Release Notes

In this release, we've expanded support for additional Classify and Capture documents and enhanced Mortgage Analyze with improved income calculation logic.

What's new?

Classify and Capture

New Classify and Capture supported documents

The Classify and Capture supports are enabled for the below tax documents:

• 1065 Schedule B (2021) - Other Information
• 1065 Schedule B (2022) - Other Information
• 1065 Schedule B (2023) - Other Information
• 1065 Schedule B (2024) - Other Information
• 1120 Schedule C (2021) - Dividends, Inclusions, and Special Deductions
• 1120 Schedule C (2022) - Dividends, Inclusions, and Special Deductions
• 1120 Schedule C (2023) - Dividends, Inclusions, and Special Deductions
• 1120 Schedule C (2024) - Dividends, Inclusions, and Special Deductions
• 1120 Schedule J (2021) - Tax Computation and Payment
• 1120 Schedule J (2022) - Tax Computation and Payment
• 1120 Schedule J (2023) - Tax Computation and Payment
• 1120 Schedule J (2024) - Tax Computation and Payment
• 1120 Schedule K (2021) - Other Information
• 1120 Schedule K (2022) - Other Information
• 1120 Schedule K (2023) - Other Information
• 1120 Schedule K (2024) - Other Information

To learn more, see the All Supported Documents page.

Classify

New Classify-specific documents support

Classify support is now extended for the following document types:

• Preparer Tax Identification Number (PTIN) Letter

See the All Supported Documents page to learn more.

Enhancements

Mortgage

Analyze

We've enhanced our Analyze for Mortgage product to deliver smarter and more accurate income calculations to provide greater transparency, efficiency, and control over borrower assessments. With improved income classification, employer handling, and self-employment analysis, these updates make the underwriting process more seamless and reliable. These updates bring:

• More precise income assessments through improved classification and rate handling.
• Enhanced lender control over income decisions based on ownership and financial stability indicators.
• Greater transparency and compliance with clearly documented unemployment income.
• Reduced manual interventions through automated employer handling and intelligent income exclusion rules.

The following are the detailed enhancements:

Smarter income calculations and improved accuracy

• Enhanced classification of hourly versus salary income: Previously, salary workers were occasionally misclassified as hourly, causing overstated income. The updated Analyze now follows a structured classification approach where if a paystub explicitly mentions Hourly or Salary, Analyze relies on that classification. If this information is missing, Analyze checks if the pay rate matches the current pay (indicating salary); otherwise, it defaults to hourly.

• Better management of multiple pay rates: Previously, conflicting pay rates on the same pay stub sometimes led to missing income data. Analyze now intelligently selects the most relevant pay rate, ensuring income calculations are accurate and complete.

• Annualized bonus income by default: Bonus income is now averaged over 12 months by default to prevent inflated income figures. You also have the option to switch back to Year-to-Date (YTD)-based calculations if necessary.

  

• Improved overtime and bonus income calculations: If YTD income isn't clearly itemized on a paystub, Analyze no longer uses it for calculations. Instead, it alerts you that a Written Verification of Employment (WVOE) is required for accurate assessment.

Greater Control Over Corporation Income Inclusion

A new option lets you manually include or exclude corporate income, with alerts when multiple owners are detected. By default:

• Corporate income is excluded if multiple owners appear on Schedule G.
• Included if there’s a single owner holding 100% of the business.
• Remains excluded when multiple Schedule G forms exist with no single 100% owner.

Liquidity-based exclusion for self-employment income

Analyze now automatically excludes business income if liquidity ratios indicate potential financial instability:

• An alert notifies you if both current and quick ratios fall below 1 to automatically exclude self-employment income.

• If the quick ratio is below 1 but the current ratio exceeds 1, you can manually decide whether to include this income.

  

Improved Employer Handling

• Updated employer activity status logic: The outdated 60-day inactivity rule has been removed. Employers are now assumed active unless explicitly marked inactive via WVOE. You can manually update the status as needed.
• Enhanced employer dropdown ordering: Active employers now appear first in dropdown menus, sorted by highest YTD earnings. Inactive employers are listed last and clearly labeled.

Expanded Income Support

• Military income is now included in the Income PDF, providing enhanced transparency.
• 1099-G unemployment income support:
  • Analyze calculates unemployment income based on IRS guidelines.
  • If two years of 1099-G data are provided, Analyze determines whether a one-year or two-year average is appropriate based on income trends.
  • If only one year's data is available, you receive an alert prompting them to upload the missing year if applicable.
  • You can manually toggle the inclusion or exclusion of unemployment income.

For any questions or suggestions, please contact our support team at [email protected].