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New 10% Temporary Wage Subsidy Self-identification Form for Employers

The CRA has released a new form for self-identifying as an employer claiming the wage subsidy, the PD27. We will include this form in TaxCycle T4 in an upcoming release.

CRA COVID-19
Known Issue: AT1 Schedule 1, SBD Rate Should Be 0.06 as of July 1, 2020

In TaxCycle T2, on the Alberta AT1 Schedule 1, the small business deduction rate should be 0.06 effective July 1, 2020.

known issue
Taxcycle Summer Sale 847
The Lowest TaxCycle Price Of The Year

Our summer sale is on now. Buy next season's tax software at our lowest prices. Save up to $200 on the TaxCycle Suite and get a no-fee monthly payment plan.

TaxCycle Sale
TaxCycle 9.2.39684.0—Major T2 Update

Supports filing T2 and AT1 returns for tax year ends up to October 31, 2020. Includes a preview of 2020 T1/TP1 and rollover of T3/TP-646, NR4 and RL to 2020.

release notes t2
RESOLVED: T106, T1134 and T1135 Transmission Error Code 400

Transmission of forms T106, T1134 and T1135 from the latest TaxCycle T2 modules returns the error code 400.

known issue
RESOLVED: T2 Net Capital Loss Carryforward Not Claimed

In versions 9.2.39507 and 9.2.39565, TaxCycle T2 does not claim a net capital loss carryforward on line 332 of the T2 return when there is a taxable capital gain in the current tax year.

known issue
RESOLVED: clicSÉQUR Transmission Error Code 13965

Transmitting CO-17 return using clicSÉQUR from TaxCycle version 9.1.38833.0 and above produces error code 13965.

known issue CO-17 clicSÉQUR
RESOLVED: CO-17 QC21 Not Calculating

We have discovered an issue where TaxCycle T2 does not calculate Québec CO-17 Schedule 21 (QC21) when the federal Schedule 21 (T2SCH21) is completed.

known issue t2 CO-17
RESOLVED: T3 Schedule 8 Line 8120 Not Submitted to CRA

Line 8120 from Schedule 8 in TaxCycle T3 is not transmitted to the Canada Revenue Agency (CRA) when there are no amounts on lines 8110, 8160, 8170, 8180 or 8190.

known issue t3
TaxCycle 9.1.39221.0—Automatic Update

DocuSign® electronic signatures on T1032 and T1255. Changes requested by TaxCycle customers.

release notes
UPDATED: EFILE Error 92271

The Canada Revenue Agency (CRA) has investigated EFILE error 92271 and has determined a change made in early May cause certain returns that were previously accepted to now be rejected.

RESOLVED: Calculation Error on Form NU479

The CRA recently learned that there was an minor error in the calculation of the Nunavut cost of living supplement for single parents.

known issue
Extended Filing Deadlines for Corporations and Trusts

The CRA, RQ and the Govt of Alberta have extended some filing deadlines for corporations and trusts to September 1, 2020.

CRA COVID-19
RESOLVED: CO-17 transmission error code 13965

Known Issue. CO-17 error code 13965 due to incorrect service version number.

known issue
CRA Delays T2 AGRI EFILE System Update

File returns with tax year ends after December 31, 2018 on paper until TaxCycle T2 updated in Dec. 2020.

CRA AgriStability EFILE
TaxCycle 9.1.38833.0—CO-17 Update. 2020 T4, T5 and T5018

Enhanced slips summaries. Guaranteed income supplement (GIS) worksheet. NetFile of adjusted TP1 returns.

release notes
A new look for www.taxcycle.com

We've launched a new design for our website at www.taxcycle.com. We hope you like it!

RESOLVED: T1032 line 68040 overstated

The calculation of line 68040 (transfer to spouse) on form T1032 (Joint Election to Split Pension Income) was not accounting for box 109.

known issue
CRA COVID-19: Already filed paper returns

As of April 20, 2020 the Canada Revenu Agency (CRA) will allow the transmission of a return even if it has already been mailed to CRA on paper, as long as it has not yet been processed.

TaxCycle 9.1.38571.0—E-Signatures on Québec MR-69

This update adds the electronic signatures for the Québec MR-69 form and resolved issues reported since the prior version.

release notes
TaxCycle 9.1.38552.0—Electronic Signatures

This release adds the ability to send documents to your clients for electronic signatures using DocuSign and Adobe Reader.

release notes
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Video Tax News: COVID-19 Updates and Resources

Our friends at Video Tax News have published a useful list of links to COVID-19 resources and updates specifically for accounting professionals.

Docusign Logo Black Text On White
Save 20% on a DocuSign® Annual Plan

TaxCycle users save 20% when they purchase an annual plan before May 31, 2020 through this page.

DocuSign
RESOLVED: Incorrect calculation on the T4PS

We discovered that a calculation on the T4PS is incorrect. The gross-up percentage calculates at a rate of 16% rather than 15%.

known issue
RESOLVED: Net Capital Loss on Québec CO-1012

TaxCycle incorrectly calculates the Net Capital Loss at line 10 (in column C) using the gross amount (100%) rather than the 50% inclusion rate.

known issue
Randy Tebbutt 2019
Randy, We Will Miss You

Randy Tebbutt 1964 – 2020. It is with great sadness we share with you that one of our own passed suddenly this week.

CRA Extends Filing and Payment Due Dates

The Canada Revenue Agency will defer the filing due date for the 2019 tax returns of individuals, including certain trusts.

TaxCycle 9.1.38268.0—Extension to T1/TP1 Due Dates

This release adds updates T1 and TP1 payment and filing due date extensions.

release notes
Revenu Québec Extends Filing and Payment Due Dates

Revenu Québec has introduced flexibility measures for individuals and businesses affected by the COVID-19 situation. A summary appears below.