Electronic filing eases burdens but restrictions still apply

Article Abstract:

The IRS has implemented a system of electronic filing and implemented thresholds on processing W-2s and 1099s in which electronic filing is required. The IRS also has implemented electronic filing for individual income tax returns limited to returns without an overpayment. The IRS will not accept electronic returns from decedent returns, investment interest calculations, foreign minimum or business tax credits, or with more than three rental properties on Schedule E. IRS electronic filing rules mandate a 4800 or 9600 baud modem and permission from the IRS to file electronic returns. The IRS requires the filing of a paper document, Form 8453, US Individual Income Tax Declaration for Electronic Filing, for each return. Practitioners can use software packages offered by Pencil Pushers (Burlington, MA) and Prentice Hall Professional Software (Atlanta, GA).

Laws, regulations and rules, United States. Internal Revenue Service, Tax returns, Prentice Hall Professional Software Inc., Pencil Pushers

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Tax research is easier with an electronic library

Article Abstract:

Tax accountants can realize significant time savings by utilizing an electronic library. CCH MAster Tax Guide is available through CCH's electronic library. The software requires an IBM-compatible PC with a minimum of 640Kbyte RAM, a hard disk with 3Mbyte of space available, and DOS version 3.2 or higher. Installation of the program is simple. The program provides for several methods of searching for information that can be linked together to speed up research times. The program provides cross-references to CCH Standard Federal Tax Reporter. Diskettes cost $80 each. Overall, the guide on computer provides a simple way of conducting research.

Prepackaged software, Evaluation, CCH Computax Inc., CCH Master Tax Guide (Tax preparation software)

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Template helps you value a closely held business

Article Abstract:

Valusoft, Inc's (Pacific Beach, CA) The Expert Witness is a template that is used in other programs and can be used to value closely held businesses with a spreadsheet program. The template can be used with either Lotus 1-2-3 or TWIN, and is available on wither 5 1/4 inch or 3 1/2 inch diskettes. The template requires a significant amount of memory: 350K of RAM after the spreadsheet is loaded. The Expert Witness helps the user obtain and assemble tax information. The template is not simple to use, but has the highest quality of reporting of several valuation programs analyzed.

Taxation, Close corporations, Valuation, Closely held corporations, Spreadsheets, Spreadsheet software, Valusoft Inc., The Expert Witness (Spreadsheet software)

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