Posts by Kyle Rogers8

Carol Ward3 said:It seems everyone is jumping into this "e-equity" business lately, and I suppose even Joe and I are starting to consider it. My goal would be to handle all the reporting through Fidelity and the IRS.
I assume the first step involves setting up that specific Fidelity account, right? I’m curious about what the initial investment might look like—specifically regarding the types of digital signatures and certificates required—as well as the ongoing monthly overhead. From what I’ve gathered browsing the Fidelity website, the monthly fee for these e-services is $17, which supposedly covers filing R-Sm forms, annual financial statements, and statistical reports; they also mention electronic signature verification and monthly access to e-payment services. However, I'm wondering what that actually translates to in practice. What kind of additional costs should I expect, and how much more would it cost if I were also handling filings for the IRS?
This might be a bit of a silly question, but since I don't have this obligation yet, I probably shouldn't dive into the business if the monthly expenses end up being too steep.
Thanks

The IRS e-filing (plus Social Security and Medicare filings) is completely free. Basically, you just have a one-time setup cost for the Fidelity card + $17 per month for a single company. If you're managing multiple companies using that same card (via power of attorney), you pay an additional 2.5-$4.00 per authorization—the total depends on how many authorizations you have; more means cheaper per unit. And again, those fees are strictly for Fidelity's services (registration, stats, Fidelity payments), while the IRS (and SSA/Medicare) authorizations are free.

In practical terms, one company is $17 per month, three companies is $29, 101 companies is $101. That bill might only jump if you request a specific transcript or a statistical copy during a given month—things Fidelity charges for, though it's still better than paying at a physical office.

James Patel2 said:To pull tax cards for previous years, you have to set the listing date to December 31st of the year you need. For example, use 12/31/2010, then 12/31/2009, and so on. Every prior year closes out on January 1st and rolls over as either a debt or an overpayment, which is why you have to list them this way. The IRS e-file system is efficient because you can generate forms directly from accounting software and upload them straight to the portal. Additionally, a single firm using one digital certificate can manage all their clients through the electronic system... all they need to submit to the IRS is the client's power of attorney and the specific e-file authorization for that individual. ☕

I think that’s only partially right—according to the IRS website, you can pull a card for the current year or the previous one (using a date like 12/31/2010), but 2009 doesn't really fit that logic.
I've noticed some newer users complaining about booking delays, but from my experience—you just need to call your agent during your first month of service and tell them to start pulling e-forms moving forward. Everything gets posted on time for me because the agents are already used to the process—I've been doing this since 2008.

@Raymond Martinez10
Are you filing your sales tax online? Or are you still hand-delivering balance sheets and income statements (+ whatever else they ask for) via mail or in person?

It’s honestly ridiculous that they don't have PPMIPO available on the e-tax portal.😠