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T1 Condensed (T1-TKS)

#1 User is offline   Michael Beamish Icon

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Posted 20 February 2012 - 06:01 PM

Profile has said that with release 2011.03.01 the TKS now replaces the full jacket and schedules. I cant find anything on CRA website (not unusual)I tried calling the call centre and they dont know anything about it, (again, not unusual or surprised). She has sent my request to senior agents to call me back. Any one else here know more about this?

Cheers
Mike
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#2 User is offline   Pierre Icon

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Posted 20 February 2012 - 09:08 PM

http://www.cra-arc.g...ic97-2r12-e.pdf

T1 Returns number 30,37 & 38
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#3 User is offline   R Haddrell Icon

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Posted 24 February 2012 - 12:48 AM

View PostPierre, on 20 February 2012 - 01:08 PM, said:

http://www.cra-arc.g...ic97-2r12-e.pdf

T1 Returns number 30,37 & 38


That's what I was looking for today: a list of required attachments. Thanks.
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#4 User is offline   plrose Icon

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Posted 28 February 2012 - 03:06 AM

Is Intuit going to set a T1 Condensed print so it prints only the forms required for mail.
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#5 User is offline   spenceh Icon

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Posted 28 February 2012 - 03:30 PM

View Postplrose, on 27 February 2012 - 08:06 PM, said:

Is Intuit going to set a T1 Condensed print so it prints only the forms required for mail.

Thr form is there. You have to choose it in your print criteria.
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#6 User is offline   samhill Icon

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Posted 28 February 2012 - 03:58 PM

View Postspenceh, on 28 February 2012 - 08:30 AM, said:

Thr form is there. You have to choose it in your print criteria.

Apparently, for more complicated T1s the T1_KFS has additional forms. No one knows what additional forms.

IC97-2R12 isn't clear either.

If wrong forms attached, it is supposed to delay processing! What to do?

Guess still use regular T1 if mailing. We don't do too may mail-ins, so should not be a problem for this season.
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#7 User is offline   dlarryhancockca Icon

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Posted 17 March 2012 - 06:43 PM

It would be very helpful if Intuit could provide a list of forms which the Condensed form will "summarize" so that we can tailor our print settings to NOT print those forms. For example on one client whom I have easily on hand, the T1 Condensed summary cotains information for Schedules 1 and 3, Forms T936 and T2209, provincial schedules S2, Form 428 and Form 479. So I know I can exclude them from my CRA print batch. But those are just the forms that apply to this client, What about other forms? Even easier, would be for Intuit to include a proper T1 paper Form Selection template for the Condensed Form.

Larry Hancock
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#8 User is offline   MargieR Icon

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Posted 24 March 2012 - 06:24 PM

I found this in the EFILE bulletins, of all places.

I take it from this that you don't need to attach anything else to the T1 Condensed, and it would in fact be counterproductive. There is a bar code on the first page which, like the T2 bar code printout, contains everything they need.

February 22, 2012

T1 General - Condensed Return

For the 2011 tax year, the Canada Revenue Agency (CRA) has developed a new version of the T1 General return called the "T1 General - Condensed 2011" that is generated via software. This three-page condensed version of the T1 General return is identified on page 1 as the "CRA version" and is created with a new keying field summary form, "Form T1-KFS", which contains the required field codes and related values printed in a condensed format. The T1 General - Condensed return, Form T1-KFS, and any additional required forms and schedules not included on Form T1-KFS is printed by the software and results in less paper requirements, thereby supporting sustainable development, and also realizing savings in mailing and storage costs.

If you must file a client's return via paper, and the software you are using creates a condensed version of the T1 General, print only the T1 General - Condensed return to send to the CRA. If you choose to also print another version of the return, do not send that version to the CRA. The T1 General - Condensed return as generated by the software contains all of the information required to process the return. Please take note, if any or all of a single client's "regular" T1 General is sent to the CRA along with the T1 General - Condensed return, the processing of the return will be delayed.
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#9 User is offline   Old_number_17 Icon

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Posted 24 March 2012 - 08:12 PM

Now I just did a section 217 election, and I am choosing to include schedules A through C, as I do not see anything in the keying summary referring to such...
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#10 User is offline   Ragnar Danneskjöld Icon

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Posted 24 March 2012 - 11:20 PM

Perhaps the section 217 information is contained in the bar code.

