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In this issue:

  • There's Still Time to Save
  • More Than Two Million ITINs Will Expire This Year
  • The Paycheck Withholding Calculator

There's Still Time to Save
Don't worry if you missed the May 31st deadline for spring renewal discounts. If you renew your CFS software by August 31st, you will still receive:

  • $5 off every program renewed early;
  • 20% off the first-time purchase of additional software or network upgrades; and
  • 15% off forms, envelopes, folders, and checks.

We'll be sending out summer renewal notices next month, but why wait? Renew online today!

More Than Two Million ITINs Will Expire This Year
In a recent media release, the IRS stated that more than two million ITINs are set to expire at the end of 2018, and that taxpayers should submit their renewal applications early to avoid the rush.

Taxpayers whose ITIN is expiring and who need to file a tax return in 2019 must submit a renewal application. Others do not need to take any action. ITINs with the middle digits 73, 74, 75, 76, 77, 81 or 82 (For example: 9NN-73-NNNN) need to be renewed even if the taxpayer has used it in the last three years.

ITINs that have previously expired, with middle digits of 70, 71, 72, 78, 79 or 80, should also be renewed.

Tax professionals should urge their clients with expiring ITINs to begin submitting renewal applications as soon as possible if they have a tax filing requirement next year.

For more information, see IR-2018-137.

The Paycheck Withholding Calculator
The Paycheck Withholding Calculator included in several CFS programs calculates either net pay from gross pay or gross pay from net pay. Calculations include federal, state, and local withholding, as well as social security and Medicare. After data has been initially entered, an "Update YTD" function can be used to increment YTD totals, payroll period dates, and pay date. You can print either the entire worksheet or just the employee's paycheck information.

You can generate a detailed pay stub by itemizing income and deduction items on a Detailed Input screen. Sick leave and vacation hours can also be entered; however, these entries must be manually updated each pay period. The Paycheck Withholding Calculator does not calculate accrued sick leave or vacation. (That feature is available in LivePayroll, along with the ability to print paychecks and process direct deposits.)

Pay Stub

The Paycheck Withholding Calculator is included in TaxTools, Small Business Tools, W-4 Calculator, and all Payroll System programs.

CFS Customer Service

2-for-1 Specials

TaxTools '18 & '19

Financial Planning Tools '18 & '19

Quick Reference Guide '18 & '19

CA 571 Preparer '18 & '19

MD Personal Property '18 & '19






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