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1. Totals 50 Oo D Sort Insert Row Delete Row Remove Close Enter Interest Description 2 Click the Dividends grid button on line 6 Enter the Dividend Income Description of Amazon com Stock Press the Tab key to move to column 1a and enter 150 as the Total Ordinary Dividends Press the Tab key to move to column 1b Notice that the 150 automatically appears in column 1b This is to help eliminate keystrokes as most ordinary dividends are also qualified dividends Column 1b can be changed if necessary Click Close to return to the 1065 page 3 input screen lt screen gt tut14 tif EE Dividend Income Grid Hame BSD Fle Edt Tock Help A 1a Total 1b Qusihed US Govt Total Hauri 248 Total __Dividend income Crscaption Ouinay Dividends Boh Bond CaptalGare Amazan com Stock 150 150 HE Bowel m lon e a a Tolak 150 150 i i Sort nett Flow Delete Rom Remove Close 3 We will create a Detail Statement for the contributions for line 13 Click Tx the line 13a Cash contributions 50 input field then click the Detail button on the button bar or right click and select Detail Statement Enter the descriptions as United Way and American Cancer Society on separate lines Enter the amounts as 300 and 350 respectively Close the grid Right click on the output form to view the full form Verify that line 13a shows the total contributions of 650 lt screen gt tut15 tif A Detail St
2. lt screen gt security7 tif a AMID Client Selection individual perese Mode Eye Rm New Cies FrdtylaNes SECURES per ama in ames tg0 tram me j me sa seo Cony iaehavten Aerceole iLiyslriaal Chovenload Tagh Nyaa thinganiorn Gel Pues Dahch Piiicmes NOTE Click padlock to hide display of secure folder clients NOTE If you forget the secure folder keycode select Workbench Security Enter the Master Password and click OK Select the Keycodes tab to view a list of secure folders and associated keycodes The Master Password holder has access to all keycodes Management Security A Click Management on the button bar If you have restricted access to Management you must provide the Master Password before entry is allowed B Clients in secure folders will not automatically appear To view secured clients select Secured Clients A list of secure folders will appear Enter the associated Keycode s or Master Password and click OK Secured clients will appear with other clients if you did not secure this feature under Security Preferences Forgot Password Change Master Password A If you forget the Master Password select Workbench Security B Click the Forgot button C You will be asked to answer the question you selected when you set up security If you are able to answer the question you will be allowed to enter a New Master Password Re enter the password to ensure you have entered it
3. sign next to Paper Filing and highlight Template The template can be used as a Starting point and modified to meet your needs 3a Click the Copy icon from the tool bar at the top of the screen A message will appear stating Please input a name for your copied letter Give the letter the name Sample and click OK The template will be copied to the new Sample letter Sample will be listed in the letters column 3b You can also copy the template by clicking New Letter A message will appear stating Please input a name for your new letter Name the letter Sample and click OK You will be prompted to select Copy Letter or Blank Letter By selecting Copy Letter you can use the drop down box to select the Template or other existing Custom letters Check the system you want to copy the letter to Click OK The template will be copied to the new Sample letter Sample will be listed in the Letters column NOTE Template letters cannot be modified They must be copied and named before changes can be made 4 lf the Sample letter is not expanded click the plus sign next to Sample This will expand the tree allowing you to view a list of sections that may be included in the letter based on return facts 5 To make a change to the letter highlight the appropriate section To test this feature let s use the Footer section Click Footer Text from the Footer section will appear Place the cursor behind the word call On the le
4. Enter the User Name setup by your Administrator and enter the word password all lowercase as your password 3c Click the Log In button NOTE For security reasons we recommend that you create unique user names for each individual in your office who will access the E File Center Reference steps 8 through 14 for details TIP If you check the box Remember my login information on this computer anyone using this computer will have access to the E File Center as password verification will be bypassed 4 A screen will appear which will require you to create a unique User Name and Password E http test filingctr net ManagePasswords Microsoft Internet Explorer i m Reset Password Leave blank if you wish to keep your existing password Password must be at least 6 characters but cannot exceed 15 characters Password must have at least one number or symbol and one character new password verify password E Mail Address Please provide a valid e mail address where your user name password will be sent if you forget them E mail cole nielson netzero cam Verify E mail ole nielson netzero com Security Question Please provide an answer to one of the security questions Question pet s pame SEAS y Answer Sparky Internet 4a Administrator Enter your First Name Last Name and User Name Enter a new password and verify it 4b User Your First Name Last Na
5. er a a a a Pi Pedea fe T i i TH WMI TT d iie en E Bied Foma fas z D Beas Foam Ba lat ORR m Step 20 State Instructions The AbleBaker Bookstore also operates a store in Washington D C The partnership is required to file a Washington D C Partnership Return of Income A Click the State button on the button bar It should have the Maryland State flag on it since Maryland was entered as the incorporation state on the Federal General Information input screen B Click the States button C Notice that Maryland is already entered as the resident organization or incorporation state lt screen gt tut23 tif States to Process and Pup Codes State Pup Code Suppress ER aae File Incop MD w ACCESS E N 2 E E 3 E E 4 E 5 El ja 6 E a 7 gi E 8 Ej B g T E 10 T 11 E E 12 a v Pup History Get Pupfs Help Remove Close esc D Select DC from the drop down box as the 2 state Then click the Close button E Click the down arrow on the State drop down box located on the Forms Pane Select DC from the list of states F The state information will carry directly from the federal inputs If you would like to override any values you may do so now Step 21 Review the Return Now let s review the return The program will produce Form 1065 pages 1 through 4 Schedules K 1 for Frank and Susan a Two Year Comparison Financial Statements Form 4562 and a Det
6. x correctly Click OK You will be prompted with a message noting the Master Password was changed Please note that when you change the Master Password all keycodes for secure folders will change also D Use this option if you want to change your Master Password lt screer gt security8 tif amp Security Login The Master Password is required before viewing or changing security settings Enter Master Password Security settings last saved by User2 Forgot OK Cancel Help NOTE If you forget both the Master Password and the answer to your question you must call support for assistance Client Status Client status is used for in house tracking purposes You can track and view the progress of a client s return and note any comments g Status Status To change the status for one client click Status on the button bar while in the client s return Click the drop down arrow and select the new status The Date and ID fields will auto fill Or from the Client Selection screen highlight the client and right click Select Change Status and then the new status To review the status log from this location select Status Dialog To create a custom status from the Status screen click the Settings button Enter the custom status and click Add The custom status will appear on the screen and will be added to the drop down box ei The status Updated is set during the update process The status In Progress
7. Fonn E Areni A yea G baii Foo H hed of ocouning Tate Caen O SCHA Sch aes Appia E yes O 6631 Fern 8611 Other Be ee rae on iT Fim Bi zzi D Eni Fon CEE PH Bure of is eet D EAF Foe GE PD Ferra m LLE banner myag ies neuer an OD ES Fo B25 FS pony item Gd neta in he ee vai O OTR Othe Fenda O BSE Fo BE Type ol Partnership o Dorme rera erent dei andy piran drid ia reri B The partnership is a calendar year partnership The Fiscal Short Year is not applicable for this return C The business activity for AbleBaker Bookstore is retail Highlight the Business Activity input field A down arrow will appear to indicate that this field is a drop down menu Click on the down arrow and a listing of the principal business activities will appear in a tree format based on the North American Industry Classification System in the IRS form instructions Find Retail Trade and click on the plus sign to expand the tree A more detailed listing will appear Look for Bookstores and click on the activity The program will insert the Principal Business Activity as Retail Trade the Principal Product or service as Bookstores and the Business Code Number as 451211 D Enter the date the business started as 10 01 79 E The Method of Accounting is Accrual Step 6 Preparer Options We will now go to the Preparer Options screen indicated in the Forms Pane as PO Options Frank and Susan want to produce financial statements in
8. 17 The Routing Number column will auto fill if the routing number related to the Financial Institution was entered previously If necessary enter the routing number 18 Enter the Depositor Account Number if you did not check the Same as Federal column 19 In the Account Type column click the dropdown arrow and select Checking or Savings if you did not check the Same as Federal column 20 Determine if the client will receive a refund or owe taxes In the DD EFW column click the dropdown arrow and highlight DD for direct deposit EFW for electronic funds withdrawal or leave blank for zero payment refund When the return is reviewed if adjustments need to be made to this column a related audit will appear 21 If the client participates in EFW the withdrawal date will default to April 15 If you want to Override Withdrawal Date enter desired date If the return is e filed after April 15 the program will default to the date the return is entered IRS will debit the account on the first business day following IRS acceptance K 22 If the client participates in EFW the Payment Override will default to total tax due This will not appear in the column as return input may not be complete Only enter amount if client wants a portion of the tax due to be withdrawn 23 Click Close 24 If the client participates in EFW a day time phone number is required Verify taxpayer daytime phone number is entered on the General Information s
9. 99 of the state EF returns are accepted States participating in direct or state only filing allow retransmission of rejected state returns Some states issue Conditional acceptance codes that require follow up If there are problems with the return the states will notify the ERO or taxpayer for additional information Many states do not reject returns e Return to Clients Open and make necessary corrections e Review the return e Verify presence of Form 8453 or 8879 e Select Create E file s Click OK e Repeat Transmission Process steps NOTE If the client was already moved to EF clicking Create E File s will automatically override the previous E File By not clicking Create E File s after Review the client is automatically deleted from the E File send screen NOTE Returns rejected on the 15 of April August and October can be retransmitted timely through the 20 Personal Identification Number PIN Program Taxpayers who e file will be able to electronically sign their return by selecting a five digit Personal Identification Number PIN Use of the PIN is optional but highly recommended The PIN eliminates the requirement for Form 8453 and mailing paper to IRS The PIN Form 8879 will be a generated instead of 8453 PIN information is entered on the General Information screen The PIN serves as the electronic signature Practitioner PIN Program Taxpayer Spouse PINnumbehcmenauruace came nent fasasa 56565 EROS PIN num
10. Bees AAA ea eam tad Ree PEN fer EP P E hhhph intti f j ne e Click to Create E file when ready to transmit return to IRS and or State If the return contains a state e file type of Direct or State Only and additional screen will appear Verify returns ready to e file If applicable untag returns that are not ready for e file Click OK State Electronic Filing There are three types of state electronic files Piggyback Piggyback state returns are sent to the IRS with the federal return They cannot be sent after the federal has been accepted they must be sent initially with the federal The IRS peels off the state information The states retrieve and process their appropriate files You can only file ONE state return piggyback Piggyback is the default Piggyback state e file clients will appear with ONE line only on the EF Center Send Clients screen The Piggyback state will be noted in the state column on the same line as the federal return All states except CA IL MA ME and MN can be sent as Piggyback HI OK and OR can ONLY be sent as Piggyback State Only State Only returns are sent to the IRS separate from the federal return IRS puts the state returns in a state holding tank The states retrieve and process their appropriate files You can file MULTIPLE State Only states per client You can e file the federal return but you do not have to State Only states include AL AR AZ CO CT DC DE GA IA ID
11. IN KS KY LA MD MI MO MS MT NC ND NE NJ NM NY OH PA RI SC UT VA VT WI WV State Only e file clients will appear separate on the EF Center Send Clients screen If you do or do not e file the federal and state return one line will be for the federal return one line will be for the state return with the state noted in the state column Direct Direct State e files are transmitted separate from the federal direct to the state You can file MULTIPLE direct states per client You can also e file the federal return but you do not have to Direct states include CA IL MA ME and MN and can only be sent as Direct states Direct e file clients will appear separate on the EF Center Send Clients screen If you do or do not e file the federal and state return one line will be for the federal return one line will be for the state return with the state noted in the state column NOTE Reference the State EF Program Spreadsheet distributed with the software State information is not included in the manual as information changes frequently Reference individual state handbooks for detailed requirements Electronic Filing Information e Complete the EF screen for direct deposit electronic funds withdrawal and PIN information This screen is also used to force a new DCN if necessary e Select Review to process and view the return Verify presence of Form 8453 or 8879 If EF Rej appears click Fix Now make corrections select Aud
12. Straight Line NRSL 4 Enter the Period as 10 years 5 Enter the Convention as Full Year 6 Enter the Prior Depreciation as 320 Step 9 1065 page 2 Cost of Goods Sold Schedule A A On line 2 Cost of goods sold of the input screen for page 1 of the 1065 there is a Schedule A link Click the link and the 1065 page 2 input screen will appear a Enter the following amounts i Inventory at beginning of year line 1 18 125 ii Purchases line 2 268 741 iii Inventory at end of year line 7 19 225 b Line 8 Cost of goods sold on Schedule A should equal 267 641 c The method used for valuing inventory for the partnership is Cost which is the default method in the program Therefore no entry is necessary d The remaining questions regarding inventory are answered No which is the default for the partnership B At the top of the input pane right below the tool bar there is a green back arrow If you use the links provided to navigate through the program you can use the back arrow to return to the screen where you last clicked a link Click the green arrow button at the left of the input form control bar to return to the 1065 page 1 input screen C Click the Peek button on the button bar to review the numbers on the form As a result of the Cost of goods sold entries 1065 page 1 should show the following e Total income line 8 139 018 e Total deductions line 21 89 296 e Ordinary business income li
13. These sections will print prior to the Closing section To include them from the drop down box select desired letter Federal Extra Sections cannot be defaulted for all clients Other Letters We have given you the ability to print three other letters Privacy Engagement and client letters These will print as separate letters Scroll to the Other Letters area at the bottom of the Letters screen From the drop down box select the desired letter Other letters cannot be defaulted for all clients Invoice Invoice allows entry of individual billing amounts for each Form and Schedule Some Forms and Schedules also allow line item billing Suppress printing of any item on the Invoice by tagging the Suppress check box Once invoice settings have been entered and saved defaults will automatically carry when a return is processed Select Settings Invoice Settings to access Invoice screen El Forms and Invoice Settings for all clients j 1041 1065 1120 1120S 706 709 990 5500 EESK Description Suppress Amount Per Item 1 Form 1040EZ E 0 00 2 Form 1040EZ Page 2 A 0 00 3 Form 10404 0 00 4 Form 10404 Page 2 0 00 0 00 Se Schedule 1 0 00 0 00 Schedule 2 0 00 0 00 es Schedule 2 Page 2 0 00 0 00 8 Schedule 3 0 00 0 00 0 00 0 00 0 00 0 00 0 00 0 00 IS l Form 1040 11 Form 1040 Page 2 Form 1040NR Page 1 Form 1040NF Page 2 14 Form 1040NR Page 3 15 Fo
14. form designed for that purpose The specific regulation must be cited followed by an explanation or other supporting information IE Note 1 Notes Notes EF Preparer Notes EF Election Explanation EF Regulatory Explanation Previat Next gt Print Delete Close ese Help E File Center Login In order to access the E File Center you must have your Internet open Open your Internet and then return to the TaxAgent program 1 Click EF Cntr on the button bar 2 The E File Center login screen will appear Micrrsati lmtiornot bag lows lowe Winds Eq User Anra 1 a Fs HAs lopan ine Password Are pau th Admoniiratar koe tt Remember my login informetion on this computer Ppt m SEM me ArI re e Click for helpful hints when logging in for the first time e Click for helpful hints for the Administrator NOTE The ability to login to the E File Center as the Administrator or as a User has been added It will be necessary for the Administrator to perform the initial setup as they will have the ability to see all user names and passwords If you are the only person in the office follow the Administrator instructions 3 If this is the first time you are accessing the E File Center enter your User Name and Password as the following 3a Administrator Enter your Account Number for the User Name and your Charge Number for the password as they appear on your 2005 License Notice 3b User
15. from 2004 to 2005 To simplify your tax practice procedures we have provided an Update feature This option will carry client information from the 2004 program to 2005 eliminating reentry of limited data The 2004 data will remain intact for use in the 2004 program Update 1040 Individual from 2004 to 2005 2005 1 1 Last Year s Drive Ic 7 Folder Samples ClientID Clent Last Name Taxpayer Name Spous 50001 WHY EAU DE TOILETTE TESTA ERTIA TEST N BLO WNAPART TEST N FREDA 1 MAPLE TEST O Total Clients 5 MSDE SQL Options Update Close A Select Clients from the button bar Select the drive and folder where 2005 clients will reside B Select Update Select the last year drive and folder location of 2004clients C After locating the 2004 files click Options Tag the items you want included in the update process and click OK Client Update Options Please choose those items that you Depreciation Detail Statements Notes Notify before overwriting client files if they exist Comments States E Exclude clients whose status shows as updated l Renumber Clients during Update OK D Tag the 2004 clients and click Update A progress indicator bar will indicate update progression Click Close when complete Updating System Files Some of the information you entered in the 2004 program is applicable for the 2005 program You can update Employer Library Preparer Data C
