grandmabee Posted March 7, 2012 Report Share Posted March 7, 2012 am I correct in thinking I Don't have to e-file a 1120S or 1065's? And I don't have to include the 8948 waiver. I think its only for 1040's and 1041's thanks Quote Link to comment Share on other sites More sharing options...
Crank Posted March 7, 2012 Report Share Posted March 7, 2012 I posted a similar question in the TRX forum. I thought I had to efile the 1120S and wanted to know if the IRS or myself sends the k-1s to the shareholders. This is my first 1120S. Quote Link to comment Share on other sites More sharing options...
Lion EA Posted March 8, 2012 Report Share Posted March 8, 2012 This year, only Forms 1040 and 1041 must be efiled or use the Form 8948 plus Opt-Out to cover yourself. When I prepare Forms 1120-S, I give the K-1s to the tax matters partner to deliver -- but it's usually a husband/wife company and I usually prepare the personal returns also! Maybe the preparer is supposed to deliver the K-1s to the shareholders; someone will answer that. The IRS does NOT send the K-1s to the shareholders. Quote Link to comment Share on other sites More sharing options...
Randall Posted March 9, 2012 Report Share Posted March 9, 2012 I began efiling 1120s and 1065s last year. I put it off several years because Ky still isn't up on these. But I decided I could still save a little time and paper by efiling the Fed and paper filing the state. Quote Link to comment Share on other sites More sharing options...
Lion EA Posted March 9, 2012 Report Share Posted March 9, 2012 That's what has stalled me too. CT has some bizarre method to submit .pdf files on their web site or something I haven't taken the time to learn yet. Since I can't do both federal and CT through my software, I've paper filed all. Have to figure it out for 1041s now. Quote Link to comment Share on other sites More sharing options...
10SorTAX Posted March 10, 2012 Report Share Posted March 10, 2012 With the federal penalties per shareholder per month for late filing of forms 1120S, I feel better e-filing and getting that acknowledgement. I've had IRS claim they didn't receive paper filed 1120S's that I know were mailed. I'd rather e-file than mail certified. Colorado doesn't accept e-filing of corps or partnerships yet, so they have to be mailed, but they also don't incur penalties for late filing, so I don't mind the risk of mailing those. Quote Link to comment Share on other sites More sharing options...
Randall Posted March 10, 2012 Report Share Posted March 10, 2012 I agree about the comfort level of getting the acknowledgement. Same with the extensions. I put off efiling extensions until a few years ago, I scratched my head and asked myself why am I sending these in paper. I just efiled all my corp extensions. I'll do 1040s the first week of April. Try to contact clients I think might owe something for a payment to send in but at least the extensions will be filed. Quote Link to comment Share on other sites More sharing options...
michaelmars Posted March 10, 2012 Report Share Posted March 10, 2012 gotta be carefull, extensions are supposed to be a good faith effort and -0- extensions are getting thrown out as frivilous. even if the client isn't or can't make a payment, fill out what you think his tax liability is going to be. Quote Link to comment Share on other sites More sharing options...
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