This page has been setup to provide the taxpayer a better understanding what the Federal IRS e-file program is, what bank program offerings may be available and of interest to the taxpayer and the service options A Enterprises Tax Services has available. Federal guidelines and lending institution information shown below is general in nature and intended solely as a guideline, not legal council. Should you desire further assistance, please contact your CPA, attorney, tax consultant or lending institution.
During tax season, almost every taxpayer asks "How fast can I get my refund?" Those handy lightening fast refund checks are a bank loan opened by request from the taxpayer, then, repaid by the IRS depositing the taxpayer's refund with the lending bank at a later date. Banks call these loans Rapid Anticipation Loans or RAL's for short. Many of your established tax preparation firms offer one of more bank products to meet their client's request.
Qualifying for a RAL requires two (2) froms of personal identification from the taxpayer; one must be a photo ID. Both forms of ID's are selected from the lending institution's criterion list. Amounts the taxpayer may apply for when requesting a RAL is guided by the taxpayer's prior return filing. If the taxpayer has filed their prior year's tax return electronically, some lending banks qualify the taxpayer for a higher RAL amount than if the return had been mailed in. However, all applicants must meet these additional bank lending qualifications:
If you can answer "yes" to any of the above mentioned disqualification conditions, your RAL application will automatically be denied .
Refund loan amounts can vary from program to program as well as the cost of bank fees that the bank charges the tax applicant client. The banking loan limits and fees are set each year by the lending institution, not the tax preparer or service bureau. The paid preparer or service bureau that you select to apply through may add an additional fee to your bank product to cover the costs of their services. If the bank also uses a service bureau, which is normal at present, the bank's service bureau may also charge a fee to the tax client applicant.
Taken from the IRS e-file handbook, the IRS states: "A "return" filed in the IRS e-file program consists of electronically transmitted data and certain paper documents. The paper portion of the return consists of Form 8453, U.S. Individual Income Tax Declaration for an IRS e-file Return, and other paer documents that cannot be electronically tansmitted. Form 8453 must be received by the IRS before the return is considered filed. IRS e-file returns have the exact same reporting requirements as paper returns. This means that all the information, forms, schedules, supporting documentation and signatures that would be included with a return filed on paper must be contained in either the electronic return data or on the Form 8453 and the accompaning attachments.
Community property states are: AZ; CA; ID; LA: NV; NM; TX; WA; WI. However, a taxpayer that is Married Filing Separate using a Military Indicator for a stateside address may e-file from these community property states.
Your tax return will not be accepted into the IRS e-file program if:
Banking institutions, as a basic, offer the following as minimum requirements that a taxpayer applicant must meet to be eligible to apply for a rapid anticipation loan (RAL):
The above listed conditions are the minimum level requirements that a RAL taxpayer applicant must meet to be eligible to qualify for a fast refund loan check. Depending upon the institution the ERO is using, the ERO's bank may add additional taxpayer eligibility requirments.
State income tax returns that are filed as part of the Federal/State e-file program become part of the electronically transmitted data. State paper documents are handled by EROs according to state rules".
Listed below are returns and return conditions that are NOT ELIGIBLE to participate in the IRS e-file program:
For a list of tax forms and schedules that are currently acceptable within the IRS e-file program, please visit and review our topic heading IRS e-file accepted forms and schedules.
Oops! I owe the IRS money!! What do I do now?? What choices do I have??
Taxpayers that owe money are encouraged by the IRS to file their paper/e-file tax return early without the requirement of having to fork over payment of calculated tax due until the tax filing deadline of April 15th. At this writing, congress is debating whether to extend the 2003 tax filing season for e-filed returns. If you owe a balance due, be sure to carefully check the guidelines for filing on this new extended filing date.
Taxpayers that owe any additional taxes must pay their tax balance due by April 15h of their current tax year or be subject to penalties and interest on any monies owed.
If a taxpayer uses Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, this only entitles the taxpayer to file the paper portion of their tax return at a later date. Any anticipated tax due must be paid in full by the April 15th due date to avoid any imposed penalties for under reporting and payment of tax liabilities. You may complete form 4868 and mail per printed instructions or apply for an automatic extension request by telephone by calling 1-888-796-1074.