16. in aclient s return click the Review button 3 Click the Adv button located on the Review Options bar 4 Make the desired selections or use any defaults that appear 5 Click the Start Job button to perform options selected on the Advanced Form Delivery screen dvanced For m Weer y ANS rennes Papei Fina Sein AN Growermen Pape Firg Sein meirean __ pe C Vw kDa l EF Sipira Sa 2 Hoe kaihaa tee Petewod onbo i on the POF We al be ied rath d piira Coney of bha fiat A kaa of thes hepara linii Pure od coray iama iha ki d dr od ihe D rar arj iha fai d laben od tha cip ool iijerca pireasic on megn aln LIPPER cate waj eih rnn macet Tnm the panmendopion iy sarg bch Sethnge Gethinega gee Deisi Woe etinats Set Degau Dey ai Prese StsnJob lone Bap There are 2 methods of form delivery Print and Save You can check the box found next to each method to activate the selection Uncheck the box to deactivate the selection e Print allows you to select which sets and how many copies of each set you would like to print You can choose up to six sets from the drop down boxes e Save allows you to save specific sets of your client s return You may choose the path where you will save the file and the filename There are several buttons located at the bottom of the Advanced Form Delivery screen e Settings links to the Printer amp Delivery Settings screen where you may ch
17. indicating that it was detailed The total amount will also appear lt screen gt tut7 tif A Detail Statement Other Income Loss 1065 PG 1 3007 z Description Amount 1 Interest income on accounts receivable 559 2 Total 559 Insert Line Delete Line Remove F9 Calculator Use cents Print F8 Help F1 OK esc D Enter the following allowable deductions in the appropriate input fields e Salaries and wages line 9 29 350 e Guaranteed payments to partners line 10 25 000 Frank received 20 000 and Susan received 5 000 e Repairs and maintenance line 11 1 125 e Bad debts line 12 250 e Rent line 13 20 000 e State Income Taxes line 14 3 295 e Interest line 15 1 451 e Other Deductions line 20 o Advertising 4 000 o Other business deductions 4 003 We will create a detail statement for the Other business deductions of 4 003 Put the curser on the line 20 input field for Other business deductions then click the Detail button or right click and select Detail Statement Enter the descriptions as Labeling 1 Costs and Miscellaneous Deductions on separate lines Enter the amounts as 3 000 and 1 003 respectively F Click OK to return to the 1065 page 1 input screen G On the button bar click the Peek button to view the output form Check to make sure the Total Other Deductions of 8 003 are printing on line 20 Step 8 Depreciation The partnership has bookshelves that the
18. is set when you open or create a new client Other statuses must be set manually Preparation Status for Jones Richard File Date 11403 2 EJ Status Comments Checklist Status Date ID In onan 10 23 2003 Jyl Settings OK Cancel I Do not display preparation status automatically Help Auto Status Feature Every time you exit a client s return the program will ask if you want to change the client status This feature can be turned off by checking the box Do not display preparation status automatically at the bottom of that box and clicking OK This will turn the feature off for all clients To turn the feature back on click Control on the button bar Click the Suppress tab Uncheck the Suppress Status Prompt box Managing Your Clients Data Marmt A powerful tool for keeping track of client information and status is Client Management All Updated and Reviewed clients will appear Click the applicable System you want to work with from the dropdown box Riigis Labels eee Den Eednaiie Samino Clete Den I Last Mane ELEI SN Add Tabe Delte Secured Clot TESTE 00 1005 TEST F WHH ti TESTT 00 1071 TEST H init bandy 12720620 TEST4 D105 EST aHa CANAS T TESTZ 10 1007 CHARITY TESTL ait DE LA HALO TESTA SHAM EAU DE TOILETTE TEST A 000 104 EAU DE TOILETTE TESTA UHH EDGE a0 TEST H mE EFTA TEST H amigi 238 GRABS TESTU 10 HAEE i gt Federal Info view a summary of the cli
19. particular field e OVERRIDE Entry Entries with two black dots or diamonds indicate that any manual entry will Override the computer calculations If a zero amount is desired enter 1 NOTE If an entry is made in the Override field and the computer generated amount is more advantageous for the taxpayer an Audit Statement will be generated You can determine the amount you wish to use Depreciation Worksheet Entry Entries with an arrow indicate you have the capability to enter the item through the Depreciation Worksheet e LINKING FORMS Hyperlink Clicking this arrow will Link you to the form associated with the line number see Optional and Override Entries For example on Form 1040 page 1 lines 8 and 9 click on the arrow and a the program will jump to Schedule B When you have finished entering the information press Ctrl B to jump back to Form 1040 page 1 All fields with this feature have an arrow to the right of the input field Available on Form 1040 pg 1 and 2 only Colors This feature will allow you to customize your colors while working in the TaxAgent program Select Settings from the Menu Bar and then Colors Change Colors Click on a color to change it Background Color Settings Focused Field Background Detail Statement Field Background Normal Field Background A Input Screen Background Text Color Settings Normal Text Defaults l To change a color setting click th
20. populate If you prefer to manually enter the Access Codes enter them exactly as they appear on your License Agreement Click Next N3 Initial Configuration Access Codes 3 of 8 Download Access Codes Other Cancel Help 4 Security This year you will be prompted to set Security for the program during the initial installation If you do not want the Security feature turned on you will need to select the Disable Security option However we highly recommend that you secure your software If you enable Security you will need to complete all applicable information on the following screens 11 ia Initial Configuration Security 4 of 8 Important Note The Financial Modernization Act of 1999 also known as the Gramm Leach Bliley Act includes provisions to protect consumers personal financial information held by financial institutions Financial institutions which include banks security firms and companies providing other financial services such as individual tax return preparation are required to make every effort to keep their clients personal financial data secure We recommend that you turn on the Security feature and require individuals to login before using this tax preparation software Doing so can help prevent unauthorized users from accessing your clients private financial information C Enable Security recommended Disable Security Initial Configuration Cancel Hel
21. vm Anended Te Taa biien Paire The ga tor ia peia reqprinaiion smarubes ip kana ihe iaai Ppa ae nee Da Oe ta Mi Reis eared ees Paes ar Foe GTi eey perines cr LLC biarn bise piia CE Tan Tre Landed Peet oe ans LL Res ae ieee SE Hii M wa Lini Parir or atric LL mekseubees g dn to DE Hai K Pai y 1 Pere Other 11 Rimmi P De Petrershp P e 1I Phen E 3 Corporation 1 13 Piman FLA Eimi hori 14mm S tm 10 Hiran F POR FANTHO OPAL L mismon D i EHE Pati ERDF VER PARTH aroi 7 ee Ls E x i n fe ons il Lien f E A i 4 CINTA She Ts PnP e bi Pae phar pf Baiiian aj yaa Emt HT ia Dimba ieee erat i l smire Step 17 Schedule K 1 Susan L Baker m o QQ 1 Now we need to enter Susan s K 1 information At the top of Frank s K 1 input screen click the Next button to access the second K 1 Notice that at the top of the input screen next to the Prior and Next buttons we see 2 of 2 Enter Susan L Baker as the Partner s name top line Enter Susan s Street Address as 10 Orange Street Enter the ZIP code as 20904 Select Silver Spring as the city Enter Susan s SSN as 546 01 3333 If you Peek the form you will notice for item that the box for General partner is automatically checked on the form because this is a General Partnership Enter 7 Individual Active for the Type of entity field on item K Enter 50 in the Master Default field for
22. 0 1065 1041 1120 and 1120 S systems The state indicated on the General Information Screen will be the Resident State State of Incorporation or State of Organization 111 To add additional states click State on the button bar Click States located above the forms column Type additional two letter state abbreviations or select from the drop down list States to Process and Pup Codes State Pup Code Suppress Resident T ACCESS Federal Pup ACCESS Advanced gt gt Pup History Get Pupfs Remove Close esc Help NOTE The Resident State must be entered on the federal General Information Screen in the address area The Resident state will always process last to ensure credits carry properly The 1040 and 1041 system automatically compute the Credit for Other State Taxes Paid The 1041 system does not process all states An option is available to manually input states that TaxAgent does not process Manual entries will be added to computed amounts Multiple State PUP Codes If you are using the PUP code system you will need a separate PUP code for each State Refer to the Internet Service Provider Per Unit Process PUP Codes section State Forms Many states require specific federal forms be attached to the state return Select Settings Distribution Sets to modify the default settings of federal forms In the Select Set to Edit column highlight Federal Paper Click the Forms tab Select System
23. 00 is imposed The 1065 e file procedure is similar to 1040 Check the File Electronically box on the 1065 GI screen On the E File Center screen select System 1065 from the drop down box to access 1065 e file information An e file waiver is available through the IRS but exceptions are very limited Reference IRS Pub 1524 for 1065 e file details TaxAgent 1065 Drain Time OGUEM arcs saree nde eee bare 7 00 am MST M F NOTE TaxAgent will notify all users via Alerts if the drain time changes From the E File Center Overview screen you can also click the Drain Times link IRS 1065 E help Phone Number 1 866 255 0654 Ogden Form 8453 P Mailing Address Ogden Service Center Internal Revenue Service Attn Stop 6052 1160 West 1200 South Ogden UT 84201 NOTE PINs cannot be used for 1065 E File 1065 IRS E File Application To participate in the IRS 1065 e file program you must file Form 8633 with the IRS Check box 1065 under question 4 1120 1120S E File In tax year 2003 the IRS allowed e file for 1120 and 1120S returns The IRS has mandated that all 1120 1120S Corporations with assets of 50 million or 1d more and filing 250 federal returns must file form 1120 1120S electronically The 1120 1120S e file process is similar to 1040 Check the File Electronically box on the 1120 or 1120S General Information screen On the E File Center screen select System 1120 or 1120S from the drop down box to access the e file info
24. Administrator 9 The Manage User Name screen will appear Tools gt Securtty gt Manage User Hames a AP ee ice ar Bint intor aplarer overdew Sendolents Acis Bank Database Reports Arche cose Ison Typa Lagre For accaunt Mimin Access Level ALL Total logr i i e Click to add new users e Click to delete a user Click to edit user login information 10 Click the Add button to set up additional User Logins J hid npin aot intend Eaplaror JEH zeruri Pheri ee ser hiemes z Please anier her war s First andl hasi marme Firet hama Last Mara Create 6 username and partir O Liner sme muf be st leet ohersobars but cant emcee 20 characters beher 4 7 Mumbers 0 9 and fhe underscore a Sheracter can ha used User Hame Mie 20 chatacters 5 Deish passed of peeeword wii be guven bo tha nee uar arrunt gt The ganer of the wer topsumt mil be prmgbad to ceiba a ngs sbaTETe Paora of Sai gan uoon begging in Piarta select the areas of the E Fila Genter this login will have accass ta El Send Chania ETET fl Banik fl Database V Reports Fl archive fe Bank Erirodmarit Beck j Dumi 11 Enter the User s First Name Last Name and User Name The Password will automatically be set as password until the User changes it the first time they log into the E File Center 12 Tag the areas of the E File Center the User will be able to access The default is access to all areas 13 Click Submit when co
25. EF and Bank Settings EF Switches Only enter Starting and Ending Batch Numbers if the program is installed on more than one stand alone non networked computer Entering an Ending Batch number is optional but if it is not entered there is a risk that 2 computers could run into the same range of DCNs and cause Duplicate DCN rejection errors State returns will use the same DCNs as the federal return Sample DCN EFIN Starting Batch Ending Batch EFIN Batch Sequence Year 1 to 9399 fto 9399 123456 23 fi2 a The grid on this screen allows you to adjust the range of Batch numbers for this instance of the program Each EFIN is allowed up to 999 Batches The program automatically fills each Batch with 99 returns indicated by the Sequence number before starting a new Batch OK esc Cancel Help NOTE Network users should use this screen only to enter multiple EFINs If you need to reassign a DCN check the box Force new DCN on the EF Form 8453 screen a 1 Preparing the return Select Clients New Client or Open to access client input pi Enter Taxpayer name address and other applicable tax return information Reference the 1040 Tutorial Section for help in entering tax information 3 We will now continue with input related to electronic filing 4 Onthe General Information screen you have three screen options a Advanced for complex returns b Lite for electronic filing and simpl
26. Hore E1 56E Pal E2 SchE Fg Z rem P ri Oo o o c li a a m f m m E E D To add a form to the Common Tab while working in the client s return select the Form tab Highlight the desired form and right click with the mouse Add to Common button will appear Click this button and the form will be added to the Common tab list To remove a form select the Common tab Select desired form and right click with the mouse Remove from Common button will appear Click this button and the form will be removed from the Common tab list You can also customize the Common tab by clicking the Settings Common Forms The forms defaulted by TaxAgent will be tagged Select the System and User and tag the forms you want listed under the Common tab Click Default to restore common forms to defaults distributed with the program 4 Common Forms s Common Forms 1040 Ayl bf Gerdes Info Gereral bilmiman fe Depandans Dependent Inhoniatenr fet ile Tas Dadaan lor Blectiores Firg L iracas erste U piang O Options Prepares Ophare il Wage w2 Wiage and Tax Stalemert O Gambin wi Ganibling innr and Ta Statement fet Penia Dieliheer Fiom Pendont Annies ale O Gent Pinte Dorama Pavements J Mec Income 1E Miscellaneous neoa O TAi Pg 1 U5 lniadual Ines Tae Aaiun Pig 1 CJ 1MO Pg 2 5 Ineiadual Income Tas Reilun Pg 2 O See See Ben Socal Secunilp Banelds O SEF SIMPLE SEP SIMPLE KEOGH Plane bef Sche
27. K Select the drive you want to back up using the drop down combo box Click Backup Backup Sei The backup routine cnesbes a backup s The Geckup setis biasd wih today s cabs luaipee deys of backup sels oan be geej onthe seme media Towestore files trom a backup set saien echoes tom thee fe man Last Backup Set Created igg Backup To H Chant Files From f Select Files bo be included in the Backup Set duuin4Conplists Libraries Common Enner fenyes Foraj Cisi Conid Data Crow Finn account H Addes EIH Ein Cirio Leathers Pemonsiced Cei lnbuchon Leer Dalat Deis Saved On Seres Engh aed Libary Erplcans EIH Hirai and Akitast Functional Caspara hape na Caa brergipa Paces laisia Cie mca Mort Database Cien Fils A anegereent Daaba Peps Chats Preparer Fiunsion etira LiH Spine 5 erga Shain Seira Cheri Siria mimaa E Dort pong on ani Oe Dros Every time you Exit TaxAgent you will receive a message stating the program was unable to determine when your last backup was completed To suppress this check the box Do not prompt to backup upon exit To turn this feature back on select Control on the Button Bar Click the Suppress tab and uncheck the box Suppress Prompt for Backup fal Eal El Eal Eal i wi Restoring Client Files To restore files you backed up using the TaxAgent Backup feature select File Restore Select either the Files tab to restore system fil
28. N information was received 0 means IRS expects Form 8453 to be mailed Field will be blank if return Rejects PIN Exclusions gt Legal or illegal aliens with SSNs not valid for employment Citizenship Code C or D gt Taxpayers filing Form 3464 5713 8283 8332 8885 These forms MUST be mailed to IRS IRS e file Signature Authorization Form Form 8879 PIN participants will have Form 8879 instead of Form 8453 gt Taxpayer s can enter their own PINs or the taxpayer and or spouse can authorize the ERO to enter their PINs It is not acceptable for a taxpayer to enter the PIN of a spouse who is not present This Form must be signed by taxpayer s This form can be provided to the taxpayer personally by mail or by fax This form must be returned to the ERO before the return is e filed The ERO must retain this form for 3 years The ERO can provide a copy of the form to the taxpayer upon request If corrections must be made to the form due to changes or rejections a new form must be used VVV VV v Transmit PIN returns and non PIN returns together More information on the PIN program can be found at the IRS Web Site www irs gov E file Notes With the implementation of a PIN e file is truly a paperless document Because notes and explanations cannot be attached to the 8453 for backup when a PIN is used IRS has allowed electronic notes and explanations for e file returns To access Notes and Explanations select U
29. No more thumbing through IRS Package X or State Instructions Booklets TaxAgent CD ROM must be in the drive when using this feature To access select System or State from the pull down tree Select applicable Form Click on the Government Instructions tab If the Government Instructions tab is static the instructions are not available for form selected NOTE Some instructions were not available with the initial software release Instructions will be upgraded throughout the tax season Publications IRS publications have been incorporated into the TaxAgent Help feature It functions the same as Government Instructions Some State publications are not available To access select System Form If the form you are viewing has a related publication the Publication tab will be active Click on the Publication tab TaxAgent CD ROM must be in the drive to access this feature 1 gt Revisions TaxAgent upgrades and frequently asked questions will be listed under this feature The date description and solution of the upgrade will be listed Upgrades that have not been downloaded to your system will be shaded in pink Once the upgrade has been performed the item will appear white The Revisions tab will only be active if the form you are viewing has been upgraded To view all upgrades select All Revisions Any System or State that has been upgraded will be listed This is a nice short cut to verify if you have the most current version fo
30. Pa pup cies e Check to default State bank information the same as Federal NOTE If you participate in the Bank Program and the taxpayer would like their RAL or RT direct deposited versus paper check enter the client s personal bank account information on this grid You must also check the Direct Deposit box on the Bank input screen If the client wants the preparer the print the RAL or RT check do not complete the grid X 14 Verify federal and or state information in the Government column If changes need to made they must be entered on the File State Return s Electronically grid 15 Check the Same as Federal column if you want the state bank account information to mirror the federal If you want different account information leave the column blank By checking this column information entered on the federal line will default to the state line in the Financial Institution Name Routing Number Depositor Account Number and Account Type columns 16 The Financial Institution Name column is an auto fill library field Enter the institution name or click the dropdown arrow and highlight selection NOTE If entries were made in Settings RTN Library or if you entered the bank information previously you can select the applicable Financial Institution name from the dropdown box The Financial Institution Name and Routing Number columns will auto fill Refer to Utilities Settings Workbench section for details on the RTN library
