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SeminarsIn this issue:

  • Advise Clients to Apply for Health Care Exemptions Now
  • Direct Deposit Is Here!
  • Install W2/1099 Now
  • E-filing W2s/1099s for the First Time?
  • PTIN Renewal Reminder
  • Don't Forget to Inspect Your Order

Advise Clients to Apply for Health Care Exemptions Now
The Affordable Care Act mandates that individuals without health insurance pay a fee, or "shared responsibility payment," with their federal taxes. However, there are exemptions, including the fourteen hardship exemptions listed here. Hardship exemptions must be approved by the Health Insurance Marketplace: the taxpayer submits an application; if approved, he or she receives an "exemption certificate number" (ECN). The ECN must be included on the taxpayer's return to receive the exemption.

The application process takes at least two weeks, and the closer we get to April 15th, the longer it will take. Avoid complications during tax season by urging your clients who qualify for an exemption to apply now. The application form can be found here.

Direct Deposit Is Here!
LivePayrollBack in July, we announced that we had begun testing a Direct Deposit feature for our LivePayroll program. We are pleased to announce that the feature has completed testing and was recently released with the latest Payroll System update.

Direct Deposit will not add to the initial cost of LivePayroll. However, it will require setting up an account with National Payment Corporation (NatPay), "the leading company to offer third-party processing of Direct Deposit for employee payroll." NatPay charges a one-time setup fee, plus a modest fee for each transaction.

The forms required for setting up a NatPay account are included in LivePayroll. We have posted Instructional Videos on our website to walk you through the setup procedure and processing direct deposits. Instructions can also be found in the LivePayroll Help file.

Install W2/1099 Now
January is a busy month for our customers. It is also a busy month for everyone here at CFS, including our technical support department. For that reason, if you have purchased the 2014 version of W2/1099 Payroll System and have not yet downloaded the program, we urge you to do so now, so that we can help you resolve any issues you may have before tax season begins. Make sure the program is installed on the computer you will be using in January, and print a few test forms using the printer you will be using then.

If you have previously purchased and installed the 2014 version of LivePayroll or 941/940, you do not need to install W2/1099. Just make sure you have installed the latest Payroll System update by selecting "Update from the Web" from the "Internet Options" menu, and make sure you are using the current license code by checking it against your MyCFS account.

If you ordered W2/1099 on CD, you have probably received it. It may be sitting on your desk, buried under a stack of mail. If you renewed before May 31st, it will be in the same package as your free forms starter kit. If you didn't order the program on CD (or can't find it under that stack of mail), it's easy to download it from our web site.

For tips on using the program, including detailed instructions on how to obtain and update your license code, see the Year-end Forms Filing Tips for W-2s and 1099s video on our Instructional Videos page. If you plan on using the E-file Add-on, there are also Instructional Videos explaining the e-file process for W2s and 1099s.

Note: If you will be e-filing information returns for the first time, see the following article.

E-filing W2s/1099s for the First Time?
W2/1099 E-file Add-onIf you are going to be using W2/1099 Payroll System and the W2/1099 E-file Add-on to e-file W2s and/or 1099s for the first time, there are several requirements you need to be aware of:

Before e-filing Forms W-2 via Social Security's Business Services Online, you must have:

  • an EIN (file Form SS-4) and
  • a User ID (call SSA at 1-800-772-6270)

Before e-filing Forms 1099 via the IRS FIRE System, you must have:

  • an EIN (file Form SS-4) and
  • a TCC number (file Form 4419)

Note: You must apply for a TCC number at least 45 days before you plan to file. Passwords for both Social Security and IRS web sites must be changed at least every 90 days to keep them from expiring.

Forms SS-4 and 4419 are included in Payroll System, as are links to the Social Security and IRS web sites. See the Payroll System Help file and Instructional Videos for more information.

PTIN Renewal Reminder
Every year about this time, the IRS reminds tax return preparers that all Preparer Tax Identification Numbers (PTINs) expire on December 31st, and that they should renew theirs "as soon as possible to avoid a last minute rush." You can renew your PTIN online at www.irs.gov/ptin. For more information, see IR-2014-100.

Don't Forget to Inspect Your Order
When you receive an order of tax forms or supplies from us, please make sure that you inspect it immediately. Verify that we sent the correct items, and that there is nothing you forgot to order. Keep in mind that items may be damaged in transit.

Damages or discrepancies must be reported within 14 days of receiving your order. Our supplies return policy covers you for 30 days, but tax forms cannot be returned for refund after December 15th.

CFS Customer Service

2-for-1 Specials
TaxTools '14 & '15 . . . . . . . . . . $199
CA 571 Preparer '14 & '15. . . . . . . $ 99
W4 Calculator '14 & '15. . . . . . . . $ 89
Tax Corresponder '14 & '15 . . . . . . $ 49

Please contact us if you would like to discontinue this free monthly service.

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