Basic
Fee and Sign-up Deadline:
Deadlines
are a necessity for this service. IRS deadlines must be
met, and our deadlines allow us time for processing the
large numbers of participants in this program. YEP Service
will not be available for clients who do not sign up by
the deadline listed below or who have outstanding balances
on their accounts.
The
YEP
Basic Fee for tax year 2006 IRS
1099-S FIRE Filing is $400.00.
You must mail the completed sign-up form to us before the
sign-up deadline of December 15, 2006.
The
Basic Fee is discounted to $375.00 if you mail your payment
with your sign-up form by November 30th.
You
can print the sign-up form using the link at the bottom
of this page.
- The
Basic Fee applies separately to separate law firms or
title companies at the same location.
- For
firms with separate Standard Conveyancer™ installations
at separate offices, the Basic Fee applies individually
to each office. (Separate setup, processing and reports
are required for each office.) There are no additional
fees for remote offices that connect to a single, central
Standard Conveyancer™ installation.
- Where
a firm has merged or split midyear, the Basic Fee applies
to each business entity prior to and after the merger.
(If a firm is filing under a new Federal Tax ID, it may
be necessary to file
for a new TCC number.)
Year-End
Processing Services Available:
- FIRE
(Filing Information Returns Electronically) ~ Preparation
for filing 1099-S forms with the IRS Fire Web site at
http://fire.irs.gov.
Testing may be done between November 1 and February 15.
Final data must be transmitted to the IRS by March
31, 2007. (Filing by diskette has been discontinued
by the IRS)
- Recipient
Forms ~ Standard Solutions can help produce your 1099-S
forms for sellers. These Recipient Forms must be postmarked
by January 31, 2007. (This service is not included
in the YEP basic fee and only available if FIRE filing
service is also being provided.)
What
is included in the Basic Fee?
The
Basic Fee covers the total Year-End Processing for over
95% of our clients. Our technicians will make every effort
to follow up with you throughout the process; please
remember, however, it is your responsibility under the law
to meet the IRS deadlines. Time spent on such follow
up does count against your basic time allotment. Repeated
follow-up calls are the main reason the service time allotment
is exceeded and additional expenses are incurred. Timely
response to our technicians' calls and making sure your
data is complete and accurate will help keep your costs
to a minimum.
The
Basic Fee includes:
- Up
to two hours of services performed by a Standard Solutions
technician. Includes telephone calls, connection time,
review of data with client, assistance with edits, generation
of reports, data corrections, zip code entries, etc.
- One
Master Report and one Error Report generated by software
we run against your data to check for missing information.
Reports are delivered in .pdf format for your review and
approval before the data is finalized.
- A
test data file to test electronic filing with the IRS
from your office. The IRS encourages testing for first-time
FIRE Web
site users.
- Preparation
of final data in the electronic filing format required
by the IRS.
- Delivery
of the final data file to your firm. The actual transmittal
to the IRS (testing and final) needs to be done by your
firm. (At the FIRE
Web site, you need to establish your own account for
filing and follow-up). Instructions are available at the
site, or you can contact the IRS directly at 304-263-8700,
ext. 3.
What
extra services and expenses are not included in the Basic
Fee?
You
can generate Seller Recipient Forms directly from Standard
Conveyancer™ as part of the closing package. If you
wish, however, we can produce these forms as part of the
Year End Processing service:
- Seller
1099-S forms are $1.50 per form, if the process is started
by January 5, 2007 (this depends on your data being complete
and accurate). If started thereafter, they are $2.00 per
form.
- Corrected
Seller 1099-S forms are $3.00 per form.
- Mailing
labels for your Seller 1099-S forms are available for
$10.00 per page (20 labels per page).
Printing
and delivery of paper reports is not included. All reports
will be delivered in .pdf format by e-mail. Paper reports
can be supplied for an additional $25.00 per printing. In
addition, you will need to cover courier/delivery expenses
for paper reports.
Services
rendered beyond the initial two hours are not included.
Such services will be provided at $65.00 per hour in thirty-minute
increments. The service fee increases to $95.00 per hour
for services rendered after March 16, 2007 and to $125.00
per hour for services rendered after the March 31, 2007
IRS filing deadline.
An
additional fee will be charged for each Extension of Time
filed with the IRS by your office: $100.00
for the first extension, $150.00 for the second extension
and $200.00 for the third extension and each extension thereafter.
