Filing Deadline for Calendar Year Corporation and S Corporation Returns and Extensions is March 15, 2010

The IRS filing deadline for calendar year Corporation and S Corporation returns and extensions for tax year 2009 is March 15, 2010. Timely e-filing of returns/extensions must be transmitted to the Intuit Electronic Filing Center by 11:59 p.m. on March 15, 2010, in the ERO's time zone.

Important Note: Starting with the 2010 processing year, the IRS "perfection period" has changed from 20 days to 10 days for rejected Corporation and S Corporation returns. Electronically filed returns that are timely filed and rejected can be corrected and retransmitted by the later of the due date of the return or 10 calendar days from the date the rejection was issued by the IRS. For more information, please view the KB Article.

Answers to Popular Questions Asked During March 15th Deadline

Click the links below to find answers to popular questions ProSeries users ask during the March 15th filing deadline.

• What is the deadline for retransmitting timely filed rejected business returns?
• What can I do if the e-file status is not updating?
• How do I batch print federal and state extension forms?
• How do I transfer a prior year 1120 return into a current year 1120S return?
• What is Error Code F7004-904?

Have a question that doesn't appear in this newsletter? Visit ProSeries Online Support to search our knowledge base, ask IVA, browse FAQs, view hot topics, and much more.

New York Fiduciary E-File Mandate Exception

New York Fiduciary: New York has issued a mandatory e-file requirement for all return types filed beginning on January 1, 2010. ProSeries does not support 1041 (Fiduciary) e-filing for TY09. There is an exception for the e-file mandate for 1041 customers for TY09. If customers have purchased software that does not support e-filing for 1041, they will be able to still paper file this form for TY09. For more information, please view the KB Article.

New York Issues a Correction to Form IT-204-I, Instructions for Form IT-204, Partnership Return and Attachments, Page 12, Line 116b

New York Partnership: New York has issued a correction to Form IT-204-I, Instructions for Form IT-204, Partnership return and attachments. The New York State Department of Taxation and Finance Web site states: "There is an error in the instructions for line 116b on page 12. The amount determined in the issued instructions must be multiplied by 92.35% to get the correct amount to enter on line 116b."

This situation has been corrected in a ProSeries New York Partnership update that became available online on March 3, 2010. Download and install this update, if you have not already done so. For more information, please view the KB Article.

California LLC New Form 3536 and Fee Payment Requirements

California Limited Liability Company: New for 2009, California Limited Liability Companies must now pay their Limited Liability Company (LLC) Fee by the 15th day of the 6th month of the current taxable year on Form 3536, Estimated Fee for LLCs.

For 2009 calendar year returns, the LLC Fee was due on or before June 15, 2009. The 2008 ProSeries California LLC module included the 2009 Form 3536 for timely filing of 2009 estimated LLC Fees. The 2009 ProSeries California LLC module includes the 2010 Form 3536 for payment of Estimated LLC Fee for 2010. Continue to use Form 3522, LLC Tax Voucher, to pay your annual LLC Tax, by the 15th day of the 4th month of the current taxable year (or 4/15/09 for 2009 calendar year returns). For more information, please view the KB Article.

IRS Outlines Additional Steps to Assist Unemployed Taxpayers and Others

On March 9, 2010, the IRS issued News Release IR-2010-29, announcing several additional steps it is taking this tax season to help people having difficulties meeting their tax obligations because of unemployment or other financial problems. For more information, please visit the IRS Web site.

IRS Announces Qualified Disaster Treatment for Chile

On March 9, 2010, the IRS issued News Release IR-2010-28, issuing guidance designating the earthquake that occurred in Chile in February 2010 as a qualified disaster for federal tax purposes. The guidance allows individuals who receive qualified disaster relief payments from any person to exclude those payments from income on their tax returns. Also, the guidance allows employer-sponsored private foundations to assist employee-victims in areas affected by this earthquake without affecting their tax-exempt status. For more information, please visit the IRS Web site.

Use the Missing Client Information Feature to Easily Track Missing Client Data

Be more organized and productive during tax season. The Missing Client Information feature enables you to easily track missing client data and helps you quickly get it entered. For more information, please view the Missing Client Data Video.

Note: The Missing Client Information feature is not available in ProSeries Basic.

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