Reminder: EFC and IRS E-filing Shutdown for TY 2020-2022 - Business Returns

Please take note of this important information about electronic filing.

IRS has announced its MeF (e-file) shutdown and cutover for Tax Year 2022. To ensure that all business tax returns e-filed through the MeF system are processed in a timely manner, submissions must occur before IRS shuts down the system on Tuesday, December 26, 2023, at 11:59 a.m. Eastern time.

Electronic Filing Center (EFC) Maintenance/Shutdown

To prepare for the upcoming season and to ensure that all business returns for tax year 2022 are processed timely, Wolters Kluwer will shut down the Electronic Filing Center (EFC) on Thursday, December 21, 2023, at 10:00 PM EST (in advance of the IRS Business E-filing Shutdown) for the following returns:

• Partnership (1065)
• Corporation (1120)
• S Corporation (1120S)
• Fiduciary (1041)
• Employee Benefit Plans (5500)
• Exempt Organization (990 Series)
• 94X Series
• All other return types not listed including state, local, and school district returns

This maintenance will end no later than the date that the IRS opens for tax year 2023, which is yet to be announced. During this maintenance period, you will NOT be able to:

• Transmit returns
• Receive acknowledgements (acks)

Final Day for Electronic Filing of 2020 Returns

Thursday, December 21, 2023, is the final day that tax year 2020 returns can be electronically filed. Any acknowledgements must be retrieved by the user no later than December 26, 2023 at 11:59 PM EST for TY20 e-files. EFC for TY20 will not be available after December 26,2023 at 11:59 PM EST to pick up these acks.

Reminder: EFC and IRS E-filing Shutdown for TY 2020-2022 - Business Returns

Please take note of this important information about electronic filing.

IRS has announced its MeF (e-file) shutdown and cutover for Tax Year 2022. To ensure that all business tax returns e-filed through the MeF system are processed in a timely manner, submissions must occur before IRS shuts down the system on Tuesday, December 26, 2023, at 11:59 a.m. Eastern time.

Electronic Filing Center (EFC) Maintenance/Shutdown

To prepare for the upcoming season and to ensure that all business returns for tax year 2022 are processed timely, Wolters Kluwer will shut down the Electronic Filing Center (EFC) on Thursday, December 21, 2023, at 10:00 PM EST (in advance of the IRS Business E-filing Shutdown) for the following returns:

• Partnership (1065)
• Corporation (1120)
• S Corporation (1120S)
• Fiduciary (1041)
• Employee Benefit Plans (5500)
• Exempt Organization (990 Series)
• 94X Series
• All other return types not listed including state, local, and school district returns

This maintenance will end no later than the date that the IRS opens for tax year 2023, which is yet to be announced. During this maintenance period, you will NOT be able to:

• Transmit returns
• Receive acknowledgements (acks)

Final Day for Electronic Filing of 2020 Returns

Thursday, December 21, 2023, is the final day that tax year 2020 returns can be electronically filed. Any acknowledgements must be retrieved by the user no later than December 26, 2023 at 11:59 PM EST for TY20 e-files. EFC for TY20 will not be available after December 26,2023 at 11:59 PM EST to pick up these acks.

EFC and IRS E-filing Shutdown for TY 2020-2022 - Business Returns

Please take note of this important information about electronic filing.

IRS has announced its MeF (e-file) shutdown and cutover for Tax Year 2022. To ensure that all business tax returns e-filed through the MeF system are processed in a timely manner, submissions must occur before IRS shuts down the system on Tuesday, December 26, 2023, at 11:59 a.m. Eastern time.

Electronic Filing Center (EFC) Maintenance/Shutdown

To prepare for the upcoming season and to ensure that all business returns for tax year 2022 are processed timely, Wolters Kluwer will shut down the Electronic Filing Center (EFC) on Thursday, December 21, 2023, at 10:00 PM EST (in advance of the IRS Business E-filing Shutdown) for the following returns:

• Partnership (1065)
• Corporation (1120)
• S Corporation (1120S)
• Fiduciary (1041)
• Employee Benefit Plans (5500)
• Exempt Organization (990 Series)
• 94X Series
• All other return types not listed including state, local, and school district returns

This maintenance will end no later than the date that the IRS opens for tax year 2023, which is yet to be announced. During this maintenance period, you will NOT be able to:

• Transmit returns
• Receive acknowledgements (acks)

Final Day for Electronic Filing of 2020 Returns

Thursday, December 21, 2023, is the final day that tax year 2020 returns can be electronically filed. Any acknowledgements must be retrieved by the user no later than December 26, 2023 at 11:59 PM EST for TY20 e-files. EFC for TY20 will not be available after December 26,2023 at 11:59 PM EST to pick up these acks.

