User's Manual - Drake Software

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Drake Software User’s Manual SSN ST Sub-S “T” ack TS TSJ TILA .txt TY UNVER .xls Social Security Number State code; generally a drop list at the top of an applicable screen. S corporation Test transmission Taxpayer (or) Spouse Taxpayer (or) Spouse (or) Joint Truth in Lending Agreement File extension for text files Tax Year Unverified field. Fields flagged as UNVER must be verified before e-file is possible. File extension for Microsoft Excel files D-4 Tax Year 2012
Drake Software User’s Manual Appendix E: State E-filing Mandates State e-filing mandates for tax year 2012, as collected from state tax-authority publications, are provided below. Alabama If an income tax return preparer prepares 50 or more acceptable, original individual income tax returns using tax preparation software in a calendar year, then for each subsequent calendar year thereafter, all acceptable individual income tax returns prepared by that income tax preparer must be filed using electronic technology. Regulation 810-3-27-.09 A taxpayer can elect to opt out of e-filing; you need only to file a signed paper original individual income tax return. That client’s paper return will be included in your total mandate count. If an income tax return preparer prepares 25 or more acceptable, original corporate or partnership income tax returns using tax preparation software in a calendar year, then for that calendar year and for each subsequent calendar year thereafter, all acceptable corporate and partnership income tax returns prepared by that income tax preparer must be filed using electronic technology. There is no opt-out provision for corporations or partnerships. California Connecticut Florida Illinois California law requires tax preparers who prepare more than 100 individual state income tax returns annually and prepare one or more using tax preparation software— including preparers residing or with an office out the state—to e-file all individual income tax returns. A $50-per-return penalty may be assessed for each return filed on paper that should have been e-filed unless the failure to e-file is due to reasonable cause and not willful neglect. Reasonable cause can include a taxpayer’s election not to e-file. No practitioner waivers are available. Connecticut agency regulations Section 12-690-1 require tax preparers who prepared 50 or more CT income tax returns during any calendar year to e-file all CT income tax returns. Preparers may obtain a one-year waiver from the e-filing requirement by establishing that they cannot e-file a return without experiencing an “undue hardship.” Regs. Section 12-690-1 A corporation in Florida must file and pay its income tax electronically if it paid $20,000 or more in tax during the State of Florida’s prior fiscal year (July 1–June 30). File Florida corporate income tax with the Florida Corporate Income/Franchise Tax Return (Form F-1120), and file through the IRS’s 1120 Federal/State Electronic Filing Program using approved software. Effective January 1, 2012, paid preparers who file more than ten (10) IL individual income tax returns must file those returns electronically. The majority of returns, more than 62%, are already e-filed. e-Filed returns are processed more quickly, resulting in fewer errors and faster refunds to taxpayers. Tax Year 2012 E-1
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1 Introduction Thank you for choosi
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2 Installation & Setup Read this se
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3 Basics Logging In and Out To open
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7 Banking For tax year 2012, Drake
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8 e-File This chapter provides an o
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10 Resources and Support Drake Soft
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User's Manual - Drake Software

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