Tax forms
The club natives are getting restless. Any word on when the tax forms will be ready?
Norman,
You need to educate the "natives" that club K-1s won't be available until March 1. Then when you have them ready on Feb. 25 (or so) they will thank you for being early
Dave Swierenga
A club treasurer for many years and understand where you are coming from
On Saturday, February 6, 2021, 1:00:22 AM CST, Norman Gee via bivio.com <user*125100001@bivio.com> wrote:
The club natives are getting restless. Any word on when the tax forms will be ready?
Why the March 1 date? Every year I'm ready to get my taxes done with the exception of K-1 from my investment club?
Sent from my iPhone
On Feb 6, 2021, at 9:52 AM, Dave Swierenga via bivio.com <user*18887000001@bivio.com> wrote:
Norman,You need to educate the "natives" that club K-1s won't be available until March 1. Then when you have them ready on Feb. 25 (or so) they will thank you for being earlyDave SwierengaA club treasurer for many years and understand where you are coming fromOn Saturday, February 6, 2021, 1:00:22 AM CST, Norman Gee via bivio.com <user*125100001@bivio.com> wrote:The club natives are getting restless. Any word on when the tax forms will be ready?
That really puts us in a bind too, especially this year with COVID restrictions. We{ve asked for audit Feb. 23rd'' '26th.
Why the March 1 date? Every year I'm ready to get my taxes done with the exception of K-1 from my investment club?Sent from my iPhoneOn Feb 6, 2021, at 9:52 AM, Dave Swierenga via bivio.com <user*18887000001@bivio.com> wrote:Norman,You need to educate the "natives" that club K-1s won't be available until March 1. Then when you have them ready on Feb. 25 (or so) they will thank you for being earlyDave SwierengaA club treasurer for many years and understand where you are coming fromOn Saturday, February 6, 2021, 1:00:22 AM CST, Norman Gee via bivio.com <user*125100001@bivio.com> wrote:The club natives are getting restless. Any word on when the tax forms will be ready?
You say March 1 so you have time to get them completed once Bivio has everything ready.
"Under promise and over-deliver".
"Exceed expectations"
If you say Feb XX they will be expected by club members by that date or earlier so you'll be under pressure to deliver.
Bob Mann
On 02/06/2021 10:37 AM Candy McKnight via bivio.com <user*24530200001@bivio.com> wrote:Why the March 1 date? Every year I'm ready to get my taxes done with the exception of K-1 from my investment club?
Sent from my iPhone
On Feb 6, 2021, at 9:52 AM, Dave Swierenga via bivio.com <user*18887000001@bivio.com> wrote:
Norman,You need to educate the "natives" that club K-1s won't be available until March 1. Then when you have them ready on Feb. 25 (or so) they will thank you for being earlyDave SwierengaA club treasurer for many years and understand where you are coming fromOn Saturday, February 6, 2021, 1:00:22 AM CST, Norman Gee via bivio.com <user*125100001@bivio.com> wrote:The club natives are getting restless. Any word on when the tax forms will be ready?
Another reason to delay is that brokerages often send out amended 1099's in mid-February. You don't want to have to prepare your K-1's twice.
Barbara
On Feb 6, 2021, at 8:12 AM, Bob Mann via bivio.com <user*12614800001@bivio.com> wrote:You say March 1 so you have time to get them completed once Bivio has everything ready."Under promise and over-deliver"."Exceed expectations"If you say Feb XX they will be expected by club members by that date or earlier so you'll be under pressure to deliver.Bob MannOn 02/06/2021 10:37 AM Candy McKnight via bivio.com <user*24530200001@bivio.com> wrote:Why the March 1 date? Every year I'm ready to get my taxes done with the exception of K-1 from my investment club?
Sent from my iPhone
On Feb 6, 2021, at 9:52 AM, Dave Swierenga via bivio.com <user*18887000001@bivio.com> wrote:
Norman,You need to educate the "natives" that club K-1s won't be available until March 1. Then when you have them ready on Feb. 25 (or so) they will thank you for being earlyDave SwierengaA club treasurer for many years and understand where you are coming fromOn Saturday, February 6, 2021, 1:00:22 AM CST, Norman Gee via bivio.com <user*125100001@bivio.com> wrote:The club natives are getting restless. Any word on when the tax forms will be ready?
I received my 1099s today, when will the tax software become
available?
available?
From my understanding, the IRS has to approve all tax prep programs before they are released. We have to wait for them to clear it.
