CFS Tax Software, Inc.

"Small Business and Work Opportunity Tax Act of 2007"
Last month President Bush signed into law H.R. 2206, which includes the following tax provisions under the lengthy subtitle "Small Business and Work Opportunity Tax Act of 2007":

Kiddie tax rules expanded to apply to children age 18 and children over age 18 but under age 24 who are full-time students, provided their earned income doesn't exceed one-half of the amount of their support;
IRC Sec. 179 limits expanded to $125,000 and $500,000 in taxable years after 2006;
Election to expense off-the-shelf-software under IRC Sec. 179 and election to revoke IRC Sec. 179 election without IRS consent extended until years beginning before 2011;
Work Opportunity Credit extended, with some changes;
Federal minimum wage to be increased to $7.25 over the next two years;
Tax preparer penalties made broader, amounts increased, and standards for avoiding penalties broadened;
Spousal partnership rules changed;
Minor changes made to corporate tax rules and S corporations;
Benefits for taxpayers and property located in a Gulf Opportunity Zone added and extended.

Please keep us informed of firm changes!
Have you recently made changes to the name, address, or phone number of your firm? If so, you need to let CFS know about it. Your firm information needs to be accurate and up-to-date so that you receive our mailings, so that we can notify you of program updates, and most importantly, so that your license code functions correctly to give you access to the programs you have purchased. (See this month's Tech Support Corner, below.)

The easiest way to update your firm information is to submit your changes online here. (This page is also available by going to www.taxtools.com, selecting MyCFS from the Support menu, and clicking on "Firm Name/Address Change" on the MyCFS page.) You can also fax changes to us at 805-522-0187. Please be sure to include your customer ID number.

We prefer to have firm changes in writing, but for simple changes such as updating or correcting a phone number or an e-mail address, or if you have any questions, please call our customer service department at 1-800-343-1157.

Tech Support Corner: Your License Code
Many of the calls we receive for technical support deal with license code issues. Although these calls are relatively quick and easy to solve, they collectively account for a considerable amount of our customers' time. License code issues generally fall into two categories: 1) the customer does not have the code, or 2) the code is not working. This article will explain how to obtain a license code and what to do if you encounter a problem while using the license code to install a program.

Obtaining a License Code
The license code you receive from CFS allows you to install working copies of the programs you have purchased. With the exception of the Fill-N-Print program, which has a four-character code, the license code consists of a combination of ten letters and/or numbers. In most cases, you will receive a single license code covering all of the CFS products you have purchased. (Exceptions are Fill-N-Print and Tax Research, which have their own separate codes.)

After your order is processed, you are sent a receipt containing your license code. If you are receiving a CD at this time, the receipt will be mailed to you; otherwise it will be e-mailed.

You can also obtain your license code at any time from our web site, www.taxtools.com. At the web site home page, click on "License Code Verification" under "QUICK LINKS." Enter your customer number and zip code. Your license codes for the current and previous years will be sent to the e-mail address we have on file for you.

License Code Problems
If you have your license code but the installation program rejects it, there are only a few possible causes:

The wrong information is being entered. The following information is used to calculate the license code, and you must enter it exactly as shown on your receipt: your customer number, firm name, zip code, and of course the license code itself. If you still get an error after checking this information, delete those items and reenter.
You are trying to install a program other than the one you are licensed for or a program for a different year. To check for this, cancel the installation and start over, checking that the correct program is selected and the license is for the correct year.
The problem is not the license code. If you are not specifically getting a message that says the license code or firm information is in error or missing, then the problem lies elsewhere.

You can find help for license code and other installation problems on our web site. Click on Support, Technical Support, then Frequently Asked Questions (FAQ).