Intuit has released updates for its desktop tax preparation packages ProSeries and Lacerte for Tax Year 2018. The most important changes are the implementation of tax reform changes.
Intuit has updated its Tax Reform Resource Center for tax reform news and tools, such the QBI Entity Selection Calculator, and tax reform webinars. ProSeries will include new IRS forms, worksheets and calculations for the new QBI deduction, a simpler 1040 worksheet and in-product client impact tools such as client analyzer queries for business returns. Lacerte’s 1040 optimization handles the new postcard-sized return. There is also a client-ready Tax Reform Impact Summary and Tax Reform-related diagnostics.
ProSeries Professional has new viewing options for Forms in Use, with users be to more customize their view. There is the option to collapse sub forms, such as K-1 worksheets, asset worksheets and source documents like 1099 or W-2. In addition, the active form will appear in white highlight within the forms bar.
Tax preparers cans also run 18 new client analyzer queries across 1120 Federal Corp, 1120 Federal S Corp, Partnership 1065, and Estates and Trusts forms. There is also an option to export reports to Excel. In addition, resolution has been optimized for high-resolution monitors so that, text size, buttons and other elements automatically adjust to the screen
For Lacerte, new features include the ability to provide Quarterly payment estimates in one step for key states via an improved estimated payment wizard.
Additionally new, client log access controls give administrators the ability to grant access rights to clear client logs while there is an additional level of data encryption, along with in-product security tips. Preparers can also file a single return for an unlimited number of cities in Michigan, Ohio, Pennsylvania and Kentucky. In terms of support, customer service has more staff to handle calls and a “Hold My Spot” feature.
Lacerte has also added partner and oil gas data management, partner search acceleration to save time on complex partnership returns, and link enhancements to y track each client’s recent activity and update their information.
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