TaxSlayer Webinar Training

Return Preparation 11/22/2017

  1. Logging in
  2. Username: Different for practice lab and for each tax site. You set username in practice lab, but your site coordinator will set username at each site. Make sure the site coordinator gives you your assigned username for site.
  3. Password: You can set, and can reset or retrieve as needed. You can use the same password for every site REQUIRED: 1 lowercase, 1 uppercase, 1 number, 1 special character, at least 8 characters, not same as last password.
  4. MultiFactor Authentication (MFA): IRS requirement for security of personal taxpayer data. MFA = Something you know (your password), plus something the system provides (a 6 digit verification code). Provided by email or text. If you do not have access to email (through a smartphone or website) or text (through smartphone) at tax site, notify site coordinator to come up with a substitute verification method.
  5. MFA required 1) each time you are at a new computer or browser; 2)every 14 days; 3)if you reset password; 4) 4 invalid login attempts.
  6. Within PracticeLab- note all the mini trainings and lessons you can use to study taxslayer in more detail. Any time you have a problem, check it out here!
  7. Go to practice area
  1. Main Menu
  2. Top Menu: Selecting Tax year
  3. Left Menu: Helpful Links
  4. Central Menu- generally starting a new return or searching for a client you already entered. Search is case sensitive.
  5. General note: Taxslayer is also used by tax professionals, so some questions and areas may relate to paid preparers not to you.
  6. Navigating Taxslayer. Before we start a new return, I want to go into an existing return to show you all the screen navigation. (GO TO EXISTING RETURN)
  7. 1040 view: When you go to a return already started it always opens in 1040 view. Menu is minimized. (demo how to display menu, go to federal page)
  8. Top Menu:
  9. Taxpayer name
  10. Notes
  11. Tools (show)
  12. Help
  13. Right Menu: Refund calc:Warning- don’t let your taxpayer believe this!!
  14. Left Menu: Main Navigation Parts of the return
  15. Basic Information: name, filing status address, spouse, dependents
  16. Federal: income, deductions (INCLUDES ADJUSTMENTS AND CREDITS) Other taxes, Payments & Estimates, Miscellaneous Forms)
  17. Health Insurance: Required to complete return
  18. State: Can do multiple states, resident and nonresident
  19. Summary/Print: Comes back to this summary view and a pdf to see more.
  20. Efile: (NOTE: THIS IS A MISNOMER- not just efiling) Everything not on the tax return: Error checking, how the return will be filed, bank info, consents, review info.)
  21. Amend: (Seek user manual)
  22. Save and Exit
  23. Starting a New Return WE WILL SHOW YOU START A RETURN, THEN LET YOU TRY
  24. Personal Info REQUIRED BEFORE A RETURN IS CREATED
  25. Starting with a Profile Profiles just speed tax entry, may differ from options in demo software, will include standard worker, retiree, master or none.
  26. Enter SS# 2s (NOT taxpayer and spouse)
  27. For demo, use 00 in ss#
  28. Enter a dependent
  29. Buttons at bottom (CONTINUE= SAVE)
  30. Red = Required, cannot continue without
  31. Federal Info: Ways to navigate
  32. Profile will suggest forms (enter the ones you want, cancel the others)
  33. Quick File to Add Forms: Look at the stack of forms you had and add additional forms you will need.
  34. Form Search: go to an additional form you need
  35. Menu Sections GUIDE ME
  36. Menu Sections ENTER MYSELF
  37. 1040 view: If familiar with tax form, can jump to the line needed.
  38. Notes: Demonstrate adding a note about spelling of taxpayer name or a form that needs additional info. This will carry over to reviewer and to next year.
  1. Now you try! Enter Beringer Scenario individually or pairs, Complete Federal Section return. Not everyone will move at same speed, so if you finish more quickly, please take a quiet break then, open up your 6744 and begin reading the test, answering in the book. After 30 min we will stop.
  2. Finishing a return (BACK TO DEMO)
  3. Miscellaneous Forms (for injured spouse IPIN etc)
  4. Health Insurance: Demo Full year coverage
  5. State: Can’t demo state in Practice Lab (note- you can play with it in 2016 version)
  6. What carries through to state
  7. Personal Info and Filing status
  8. State withholding from federal documents
  9. Some deduction info (including medical)
  10. Taxslayer is tricky and inconsistent- some things carry through, others don’t, so be careful about double entry….
  11. Preview Return using Summary/View: Good idea to take a look at the pdf here (demo looking at pdf). Remind taxpayer that numbers are not complete until Reviewer looks at it.
  12. E-File: Always shows Notes, Warnings (can proceed without) and Errors (cannot proceed until fixed).
  13. Federal Return Types: Understanding what a paper return means.
  14. ERO info/Fees:NO FEES, BUT ENTER CLIENT EMAIL ADDRESS HERE (helpful if we need to get in touch)
  15. State Return Types: NOTE THIS IS DIFFERENT FROM FEDERAL. In order to efile state, you have to efile federal. Can do state only.
  16. Consents: Explain to taxpayer (you’ll have a cheat sheet). You MUST ask the taxpayer, don’t skip. Needs PIN (doesn’t need to remember PIN) need date.
  17. Questions: Go through quickly
  18. State ID: recommended for processing, will speed state processing but not required.
  19. Return Tags: Helps site coordinator understand, especially in unfinished returns (explain some scenarios)
  20. Mark for Review EXPLAIN puts it in a pending review folder ready for the quality reviewer.
  21. What happens next
  22. Time to start a return! We are going to start on the basic (or advanced) test scenarios. We cannot help you answer test questions, but we can answer taxslayer questions you have as you prepare the return. Please try to complete an entire return. If not enough computers for each person to complete a return, some can work on the questions in the book while others work in computer.
  23. If you need help after you leave:
  24. Process: Online Volunteer guide
  25. For tax law: use your reference materials. 4012, Pub 17 online, LinkandLearn
  26. For Taxslayer: Use 4012 (has screenshots) AND Taxslayer practice lab videos
  27. Email us, we’ll respond by email or set up a time to talk.
  28. Future practice sessions upon demand.
  29. Thank you!

United Way of Greater Cincinnati Taxslayer Training Notes Page 1