News, Forms & Procedures - June 2, 2014

Prior Year Returns

ExacTax processes all prior year returns from 2002 through 2012. These returns are processed on a daily basis. After you have reviewed the prior year return, call Customer Support to order the proforma for the following year, if needed (applies to years 2005 – 2012).

Note: 2012 returns may still be filed electronically as long as they are not amended returns.


Estimated Tax Vouchers

When preparing extension returns that require estimated tax vouchers, keep in mind that when estimates are requested four vouchers are always prepared by default, regardless of the processing date or decedent status.

If you are processing a 1040 return and only want vouchers 2, 3 and 4, you must enter a code 3 (for the last three vouchers) in zip 52 on Form Est {6A}. For state vouchers, an equivalent entry is required on the state input form, such as California Form CAEst {6A}, zip 21.  

Note: Zip 52 will not work when you use predetermined voucher codes 5 or 9 in zip 32. The vouchers that you enter determine which ones will print. With code 5, all vouchers requested will be reduced by any overpayment applied.

When a code 9 is used, all vouchers requested will not be reduced by any overpayment. Because the overpayment is not applied to reduce the estimate with code 9, to apply an overpayment amount to 2014 enter Overpayment Code 8 in zip 29 and the exact amount to be applied in zip 30.

Amounts Already Paid on Estimates

If one or more estimated tax payments have already been made, enter the amounts already paid in zips 41 through 44 on Form Est {6A}. These payments will reduce the amount due on a computed voucher. However, the amount already paid will be ADDED to any predetermined estimated tax entered in zip 38 through 40 to compute the remaining voucher amounts. For example, Form 6A, zip 32 = 5, $500 is entered in zip 37 and $200 is entered in zip 41 for voucher 1. The estimated tax worksheet will show a total of $700 for voucher 1 with $200 paid and $500 due.

Avoid ELF Direct Debit Pitfalls

When a direct debit payment date is entered after April 15, the return must be accepted not more than 5 days after the payment date in order for the debit to be honored. In addition, the payment date must not be in the future when the return processes. For example: If the payment date is April 30 the return must process at ExacTax on April 30 or after. In addition, the return must be accepted by the IRS no later than May 5 in order for the payment to be valid.

Note: EFW for estimated tax payments is not affected by the EFW date for the balance due on the return.

Amending E-file Returns

When you are reprocessing a return that has previously been e-filed, typically an amended return, please request Form ELF {3A}, zip 5, to be checked to suppress efile. This will help us speed the processing of the return.