Insider Tips for Getting it Right - Internal Revenue Service · 2012-07-31 · Getting it Right....
Transcript of Insider Tips for Getting it Right - Internal Revenue Service · 2012-07-31 · Getting it Right....
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Insider Tips for Getting it Right
Submission ProcessingJimmy SmithPeggy BogadiJames Gaither859-669-5552
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Presentation Overview
• A quick look at the Process
• E-file growth continues
• Common Errors
• CADE Update
• What’s on the Horizon
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E-file vs Paper Processing
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E-file Growth
2007-2009 are projected volumes
0
20
40
60
80
100
120
8 9 0 1 2 3 4 5 6 7 8 9
Tax Years
Mill
ions
of R
etur
nsPapere-file
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Returns Processed in 2006 (in Millions)
Forms Paper E-File
Individual 62.7 73.3
Corporate 5.8 .5
Employment 24.7 5.4
Partnership 2.6 .3
Extensions 12.6 2.4
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Processing Individual Returns Nationwide
Approved IMF Paper Map - 2008
AK
AZ
CA CO
HI
IA
ID
KS
MNMT ND
NE
NM
NV
OK
OR
SD
UT
WA
WI
WY
MA
MD
ME
NH
NY
VT
AL
DE
FL
GA
NC
RI
SC
VA
AR
CT
IL IN
MI
MO
NJOH
PA
WV
KY
LA
MS
TN
TX
SP SitesFANATKCAU
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Processing Business Returns Nationwide
AZ
WA
OR
NV
CA
AK
UT
ID
MT
WY
CO
NM
TX
OK
KS
NE
SD
NDMN
IA
WI
IL
MO
AR
MS
LA
AL
TN
KY
IN
MI
WVVA
NC
SC
GA
FL
PA
NY
ME
NH
CTMA
RI
NJ
DEMD
VT
OH
HI Filing LocationsCincinnati, OH
Ogden, UT
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Most Common Errors
• TIN/Names do not match records
• EITC Computations Incorrect
• Missing Signature
• Missing Forms and Schedules
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Tips that Help Get it Right
• File electronically
• Verify names and numbers
• Ensure EITC info is correct
• Ensure returns are signed
• Attach required forms
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Results of 2007 Initiatives
• Form 8888 (Split Refunds)
• Form 944 (Annualized 941)
• EFTPS in lieu of FTD Coupon Books
• 940/941 payments by credit card
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• Complete 1040 Family • Most Filing Statuses• Schedules A,B,D,E and R• Schedules C, F, SE
CADE Processing
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More e-fileable Forms
• Form 1040 PR/SS
• Form 8917
• Form 8919
• Form 8886
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New Initiatives for 2008
• Employment Return Adjustments
• Retroactive Subchapter-S Elections
• Paper Check Conversion
• Form 8453