Can you see anything in there if you use those special bar-code reader glasses the CRA issued to all registered tax preparers back in 2006?
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#11 User is offline   Old_number_17 Icon

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Posted 24 March 2012 - 11:44 PM

don't start that agin... rofl

don't recall there being a barcode anyhow...
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#12 User is offline   Old_number_17 Icon

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Posted 24 March 2012 - 11:47 PM

Honorable mention:

http://community.int...__1#entry123059

but the best one ever:

http://community.int..._1&#entry122714
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#13 User is offline   dlarryhancockca Icon

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Posted 25 March 2012 - 02:25 PM

Margie wrote, and quoted from the CRA release....

Quote

February 22, 2012

T1 General - Condensed Return

For the 2011 tax year, the Canada Revenue Agency (CRA) has developed a new version of the T1 General return called the "T1 General - Condensed 2011" that is generated via software. This three-page condensed version of the T1 General return is identified on page 1 as the "CRA version" and is created with a new keying field summary form, "Form T1-KFS", which contains the required field codes and related values printed in a condensed format. The T1 General - Condensed return, Form T1-KFS, and any additional required forms and schedules not included on Form T1-KFS is printed by the software and results in less paper requirements, thereby supporting sustainable development, and also realizing savings in mailing and storage costs.

If you must file a client's return via paper, and the software you are using creates a condensed version of the T1 General, print only the T1 General - Condensed return to send to the CRA. If you choose to also print another version of the return, do not send that version to the CRA. The T1 General - Condensed return as generated by the software contains all of the information required to process the return. Please take note, if any or all of a single client's "regular" T1 General is sent to the CRA along with the T1 General - Condensed return, the processing of the return will be delayed.



Unfortunately this is not very helpful as to telling us what needs to be sent to the CRA along with the Condensed return. It IS the best we have got however.

Why do I say it is not very helpful? If you read the wording it says "The T1 General - Condensed return, Form T1-KFS, and any additional required forms and schedules not included on Form T1-KFS" which means that it is NOT sufficient to just file ONLY the condenssed return and the T1-KFS. There ARE other forms and schedules to be included as well.

It also goes on to say, "Please take note, if any or all of a single client's "regular" T1 General is sent to the CRA along with the T1 General - Condensed return, the processing of the return will be delayed." As I read that, when they refer to T1General they mean the jacket of the return.. they do not want the T1 jacket for the General return filed along with the T1 Condensed, and they do not want the extra schedules which the T1-KFS replaces.

However, nowhere have I been able to find a list of what forms the T1-KFS replaces. Not on the CRA website, nor anywhere else. Profile must have this information, otherwise they could not generate the T1-KFS.

It would be very helpful if Profile could provide to its users a list of the forms and schedules which the T1-KFS replaces.

It would also be helpful if Profile could provide a form selection template for paper filing which includes the T1 Condensed form and does not include the T1 General form. However, if I understand the "Known Issues in Profile" list, the Form Selections are still defaulting and ignoring the user selections (or has this finally been corrected in 2011.2.1 ??)

Larry Hancock, CA
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#14 User is offline   Easter1 Icon

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Posted 25 March 2012 - 03:59 PM

Crutch or tool, how do you classify profile!

If you need a crutch, why don't you hire someone who is willing to research the issues at hand, as opposed to RELYING on a software company to correctly complete your tax returns.

I would prefer if they concentrated on getting out a product that calculated CCA correctly, etc as opposed to having all these bells and whistles that just seem to muddle the environment.

Do you not check every return for the accuracy of the calculation?

Do you not confirm that your printer correctly printed every page of the return in question?

Do you not ensure that what you have done is correct?

OR are you as arrogant as you seem and just merrily go about your business blaming everyone else around you!!!!

I am beginning to understand why support is soooooo busy....

Easter

NB, Having also been presented with this issue, we researched exactly what the CRA was looking for this and have gone ahead and reconfigured the print streams to meet their needs.
If you need assistance doing then that, then please say so. Blaming profile for anything, I believe is like the carpenter blaming his hammer for the bent nail!
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#15 User is offline   tmanery Icon

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Posted 25 March 2012 - 04:29 PM

Easter,
I think the point should not be Crutch or Tool, but why the !@#$ are accountants having to waste their time with any of this stuff during tax season!
Researching what forms need to be printed does not generate income. So whether you are wasting time recalculating CCA or having to waste time researching the new forms it is still a waste of time (unbillable) at the end of the day. I paid over $2800 for my software bundle from Profile and I expect for that price Profile to perform better than the cheaper alternatives out there. I also expect it will SAVE me time, not waste my time. Otherwise yes I might as well buy another software bundle which I think is a consideration for all of us going forward.
PS I have read a lot of your posts and you seem very knowledgeable in tax, but I thought this forum was to help people, not belittle them to make yourself feel like the big man.
Now it is Sunday lets all get back to work and bill some time or we might as well go home!
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#16 User is offline   dlarryhancockca Icon

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Posted 25 March 2012 - 05:26 PM

View PostEaster1, on 25 March 2012 - 11:59 AM, said:

Crutch or tool, how do you classify profile!

