Stockpiled delayed returns to be accepted on Sunday, online filing to start next week

BY SALLY P. SCHREIBER, J.D.

Late Wednesday, the IRS announced that it will begin accepting from e-file transmitters stockpiled returns containing the 29 forms for which acceptance was delayed beginning on Sunday, March 3, at 7 a.m. ET (Quick Alerts for Tax Professionals (2/27/13)).

E-file transmitters have been holding returns submitted with the delayed forms and not transmitting them to the IRS, which has not been prepared to accept them. The IRS says transmitters should send only their stockpiled inventory on Sunday, evenly spread out throughout the day; the Modernized e-File team will review reject trends to ensure everything is working properly. The transmitters should not yet enable online filing of forms.

Assuming there are no problems, the IRS says it will issue a Quick Alert early next week announcing the official opening of e-filing for all returns and forms. At that time, the 29 forms that have been delayed will be accepted for online filing.

Sally P. Schreiber ( sschreiber@aicpa.org ) is a JofA senior editor.

SPONSORED REPORT

"We need to talk."

Start a conversation with your clients using these questions and checklist for post busy-season business development.

NEWS

Revenue recognition revisited

A reexamination of new revenue recognition rules has led to tinkering with the standard that is considered the biggest achievement of the convergence efforts of FASB and the International Accounting Standards Board.

INTERVIEW

Staying focused at the top

Olivia Kirtley, CPA, CGMA, an accomplished corporate director with almost 20 years of experience serving on boards, talks about strategic, risk, and compliance issues that keep board members up at night.