IRS and Tax Filing Issues

Robert Martin27 said:Oh, absolutely, you can definitely do that!
Just make sure you skip over the section regarding paid federal taxes and surcharges, and focus solely on the calculation portion.

That’s the thing, though—in this specific case, there wasn't actually a paycheck issued. If I look at Form ID under Section II, "Information on Paid Receipts and Tax Calculations," points 1 through 8 should all be left blank. All that needs filling out is Section III, "Contribution Calculations." But when I try to submit it like that... it gets rejected. I ended up submitting everything with the paid tax amount set to 0.00, but I have a feeling that's wrong since no actual payment took place. To make matters worse, the contact person at the client's office is such an unpleasant woman that I'm stuck with no one else to turn to for advice.😁

Kimberly Harris6 said:That’s the thing, though—in this specific case, there wasn't actually a paycheck issued. If I look at Form ID under Section II, "Information on Paid Receipts and Tax Calculations," points 1 through 8 should all be left blank. All that needs filling out is Section III, "Contribution Calculations." But when I try to submit it like that... it gets rejected. I ended up submitting everything with the paid tax amount set to 0.00, but I have a feeling that's wrong since no actual payment took place. To make matters worse, the contact person at the client's office is such an unpleasant woman that I'm stuck with no one else to turn to for advice.😁

If you just fill out Section III for the Contribution Calculations and absolutely nothing else—nothing at all!—it goes through perfectly every single time. That was exactly how I managed to get mine accepted! 😉

Robert Martin27 said:If you just fill out Section III for the Contribution Calculations and absolutely nothing else—nothing at all!—it goes through perfectly every single time. That was exactly how I managed to get mine accepted! 😉

Well, nothing works... fine, I'll give it another shot. But before, the system kept throwing errors at me, claiming data was missing in one spot, then another, and so on...
I'm going to try again, I guess...

Last🙂.. if anyone else tried to tell me what I just said, I’d say they were lying. Honestly, I think my headcount in that Section II area was off, which is why it kept throwing those errors. There isn't any other explanation for it.
Thanks..

Timothy Morgan38 said:And how exactly are you supposed to file electronically when the option doesn't even exist??? What are you doing, genius... did you try explaining to her that the digital option simply isn't there???

Same thing applies to the DOH and KD forms for small businesses—how do you file them electronically when there's no button for it???

Here is my current workflow:
1. I submit the VAT-K, PD, SR, and FBI via the IRS portal.
2. For BlackRock filings, I provide them on a CD/USB, then hand over the decisions and notes on paper directly to FINRA.
3. Gross balance sheets, loss summaries, and declarations regarding overpaid prepayments go as hard copies to the IRS.
4. I also print out the entire BlackRock report and attach it to the gross balance sheet... just so I don't have to drive back to the IRS twice for the same thing. Sometimes the IRS can't pull the report they received from FINRA, so they end up demanding a "paper version" anyway.

For small business taxpayers (those making over $800,000), I handle it like this:
1. VAT-K, SR, and FBI via the IRS portal.
2. The KD form, the tax returns (DOH and DOH-Z), and all the supporting documentation for the VAT-K... all of that goes as paper files to the IRS.

Wouldn't it be way easier and cheaper just to upload everything as an Excel file online?

Jason Fox2 said:Wouldn't it be way easier and cheaper just to upload everything as an Excel file online?

it's not 😉

So, here's the deal:
I’ve got the tax software all installed, my certificates are looking good, and I even grabbed that authorization program they require for digital signatures. But here's the kicker—every time I fill out my info and hit send, the system just rejects my token.
I'm running everything through a USB token from Chase.

Any idea what might be causing this headache?

Alright, let's break this down. When you say the USB under Chase, are you talking about the card reader? Once you finished entering your info, did you get to the certificate step and have it pull up in both spots? You should see the Active Customer/card icon in the bottom right corner. If you've got your card in the reader and click that Active Customer icon, can you actually get into the card data? Does it prompt you for a PIN, and if so, do you know what it is?

I’m using a USB security token here, which lets me handle all my e-filing through it.
Everything seems set up on my end—the e-filing software is installed and I've selected the right certificates.
The next step was installing the authorization application (it’s about 57MB) and then moving on to assigning permissions. I filled out all the details—name, last name, the whole bit—selected the certificate, and entered the EIN for the business entity... then I hit send. But when I click submit, it asks for my password, I type in the exact one I'm supposed to use... and then? Nothing. It just throws an error message at me instead of sending.
What on earth is going on with 🤷

I gotta admit, I’ve never actually heard of that authorization app before. From what I know, if you want to get a certificate issued in your own name, you either have to be an official officer at the company or get a specific authorization by grabbing the right form from the IRS website, filling it out at the office, and then heading down to the local tax office with that paperwork and your Chase card to get everything squared away.

There isn't really such a thing as a "special" card for this, since you can just use one of the business banks approved by the IRS. And yeah, Chase is one of those
. It doesn't matter though, thanks anyway.
I'm going to give the IRS a call tomorrow to see what they have to say about it.

The authorization app I was talking about is this one:

http://www.irs.gov/help/authorization...full.htm

Huh, gotta admit that’s a first for me, since basically everyone I know (including some folks who bank with Chase) just uses their standard debit card, and you can pretty much plug in a reader from any major bank.

Can someone please explain this to me in plain English—is this "premium" card actually useless and just a total waste of money? Or let me rephrase that for the folks who deal with the IRS instead of some local tax office: can I just file my own returns and handle things for other people (assuming I have power of attorney) using my standard USB key?

amberbadger17 said:Can someone please explain this to me in plain English—is this "premium" card actually useless and just a total waste of money? Or let me rephrase that for the folks who deal with the IRS instead of some local tax office: can I just file my own returns and handle things for other people (assuming I have power of attorney) using my standard USB key?

If you plan on using a Chase USB key for the IRS, you'll be looking at a fee of $17 per month.
On the other hand, if you opt for the official federal e-card, you’ll pay $17 monthly, which grants you access to both e-tax and e-filing services.
I suppose you should probably just run the numbers on a napkin and decide for yourself whether it's a waste of cash.

Thanks, Carol Ward3, it wasn't actually that hard to crunch the numbers... I just totally misread the situation, which is why I was asking. It felt weirdly off to me. :-)

Could someone please walk me through the process of filing my GFI via the IRS website? What are the specific steps involved—once I have completed the forms on the official pages, what comes next? Any guidance would be greatly appreciated!

You head over to the IRS portal and upload the initial forms. Once those clear, it opens up a section where you can upload your notes and official decisions before signing off. The software basically walks you through the whole process step-by-step.

Their server just went down, so nothing is going through for me. I’m honestly right on the edge of a total nervous breakdown 🙂

What an absolute disaster! And here I was thinking I finally had the hang of this—I even had my Social Security number ready to go and everything, but still, nothing is working! Total nightmare. Let me know if you manage to get through, Lili p.!!!

The IRS portal is back up and all reports have been submitted 👋

Bravo—honestly, hats off to you. As for the rest of us? Well, we’ve pretty much thrown in the towel and gone back to the old ways of doing things after losing our minds entirely.😉