Quick answers from trusted sources
Launching in late October, the CCH® AnswerConnect AI-enabled search
bar is set to transform how you access tax research. This new feature allows
you to get AI-generated responses directly within the CCH Axcess Tax software,
saving you time and reducing workflow disruptions. The AI-generated responses
are based on Wolters Kluwer’s proprietary content, ensuring accuracy and
reliability. This means you can trust the information you receive, knowing it
is backed by the expertise and thorough research of Wolters Kluwer.
The “People Also Ask” feature provides dynamically-generated
related questions and brief answers for additional context. This helps you
explore related topics and find comprehensive answers to your queries without
having to leave the software. For common tax questions, answers are editorially
curated and validated by our in-house tax experts, providing an extra layer of
confidence. This ensures that even the most complex questions are answered
accurately and reliably.
The embedded user interface ensures you get answers at the
point of need without leaving the software. This seamless integration means you
can continue your work without interruption, enhancing your productivity and
efficiency. By providing quick and accurate answers within the software, the
CCH AnswerConnect AI-enabled search bar helps you stay focused on your tasks
and reduces the time spent searching for information.
Streamlined and centralized K-1 workflow
Available in December, new K-1 automation features are
designed to streamline the handling of complex returns with multiple K-1s. This
update includes the new Review & Reclass functionality and state import
capabilities. With Review & Reclass, you can reclassify K-1 data at the
time of import, reducing the need for pre-work in Excel or manual updates. This
feature simplifies the process and minimizes the risk of errors, ensuring that
your data is accurate and up-to-date.
State K-1 Mapping will soon be available for California,
with more states coming in 2025. This allows you to import state-specific K-1
data alongside federal data, providing a comprehensive view of all relevant
information. The ability to manage state-specific data within the same platform
enhances your workflow and reduces the complexity of handling multiple K-1s.
This feature is particularly beneficial for firms dealing with clients in
multiple states, as it streamlines the process and ensures consistency across
all returns.
Consolidated returns e-filing enhancements
Coming in December, new e-filing options for consolidated
returns will simplify the process of managing subsidiary returns. You can
configure e-filing settings for all subsidiary returns on one screen, making it
easier to manage and streamline the filing process. This centralized approach
reduces the time and effort required to handle multiple returns, ensuring that
all necessary information is accurately captured and submitted.
The ability to enter common state data once, and have it
flow into all subsidiary returns, further enhances efficiency. This feature
eliminates the need for repetitive data entry, reducing the risk of errors and
ensuring consistency across all returns.
Additionally, state-specific inputs can be entered centrally
for multi-state consolidated returns, making the process more efficient. This
feature allows you to manage all state-specific data from a single location,
reducing the complexity of handling multi-state returns. By streamlining the
process and ensuring that all necessary information is accurately captured, the
new e-filing options enhance your workflow and improve the overall efficiency
of your tax preparation process.