The Canada Revenue Agency (CRA) has certified TaxCycle T1 for filing 2020 returns when EFILE systems open on Monday, February 22, 2021.
On February 22, 2021, we released an update with the following changes since version 10.1.42284.0:
The Canada Revenue Agency (CRA) has certified TaxCycle T1 2020 for electronic filing when the systems reopen on February 22, 2021. As of that date, you can use TaxCycle T1 to access the following electronic services:
AuthRep Authorization/Cancellation Request (formerly T1013) from TaxCycle T1 2019 and 2020 became available on February 8, 2021.
Form T2203 Provincial and Territorial Taxes for Multiple Jurisdictions remains in progress and shows a Preview watermark. Returns for clients subject to tax in multiple jurisdictions are therefore currently excluded from EFILE. We will remove this exclusion in an upcoming release.
All other T1 forms are final.
The CRA has new requirements when collecting electronic signatures on T183 forms. The form must report the date and time the form was electronically signed. This information is then transmitted to the CRA through T1 EFILE.
If you use TaxFolder or DocuSign®, TaxCycle automatically records the date and time. However, if you use a different service for e-signatures, you must enter the date when the signature is confirmed before transmitting the return. To do this:
The CRA has discontinued the option that allowed clients to authorize you to represent them for that particular return, either by phone or by email.
Instead, you can set an expiry date for the pre- or post-assessment review contact, after which the CRA will contact the client. The field to set an expiry date appears on the Info worksheet when you select Contact Preparer as either the pre- or post-assessment review contact.
Also note that this authorization does not allow you to access client information with CRA over the telephone.
Revenu Québec has approved TaxCycle T1/TP1 2020. You can now use TaxCycle to file 2017, 2018, 2019 and 2020 TP1 returns. To learn how to file TP1 returns from TaxCycle, review the TP1 NetFile Québec help topic. You may also file adjustments to TP1 2019 and 2020 returns. See the TP1 NetFile for Adjusted Returns help topic.
You may also use Tax Data Download (TDD) to retrieve client data from Revenu Québec for 2018, 2019 and 2020. To learn how to download tax data from Revenu Québec, read the Québec Tax Data Download (TDD) help topic.
This version includes Schedule H (TPHWS) and form TP-1029.8.61.64, Tax credit for caregivers.
Please refer to the TP1 guide (TP-1.G-V) for more information about eligible care receivers and the credit.
The AT4930 form has been updated to the December 2020 version.
TaxFolder is now ready to use! If you have a TaxFolder license, you can send signature requests and ask your clients to upload documents directly from TaxCycle.
On the TaxCycle website, you will find help topics with detailed instructions for tax preparers using TaxFolder along with instructions and videos to share with your clients. See the TaxFolder help topics.
Preparers who signed up for TaxFolder will receive an email with instructions on how to start using it in their firms. Please read this email thoroughly and follow the instructions carefully. If additional assistance is required, contact TaxCycle support.
We strongly encourage everyone using TaxFolder to set up two-factor authentication on their TaxCycle Account. Two-factor authentication—or 2FA—provides an extra layer of protection for your TaxCycle Account and TaxFolder client data. When you sign in, you confirm your identity through an authenticator app on your mobile phone or by receiving a unique code via text message or phone call. This additional step protects your clients and firm from unauthorized access to confidential documents.
For step-by-step instructions on configuring and using two-factor authentication, see the Two-Factor Authentication (2FA) help topics.