ATX 2020 RELEASE NOTES

Tax Year 2020

Version 20.2

Installation Instructions

The following installation types require the 20.2 update:

  • Stand-Alone
  • Workstation Only
  • Workstation/Server

Server Only installations do not require the 20.2 update.

As a best practice, it is recommended that you close the application on all workstations and update each one separately.

Addressed Issues

eSignature Changes

ATX has removed the requirement for a spouse signature when the filing status is married filing separately.

iFirm Changes

ATX made changes to correct issues some customers were experiencing when submitting timesheets and job details to iFirm.

Version 20.1

January 2021

Installation Instructions

The following installation types require the 20.1 update:

  • Stand-Alone
  • Workstation Only
  • Workstation/Server

Server Only installations do not require the 20.1 update.

As a best practice, it is recommended that you close the application on all workstations and update each one separately.

Notes about this release

Regulatory Changes

  • Section 179 deductions for qualifying assets have a $1,040,000 dollar limit and a $2,590,000 cost threshold.
  • Check state limits on the State Calcs tab in Asset Global Settings.
  • Standard Mileage Rate: For luxury autos, including trucks and vans placed in service in 2020, the business standard mileage rate is 57.5 cents per mile. The depreciation component when the standard mileage rate is elected is 27 cents per mile.
  • Business activities on Form 990-T have been moved into a new, separate schedule for 2020. The 990-T, Schedule A can be used to report business income or losses for each separate business activity.
  • The business activities from 990-T, Schedule A can now be linked to Forms 8995/8995-A to calculate the Qualified Business Income Deduction for each activity.

Yearly Auto limits:

  • Luxury Auto (V5): If first year placed in service is 2020, depreciation limits are $10,100 with no bonus, $18,100 with Bonus.
  • Trucks/Vans (V7): If first year placed in service is 2020, depreciation limits are $10,100 with no bonus, $18,100 with Bonus.
  • Sports Utility Vehicle (V6): Section 179 limit is $25,900.

Version 20.0

November 2020

Introduction

Thank you for choosing ATX as your tax preparation software! The entire team that designs, builds, tests and supports ATX has only one goal in mind: to provide you with a powerful solution that helps your business achieve improved workflow efficiency and tax compliance.

To ensure that your system is ready for the newest version of ATX, please review the System Requirements. You can also test your system against those requirements with our System Analysis tool.

Notes about this release

.NET Framework software is required by many desktop software applications and ATX needs current version 4.8 to install and operate. If you don't already have .NET software, it will be installed automatically as part of the ATX installation. After a .NET installation, a message may prompt you to restart your system in order to complete configuration of ATX 2020. After the restart, ATX installation will continue and complete automatically.

Installation Instructions

For information on installation, see the Learning Portal.

What's New

ATX eSignature for 1040 returns

eSignature capability is a new feature available in every ATX package for 1040 returns. You only pay for eSignature if you use it. The charge is $4.00 per envelope, which will contain multiple signatures (including yours). For details on how it works, refer to Program Help.

Enhanced Support

  • In-App Chat - Simply click on the Chat button on your ATX toolbar and you'll be linked to our Support Chat.
  • Remote Support - When you need to grant access to a Support representative to evaluate an issue in your software, you can now grant access in seconds, right from ATX.

Form Changes and Additional E-file Support

  • 1099-NEC - This year, the new Form 1099-NEC will be used for data previously reported on the 1099-MISC. We will provide full support of these changes, as well as the new due dates for the 1099-MISC (which is now due on March 1 instead of the current split schedule of January 31 and March 1.

Our 2020 Payroll Compliance Reporting and W/2/1099 products will also support the preparation of 1099-NEC reporting of non-employee compensation.

  • Additional e-filing capability:
  • Amended Individual Returns (1040-X) - we began supporting e-file for the 1040-X in 2019, and this will now be standard.
  • State Business Returns - The following states now have expanded business e-filing.
  • Arizona - now added 1120, 1120S, 1065, 1041
  • Hawaii - now added 1120, 1120S
  • South Carolina - in addition to 1120 and 1120S, we now support 1041
  • Indiana - in addition to 1065 and 1120S, we now support 1120
  • 1040-NR - We will be supporting e-filing for the most common 1040-NR scenarios. There will be a handful of non-supported worksheets related to 1040-NR that are not widely used that will not have e-file support. For details, see this KB article.

Did you purchase Advanced Calculations and Compliance ala carte this year?

If you did, and you're wondering "where to start", then take a look at the short videos under "Automating Advanced Calculations" in the ATX Learning Portal. If you're just hearing about this new set of features, contact your Account Manager.

Security - ATX's role and Your Role

At Wolters Kluwer, data security is of utmost importance. When you use ATX, rest assured that we've got you covered when it comes to security threats and maintaining strict compliance with industry and global security guidelines.

However, security doesn't start or end at the tax application. To ensure the overall security of your business, it's vitally important that you:

  • Always get software updates not only in ATX but in all your business applications.
  • Practice "safe computing" protocols, such as using strong passwords and taking care to "securely" exchange data with your clients.
  • Build and implement a solid Security Plan for your business.

Don’t know where to start? Contact your Account Manager about CPE courses that cover this important topic.