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Why does my T2 file name have the wrong year?


Every now and then, a customer asks us about TaxCycle T2 file names and why they sometimes don't match the corporation's year end. When we get this question, there are usually a few things going on.

A file name extension is different than a file name

This question often comes up because someone saw the year in a file name extension.

A file name extension are the letters and numbers that appear after the dot in the file name. We all got really used to seeing these for files from Microsoft® Excel (.xls) or Word (.doc). 

TaxCycle T2 file name extensionsYour operating system—Windows®—uses the extensions to relate a file to a particular software program, so that when you double-click on them, the right program opens.

File name extensions always used to be 3 characters long. But in recent years, they can be longer than that. For example, our current TaxCycle T2 file name extensions, highlighted in yellow in the screen capture on the right.

In recent years, Windows® hides these extensions from view unless you explicitly turn on the option to see them. (This also helps prevent accidental changes to the extension.) So, it's quite possible to never have noticed how file extensions have grown and changed.

In TaxCycle, we usually show the file name extension

When it comes to TaxCycle, we usually show the file name extension. You can see it in the top menu bar of the program (first screen capture, below), and in the Client Manager (second screen capture, below). So, it is entirely possible that you'll notice the extensions there.

TaxCycle T2 file name extension in the TaxCycle menu bar

TaxCycle T2 file name extension in the Client Manager

TaxCycle T2 extensions don't match the tax year 

Usually the TaxCycle file name extension matches the year of the tax return module that you are creating. In TaxCycle T1, returns prepared for the 2013 tax year have the extension 2013T1. 

This gets a little tricky when it comes to the T2 modules. T2 modules are certified based on what corporate year-ends you can prepare, and these often include more than one calendar year, and they often overlap. 

This makes our job of choosing a unique extension tricky. We have chosen to use the year that the module was first released, as we usually only release a new T2 module once a year.

Take a look at the list below which compares the T2 file name extensions those from the T1 modules.

Module

Tax Year(s)

File Name Extension

TaxCycle T1  2014 .2014T1
TaxCycle T1 2013 .2013T1
TaxCycle T1 2012 .2012T1
TaxCycle T2 2012-2014 .2014T2
TaxCycle T2 2011-2014 .2013T2

And, don't be concerned if you're preparing a 2012 return, but it shows up with the .2014T2 or .2013T2 file name extension. TaxCycle T2 chooses the best module for the corporation's year-end. So, while some of the modules overlap support for similar years, it will choose the best year for filing your return.

The moral of the story?

If you see a year that appears after the dot in the file name, it is a file name extension. Don't worry too much about this date.

And, if you want to see the full corporate year end date in the name of the return, you can control that too. Check out TaxCycle Options, expand the section for T2 and then click on the file naming page.

TaxCycle T2 file naming options


 

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