TaxCycle 12.2.50644.0—2023 T1 Module (Revised)

This release adds the 2023 T1/TP1 module with forms in preview mode, rates and calculations for 2023 personal tax returns.

To install this version immediately, download the full installer from our website or request a free trial. Once we enable the automatic update for this version, TaxCycle will prompt you to install it according to the priority set in your TaxCycle Options. (To deploy auto-update files from your network, see the Auto-Update Files page.)

Release Highlights

• 2023 T1/TP1 Preview Forms and Rates
• T1/TP1 Updates
• Client Manager Server Message
• Customer Requests
• Resolved Issues

2023 T1/TP1 Preview Rates and Forms

The new TaxCycle T1/TP1 2023 module includes forms in preview mode, rates and calculations for 2023 personal tax returns. Use this module for planning and evaluation purposes only.

The government forms you see in the TaxCycle T1/TP1 2023 module are the 2022 forms. The amounts and rates are those already announced or that we have estimated based on information we have at this time, as well as those announced in the federal and provincial/territorial 2023 budgets.

What you need to know:

• You can carry forward 2022 T1/TP1 returns from TaxCycle, ProFile^®, Taxprep^® and DT Max^®. All carry forward conversions are currently under review and will be updated before the next tax season. We do not recommend batch carryforward at this time.
• Files you create now will continue to work after the module receives certification from the CRA. EFILE is not available for 2023 tax returns until February 2024.
• The CRA has not yet certified TaxCycle T1/TP1 2023 for electronic or paper filing. However, you may use it to prepare and file a deceased taxpayer’s 2023 return.
• All forms show a Preview watermark on screen and when printing, except those used for authorization and some summaries.
• If you have already purchased a 2023 TaxCycle license, you may enter a date of death in 2023, or a date of bankruptcy in 2023 and select pre-bankruptcy as the type, to remove the Preview watermark from forms. This allows you to print and paper file the T1Condensed (the bar code will not show on the form) before we release a filing version next December or January if you need to.

To learn how to create planning files, review the following help topics:

• T1 Planner Worksheet
• Carry Forward and Plan
• T1 Planning and Training Files

T1/TP1 Updates

• Added a Quick Fix review message to the T5008SlipSummary to allow TaxCycle to complete all spousal percentage fields automatically. This option is off by default, so you must activate it in T1/TP1 Options first.
• Added a new question to the Filing section of the Info worksheet to track whether filing a UHT-2900 return is required. Answering Yes to this question adds a new paragraph in the client letter (CLetter) to communicate the filing obligation and deadline.

Client Manager Server Message

• Added the option to turn off server warning messages on start-up in TaxCycle Options. If TaxCycle incorrectly displays a warning message that the Client Manager server is unreachable or has stopped for any reason, you can uncheck the box to Show server warning messages on start-up on the Client Manager page in TaxCycle Options:

Customer Requests

• T2—Added the buttons on the Data menu to Create a T4 or T5 file from a file open in the latest T2 module (.2023T2).
• Customer Reported Resolved an issue where TaxCycle was resetting the Start screen sidebar between version updates. TaxCycle now correctly remembers your window and sidebar placement choices after each update.

Resolved Issues

• Known Issue: T2 T1135 EFILE Error "Unsupported currency: JP"