Insider Tips for Getting it Right

Submission ProcessingJimmy SmithPeggy BogadiJames Gaither859-669-5552

Presentation Overview

• A quick look at the Process

• E-file growth continues

• Common Errors

• CADE Update

• What’s on the Horizon

E-file vs Paper Processing

E-file Growth

2007-2009 are projected volumes

0

20

40

60

80

100

120

8 9 0 1 2 3 4 5 6 7 8 9

Tax Years

Mill

ions

of R

etur

nsPapere-file

Returns Processed in 2006 (in Millions)

Forms Paper E-File

Individual 62.7 73.3

Corporate 5.8 .5

Employment 24.7 5.4

Partnership 2.6 .3

Extensions 12.6 2.4

Processing Individual Returns Nationwide

Approved IMF Paper Map - 2008

AK

AZ

CA CO

HI

IA

ID

KS

MNMT ND

NE

NM

NV

OK

OR

SD

UT

WA

WI

WY

MA

MD

ME

NH

NY

VT

AL

DE

FL

GA

NC

RI

SC

VA

AR

CT

IL IN

MI

MO

NJOH

PA

WV

KY

LA

MS

TN

TX

SP SitesFANATKCAU

Processing Business Returns Nationwide

AZ

WA

OR

NV

CA

AK

UT

ID

MT

WY

CO

NM

TX

OK

KS

NE

SD

NDMN

IA

WI

IL

MO

AR

MS

LA

AL

TN

KY

IN

MI

WVVA

NC

SC

GA

FL

PA

NY

ME

NH

CTMA

RI

NJ

DEMD

VT

OH

HI Filing LocationsCincinnati, OH

Ogden, UT

Most Common Errors

• TIN/Names do not match records

• EITC Computations Incorrect

• Missing Signature

• Missing Forms and Schedules

Tips that Help Get it Right

• File electronically

• Verify names and numbers

• Ensure EITC info is correct

• Ensure returns are signed

• Attach required forms

Results of 2007 Initiatives

• Form 8888 (Split Refunds)

• Form 944 (Annualized 941)

• EFTPS in lieu of FTD Coupon Books

• 940/941 payments by credit card

• Complete 1040 Family • Most Filing Statuses• Schedules A,B,D,E and R• Schedules C, F, SE

CADE Processing

More e-fileable Forms

• Form 1040 PR/SS

• Form 8917

• Form 8919

• Form 8886

New Initiatives for 2008

• Employment Return Adjustments

• Retroactive Subchapter-S Elections

• Paper Check Conversion

• Form 8453