Not a subscriber? Click here to sign up!
In this issue:
- Have You Renewed Your Software, Forms, and Supplies?
- Some 2020 Programs Are Available Now
- 940 Update Has Been Posted
- 2020 W4 Calculator
- Have You Updated Your License Code for W2/1099?
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 2020 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 2020 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 2019 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 states: "For 2019, the U.S. Virgin Islands (USVI) is the only credit reduction state. If you paid any wages that are subject to the unemployment compensation laws of the USVI, your credit against federal unemployment tax will be reduced based on the credit reduction rate for the USVI. Use Schedule A (Form 940) to figure the credit reduction. For more information, see the Schedule A (Form 940) instructions or visit IRS.gov." (2019 Instructions for Form 940.)
2020 W4 Calculator
Our 2020 W4 Calculator has been completely revamped to handle the new Form W-4 and up to four jobs per taxpayer.
W4 Calculator helps your clients "break even," plan for a desired refund or payment, or make mid-year adjustments. It generates Forms W-4, W-4P, W-4V, 1040-ES, and 540-ES. In addition, it calculates state withholding allowances for Arizona, California, Illinois, New Jersey, New York, North Carolina, Ohio, Oregon, South Carolina, and Virginia, and generates state withholding allowance forms for each of those states. It includes our Paycheck Withholding Calculator, Invoice Generator, and Label Maker, and imports clients and preparers from other CFS programs and major tax preparation programs.
The 2020 W4 Calculator is available now. For a demonstration of how it works, watch this Instructional Video. To order, click here.
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 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.
Happy Holidays from CFS!
To contact us, please click here. To unsubscribe from this service,
type "unsubscribe from enews" in the Comment field.