Taxpayer's election of how they wish to meet a balance due amount to the IRS are growing. Some current choices are:
Direct Debit - Taxpayers electing this option must provide a valid, participating bank account number, bank routing number for their qualified savings, checking or share draft account held by the taxpayer and/or spouse. Not all financial institutions support direct debit requests.
Electing this payment method, the balance due the IRS, as shown on your tax return, must be specified along with a specific date on which the debit will be exercised. This permits the taxpayer the option to pay their balance due as soon as the return is processed, or, file early and elect to postpone the tax balance due payment to a later future date but not later than the return due date without an extension. The IRS does not charge for you a fee for this option election.
Your transmitter will require the following: 1 - your account bank routing number; 2 - the bank account number to be debited; 3 - the type of account it is, ie: checking, savings; 4 - date you want the money to be withdrawn; 5 - specific dollar amount you want withdrawn.
Please note: All banking institutions that are capable of using Electronic Funds Transfer (ETF) can support this direct debit payment option. However, verify with your bank, prior to requesting this service, as fund transfers from money management accounts, money market accounts, certificate of deposit accounts and some credit union savings accounts do not allow these transactions.
Credit Card Payment - Selected credit card issuers have opted to process balance due payments for the IRS. These cards are VISA, MASTERCARD, American Express and Discover/Novus. There are two (2) authorized agencies that you may contact to use the above listed cards. These card selections may change from year to year.
Company one is: Official Payments Corporation, www. officialpayments.com or 1.800.2pay.tax (1.800.272.9829) Their customer service number is 1.877.754.4413.
Company two is: Link2Gov Corporation, www.pay1040.com or 1.888.pay.1040 (1.888.729.1040). Their customer service number is 1.888.658.5465.
To authorize payment by credit card, the taxpayer calls a toll free number listed above, agrees to pay a convenience fee to the card servicing company along with the tax balance due amount. This convenience fee is based upon the amount of the tax balance due payment requested and is quoted to the taxpayer at the time the service call is placed.
To authorize a credit card payment through the internet, go to one of the listed websites shown above. Remember, a convenience fee will be charged to you for this service the same as a phone call to the credit card agency.
To authorize an electronic funds withdrawal, use Form 4868.
Note: The Treasury does not charge the taxpayer a fee for processing a payment via this method. All fees are that of the private credit card processor operating under an agreement setup with the IRS.
To CANCEL a scheduled payment for any reason (ie your bank account changes) up to 8 PM eastern time, TWO BUSINESS DAYS BEFORE the scheduled payment date, call 1-888-353-4537. This is a toll free phone number.
Private Delivery Services Taxpayers can use certain delivery services designated by the IRS to meet the "timely mailing as timely filing/paying" rule for tax returns and payments. The most recent list of designated private delivery services was published by the IRS in September, 2002. This list lincludes only the following approved firms:
Private delivery services must be mailed to a street address. When using a PO Box to and IRS site, you must choose the US Postal Service to mail any item to their IRS PO Box location.
By Check - With this option, you can timely file your return early in the tax season electronically and then mail Form 1040-V with your check payment at a future date not to exceed the tax filing due date of April 15th. Write on your check the taxpayer's social security number, the tax year the check is paying and the tax form number it relates to (ie: 1040, 1040-EZ, 1040-A), your daytime phone number. If your return is a joint return, list the first social security number that appears at the top of your 1040 series tax form. If electing e-file for the paper portion of the filed tax return, the check payment may be mailed at a future date up to the date the return due date occurs without an extension. Attach your check payment to Form 1040-V.
IRS Installment Agreement Request - Taxpayers who cannot pay the amount they owe may submit Form 9465, Installment agreement Request to the IRS. If the IRS accepts your request to make installment payments, the IRS will notify you of acceptance, access a processing fee and access interest charges each month you have an active balance due amount open with them.
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With all the tax changes that have occurred in 2003, you may be confused as to what credits, deductions and allowances you are entitled to for tax year 2003 return. Save your precious time researching, learning how to install, run a tax software program and then learn how the tax changes affect your return. Schedule your stress-free no obligation initial tax preparation meeting to discuss your situation. An appointment is required. Please call 330.699.3290 for your personal appointment. Visit our topic Basic Tax Data for a handy reference check list of suggested documents you may need to bring to this meeting.
