Tax product updates for tax year 2023

Tax year 2023 product updates offer enhanced reporting capabilities, strategies, and streamlined workflows, while also providing you with access to new tax-related insights, advisory strategies, and reports to help firms achieve their goals.

Updates to Intuit Tax Advisor* 

With Intuit Tax Advisor, you can create custom tax plans in minutes and show clients valuable savings all by using tax strategies automatically generated from your Intuit® ProConnect™ Tax or Lacerte® Tax returns. Updates and features include the following:

• Client OneView—Allow previews up to five clients simultaneously. Gain insights into potential tax savings, the number of probable strategies, and the potential strategies for each client to create, with confidence, a personalized tax plan for each client.
• State Tax Analysis and Projections—Expands capabilities, including primary state returns and federal returns. Switch between federal and primary state modes, and adjust income, deductions, credits, estimated payments, and create custom strategies for the upcoming year for more precise state planning. All taxable states are now within reach, and for California and New York, potential adjustments are also available.
• Smarter recommended strategy insights—Adds new strategies to client plans to offer updated insights based on that strategy, resulting in a more customized tax plan.
• Visibility into tax savings and net out-of-pocket calculations—Provides more visibility to tax fields impacted by a strategy and details about the calculations to help users more confidently implement tax saving strategies and explain values to clients.
• Worksheets experience—Answers questions to evaluate if a client may qualify for items such as business use of home, business and personal travel, or day trader status. Coming soon:** Net operating loss carryforward.
• Strategies for real estate professionals—Determines if a taxpayer qualifies as a real estate professional and can deduct losses from real estate activities against ordinary income, and whether the net investment tax applies.
• Strategies for like-kind exchange—Examines certain real property for another property that is like-kind, without recognizing a taxable gain for the transaction.

Updates to ProConnect Tax*

• IRS transcripts direct access—Pull client’s data, straight from the IRS into ProConnect Tax, with the IRS transcripts feature to complete fast, accurate returns with less client back and forth. Watch this YouTube video for more information.
• Customized client letters—Create and send templated letters to clients, with preset and customized tax return data fields and signatures.
• Firm performance insights—Grow your firm with full insights into its performance. The easy-to-read dashboard reports annual client growth, time spent on returns at the firm and user level, and comparison reports.
• Task Accelerators—Set up an email to yourself and/or others when an e-filed return is rejected by the IRS.
• Custom print settings—Customize digital templates of your client’s tax return documents for easy client review while standardizing and automating your workflow. Select documents and forms to include, rearrange the order, mask SSNs, add a watermark, and more.
• Batch extension eFile—Batch extend up to 10 multi-modular (individual and business) federal, state, and local extensions. Preview a dashboard to help ensure returns pass all required diagnostics and payment requirements before e-filing.
• Hot keys (shortcuts)—Accelerate productivity with a compiled list of convenient, accurate, and fast shortcut key combinations while using main navigation, client tax returns list, and return navigation.
• Intuit Link client reminders—Send clients reminders to join Intuit Link and complete their organizer every seven days until the client marks the task as done.
• Expanded tax filing capabilities—Access 20 new e-file capabilities and 73 new e-file forms.

Coming soon in ProConnect Tax:**

• Prep for Taxes (New! Tax adjustments)—Reconcile tax adjustments to QuickBooks® imported trial balance in ProConnect Tax, and update or reclassify tax mapping prior to importing books data to the tax return. QuickBooks sold separately.
• 1040 direct data import—Create a new client using pertinent data extracted directly from their prior year 1040 form and generate a tax summary comparison for the current tax year. 
• K-1 package delivery —Create and distribute individual K-1 packages to partners via email using a secured link.

Updates to Lacerte Tax*

• SafeSend integration—Send clients’ returns to SafeSend directly from the Lacerte client grid to assemble and deliver completed tax return packages more efficiently. No downloading and uploading is required. 
• Simplified Intuit Tax Advisor plan creation—Start tax plans for 1040 clients with a quick click from the client grid to open and sign into Intuit Tax Advisor.
• Quick Employer Forms Accountant—Create and e-file an unlimited number of W-2s and 1099s for your clients’ employees and contractors. E-file and print forms within a business and across multiple businesses individually and in bulk. This supports Forms W-2, 1099-NEC, 1099-MISC, 1099-INT, and 1099-DIV, and supports W-3 & 1096 forms for your records automatically.

Updates to ProSeries Tax*

• Hosting onboarding automation enhancements—Move data with end-to-end automation from your existing infrastructure to the Hosting environment. This automation includes packing data from all current ProSeries tax years, transferring it to the Right Networks’ environment, and unpacking it to their respective ProSeries folders, to start working online as if nothing has changed.
• TurboTax Online import —Transfer current-year TurboTax individual 1040 returns to current-year ProSeries returns in just a few clicks.
• Quick Employer Forms Accountant—Create and e-file an unlimited number of W-2s and 1099s for your clients’ employees and contractors. E-file and print forms within a business and across multiple businesses individually and in bulk. This supports Forms W-2, 1099-NEC, 1099-MISC, 1099-INT, and 1099-DIV, and supports W-3 & 1096 forms for your records automatically.     

Coming soon in ProSeries Tax:**

• Financial institution download—Download client financial data directly from all supported banks with an updated authentication method.
• eSignature—Batch electronic signatures on documents from 2 to 100 clients, and set reminders for them all at once.

*Additional terms, conditions and fees may apply with certain features and functionality. Eligibility criteria may apply. Product offers, features, and functionality are subject to change without notice. 

**This information is our general product direction but represents no obligation to deliver future features and should not be relied on in making a purchasing decision.