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RESOLVED: Error Importing AFR Tuition Data
We discovered an issue where importing Auto-fill my return (AFR) data containing tuition information causes an error in TaxCycle.
RESOLVED: Québec TPC Lines 42, 44, 46
A calculation change made the amounts on lines 42, 44 and 46 of Québec TP1 Schedule C (TPC) higher than they should be.
RESOLVED: Transferring Donations Between Spouses
Issue with transferring donation amounts between spouses in coupled returns in TaxCycle T1 2019.
An Update on Our Response to COVID-19
We want to reassure you that TaxCycle has a continuity plan to support your business during this time.
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.
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.
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.
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Updated: 2020-04-07
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.
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%.
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.