Several other T1 Software providers have already received certified Schedule 3's with regards to the capital gains inclusion rates for the 2024 T1's and tax preparers have been able to efile returns that have capital gains since March 12th. I was just in a chat with someone named Vanessa from Profile who is blaming this on CRA. CRA has already done the fix and it is Profile dropping the ball here, it seems. I was told there is no estimated time for them to have this update completed. I wish they would be upfront and offer users a partial rebate to their paying clients!!
Yes I agree. This is very frustrating. Good communication could relieve some of this. I don't know when to tell my clients I will be able to process their returns.
My clients are getting frustrated with my not being able to process their tax returns with Schedule 3's. In some cases, very large refunds are expected so I feel my tax prep business may be getting some distressed and angry clients if this isn't resolved soon. Thanks.
There are likely thousands of taxpayers (that we tax preparers have as clients) who are waiting for large refunds due to this delay. Because of this delay, they lose income from the refunds that could have been re-invested by now or pay down mortgages or lines of credit and the like! I doubt Profile realizes how many Canadians they have affected in this situation.
It may be time for the accounting fraternity to bring this issue to the attention of the television news!
To date, only 12 of the 23 EFILE Certified Software Programs for the 2025 EFILE Program [2024 Tax Year] include approved Capital Dispositions. Sadly, Profile is still not one, however their TurboTax for Windows appears to have been approved so there may be hope of it happening this week.
Here's the approved Efile Tax Software for those considering a Tax Program swap:
AdvTax |
Cantax–T1 Plus |
CCH iFirm® Taxprep |
FutureTax 2024 for EFILE |
Personal Taxprep |
StudioTax Enterprise 2024 |
TaxChopper Pro |
TaxCycle T1 |
TaxFreeway Express |
Taxtron Mac Pro |
TaxTron Web |
Taxtron Win Pro |
S3 will be available in the update 2024.3.7 planned for tomorrow. Sorry for the inconvenience,
This whole delay has been unacceptable. I have clients who are expecting significant refunds and are pi$$ed. Of course they blame me for this delay. If other software providers are able to process their returns why not Profile customers?!! I will have to consider making a change next year.
Mario B...sorry just doesn't cut it anymore. Not only has there been an unnecessary delay for our clients but also deception as to Profile's responsibility for poor service here. I am sure many of this year's Profile users will be switching to a more competent service like TaxCycle for next year. Your reputation has been tarnished!
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