Entities - what are they and how TFX helps manage them

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What is an Entity?

We have introduced a new feature inside TFX, which allows you to track your businesses, trusts, and other legal structures within TFX.

While primarily a personal tax preparation service, TFX clients have businesses, trusts, corporations, and other entities. 

We have introduced this new feature to help track due dates, filing requirements, and allow clients to have full transparency to the status of their filing requirements and deadlines for these entities. 

To work with your entities, browse to the  Entities section. 

Entities can be added either automatically or manually. If you've indicated in your TQ that you have US Corporation, Foreign corporation, or Trust, information about them will be added to this section automatically. 

Adding an Entity

To add information manually, follow these steps:

1. Browse to Entities section, then click + Create New Entity button.

2. Select the entity type ( Foreign Corporation, US Corporation, US Trust, or Non-US Trust), enter all necessary information about your entity, then click Save

The information about the entity will be added to the Entities section. Click the pencil icon if you need to change/add any information on a saved entity or to delete it (see below).  

Deleting an Entity

If you delete an entity, we will automatically remove any unpaid extension requests. If you have paid for an extension, we will maintain the history of the extension for your records.

To delete an entity, browse to  Entities section, click the pencil icon next to it, click the Delete account link, then confirm by clicking the on the Delete button. 

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