31. TaxAgent User Manual Initial Configuration We have enhanced the way we update and configure information after installing the software 1 Startup Click the icon on your desktop The Initial Configuration wizard will appear Click Next 2 Firm Data There are four key fields that are required in your Firm Data Account Number Charge Number Serial Number and Street Address the Account Number and Serial Number will populate automatically because they were entered during the installation process Enter the Charge Number and Street Address exactly as shown on your License Agreement You may enter anything you wish in the non key fields fields not marked with an asterisk Click Next Initial Configuration Firm Data 1 of 8 Account Number Serial Number Charge Number z Firm Name Contact Name Street Address Zip City State Required Entry Cancel Help Initial Configuration Firm Data 2 of 8 Employer ID No Default EFIN E mail Address Web Site Ooo o y fi J fi J Telephone Fax Service Bureau H lt Back Next gt Cancel Help Firm Data Enter anything you wish on the second Firm Data screen If you are an e file participant you should enter your EFIN on this screen Click Next Access Codes This year you can download your access codes Simply click the Download Access Codes button The codes will automatically
32. ail Statement The program will also produce a Self Employment Worksheet a Federal Depreciation Schedule a Partner s Summary an instruction letter for the Partnership a K 1 letter with each K 1 and an invoice A Click the Review button on the button bar B The program produces some audit statements that may provide useful information or help identify trouble spots in the return This return should not produce any audits However if you do see some audits while processing client tax returns they should be resolved before filing the returns if possible Step 22 Compare 1065 Pages 1 4 Schedules K 1 On the TaxAgent CD in the Samples directory you will find a copy of the AbleBaker Bookstore return Review that return print out Form 1065 pages 1 through 4 and Schedules K 1 Compare them to the return that you have entered in the Tutorial folder Step 23 Printing the Return You have various options for printing A You can print or save the return B There are several ways to print all of the forms 1 Click the down arrow in the Print drop down box and select All Then click the Print button 2 Select all of the forms by clicking on the checkbox at the very top of the Output Forms list Select Tagged from the Print drop down box and then click the Print button C To print specific forms tag the forms you want to print by placing a checkmark in the box next to the form in the Output Forms list Select Tagged fr
33. ail address security question and answer will be filled in Enter your new password and verify it Leave it blank to keep your existing password If you wish to change your email address or security question and answer make the applicable entries Click Save when complete 20 If you are a user and have forgotten your password click the EF Cntr button The Login screen will appear aati Imiarnat bse hes Clee windas Fy Aas ope tee ini Are yuu the Adrnteatar C Remember my login information on this computer m ra l e Click to recover login user name and password 21 Click the forgot my username password link lt screen gt Username Password Recovery tif Once al the security queshons are scseered comectly oir usernames password ll be sent to the e mal address you provided UG Whee you crested your kign Security Questions What your account number Whal wae Pour demu questign mother s maken name w Secret Arper What was the s mal address pou provided for recovery purposes 22 Fill in the Security Questions which consists of account number security question answer to your security question and e mail address you entered during your initial login Click Submit to have your user name and password emailed to you 23 Access your email account to retrieve your login user name and password information lt screen gt overview tif Caster 200 Owen Micnosott iurat op herer Terview SendQien
34. and State from drop down boxes Click the sign next to Federal Forms to expand the tree and view all forms To modify defaults tag required federal forms to attach to the state return 1L A screen listing federal forms will appear Tag the required federal forms to include with the state return State W 2 W 2G 1099 R 1099 Misc and 1099 G The state entered in the address field on the Federal General Information screen will automatically carry to Form W 2 W 2G 1099 R 1099 Misc ad 1099 G state fields Enter the two letter state code on these forms to override the state entered on the General Information screen fom Emmen fms Lined f ject 1 nm iniu CF Poa aed LOA i ti Lie EN rene PO Cpr WI ate ed FED Farmiga ia wat Tani eT 1ER Peron VSG Gere Pret TSE Hu noe City Ogre STR Chikita 1 lt 1HaPgt 2 1 Pq 2 Boa See Ben Bie A Tgbeik E Scheid E C Sch l D phai p OH Sate di Horm EI GAE Pal E2 5E Pod Bit Siem EC ggl m B iDO ej a E jo ID Oo oO ID 10 io a D m gj E Oo a fal a oO ID m oO B fal iD a ID 2 iat AATE are L ae ardiak n Luib poms AD Bo ia Fenn Wed Wage and Tax Information pipaa ca pee Emine ree Hie Epira mdbera itl cite Emiyrsa cip chee DF ni diiy b heys D rnt D Erawana rename a a Bhare EF ody iia a Cio psss a mingan bpo ona ai F Pew repens ja wim E Soi iiri oe G Eb a De a Rik
35. and click Ctrl D The default is to print additional text at the bottom of the letter Check the Print additional Federal text at the top of the letter box to override the default placement a Form Common Type Used Selection Letters Fields may be defaulted by pressing CTRL D Standard Filing Instruction Letter Suppress printing Standard Filing Instruction Letter Prepare federal extension Standard Filing Instruction Letter Prepare state extension Standard Filing Instruction Letter D W2G Gambling W2 O 10999 Pensions DO 10996 Govt Pmts O 1099M Misc Income B 1 1040 Pg1 B 2 1040 Pg2 O SSA Soc Sec Ben Additional text to print at bottom of Standard Filing Instruction Letter DO SSK IRA SEP SMPL OG A Schedule A lt Insertscreen gt stdletter tif e Select to access standard filing instruction letter input screen e Check to suppress printing of standard filing instruction letter e Check to print standard filing instruction extension letters e Enter additional text NOTE The Standard Filing Instruction letter can be suppressed by checking the box Suppress printing of Standard Filing Instruction letter Custom Letters This year we have enhanced the custom letters They have been expanded providing numerous letter options You have the ability to print both a Standard Filing Instruction Letter and Custom Letters Standard 41 Filing Instructions are generated automatically Cu
36. ange printer options and adjust the Defaults for Advanced Form Delivery e Sets links to the Distribution Sets screen where you can adjust existing sets to meet your needs or create your own custom distribution sets by clicking the New button e Defaults links to the Defaults for Advanced Form Delivery tab within Printer amp Delivery Settings where you can set the defaults for Advanced Form Delivery e Use Defaults click to use the defaults set on the Defaults for Advanced Form Delivery screen e Set Defaults after customizing the settings on the Advanced Form Delivery screen click this button to save selected items as your defaults e Clear All click to clear all of the settings currently on the Advanced Form Delivery screen e Preview click to preview a set of the items you have selected on the Advanced Form Delivery screen e Start Job click to perform print save or email options you have selected on the Advanced Form Delivery screen e Close click to close and exit the Advanced Form Delivery screen e Help links to a document with helpful information on how to use Advanced Form Delivery NOTE Refer to the Print Features section for other print tips Enhancing Your Performance Backups section for other save tips Printing the Return Print Individual Returns Most preparers like to print returns while they are working in Client Selection Let s select Clients Usually you will be
37. atement Cash Contributions 50 1065 PG 3 3363 v Description Amount 1 United Way 300 2 American Cancer Society 350 Total 650 Insert Line Delete Line Remove F9 Calculator Use cents Print F8 Help F1 OK esc a Right click on the output form again to view the input screen for the 1065 page 3 D Enter 52 880 on line 19a Distributions of cash and marketable securities Frank and Susan each withdrew 26 440 from the partnership Step 12 1065 page 4 Analysis of Net Income A Inthe Forms Pane click on 4 1065 Pg 4 NOTE The Analysis of Net Income section is automatically filled out based on the type of partners indicated on the Schedule K 1 input screen The Schedule K 1 input will be deferred to a later step in the Tutorial Step 13 1065 page 4 Balance Sheet A Enter the AbleBaker Bookstore beginning and ending balance sheet amounts as shown below Beginning of End of Tax Year Tax Year Cash line 1 9 981 9 181 Notes and accounts receivable line 2a Tax exempt securities line 5 o Maryland Municipal Bonds 1 000 Bldg other depreciable assets line 9a Accumulated depreciation line 9b Accounts payable line 15 Mortgages notes bonds under 1 yr line 16 Mortgages notes bonds over 1 yr line 19 7 150 10 990 1 000 4 794 320 10 180 9 767 3 000 2 600 7 739 For the Tax exempt securities line 5 create a detail statement by clicking the Detail button on t
38. ber AEE A E AT 9999 a Ae AA Aree er eine ie x fo1 15 2004 PIN authorization indicator Default Taxpayer s entered PIN s or no PIN s present ERO entered Primary Taxpayer s PIN ERO entered Spouse s PIN ERO entered both Taxpayer s PIN ani Ei gt 2 3 4 4 Taxpayer Spouse PINs Taxpayer and Spouse can select a PIN It is composed of 5 digits All zeros are not permitted The taxpayer and spouse PINs can be the same ERO PIN The ERO must select a PIN This PIN will remain constant for all returns submitted at one location If the ERO moves from one office to another a unique PIN must be used for each office NOTE To default the taxpayer spouse and ERO PIN s while in the field enter the 5 digit number Select Cntrl D Default will be set Click OK The PIN numbers will only be activated if the signature date is entered PIN Input Verification From the drop down box specify how the PIN was entered either personally or by the preparer ERO Default is Taxpayer s entered PIN s Signature Date A Signature Date noting when the Taxpayer PIN was entered is required If Taxpayer and Spouse PINs were entered on different dates use the Taxpayer date Acknowledgment PIN Indicator Field The Acknowledgment will have a PIN Indicator field noting O PIN not present 1 practitioner PIN present 2 Self Select PIN by Practintioner 3 Self Select Online 4 State Only PIN IRS will use this field to indicate if all PI
39. buttons located on the button bar By setting up logins that require passwords user specific settings in Control Data Printers Colors EF amp Bank Settings move from computer to computer with the individual user lt screen gt security4tif Security Setup Password Protect il Keycodes Preferences Require Users to Login upon Startup Iv Michie ATERA Add User Delete User UserlD Password Limited Drive Folder NOTE You must set a password for each individual user This is required when logging into TaxAgent When TaxAgent is opened after Security has been set the Login to TaxAgent 2005 screen will appear You have the option of logging in as a specific user which will allow you to open TaxAgent and prepare returns or you can input the Master Password which only allows you to edit the Security settings You will not be able to open TaxAgent if you only input the Master Password Security Keycodes A Click the Keycodes tab B You will be able to view a list of secure folders that have been created Keycodes are assigned when you create secure folders in Client Selection Preferences Folder KeyCode 4 SECURE ICB Drive A Load Folders Keycodes are case sensitive and are always 3 characters long Keycodes are always assigned to each folder by the system and cannot be changed by the user Keycodes change when the Master Password is changed Print OK esc Help NOTE When creati
40. cable form entries When you are finished click the back arrow on the input form control bar to return to the General Information screen When entering new clients the General Information screen will default to the screen option of the previous client you were working in When opening an existing client the General Information screen will default to the screen option you were working on when you closed the return x EF ergiini Di C Check Der 17 Managing Client Files While working within the Client Selection screen you may need to duplicate a return or move a client from one folder to another We have provided tools that simplify these steps To review these tools Click Clients on the button bar Kew Chieri Uren Copy Doete Recke A Imir Ujudnte Oingqaragrae Get PUPS flatch Focare gt gt Copy copies client files from one folder to another This is especially helpful if you have saved clients to a disk Renumber changes an existing client number to a new client number The only way to access this feature is to right click on that client in the Client Selection screen Delete deletes selected client files from the Client screen and places them in the recycle bin Restore the client file to the Client screen or Empty and delete the client file permanently TIP The functions can be performed quickly on individual clients From the Client Selection screen highlight the client and right clic
41. ccounts enter bank account information on separate Federal and State e file screens If you qualify for a refund on one but need to pay on the other do not check this box You must make separate entries on the Federal and State e file screens 11 The column State EF File Type will auto fill If you would like to change the file type click the dropdown box Select the desired EF File Type Piggyback and Direct are the defaults Piggyback can only be noted on one of the states if you are if you are e filing multiple states If you are filing a Direct state you cannot change this as multiple Direct states can be filed States to Process and Pup Codes m gt State EF File Type Direct x State Pup Code Suppress Resident CA v ACCESS O m ACCESS a m z E a 5 a a HT E E a a E S S Federal Pup ACCESS Advanced gt gt Pup Histor Get Pupfs Remove Close esc Help 12 Click Close 13 To participate in Direct Deposit and Electronic Funds Withdrawal click the grid This allows input of bank information so the clients refund can be directly deposited or the balance due amount can be electronic funds withdrawn EFW from their bank account e Aaee Nae ge woven Mia Gio TAS Be oe ee F ye od T ae 7 DD Direct Oepoet of Aare ERA Ekpow iret Funes Wich ced cl Aa Cho Hoe To ded dam bo Bh kd pime Choe tho yaio ated open
42. ceipt and Control Operations Receipt and Control Branch Andover MA 05544 0254 Austin TX 73344 0254 Keep a copy of Form 8453 until the end of the filing year Keep a copy of Form 8879 for 3 years from return due date or IRS received date whichever is later NOTE State Signature document requirements vary per state Reference Individual State E File handbooks or view state requirements from the E File Center Overview screen State EF Programs links E File 1040 Drain Times TaxAgent has an automated EF Center that operates day and night The Center handles Federal State and Bank transmission and receipt processes 10 TaxAgent 1040 Drain Times Andover and Philadelphia 8 00 am 3 00 pm amp 11 00 pm MST Austin and Kansas City 9 00 am 4 00 pm amp 12 00 am MST FICSNO i pint ty oLS2 Sed deeded 11 00 am 6 00 pm amp 2 00 am MST January 15 May 10 2006 Three daily drains May 11 October 20 2006 One morning drain IRS Weekly Funding Cut Offs IRS processes returns daily but funding cycles occur once a week for both paper and e file To assure returns make the weekly funding cycles returns must receive an Acceptance in the Thursday am drains NOTE TaxAgent will notify all users via Alerts if drain times change You can also go to the Overview screen and click the Drain Times link NOTE Access the IRS Refund Cycle Chart noting when clients can anticipate receip
43. cient way for our support staff to answer questions and resolve problems Please include your TaxAgent account number in any correspondence Alerts allow TaxAgent personnel to send messages throughout the year to all of our customers or certain groups of customers These messages will alert you of upgrades helpful hints e file IRS drain information etc To view the Alerts you must have your ISP open 1 Select the Alerts button from the button bar 2 Newalerts will be listed in bold text 3 Tag alert and click View or click on the alert Title in Subject column 4 View and or Print the alert Click Back This feature will keep you informed and eliminate the need to contact TaxAgent support about many Electronic Filing and Bank related issues 3 Kpt rew inpet nel EF L nber Microsol alernel Eepiorer Alerts cuen z Eaa Erimant HABAN a no PM 3 Bank Erenl man TBA 4400 PM 3 PINA E A Total Alsie E Rey talpi Japin Lrs Filing Returns Electronically To file returns electronically you must go through four basic steps preparing the return transmitting the return receiving acknowledgments and correcting rejects if required Declaration Control Number DCN Each e file return is assigned a Declaration Control Number DCN The DCN is used by the IRS for identification purposes The number must be unique for each return The program will automatically assign the DCN when the return is reviewed if the File Electr
44. codes to help process returns more efficiently Original copies of the form must be submitted to the state for processing Distribution Sets Distribution Sets are a convenient way for you to print sets of forms for your specific needs Types of Distribution Sets e Government Paper Filing o Federal Paper The federal set includes all of the federal forms and worksheets available for printing in the TaxAgent program o State Paper After selecting the state the set will include all of the state forms and worksheets available for printing in the TaxAgent program o City Paper After selecting the city the set will include all of the city forms and worksheets available for printing in the TaxAgent program o Extension All extension forms can be found here e Signature o Paper Signature This set includes all signature forms required when filing a paper return o EF Signature This set includes all signature forms required when e filing a return e Preparer o Preparer Review This set includes all forms needed while reviewing a return o Preparer File This set includes forms that could be kept by the preparer in his her records e Client o Client Copy This set includes forms the client might need for their personal records o Ptr Shr Benf Sch K 1s This set includes K 1s for all of the different business systems NOTE The program is delivered with a checkmark by forms falling int
45. correct EF Rejects Click Review or Audits again if applicable If you cannot click Audits because it is dimmed this means there are no more audits to view ip ode on Form 1800 TOD page dessa poi mck Ta vaba ag wh Sate EF REH Et tae te Mane EIM SUGGEST Fetvites thee ingest dred eih that the ile amet perieme ah mr DERE ETM has bean ented IEB mlb cheractear in length Saal Ho THUS POMEF etal e Pron ZAN ender the pri pew iea ni cakoda a Dai reg appi I kapaica be aritisad F oirr 2700 vel prin FEWEW TEMRESSEE REQUIRED ENTRY SUGGEST Enik the Coj on the Site Dersa r Heng TH G be brea ap 32 Verify Federal and State if applicable Form 8453 or 8879 were generated Print Form s 8453 or 8879 and have the taxpayer s sign them before transmitting the return to IRS NOTE A client e file and Form 8453 or 8879 will not be generated until all EF Rejects filtered by TaxAgent have been corrected We cannot verify SSN Name mismatches You must click Review vs Audit to generate the e file return 33 Click Create E File button above the form column to move the client s E file to the Send Clients screen Click OK lt Screen gt createef tif IRS lite E miira ia ma mana hi daa a ma iram no iki sh E Ppl a aagaaraaiann a j addi 4 4 rags Hg Lal Saarrl PEt J aH dy At DO HET FILE m b mm ESTIMATE RELEASE aan 12 18 3088 mmmn j rapi sy eee ae rl ap
