Friday, February 8, 2013

IRS Important Update


e-File Begins for Forms 4562 and 8863
Effective Sunday, February 10, 2013, the IRS will begin processing TY 2012 returns with Form 4562, Depreciation and Amortization. This includes all return types - 1040, 990, 1120, 1120S and 1065.

On Thursday, February 14, 2013, the IRS plans to begin processing TY 2012 returns with Form 8863, Education Credits.
Software updates were just released for the Form 8863 and Form 4562 for the 1040 series returns. Once downloaded, recalculate the returns to clear EF Messages. You may begin transmitting these returns to Drake as soon as you have installed the appropriate updates. We will hold them until the IRS is ready to process them.
Software Updates for Form 4562 for the business packages will be released on Saturday morning.

The remainder of the delayed forms are still on hold for the time being, with a projected start date of early March. Click here to view the full list of delayed forms.

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