Another reason to delay is that brokerages often send out amended 1099's in mid-February. You don't want to have to prepare your K-1's twice.BarbaraOn Feb 6, 2021, at 8:12 AM, Bob Mann via bivio.com <user*12614800001@bivio.com> wrote:You say March 1 so you have time to get them completed once Bivio has everything ready."Under promise and over-deliver"."Exceed expectations"If you say Feb XX they will be expected by club members by that date or earlier so you'll be under pressure to deliver.Bob MannOn 02/06/2021 10:37 AM Candy McKnight via bivio.com <user*24530200001@bivio.com> wrote:Why the March 1 date? Every year I'm ready to get my taxes done with the exception of K-1 from my investment club?
Sent from my iPhone
On Feb 6, 2021, at 9:52 AM, Dave Swierenga via bivio.com <user*18887000001@bivio.com> wrote:
Norman,You need to educate the "natives" that club K-1s won't be available until March 1. Then when you have them ready on Feb. 25 (or so) they will thank you for being earlyDave SwierengaA club treasurer for many years and understand where you are coming fromOn Saturday, February 6, 2021, 1:00:22 AM CST, Norman Gee via bivio.com <user*125100001@bivio.com> wrote:The club natives are getting restless. Any word on when the tax forms will be ready?
Candy, a treasurer needs three things in order to prepare the club tax returns:
1. A 1099 from the broker
2. Bivio to release the tax preparation software with all updates necessitated by laws changed by Congress in the prior year,
3. And personal time as a volunteer to dedicate to preparation of both the federal and state returns carefully, make copies, take them to the post office to mail certified, address envelopes and mail K-1s to members.
In my case, Schwab is projecting that the club's 1099 will be available 19 Feb. I don't know when bivio will release the tax preparation program, but it has always left adequate time to meet the 15 March deadline. If you have more free time than your treasurer, perhaps you should volunteer to perform the duties next year.
Jack Ranby
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Candy McKnight via bivio.com
Sent: Saturday, 6 February, 2021 08:38
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Tax forms
Why the March 1 date? Every year I'm ready to get my taxes done with the exception of K-1 from my investment club?
Sent from my iPhone
On Feb 6, 2021, at 9:52 AM, Dave Swierenga via bivio.com <user*18887000001@bivio.com> wrote:

Norman,
You need to educate the "natives" that club K-1s won't be available until March 1. Then when you have them ready on Feb. 25 (or so) they will thank you for being early
Dave Swierenga
A club treasurer for many years and understand where you are coming from
On Saturday, February 6, 2021, 1:00:22 AM CST, Norman Gee via bivio.com <user*125100001@bivio.com> wrote:
The club natives are getting restless. Any word on when the tax forms will be ready?
I was a club treasurer for over 20 years I have found it's is best to tell the members not to expect the K-1's before their due date, which I believe is March 15th. If you can get it to them earlier, that's great.
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of John Rice via bivio.com
Sent: Saturday, February 6, 2021 10:48 AM
To: club_cafe@bivio.com
Cc: Barbara Lounsbury <barbara@5siegels.com>; Candy McKnight via bivio.com <user*24530200001@bivio.com>
Subject: Re: [club_cafe] Tax forms
From my understanding, the IRS has to approve all tax prep programs before they are released. We have to wait for them to clear it.
On Sat, Feb 6, 2021, 8:30 AM BarbaraLounsbury via bivio.com <user*29435100001@bivio.com> wrote:
Another reason to delay is that brokerages often send out amended 1099's in mid-February. You don't want to have to prepare your K-1's twice.
Barbara
On Feb 6, 2021, at 8:12 AM, Bob Mann via bivio.com <user*12614800001@bivio.com> wrote:
You say March 1 so you have time to get them completed once Bivio has everything ready.
"Under promise and over-deliver".
"Exceed expectations"
If you say Feb XX they will be expected by club members by that date or earlier so you'll be under pressure to deliver.
Bob Mann
On 02/06/2021 10:37 AM Candy McKnight via bivio.com <user*24530200001@bivio.com> wrote:
Why the March 1 date? Every year I'm ready to get my taxes done with the exception of K-1 from my investment club?
Sent from my iPhone
On Feb 6, 2021, at 9:52 AM, Dave Swierenga via bivio.com <user*18887000001@bivio.com> wrote:
Norman,
You need to educate the "natives" that club K-1s won't be available until March 1. Then when you have them ready on Feb. 25 (or so) they will thank you for being early
Dave Swierenga
A club treasurer for many years and understand where you are coming from
On Saturday, February 6, 2021, 1:00:22 AM CST, Norman Gee via bivio.com <user*125100001@bivio.com> wrote:
The club natives are getting restless. Any word on when the tax forms will be ready?
