Section 83(b) Election

[joelgilb]

I have a client that made an 83( b ) election last May. Now I need to attach it to his 2007 1040 return. I am wondering if this can be e-filed and if so, how to do it with ATX.

Also, that brings me to an another question. When we create custom spreadsheets, statements, itemized lits and lists with ATX, which if any are e-filed with the return to IRS? Does anyone know?

I tend to create spreadsheets in ATX for workpapers and also have created a custom "Point Sheet" to help me keep track of missing items and questions and to use a a place mark when I stop a return in the middle etc. Rather IRS not get these.

Joel

[joelgilb]

Tried ATX efile help again and no luck. They haven't got a clue and actually gave me the wrong advice. Told me I could use the blank elections or attach a statement.

BUT, I just got an answer to my question from IRS Efile help desk. They indicated that the return can be e-filed, but not the 83( election. After efiling the return the 83( election must be mailed in. The suggestion was to attach a copy of the 1040 page 1 & 2 (I'll probably attach the whole return) and indicate that the return was already e-filed.

Joel

[michaelmars]

if you are going to do that, why bother efiling? not critizing just asking [i am not a fan of efiling and want to know your thought process] Whenever i get a problem return i just paper file it and move on. i never struggle to efile a return

[joelgilb]

if you are going to do that, why bother efiling? not critizing just asking [i am not a fan of efiling and want to know your thought process] Whenever i get a problem return i just paper file it and move on. i never struggle to efile a return

Lets see:

1. There seem to be a lot less problems with returns that are efiled.

2. Clients getting refunds get their refunds substantially faster

3. Most of my clients that owe money, like the convenience of it be taken directly from their bank account

4. I do find that creating an efile has helped me catch errors in the return. Now I know I can still do this and file the paper return instead.

5. IRS has sold E-file well and ALL my clients want to E-file. Those that I have had to file by paper tend to grumble and waste my time.

6 E-file encourages drop offs and often gives me more time to turn the return around. For instance, when a client drops the return off on Thursday, I can let them know that it will not get processed until next Wednesday. This gives me a week rather than the 1 houor to 3 day turn around they expect or want ans see others getting.

7. It encourages drop offs. Now I have very few clients making appointments. I know I am essentially repeating item 6 above. Guess this one is important to me.

8. I encourages the clients to think electronically in other facets of my practice. Email, fax etc.

9. It is letting me move from Chicago to Las Vegas and keep virtually all my clients (at least the ones I want to keep)

10. A dropped off return can be prepared in substantially less time than one with an appointment. Sometimes as much as 75% + less time. I can prepare more returns in the same number of hours and thus I make more money.

Shall I go on?

Oh and a final thought. In answering my own question I did not say I was going to end up efiling this return. I just indicated how it needed to be done if one wanted to, so that anyone else with this question has an answer. This was a question that was also just asked on the ATX board that CCH so "THOUGHTFULLY" brought back (sarcasm intended). This one will probably get mailed.

Joel

[michaelmars]

not disagreeing with anything you said but i have seen some posters here post over 3 days issues getting 1 return accepted where i would have just paper filed after 1 0r 2 attempts to efile it. i can't understand the rationale of spending such time chasing down eins, zipcodes, names, etc. if you have the info great if not, just paper file it or am i the crazy one

[Booger]

MM, I agree with you. If you have EVERYTHING, e-file is the way to go.

But to waste 2-3 days trying to get 1 accepted, when you could be getting

quite a few more done (MORE $$$$$), is stupid.

Booger

[joelgilb]

if you are going to do that, why bother efiling? not critizing just asking [i am not a fan of efiling and want to know your thought process] Whenever i get a problem return i just paper file it and move on. i never struggle to efile a return

Look at the Post I started on "Why Efile". A few more good reasons.

Also, those posts you see are few and far between. I have started efiling the year after the program started. In the early years I saw many of the problems in my own practice that you see in these posts. It is as much an education for preparers as it is for taxpayers. And I am much more productive with efile than paper returns.

I have, even recently helped a friend add efiling to hisr practice and seen even this reluctant preparer realize he should have done this a long time ago. Even with the growing pain he had the first year (last year was his first ever efile)

Still there is a time and place for a paper return. Or should I say one paper return, ONE apparently this year and ONE last year!

as Stan Lee said "Nuff Said"

Joel