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In this issue:
- Have You Renewed Your Software, Forms, and Supplies?
- Some 2019 Programs Are Available Now
- 940 Update Has Been Posted
- Have You Updated Your License Code for W2/1099?
- Beware of BEC/BES Scams
- Technical Support Options
Have You Renewed Your Software, Forms, and Supplies?
If not, why not? Tax season is just around the corner—don't be caught unprepared. Furthermore, you may be eligible for a business expense deduction if you order by December 31st.
With your MyCFS account, it's easy to renew online. You can also use your MyCFS account to:
Some 2019 Programs Are Available Now
Although the official release dates are in January and CDs won't be mailed until then, we generally release several programs before the first of the year. TaxTools, Payroll System (941/940, LivePayroll, Payroll Corrector), W4 Calculator, and Tax Corresponder are usually posted for download by mid-December. If you have purchased one or more of the above programs and would like to get an early start installing them and entering data, click here for our download page.
If you have not yet purchased your 2019 software and would like to do so, click here to renew online.
940 Update Has Been Posted
A Payroll System update containing Form 940 was posted this month. Payroll System users who have not already done so can download the update automatically from within 2018 Payroll System, or manually from the Payroll System Updates page on our web site. As always, we will mail an update CD to 941/940 and LivePayroll users who purchased update CD service.
Credit Reduction State. "For 2018, there is one credit reduction state (U.S. Virgin Islands). If you paid any wages that are subject to the unemployment compensation laws of a credit reduction state, your credit against federal unemployment tax will be reduced based on the credit reduction rate for that credit reduction state. Use Schedule A (Form 940) to figure the credit reduction. For more information, see the Schedule A (Form 940) instructions or visit IRS.gov." (2018 Instructions for Form 940.)
Have You Updated Your License Code for W2/1099?
This time of year, we receive many calls from frustrated W2/1099 users who cannot access the program, simply because they have not updated their license code. Remember—your license code is based on your firm name, address, and the programs you have purchased. If, like many of our customers, you purchased W2/1099 months after you purchased your other CFS programs, the license code you received when you purchased those other programs will not work for W2/1099. You must use the new license code you received when you purchased W2/1099.
You can look up your license code online using your MyCFS account. It is also displayed beneath the instructions when you download software from our Download CFS Software page. To change your license code in the program:
- Open CFS Payroll System.
- Click on the File drop-down menu at the upper left corner of the screen.
- Click on Firm Information...
- Enter your new license code in the License Code field.
- Click OK.
Beware of BEC/BES Scams
In a recent news release, the IRS and its Security Summit partners warn tax professionals of an increase in "business email compromise/business email spoofing" (BEC/BES) phishing scams.
These emails generally impersonate a company employee, often an executive, and are sent to payroll or human resources personnel. The email from the "employee" asks the payroll or human resource staff to change his or her direct deposit for payroll purposes. The "employee" provides a new bank account and routing number, but it is actually controlled by the thief. This scam is usually discovered pretty quickly, but not before the victim has lost one or two payroll deposits.
In another verson of the BEC/BES scam, the emails impersonate a company executive and are sent to the company employee responsible for wire transfers. The email requests that a wire transfer be made to a specific account that is controlled by the thief. Companies that fall victim to this scam can lose tens of thousands of dollars.
Of particular concern to tax professionals is the W-2 scam:
This involves an email impersonating an executive or person in authority, which requests a list of the organization’s Forms W-2 covering all of its employees. The purpose of this scam is to allow thieves to quickly file fraudulent tax returns for refunds.
For more information, including examples of BEC/BES emails, see IR-2018-253.
Technical Support Options
As we head into our busy season, remember that our toll-free number, (800) 343-1157, is only one of several ways you can obtain technical assistance. Others include:
- Frequently Asked Questions. Click the FAQ button under "Quick Links" on our home page to view a knowledge base containing detailed solutions to many common technical support issues.
- Instructional Videos. The Instructional Videos page is available from the Support menu at taxtools.com or from a link in the Help menu of most CFS programs. These brief videos can assist you with downloading and updating software and performing specific tasks in CFS programs.
- Online Chat. Click the Chat with Technical Support link on our home page to open a text-based chat session with a technical support representative. The service is available during normal business hours; at other times you will be given the option of e-mailing your question.
- Online Tech Support Request. Under the "Internet Options" menu of most of our programs, select "CFS Tech Support Request..." to fill in an online form detailing your problem. Your request will be answered by e-mail or phone within one business day. The Technical Support Request form can also be accessed from the Technical Support page of our web site.
Happy Holidays from CFS!
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