46. creen NOTE Taxpayers may pay their federal taxes using a credit card The taxpayer must personally call one of the following numbers 1 888 2PAYTAX or 1 888 ALLTAXX Do not complete the Direct Deposit and Electronic Funds Withdrawal grid There is a finance charge associated with this service A 1040 V will print in case the taxpayer decides to pay by check State credit card options vary Check with individual states 25 To make the e file process truly paperless complete Practitioner PIN Program section This eliminates mailing any paperwork to the IRS 26 Enter a 5 digit PIN for the Taxpayer and Spouce if applicable 27 Enter a 5 digit PIN for you the ERO NOTE To default the taxpayer spouse and ERO PINs while in the field enter the 5 digit number Select Ctrl D Default will be set Click OK The PIN numbers will only be activated if a signature date is entered 28 Do not check the TaxPayer s entered PIN s box unless you have the taxpayers touch your keyboard and enter their own PIN numbers The Default is Preparer entered taxpayer s PIN s 29 Enter the Signature Date NOTE Enter T in the date field to auto fill the current date mH om sa if i ini 33 H HE Foi i Lammiin B Masik E imik D hms Hiii aot oo 30 After entering all tax and e file information check the return for EF Rejects and Audits by clicking Review or Audits on the button bar 31 Click Fix Now to
47. e Form 990 electronically The 990 e file process is similar to 1040 Check the File Electronically box on the 990 General Information screen On the E File Center screen select System 990 from the drop down box to access 990 e file information There are a few differences in the 990 business e file process They include e PIN must be used e There are no scheduled drain times The IRS will drain continuously but TaxAgent will have scheduled drain times e The IRS will acknowledge returns within 1 to 2 hours TaxAgent will have set acknowledgement receipt times e Reject codes are called Business Rules They will be ina different format than the 1040 reject codes They are very defined and easy to understand Reference www irs gov efile article 0 id 108211 00 html for 990 IRS instructions No related IRS publication number TaxAgent 990 Drain Times Ogden 8 00 am amp 3 00 pm MST M F IRS 990 E help Phone Number 1 866 255 0654 Ogden Form 8879 EO Retention You must use the Practitioner PIN program You will need to have the clients sign Form 8879 EO before transmitting the return This must be retained by the ERO for 3 years 990 IRS E File Application To participate in the IRS 990 e file program you must file Form 8633 with the IRS Check box 990 under question 4 10 1065 E File In tax year 2000 the IRS mandated all Partnerships with 100 or more K 1s to be filed electronically A 50 penalty for each K 1 over 1
48. e color The color pallet screen will appear Basic colors Custom colors E G pon Eee Z 188088 Bl See EHEHEHEH Define Custom Colors gt gt Cancel Pick one of the Basic colors or click on Define Custom Colors for more selections To create custom colors enter new values in either the RGB red green blue or HLS hue saturation and luminescence color models or just select the desired color After the color has been selected click Add to Custom Colors Up to 16 colors can be saved before the colors start to override one another After selecting custom colors new colors will be added to the color pallet screen Color Basic colors E E Emp E EEM EEE en E mE i ie E Ef g i EEE Eee it ft ff foe i Custom colors il Ltn Sot ii m Sat fo Green 0 fo Lum f0 Blue OK E Cancel Add to Custom Colors Once all of the changes are made and you are not pleased with the result don t panic TaxAgent default colors can be restored at any time Select Settings Colors and then click on Defaults Helpful Hints gt Moving through fields To move from field to field use your mouse press Enter or use the arrow keys Press the Shift and Tab keys together to move back a field Tag or Untag Click column header above check boxes to tag or untag all items Edit Cut Copy Paste accessed through the Edit menu are standard windows func
49. e fie ence Pa SO ee roe i chanel inas HENA Vioaberg Enron Taiki Tiis rara EEI T z I reves Ti F178 Pore L FLepare mumier 1i aeplieable E Cied Care Leai o bo One re ae ee 14 TaxAgent Business Systems TaxAgent provides the following Business Systems VVVV 1041 Fiduciary 1065 Partnership 1120 Corporation 1120S S Corporation All state programs are available with each of these federal systems Business systems have the same features as the 1040 Individual program These features include VVVVVV Depreciation Worksheets Audit and diagnostic statements Client management and reports Batch process Simple entry and integration of K 1 s received Multi state processing TaxAgent Business Systems offer the following additional features YYYY VVV VW Electronic Filing for 1065 1120 1120S Tracking of NOL and charitable deductions in the corporation system Tracking of basis for partners and shareholders Management of up to 10 000 K 1 s Prepare Forms 1041 A and or Form 5227 for charitable and split interest trusts Prepare Form 1120 H Special Allocations on Schedule K form 1065 Two year Comparison Report Calculate weighted average for change in ownership 1065 amp 1120S ik 1065 Sample Return Frank Able and Susan Baker partners of AbleBaker Bookstore have just come into your office to have their partnership tax return prepared Let s quickly prepare a partnership tax return for the AbleBak
50. e forms e Separator Page This prints a cover page separating each print set e Upper Page Mark This prints a mark in the upper right hand corner of the form to easily identify different sets The mark is defaulted in the program but can be edited e Print Page Number The page number relating to the set will print in the upper right hand corner next to the page mark e Client ID Date amp Time This prints the Client ID date and time on each page 8 Click OK to save and exit the Distribution Sets Create a New Set 1 To create a new set click the New button 2 Give the new set a name 3 Select its category from the drop down box 4a Choose to copy another set or start with a blank one 4b If you want to copy an existing set highlight the selection from Duplicate Set From drop down box Move the radio button to include or not include tags with the duplicate set Add New Set New Set Name Category Government Paper Filing v Duplicate Set From EF Signature v C New set with all forms tagged to print and default sort C New set with no forms tagged to print and default sort OK Cancel Help Advanced Form Delivery Advanced Form Delivery is a powerful tool This tool allows you to print and save returns You can perform the steps individually or all together To access the Advanced Form delivery screen Click the Clients button Highlight a client and click Open 2 While
51. e returns c EZ for input related to a 1040EZ For our example we will use the Advanced screen 5 Scroll to the Type of Return section and select the Type of Return you are filing from the dropdown box This is optional but will create an audit if information entered on the return does not match the selection 6 In the Electronic Filing section check the box File federal return electronically This tells the program you want to file the federal return electronically 7 8 9 General Information ead ce ee eee 10e 6515 Preparer Number oe a T 5 a af Cieni referred biy Type of raum pa FILE FEDERAL RETURN ELECTROMCALLY 20 2 C ves Electronic Filing States E Fie Porm 46668 ecdenstom electromimly oc ce eee eee O Yor Advance Chid Tae Credi periment received Tapay iS i Fret Harma tichard tephinis La i Mama na Hones Social Seouriby sire zr9 35 6545 29 37 4650 To file the state return electronically click the File State Return s Electronically grid Verify or enter the state two letter code in the State column Check the EF column to file the state return s electronically NOTE You can e file multiple states Refer to State Electronic Filing at the end of Step 1 10 Check the Direct Deposit DD Electronic Funds Withdrawal EFW Same as Federal column if you want the state refund balance due account the same for both the federal and state If you want different a
52. eal time calculations You may select whether to display the Return Summary which includes the above information or Same as Output which provides a summary of information and totals pertinent to the form or schedule you are on A limited amount of information is also included on the status bar when the Summary Pane is minimized This feature is only available in the 1040 system _ amp Fean Summary ad FEEN Gross linciorres 49 000 Std or ieendzeol 10 250 Depreciation 4 Sec zn Coens 12 200 Oa intera 1 208 Tiiccmbse eoma 15474 Toa Expenses 46 764 Fie Ta 1855 Tengatrss Protti ns i Child Care Cred air Hane Basins D Chid Taz Grad 1ra Het Pronbloes 2 286 Edika Creci at Het Tie n7 thha S210 Ee Total Pars Therls 3232 Refund ass GE G Taba Saro Hal W dones Aicherd B29256545 Jones Fichaid 573 3565 Screen Symbols Some form and schedule input screens contain symbols e REQUIRED Entry Entries with a smiley face or noted as a Keyfield mean that an entry is Required in order to generate the form e OPTIONAL Entry These amounts carry from other forms Entries with one black dot or diamond indicate that amounts will Automatically Carry from other forms if the corresponding forms are program generated Make an entry in this field if you are hand preparing this form If an amount is entered in this field and also carries from another form the amounts MAY be added together Press F1 to check the help for each
53. ent s federal return including Forms Schedules and dollar amounts gt State Info view a summary of the client s state return including dollar amounts resident status and the desired refund receipt method such as bank deposit or paper check gt Clients view the Management Client Selection screen ers PG WATERLOO ty ot APOE Od You may want to delete a client from the Management screen If you delete a client the client file will remain in Client Selection but information in Management will be lost You must Review the client again to have it reappear in Client Management Management Reports Reports are a must in every office TaxAgent has made your work easy Click the Mgmt button From the Management screen select Reports There are two categories each offering multiple reports Move radio button to desired report and click Next Client Reports Choose category of report General client reports C Marked for E File not Transmitted gt General client reports Production Summary tracks in house office production Group Status Report allows you to select one or more statuses Report prints by group Address Phone List is exactly what it says Detail Family Report lists information for the Taxpayer Spouse and Dependents for all clients Client Summary lists client return information including invoice amounts Client Log lists clients that you started to work on for a specified day Detail Report prin
54. ent has included audit suggestions and reminders while preparing tax returns To view audits while working in a client s return click Audits on the button bar Audit Statements will appear To correct the audit click Fix Now This takes you to the form and field in question where you can make changes If the Audit button is dimmed there are no audits To suppress an audit click Click here to suppress in the Suppress column Click the message once to suppress the audit for the client you are on the message will be written in blue Click the message twice to suppress the audit for all clients the message will be written in red Click the message three times to restore the Click here to suppress message To restore suppressed audits select Settings Audits Suppressed Tag the audits you wish to restore and click Remove and OK SUGGEST Aphan inthe Genial hiama ester and ender Ha prope eet ate Ther vaniy ha Fims be Process EH Eei OR he gt Close Close is used to close a current client pull down menu or screen It will not Exit TaxAgent gt Other Reference the Utilities Settings Workbench section of this manual for other helpful hints Enhancing your Performance TaxAgent has provided many tools that will help enhance your tax product We know that in today s busy world time is of utmost importance We have included tools that will save you time without compromising your final product Updating Clients
55. enter vital data If entries differ you will be prompted to select the correct entry To enable select Settings EF and Bank Settings check Verify EF key fields Vital Data fields include SSN and Name control for taxpayer and spouse on a new client SSN and birthday for dependents EIN SSN Wages and Withholding on W 2 s and EIN SSN Gross Distribution Taxable Code and Withholding for federal and state on 1099R s Sort and Find The clients data is displayed in columns Sort any column by clicking the column header or by pressing Ctrl S The current sort column header will be shaded The Find feature in Client Management coincides with sort selection Dragging An alternative to scrolling on a Form is to drag the Form Drag by moving the mouse while depressing the left mouse button or mouse wheel control Renumber Multiples To renumber a multiple select the Form or Schedule Click on the List Box select lt Delete Rename gt Sehed E Profit or Loge From Busines ee eS ot aa w Pare beg Tihei i l Tapprems Tiei r TE T owe Pore tra a be TV oem kira om Saeed fe BIT Arrei y re raar bee lj O 1E Te Tbr fe Doreen Aeros rere ba I B i iiiP Dri ape vh y rer be j T p hi dia a A Pees hen irg EFA a T D Grepa eerw oh a rei es amr Ieee Bee i mlece Gee ce i PALE a C fre ers D Emire tebic number F P E a fas Coapacar Commulrimg E bee mhn n hers coe an HA C ru hmin Tag the multiple you want to delete click Dele
56. er Bookstore and learn about some of the features in TaxAgent Step 1 Start Up A Double click the TaxAgent icon on your desktop B TaxAgent should automatically open to the Client Selection screen If not click the Clients button located on the button bar Step 2 Folder Selection C Click the 1065 tab D Create a new folder by clicking on the Folder drop down box and selecting lt New Folder gt from the list Mew Cieri es Disa m1 jet Cone i cnr m Deisis Man Fenumbiar Fecygnle Ger PUPS inlined Oneginadt Habel Pinca Tools llpdabn E Type Tutorial in the New Folder Name field and click OK Tie Add New Folder New Folder Name IT utorial OK Cancel Step 3 Client Selection B A database will maintain a list of clients already in your folder C Since the AbleBaker Bookstore partnership is new click the New Client button Step 4 New Client A B C The New Client screen will appear enabling you to initialize the client To move from field to field use your mouse or press the Enter Tab or arrow keys Press the Shift and Tab keys together to move back a field The Client Number is automatically assigned However if it is not applicable check the box at the bottom of the New Client screen to suppress the client numbering If you have already suppressed client numbering you may reactivate it by clicking the Control button on the button bar c
57. ers i mead les PUTER HEG e ESTER SATO BAT zaen EnrCAGO IL MHOL IEE Fi sen ya Bc PETAR AT LEN LLF hao POET TTS Looe firen HECKE EL isama i7 tems inira ES ase E iaaio E E E a er 13 amire Ergiopen Patrarsend Tracfurts Sae Ea bon Fir Balk Pap thc muar t ki E r r i ii ois T Sa lime Vinge Se Taw Wire Loned veges a Ti io LES Caneel Pam at em nn are roca or vo MOT Chl r Adrien siihen dsa eral cp form H Sebetttute for Porm 4 2 of Poe I A Prosar mipuli jiti ve E Hes epa wager ceee aon mieki end diribin fan pero deterred 1 Multiple ES Payments and Vouchers ES Payments and Vouchers are accessed on the ES Estimates Screen Select ES Estimates from the Forms Pane The ES screen allows you to access the Federal and State ES forms from one screen Reference the 1040 Tutorial Step 17 section for new enhancements while working on the screen Fuse Ceme Tyee Used Voerber Dele bee wima EIRE CERE Edra paan 1040 Estimated Tax 2005 Estenated Tax Payments Pim yew capere ee Boe fre daa ir eee a ri el a ja da e for ba ed ar eye pemen Hits ai Arran peat thn S00 sehr HET Gee eS ee et Peer eee ee E 2008 Estmated Tax Worksheet Cees EOS Cite o SL Avenel L Gefued all arerp epee ikrai eet fi Did eae ee 1 Luiirisied PS Femmie Tao Arari fi Gs of 2008 petteaced raz iT Cline onth
58. es Tei mmi dee heeg rece E rn Frej mra bed ee ee ee eee Pee my Lil ee ee a a Dea iiaii pure ear ml Domai as Dia caai ki a pama D a a ac raran By eae ed Tc C ve Dam Ter Eer E DETTE ee ey I Piet Aare Cand Tc ru e Entries made on the Invoice Options screen will override the invoice prices Click Discount Library link to enter discounts e Enter discount codes in this section Utilities Settings Workbench This section includes many helps that will decrease key strokes and improve output performance Utilities The following items can be accessed from the Utilities drop down menu Utilities Detail Statements F EB Calculator Ctrl R R Notes Ctrl h L 2 Client Status Ctrl F2 _ 53 States amp Pups Ctrl P Cities Upload Client to Support Team Set Default Ctrl D Remove Default Print Input Screen Reset Forms In Use Ctrl F10 Detail Statements F6 To make multiple entries for one field use the Detail Statements Type the descriptions and amounts The total will carry to the field A little pin appears on the line letting you know it was detailed Calculator Ctrl R Pops up an independent calculator that can be used to perform simple calculations The calculator can be accessed three different ways Select Utilities Calculator Right mouse click and select Calculator or press Ctrl R File Edit Help V Paste value when is pressed Notes Ctrl N This func
59. es or the Custom tab to restore items clients selected in Custom Backup Verify backup and destination drives Tag the items and click Restore After files have been restored you will receive a message Would you like to restore more Click Yes or No Restore 1 of 4 E Ovive and Set Selection Saline ihe dia whea jha backer i rimed and the daie al he Backup Set pou wish in rears Backup Drive ul ud Backup Auto Client Backups The program will automatically back up a client file each time you select Close or Clients NOTE We recommend you also back up clients using the Copy feature on the Client Selection Screen Instruction Letters Letters are a convenient way to correspond with your clients TaxAgent has included the ability to print many different types of letters with a return Standard Filing Instruction Letter The Standard Filing Instruction letter is generated automatically with each client return It contains information such as refund amount balance due and mailing instructions which are pulled from the return There are also federal and state extension letters While in a client s return select LTR Instr Ltr from the Forms Pane The letter input screen will appear It contains options for printing both the Standard and Custom Letters Additional text may be added to the Standard Filing Instruction letter To default the additional text for all clients input the text
60. es for one or more clients select Clients Get PUPs Tag desired clients and click Get PUP s A separate screen will appear for each client Tag the state s you need pup codes for and click Next and or Get PUPs The internet will launch For details on working with multiple states reference States Multiple State Processing section NOTE PUP code s must be obtained separately for each system PUP code s received through the Internet will be pasted into the return You can process each return as many times as desired Help with TaxAgent There are numerous ways to obtain help while using TaxAgent software Within TaxAgent from the menu bar select Help Program Help For help with a specific form select Help Form Help or while in a clients return press F1 for on screen help with the field you are working in In addition to these tools you can use the Internet to TaxAgent To access Help through the Internet select Help on the menu bar and select any of the following options Alerts Form Help F1 Program Help Ctrl F1 Bi Pup History web Site 5 Test Communications gt lt E mail to Support About gt Web Site will launch you into our home page gt Test Communications will perform an internet test with your ISP and TaxAgent gt E mail to Support will launch your e mail program bringing you into our Internet Help desk Your questions will be answered via e mail This is a quick effi
61. ey ja mape LEE La 5 Qing ta lel ees ad pe mi ta Ronee eL Carer poses ee oar ee a ee a Bs Hires k al a mam a o e e ea bo pee Pe ee oe e a iE its a E TAE I W i ee Fg a a Hrs n j W GD ete Pg CT ged lela Sei aah ie Gd wee ga le Feia ea oraes Da Veen eee dee Erga Frege J R En eet i b pa npp re ie m rig mire p me GN Fieni Li m aaa Sep inary dimra leech eed ree veel bape bre b iniia eect ae eee bo a eer A ee eee m Ld Se Za GAA Fad dem rhe anen eer ilo Sik a ara Hri T hemra id favre ie oe eee a Tetra seit Le M hepe 2 ee ee Pe abg Eg Dicer RR a e ah a ea eer mian a lest Ta tee eet poms Pimi PLL Form Pane The Form Pane displays a list of forms and schedules included in each system There are four tabs gt Form Displays all available forms and schedules gt Common Displays commonly used forms and schedules gt Type Displays forms and schedules by type Click the folder to view a tree listing forms and schedules for Type selected ie Credits Income Payments gt Used Displays forms and schedules used in the return you are working on Fom Common Type Used Seki m PO Op os E we waga wi W20 ambing 2 19A Pensions 109965 Grt Pras 13I Misc Income 1 1040 Pg 1 2 10 Pg 554 Soc Sac fer SEP SEP SIMPLE Schedule A B Schedule E C Schedule C D Schedule O SDH Sake of