Each year the Congress makes changes to tax legislation on Congress' timeline. After Congress finalizes legislation, the IRS has to prepare forms and update instructions. Once complete, IRS releases the forms and Bivio has to code.
Bivio will never release Tax package until mid February. Tell your members. If they cannot accept the timeline, they should leave the club. And yes, I once had a partner resign over this issue (mid -late Feb receipt of tax forms from club).
Best, Irina
On Feb 6, 2021, at 11:48 AM, John Rice via bivio.com <user*24380400001@bivio.com> wrote:
From my understanding, the IRS has to approve all tax prep programs before they are released. We have to wait for them to clear it.Another reason to delay is that brokerages often send out amended 1099's in mid-February. You don't want to have to prepare your K-1's twice.BarbaraOn Feb 6, 2021, at 8:12 AM, Bob Mann via bivio.com <user*12614800001@bivio.com> wrote:You say March 1 so you have time to get them completed once Bivio has everything ready."Under promise and over-deliver"."Exceed expectations"If you say Feb XX they will be expected by club members by that date or earlier so you'll be under pressure to deliver.Bob MannOn 02/06/2021 10:37 AM Candy McKnight via bivio.com <user*24530200001@bivio.com> wrote:Why the March 1 date? Every year I'm ready to get my taxes done with the exception of K-1 from my investment club?
Sent from my iPhone
On Feb 6, 2021, at 9:52 AM, Dave Swierenga via bivio.com <user*18887000001@bivio.com> wrote:
Norman,You need to educate the "natives" that club K-1s won't be available until March 1. Then when you have them ready on Feb. 25 (or so) they will thank you for being earlyDave SwierengaA club treasurer for many years and understand where you are coming fromOn Saturday, February 6, 2021, 1:00:22 AM CST, Norman Gee via bivio.com <user*125100001@bivio.com> wrote:The club natives are getting restless. Any word on when the tax forms will be ready?
I would add a 4th!Tthe need to allow time for the meeting of the Audit Committee!
Candy, a treasurer needs three things in order to prepare the club tax returns:
1. A 1099 from the broker
2. Bivio to release the tax preparation software with all updates necessitated by laws changed by Congress in the prior year,
3. And personal time as a volunteer to dedicate to preparation of both the federal and state returns carefully, make copies, take them to the post office to mail certified, address envelopes and mail K-1s to members.
In my case, Schwab is projecting that the club's 1099 will be available 19 Feb. I don't know when bivio will release the tax preparation program, but it has always left adequate time to meet the 15 March deadline. If you have more free time than your treasurer, perhaps you should volunteer to perform the duties next year.
Jack Ranby
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Candy McKnight via bivio.com
Sent: Saturday, 6 February, 2021 08:38
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Tax forms
Why the March 1 date? Every year I'm ready to get my taxes done with the exception of K-1 from my investment club?
Sent from my iPhone
On Feb 6, 2021, at 9:52 AM, Dave Swierenga via bivio.com <user*18887000001@bivio.com> wrote:

Norman,
You need to educate the "natives" that club K-1s won't be available until March 1. Then when you have them ready on Feb. 25 (or so) they will thank you for being early
Dave Swierenga
A club treasurer for many years and understand where you are coming from
On Saturday, February 6, 2021, 1:00:22 AM CST, Norman Gee via bivio.com <user*125100001@bivio.com> wrote:
The club natives are getting restless. Any word on when the tax forms will be ready?
Each year, Congress and state legislatures adopt changes to the tax laws. Many of these changes are enacted at the end of the year which means that the IRS and state tax departments have to make last minute changes to forms and instructions. bivio can't release its tax program until it receives the changes, incorporates the changes into its programs and receives approval from the tax authorities that its programs meet the requirements the authorities have set. On Thursday, February 4, the IRS just issued the latest DRAFT version of the instructions for preparing Form 1065 and the Partners' Instructions for Schedule K-1. Only the IRS knows when it will issue the final versions.
Be patient.
Ira Smilovitz, EA
I would add a 4th!Tthe need to allow time for the meeting of the Audit Committee!Candy, a treasurer needs three things in order to prepare the club tax returns:
1. A 1099 from the broker
2. Bivio to release the tax preparation software with all updates necessitated by laws changed by Congress in the prior year,
3. And personal time as a volunteer to dedicate to preparation of both the federal and state returns carefully, make copies, take them to the post office to mail certified, address envelopes and mail K-1s to members.
In my case, Schwab is projecting that the club's 1099 will be available 19 Feb. I don't know when bivio will release the tax preparation program, but it has always left adequate time to meet the 15 March deadline. If you have more free time than your treasurer, perhaps you should volunteer to perform the duties next year.
