New Tax Practice Software Features

Enhancements to iTax- VAT Obligation Registration Changes: -VAT approval is now separate from other registration tasks (e.g., PIN changes, director updates). -New menu for applying for VAT obligation. Validations added: -eTIMS onboarding status required. -Active Tax Compliance Certificate (TCC) required. -Directors of companies must have valid TCCs. -Checks for associated businesses in VAT special table. -Document upload list provided. PIN Checker Enhancement: -Now shows Tax Service Office (TSO) where PIN is domiciled. -Available on iTax portal, KRA M-Service App, and USSD (*222#). Reorganization of Registration Menus: -Improved UX with grouped and renamed menus (e.g., Taxpayer Profile, ------Amend PIN Details, VAT Application, Excise, Withholding Tax, etc.). New Standalone Menus: -Update Contact Details (with OTP validation). -Change Accounting Period/Year-End. Data Privacy Update: -Parent/spouse details disabled in taxpayer profiles. MRI Property Registration: -Redirect from iTax to eRITS for property registration/updates. Foreign PIN Applicants: -API for non-resident investors to apply via Kenya Investment Single Window (KISW). Overpayment & Instalment Adjustment Vouchers (OAVs & IAVs): -New workflows for applying and approving vouchers. -OAVs can offset most taxes except PAYE, VATWHT, WHTIT, WHTRENT. -IAVs offset future instalment payments only. Income & Expenses Validation: -Cross-checked with eTIMS invoices, withholding tax data, and import records (effective Jan 1, 2026). -Exceptions under Tax Procedures Act and Regulations apply. Amendment of PIN Without Obligation: Fixed issue where fields were greyed out. Obligation Cancellation Errors: Resolved system errors during cancellation requests. Turnover Tax Cancellation: Fixed misleading pop-up message. MRI Returns Amendment: Resolved property registration-related errors preventing return amendments.

Intuit just dropped a packed slate of February updates, and I recapped it all in the latest episode of The Unofficial QuickBooks Accountants Podcast. If you’re not paying attention, you might miss some real game-changers for your practice. In this episode, I break down everything from Intuit’s February ProAdvisor In the Know webinar, including: 🔹 A new Affirm Buy Now Pay Later option that will automatically appear on client invoices starting in March 🔹 Major bank feed improvements — customizable columns, a frozen action column, faster posting, and blank-payee warnings 🔹 An AI-powered deduction maximizer inside QuickBooks to surface overlooked tax deductions by business type 🔹 New construction-specific tools in Intuit Enterprise Suite: project phases, cost groups, negative change orders, and AI-style invoicing 🔹 User group management coming to Intuit Accountant Suite for firms managing teams at scale 🔹 A July teaser for Intuit AI agents that will handle invoicing, payment tracking, and book reconciliation If you want to stay ahead of what’s changing in QuickBooks and what it means for your clients, this episode is worth your time. Listen here: https://uqb.show/131

KRA has made major iTax enhancements in the past month per the Notice below. Top 10 key enhancements include; 1. Income and expense declarations in tax returns are validated against eTIMS invoices, withholding tax filings, and customs import data, subject to Section 23A exceptions; enforcement begins on 1 January 2026. Ensure you undertake your eTIMS income & expenses reconciliations before 31.12.2025. 2. VAT obligation applications now use a dedicated iTax menu, delink from other registration tasks, require active eTIMS onboarding, valid tax compliance certificates, director TCCs, and an uploaded supporting documents checklist. 3. PIN Checker now shows the Tax Service Office domiciling each PIN, enabling taxpayers to identify where to follow up and retrieve PINs using the KRA mobile app or USSD service. 4. The iTax registration menu has been reorganized to improve user experience by grouping similar functions, renaming submenus, and consolidating profile, obligations, excise, withholding, MRI, exemptions, agent, and turnover tax features. 5. Change of accounting period and year end requests now have a dedicated iTax menu, delinked from other profile amendments, letting taxpayers initiate and manage period changes online without manual intervention. 6. iTax now disables display of parents and spouse details during PIN application and profile consultation in both taxpayer and back office views, strengthening personal data privacy and reducing unnecessary exposure. 7. iTax now redirects taxpayers to eRITS for MRI property registration and updates, streamlining registration workflows while auto approval of MRI obligations in eRITS continues to be implemented gradually over time. 8. An API with the KenInvest single window enables non-resident foreign investors to apply for Kenyan PINs via KISW, creating an iTax task which follows standard processing and approval workflows. 9. Overpayment Adjustment Voucher workflow allows taxpayers to apply under refunds, generate an OAV task at Tax Service Office, and use OAVs to offset most liabilities excluding PAYE and certain withholdings. 10. Instalment Adjustment Voucher workflow auto populates instalment overpayments, creates a Tax Service Office task, and issues IAVs which can only be applied to offset future instalment payments during registration thereafter.

Microsoft has introduced the new Establishments feature in D365 Finance 10.0.48, allowing a single legal entity to manage multiple SIRET, VAT, and Branch IDs. This enhancement provides finance teams with greater flexibility and efficiency in handling complex organisational structures. Key benefits include: - Streamlined management of multiple identifiers under one legal entity. - Improved compliance with local regulations regarding SIRET and VAT. - Enhanced reporting capabilities for financial analysis. This practical guide aims to assist finance teams in effectively utilising the new feature to optimise their operations.

I recently did a demo of CoCounsel by Thomson Reuters, and wow…   AI for accountants is starting to look very different from generic AI. Paid partnership with Thomson Reuters.   CoCounsel is agentic AI, meaning it doesn't just answer questions; it actually helps you work through complex accounting tasks.    During the demo, I tested CoCounsel by: - Building custom templates for things like tax return video summaries and workpaper review checklists - Exploring templates, workspaces, and document-based workflows - Researching a nuanced rollover tax question involving after-tax 401(k) contributions, Roth accounts, and taxability of earnings - Asking follow-up questions to see whether it could handle changes in facts and still stay precise - Reviewing how it linked answers back to source material like Checkpoint and IRS guidance - Testing whether it could help explain UltraTax inputs and the reasoning behind them Everything is secure & not used for training inside CoCounsel, so you can feed it documents with sensitive information.   What impressed me was that this kind of tool could help newer staff understand not just what to do in tax software, but why they are doing it… which could make it valuable as a training aid, not just a productivity tool.   I see a ton of potential with this platform as they develop templates you can use.   If you're thinking about how AI fits into your firm, check out this checklist on how to build a modern AI strategy in your tax firm: https://lnkd.in/gEjJVSM2 PS - This video is sped up cause LI has a 15 minute video limit rule :)