62. ft hand side of the screen click the Insert Codes tab Highlight and double click Preparer Telephone Number PRETEL will appear in the sentence When you print the letter the actual preparer telephone number will replace PRETEL 6 After modifying the Sample letter click OK F Custom Letter Federal Paper Filing Template Footer G Dm i xi Times New Roman x 2 z Bz T i 4 ae Fal oj 100 1041 105 1120 11208 z 73 99 sso Letters Insert Codes El Federal B Paper Filing BA New Letter B Template E Header Your business is appreciated Please call if you have any questions Sincerely E Tax Due E Tax Due w int E Refund E Refund w Inter E Refund w Ref E Refund w Ref E Zero Balance E Refund w Ref B Estimated Payr E Disbursement E Disbursement E Roth IRA E Traditional IRA E sep al SIMPLE X Settings Ok lt Insertscreen gt customletter7 tif e Click to access insert codes e Click to change margins and borders 7a If you accessed the Custom letters utility from within the client s return you will return to the Letter Input screen To access the letter you have just created you must leave the letter screen and then return to the letter screen This allows the screen to refresh itself Select GI General Information or any other form from the forms pane Reselect LTR Instr Ltr to return to the Cu
63. gt Refund Calculator The Refund Calculator asks for limited attributes that will help you estimate your clients refund before entering the full return This product is included in the TaxAgent program To install the Refund Calculator put the TaxAgent CD ROM in the drive Click Installation Install Refund Calculator Once the Refund Calculator has been installed you can access it by selecting File Refund Calculator Use the Basic or an Advanced mode The advanced mode allows unlimited entries on each line The program performs calculations for you in either mode gt TaxPlanner The TaxPlanner helps you predict your clients tax situation with up to five different options on the screen at the same time If you have purchased the TaxPlanner it can be installed by selecting Installations Install TaxPlanner after installation you can access it by selecting File TaxPlanner 41
64. he audits you are getting for a client PUP button allows you to get a code for Per Unit Processing Close will close the client s return and put you in idle mode 1 Menu Bar The menu bar contains many options found on the button bar in addition to other features Status Bar The Status Bar displays the client s name and program progress AGI amp other amounts are displayed here only when the Summary Pane is minimized Workspace Modes The Workspace is located in the center of the screen and has three modes gt Idle The screen is blank and some of the button bar icons are static gt Input This screen also known as The Work Center is full and allows input of client data It is accessed through Clients New Client or Open Up to three panes can be viewed on the screen in this mode 11 ALPRE CERERE AR pepp E i Er x t gt Review This screen lists the contents of a client s return after it has been processed It is accessed by clicking Review or through Clients Review Forms schedules and audits can be viewed or printed Cee ope leery ere Gray iro 10 mr arsin kem Tm Reju E L RAS pes ee fs fm pny we T H hiohard aras a Stephanie Jona pei Babki ti Hala ars bb aor FILE l huii Cele PPR PEE Dhen eh Bey wn a Pes anon ken iip ip seni REE St es irie fE E Flag Tae T ores fing is hdl 7 a ey pma w p ie paa ee ee She i mr 3 karmi h eee fee ees DES apro reii raa
65. he button bar and using Maryland Municipal Bonds as the description Notice that the detail statements on the balance sheet allow the beginning and ending amounts to be entered for the year lt screen gt tut16 tif A Detail Statement Tax Exempt Securities 1065 PG 4 SCH L 3145 Description 1 Maryland Municipal Bonds Insert Line i M Use cents Ending 1 000 Beginning 1 000 1 000 i Remove F9 Calculator Print F8 Help F1 OK esc _Bint ra Heit Ok tese _ 1 000 B Scroll down below the balance sheet to locate Schedule M 2 Analysis of Partners Capital Accounts Enter 27 550 as the balance at the beginning of the year on line 1 of Schedule M 2 The M 2 beginning and ending TE balances for the year will automatically carry to the balance sheet line 21 Verify the following amounts by clicking the Peek button on the button bar to view the form These amounts should automatically carry and print on the balance sheet of Form 1065 page 4 Beginning of End of Tax Year Tax Year e Inventories line 3 18 125 19 225 e Bldg other depreciable assets line 9a 4 794 e Accumulated depreciation line 9b 799 e Total assets line 14 40 730 44 391 e Partners capital account line 21 27 550 24 285 e Total Liabilities and Capital line 22 40 730 44 391 This field carries automatically from Schedule A Cost of Goods Sold This field carries automatically from the De
66. item L since Susan s percentage of profit sharing loss sharing and ownership of capital is 50 Enter 13 500 for Susan s Beginning Capital for item N Partner s capital account analysis The remaining amounts from item N are automatically computed In the subsequent year it will not be necessary to input the beginning capital account because the ending capital account for the prior year will update to the beginning capital account for the subsequent year Enter 5 000 on line 4 Guaranteed Payments to Partner of part III for Susan s guaranteed payment Susan s guaranteed payment and her share of ordinary income will be subject to Self Employment Tax The program will carry the self employment earnings to line 14a All remaining amounts will carry automatically to Schedule K 1 from Schedule K Step 18 Self Employment Worksheet Because Frank and Susan are general partners and their income is subject to self employment tax the total net earnings of 74 722 will carry to Schedule K line 14a In addition the Self Employment Worksheet will be produced The worksheet is a duplicate of the worksheet found in the IRS form instructions To view the worksheet the return must be reviewed Step 21 Step 19 Two Year Comparison Frank and Susan want a Two Year Comparison report so they can identify any significant changes in amounts reported in 2005 versus the amounts reported in 2004 In Step 6 Preparer Options the T
67. its or Review You must select Review when you are ready to Create the E file Select Create E file s and OK Have the taxpayers sign the E File Signature Authorization Form 8453 or 8879 before transmitting returns to IRS States Transmission Process Select EF Center Select Send Clients 1040 Tag clients ready for transmission Select Send Verify transmission date tran number and other information Select OK when ready to transmit Returns will be sent to the TaxAgent Filing Center Transmission Report will appear View print email or save report as PDF Select Close Transmission Process EF Center Send Clients Delete allows you to delete tagged clients from the Send Clients screen Restore allows you to restore a specific transmission containing clients you have previously created e files and sent This is handy if your transmission was unsuccessful Refresh click to view the latest e files available to send Sample Live Mode use to toggle between sample and live return mode Sample returns will be transmitted to the Filing Center but will not be sent to IRS States Live returns will be forwarded to IRS States Acknowledgement Process Acks will automatically appear in EF Center when available Wait 12 hours before checking for federal acknowledgments Direct State acknowledgments can be retrieved in 12 hours State Only and Piggyback state files are acknowledged approximately 2 days after federal file
68. k the form you will notice for item that the box for General partner is automatically checked on the form because this is a General Partnership Enter 7 Individual Active for the Type of entity field on item K Enter 50 in the Master Default field for item L since Frank s percentage of profit sharing loss sharing and ownership of capital is 50 Enter 14 050 for Frank s Beginning Capital for item N Partner s capital account analysis The remaining amounts from item N are automatically computed In the subsequent year it will not be necessary to input the beginning capital account because the ending capital account for the prior year will update to the beginning capital account for the subsequent year Enter 20 000 on line 4 Guaranteed Payments to Partner of part III for Frank s guaranteed payment Frank s guaranteed payment and his share of ordinary income will be subject to Self Employment Tax The program will carry the self employment earnings to line 14a All remaining amounts will carry automatically to Schedule K 1 from Schedule K lt screen gt tut 9 tif ie Bie yem ee piim Gating oriterch patali tpi ASASI Ve vaio Citi lt a ve p 7 a Paai Raves Mein pupe Staten Control aaia cime Ferm 1055 Schedule K 1 Partners Share Part 8 Infomaten Abou te Pannar Pateri ea 4 Brai Enehiseeaes Sheet miben j TETE A he ay Pon cby ee oe i ESH Pa PTT Te o i Trait
69. k to alerts from within the EF Center select Alerts located on Overview tab under New NOTE Refer to other EF Center items located in this section after Step 4 Correcting Rejects EF Center Database The initial database screen gives a quick summary of all available database options Select one of the available options lt screen gt databasemain tif Loi ire ietimi T al Fad Eral l piata At Finy Cantar At JRE tthe States J E ea EL i ELINE lee State e Etats Peiects prcepisd Fegergi Pinpetuck States Perl Ean Frodicti ctae gni rest States AGESOtSO States Egigct Ai Sark Progcts rah Sa Pp SSH or Lest Hame Sraa A Ei vane LE AWmiciwalla Bank Products j G i You will link to a grid listing clients meeting criteria for option selected The grid has several columns noting information related to option selected Click on the column header to sort grid per column description Click a clients name to view detail client information lt screen gt database tif I fined Bacnentt liter fi Tostay Bale GEL Hank piarsan Bock KMH Gr PE 12 05 2005 peat n a E E AF 12 02 2008 At the State SA 3 BEES at the State DAMER AGE TA da 02 2005 iDiano Waid ee MINN Saag UT 12 02 2005 dp 02 2005 Accepted SNS ets es on 12 02 2008 i the Stare Total 28 Pitisalay Alphabet Find a specific client by entering the name or SSN Click on the name to view detail client information Click to view acknow
70. k with the mouse Security Security has been designed to manage access to client information Implementation of the Security feature in your practice is optional However it is highly recommended You can create secure folders that cannot be entered without a password You can also restrict access to other areas of the program Security Setup A B C To setup Security click Workbench Security Check the Enable Security box Enter a Master Password consisting of 6 to 20 characters The password is case sensitive Re enter the password to verify it was entered correctly Select a question from the drop down box Provide the answer to your question This question allows you to open program if you forget your password lt screen gt security1 tif Security Setup Password Protect Login Keycodes Preferences IV Enable Security can also set up secure client data folders Master Password case sensitive 6 ta 20 characters pce Repeat Master Password Prec Question Select a question or enter your own in case you forget your password What is your favorite food v Provide the answer comdogs OK esc Help Security Protect A Click the Protect tab B Tag the items within the program which you want to protect and limit access The master password is required when accessing areas tagged for protection lt screer gt security2 tif Security Setup Protect With Master Pas
71. l lan Nee E Accepted Stain OT ri 35H At Filing Center Federal z Year to Data ry AL ihe Stale Osta Cee OR rrred ee os Descending EF Center Archive After viewing alerts transmission acknowledgment and bank reports you may want to archive them for later access Archiving Items For our example we will archive an acknowledgment report From the EF Center select the Acks tab Tag a report and click Archive The acknowledgment will be moved to an archive location Accessing Archived Items From the EF Center select the Archive tab Select archive item you want to access You will link to a grid allowing you to view and print archived items lt screen gt archivereports tif a RCA Ae brar ae EF Center Helpful Links We know how helpful it is to have ready access to many e file and bank documents From the EF Center Overview screen we have provided access to several helpful documents created by TaxAgent In addition we allow you to link to IRS State and Bank Internet sites Click any of the items listed under Helpful Links in the left column to view and access helpful information 10 lt Screen gt efcenteroverview tif O Helpful Tools sh i Helpful Links ban Gi o E client Search SEN or Last Meme F oo liaiorp Preferences Frm jni 1 Sultiple Office Aanegement SOTA Esra Diak Borat e Click to access helpful e file information E File Se
72. l templates cannot be modified The Closing section has intentionally been left blank Use this section to include additional information The Closing section will print prior to the Footer section Step By Step Customizing a Letter There may be times when the Custom letter template does not meet your needs Let s walk through the steps of customizing your own letter 1a To access the custom letters utility while in a client s return select LTR Instr Ltr from the Forms Pane Click the Click here to create or edit Custom Letters link 1b To access the Custom letters utility outside of the client s return Click the Settings menu and select Custom Letters F Custom Letter Federal Paper Filing Template Ke aa zy os xi Times New Roman x 2 z B 2 u i aje rars o soso 1041 105 1120 11208 z 73 so sso Letters EMO Federal ECO Paper Filing New Letter ta HC Amended H Electronic Filing H EF Extension HC First Extension H Second Extension HC State H City H Other Letters HC Extra Sections Select Section from Tree for displaying and editing Settings Ok lt Insertscreen gt customletter6 tif e Click the plus sign to expand and view letter sections e The Copy icon is used to copy letter sections 2 The 1040 tab should already be highlighted Click the plus sign next to Federal to expand the tree Click the plus
73. ledgment report Move through the screen by page number Check to view only clients with the last name of alpha character selected lt screen gt databasedetails tif VL ora fa Overview Send ients Ads Bank Database Reports Archive Gos Database gt Detois gt Federal i fuck Sirma Aor apii RTH TIHA fuck Mire 1 6 2005 MH sed Pits Pais Pied Amaii 317 Debi Indican i 4 riadim e Select from dropdown to view detailed federal state and bank information e Select History to view a list noting the multiple times a client s return has been sent to IRS State e Click to view reject code information if applicable EF Center Reports We have provided several e file and bank reports to help manage your clients information Select one of the reports lt screen gt efreports tif Endra Confirmation Lather Sate Camtmaton Latter Trait i Summan Ley Pe ee sere Proce Des biursemernts Denied HAL ond RAL scarce DUTT Ing Bank Products paar Fees foe Bark Apad Bere Fests You will link to a screen asking you to enter various report limitations Select report by SSN date range type and status and sort options Click View to create and view report You can Print Email or Save report as a PDF file lt screen gt reportsefstatus tif Feporth imi Aicreaatt ln ernot tapk Overview SendGients Ack Database Roparts Archie Clase Reports gt EF Status Accepbad Fed ea
74. lick the Switches tab and uncheck the Hide Client Number in Client Selection box Enter the Client ID as ABLE9999 We used the first four letters in the partnership name and the last four digits of the EIN NOTE The Client ID field is an optional entry It may be left blank or any combination of letters and or numbers may be used 17 lt screen gt tut4 tif it New 1065 Client F2 First available client number start with j C F3 Next client number after end of list C F4 Input a client number Client No fi Client ID Partnership Name AbleBaker Book Store Partnership Name2 EIN 10 93999999 Address 334 West Main Street ZIP 20904 OK Cancel Suppress Client Numbering Required Field E Enter the Partnership Name1 as AbleBaker Bookstore An input field for the second name if applicable is provided F Enter the EIN without dashes as they are already provided AbleBaker Bookstore s EIN is 10 9999999 G Enter the address as 334 West Main Street NOTE There is not a field for the city and state Simply enter the zip code and the program will insert the city and state on the General Information screen If the zip code represents more than one city the program will open a window with a selection of cities for that zip code Select the correct city by highlighting it 1 AbleBaker Bookstore s zip code is 20904 lt screen gt tut5 tif 1E Multiple Ci
75. luation date automatically calculated six months after date of death can be overridden line by line on grid e Section 2032 Alternate Valuation set to value at date of death if no entry is made e Arizona and California no longer require returns as of January 1 2005 due to repeal of federal credit for state death taxes included in 2004 program e Florida available e Utah available 709 Gift Tax e Allows for input of the spouse s return for community property and gift splitting and generates the spouse s return e Automatically calculates marital foreign spouse and the charitable deduction e Automatically deducts 50 for community property e Automatically sorts gifts chronologically and by type that are subject to both the gift tax and GST e Automatically splits gifts if electing gift splitting e Calculates the GST exemption allocation e Provides a summary of the GST exemption used in prior years 990 Exempt Organization Reporting e Depreciation Worksheets are linked to the 990 990EZ 990PF forms e Generates Form 990 990EZ 990PF 990T 990W e E filing capability MeF e California available 5500 Employee Benefit Plan Reporting e Automatically generates Summary Annual Report for pension plans and welfare plans 4 e Produces all schedules and forms including 2 D barcodes e Generates Form 5500 5500EZ TaxAgent Other Products TaxAgent also offers the following product to help with your tax preparation
76. made in default fields will override default settings Remove Default This function allows you to remove the default from the field you are highlighting The default is removed for all returns you process from now on Move highlight bar to desired field select Utilities Remove Default Print Input Screen Will print the input screen that is currently highlighted Settings The following items can be accessed from the Settings pull down menu lt screen gt settings tif Settings gg Control Data JD EF and Bank Settings Preparers Initial Configuration Wizard Common Forms Colors MI Libraries Employer Library RTN Library Defaults Audits Suppressed Invoice Settings Ctrl I Discounts El Printer amp Delivery Settings dla Distribution Sets Custom Letters Control Data Reference the Enhancing Your Performance Control Data section EF and Bank Settings This is where control information for Electronic Filing and Bank is entered Reference the Filing Returns Electronically section Preparers Enter information here for multiple preparers in the same office Initial Configuration Wizard Reference the nstallation Initial Configuration section Common Forms This is used to change or select forms you would like listed while working in a client s return This list is located on the Forms Pane under the Common tab You can view each user s Common Form selections and modify your own This is ha
