Every client asks how it's looking the day they send their documents. The workpapers compute the return from income through taxable income, the tax, credits, other taxes and payments, so you can give a provisional answer that day, with what's still outstanding listed.
The workbook shows the estimated refund or balance due next to the prior year as filed, with what drove the swing: a new job's lower withholding, a smaller Schedule C loss, a K-1 that moved. It's built from the client's actual documents, not a questionnaire.
Have the estimated-payment conversation, the extension conversation, or the "send me that missing 1099" conversation in March instead of April. Safe harbor and §6654 exposure are on the Payments tab.
When the prepared return comes back, the comparison ties it to the number you already gave the client. If the two don't agree, you see why before it's filed.
No. The estimate comes with every 1040 workbook, because the workpapers carry the full computation. It's provisional until the open items are cleared, and your preparer makes every determination.
State items are collected in the workbook for the preparer; the estimate covers the federal return.
It's part of the 1040 workbook, from $79. Your first workbook is free with your firm's email.
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