TaxMan74

Well, honestly, I don't have a backup plan. In my area, folks haven't gotten all of their W-2 forms and other information. Typically, my season begins around the end of January. Right now, I have S-Corps, one partnership, and one individual with multiple rental properties that have come in. I am working with one S-Corp providing them with remaining depreciation of their assets for purposes of selling and liquidating that corp. So, I do handle individuals but normally work with the higher end client. I haven't processed a RAL within the last 5 years as I don't deal with those clients and if I do have one come in, I talk them out of doing the RAL as well as any other bank products. Heck I don't even know if RALs are even available to us anymore. To answer your question, I am patiently waiting of the updates for the short term. It doesn't matter to me at this late date what software to use as there will be a learning curve and just as many frustrations if not more and I'm not willing to go there.

For the long term, if the season is full of trouble with TRX then I will probably make a switch. Personally, I don't want to see that happen but if it does, then it does.

Terry,

Did you do any test tax return for S-corp, Corp or Partnership using Taxexact?. I do have few business returns and anxious to see how it is working.

Thanks

Taxed, I would suggest you uninstall the adobe pdf reader as well.

My first appointment is on Saturday. I feel little comfortable with this software. I hope Doug will fix all the pending issues. I'm going to start scheduling the business return in the middle of Feburuary. What bothers me is the watermark in the return.

That is my back-up plan too (to go with TaxAct). But, I'm going to wait till this friday to see some concrete updates come along to put us away from the miseries

So why wouldn't TaxACT be a perfect fit for the 100 client preparer? $ 99 and charge an extra $ 8 on every return to pay the $ 8 e-file fee, or $600 and simply add $ 6 to every return to recoop the cost...this seems WAY too easy??? I can tell you from personal experience that Tax ACT will take you about 10 minutes to learn to use. There may be a few obsucre forms it doesn't support, so I'd get a list of the more unusual forms from your more unusual clients and call them first to very the form is supported. But I used it for years without any problems...in fact, it was such a small program I installed it to a thumb drive and just took the drive with me to clients home and used their computers to do returns (this was before laptops became so cheap).

Let us not forget that for each state filing they charge 3.95 for each state. The fee we pay to Taxact add up fast.

Crank is your version 4.0.0.10 or different? Because my screen Sch A shows a line # with a figure but the same line# on PDF is 0???

Crank, what I would do is uninstall the software and then install it again. Once installed, update the current version, too. Let us know

Proformaed returns don't pull prices out of default price list.

Proformaed returns show only taxpayer's first name and SSN, no last name, no address.

For MFJ returns, only spouse's first name and taxpayer's SSN, no last name, no address.

I ran into the same issue when I did a trial return. Hopefully, next update will fix this issue.

When you email Doug and get a response form him about when the issue will be fixed, please post here the details. I will update the main post with the details

Hi,

Please post all the issue in this post. I will compile and have them here (1st post) for our easy reference.

1) Capital gains worksheet does not allow VARIOUS or INHERITED as a literal in the purchased date field - reported by Don In Upstate NY

Response: When we updated to version .10 the developers reformatted the form with various and Inherited it will be corrected in the next update. (01/21)

2) Invoicing by form won't flow to pro formaed returns.

3) Form 8829 Real estate tax and Mortgage Interest deduction not subtracted from Sch A. causing more than 100% of those expenses being deducted.

Response: I just did the 8829 and if you do the 8829 form first and put in your indirect expenses, then choose the schedule A the unused portion of the property taxes and mortgage interest does flow to the schedule A.(01/21)

4) Taxpayer Name Formatting on 1040EZ , 1040A and many schedules wrong or missing.?

Response:This should be corrected in the next update (01/21)

5) LBL_ fields in Sch C ?

Response:This should be corrected in the next update (01/21)

6) When will state updates be turned on ?

7) Form 8829 line #40 not calculating.

8) Form 8829 Real estate tax and Mortgage Interest deduction not subtracted from Sch A. causing more than 100% of those expenses being deducted.