77. me and User Name will already be filled in If you want to make changes delete the entries and type in the desired names Enter a new password and verify it When finished click Next NOTE For security reasons we do not recommend the sharing of User Name and Password information 5 Enter your e mail address for recovery purposes and verify the e mail address Select a security question and provide the answer 6 Click Finish Microsoft Internet Explorer E Mail Address Please provide a valid e mail address where your user name password will be sent if you forget them E mail nicole nielson netzero c Verify E mail nicole nielson netzero cd Security Question Please provide an answer to one of the security questions Question pet s name Answer Sparky Done Internet ie 7 You have successfully completed the Security setup and are now in the E File Center Ly Helpful Links Lae Cut Cllest Search SEN or Last Mere TRS is we DoE a SE ie Te SETE T Aelpsse Dates Refund Cee Cher Preferences 5 Send Clete lita EMLA ta n aerd ikenta Frm in Tma Sultiple Offise Aanegement e Click to add or edit additional users Click to reset or recover existing passwords Click to deactivate Remember Login feature 8 To set up additional Users click the Logins link under Security on the Overview screen NOTE This link will only appear if you are logged in as the
78. mplete 14 A screen will appear stating your new login has been added Click the Finish button NOTE The owner of the new user account will be prompted to reset the User Name and Password when logging in to the E File Center for the first time The Administrator will need to inform the user of the User Name and Password which is password 15 If you need to make changes to existing user logins click the Logins link under Security on the Overview screen 16 Click the Edit Login link for the user you wish to edit 17 You have the ability to change the user s first name and last name create a new user name reset the password and edit access to areas of the E File Center Make the applicable changes and click Submit 18 You have the ability to reset a password or recover an existing password To perform these functions click the Password link under Security on the Overview screen Reset Password Laava blank if yau sesh to kaap your existing passed Password must bo at least amp charactors but cannot emcend 15 characters Pasaword must have gl lee one umber or syrekol and one charter haw pastecrd verity parraad E Mail Addregs Mosse prowde a waid e mail address where your user mamo passecrd wil bo sent if you forget tham E mail mgengha lacah net Werfy E mail rogerntbalsouth nai Security Question Alesse proide an answer to one of the security quests Question pets nore Anserar Fide re en 19 Your em
79. ndy if you want to restrict users to certain forms Colors reference General Instructions Colors Libraries Ctrl G When you start to type an entry that resembles one you typed elsewhere in the program TaxAgent can auto complete or auto fill the entry for you in certain fields such as Interest Income description on Schedule B Each System will have a separate library To view change or delete entries that have been stored in a library select Settings Libraries Employer Library Employer information entered on W 2s and 1099Rs is stored in the Employer Library When entering W 2 and 1099R Employer ID Numbers the Employer s name and address will AutoComplete if the EIN has been entered previously You can add delete or change information by selecting Settings Employer Library Defaults Select this option to view all defaults You can also delete defaults Audits Suppressed View all Audit Statements you have chosen to suppress while working in Clients To remove audit suppression tag the desired audit s and click Remove The audit will be restored Reference General Instructions Helpful Hints for instructions on suppressing audits Forms amp Invoice Settings Ctrl l reference Invoice Discounts Enter discounts you want applied to Invoice pricing Enter a code description and the discount amount or percentage While working in the client select INV Invoice and enter the applicable code in the Di
80. ne 22 49 722 Step 10 1065 page 2 Other Information Schedule B A Inthe Forms Pane click on 2 1065 Pg 2 1 The AbleBaker Bookstore is a Domestic General Partnership which is the default in the program Therefore an entry on line 1 of Schedule B is not necessary In addition the partners will all be treated as general partners on Schedule K 1s The questions on lines 2 through 11 are answered No for the partnership which is the default in the program Therefore entries on lines 2 through 11 are not necessary Also question 12 which is the last question on Schedule B has to do with foreign partnerships and is not applicable for this return Step 11 1065 page 3 Schedule K A Inthe Forms Pane click on 3 1065 Pg 3 B The partnership has several items that are required to be reported separately on Schedule K 1 Click the Interest grid button on line 5 Enter the Interest Income Description of Maryland Municipal Bonds In the Total Muni Bonds column enter 50 Note that the resident state of MD appeared in the State column This state can be changed to indicate the state that issued the bonds if needed The tax exempt interest will carry to line 18a of Schedule K Click the Close button lt screen gt tut13 tif EH Interest Income Grid Name BSINT File Edit Tools Help interes Income Desoinion 1 InterestInc 3 US Govt Total Muni Not US Govt Savings Bonds Bonds Maryland Municipal Bonds 50 MD
81. ng a secure folder you must create a new client in the secure folder and review the return before the keycode will log and appear in the Keycodes tab Security Preferences A Click the Preferences tab B Check applicable box es to secure viewing of and access to clients by SSN EIN This applies to Client Selection and Management lt screen secunity6 tif Security Setup Require SSN EIN entry to open clients F Require SSNZEIN entry to view clients in Management OK esc Help Secure Folders A To create a secure folder click the Clients button From the folder drop down box select New Folder Enter the folder name and check the Create Secure Folder box Click OK B Enter the Master Password and click OK C A screen will appear noting the keycode automatically assigned to the secure folder Click Print to print the keycode or write the keycode down and click Close You will need the keycode in order to access the secure folder Keycodes are case sensitive Secure folders will appear with an asterisk behind the folder name D After accessing a secure folder a padlock icon will appear in the lower left corner of the Client Selection screen If you need to leave your computer click the padlock This feature hides names on the Client Selection screen Click the padlock icon again enter the Keycode and click OK Clients will reappear on the screen if you did not secure this feature under Security Preferences
82. nk lemzed Dechichons fet Schedules E lnleiech arr Dodraiy Drier fw Schedule C Paghi o Logs Fiom Butrest fet Schedules Capta Gani amd Lottet O Sake a Hame bae of Hame E SchE Pig 1 Supplemental neon awd Last Pg 1 LSehE Pg 2 Supplernental Income ard Lose Pg 2 fe Sch EIC E amed Income Credi fet E Hmaleg E Himaleg igk chee O iiaii domas Extenan ol Time bo File 2 O Sehedude F Profit or Less From Faring Schedule H Houehold Emplument Taret OI Sehedivke J Faa icona Aenea g OPTEI Asci E 1 Racared iom Painetipt CS E1 Reed E1 Aecared iom 5 Coipotahore O F E1 Aged E 1 Repeeved Inom Fiducenes O Sehedude A Erat ta the Elderly a Disbad F O Schedule SE Sel E mpioimani Ta Delauts gkiesc NOTE To password protect the Common tab reference the Security section GEL ENP EEL In the 2004 Demo program the Used tab only listed forms containing input entries For the 2005 program you have the option to add forms to this list before entering information on the form From the Form tab right click on the form you would like to add Select Add to Used in this Return The forms will appear in the Used form list This feature is helpful to ensure all information has been entered Summary Pane The Summary Pane displays client information such as AGI EIC Net Tax Total Payments Refund etc As you enter information in the client s return the Summary Pane will display r
83. note transmission status Click Close if status displays Success If transmission was unsuccessful Click Try Again Communications Transmission Completed Transmission Window Checking File Listing for System Operations System Operations is Current Checking File Listing for OP OP is Current Cleaning up transmission Transmission Results Status Date Time Success 12 08 2005 03 34 PM MT Transmission Time 0 0 minutes F Close Window After Transmission Testing Your ISP TaxAgent is programmed to recognize and automatically launch your ISP If you would like to perform a test of your ISP through TaxAgent select Help Test Communications Upload There are three TaxAgent Upload features Upload a client to TaxAgent Support Team while in the return If you have questions on a client s return you can upload the client to TaxAgent and attach a note to the client file When prompted write a short message and TaxAgent support will research the problem and e mail or call you back with an answer E mail or call TaxAgent to alert them that a file has been uploaded TaxAgent is not automatically alerted when you upload a client file with or without a note To use this feature select Utilities Upload Client to Support Team To attach a note click Yes Type the Note Click Done and the internet will launch Upload client s to TaxAgent when you are not in the client s return This is a great feature if yo
84. nt Selection screen or the idle mode screen will appear tA General Instructions We have designed TaxAgent to look and feel like other Window based programs Movement throughout TaxAgent is based on Windows functions you should be familiar with For example click with your mouse to select an item hold the mouse key down on a part of the screen to move expand or reduce the screen drag the scroll bar to move the form up or down This manual is to be used as a reference item You can also find answers to many questions by clicking Help within TaxAgent or F1 key on any input field When TaxAgent is started the screen comes up in Client Selectionautomatically appears Double click on a client or select New client from the left side of the Client Selection screen For information on entering a new client reference the Tutorial section You are now viewing the Workspace There are three bars within the program iie reread fis DE yes Mine A fap weisei priina jiii P EBEA ta t ee Migi ei P ieie b Pesh ce izi F f Vn Ep LPI Lm Pe aL lere we Mey as fos I f z FE Button Bar The button bar contains icons that link to the most frequently used functions The first four icons EF Cntr Mgmt and Clients link you to the main tax preparation areas The icons Fed State and Detail link to input forms used to enter client information Peek and Review are used to calculate the return Audits lets you review t
85. o the selected set but all forms are available within each set Be Distribution Sets Select Set to Edit _ r Current Set No Set Selected Government Paper Filing System 1040 v State Federal x eee Note To move a form left click it with the mouse While holding the left mouse button drag the form to the desired location The City Paper move up down buttons below can also be used Extension Signature Paper Signature EF Signature Custom Casey EF Signature Preparer Preparer Review Preparer File Client Client Copy Ptr Shr Benf Sch K 1s Other m Options For No Set Selected Watermark max 50 chars Separator Page Upper Page Mark Mark 7 letter Print Page Number Client ID Date amp Time e Highlight the set to view or edit e Select the desired System and State e Click to expand each group and view the forms e Click this button to create a custom set Step by Step Customizing Sets 1 To customize sets click the Settings menu and select Distribution Sets 2 Highlight the desired set in the Select Set to Edit column x 3 From the drop down boxes select the System and State 4 Tag the desired form groups Groups include O O O O O O Correspondence Federal Forms K 1 Forms Separately Filed Forms Worksheets Statements and Overflows State Forms 5 Click on the plus sign by the form group name to expand the group and
86. om the Print drop down box and then click the Print button D To print only one specific form highlight the form make sure Page is selected in the Print drop down box and click the Print button E To save the return as a PDF file tag the forms you want to save and click the Adv button In the Save section of this screen select lt Tagged gt from the Set drop down box Click the Browse button to find the appropriate location Click the Start Job button NOTE Saving a return will save a PDF file in a location that you specify on your computer Step 24 Exiting the Return When you are finished printing or viewing the return use the following steps to exit A Click the Clients button located on the button bar This will take you back to the Client Selection screen B Or you may click the Close button on the button bar This will close the client You can then exit TaxAgent by selecting Exit from the File menu Congratulations You have just completed the 1065 Tutorial TaxAgent Other Systems 706 Estate Tax e Descriptions automatically word wrap to fit form e Distributes remaining estate to heirs beneficiaries equally if no input or by specified fraction percentage or amount e Produces all schedules e Schedules A through information can be carried to Schedule M automatically by entire amount fraction percentage or specified amount e Schedule U limit calculated automatically e Section 2032 Alternate Va
87. ome loss per books of 49 615 was computed based on the above amounts Step 15 1065 page 4 Schedule M 2 A Scroll below Schedule M 1 to locate Schedule M 2 B The 27 550 for the balance at the beginning of the year for the Partners Capital Accounts was entered in Step 13 This amount will carry to Schedule L In the subsequent year it will not be necessary to input this amount because it will be updated and reflect the prior year s ending balance amount On line 3 Net income loss per books of 49 615 carried automatically from Schedule M 1 line 1 On line 6 Distributions of 52 880 carried automatically from Schedule K line 22 Online 9 Balance at end of year of 24 285 was computed based on the above amounts Step 16 Schedule K 1 Frank W Able We need to enter Frank s K 1 information Inthe Forms Pane click on K1 Partner K 1 B Notice the Prior Next and 1 of 1 buttons at the top of the input screen This screen is set up as a multiple input screen where up to 10 000 K 1s m UO QQ nm may be entered Enter Frank W Able as the Partner s name top line Enter Frank s Street Address as 10 Green Street Enter the ZIP code as 20904 Select Silver Spring as the city Enter Frank s SSN as 123 00 6789 H Check the box to indicate that Frank is the Tax Matters Partner The required information will be carried automatically to page 2 of the 1065 If you Pee
88. onically box is checked The DCN will print at the top of Form 8453 or 8879 The DCN will be the same for both the federal and state return The DCN is divided into 3 parts The first six digits are your EFIN the next three digits are the batch number the last two digits designate the sequence of the return within the batch Before you proceed select Control from the button bar On the Firm screen enter your Default EFIN If you are operating on a network and have one EFIN or only one stand alone computer you are done Control Data Firm Access Drives Switches Startup Suppress Forms Audits The four highlighted key lines must be entered exactly as shown on your license notice Account Number GA70000 Charge Number 98519 Serial Number 1628 3713 3719 5136 Firm Name Tax Preparer Contact Name Teresa Taxpayer Street Address 350 North 400 West Zip 32222 City Jacksonville State F Firm E mail Address Employer ID No Web Site Default EFIN Telephone t pe fi Service Bureau Fax p OK esc Cancel Help If you are using several stand alone non networked computers you will need to select the Settings EF and Bank Settings Enter your EFIN on line 1 Enter a different Start Batch number on each computer A batch represents 99 returns The Ending Batch number is optional but is helpful if you want to make sure two computers do not run into the same range of DCNs A
89. p Security 5 of 10 Master Password E to 20 characters aa Repeat Master Password a Select or enter a question in case you forget your password x Provide the answer __ IV Require Users to Login upon Startup Recommended IV Require Master Password to open Client File Editor IV Require Master Password to open Support Tool Note Please remember that the Master Password is case sensitive More security features can be configured by selecting Security from the Workbench menu i Cancel Help Initial Configuration Logins 6 of 10 Configure users and passwords below More user options can be configured by selecting Security from the Workbench menu Add User UserlD Password Delete User Cancel Help 5 Bank If you are a bank participant select the applicable bank Click Next If you are a non bank participant click Next to skip to step 7 tn Initial Configuration Bank 7 of 10 If you have signed up to use Bank Services please select your bank below C Santa Barbara Bank amp Trust C Bank One C HSBC Bank USA N A None Cancel Help 6 Printer and Delivery Settings Verify that the correct printer is indicated in the Printer drop down box Click Next Initial Configuration Printer 8 of 10 You may set pour printer on which tax forms should be printed below if different from your default printer Printer HP La
90. pload process You can move the radio button between assign next number or overwrite number Click Download to launch internet Download Clients SS File name to Download Client files will be downloaded into the current folder Choose one of the following options in case a duplicate client number is detected Assign downloaded client next available SSN EIN C Overwrite existing client if using same SSN EIN Download Cancel Help Install or Upgrade from the Internet You can access initial files and updates through the Internet Select Installations Select Install Systems for initial installs Select Upgrade Systems for revisions Tag Systems or States needed 2005 System Installation 1 0 19 Upgrade Systems System Operations Required Management amp Letters Required Depreciation Required Federal 1040 Individual Federal 1041 Fiduciary Federal 1065 Partnership Federal 1120 Corporation Federal 11205 S Corporation Federal 706 Estate Federal 709 Gift Federal 5500 Benefit Plan Date amp Time 12 7 2005 12 51 45 PM 12 3 2005 4 02 43 PM 12 2 2005 11 32 50 PM 12 7 2005 8 28 03 AM 11 16 2005 3 37 28 PM 11 18 2005 11 53 48 AM 11 21 2005 9 50 27 AM 11 18 2005 5 53 27 PM 11 10 2005 9 25 55 AM 11 22 2005 5 07 42 PM 11 25 2005 9 43 50 AM Federal Universal Shared Forms 11 29 2005 4 49 17 PM Alabama 11 23 2005 1 23 06 PM Check Server Versions Drive C working Total Byte
91. preciation Worksheets This carries automatically from Schedule M 2 lt screen gt tut 7 tif LEN feel of ery eee ee ia epee rir a pee tm erie td metin th Cine mmaa Legis eral Caged IE dort mea i iE borgagmi raini nord ure i y __ 1 Pe cure antes ib dieren eee IE reget fetes eed corer W One ali D Bete cope soe a ee ne et Quel bance anes iniormaion vu O gl Fan E NOTE In the subsequent year the beginning balance sheet amounts will not need to be input because the amounts will carry from the prior year ending balance sheet amounts to the subsequent year beginning balance sheet amounts during the Update process The detail statements will also be updated Step 14 1065 page 4 Schedule M 1 No entries are required for the AbleBaker Bookstore because all the M 1 items carry automatically from other parts of the return 13 Scroll down to the bottom of the input screen to locate Schedule M 1 Reconciliation of Income per Books with Income per Return Online 3 Guaranteed payments of 25 000 automatically carried from page 1 line 10 On line 6 Tax exempt interest of 50 automatically carried from page 3 Schedule K line 18a On line 7a Depreciation of 343 automatically carried from the Depreciation Worksheets Online 9 Income loss of 74 222 automatically carried from page 4 Analysis of Net Income Loss line 1 On line 1 Net inc
92. r any system NOTE Refer to Internet Service Provider Help with TaxAgent section for additional Help utilities About TaxAgent Select Help from the menu bar and About This option lists pertinent license agreement information applicable to your TaxAgent program Account Number Charge Number Serial Number and TaxAgent version information can be viewed Information can not be entered or corrected from this selection Changes must be made in Control Firm TiC States and Cities TaxAgent provides Individual software for all 1040 states with state tax as well as the Florida tangible intangible tax Business software is available for all 1041 1065 1120 and 1102 S states with a state tax City software is available for select 1040 cities Movement through federal and state returns is similar State To access State and City input from the Federal input click State on the button bar or press F4 The State defaults to the two letter state code entered in the Federal return address field To access 1040 City Input click the Cities button and tag the desired city checkbox Each city is identified by a 3 letter city abbreviation The city selected will then be listed on the State City drop down list To return to Federal input click Federal on the button bar or press F2 State and City Access ewer Horta An ao bidla Lame FIT ee Multiple State Processing TaxAgent can process multiple state returns in one client file for the 104
