The Lacerte® direct download service is included free in your Lacerte Fast Path license. Not only can you import W-2s from more than 75 payroll providers directly into your client’s 1040 tax return, but the service also allows you to download and import your client’s 1099 information directly from the financial institution, too.
The number of partners now included in this service has expanded to include more banks and payroll providers, bringing the total to more than 400. Click here to see the list of supported financial institutions.
This feature provides improved accuracy because this information is downloaded directly from the financial institution.
Click here for more information and case studies for W-2 and 1099 downloads.
To access this feature in the Lacerte program, select Import from the tools menu and select Tax Import for all of the financial institution import options.
Setting the Default Form Viewed When Accessing the Forms Tab
When viewing the Forms tab, the main form (e.g. 1040) appears by default. A common practice for preparers is to view the Tax Summary as a way to see a whole picture of the return and compare the current data to the prior year’s data.
If you find yourself going to that form, or any other form, you can almost always set that form to be the default form viewed by default.
To change the default form viewed when opening the Forms tab, go to the Forms tab and select the form you wish to be the default form viewed.
Once that form is selected, select View from the tools menu and select Make current form the default for viewed.
Now, when you open the Forms tab, whatever form you selected will be the form viewed by default.
Tax Return Review – Tick Marks
While reviewing a tax return from the Forms tab, Lacerte offers the ability to put “tick marks” on the return. Review tools are a powerful way to tick off values in the return, as you tie in source documents during the review. Click once on a field and a green tick mark appears, indicating you have checked that amount. If the value changes later, the tick mark turns red, indicating it needs to be rechecked.
Checking returns is part of due diligence and necessary to avoid errors. By using these tick marks, you can see a visual cue that you have validated that amount during your review process.
Whether you’re new to Lacerte or a seasoned user, check out our self-paced online Training Center for more resources.