Release notes for Onvio Tax

Customize asset list in Fixed Assets

With this release, you can choose which columns to display on the asset list by clicking the Show/Hide Columns  button.

Force forms to print

With this release, you can now force tax forms to print with the tax return. To do so, click the Forms button on the Data Entry tab, select the desired form in the folder list to open the form, then click the Settings  button in the upper-right corner of the form and select Force form to print.

Updates to Onvio Fixed Assets

• You can now calculate the prior depreciation for assets placed in service in a prior year. 
• With this release, use the Depreciation tab to enter a description, assign a situs, and enter relevant dates for an asset. Prior to this release, you entered this information in General tab. 

Locate specific data-entry screens and fields with new Search tool

With this release, you can search for specific data-entry fields and screens by clicking the Search link above the folders list on the Data Entry tab and entering the desired keywords.

Electronic filing for 1041 returns

This release enables you to create and transmit e-files for 1041 federal tax returns and extensions. View the Onvio Tax Dashboard for information about specific state availability.

Electronic Filing Status on Tax Dashboard

With this release, the Onvio Tax Dashboard includes the Electronic Filing Status widget, which displays all e-files that are queued, transmitted, accepted, or rejected. You can filter the list of returns on each tab and view details regarding the e-file status (including rejection errors) by clicking the icon.

Onvio Tax 1041 state releases 

As of this release, all Onvio Tax 1041 state returns are now available and can be added to a client's tax return project.

Return status information in Project Properties

The Properties > Project Information screen now includes a Status column in the Returns list, which enables you to view the status of the federal and state returns for the current project.

Updates to Onvio Fixed Assets

The following changes were made to Onvio Fixed Assets for this release.

• Bonus first-year depreciation - qualified property placed in service between 9/28/17 and 12/31/22 is allowed to take first-year bonus depreciation. The bonus depreciation percentage is 100% for property placed in service between 9/28/17 and 12/31/22.
• Luxury auto limits have been updated to include the depreciation limits for luxury autos (Passenger) which were placed in service after 12/31/17.
• We have enabled ACRS calculation. 

Dashboard

With this release, you can now view forms approval information and tax-related news alerts via the Onvio Tax Dashboard.

State releases

This release also includes the following 1041 states.  

• California
• Connecticut
• Delaware
• Illinois
• Maryland
• Massachusetts
• Michigan
• New Jersey
• New York
• North Carolina
• Ohio
• Pennsylvania
• Virginia

This notice describes new features for this update of Onvio Tax 1041 2017.

With this release, you can import accounting data from Fiduciary Accounting System (FAS), enter tax return amounts and beneficiary information, specify allocations, and customize client documents.

Get started

The  Get started with Onvio Tax article will help you get familiar with the application, verify firm and staff profiles, assign tax roles, enter and update tax return information, and resolve diagnostic messages while reviewing the return.

Modify project details

• After you create staff profiles (if necessary) and  set up tax roles, you can  assign a preparer, reviewer, or staff member to a tax return project.
• To prepare for creating e-files, digital copies, or paper copies of tax returns with future releases, you can  create or edit tax return collations.

Prepare client documents

• Onvio Tax includes many client documents by default, and you can create and customize  letters,  filing instructions,  slipsheets, and  elections as needed.
• To help enhance your letters, emails, and other documents, you can  insert a variable in a client document.
• You can also  create custom paragraphs to personalize client letters and other documents.

Import amounts from FAS and enter tax and beneficiary information

• You can now import  accounting information from Fiduciary Accounting System directly into your clients’ tax returns.
• Begin preparing returns by  entering information about beneficiaries for federal returns and  specifying allocation amounts or percentages.
• Include depreciation data by entering asset information in  Onvio Fixed Assets with the available  depreciation methods.

Initial release

This notice describes features for the initial release of Onvio Tax 1041 2017.

Calculations are not finalized until we receive final forms from taxing agencies. Don’t enter tax data or beneficiary information and don’t attempt to file tax returns until after the December 28th release of Onvio Tax 1041 2017.

This release enables you to complete the following initial setup tasks.

Get started

The Get started with Onvio Tax article will help you set up staff profiles, create client contacts, and add tax return projects.

Modify project details

• After you create staff profiles (if necessary), you can assign a preparer, reviewer, or staff member to a tax return project.
• You can add a state tax return as applicable to your clients’ needs.
• To prepare for creating e-files, digital copies, or paper copies of tax returns with future releases, you can create or edit tax return collations.