93. rm 1040NFR Page 4 16 Form 1040NR Page 5 _17_ Dependents Attachemnt 18 Form W 2 Summary Portrait 4 4 4 4 4 4 4 4 Bi iS 20 Taxable Refund Worksheet 0 00 21 Reserved 0 00 22 Form 1099R Summary Portrait 0 00 23 Form 1099R Summary Landscape 0 00 24 Simplified General Rule 0 00 25 SS Benefits Worksheet 0 00 26 Reserved 0 00 Select State Federal 515 Forms Fonts amp Borders OK esc Print F8 Help NOTE While working with the invoice prices you can bill by amount per item or both If you want to override invoice settings for a specific client while working in an individual client return select Inv Invoice from the Forms Pane You can enter specific amounts percentages discount codes payments etc To enter discounts click the Discount Library link or click the Settings menu and then select Discounts Enter the discount code description amount or percentage To activate the discount codes enter the corresponding discount code on the Inv Invoice screen in the Discount Codes section lt screen gt invoicescreen tif fvodce Options DETALET BASE pete a emindi e rhei aed Pope bey eed h Bae pner eed Be ST ep Pris SLD TLLE TS MPATE priim iby Boe baba pre Lae gee bee pee ey ee 1 ia Te Wikre iy cid rot ker Porting Be ha rea Daa ia DaTAAAT TEE ee a a A Da HOT dan ee fis Pere pi Femi riani an eye C7 Pr HOH DETALET marire Con Frej miine ba fe
94. rmation There are a few differences in the 1120 1120S business e file process They include e PIN must be used e There are no scheduled drain times IRS will drain continuously TaxAgent will have scheduled drain times e The IRS will acknowledge returns within 1 2 hours TaxAgent will have set acknowledgement receipt times e Reject codes are called Business Rules They will be ina different format than the 1040 reject codes They are very defined and easy to understand TaxAgent 1120 Drain Times Ogden 8 00 am amp 3 00 pm MST M F IRS 1120 1120S E help Phone Number 1 866 255 0654 Ogden Form 8879 C and 8879 S Retention You must use the Practitioner PIN program You will need to have the clients sign Form 8879 C or 8879 S before transmitting the return These must be retained by the ERO for 3 years 1120 1120S IRS E File Application To participate in the IRS 1120 1120S e file programs you must file Form 8633 with the IRS Check box 1120 under question 4 State Business E File Many states are implementing Modernized e File MeF for the 1120 and 1120S systems TaxAgent plans on having the following state systems available in 2005 1120 AL CA MA MD M SBT 1120S MA MI SBT Implementation and start dates vary by state We will pass information to you through Alerts as plans are finalized 1g Massachusetts Corporate E File Beginning January 2005 all Massachusetts Corporations subject to the corporate e
95. rvice Centers The IRS has five 1040 e file processing centers Andover Austin Fresno Kansas City and Philadelphia For you the user service center assignments will be handled through the program 1040 e file processing and Help Desk phone support will be handled at two centers 101 e Andover will handle Andover and Kansas City e files e Austin will handle Austin Fresno and Philadelphia e files NOTE TaxAgent has included e file for Form 2555 Foreign Earned Income Exclusions All e file returns containing Form 2555 will be e filed and handled through the Philadelphia center IRS E Help Phone Number The IRS has one centralized toll free number for e file help The e help number is menu driven Proceed through appropriate prompts in order to speak to your applicable e file center You can speak to a live attendant or leave a message The IRS e help telephone number is 1 866 255 0654 Form 8453 Mailing Addresses Form 8453 must be mailed to IRS within 72 hours of IRS acceptance status If the Practitioner PIN Form 8879 is used this step is eliminated The following addresses are for regular mail delivery To send mail overnight reference IRS Publication 1345A e Andover will handle 8453s for Andover and Kansas City areas e Austin will handle 8453s for Austin Fresno and Philadelphia areas IRS Andover Service Center IRS Austin Service Center Attn Shipping and Receiving 0254 Attn Shipping and Receiving 0254 Re
96. s Select EF Center Select Acks Under the New section Acks that are bold and highlighted yellow are new and have never been viewed Viewed Acks will appear as regular text without a highlighted background To view Ack Report double click on the Transmission date or tag the Ack and click View Ack Report s will appear View print email or save report as PDF Z e To view Confirmation Letters double click on the word Confirmations Double click on the client name or tag the clients and click view e Confirmation Letters s will appear View print email or save letter as PDF Upon exit you will be prompted to mark confirmation letter as printed emailed with today s date Select Yes or No e To remove Acks from the Acks Current screen tag the Ack and click Archive Acks will now be available for view under Archive Acks NOTE EF Confirmation Letters are a substitute for Federal Form 9325 Handling Rejects If IRS State rejects a return determine the error Error codes are explained in detail on the acknowledgment report You can also view error codes under EF Center Overview Pending column Rejects Double click the name or tag the client and click View Click Rejected to view explanation All ERO s receive Publication 1345A from IRS States distribute an EF Handbook These publications list the error codes and or show all EF forms with field numbers The majority of federal EF errors are related to SSN Name problems
97. s to Install 0 0 MB Available Disk Space 26 740 58 MB CD ROM Drive ld Export Jv Upgrade From Internet Upgrade From CD Rom Close Help NOTE The more often you upgrade the smaller the download file Per Unit Process PUP Codes eat Pups If you purchased a limited use package or need to process States or Systems not purchased a PUP code must be obtained in order to process the return There are two ways to obtain PUP codes Retrieve a PUP Code while in the return To retrieve a PUP code while in a client s return click Pup on the button bar or select Utilities Get Pupcode The pup code screen will appear noting the resident state you entered on the Federal General Information screen Type or select from the drop down menu additional two letter state abbreviations if required Input states in the order they will process Click Get PUP s and the internet will launch amp NOTE The Resident State must be entered on the federal General Information Screen in the address area The Resident State will always process last to ensure credits carry properly States to Process and Pup Codes pad is State PupCode Suppress State EF File Resident FL ACCESS 5 z E E E By i E E E E z Federal Pup ACCESS Advanced gt gt Pup History Get Pup s Remove Close esc Help Retrieve PUP Code s when you are not in the client s return To obtain PUP cod
98. scount Code field Custom Letters Reference nstruction Letter Custom Letters section Workbench The following screen items can be accessed from the Workbench drop down menu Workbench amp Track Open Clients Client File Editor Support Tool List Business Codes E Command Line 8 Security Workbench The items listed under this menu with the exception of Security are utilities used by TaxAgent support staff They are used to resolve problems or questions you may have Print Features TaxAgent tax forms are approved for filing by the IRS and State agencies All of our forms print in a professional laser or PDF format We provide utilities that allow you to print federal and state returns together and separately batch process a group of clients and print blank input and output forms We have a utility called Form Filler that provides supplemental forms not supported in the tax systems Tax year 2005 Federal and State forms and laws are in various update stages You will notice a DO NOT FILE message on several forms Included in this message is the date you can anticipate the release of the form If the current date is later than the date printing on the form use the upgrade feature to get final forms that are approved and ready to file or the revised release date Please do not call Technical Support with questions on forms until the DO NOT FILE message is no longer displayed Several states have added 2D bar
99. serJet 1100 Test Print Printers Cancel Help x1 7 System Updates If you have last year s program installed on this computer tag the boxes for the options you wish to update and click Next The update will take place Click OK when it is complete If you do not have last year s program installed on this computer the System Updates screen will be bypassed Initial Configuration System Updates 9 of 10 Many settings can be updated from last year s program Please check the items that you would like to update below Employer Library Preparer Data Custom Letters Libraries Invoice amp Discount Library Defaults Custom Slip Sheets M RTN Library 7 Distribution Sets Update from drive Ic last year s Working Drive Cancel Help Initial Configuration Other Settings 10 of 10 There are many other settings that you should look at when you can Check out these items in the Settings menu at your convenience Control Data EF and Bank Settings Preparers Invoice Settings Printer amp Delivery Settings Distribution Sets Custom Letters Thank you for using Great Tax 2005 We hope you have a great experience and that the software will make your life easier lt Back Finish Cancel if Other Settings Read this screen for other settings that can be completed at your convenience Configuration Complete Once the System Updates are finished the Clie
100. sp ili i T 1040 mmi PALA lt Mficial Paymen 3 3 Aap 272 925 ene PEELA iceman To sBathec Barvice Provider wili ye A convenience fee bassi om the amount Gf the tex paymant fou arse miku rReGain the oentimeation masher giwHi wich your tam Cera rD WOT mail form 4508 te the Ths T a gt Click to print Arrow to the print button in the picture gt Select print option from combo box Arrow to the combo box in the picture Internet Service Provider ISP All system communication with TaxAgent will be done through the Internet You can use the ISP of your choice Standard dial up service will work with our program however if you can obtain a high speed connection such as cable modems or DSL your wait time to accomplish tasks will be greatly reduced Many program features are only available when connected to the internet Launching Your ISP You can use the Internet for multiple types of file transfer The following steps are applicable to many file transfer routines within TaxAgent We will describe the steps here so we do not have to repeat them A If an Internet connection is not established a Communication screen B C D E Select a TaxAgent Internet option i e Clients Upload or EF Cntr will appear Connect to the internet and Try Again If your Internet connection is already established TaxAgent will launch automatically File transfer will take place After file transfer the screen will
101. stem Selection Drop down box allows selection for specific e file systems Systems include 1040 1065 1120 1120 S and MI SBT 4 Return Mode There are three e file return modes a Standard Use when working with live e files a Ext 4868 Use when working with live 1040 extensions a Samples Use when working with test e files Items in this mode will be passed to TaxAgent and will not go to IRS States Banks 5 New Lists and links to new items that have never been viewed 6 Client Search Allows you to track returns by SSN or EIN and view detail client information 7 History Keeps a running history of the number of e file returns that have been accepted as well as bank products that have been approved 8 Security Allows you to secure EF Center options by user 9 Pending Lists and links to returns that need to be sent or are at IRS State unresolved rejects and returns waiting bank approval 10 Preferences Allows you to change how firm information will print on EF Center reports vs pulling firm data entered in TaxAgent 11 Multiple Office Management Allows you to access and manage multiple office information and reports for users with multiple accounts and offices 12 Helpful Links Links to helpful IRS state and bank information and other websites NOTE Alerts has been expanded to include items other than e file information We have moved the Alert button to the main TaxAgent screen To lin
102. stom Letter screen 7b If you accessed the Custom letters utility outside of the client s return click the Clients button highlight a client and click Open Select LTR Instr Ltr from the Forms Pane 8 To print custom letters you must check the Print Custom Letter box 9 Note that TEMPLATE NO LETTER NO EXTRA SECTION and NO OTHER LETTER are defaults for the Custom Letter categories The Template letter will print where Template is noted To include other letters click the drop down box and select the desired letter For our example click the drop down box for Federal Paper Filing and select the Sample letter 10 When you click the Review button and the return is processed the letters selected will be listed as part of the return 11 Tag the letters and click the printer icon NOTE You may insert a picture into a Custom letter by using the copy Ctrl C and paste Ctrl V functions For example we have found that many preparers like to paste their logo into their letters Copy an image from another application Place your cursor where you would like the picture to appear in the letter and paste it in Federal Extra Sections You have the option of adding three extra sections to the federal letter Scroll to the Federal Extra Sections area at the bottom of the Letters screen We have included text for the following extra sections Inability to Pay Balance Due Charitable Contribution gt 250 and Other Services Provided
103. stom Letters will only print if indicated To generate Custom Letters from within a clients return select LTR Instr Ltr from the forms pane Under the Custom Letter heading check Print Custom Letter Due to the extensive letter changes custom letters created in your 2003 program cannot be updated to your 2004 program Use standard copy Ctrl C and paste Ctrl V functions to manually transfer letter sections Cusin Letters ESE Ko bn aes ben a lee rd eee es Pee i ee hy Pe ee TT Tapase oe ame tan ap ereen Sa Eru ee R aE D EE F EE Lis mip p rpi Huma wew p i a B D Bo E o o E BI D o E a io e e TT La FE ETE Ee Te fe coma ore Tal E Wp F RTI Le lt Insertscreen gt customletter1 tif e Click to access custom letter screen e Check to print custom letter e Click to access custom letter utility allowing you to create and edit custom letters Custom letter templates are included in the program Default templates include o Federal E filing Paper Filing Amended EF Extension Extension o State E Filing Paper Filing Amended First Extension Second Extension EF Extension o City Paper Filing Amended Extension Templates will only generate if they apply to the return ex Amended template will only print when preparing an amended return NOTE Each template contains numerous sections Letters and sections can be copied and then modified Origina
104. sword Client Management Restore from Backup Delete in Client Management Custom Letters Control Data Custom Statuses Preparers Defaults E File Center Client File Editor Client Selection Recycle Bin lt a eo ew a Common Forms r r r Invoice Prices and Discounts Distribution Sets E Iv Support Tool OK esc Help Security Login A Click the Login tab B If running on a network you can limit individual access to certain drives and folders To do this check the Require Users to Login upon Startup box Once selected each user will have to supply a password when opening the program lt screer gt secunity3 tif 2 Login to 2005 Tax Enter your username and password and press enter to login to 2005 The master password may be used to access the security settings User Password Preparer C Master Password a Login Cancel Help C A list with User IDs within the office will appear You can add or delete users using the corresponding buttons at the top of the screen Enter a password by the user s name Make sure you let the user know the password The password must consist of 6 20 characters and is case sensitive D Check the Limited box if desired E If the user is Limited select the Drive and Folder the user will be able to access Limited users only have access to the Common Forms tab on the Forms Pane and they can only use the Clients Fed and State
105. t of refunds on the Overview screen click the Refund Cycle Chart link E File Extensions Form 4868 Automatic Extension of Time can be filed electronically The e file extension process works like 1040 e file with the following exceptions 1 Check the File Form 4868 extension electronically box on the Gl screen instead of File Federal Return Electronically 2 Check Prepare Extension With Full Return Form 4868 or Prepare Extension Only box on the EXT 4868 screen 3 On the E File Center Overview screen select System 1040 and the EXT 4868 tab Extension filing is available February 11 through April 23 2006 Later in the tax season you can e file your clients 1040 return When you do this remove the X s in steps 1 and 2 above Check the file Federal Return Electronically box on the GI screen Follow e file instructions for 1040 returns Regular TaxAgent Extension Drain Times Andover and Philadelphia 9 00 pm MST Austin and Kansas City 10 00 pm MST FYESNO nae ann Seree de a tes 12 00 am MST 1a February 1 March 31 2006 1 drain MWF April 1 April 23 2006 1 drain daily NOTE TaxAgent will notify all users via Alerts if drain times change From the EF Center Overview screen you can also click the Drain Times link 990 E File In tax year 2005 the IRS mandated that all 990 Exempt Organizations with assets of 100 million or more and filing 250 federal returns must fil
106. te Tagged verify information and click Yes Click Yes to compress the remaining input forms Clicking No will delete the information on the form leaving a blank form PF Delete Rename Multiple Forms x 4 Name 1 E Jones Computer Consulting NOTE When forms are compressed they automatically renumber Manually change the multiple number for any information carrying to a renumbered form i e Form 4562 carrying to a specific Schedule C Rename Multiples To rename a multiple click on the List Box select lt Delete Rename gt Select the Form s Schedule s that need to be renamed Drag the mouse to highlight the field or press the Backspace key to delete Enter information and click Close to save E Delete Rename Multiple Forms x 4 Name 1 E Jones Computer Consulting NOTE New forms are automatically named as entered If the name is changed on any new or updated multiple form the auto name will also change gt Tools The Tools feature is used to manage your Client Selection screen It has two options Rebuild Client Selection and Reset Columns The screens are in a Wizard format To access select Clients Tools Move radio button to option Follow instructions on the screens Client Selection Tools Rebuild Client Selection rebuilds the listing of clients in a current folder or current drive C Reset Columns set column settings back to default gt Audit TaxAg
107. the program in order to determine their ability to obtain financing for a future real estate investment The financial statements prepared on a tax basis include a Statement of Revenue and Expenses a Balance Sheet and a Statement of the Partner s Capital A Check the box to Prepare financial statements Frank and Susan also want the Two Year Comparison Worksheet This worksheet lists the ordinary income expenses and Schedule K amounts for the current and prior years and computes the differences between them B Check the box to Prepare two year comparison worksheet Step 7 1065 page 1 Ordinary Income and Expenses Let s start by inputting the ordinary income and expenses on page 1 of Form 1065 for the AbleBaker Bookstore A Inthe Forms Pane click on 1 1065 Pg 1 B Enter the following ordinary income in the appropriate field in the Input Pane e Gross receipts or sales line 1a 409 465 e Returns and allowances line 1b 3 365 e Interest income on accounts receivable line 7 559 We will create a detail statement on line 7 for the interest income of 559 Put the curser on the line 7 input field then click the Detail button on the button bar or right click and select Detail Statement Enter the description as Interest income on accounts receivable Enter the amount as 559 C Click OK to return to the 1065 page 1 input screen lt Note gt When you move from this field the color of the field will change
