Simple EFTPS entry question

[jklcpa]

Corporate client with fiscal year end of 3/31 will be filing a short year final return for the period 4/1/16 - 12/31/16.

Normally when paying via EFTPS for a fiscal year, it says to enter the calendar year in which the fiscal year ends. 

What do I enter to make a payment for this company's short period? Do I still enter 2017 as if they would be filing for a full fiscal year even though it will end on 12/31/16, and that will put the payment into the company's proper year?

I'm talking myself through this. I guess that is the proper entry since if I indicate 2016 it would incorrectly credit the payment back to the FYE 3/31/16, which we don't want.

[ILLMAS]

You can always apply it to 2016 or 2017, a simple (1 hour waiting time) call to the IRS will resolve the issue. 

[jklcpa]

27 minutes ago, ILLMAS said:

You can always apply it to 2016 or 2017, a simple (1 hour waiting time) call to the IRS will resolve the issue. 

 

Gah, I know!  I called EFTPS and got through quickly but the rep decided it was better to connect me to business services. After selecting the (most) appropriate menu item I got a recorded message that said that live help in that service area is no longer available...and then it hung up on me. 

[Terry D EA]

Judy, I am a bit confused by your original statement and what the exact short period you are filing for. Is this short period from Jan 1 thru 31, 2017?? If, so then I agree with the 2017 date you mention. One thing I know for sure, nothing is as simple as it should be with the IRS. I adamantly stay on top of my payroll clients to make absolutely sure then are paying the correct amount for the correct period. Had a client that over paid his payroll tax. He brought me on board to help. A simple entry on form 941C to show what period the over payment would be applied to took an unwelcomed visit by an IRS rep, office audit, and tax payer advocate over a period of three years to get straight. Nevertheless, I understand your concern for the proper filing date.

[jklcpa]

On 12/23/2016 at 1:48 PM, jklcpa said:

Corporate client with fiscal year end of 3/31 will be filing a short year final return for the period 4/1/16 - 12/31/16.

 

[Terry D EA]

Okay I see what you are saying. I read this a couple of times but you know the old brain blockage. I still think you are on the right track with 2017 entry for the short period. Sorry for the misunderstanding.

[jklcpa]

4 minutes ago, Terry D said:

Okay I see what you are saying. I read this a couple of times but you know the old brain blockage. I still think you are on the right track with 2017 entry for the short period. Sorry for the misunderstanding.

No problem and thanks for the reply. I put the payment in as 2017 thinking that even though this is a short year ending in 2016, that the 2017 entry in EFTPS is what is required to get the payment posted by IRS into the proper period.

[Catherine]

7 hours ago, Terry D said:

Had a client that over paid his payroll tax. He brought me on board to help. A simple entry on form 941C

Over the years, and for various reasons, I have had to send in several 941X's.  To date, NOT ONE OF THEM has EVER been processed and acted upon.  In each and every instance, the IRS eventually got ants in their pants over something else, tried to throw a hissy fit over something related to the 941-series, and ONLY after a Revenue Officer gets involved is anything ever settled.  To a one, each and every RO to date has said that they do NOT know why the 941X's don't get processed, and that my clients' experiences are NOT rare.

[Terry D EA]

I guess the aggravation, sometimes incorrect assessment of penalties and other frustration is not important even when the TP is doing the right think or trying to correct an honest mistake. Totally inexcusable on the part of the IRS to not address any filed form. 

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