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taxperson

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  3. Efile SS benefits only income ?

    in E-File

    Posted

    This is what I'm worried about. I don't think it will transmit the bank information to the IRS if it's not entered on the tax return We don't have a state tax return to file, only a federal return to file. But it won't let me creat the efile with the bank information. They are my in-laws and we can still mail the return in instead of efiling. But I read somewhere, that the return had to be efiled i only SS benefits were the only qualifying income to be reported if they were filing only to receive the stimulus payment. (Sure hope she brings my stimulus drugs next month)!!!!!!!!!!

    It might be best to wait until March 19. http://www.irs.gov/efile/article/0,,id=169830,00.html

    Change #12 includes the Economic Stimulus Payment update. http://www.irs.gov/pub/irs-utl/1346fsc12.pdf

    "TY 2007 Publication 1346 Part I – File Specification Change #12

    Economic Stimulus Payment

    The changes are identified by two vertical bars in the right margin (||).

    Deletions are identified by a hyphen followed by two vertical bars (-||).

    These changes will be implemented nationwide March 18, 2008."

    It doesn't look like the IRS has updated all the reject codes so there's no way of efiling direct deposit information. They'd just reject it.

    There's a sample paper return posted by the IRS. http://www.irs.gov/pub/newsroom/1040a.pdf

    Line 7 is being used for self-employment income, Line 14a for non-taxable social security & veterans benefits and line 40 is showing nontaxable combat pay. But this is for a paper return so if the only income is on lines 14a or 40, you'd still have to put the $1 of interest income on line 8a to get the return to e-file. Again, waiting until they "officially" allow efile would be a good thing.

    Sadly, I haven't found any specific instructions for efile yet. If anyone has seen them, feel free to post.

  5. Do spreadsheets get e-filed?

    in E-File

    Posted

    I'm dividing income between the final return (taxpayer was 104!!) and the 1041. If I create a spreadsheet within ATX that shows the allocation, will it get e-filed? If not, I would prefer to file paper. Thanks in advance.

    No. The IRS is very specific about what should be included in an efile. The IRS doesn't get your spreadsheet.

  6. help with e-filing returns

    in E-File

    Posted

    Thank you. Now do i need to worry about the ERO info and such.

    Yes. If you're transmitting the return you are the ERO. The very first thing you do is go to the Preparer Manager tab at the top and fill in all your information under the Efile tab in that view. Be sure to check the ERO box. And if you haven't filled in the Paid Preparer or Firm information there, now would be a good time. It will save lots of time and potential rejects for missing information.

  7. MA return

    in General Chat

    Posted

    Ok, got an MA return, paper filing because I'm not sure if out of state preparers can efile and there's been so many problems with MA efiles. got a Schedule INC with the W-2 info on it. Do I still have to attach a paper W-2? If so, where? The instructions keep saying not attaching one 'if necessary' is a 'frequent error' but I can't find out 1. when one is necessary, and 2. where to put it.

    I know where I'd like to put it....

    "Schedule INC

    As many Schedule INC per Return Filing as needed. Schedule INC contains select W-2 and 1099 taxpayer and spouse data; there is no requirement that the paper versions of these forms be attached to the taxpayer’s return. It replaces up to 20 forms W-2, W-2G, 1099R, 1099MISC or 1099G; the taxpayer is to retain those forms for 3 years.

    All W-2 and 1099 earnings must be reported on Schedule INC. This schedule MUST be included with the return. Failure to submit Schedule INC WILL delay any applicable refund, as the return will be considered incomplete. Multiple Schedule INC may be submitted as needed."

  10. 1120S - ARKANSAS - E-FILE

    in E-File

    Posted

    Has anyone been able to create an e-file for 1120S (Arkansas), I keep getting an error on the E-File signature page indicatint that "if either the Preparer's Firm Name or EIN es entered, both must be entered or both must be blank. Both are blank -- I have deleted the form and reopenned it and I get the same result.

    Also more than likely the State is a piggiback --- does anyone have any idea when it will be ready to e-file based on prior year's experience.

    Thanks.

    Does Arkansas have efile for business returns? Most states don't unless it's some kind of web-file option.

  11. How to E-File Statements in ATX

    in E-File

    Posted

    I'm new to ATX. I am sure that the answer to this is somewhere in the forum archive, but I can't find it.

