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Custom FoldersIn this issue:

  • Form 5500-EZ
  • Do we have your current address?
  • Don't forget to download and install your software!
  • March is the time to order W4 Calculator!

Form 5500-EZ
Form 5500-EZ, Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan, is included in both CFS TaxTools and Small Business Tools. Previously, the Department of Labor (DOL) managed this form, but the IRS is now responsible for it. The IRS has not yet released the 2009 version of Form 5500-EZ. We will update TaxTools and Small Business Tools as soon as it becomes available.

Do we have your current address?
Spring is here! We will soon be sending out renewal notices in the mail, and, if past years are any indication, we can expect a good many of them to come back to us because of incorrect addresses. Often, this is the only way we find out that a customer has moved.

It's easy to notify us of a change of address. Just log in to your MyCFS account and select "Name/Address Change," or click here. Or, if you prefer, you can fax your change of address to 805-522-0187 or e-mail it to

Don't let an incorrect address keep you from receiving your software and supplies on time or prevent you from getting a discount!

Don't forget to download and install your software!
Remember—if you requested the "no CD" shipping option, you will not receive a CD, so don't forget to download and install your purchased CFS software! The following 2010 CFS programs have been released and are ready to download:

  • CA 571 Preparer
  • CA Sales Tax Preparer
  • Financial Planning Tools
  • MD Personal Property
  • NY Sales Tax Preparer
  • Payroll System (941/940 and LivePayroll)
  • Quick Reference Guide
  • Small Business Tools
  • Tax Corresponder
  • TaxTools
  • W4 Calculator

To download the programs you have purchased, follow these simple steps:

  1. Make sure you have your license code. It will be on the receipt that was e-mailed to you at the time of purchase, or you can obtain it online at (You will need to provide your e-mail address and MyCFS password.)
  2. Download any programs you have purchased at (You will need to provide your Customer ID and zip code.)
  3. Follow the instructions at the top of the "Download CFS Software" page to download and install your software.

We will e-mail you when programs and updates are available for download. You can also keep informed by checking the "News and Updates" section on our home page at

W4 CalculatorMarch is the time to order W4 Calculator!
Do you own CFS W4 Calculator? If so, now is a good time to use it. If not, now is a good time to buy it. The following provisions of the American Recovery & Reinvestment Act of 2009 will continue to affect taxpayers' withholding in 2010:

  • Making Work Pay Credit
  • First-time Homebuyer Credit
  • Increased Earned Income Credit

For example:
For married couples who both work (subject to a $150K-190K phaseout), total withholding may decrease by up to $1,600. However, their total Making Work Pay credit is only $800. You may need to adjust the number of withholding allowances to ensure that they are not underwithheld.

Furthermore, in our current troubled economy, factors such as unemployment compensation, loan modifications, cancellation of debt, and early 401(k) distributions may also cause your clients to be underwithheld. And with some states delaying taxpayers' refund checks to cope with budget crises, overwithholding can be just as bad.

Tax season is always a good time to review your clients' withholding allowances. CFS W4 Calculator, updated for all recent tax law changes, takes the guesswork out of determining the correct number of withholding allowances to ensure that your clients are neither over- nor underwithheld.

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