ATX 2022 RELEASE NOTES

Tax Year 2022

Version 22.1

January 2023

Installation Instructions

The following installation types require the 22.1 update:

  • Stand-Alone
  • Workstation Only
  • Workstation/Server

Server Only installations do not require the 22.1 update.

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

Regulatory Change

In Fixed Assets, Section 174 research and development assets (Z-5) placed in service after 12/31/2021 will default to amortize for a 5-year recovery period.

Version 22.0

November 2022

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 2022. After the restart, ATX installation will continue and complete automatically.

Installation Instructions

For information on installation, see the Learning Portal.

What's New

Regulatory Changes

  • Section 179 deductions for qualifying assets have a $1,080,000 dollar limit and a $2,700,000 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:
  • the standard mileage rate for January 1, 2022 through June 30, 2022 the rate is 58.5 cents per mile.
  • the standard mileage rate for July 1, 2022 through December 31, 2022 the rate is 62.5 cents per mile.

The depreciation component when the standard mileage rate is elected is 26 cents per mile.

Yearly Auto limits:

  • Luxury Auto (V5): If first year placed in service is 2022, depreciation limits are $11,200 with no bonus, $19,200 with Bonus.
  • Trucks/Vans (V7): If first year placed in service is 2022, depreciation limits are $11,200 with no bonus, $19,200 with Bonus.
  • Sports Utility Vehicle (V6): Section 179 limit is $27,000.