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    Month: February 2017

    Enhanced Driver License & E-File

    New York State requires that the driver license number, issue date, expiration date and document number be included in e-file transmissions.  It can be difficult to locate the document number for clients who have an enhanced driver license.  The New York State Department of Motor Vehicles website indicates that, for clients with enhanced driver licenses, the document number is the 10-digit numb...

    W-2 Verification Codes

    The IRS recently issued a reminder that W-2 verification codes are optional.  While the IRS estimates that the 16 character code (in this format: XXXX-XXXX-XXXX-XXXX) will appear on approximately 50 million Forms W2 for the 2016 tax year, the IRS has indicated that practitioners are not required to enter the verification codes when e-filing returns.

    Federal Extension for Form 1041

    The instructions for the 2016 version of Form 7004 have been released, and they provide an automatic 5½ month extension for both trusts and estates of decedents filing Form 1041.  In prior years, the available extension period was only 5 months. This represents an administrative grace extended by the IRS, since the Surface Transportation and Veterans Health Care Choice Improvement Act of 201...

    Earlier Due Date for NYC-204

    The due date for the 2016 Form NYC-204, Unincorporated Business Tax Return for Partnerships (Including Limited Liability Companies), is the 15th day of the third month, which is March 15, 2017 for calendar year entities.  This is one month earlier than it was in prior years, and it matches the due date for federal and New York State partnership tax returns. However, estimated tax payments fo...

    Changes For Business e-File

    Practitioners need to be ready to answer questions designed to authenticate the e-file for entity tax returns (such as Forms 1120S and 1065). Beginning with returns for the 2016 tax year, practitioners must now enter the Social Security number of the officer who signs the e-file authorization form.  Practitioners must also enter information about the entity’s total income from the entity’...