Business Program

Desktop Business Returns: 2023 Form 8936 - Clean Vehicle Credit

Beginning in tax year 2023, Form 8936, Clean Vehicle Credits, is used to calculate electric vehicle (EV) and fuel cell vehicle (FCV) tax credits.

Why is the cover page, client letter, or invoice not printing with a business return?

In Tax Processors Plus Desktop, the predefined business print options do not initially include the cover page, client letter, or client invoice as many business return preparers prefer to use their own forms for these pages.

Business Returns: California Entity Number and SOS Number

The California Entity Number is the identification number assigned to a business entity by the California Secretary of State at the time of registration.

Self-Prepared Business Return: Removing Paid Preparer and Firm Information

In Tax Processors Plus Desktop, if you are going to keypunch an individual tax return for a client who prepared the return themselves for the purposes of e-filing, you will want to mark the return as a self-prepared return.

Changing a Return To or From Form 1065

In Tax Processors Plus Desktop, if you start a partnership return but need to prepare a corporation or S corporation return, or vice versa, the return cannot be changed to or from a partnership return.

Form 990 Parts VIII and IX - How to make entries in Column A only

A section 527 political organization filing Form 990 completes only column (A) of Part VIII, Statement of Revenue, reporting its gross receipts for all sources of revenue.

Where to attach a PDF to a business return

Once the document is attached, you can view it by selecting the document in its menu and clicking View.

Business Client Letter Menu

The wording on the letters can be modified as you wish, but care needs to be taken not to disturb the data tags that insert information drawn from the client's return.

Business Print Menu

Print Business Returns

Editing The Detailed K-1 Letter

The K-1 Letter is the cover letter that accompanies Schedule K-1 for S Corporation, Partnership, and Fiduciary returns.

Preparing Business Returns

To prepare a Business return in Tax Processors Plus Desktop, from the Quick Menu select Business .

How to Remove / Delete a Business Return

Editing The Detailed Business Letter

The Detailed Business Letter is the cover letter that accompanies Corporation, S Corporation, Partnership, Fiduciary, Exempt Organization, Estate, and Gift returns.

Business Utilities

Backup Returns - The program automatically backs up all returns to your local hard drive or whichever backup path you specified during the initial program configuration.

Form 1125-A – Cost of Goods Sold

Form 1125-A is used by business return filers (Form 1065, 1120 and 1120-S) to calculate and then deduct the cost of goods sold by a corporation or partnership.

Business Extensions

When additional time is needed to complete a business return, you may be able to get an automatic extension of time to file.

View Entity Status - Checking the Status of a Business Return

For more information about the acknowledgement, select the Acks tab.

Changing Form 1120 to 1120-S or Vice Versa

A corporation return (Form 1120) and an S-corporation return (Form 1120-S) can be changed to the other.

Printing Business Mailing Labels

A PDF page of the labels will open.

How To Edit The Number Of Shareholders, Partners, or Beneficiaries

The number of shareholders on Form 1120 must be entered on Schedule K if there are fewer than 100.

Business Returns - Preparer Notes and Miscellaneous Statements

Balance Sheet Warning - Total Assets Do Not Equal Total Liabilities & Equity

Return of Partnership Income , Form 1120, U.S.

Fiscal Year Must Begin In Current Tax Year

A fiscal year is 12 consecutive months ending on the last day of any month other than December.

Form 8941 - Credit for Small Employer Health Insurance Premiums

Eligible small employers can use Form 8941 to figure the credit for small employer health insurance premiums.