An EFIN is not required to file Form 8944, Request for Financial Hardship Exemption filed electronically by the preparer. However, Form 8944 requires preparers to include a tax preparer's tax identification number (PTIN). TurboTax is an excellent, easy-to-use tax software that allows you to streamline the process of applying for your tax return and works without an EFIN code. You can access TurboTax by downloading the software or by accessing the online tax portal.
If you don't have enough space on your hard drive or you just don't want to download anything, you can use the TurboTax online. The advantage of using this method allows you to access your files from anywhere in the world with ease. One of the best features of TurboTax is its ability to help you at every step of the process of applying for your documents online. Because of the structure of the TurboTax chat line, it almost feels like an interview while filling out all the required data.
AccutaX is another incredibly useful tax software that allows you to prepare your taxes regardless of whether you want to do it for an individual or a company. Although this software doesn't require you to have an EFIN account to file tax returns and many other operations, it's worth mentioning that the AccutaX team can also help you get an EFIN in less time. There is currently no fee to obtain an EFIN. You must submit an application and pass a tax eligibility and compliance check.
Not all tax preparers need an EFIN, unlike a tax preparer identification number (PTIN). If you work as a tax preparer for a company, chances are your company is already assigned an EFIN. To help prevent identity theft, protect your and your customers' data, and comply with IRS requirements, we must verify the EFIN credentials of all our professional clients. Send a copy of the summary of your IRS electronic filing request including your tracking number to TaxAct Professional for verification.
This unique verification process must be completed for each EFIN used in your office (s). Checking your EFIN before the start of the tax season will help avoid interruption to your electronic filing services. Depending on the document, you can use tax preparation software to file the electronic return or file it online through the Tax Department's online services. In some cases, you'll have the option to use either method.
However, if you are a tax preparer who is starting your own business, you should get an EFIN for your office. This bulletin provides information on who is subject to the electronic filing mandate for tax return preparers, how to do so, the tax documents subject to the electronic filing mandate, and the penalties involved in non-compliance. Start applying for your EFIN around October of the previous year so you can start preparing taxes for the next calendar year. However, taxpayers should be aware that subsequent changes to the Tax Law or its interpretation may affect the accuracy of a tax bulletin.
Tax preparers can become authorized IRS e-filing providers through an application and selection process. Tax preparers and customers must fill out Form 8948 and submit it along with other tax return documents. All tax preparation businesses must be equipped with an EFIN, as the IRS requires any company that files more than 10 tax returns to use its electronic filing services. If you're new to the tax business or you're looking for a branch and starting your own tax business, this is a great package to start with.
For the purposes of the electronic filing mandate, an authorized tax document does not include any return or report that includes one or more tax documents that cannot be filed electronically. For new tax preparers who develop their practice, you are the director and the responsible official of your company. Tax Dragon Pro Network is a tax services agency based in Atlanta, GA, that provides services across the country to provide tax preparation software to entrepreneurs across the country. .