Tax adjustments

Note: Caseware Taxflow supports 2022 and 2023 tax exports for C-Corporations, S-Corporations and Partnerships for the following tax vendors:

  • CCH ProSystem fx® Tax

  • CCH Axcess™ Tax

  • Lacerte® Tax

  • GoSystem® 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:

  1. Select the New engagement item icon () and then Tax adjustments.

    The Tax adjustments form opens in a new tab or browser.

  2. From the Type of adjustment drop-down, select either Tax reclassifying adjustment or Book-to-tax reconciliation adjustment.

    Selecting the type of tax adjutment

  3. Enter a reference number in the Ref column and a description in the Description column.

  4. Select the applicable Tax Schedule and Tax Group, then enter the Amount.

  5. 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.

Tax adjustment summary

Recurring adjustments

To designate a tax adjustment a recurring entry, select the applicable checkbox in the Tax Adjustment dialog.

Recurring Tax Adjustment.

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:

  • Import Financial information

  • 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.

Tax provision adjustment.