EFC and IRS E-filing Shutdown for TY 2020-2022 - Business Returns

Please take note of this important information about electronic filing.

IRS has announced its MeF (e-file) shutdown and cutover for Tax Year 2022. To ensure that all business tax returns e-filed through the MeF system are processed in a timely manner, submissions must occur before IRS shuts down the system on Tuesday, December 26, 2023, at 11:59 a.m. Eastern time.

Electronic Filing Center (EFC) Maintenance/Shutdown

To prepare for the upcoming season and to ensure that all business returns for tax year 2022 are processed timely, Wolters Kluwer will shut down the Electronic Filing Center (EFC) on Thursday, December 21, 2023, at 10:00 PM EST (in advance of the IRS Business E-filing Shutdown) for the following returns:

• Partnership (1065)
• Corporation (1120)
• S Corporation (1120S)
• Fiduciary (1041)
• Employee Benefit Plans (5500)
• Exempt Organization (990 Series)
• 94X Series
• All other return types not listed including state, local, and school district returns

This maintenance will end no later than the date that the IRS opens for tax year 2023, which is yet to be announced. During this maintenance period, you will NOT be able to:

• Transmit returns
• Receive acknowledgements (acks)

Final Day for Electronic Filing of 2020 Returns

Thursday, December 21, 2023, is the final day that tax year 2020 returns can be electronically filed. Any acknowledgements must be retrieved by the user no later than December 26, 2023 at 11:59 PM EST for TY20 e-files. EFC for TY20 will not be available after December 26,2023 at 11:59 PM EST to pick up these acks.

State News: North Carolina TY 22 BIT Acknowledgements are Delayed

Please review the important information below that we have received from the North Carolina Department of Revenue (NCDOR).

NCDOR is currently experiencing technical difficulties with the BIT gateway. Therefore, acknowledging TY22 BIT submissions is currently delayed.

We will update this post once the NCDOR resolves the issue.

IRS announces delay in Form 1099-K reporting threshold for third-party platform payments in 2023

IRS announces delay in Form 1099-K reporting threshold for third-party platform payments in 2023; plans for a threshold of $5,000 for 2024 to phase in implementation

 IR-2023-221, Nov. 21, 2023

 WASHINGTON — Following feedback from taxpayers, tax professionals and payment processors and to reduce taxpayer confusion, the Internal Revenue Service today released Notice2023-74 announcing a delay of the new $600 Form 1099-K reporting threshold for third-party settlement organizations for calendar year 2023.

 As the IRS continues to work to implement the new law, the agency will treat 2023 as an additional transition year. This will reduce the potential confusion caused by the distribution of an estimated 44 million Forms 1099-K sent to many taxpayers who wouldn’t expect one and may not have a tax obligation. As a result, reporting will not be required unless the taxpayer receives over $20,000 and has more than 200 transactions in 2023.

 Given the complexity of the new provision, the large number of individual taxpayers affected and the need for stakeholders to have certainty with enough lead time, the IRS is planning for a threshold of $5,000 for tax year 2024 as part of a phase-in to implement the $600 reporting threshold enacted under the American Rescue Plan (ARP).

 Following feedback from the tax community, the IRS is also looking to make updates to the Form 1040 and related schedules for 2024 that would make the reporting process easier for taxpayers. Changes to the Form 1040 series – the core tax form for more than 150 million taxpayers – are complex and take time; delaying changes to tax year 2024 allows for additional feedback.

Read the full announcement here: IR-2023-221.

Tax Pros may be Contacted to Participate in an IRS Survey

Tax pros may be contacted to participate in an IRS survey

Between Nov 27, 2023, and Jan 19, 2024, tax pros may be randomly selected to participate in a voluntary phone survey. This is not a scam. Please don’t hang up. Responses will help the IRS improve services to the tax pro community and the taxpayers they serve.

The survey will be conducted by ICF, an independent research firm hired by the IRS. It will take about 20 minutes to complete, and covers topics including e-filing, due diligence requirements, data security, and electronic document submission. All responses are anonymous and confidential. Tax pros will not be asked to provide any personal info about themselves or their clients

If tax pros are contacted, it will be Monday through Friday between 8:30AM - 6:30PM local time and they’ll see a Kansas City (816) area code on their caller ID.

For more information or questions about the survey tax pros can email TaxProfessional@icfsurvey.com or call (888) 504-6387.