In the next couple of weeks, we'll release an update to TaxCycle T2 that will extend our CRA certification of corporate returns up until the end of April 2015. (Current certification runs for returns with year ends up until October 31, 2014.)
Until we release this update, you may see an warning message if you start preparing a return that falls outside of the certification period, but this does not mean you need to renew your TaxCycle T2 license.
"End dates past 2014-10-31 not supported" and "Tax year end date cannot end after 2014/10/31" messages
If you enter year start and end dates in a T2 and the year end falls after the CRA certification period, you will see a message on the TaxCycle start screen and/or on the year end date field on the Info worksheet.
This means the corporate year falls outside of the dates for which TaxCycle T2 is certified to file returns with the CRA (and other provincial government authorities).
It is most common to see these messages when there is a gap between the certification period and an updated version of TaxCycle T2 software (like there is right now).
If you see these message, you can continue creating the return and entering data. TaxCycle will use pro-forma calculations and rates.
In all likelihood the filing deadline for the return is still around 5-6 months away. Keep an eye out for a TaxCycle T2 software update that extends the certification and be sure to install it when it comes out. Then, you'll have the latest forms and calculations and you can file the return.
Does this mean I need my TaxCycle T2 license has expired?
Most likely not. Your TaxCycle license period is based on a completely different date.
Licenses purchased now are valid until the end of 2015, so if you bought in the last little while, all you have to do is wait for a software update.
You can check to see when your license expires by going to the File menu and then clicking on Help. The date appears in the list of installed products. (See screen capture below.)
During your license period, you get free updates to TaxCycle T2. This includes updates that extend the T2 certification. Usually, the certification is extend twice a year, around the October/November, and again in the May/June time frame. It's around these times that you're more likely to see the above warning messages.