If you elect to have us prepare your personal return for you , you may drop off your tax documents at this time. Bringing all of your tax documents to your appointed meeting along with your two forms of identification for the taxpayer, one being a photo ID and the other the taxpayer's social security card. will save you another trip and expedite your return processing. We do not waste your valuable time at this meeting. We process your return information after your leave the office. We then schedule another appointment for you to review, approve and provide required signatures.
For each dependant you are claiming, and/or your spouse, we will need to see their respective social security card(s) to verify the name and social security number as it is listed in the Social Security Administation's files. This will assist you in avoiding rejection error's that may never have shown up in prior years. It has been our experience, if you have mailed in prior years' tax returns and are now e-filing for the first time, your listing of dependants may not match.
Whether the taxpayer mails or e-files their tax return, the verification/checking proceedure within the IRS program is a computerized data matching check. If any name, social security data is not an exact match, your return will be rejected. Non matching dependents claimed will be disallowed, without notice, along with any related credits you claimed relating to the disallowed dependent(s). Should your disallowance change your tax filing status, your tax filing status will be amended and a new tax amount liability calculated for you. You will receive a letter, most likely after the fact, stating you had a math error and your return was amended accordingly.
TARGETING
YOUR NEEDS
We offer our clients over 30 years of our business accounting experience and over 40 years of personal return accounting to assist you meet your specific needs. Personal returns, Rental properties, Small Business (sole proprietor), K-1, Broker trade accounts and related are accepted. Questions are encouraged. We believe that if our client is well informed, they can make better decisions. Following the close of tax season current tax year clients receive free one hour of on-going tax consulting, related to personal tax topics, for the balance of the calandar year. This can be by phone or by appointment.
We offer a labor group members a $10.00 credit towards their tax preparation fee charges. Only one credit per return, please. Be sure to present your membership card during your initial appointment meeting.
All banking products are available to those who meet the bank guidelines. RAL fast refund checks available for all qualified clients. Direct deposit of your refund or RAL bank product to your personal checking or savings account with all participating banking institutions at no additional charge; Bank bonus checks/deposits available as soon as the IRS releases monies; and bank debit at a future specified date.
Gift Certificates are available, for any amount of money, to give to family and others to assist payment of their tax preparation fees. Certificates expire with the close of regular tax season, April 15, 2004 or, if extended April 30, 2004 whichever occurs earlier. Certificates are not redeemable for cash.
All prepaid preparation fee clients and RAL program participants are offered free e-file if their return meets banking and the IRS e-file guidelines. MASTERCARD and VISA credit cards accepted to pay prepaid preparation fees. Additionally, personal and cashier checks accepted, and, of course, green cash too! Currency bills will checked for authenticity.
Tax returns for prior tax years' tax preparation will be reviewed to meet your needs and then assist you in catching up on any Federal, State or City returns whether grouped or as a stand alone. Our computer tax programs are available from 1992 forward. We can assist clients and non-clients that receive correspondence from the IRS requesting additional information/documentation. Call 330.699.3290 for your personal appointment
All fees for in-house tax review and preparation are based upon the taxpayer's needs, forms required and complexity of the tax return(s). Please call (330.699.3290) to setup a mutually agreeable time to discuss your needs/concerns/questions.
To properly assist the client, bring to your tax meeting all tax documentation(s) relating to the return(s) you wish to discuss including any correspondence notices/letters received. This is needed to properly assess your needs and quote a close estimate for preparation costs. If accepted, we will need two (2) forms of identification for the taxpayer, one of which must be a photo ID, and social security card for the taxpayer, spouse and all dependants you plan to claim. Verification of ID's and social security cards are requirements for all paid tax preparers. If you have a court order or agency agreement related to marital or dependant claim status, we will need to review these documents to properly counsel you. Please bring to your appointment. Thank you in advance for your cooperation and understanding.
Your first meeting is no charge for initial review and consultation for your personal tax preparation work.
A deposit is required for all in-house tax preparation and consulting work, payable at time services requested, amount determined by type and complexity of return required. Again, credit card, valid check or cash accepted. Taxpayers with a refund due, eligible to e-file and apply for a fast refund loan check, and meets the IRS and bank lending guidelines, may defer their preparation fees against the anticipated tax refund. In the event the taxpayer is declined participation, all deferred tax preparation deposits, preparation fees and related are immediately due in full. No grace period to apply. All late fees, interest and related legal fees to apply to declined deferred accounts retroactive to date of original electronic submission to IRS.
