Here's a video of the process!
A helpful feature of Tax Statements is that you can access previously generated tax statements within seconds instead of needing to spend minutes generated new statements for your church. You can view previously generated batches of statements by going to the Tax Statements section of the Giving Dashboard:
Once a tax statement is generated, the tax statement will remain the same even if a specific donation within the tax statement is edited (for instance, if a donation is refunded). Because of this, if someone needs a new Tax Statement to reflect changes (for instance, to show a new donation or to remove a refunded donation), you will need to either generate a new tax statement batch for the date range, or you can use the "Regenerate Tax Statement" option at the bottom of any previously generated Tax Statement in the list (which is the easiest way to handle this):
Pressing the Regenerate Button will cause the old statement batch to be overwritten with a new statement batch which reflects changes that were made to donations within the date range of the batch. Note that this means that Regenerating can take anywhere from 10 to 120 seconds depending on the size of your church and the date range that is used.