Did you know?
Advance Child Tax Credits that were part of 2021 tax returns contain details that can easily be noted in the Wintax Due Diligence feature. Why not maximize our Due Diligence option to be sure you are maintaining information most important for your records? This feature not only allows you to craft your own sets of questions, but also saves any data you input about your clients for use in next year’s returns. You can store up to 9 additional “yes/no” Due Diligence questions. Plus, there is space for more notes! These questions and answers are not transmitted to the IRS during E-File. They are for your reference in case of an audit or other line of inquiry.
DUE DILIGENCE SCREENTo use this feature, in the due diligence screen of Wintax, select the option Additional Questions. Then type up to 9 questions that will be asked of everyone needing to complete due diligence this year. Finally, check the box that states “Lock Questions”.
ADDITIONAL QUESTIONS SCREENNow, all preparers will have access to these questions and can answer them, making your records that much sturdier should the IRS ever come knocking.