Canada Post.
• T1 engagement letter addressed to the legal representative of the estate of a taxpayer who died during the year (DELetter).
• T1 pre-season and post-season letters display items requesting the rent, property tax, utility and long-term care receipts to aid in applying for the
  Ontario Trillium benefits.
• T2 client letter includes status of RC59 and RC59X electronic filing options.
• T3 client letter handles T3RET eligibility and status.

DoxCycle features

• Custom stamps to the Quick Access Toolbar.