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Live PayrollIn this issue:

  • Truncating Social Security Numbers on Paper Payee Statements
  • W2/1099 Due Dates
  • 2010 Software Releases
  • Release Dates for Schedule D and Financial Planning Tools

Truncating Social Security Numbers on Paper Payee Statements
In December of last year, the IRS announced a pilot program allowing filers of information returns to truncate an individual payee's nine-digit identifying number on paper payee statements for filers meeting certain requirements. The program is designed to minimize the risk of identity theft (Notice 2009-93).

We have added a checkbox to CFS Payroll System allowing the user to elect to print 1098/1099 payee statements with a masked SSN showing only the last four digits (e.g. XXX-XX-1234).
Note: This feature is only for the paper payee statement provided to the recipient. It is not for the copies provided to the government by the payer, nor is it for electronically transmitted files.

W2/1099 Due Dates
Because February 28th falls on a Sunday this year, W-2 and 1099 copy A's are due on March 1st. If you e-file, you have until March 31st to file.

Note: The closer it gets to the March 31st deadline, the busier our tech support will be. If you will be needing assistance with our W2/1099 E-file add-on, please consider calling early in the month. You will also find tutorials on our Instructional Videos page to help with this task.

2010 Software Releases
Most 2010 CFS programs have now been released. (For two exceptions, see Release Dates for Schedule D and Financial Planning Tools, below.) If you purchased CD service, you should have received a CD containing initial releases of the 2010 programs. If not, you can download them from our web site as follows:

  1. Go to our Download page, here. You will either need to log in to your MyCFS account or supply your Customer ID and zip code.
  2. Click on the "Download" link for the program you wish to download, and save the program file to your computer's hard drive, being sure to note the filename and location.
  3. When the download is complete, run the downloaded file, either by double-clicking on the file or by using the Windows START|RUN menu option.
  4. The setup program will launch automatically to guide you through the software installation process. During the installation, you will be asked for a PRODUCT LICENSE CODE. (If you don't know your license code, you can retrieve it here.)

Procrastinators, take note...
This is our busiest time of year, and the busier we are, the longer it takes to process your order—which is why we encourage our customers to renew their software early. We want to make sure you get your software on time. If you haven't renewed your 2010 software yet, you may receive a reminder phone call from us. Click here to renew online now!

Release Dates for Schedule D and Financial Planning Tools
Custom FoldersSchedule D Tools and Financial Planning Tools sometimes cause confusion with customers because, unlike most of our other programs, they are not released at the beginning of the calendar year. Schedule D Tools is generally released the first week of May, while Financial Planning Tools is released in mid-March. Also, both of these programs are licensed for one year and will expire unless they are renewed. It is important to keep these facts in mind when ordering, so that you order the version of the program that you need.

Remember...

  • Schedule D Tools 2010 will be released in May 2010. It will allow you to enter transactions through June 30th of 2011 and generate reports for 2010 and previous tax years. A Realized Gains Report can be printed for the first six months of 2011.
  • Financial Planning Tools 2010 will be released in March 2010. Unless renewed, the program will cease to function after May 31, 2011.

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