Year-End
Processing Deadlines and Services Available:
- FIRE
(Filing Information Returns Electronically) Processing
~ Preparation for your firm's 2012 electronic
1099-S filing at the IRS Fire Web site (http://fire.irs.gov).
Your final data must be transmitted to the IRS by
April 1, 2013. (The deadline is February
28, 2013 for 1099-S paper filings.)
- Recipient
Forms ~ As an optional service, Standard Solutions
can produce your 1099-S forms for sellers. Seller
Recipient Forms must be postmarked by January
31, 2013. (This service is not included in the
YEP basic fee and only available if FIRE filing
service is being provided.)
Basic
Fee and Sign-up Deadline:
Deadlines
are a necessity IRS deadlines must be met,
and our deadlines allow 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 2013
IRS 1099-S FIRE Filing is $420.00.
The
Basic Fee is discounted to $385.00 if you mail your
payment with your sign-up form by Friday,
November 30, 2012. You must mail
the completed paper
sign-up form to us before the final sign-up
deadline of Friday, December 14, 2012.
You
can print the sign-up form using the link at the
bottom of this page.
- The
Basic Fee applies individually to separate law firms
or title companies at the same location. (Separate
setup, processing and reports are required for each
entity.)
- The
Basic Fee applies individually to separate Standard
Conveyancer installations at separate offices
of the same firm. (Separate setup, processing and
reports are required for each office.) There are
no separate fees for remote offices that connect
to a single, central Standard Conveyancer
server.
- Where
a firm has merged or split mid-year, 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.) If you need a new TCC
number, you must submit form 4419 at least 45
days prior to the electronic filing deadline.
You will need to apply for a TCC number if your
firm is new or has had a name change, or if you
cannot find the number you have used in the past.
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 repeated follow-up calls are the main reason
the service time allotment is exceeded and additional
expenses are incurred. Timely response to our 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 by e-mail 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 a final data file in the electronic format required
by the IRS.
- Delivery
of the final data file to your firm. The actual
upload to the IRS (testing and final) must be done
by your firm. (At the FIRE
Web site, you are required 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. File transfer
testing at the IRS Fire test site (https://test.fire.irs.gov)
may be done between November 1st and February 15th.
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 4, 2013 (this depends
on your data being complete and accurate), or $2.00
per form if started thereafter.
- 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).
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.
If
errors in your data are discovered after the preparation
of your final data file, the charge to generate a
new final data file is $35.00.
Services
rendered beyond the initial two hours 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 15th, and to $125.00 per hour
for services rendered after the March 31st 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.