Observations are generated automatically from the IRS data in a client’s profile. They can vary by client and tax year and reflect the records available at the time they are generated.
The statements on the Observations tab of your TaxStatus platform are provided for informational purposes only and do not constitute tax, legal, or financial advice. They are based on available data and may not reflect a complete or current view of a taxpayer's circumstances. Advisors should not rely on these observations as a substitute for professional judgment and should consult a qualified tax professional before making any tax-related decisions or recommendations.
Before You Begin
- To edit observations, your client must have completed consent, and their records must be available from the IRS.
How to Include or Remove Observations
From the Home screen of your TaxStatus dashboard, search for a client and click View financials. Select the Observations tab.
- To remove an observation you don't want, select the X next to it.
- To Include observations in the Financial Baseline report, check the labeled box.
- Generate the Financial Baseline report with or without the observations.
Note
The TaxStatus Observations offering is still in beta. If an observation doesn’t look right, let us know through the button in your dashboard, or email support@taxstatus.com.