Tax e-form™ FAQs
What forms can be prepared using Tax e-form™?
All the most popular forms and schedules. Besides the 2020 Federal Form 1040, Tax e-form™ provides the necessary information to prepare your Schedule A (Itemized Deductions), Schedule B (Interest and Dividends), Schedule EIC (Earned Income Credit), Form 2441 (Child Care Credit), Form 6251 (Alternative Minimum Tax), Form 8812 (Additional Child Tax Credit), and Form 8880 (Retirement Savings Credit). Over 80% of all personal income tax returns can be filed using these forms. In addition, we’ll calculate your tax on Capital Gains Distributions and Qualified Dividends, figure your taxable Pension and Social Security Benefits, your Student Loan Interest Deduction, your tax on Early Retirement Distributions, and even perform a Married Joint vs. Separate comparison!
What about more complex forms?
Tax e-form™ users can now have more complex returns prepared by submitting one or more of our Worksheets which have been carefully designed to assist us in preparing more complex returns. In addition to the Tax e-form™ base fee of $175.00, extra fees are charged for preparing the Federal forms and schedules generated by the Worksheets — $25.00 to $50.00 (depending on complexity) for each extra Federal schedule prepared. For example, our Rental Income & Expenses Worksheet could generate a Federal Schedule E ($40.00) and three Form 4562s each at $20.00, resulting in $100.00 additional fees on top of the Tax e-form™ base fee of $175.00. If you would like 1040Plus to professionally prepare your complex return, download one or more of our Worksheets here:
Self-Employment Income & Expenses Worksheet – fillable!
Rental Income & Expenses Worksheet – fillable!
Education/Tuition Deductions & Credits Worksheet
Capital Gain Sale of Assets Worksheet
Affordable Care Act Monthly Premiums Paid
Non-Cash Charitable Contributions (over $500) Worksheet
Which States can Tax e-form™ prepare?
All States that have an income tax. We can also prepare Non-Resident and Part-Year Resident State returns if required, though extra charges will apply for us to prepare more than one State.
Do I have to file electronically?
Yes, beginning with Tax Year 2010 each return that we professionally prepare must be filed electronically per IRS. Not only will you get your refund back quicker, but you’ll also have the peace of mind knowing that your Federal and State tax returns were filed and accepted. Even if you owe money, it’s nice to know your tax information has been accepted by the taxing authorities.
What's the purpose of the Electronic Filing Instructions?
Convenience. Tax e-formSM users can authorize the filing of their taxes any time after receiving their tax forms, either by phone, by email, or by video chat. The Electronic Filing Instructions are optional – leave the section blank, or choose not to activate your instructions when you call in if you do not wish to file electronically or if you would rather authorize the electronic filing of your taxes using the IRS Form 8879 signature authorization.
When is the fee debited from my bank account?
Should you choose this payment option, you can expect your account to be debited the $175.00 fee two or three days after we process your Tax e-form™
When can I expect my refund(s)?
Tax Year 2012 was the first year that IRS did not deposit refunds according to a weekly Refund Cycle, instead advising taxpayers to check the “Where’s My Refund?” link at www.irs.gov for an individualized refund deposit date. Tax Year 2019 refunds for simpler returns were generally faster than in the early years of efile, often arriving in 5 to 7 business days. More complex returns tended to adhere to the old standard of 8 to 15 days after acceptance.
IRS support staff will not discuss the status of a refund unless it has gone beyond their 21-day published objective.
“Where’s My Refund?” includes a tracker that displays your tax return’s progress through three stages:
1. Return Received 2. Refund Approved 3. Refund Sent
Return progress can be updated by IRS on a daily basis instead of weekly as in previous years, and the Refund Sent date will be actual instead of estimated.
Overall acceptance-to-deposit timeframe is expected to be similar to last year for tax returns that are not pulled for review.
If you do not want to have your refund direct-deposited you can receive your refund check by mail, but last year these took a week longer to receive.
Is my refund guaranteed to be on time?
Our experience has been that about 95% of all refunds are deposited within the expected timeframe. We’ve seen 5% or so held back by IRS for what they call a “compliance review” and deposited one week later. Other reasons for delay of refund are as follows:
– Taxpayer owes delinquent Federal or State taxes, either individual or business
– Taxpayer owes delinquent child support
– Taxpayer has certain other delinquent debt with Federal or State agencies, such as student loans, military, etc.
– Primary taxpayer’s name and/or SSN has changed since filing last year’s return or taxpayer did not file a return last year (possible one week delay)
– Taxpayer has claimed a blatantly unallowable deduction
– Social Security Name/Number for taxpayer, spouse, or dependent does not match information provided by the Social Security Administration
– Return has been selected by IRS for Earned Income Credit review
I'd like to try the FormCloud version of your Tax e-form. Will it allow me to save my data and return at a later time to finish up and submit?
Although the app is capable of that feature, we decided, for security reasons, to disable it. Imagine walking away from your PC and someone else launches your browser and returns to your FormCloud Tax e-form.
So if you are going to load the FormCloud version of our Tax e-form be prepared to complete it, attach your documents, and submit them all in the same session.
Anything else new with the Tax e-form™ service?
Besides the ever-changing tax laws, we’ve added an option for you to confer with your tax preparer by video chat. When we email your completed tax forms to you, in addition to our phone/fax/email contact info, the email will contain a link for you to a) initiate an impromptu (on-demand) video chat with us, or b) schedule a video chat appointment with us. Because all of our Tax e-form clients are remote, and thanks to the technology becoming more prevalent, we thought it would be nice option to get to know each other better. We look forward to “seeing” you!