Managing Tax Groups

You can manage tax groups from an engagement’s Tax trial balance tab. The tax entity type and year-end date for the engagement determine the tax groups that are available. The tax groups match the IRS forms and line numbers. Assign tax groups to each account you want to send to the tax return. The Tax Summary Report shows the totals by tax group and tax sub-group.

Note: The Tax trial balance is not available in consolidated engagements at this time, so tax groups do not apply for those engagements.

Tax groups are available for the following tax entities beginning with the tax year 2017:

• Corporation (1120)
• Partnership/LLC (1065)
• S Corporation (1120S)
• Nonprofit/Tax Exempt (990)
• Individual/Sole Proprietorship (1040)

If the tax entity type does not have tax groups available for a year-end date after 2017, then the tax group shows as Unassigned for all accounts in the Tax trial balance. An option to update to the current year tax groups will display on the Tax trial balance tab when they become available. Updated tax groups are released in January for the prior year tax year.