Accounting software giant Intuit announced an array of new features throughout its product line in anticipation of the 2024 tax season. The new features range from automation and integration to enhanced user experience to client engagement and more.
“At Intuit, we are constantly striving to innovate our tax preparation software and develop new tools and capabilities to help our customers save time and maximize their success,” said Jorge Olavarrieta, vice president of product management and design at Intuit. “We are committed to providing the best resources to tax and accounting professionals so they can focus on what matters most today, while investing in solutions that will power the future of the profession.”
Users of Intuit Tax Advisor will be able to preview up to five clients simultaneously and access insights for potential tax savings and strategies. The new release also added new strategies to client plans, offering updated insights based on the strategy, resulting in a more customized tax plan. It also answers questions to evaluate if a client can qualify for items such as business use of a home, business and personal travel, or day trader status. The upgrade also features new primary state returns in addition to federal returns and the ability to switch between them, plus more visibility into tax fields impacted by a strategy. There are also new strategies for determining if someone qualifies as a real estate professional who can deduct losses from real estate activities, as well as strategies for like-kind exchanges.
ProConnect Tax users will now be able to pull client data straight from the IRS into ProConnect Tax. They will be able to create and send templated letters to clients with preset and customized tax return data fields and signatures; and access a dashboard that reports annual client growth, time spent on returns at both the firm and user level, and comparison reports. Users can have an email sent to themselves or others when an e-filed return is rejected by the IRS. They can also access customize digital templates of a client’s tax return documents for review, with the added ability to select documents and forms to include, rearrange the order, mask Social Security Numbers, add a watermark and more. Users can batch up to 10 multi-modular federal, state and local extensions; use new hotkey shortcuts; and access 20 new e-file capabilities and 73 new e-file forms.
Those using Lacerte will be able to send client returns to SafeSend directly without any downloading or uploading, all within Lacerte. Furthermore, users can start tax plans for 1040 clients with a click from the client grid to open and sign into Intuit Tax Advisor, and they can create and e-file an unlimited number of W-2s and 1099s for clients’ employees and contractors. Users can now e-file and print forms within a business and across multiple businesses individually and in bulk. The feature works with Forms W-2, 1099-NEC, 1099-MISC, 1099-INT and 1099-DIV and supports W-3 and 1096 forms for records automatically.
ProSeries users will be able to move data with end-to-end automation from their existing infrastructure to the hosting environment, which includes packing data from all current ProSeries tax years, transferring it to Right Networks’ environment, and unpacking it to their respective ProSeries folders. They can also transfer current-year TurboTax individual 1040 returns to current-year ProSeries returns and create and e-file an unlimited number of W-2s and 1099s for their clients’ employees and contractors.
Intuit intends to release further features later in the year.
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