108. ties Select City silver Spring Primary Cloverly Colesville 2 AbleBaker Bookstore s city is Silver Spring H Click OK to continue Step 5 General Information A The first input screen will appear This is the General Information screen Notice that the Client ID partnership s name address city state zip county and EIN carried from the New Client screen lt screen gt tut6 tif De pi eee Fome Hh feing W itbinh pibon teip ae c it FN amp amp EF Gris Peya Chein Facer Tests Deia Eperme Rupe Fom Dann tae Ud Feech j Form 1065 General information BES Foe BS i lal Cert 0 oP Riper Matit x menero O Fe tenie sl Canea ET GE Cage oF Mares ifrai Lire Bolafishet Book Stace D 3 Hare Senendl Line ll o Asiana p B z Minin Pirau n BAR Pron Dl sais a Erena __ fii Spring cite Th B UM Uir mi Cani Ponta a 6 FPG PG ki Aed Shes pi apnea a organisation eeni tren ete m okie mes O EPI PT he Mca Teepe eee Fries i a O0 FV Pesagn e a D i iii F fas E Bosi Gha Vee Eeg D Faceti F Pram T O S48E Fea HEA a la pa OD i Fon 5 Furey acyl Fe J Thos D 4562 Fone 562 B Predeio amea Bank i O DEPA Dem wih T Barazi code fisi O abil Fin dead Fg 2 b u apei PPE DA E Dae beer aries D ANT Fa PoI O Beta Fone SRE F Total arsti 3 O ER Fomere G hns rum Yan O B7P Fone A Fr rear ian 0 ET fomimA Harta Ghats ls a ae fone nan ce D ES
109. tilities Notes The screen acts as a word processor Notes and Explanation pages will print as part of the return There are four tabs to select from The first tab Notes will not go to the IRS They can be as long as you want You can enter as many Notes as you wish The other three EF tabs go to IRS as part of the e file They are limited to one note each and can contain no more than 4000 characters Notes Notes are NOT included in the IRS e file Notes are items YOU want to track They may include things you need to follow up on specific client desires etc Preparer Notes Preparer Notes are included in the IRS e file Select this tab to provide additional voluntary information related to the tax return but are not required attachments Election Explanations Election Explanations are included in the IRS e file Select this tab when the taxpayer makes an election for certain tax treatment status exception or exemption based on an instruction for the tax form or in a related tax publication when there is no official IRS form designed for that purpose The specific election must be cited followed by an explanation or other supporting information Regulatory Explanations Regulatory Explanations are included in the IRS e file They are similar to Election Explanations but are used when the taxpayer cites a specific regulation for certain tax treatment status exception or exemption when there is no official IRS
110. tion allows you to type notes within a clients return Notes will print with the return Notes entered under the three EF tabs will be included in the e file sent to IRS Client Status Ctrl F2 This function is used for in house tracking purposes Select the desired option from the drop down list or customize your own States and PUP s Ctrl P If you have purchased a limited use package and need to process a state or system that has not been purchased an authorization code must be obtained in order to process the return Use this function from within the clients return to retrieve a pup code via the internet Cities Selecting this option opens a box with available city returns Currently the program includes city forms for MI NY OH and PA Upload Client To Support Team Gives you the capability to upload a client file with a note to TaxAgent from within the client s tax return If you are having trouble with a client you can upload the client file and ask our support staff to help answer your question This feature will not automatically notify TaxAgent that you have uploaded a file Please email or call TaxAgent support after uploading the file Set Default Ctrl D This function allows you to set the default for the field you are highlighting When the default is set it affects every return in that system Enter the default information you want Select Utilities Set Default or Ctrl D Default is now set Entries
111. tions The windows clipboard holds the information allowing users to copy and paste data from sources outside of TaxAgent Delete Clear Text Erase Form and Erase Line are additional edit utilities Ctrl Y or the delete key will clear text in the highlighted field F9 will erase the entire Form you have accessed Ctrl F9 erases all entries on a highlighted line for example interest income Client Number The client number is now optional The file naming convention will be by SSN EIN instead of client number To avoid using the client number check the box in the lower left corner of the New Client screen within Client Selection screen or go to Control Switches and check the box to Hide Client Number in Client Selection Grids Used to toggle between screens within a Form or Schedule i e Dependents Schedule B and Schedule D fr oe li Cima We Famious rena Daai preie i mua iell reppen r baw mikina ee is 3 ral aw brm himan ibm Dagin iv ee eerie bee Dar TET a aa M Simple Grids Areas in the program that have multiple lines of entry for the same item have simple grids Calculations from these entries do not take place until you Review the return To move through a simple grid press Enter Tab will take you off of the grid and to the next line of input Other Income SE TS Amount E iat Verify Vital Data useful for minimizing E file rejects This utility will prompt you to re
112. ts Ads Bank Database Reports Archive Eime 1040 Overview 4sccount a 5 PE J Helpful Links t Helpful Tools n J elpfu ciest Search SEN or Last Naca J iiney Security Preferences ulipie Office Han ge ment 1 EF Center Buttons The following buttons are located across the top of the EF Center screen a Overview Links to overview screen covered in items 1 through 12 a Send Clients Links to Send Client screen where you will transmit e file and bank returns to TaxAgent filing center a Acks Links to federal and state acknowledgments and confirmation letters a Bank Links to Bank screen allowing you to view and print bank checks complete bank enrollment application view a summary of information and items received from the bank Reference EF Center Bank for details on this option a Database Links to Database screen allowing you to select and view e file and bank status information on clients that have been transmitted to the TaxAgent filing center IRS states and bank a Reports Links to Report screen allowing you to view and print various e file and bank reports a Archive Links to Archive screen allowing access to e file and bank reports alerts and other items that were previously viewed and archived a Close Closes and logs you out of the EF Center 2 Overview Allows you to link to features where you can perform e file and bank tasks 3 Sy
113. ts information for selected clients Status Report allows printing of clients by status ie Updated In Progress etc Birthday Listing lists all clients and spouses by their birthday Comment Report lists clients and comments input on status menu Referral Report lists clients SSN s and source of referral System Totals Report lists the total number of returns processed categorized by state system and E file gt Marked for E File Not Transmitted Provides a summary of returns that have been mark to be electronically filed that have not been transmitted to the EF Center Labels Make your client correspondence look professional by using a label on your envelopes This can be done from Management Labels Choose type of label and taxpayer spouse format C Print Client Lahols Ciee P Last Harra Ford Haia gg 7 LCE Jorecon MEI TM FORM s ma 2 OREGON HA TEST a TAN i 3 DREGIN SMENDED HFJ Ta i OREGON AMEND SINGLE ini E OREGON MF TEST s G OREGON UMIERFAYMENT SaN T OREGON EXTENTION Baan OREGON WFJ HA sam 5 OREGON SINGLE HF TAN i 10 DREGIN AMENDED HHGLE Feti i REGIN KFJ PTA saii i OREGON SINGLE FT 1A TEN agi E OREGON WiDDWER Sah 14 OREGON Hoe aani 15 RERIN MES BENS el aoe i Ww Tape every 5351 Adde Jx 10 fe ae Format TF Lasi TF Finit SF Fra alb al l Hol copies esch fi _Fort Slip Sheets Envelopes If you are using window envelopes to correspond with
114. u want to upload multiple clients To upload client s without being in a client s return click Clients from the button bar and select Upload Tag the client s and click Upload Move the radio button to TaxAgent and click Upload The internet will launch Upload Clients Support Tear Jeveeuesnoensseverasesnssersneseet C Account Number Upload Cancel Upload client s to your own account folder You can upload client s to your own account folder The folder will reside on TaxAgent s internet site for you to retrieve later This is a great feature for those who work at home and the office Instead of carrying floppy disks you can send from the office and retrieve the folder from home and vice versa To use this feature click Clients from the button bar and select Upload Tag the client s and click Upload Move the radio button to Account Number You must enter an Upload Filename The filename can be no more than eight numbers letters and is case sensitive Remember the filename as this will be used to download the file later Click Upload The internet will launch Upload Clients Support Team Account Number Ga7o000 Upload Filename fid Upload Cancel NOTE If you use the same filename it will overwrite any files folder previously uploaded Download Select Clients Download to retrieve files you uploaded to your account folder previously You must enter the filename assigned during the u
115. ur sales representative for more information 10 Help Using TaxAgent Help There are numerous Help features available within the TaxAgent program Select Help from the menu bar Select Program Help to view detailed information about the TaxAgent program by topic This can also be accessed within the client s return by pressing Ctrl F1 Select Form Help to view instructions for Forms used within the program Government and State Instructions IRS Publications and information on TaxAgent upgrades are available To bring up help for a specific field line you are working on in the client s return press F1 1g fad ja ies Sees Sees Li ei Dee j f pee ee Pe i IT OL ee PL eee eon PUREE eee ETR TEIL DATA ETERS PEE ALEN a Ads ITI r hiama i aah aie see aeeiaeaterne La Hi FEHI Ti pit TERS aw IH EA H Sew MILITARY ACANT pt roe Lemi srm h i 7 z z E zk a E zr 7 3 ie ow she Find Ctrl F3 Enables you to search for a word or number within the page being viewed Flip F3 Toggles between a full or partial view of the document selected Print Page F8 Prints the page being viewed List Pubs Close Exits the Help screen Program Help View detailed instructions about the TaxAgent program Government Instructions Government and State Instructions have been incorporated into the TaxAgent Help feature
116. ustom Letters Libraries RTN Library and Distribution Sets This will save reentry A From the menu bar click File System Updates Tag the system settings you want to update Enter the drive letter where your 2004 TaxAgent program is located Click Update The 2004 settings will be updated into the 2005 TaxAgent program B C D System Updates Employer Library Preparer Data Custom Letters M Libraries M Invoice amp Discount Library M Defaults Custom Slip Sheets RTN Library Distribution Sets Update from drive i last year s Working Drive i Close esc Help NOTE You must be able to access the TaxAgent 2004 drive to perform System updates General Information Screen The General Information Screen is where you will start most of your data entry It contains personal information about the client such as name SSN marital status etc We have provided links to other forms as well as added input fields for some of the more common entries Click Clients on the button on the button bar Highlight client and select Open There are three General Information screen options Advanced For complex returns Lite For the majority of your returns as well as e file and bank clients EZ For clients who qualify for form 1040EZ To link to a form instead of using the Forms Pane click on the highlighted underlined form name The program will link to the form selected Make any appli
117. view the forms available within each selected group 6 Tag the forms you want included in each group or untag forms you do not want included in the group Bz Distribution Sets Current Set Federal Paper System 1040 x State Federal v Note To move a form left click it with the mouse While holding the left mouse button drag the form to the desired location The Government Paper Filing Federal Paper State Paper City Paper Extension Signature Paper Signature EF Signature Custom Casey EF Signature Preparer Preparer Review Preparer File Client Client Copy Ptr Shr Benf Sch K 1s Other Options For Federal Paper Watermark max 50 chars Separator Page Upper Page Mark Print Page Number Client ID Date amp Time move up down buttons below can also be used M Federal Forms 1040 Pg 1 1040 Pg 2 9465 1040EZ Pg 1 1040EZ Pg 2 1040 Pg1 1040 Pg 2 10404 Pg 1 10404 Pg 2 1040NR Pg 1 1040NR Pg 2 1040NR Pg 3 1040NR Pg 4 1040NR Pg 5 2210 Pg1 2210 Pg 2 2210 P93 2210 Sch Al 2210F Sch SchB Sch1 SchC Pg1 SchCPg2 M Sch CEZ ka k e e Click to tag and untag all forms within the group e Click to reset the forms to factory settings e Click to apply the changes that were made 7 There are additional options found in the bottom left hand corner of the Distribution Sets screen e Watermark Type the description you want to print as a watermark on th
118. wo Year Comparison box was checked However because this is a new client the 2004 amounts must be manually input In subsequent years the report will be updated for the prior year amounts A In the Forms Pane click on 2YR 2Yr Comp P1 B Enter the following amounts for the prior year e Income o Gross receipts or sales 300 000 o Less returns and allowances 3 000 o Cost of goods sold 250 000 o Other income 50 e Deductions o Salaries and wages 25 000 o Guaranteed payments to partners 25 000 o Repairs and maintenance 2 000 o Bad debts 200 o Rent 20 000 o Taxes and licenses 2 500 o Interest 1 400 o Depreciation 320 o Other deductions 5 000 e Schedule K o Guaranteed payments to partners 25 000 C Inthe Forms Pane click on 2YR2 2Yr Comp P2 D Enter the following amount for the prior year e Self Employment o Net earnings from self employment 32 320 lt screen gt tut 21 tif Form 1066 Two Year Companion Prior Year Entry Pipas Trt ieee Copan ata inh ve Leni Yeats Ajo nn ac oe Leen ete ad yee Baere Cori pi peri mki emt profi Deihey rerem Pon dee eerie ci BA fee pra Bel Fee PT orl Deh heer MIRAL nao s D i25 fmi D F DEPP Deeps etek IR Fei EM Pg 7 4971 Frm 47S Pg 787 Fe aa Py 2 DO i f Sle D RR FaR D 84 fon H aca Frieri plea i Bente eee eee her ditan Viel iiem ier One ries SCHEDULE K kaerra Lovee D OTA Die Reia D Wi Foo BE D GEHA mya Be
119. working in the client s return so let s highlight a client and click Open Let s Review the return and assume all information is correct and we are ready to print From the print combo box select desired print option and then click on the Printer icon Sete a nE Gu MO m TTT PEE isi o T EP ich Mord lets Peirs Him 2 a eel Tud Leela Pig a Se been a aii m ity ry SE ohc Pol Ht W Sht Pala SnoPat T ahbg Sl hE Pa l id W os Fpi I W FR Boor es ED ere 40 Feit dich GEI ATE Sen ee 1h E Tabi isa hah 420 Erpin Lr th 20 Sch wth Ei shi Tawi Pg EI Soh eskia 2 Sct aeuT Poi 420 Gch awl Pg 0 Sch D Tae wk 2 ey wT 1a A I MET CEN aioe G Gos tee t i o E pi widest 9 ES Vhes Pal ff Ei Vourhen Py l BY Capai Seni f F m mi iimis Cie Je aaaea BALE OF ASSETa 4739 man 2759 THATROSTIOHS FOR FELD DOO PEDERAL EXTERSTOW FoRH 4668 Eat extended rrtucn hee balanca due of FS 5435 00 No mignkitura ie ceguiced om pour extern FPile on or before Gt 17 r006 the TATERMAL REVENUE GERVICE Poo Bog Tike BAH FRANCISCO CA BLAfO TLlZ tO Fay BY CHACE Make a check for P3 547 00 payable te UNTIED STATED TREAZOY Erite your SAN end daytime phones mumbar on tha check fo not wttach the chack to the form Bald above Lose in eae envelopa om of before 04 17 3008 tgi INTERBMAL REVERE SERVICE Poo Bom TLE FAY By CREDIT WO NOT PE e th BMIZO 712E E SURHINERTED REL Pasie st bink ys Gor
120. xcise including security corporations with more than 100 000 in gross receipts or sales must file returns and tax payments electronically Exception financial institutions insurance companies and public utilities Michigan Single Business Tax SBT E File 1120 In tax year 2003 Michigan mandated electronic filing of individual and business returns with 350 000 in gross receipts Michigan does allow certain waivers Form 803c can also be filed electronically TaxAgent has created e file software for Michigan SBT 1040 1041 1065 and 1120S systems To e file Michigan SBT returns from the E File Center select MI SBT from the system drop down box Bank Services TaxAgent has contracted with Santa Barbara Bank amp Trust to offer various bank services to our users Taxpayers can authorize the IRS to send their refund proceeds to one of the banks The selected bank handles disbursement of the client s reftund making funds available much faster Federal Refund Anticipation Loans and Federal and State Refund Transfers are available Generally the client will be able to receive a loan within 12 24 hours Advanced Refund Loans or Advanced Refund Transfers are available within 5 minutes Refund Transfers are available within 9 to 14 days Disbursements can be made by check or direct deposit A bank application is required in order to participate in this program Separate documentation is provided to bank participants Contact yo
121. y are currently depreciating The bookshelves were purchased in one transaction Therefore they will be set up as one asset We will use the Depreciation Worksheets to help track the depreciation A Select DEPR Depr Wksht from the Forms Pane to open the Depreciation Worksheets B Enter the following information into the New Asset box 1 N O o A OO PN 8 9 Make sure the Form is set to 1065 Enter the Description as Shelves The shelves were purchased on 05 01 2004 The Cost was 4 794 The Prior Depreciation is 480 The Prior Special Depreciation Allowance is 1 438 The Type is Furniture and Fixtures NOTE You can select the Type by clicking the down arrow in the Type field or start typing Furniture to use the auto fill feature This is an optional entry The Method should default to MACRS 7 Year M7YR Click OK to continue You are now on the Depr Wksht input screen 10 The Current Depreciation should be 822 11 Enter 480 as the Prior Depreciation in the AMT column C AbleBaker Bookstore keeps separate book and tax depreciation records If the asset has a book value that is different than the tax value then the book value will carry to the Balance Sheet and the difference between book and tax depreciation will carry to Schedule M 1 ls Click the Other tab 2 Inthe Book Value Same as Federal column uncheck the Book Value Same as Federal box 3 Select Method 19 Nonrecovery
122. your clients use Slip Sheets for a professional look There are two ways to print slip sheets To customize slip sheets while in a client s return select PO Options screen From the drop down box select one of the defaults or select Add New and create your own Choose if you would like the slip sheet to print portrait or landscape add a border change the font move the from and to address where you would like them to print on the page The new slip will appear in the drop down for use with other clients To print slip sheets for multiple clients select Management Slip Sheets Select desired slip sheet Tag clients you would the slip sheet to print for BackUps We highly recommend you back up critical files periodically There are many software products available to back up program files We have included a utility that will allow you to back up files to your hard drive zip x disk tape drive or another computer on your network We suggest you use separate disks for each day of the week It is also wise to perform a monthly back up Use a separate disk tape or drive each month Our utility will back up select items settings client files and related database information NOTE If you are operating on a network others must be out of the TaxAgent 2003 program before using back up utilities Back Up To back up system and client files select File Backup Tag the items you want to back up Enter the client back up drive and click O

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