Domestic partnerships meeting certain requirements (generally large partnerships) are required to submit their tax returns in the IRS specified e-filing format. Our e1065 module allows domestic partnerships to produce an e-file, validate the data contents, and submit large partnership tax returns.
Certified by the IRS for electronic filing, e1065 makes e-filing intuitive and efficient. By granting users the ability to import the majority of internally generated data with an easy-to-use validation processes, Tax Series simplifies data validation while making the return production process exceedingly more efficient. Producing a large partnership filing is far from easy. Tax Series not only makes it easier, but more efficient as well.
- Contains step-by-step set up screens that walk users through the initial set-up process
- Provides step-by-step input screens that walk first time users through the return process
- Offers flexible and efficient data imports that helps users set the system up quickly
- Provides a built-in K-1 reconciliation report that allows users to identify the schedule K and K-1 difference quickly
- Provides intelligent address parsing and validation allowing users to handle exceptions quickly
- Handles unlimited general ledger systems, charts of accounts, and currencies
- Lets users map data into a standardized chart of account format
- Provides the ability to create time-saving automatic adjustments
- Lets users set up data at business unit, branch, or any level lower than entity while combining the data for provision, planning, or other purposes
- Allows applicable data to carry seamlessly from area to area; thereby reducing duplication of efforts and potential errors by letting users work in multiple tax areas with ease
- Provides multi-year capabilities that allows users to easily access prior year’s data and future years for comparing prior and current year data, auditing, or planning
- Produces fast and efficient calculations that alert users to the process stage status
- Provides partner allocation calculations using direct sourcing and apportionment methods
- Provides foreign source income tracking and corresponding expense apportionments
- Handles large volume returns (up to 100,000 K-1s per return)
- Offers diagnostics that indicate if errors exist
- Generates easy to navigate forms for online review quickly
- Provides a comprehensive set of reports that lets users track and review every step of the single entity as well as the consolidated calculation process
- Creates easy to understand reports that users can print and/or integrate with Microsoft® Excel®.
- Makes it easy to create and navigate Form 1065, large volume of Schedule K-1s and related schedules
- Offers the ability to create a print binder and attach other forms if needed