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Set up Federal tax adjustments

The setup area for tax adjustments allows you to review, add, and select federal tax adjustments for estimated payment calculations. You can also copy and paste tax adjustment numbers and descriptions from Excel. Permanent and temporary adjustments flow to this area from ONESOURCE Tax Provision.
When setting up tax adjustments, you must enter an adjustment number, description, and select permanent or temporary. The box will be automatically selected to include the tax adjustment in the calculations.
note
Tax adjustments that come from ONESOURCE Tax Provision are identified in a gray colored section. You can copy these adjustments but can't delete or edit them in Estimated Payments.

Add tax adjustments

  1. Go to
    Setup
    ,
    Federal
    , and then
    Tax Adjustments
    .
  2. Select the
    Year
    .
  3. On the toolbar ribbon, click
    Add
    .
  4. Include
     is selected by default. It includes the tax adjustment in the calculations.
  5. To have a tax adjustment amount annualized in the calculation, select
    Annualize
     for the related tax adjustment.
  6. Enter the
    Adjustment number
     and
    Description
    .
  7. Enter
    Permanent
     or
    Temporary
     unless this value has flowed from ONESOURCE Tax Provision.
  8. Select
    Show Order Column
     to display an additional column, Order. This allows you to define the order in which each tax adjustment appears throughout the system. The system defaults to displaying the adjustment number for each type.
  9. Select
    Save
    .
note
The application shows all tax adjustments which flow from ONESOURCE Tax Provision with a gray background color.

This article applies to:

  • PRODUCT: ONESOURCE Estimated Payments
  • Subject: Setup