Jack Ranby
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Candy McKnight via bivio.com
Sent: Saturday, 6 February, 2021 08:38
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Tax forms
Why the March 1 date? Every year I'm ready to get my taxes done with the exception of K-1 from my investment club?
Sent from my iPhone
On Feb 6, 2021, at 9:52 AM, Dave Swierenga via bivio.com <user*18887000001@bivio.com> wrote:

Norman,
You need to educate the "natives" that club K-1s won't be available until March 1. Then when you have them ready on Feb. 25 (or so) they will thank you for being early
Dave Swierenga
A club treasurer for many years and understand where you are coming from
On Saturday, February 6, 2021, 1:00:22 AM CST, Norman Gee via bivio.com <user*125100001@bivio.com> wrote:
The club natives are getting restless. Any word on when the tax forms will be ready?
I do not understand the pressure that comes every year to file the returns. Personal returns are not due until April 15. Partnership returns are due 3/15, but one can always get an extension. It is like keystone cops. One would think if the returns are not done immediately the world will implode.
Peter Dunkelberger
I would add a 4th!Tthe need to allow time for the meeting of the Audit Committee!Candy, a treasurer needs three things in order to prepare the club tax returns:
1. A 1099 from the broker
2. Bivio to release the tax preparation software with all updates necessitated by laws changed by Congress in the prior year,
3. And personal time as a volunteer to dedicate to preparation of both the federal and state returns carefully, make copies, take them to the post office to mail certified, address envelopes and mail K-1s to members.
In my case, Schwab is projecting that the club's 1099 will be available 19 Feb. I don't know when bivio will release the tax preparation program, but it has always left adequate time to meet the 15 March deadline. If you have more free time than your treasurer, perhaps you should volunteer to perform the duties next year.
Jack Ranby
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Candy McKnight via bivio.com
Sent: Saturday, 6 February, 2021 08:38
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Tax forms
Why the March 1 date? Every year I'm ready to get my taxes done with the exception of K-1 from my investment club?
Sent from my iPhone
On Feb 6, 2021, at 9:52 AM, Dave Swierenga via bivio.com <user*18887000001@bivio.com> wrote:

Norman,
You need to educate the "natives" that club K-1s won't be available until March 1. Then when you have them ready on Feb. 25 (or so) they will thank you for being early
Dave Swierenga
A club treasurer for many years and understand where you are coming from
On Saturday, February 6, 2021, 1:00:22 AM CST, Norman Gee via bivio.com <user*125100001@bivio.com> wrote:
The club natives are getting restless. Any word on when the tax forms will be ready?
It would be the IRS to finalize it on March 14 with it due on the 15th.
On Sat, Feb 6, 2021 at 10:06 AM Peter Dunkelberger via bivio.com <user*26984900001@bivio.com> wrote:
I do not understand the pressure that comes every year to file the returns. Personal returns are not due until April 15. Partnership returns are due 3/15, but one can always get an extension. It is like keystone cops. One would think if the returns are not done immediately the world will implode.Peter DunkelbergerI would add a 4th!Tthe need to allow time for the meeting of the Audit Committee!Candy, a treasurer needs three things in order to prepare the club tax returns:
1. A 1099 from the broker
2. Bivio to release the tax preparation software with all updates necessitated by laws changed by Congress in the prior year,
3. And personal time as a volunteer to dedicate to preparation of both the federal and state returns carefully, make copies, take them to the post office to mail certified, address envelopes and mail K-1s to members.
In my case, Schwab is projecting that the club's 1099 will be available 19 Feb. I don't know when bivio will release the tax preparation program, but it has always left adequate time to meet the 15 March deadline. If you have more free time than your treasurer, perhaps you should volunteer to perform the duties next year.
Jack Ranby
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Candy McKnight via bivio.com
Sent: Saturday, 6 February, 2021 08:38
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Tax forms
Why the March 1 date? Every year I'm ready to get my taxes done with the exception of K-1 from my investment club?
Sent from my iPhone
On Feb 6, 2021, at 9:52 AM, Dave Swierenga via bivio.com <user*18887000001@bivio.com> wrote:

Norman,
You need to educate the "natives" that club K-1s won't be available until March 1. Then when you have them ready on Feb. 25 (or so) they will thank you for being early
Dave Swierenga
A club treasurer for many years and understand where you are coming from
On Saturday, February 6, 2021, 1:00:22 AM CST, Norman Gee via bivio.com <user*125100001@bivio.com> wrote:
The club natives are getting restless. Any word on when the tax forms will be ready?