Response: See above same as question 3 (01/21)

9) Taxpayer Name Formatting on 1040EZ , 1040A and many schedules wrong or missing.

Response: See above same as question 4 (01/21)

10) When will the import of stock transaction from Excel will be ready?

11) Prices not flowing to invoice for most forms on proformaed and new returns alike.

12) Invoice does not have header with company or preparer name. Is that even planned in the future?

13) Typos in Client Information Sheet, such as: a)"Is your spouse itemized deductions?" b)"Occupation of death only if in Last year or this year:" c)No line for "Surviving Spouse:" d) the questions "Blind?" and "Disabled?" share a "No" box

14) Proformaed Return Issues : a)Proformaed returns don't pull prices out of default price list. b)Proformaed returns show only taxpayer's first name and SSN, no last name, no address. c) For MFJ returns, only spouse's first name and taxpayer's SSN, no last name, no address.

Response: I am getting this fixed, at first I was not following you but I get it now.

15) Program is not allowing a dependent last name to be different than the taxpayer. If overridden on interview mode it defaults back to taxpayer last name. If overridden in the input mode it gives a Error Rejection Code.

16) Program is not allowing a dependent last name to be different than the taxpayer. If overridden on interview mode it defaults back to taxpayer last name. If overridden in the input mode it gives a Error Rejection Code.

I checked the A-T-F payroll and it is showing 2011 forms and has lot of bugs . When will the program ready ,since 01/31 is approaching us fast?

Thank You, Doug. Appreciate it.

I see that Form 4562 is available now in IRS website even though IRS mentioned it will be availabe in late Feb or early March:

http://www.irs.gov/pub/irs-pdf/f4562.pdf

Will this form will be incorporated into TRX soon?.

I'm waiting for a Schedule E video presentation like one he did for Schedule C.

Doug,

Do you have an option of importing all the stock transaction from excell in 8949 form?. I have few clients who do quite a lot of stock trading (500+) , and I hate to enter manually.

Thanks

Doug,

Does your software will have all the business form (1120S, 1065, 1120) on Friday?. IRS sent an email stating that they are ready to accept business return.

" All 2011 tax year and 2012 fiscal year business returns, including Form 1120 series"

Doug,

What is the cost of Taxworks from you?

Doug,

Does this software efile business return as well?. Last year even though it was mentioned that TaxExact will do business return efile but found out that it had issues. Did all the issues related with efiling resolved?

I used Taxworks last year, I'm willing to give a try to TaxExact this year.

Hi All,

Anybody heard anything about the contract situation between Taxworks and TRX?. I rather go with Taxworks than Taxexact. Taxexact may be good and my hesistation is not to learn a new software two years in a row. I hope I get Taxworks from TRX

I bought the TaxExact Pro recently from TRX and haven't installed in my computer yet. Once I installed the software, I will let all of you know how it goes. I bought it for $499 + S&H . Wish me luck!!!

I like many others on this board who purchased ATX through TRX for 2009 were offered the option to purchase the $699 version of TaxWorks from TRX for $299 plus shipping, as a replacement of ATX for 2010 due to TRX losing their license with ATX.

The best news is that all subsequent renewals every year as long as you renew before May 1, are fixed @ $299.

The only issue is that TRX may lose its licensing agreement with Tax Works and offer yet another solution in the future. They do have a new home grown product for 2011 called Tax Exact. I have reviewed it and found it to be a decent product with some stability issues. They are very receptive to comments and criticisms and seem to make timely corrections and enhancements.

At this time I chose to stay with TaxWorks as I find it to be quite robust and comprehensive.

Best of luck

Mike Dubin CPA

Thank You, Mike. Appreciate your help.

I have noticed that most of you have bought the TRX Premium 1040 software (MSRP $699) for $299. I'm wondering how you were able to get that price.Can anyone of you hook me up with the sales rep who sold you. I got $449 as the lowest quote so far.

My business is a semi-rural area and I can't afford expensive software and the business is soft. I used TaxAct and found it expensive if you add all the business modules and efiling.

Advance thanks for your help !!!

Another 5 months till the tax season :P