Federal Individual Updates Now Available

ProSeries/1040 and ProSeries Basic/1040 updates became available online on July 1, 2008. Please download the appropriate update, if you have not already done so. (Go to the Update menu and select Update Installed Products.)

After installing the update, we recommend that you view the ReadMe file for a list of items addressed in this release. (Go to the Help menu and select Help Center. In the Help Center, double-click ReadMe Information and select Form 1040: Individual. Click the Items addressed in this release... link.)

• TIP: Installing ProSeries on a New Computer
  When you purchase a new computer, you will need to install the ProSeries tax software on the new computer and then copy your client files from the old computer to the new computer. ProSeries does not support moving or copying the ProSeries tax software to a new computer. Learn more

Search the Knowledge Base to view more General topics.

• Filing Extensions Changing for Some Business Taxpayers Later this Year
  On June 30, 2008, the IRS issued News Release IR-2008-84, announcing a change in the extended due date on certain business returns to help individuals better meet their filing obligations. The change, which reduces the extension period from six to five months, eases the burden on taxpayers who must report information from Schedules K-1 and similar documents on their individual tax returns...
  
  This change will be effective for extension requests with respect to tax returns due on or after January 1, 2009, and applies to business entities that file the following returns and forms that have a tax year ending on or after September 30, 2008:
  
  
  • Form 1065, U.S.Return of Partnership Income
  • Form 1041, U.S. Income Tax Return for Estates & Trusts
  • Form 8804, Annual Return for Partnership Withholding Tax (Section 1446)
  
  For more information, please visit the IRS Web site.

Search the Knowledge Base to view more Federal Tax topics.

• IRS e-file Application or Form 8633
  Reminder, it is very important that your IRS e-file Application or Form 8633, Application to Participate in the IRS e-file Program, has up-to-date information. You can revise your application or Form 8633 on the IRS Web site.

Search the Knowledge Base or visit EF Atlas to view more Federal E-File and Bank Products Software topics.

• Form SC1120-CDP, Account Period End Calculating Incorrectly
  On South Carolina Form SC1120-CDP, the account period end displaying on the estimated vouchers and scan lines is incorrect. This situation will be corrected in the South Carolina Corporation and South Carolina S Corporation updates anticipated to be available online on or about July 9, 2008. Learn more

ProSeries/Texas Corporation Update

• Due Date for Initial Returns Is Incorrect in the Program
  ProSeries/Texas Corporation added 90 days to the anniversary date; however the 90 days should be added to the day before the anniversary date. This situation was corrected in the Texas Corporation update that became available online on July 3, 2008. Download and install this update if you have not already done so. (Go to the Update menu and select Update Installed Products.) Learn more

Search the Knowledge Base or visit EF Atlas to view more State Tax and State E-File topics.

If you have any questions or comments about this newsletter, please contact a ProSeries agent through the e-mail support feature located in the My ProSeries section of the ProSeries Web site.

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