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Seminars

In this issue:

  • There's Still Time to Save
  • Why CFS Doesn't Support 941 E-File

There's Still Time to Save
Don't worry if you missed the May 31st deadline for spring renewal discounts. If you renew your CFS software by August 31st, you will still receive:

  • $5 off every program renewed early;
  • 20% off the first-time purchase of additional software or network upgrades; and
  • 15% off forms, envelopes, folders, and checks.

We'll be sending out summer renewal notices next month, but why wait? Renew online today!

Why CFS Doesn't Support 941 E-File
941/940One of the most common requests we receive from customers is for Form 941 e-file capability to be added to our Payroll System software. As we have repeatedly explained in our newsletter, CFS can only support e-filing when it is possible to upload a file directly from our customer's computer to the taxing agency without CFS becoming a service provider. This is not possible with Form 941 or any other employment tax returns in the 94x series.

In order for us to provide e-file support for Form 941 and other employment tax returns, it would be necessary for CFS to become an authorized IRS e-file provider, which means:

  1. Creating an IRS e-services account,
  2. Submitting an application to become an authorized e-file provider, and
  3. Passing a suitability check.

We would then be authorized to e-file tax returns on behalf of our customers, which entails some risk and would possibly require additional staff. This would force us to increase the cost of the software and/or charge a fee for each return filed, as other companies that provide this service do.

We do not feel this is warranted. While the IRS does require electronic funds transfer (EFTPS) for tax deposits of $2,500 or more, there is no requirement to e-file federal employment tax returns, and as long as it costs more to do so than to paper file, there is no incentive to offer this service. As a 2013 report by the Electronic Tax Administration Advisory put it, "The current paper process is quick, easy, and extremely low cost for taxpayers to maintain. Transitioning to e-file requires an extensive enrollment processes with the IRS, requires software considerations, and entails compliance risks. Without providing some benefit for taxpayers to transition to e-file, taxpayers are unlikely to convert..."

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