Partnerships & S Corps - Efiling - Deadlines

Software. Marketing. Training. Running your business.
#1
Posts:
8292
Joined:
4-Mar-2018 9:03pm
Location:
The Office
Curious about how everyone is handling efiling partnership and S Corp returns as 3/15 approaches...

I'm currently telling all clients that although their return may be complete and a draft issued for their examination, we're advising everyone with QBID that we'll be efiling their return in week leading up to 3/15 to ensure the tax software is as up to date as possible. All of them wholeheartedly agree after I set the stage and explain the TCJA changes, final 199A regs being released a week ago, and software companies running at full speed to catch up.

My plan is to open in the software, recalculate, compare to the "draft" pdf, and finally efile each 1065 and 1120 return with QBID during 3/08 - 3/14.

How are you handling it? Filing now? Similar to me? Advising extensions?

If you're advising extensions are you just doing it in a general sense or because you have knowledge that something on the taxpayer's return isn't working correctly?
 

#2
HowardS  
Posts:
2866
Joined:
21-Apr-2014 3:12pm
Location:
Southern Pines, NC
Need to use QBI and QBID in their proper contexts. ;)
Retired, no salvage value.
 

#3
Posts:
8292
Joined:
4-Mar-2018 9:03pm
Location:
The Office
Thank you Howard. Should be QBI above.
 

#4
smtcpa  
Posts:
524
Joined:
28-Jul-2014 5:16am
Location:
Richmond, VA
For 99% of my clients, there really is not much to the K-1 that would want me to delay filing or consider extending. What am I missing?
 

#5
Gjkycpa  
Posts:
239
Joined:
29-Apr-2014 1:53pm
Location:
Corbin, KY
QBI is not simple, however, I think the complexity is being blown way out of proportion. I realize some cases are very complex.
 


Return to Business Operations and Development



Who is online

Users browsing this forum: No registered users and 17 guests