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Process tax returns

Tax returns can be processed from a register or from the account binder. Processing from a register lets you select one, some or all the accounts in the register to process. See
Submitting a tax return processing request
 section for details.
During processing, ONESOURCE Trust Tax calculates the data reported on the tax return, determines if the return is qualified or disqualified for e-file, and applies the balance due payment options. Before processing tax returns each year, complete the following tasks:
  • Review the PAN level options that determine whether a return is qualified or disqualified for e-file. See 
    Set PAN level options for federal and state e-file and balance due payments
     for details.
  • Review the BNC for each account. See 
    Enter business name controls
     for details.
  • Review the state balance due payment options for each account. See 
    Set the federal and state balance due payment
     for details.
ONESOURCE Trust Tax determines whether federal returns are qualified or disqualified for e-file based on IRS Business Rules. Refer to the table at the end of this document to determine which states require the federal return to be either qualified or accepted for e-file before the state return can be E-Filed.

About processing accounts requiring dual return processing

Beginning with tax year 2021, accounts requiring dual return processing (Section 4947(a)(1) trusts that require both 1041 and 990 return reporting) can be processed, tracked, and E-Filed separately. For these accounts, the dual return processing flag must be set before processing. See the Processing 990 Return Types guide if you need to set the dual return processing flag.
When processing accounts requiring dual return processing, you will need to submit 2 separate processing requests: one to process the Form 1041 return and one to process the 990 return type. For these accounts, if you submit your processing request from the account binder, you can select
Switch to 1041
 or
Switch to 990
 from the
Account Action
 dropdown list to switch between the return types and process each return accordingly.
If the account generates Form 990-PF, processing the 1041 return first ensures that any tax liability calculated on the 1041 return automatically transfers to the
Tax under Subtitle A
 field in the
Part V & VI Tax on Investment Income
 collapsible section on the account binder's Form 990-PF page.

Submit a tax return processing request

To submit a tax return processing request:
  1. Access the Process page or pop-up window.
    • From a register, select the accounts you want to process. To select one or more accounts, mark the checkbox in the 2nd column. Don’t mark any checkboxes if you want to process all accounts in the register. Select the
      Process
       subtopic.
    • From the account binder, select
      Process
       from the
      Account Action
       dropdown list.
  2. In the
    Process
     collapsible section, select
    Tax Return
     from the
    Request
     section.
  3. Select the type of return you want to process from the
    Document option
     dropdown list. For accounts that require dual return processing, select
    Federal and state
    ,
    Federal Only
    , or
    State Only
     to process the 1041 return. Select
    990
     to process the 990 return type. Select
    5227
     to process the 5227 return type.
  4. Select
    Process
    .
  5. Select
    OK
     when a message asking if you are sure you want to submit the accounts you selected for processing displays. The Process page is updated with the message:
    Batch Submitted for Processing
    .
  6. Select
    Close
     to close the Process page. You can now review the processing status of your processing request. See
    Review the processing status
     for details.

Review the processing status

After a batch is submitted for processing, use the following collapsible sections on the Request Status and History page to review the processing status:
  • Current Requests
    : Lists the batch until the request completes.
  • Request History
    : Lists the batch after the request completes. The number of accounts that were not submitted for processing is listed in the
    #Errors
     column. If the number in the
    # Errors
     column is not 0, use the
    Request Errors
     collapsible section to determine the error.
After the accounts are submitted for processing, review the processing status. Use the
Currently Processing
 register to review the processing status for multiple accounts or the Event History page in the account binder to review the processing status for 1 account. There are 3 possible processing statuses:
  • Pending
    : Indicates that processing hasn’t started.
  • Processing
    : Indicates that processing started.
  • Needs attention
    : Indicates that processing stopped because of an error. Review the error using the
    Reason processing stopped
     column in the
    Currently Processing
     register, or the
    Status Error
     column under the
    Current Events
     collapsible section on the Event History page. To clear the error, correct the account data that caused processing to stop then reprocess the account.

This article applies to:

  • PRODUCT: ONESOURCE Trust Tax
  • Subject: e-file