BulldogTom Posted January 30, 2008 Report Share Posted January 30, 2008 I thought this was fixed for the interest paid to banks on CC and such without a 1099. Was I mistaken? But I rolled this client over early in the season. I thought we could update form with new form, but I can't find that menu now. Please tell me I don't have to delete and re-enter the schedule C Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted January 31, 2008 Report Share Posted January 31, 2008 I thought this was fixed for the interest paid to banks on CC and such without a 1099. Was I mistaken? But I rolled this client over early in the season. I thought we could update form with new form, but I can't find that menu now. Please tell me I don't have to delete and re-enter the schedule C Tom Lodi, CA Here is the thread I started about this very problem. http://www.atxcommunity.com/index.php?showtopic=973 I received an e-mail from William stating that it was a program error and would be fixed in 24 hours. That was at least 10 days ago. Our fix is to move the interest to line 48. I don't like doing it that way, but.... 99 minutes total with "tech support" Quote Link to comment Share on other sites More sharing options...
Mel in Hawaii Posted January 31, 2008 Report Share Posted January 31, 2008 I wouldn't blame William, he probably has nowhere near the pull with the developers as he did before when he could walk down the hall and stand over them until he got the answer that was in the customer's interest. I would trust William's word before I would trust anyone else, he was just that kind of guy BUT he does have to rely on other people's words too. Quote Link to comment Share on other sites More sharing options...
taxperson Posted January 31, 2008 Report Share Posted January 31, 2008 I wouldn't blame William, he probably has nowhere near the pull with the developers as he did before when he could walk down the hall and stand over them until he got the answer that was in the customer's interest. I would trust William's word before I would trust anyone else, he was just that kind of guy BUT he does have to rely on other people's words too. Mel. You can retire the Chicken Little suit. The sky isn't falling. William and the customer support team have just as much influence as ever. Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted January 31, 2008 Author Report Share Posted January 31, 2008 Could someone remind me how we make sure we have the latest version of a form in the return? I thought they updated automatically, and we process updates every morning, so I should have the newest version in this return. In the past, there was a menu item that allowed you to replace the current form with the latest form. I think that went away? Did it? If that is the case, then I should assume that the form is still not working properly and the interest needs to go to line 48? Thanks for your help Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted January 31, 2008 Report Share Posted January 31, 2008 Could someone remind me how we make sure we have the latest version of a form in the return? I thought they updated automatically, and we process updates every morning, so I should have the newest version in this return. In the past, there was a menu item that allowed you to replace the current form with the latest form. I think that went away? Did it? If that is the case, then I should assume that the form is still not working properly and the interest needs to go to line 48? Thanks for your help Tom Lodi, CA I think you can check to see which version of the form that you have just by right clicking on the page. I have not tried that this year, but that is what I did last year. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted January 31, 2008 Report Share Posted January 31, 2008 Could someone remind me how we make sure we have the latest version of a form in the return? I thought they updated automatically, and we process updates every morning, so I should have the newest version in this return. In the past, there was a menu item that allowed you to replace the current form with the latest form. I think that went away? Did it? If that is the case, then I should assume that the form is still not working properly and the interest needs to go to line 48? Thanks for your help Tom Lodi, CA That is the case. You are correct. As of 11:20AM EST today. Quote Link to comment Share on other sites More sharing options...
taxperson Posted February 1, 2008 Report Share Posted February 1, 2008 http://www.irs.gov/pub/irs-utl/part_2_high...oc__sec_1-3.pdf Go to pg 87 0337 Mortgage Interest 16a 0340 Form 1098 Name/Address 16b The only entry on line 16b that can be sent is the the name and address of some other person receiving a 1098. http://www.irs.gov/pub/irs-pdf/i1040sc.pdf See pg 5. You should be able to include other interest amounts on Line 16b and if you put the return in an envelope, there's no problem. It just can't be E-Filed. Period. Whoever told William it was a program issue needs a good, swift . . . nevermind. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted February 1, 2008 Report Share Posted February 1, 2008 http://www.irs.gov/pub/irs-utl/part_2_high...oc__sec_1-3.pdf Go to pg 87 0337 Mortgage Interest 16a 0340 Form 1098 Name/Address 16b The only entry on line 16b that can be sent is the the name and address of some other person receiving a 1098. http://www.irs.gov/pub/irs-pdf/i1040sc.pdf See pg 5. You should be able to include other interest amounts on Line 16b and if you put the return in an envelope, there's no problem. It just can't be E-Filed. Period. Whoever told William it was a program issue needs a good, swift . . . nevermind. Where would you enter interest paid on a business loan that was not a mortgage? What about interest paid on a business credit card? I cannot find the information that says this is a change from 2006. We had hundreds of business returns with interest on line 16b in the past, and no issue with e-file. This IS a program issue. If not, please direct me to the information from the IRS that says you must include an address for every entity you pay interest to, or it cannot be e-filed?? You left out the next entry on the layout form... @0333 Form 1098 16a Explanation 0337 Mortgage Interest 16a @0340 Form 1098 Name/Address 16b 0343 Other Interest 16b Which shows another entry possible for line 16b. Quote Link to comment Share on other sites More sharing options...