    Though I know it's possible from the IRS perspective to e-file statements (e.g., adding further detail they need to know such as that Box 14 Amounts show the ISO exercises at amount $X that are included in Box1 or that there are more lines to the Form X Line Y and here's the detail). I know how to do it in Lacerte and some other software, but not for sure in ATX.

    Does using Forms -> Lists -> Create Statement do the trick to get what's in that statement transmitted with the e-file for the return?

    Best regards and TIA,

    Rick Art

    Go to the EF Info worksheet. Those sort of additions go on the Elec Exp or Reg Exp worksheet.

  16. MA NR help please!

    in General Chat

    Posted

    Client telecommuted from Florida for a MA firm. Employer w/h MA tax on income, and coded the income as MA on W-2. Already went around with MA on the 2006 return, and per MA law, telecommuters are not subject to MA tax, but employer refused to correct W-2 for 2006 and continued error for part of 2007 (then he switched to an NC office, so rest of year not a problem). I am using the Line 13 NR apportionment worksheet to convert W-2 income listed on W-2 as MA income to zero percent MA income. Is this the correct way to do it? The form says not to use the worksheet for W-2 income, but the instructions say that it can be used if the employer does not issue a w-2 showing only MA income, you can use the worksheet to apportion. Of course, in this case the employer did issue a W-2, its just that the MA income is incorrect and we know they will not correct it.

    Also can this form be efiled? And should I attach a statement as to why the W-2 reporting was incorrect?

    It can be efiled but there is no way to attach a stament to the to it.

  17. Planning to switch for 2008

    in General Chat

    Posted

    I switched...the lack of support and inconsistencies were driving me crazy. I'm trying two new software vendors: Intellitax for 1040's Drake for corporate. Yes I'm going through a learning curve...but guess what I actually have helpful support people to talk to! I'm also learning things too...I used to use the Joint box on ATX for husband/wife businesses running a schedule C business together...you know what? That's not the way it's supposed to be done...we're supposed to file 2 Schedule C's...I read the IRS instructions. I thought it was inconvenient when I couldn't do that with Intellitax..then I found out why!

    So though I did love the way ATX navigated and the feel of it...I'm gone unless they can really step up to the plate and PROVE it to me.. It really seems odd when they were selling me the product I got calls returned..now I'm looking for my refund...noone can pick up the phone. I've put my credit card company on to them now.

    Carolyn

    "I read the IRS instructions."

    scary

  19. EFile ?

    in E-File

    Posted

    Thank you both for the replies. I will suggest paper filing for them. The child will probably make a difference on the stimulus rebate.

    Thanks again!!

    Eli

    Ther isn't a choice in this situation. IRS doesn't allow DIED as a substitute for the SSN - another of those pesky efile limitations. And condolences to your clients.

  20. Rebate Calculation Feature

    in General Chat

    Posted

    Is Lacerte guessing at the phase-out "brackets" or rates or whatever when income is over $75,000? Has the IRS released anything like that? All I've seen is that the amount will be adjusted, not how it's going to be calculcated.

    And I know if ATX released that, 1/4 of the customers would like it, 1/4 would never notice, another 1/4 would call customer support to gripe about it printing in the wrong text font and the rest would complain that it's a waste of paper and time would have been better spent on other issues. Put me in the 4th set.

    On the other hand, if I were paying Lacerte prices I would "expect more". Over $2,000 for just the Fed 1040, $395 for EACH state, $1,000 for unlimited efile and $1,200 for each business tax package. Go to Lacerte if they're so wonderful. It's your nickel(s).

    http://www.lacertesoftware.com/products/pricing/index.aspx

  21. 4562 pg 2

    in General Chat

    Posted

    Looks like tech support should be notified. I'ld do it myself but I'm still locked out!

    taxbilly

    The IRS probably approved it that way even though the extra borders aren't on the pdf on their website. And if that's the case, and the IRS doesn't have a problem with it, it's very likely to not be changed until the IRS releases updates. Changes made to the appearance of a form generally have to be resubmitted to the taxing agency for re-approval. Fortunately, it's a cosmetic issue that has nothing to do with functionality and if you efile, the IRS won't ever see those lines anyway. : )

    All that being said, this would still be a good comment to the pipline rather than taking time to talk to tech support. Someone on the other end can investigate.

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