Randall Posted February 6, 2013 Report Share Posted February 6, 2013 Are we just unable to file a return with depreciation? Can we complete the return, have client sign 8879 and then file when given the go ahead? Quote Link to comment Share on other sites More sharing options...
FedupCPA Posted February 6, 2013 Report Share Posted February 6, 2013 That is what I have done. The forms calculate correctly, it's just that they still say Draft on them and the IRS is unable to process returns with 4562 in them until further notice. It was mid to late February, now I've noticed they say late Feb to early March. Quote Link to comment Share on other sites More sharing options...
rfassett Posted February 6, 2013 Report Share Posted February 6, 2013 Me too. I started preparing corps and partnerships (and all of mine have a 4562) a week ago but peeled off them when I realized just how far MY state was in getting their act together on business returns. I listen to a lot of the comments about the software costing us money (or at least - deferred revenue). Had the 4562 and state been "on time" I would have had over 50 corporate returns done by now. The good news as I said, is it is not lost revenue, just deferred. A lot of my 1040's have 4562's also but that is not holding me off from preparing them. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted February 6, 2013 Report Share Posted February 6, 2013 I know the IRS said that stockpiling efile returns was OK this year due to the one week delay of them opening for efile, but I think you are still supposed to file current returns within 3 days of the client signing the efile authorization form. I believe someone commented on the official forum that if the sig date entered in the system is more than 3 days old the program is creating an error message. Also and much more of a longshot is that under your scenario, you enter a date into the system that does not match the date on the 8879 to get around this problem and then the IRS shows up to check your files. That's pretty unlikely, but you would be violating the rules. I'm not even working on returns that have depreciation yet because of all the problems ATX is having with errors in the calculations and program crashs of returns that have the 4562 included in them. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted February 6, 2013 Report Share Posted February 6, 2013 Just to see this myself, I rolled over one of my partnership returns. It has about 140 assets entered. Rollover took less than a minute, opening the file took between 1-2 minutes because one city form is not yet available and the program had to calc the depreciation. I put one entry in gross receipts and proceeded to error check the return. Program stopped working and I got the message box "windows is searching for a solution." Closing that shut it all down. More arrrrrrrgh! Quote Link to comment Share on other sites More sharing options...
Randall Posted February 6, 2013 Author Report Share Posted February 6, 2013 Have you had the problem with the check return causing the program to close? From another thread, I was wondering if the depreciation had something to do with that problem. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted February 6, 2013 Report Share Posted February 6, 2013 The couple of returns I have in so far error checked fine. I believe it is the depreciation causing the crash and that's why I picked that particular return to test this. Quote Link to comment Share on other sites More sharing options...
Maribeth Posted February 6, 2013 Report Share Posted February 6, 2013 I did my personal corporate return today. With depreciation. The 4562 does not populate the depreciation amount but at least the draft is off. We use the Fixed Asset Manager so the assets "rolled over" from FAM. Deprecciation was fine, beginning balances were fine. No problem with the return, no problem with error checking. Of course, cannot efile yet. And I did the return on a workstation. I am going to start on the other corp/partnership returns and put a disclaimer on the client letter that the return will be efiled once the IRS has given me permisison to do so. Going to have the client sign the 8879 with the undersanding that the date will be added once permission to efile is obtained. At this point, the IRS be damned with its signature/date requirement. Maribeth 1 Quote Link to comment Share on other sites More sharing options...
rfassett Posted February 6, 2013 Report Share Posted February 6, 2013 My sentiments exactly! Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted February 6, 2013 Report Share Posted February 6, 2013 I am doing returns that have depreciation, just not telling the client they are done. When I get the go-ahead from ATX/IRS I will call them to come and sign there 8879's. I tell them when I take the return in that returns with depreciation cannot be filed yet. Quote Link to comment Share on other sites More sharing options...
ACS41 Posted February 6, 2013 Report Share Posted February 6, 2013 Spoke to ATX this afternoon. They are aware the 4562 is crashing the program. Will be addressed in 12.7. They do not have a target release date. Am doing the same thing Maribeth is regarding sending out 1120sreturns with form When I get back the 8879S, I put in my file the day I received it and further detail the return was not e-filed same day/next day and why. When the return is actually filed, what date should be put in the tax program? Quote Link to comment Share on other sites More sharing options...
FedupCPA Posted February 6, 2013 Report Share Posted February 6, 2013 I have resorted to jettisoning efiling for 1120S and having the client mail a paper return. Most of my corporations prefer it that way anyway. Quote Link to comment Share on other sites More sharing options...
FedupCPA Posted February 6, 2013 Report Share Posted February 6, 2013 Spoke to ATX this afternoon. They are aware the 4562 is crashing the program. Will be addressed in 12.7. They do not have a target release date. Am doing the same thing Maribeth is regarding sending out 1120sreturns with form When I get back the 8879S, I put in my file the day I received it and further detail the return was not e-filed same day/next day and why. When the return is actually filed, what date should be put in the tax program? You actually got through to them?! Quote Link to comment Share on other sites More sharing options...
rfassett Posted February 6, 2013 Report Share Posted February 6, 2013 Last word I heard on 12.7 is that they are hoping to post it Friday. Quote Link to comment Share on other sites More sharing options...
Maribeth Posted February 6, 2013 Report Share Posted February 6, 2013 Spoke to ATX this afternoon. They are aware the 4562 is crashing the program. Will be addressed in 12.7. They do not have a target release date. Am doing the same thing Maribeth is regarding sending out 1120sreturns with form When I get back the 8879S, I put in my file the day I received it and further detail the return was not e-filed same day/next day and why. When the return is actually filed, what date should be put in the tax program? I had thought that I would use the date that the efiling was allowed. Figured that we would take all the "held" returns in the office, enter the date, create efile and send. That way the "held" returns would all be sent together. Also -- just thought of this -- have the client sign the 8879 but not date it. Then put date on it when permission is granted. Maribeth Quote Link to comment Share on other sites More sharing options...
ACS41 Posted February 7, 2013 Report Share Posted February 7, 2013 On hold for an hour. Had a simple 1120S on my plate to pass the time. Going forward, I'll leave the date blank. Not sure how much that really matters. Clients dated it and send it to me 3 weeks later. I just write on the bottom of the form received on "2/6/13". Asking them to redate the form will not work for my clients. Just happy to get the form if I only have to ask for it less than 3 times! Quote Link to comment Share on other sites More sharing options...
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