taxperson Posted February 1, 2008 Report Share Posted February 1, 2008 If an amount is emtered on the line, the statement has to be transmitted. This situation isn't unique to the Schedue C. The IRS has that same logic in a lot of forms. 1116 @0940 Carryback/Carryover Explanation 10 6 "STMbnn" or blank 0950 Carryback/Carryover 10 12 N Amount 2555 @0830 Partnership's name, address and type of income 20b 6 "STMbnn" or blank 0840 Share of Income - 20b 12 N Partnership Schedule F @0775 Commodity Credit 6 "STMbnn" or blank Loans Explain 0780 Commodity Credit 41a 12 N Loans Amount And that error check was in place last tax seaon. So, how did you transmit those? Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted February 1, 2008 Author Report Share Posted February 1, 2008 Well, correct me if I am wrong, but the software has always accepted line 16b for other interest without a 1099 and e-filed it for the 5 years I have used ATX. I have put Credit Card interest on that line for the 10 years that I have owned my business. I have been e-filing for 8 years. I used Proseries before ATX. I have never had a reject for missing 1099 info on a line 16b entry....until this year. What changed? What is new this year? If this was always the case, why this year the rejects and not before? Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted February 1, 2008 Report Share Posted February 1, 2008 Same here, I have several schedule C's that include other interest. I've never had a problem transmsitting. But why can't you just move the interest to the other expense sheet, list it as credit card or business loan interest and deduct it there? Deb! Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted February 1, 2008 Author Report Share Posted February 1, 2008 <<But why can't you just move the interest to the other expense sheet, list it as credit card or business loan interest and deduct it there?>> I can and did. But if there is a line that says "other interest", and I have other interest, I would assume that I should put other interest on that line. Moving it is not a big deal, but it would be helpful to know what changed. Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted February 1, 2008 Report Share Posted February 1, 2008 Well, correct me if I am wrong, but the software has always accepted line 16b for other interest without a 1099 and e-filed it for the 5 years I have used ATX. I have put Credit Card interest on that line for the 10 years that I have owned my business. I have been e-filing for 8 years. I used Proseries before ATX. I have never had a reject for missing 1099 info on a line 16b entry....until this year. What changed? What is new this year? If this was always the case, why this year the rejects and not before? Tom Lodi, CA Tom, your experience is exactly like ours. We (at the firm I work at) e-filed over 1,500 business returns with "other interest" on line 16b last year. The question I posted to William when I first experienced this problem was: "It is certainly good to hear for a knowledgeable technician. I have a further question. Is this a new requirement of the IRS, or a programming issue? I have not been able to find any tax regs that support having to put an address for "other interest" on line 16b, in order to e-file." His e-mail response to me 5 minutes later... ----- Original Message ----- From: [email protected] To: XXXXXXX Sent: 01/17/2008 4:31 PMSubject: Re: Schedule C and creating the Casey e-file It's a programming issue. I have reported it and we should have a fix within 24 hours. William Tasker CS Manager, ATX CCH, a Wolters Kluwer business William is the most experienced an knowledgeable person at ATX/CCH when it comes to this program. I take his word for this one, since I cannot find any IRS regs to support the need to paper file if we do not include addresses for the recipients of "other income." Quote Link to comment Share on other sites More sharing options...
mdmcfarland Posted February 1, 2008 Report Share Posted February 1, 2008 Did he say WHICH 24 hours? Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 2, 2008 Report Share Posted February 2, 2008 Well, I just heard today that William is getting the boot too. Makes me furious. They are keeping him on payroll through the season, so he could go down to Rome GA and try to deal with all the problems we are having. Then he is gone. CCH has to be the dumbest company I ever dealt with, to not recognize the value of an employee like William. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted February 2, 2008 Report Share Posted February 2, 2008 Well, I just heard today that William is getting the boot too. Makes me furious. They are keeping him on payroll through the season, so he could go down to Rome GA and try to deal with all the problems we are having. Then he is gone. CCH has to be the dumbest company I ever dealt with, to not recognize the value of an employee like William. This just sealed my decision about next tax year. This also includes the firm I work for too. Both of us are 5 year users of ATX. Any company that does not retain the person with the most knowledge and experience about a program, is DEFINITELY NOT planning to keep that software around. CCH must think we have the Pied Piper mouse syndrome... I am insulted... :angry: Quote Link to comment Share on other sites More sharing options...
taxxcpa Posted February 2, 2008 Report Share Posted February 2, 2008 This just sealed my decision about next tax year. This also includes the firm I work for too. Both of us are 5 year users of ATX. Any company that does not retain the person with the most knowledge and experience about a program, is DEFINITELY NOT planning to keep that software around. CCH must think we have the Pied Piper mouse syndrome... I am insulted... If they don't have William, there is no one who can replace his knowledge and experience. So this means they just don't care about anything except cutting costs regardless of the ill-effects. Quote Link to comment Share on other sites More sharing options...
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