If you need a crutch, why don't you hire someone who is willing to research the issues at hand, as opposed to RELYING on a software company to correctly complete your tax returns.

I would prefer if they concentrated on getting out a product that calculated CCA correctly, etc as opposed to having all these bells and whistles that just seem to muddle the environment.

Do you not check every return for the accuracy of the calculation?

Do you not confirm that your printer correctly printed every page of the return in question?

Do you not ensure that what you have done is correct?

OR are you as arrogant as you seem and just merrily go about your business blaming everyone else around you!!!!

I am beginning to understand why support is soooooo busy....

Easter

NB, Having also been presented with this issue, we researched exactly what the CRA was looking for this and have gone ahead and reconfigured the print streams to meet their needs.
If you need assistance doing then that, then please say so. Blaming profile for anything, I believe is like the carpenter blaming his hammer for the bent nail!



I guess we have differing opinions. I see no arrogance in my postings, but rather a quest for information and a means to make my returns for my clients as accurate as possible.

I believe that my posting did indeed say that I am looking for help in determining which forms to file with the condensed return. My request for Profile to provide us with assistance was made because THEY have the information I am looking for. If, as you say, you have done your research and determined "exactly wwhat the CRA was looking for" would you care to share that information with the rest of us?

Larry Hancock
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#17 User is offline   dlarryhancockca Icon

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Posted 25 March 2012 - 05:27 PM

View Posttmanery, on 25 March 2012 - 12:29 PM, said:

PS I have read a lot of your posts and you seem very knowledgeable in tax, but I thought this forum was to help people, not belittle them to make yourself feel like the big man.


Thank you for your comment
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#18 User is offline   vayala Icon

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Posted 26 March 2012 - 10:20 PM

View Postdlarryhancockca, on 17 March 2012 - 06:43 PM, said:

It would be very helpful if Intuit could provide a list of forms which the Condensed form will "summarize" so that we can tailor our print settings to NOT print those forms. For example on one client whom I have easily on hand, the T1 Condensed summary cotains information for Schedules 1 and 3, Forms T936 and T2209, provincial schedules S2, Form 428 and Form 479. So I know I can exclude them from my CRA print batch. But those are just the forms that apply to this client, What about other forms? Even easier, would be for Intuit to include a proper T1 paper Form Selection template for the Condensed Form.

Larry Hancock


From Profile's Support page:
T1 General - Condensed Return (Default Form Selection)
Updated: Feb 29, 2012Article ID: INF18863ID: 014796

The T1 General-Condensed return is an abbreviated version of the T1 General. As such, the CRA only wants to receive the T1 Condensed form, the business statements, Schedules 4 and 5 as well as any election form that applies to the return, including the T1032 Joint Election to Split Income. They do not want to receive a copy of the T1 or schedules or any other form for which a section appears in the T1-KFS section of the condensed form.

Workaround:

To verify that you are including ONLY the correct list of forms, reset your forms selection to the default settings in ProFile.

1.Go to the Options > Form Selection menu.
2.Make sure the 20xx T1/TP1 tab is selected in the top left of the Form Selection window.
3.Click the Set Defaults button at the bottom of this window.
4.When the “Restore default selections?” prompt displays, click “Yes”.
5.Click OK when done.
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#19 User is offline   dlarryhancockca Icon

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Posted 27 March 2012 - 04:23 PM

View Postvayala, on 26 March 2012 - 06:20 PM, said:

The T1 General-Condensed return is an abbreviated version of the T1 General. As such, the CRA only wants to receive the T1 Condensed form, the business statements, Schedules 4 and 5 as well as any election form that applies to the return, including the T1032 Joint Election to Split Income. They do not want to receive a copy of the T1 or schedules or any other form for which a section appears in the T1-KFS section of the condensed form.



Thanks Vayala, I finally found that page about 12 hours before I saw your posting. It pretty much gives me what I needed, and the defaults do seem to work now. I now just have to go through the defaults and tailor them further to my own needs

Larry Hancock
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