Tax adjustments
Note: Caseware Taxflow supports 2022 and 2023 tax exports for C-Corporations, S-Corporations and Partnerships for the following tax vendors:
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CCH ProSystem fx® Tax
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CCH Axcess™ Tax
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Lacerte® Tax
When posting tax adjustments to your Caseware Taxflow engagement file, you can add tax reclassifying adjustments and book-to-tax reconciliation adjustments. After posting your adjustments, you can view them from the Tax adjustments summary page.
Post a tax adjustment
When posting a tax adjustment, you can add a tax reclassifying adjustment or a book-to-tax reconciliation adjustment.
To post a tax adjustment:
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Select the New engagement item icon (
) and then Tax adjustments.The Tax adjustments form opens in a new tab or browser.
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From the Type of adjustment drop-down, select either Tax reclassifying adjustment or Book-to-tax reconciliation adjustment.
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Enter a reference number in the Ref column and a description in the Description column.
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Select the applicable Tax Schedule and Tax Group, then enter the Amount.
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To add or delete a tax form row, select the Add (
) or Delete icon (
).
Note: A warning displays if your tax adjustments are out of balance.
To view your tax adjustments, go to the Tax adjustments summary.
Recurring adjustments
To designate a tax adjustment a recurring entry, select the applicable checkbox in the Tax Adjustment dialog.
Tax provision automatic adjustments
A tax adjustment is now automatically generated to record the tax provision expense after the following steps are completed in a Caseware Taxflow engagement:
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Import Financial information
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Open and review the Tax groups assignment
Note: If changes to the default tax provision automatic adjustment are required, we recommend deleting the adjustment and recreating a new one based on the engagement specific. The new adjustment can be selected as “Recurring” to be carried forward in the next year’s file.
