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New Video: Prior Year Returns

If you need to prepare multiple years of returns, in TaxCycle, you do not have to start with the earliest return and move forward. You can start with the current return and move back if you wish.

Video
Taxcyclebanner Training 848X500 (1)
Session information now available

This one-day TaxCycle conference has something for every tax preparer, whether you're new to TaxCycle or an experienced user.

TaxCycle Training
TaxCycle 9.2.40541.0—2020 Forms Module

This release rolls over the Forms module to 2020, and updates calculations and templates in other modules.

release notes
RESOLVED: T2 return, lines 460, 465 and 480 from page 7

Amounts in lines 460, 465 and 480 from page 7 of the T2 return are not being submitted to the CRA or included in the T2 barcode printout.

DoxCycle 9.0.40243.0—Link with 2020 TaxCycle Returns

This DoxCycle release adds support for creating files linked with 2020 TaxCycle returns.

release notes DoxCycle
Look What You've Done for TaxCycle This Year

Many of the enhancements to TaxCycle over the past year were inspired by your suggestions and feedback.

Revenu Québec extends electronic signatures until further notice

RQ has announced that electronic signatures have been extended until further notice for forms MR-69, TP-1000.TE, CO-1000.TE and TP-64.3

End of Support for IE11 for QuickBooks Authorization

Starting September 8, 2020, you must use a browser other than IE11 when signing in to connect TaxCycle with QuickBoooks® Online.

Electronic signatures for the T183/T183CORP

The CRA will continue to recognize a T183 and T183CORP that contains an electronic signature as having met the signature requirements of the ITA as a temporary administrative measure for the remainder of the filing season.

Canada Emergency Wage Subsidy (CEWS 2.0) Estimator

Video Tax News recently announced the launch of the CEWS 2.0 Estimator. Created in partnership with Punchcard systems and the COVIDcontinuity.com volunteer project.

TaxCycle 9.2.39956.0—2020 T5013

This release rolls over the T5013 module to 2020 for early data entry. It also includes other requests and fixes.

release notes
RESOLVED: 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
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
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