Disbanding Tax Forms 2021 vs. 2022
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Disbanding Tax Forms 2021 vs. 2022 Hello, We disbanded club in 11/22; and completed our tax return/Kforms etc. per instructions. However, the tax return reads as a 2021 form (even tho calendar dates on forms are correct ie: 12/31/2021 thru 11/15/2022). Some members have reservations of filing their K1's with them reading 2021. Do you recommned we file an updated return with the correct 2022 forms? When will 2022 tax forms be available? The IRS has not finalized the 2022 tax year forms yet. The bivio 2022 tax software will be available in mid-February. When a club files a partial-year return, the returns are filed on the prior-year (2021) forms. You do not have to refile and your members have no need for concern about the 2021 date printed on the forms. Becky Kruse bivio File the returns on the 2021 forms. The period dates of 12/31/22 through 11/15/22 are the dates the IRS will use. IRS rules state to use the "prior" year forms (in this case, 2021) until the 2022 forms are available. The IRS has recently released the final version of the 2022 forms, but software companies are just beginning to incorporate them in their software products. The IRS receives thousands, if not millions of returns, each year which are submitted on the previous year forms. It's nothing unusual for them. Ira Smilovitz, EA Hello, Whatever your most comfortable with.
Thank you. Sent from the all new AOL app for iOS On Wednesday, January 4, 2023, 4:46 PM, ira smilovitz via bivio.com <user*2883400001@bivio.com> wrote: File the returns on the 2021 forms. The period dates of 12/31/22 through 11/15/22 are the dates the IRS will use. IRS rules state to use the "prior" year forms (in this case, 2021) until the 2022 forms are available. The IRS has recently released the final version of the 2022 forms, but software companies are just beginning to incorporate them in their software products. The IRS receives thousands, if not millions of returns, each year which are submitted on the previous year forms. It's nothing unusual for them. Ira Smilovitz, EA Hello, Got it. Sent from the all new AOL app for iOS On Wednesday, January 4, 2023, 4:46 PM, ira smilovitz via bivio.com <user*2883400001@bivio.com> wrote: File the returns on the 2021 forms. The period dates of 12/31/22 through 11/15/22 are the dates the IRS will use. IRS rules state to use the "prior" year forms (in this case, 2021) until the 2022 forms are available. The IRS has recently released the final version of the 2022 forms, but software companies are just beginning to incorporate them in their software products. The IRS receives thousands, if not millions of returns, each year which are submitted on the previous year forms. It's nothing unusual for them. Ira Smilovitz, EA Hello, |
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