Tax Organizer Questionnaire - What's New for 2020?

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#1
Wiles  
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For those of you that send out questionnaires to your 1040 clients each year, what *new* questions have you added for this year?
 

#2
sjrcpa  
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I haven't done anything yet, but will ask about PPP loan and EIP.
 

#3
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Have not prepared them yet but am hoping I can find template questionnaires. I liked UT''s but since I no longer use them, do not have access to what they may include as questions for 2020. I do not see where Lacerte has added anything specific to 2020 but I want to make sure I add questions about PPP, EIDL, EIDL advance, forgiveness status, stimulus money, etc. I am going to have to devote a couple of days to updating all of my engagement letters for taxes. Hate it!
 

#4
belle  
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CornerstoneCPA wrote:. I do not see where Lacerte has added anything specific to 2020


Lacerte added three abbreviated questions under a new header "CARES"...." asking about EIDL, PPP, Covid related retirement distributions. I plan on expanding on those.
 

#5
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In addition to what's already been mentioned, I think it's important to be cognizant of the remote work/work from home COVID dynamic shift. Many individuals have relocated while continuing to work for the same employer remotely, or have "temporarily" moved to a lesser populated area, with plans to return to their domicile/home/etc once things get back to normal.

For that reason, I'll be designing a simple question that will help determine if an individual client spent any material amount of time away from their state of residence during 2020.

CornerstoneCPA wrote:Have not prepared them yet but am hoping I can find template questionnaires.


If you're a member of the AICPA's tax section, their annual compliance kit includes organizer templates.

If you're not a member of the tax section, I highly recommend it. The included subscription to the Tax Adviser magazine alone is worth the additional fee.
 

#6
Webster  
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A small thing, but in addition to the above, asking for the amount of any charitable contributions even if the client is not planning on itemizing.
 

#7
Wiles  
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For that reason, I'll be designing a simple question that will help determine if an individual client spent any material amount of time away from their state of residence during 2020.

This is a good one. This is one of those questions that makes your head droop when they answer Yes.

ManVsTax - Can you provide a (copyright protected) summary of any questions that the AICPA have added to their list?
 

#8
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I'll circle back once I've had a chance to review them in detail. I gave the individual organizer templates a quick skim when they first came out, and the only question that stood out as new was an EIP question, which I'll be modifying as I noted here:

viewtopic.php?f=10&t=19995
 

#9
CathysTaxes  
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The Tax Book usually publishes an organizer.
Cathy
CathysTaxes
 

#10
Wiles  
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Thanks. I am happy with my existing questions. I am just looking for what's new. What we should consider adding to our existing questionnaire.
 

#11
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With regards to the residency issue we need to be aware that many states in the northeast have passed laws similar to Massachusetts TIR 20-5 where they say we do not care if you worked out of state (ie no tax New Hampshire) your wages are still taxable in Massachusetts.
 

#12
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CathysTaxes wrote:The Tax Book usually publishes an organizer.


I do not really see anything new or specific to 2020 in their organizers.

The target questions will be where they worked/lived, stimulus money, PPP/EIDL/EIDL Advance, if they utilized any provisions of the CARES Act, etc. I know I am looking for specific wording used by some of the producers of the organizers but AICPA, Tax Book, and others I have seen do not include anything. Lacerte did add a few but not satisfactory, IMO. I may end up having to devise questions based on topics in my head and discussions on this forum.
 

#13
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Three new questions: 1. EIP, 2. "Did you make at least $300 in charitable contributions by check or credit card? If not, how much?", 3. separating unemployment compensation into its own question.
 

#14
belle  
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CornerstoneCPA wrote:
.... Lacerte did add a few but not satisfactory, IMO. I may end up having to devise questions based on topics in my head and discussions on this forum.


I agree. I'll *share* what I come up with if you will too :lol:
 

#15
HowardS  
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New question:
Are you going to make some attempt to fill in this organizer or am I wasting my time sending it to you?
Retired, no salvage value.
 

#16
ATSMAN  
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I was almost 90% done editing my organizer but then we heard that the Covid relief package is almost ready to be voted tomorrow. I think I will hold up for another week to see if it has any new details :o :o :o
 

#17
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belle wrote:I agree. I'll *share* what I come up with if you will too :lol:


Deal.
 

#18
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This is what LaCerte added. Ugh...

CORONAVIRUS AID, RELIEF AND ECONOMIC SECURITY ACT (CARES ACT):

-Did you receive an economic impact payment? If so, how much?
-Did your business have any PPP loan amounts forgiven?
-Did you receive a distribution from your retirement plan because of COVID?
 

#19
Wiles  
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Wow! I am surprised Lacerte remembered they had an Organizer.
 

#20
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Wiles wrote:Wow! I am surprised Lacerte remembered they had an Organizer.


Given the typical client does not use them, they are nothing more than an aid for questions tax preparers need to ask. :roll:
 

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