electronic filing
I just got this message from our president:
"AZ is requiring electronic filing starting with this tax year(?) unless one obtains a waiver. Does BIVIO provide such options and how much?
We have always mailed in our returns. How do we do it electronically?
Thanks,
Dorothy Meunier
We have not filed an AZ return. This is based on ARIZONA Form
165. It states "Note: A partnership that has no Arizona income,
deductions or credits for taxable year 2019 is not rrequired to file
a partnership return for that year".
My take on this is the K-1 information feeds from the Fed return
to the AZ return. If you read it differently please let me know.
480 649 7510
On February 18, 2020 at 5:29 PM "Dorothy Meunier via bivio.com" <user*23103200001@bivio.com> wrote:
I just got this message from our president:"AZ is requiring electronic filing starting with this tax year(?) unless one obtains a waiver. Does BIVIO provide such options and how much?"We have always mailed in our returns. How do we do it electronically?Thanks,Dorothy Meunier
For California taxes, BIVIO included this statement. California is one of few the states that BIVIO includes in the annual fees
eFile Waiver
Submit an eFile waiver using the link below with the information provided prior to, or up to 15 days after, filing your
California return.
https://www.ftb.ca.gov/tax-pros/efile/business-eFile-waiver-request.asp
Entity Information
Entity Type General Partnership
Form Type 565
Waiver Information
Software/Product Used bivio.com
Reason for Waiver Technology Constraints
Explanation
bivio.com is an accounting program for investment club
partnerships. It generates federal and CA partnership returns, but
does not provide e-file capabilities for any returns.
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Dorothy Meunier via bivio.com
Sent: Tuesday, February 18, 2020 2:29 PM
To: The Club Cafe <club_cafe@bivio.com>
Cc: Donna Portz <deeportz@gmail.com>
Subject: [club_cafe] electronic filing
I just got this message from our president:
"AZ is requiring electronic filing starting with this tax year(?) unless one obtains a waiver. Does BIVIO provide such options and how much?
"
We have always mailed in our returns. How do we do it electronically?
Thanks,
Dorothy Meunier
The K-1 is a personal form for filing personal taxes. Apparently you do not have to file an AZ partnership return if the partnership had no income that did not flow to the partners. Or, to put it in a more positive manner, you do not have to file an AZ partnership return if all of the partnership income flowed to the partners.
However, some states do require a filing if any of your partners are non residents of the state.
Peter Dunkelberger
Summer Stock Selectors Investment Club
We have not filed an AZ return. This is based on ARIZONA Form
165. It states "Note: A partnership that has no Arizona income,
deductions or credits for taxable year 2019 is not rrequired to file
a partnership return for that year".
My take on this is the K-1 information feeds from the Fed return
to the AZ return. If you read it differently please let me know.
480 649 7510
On February 18, 2020 at 5:29 PM "Dorothy Meunier via bivio.com" <user*23103200001@bivio.com> wrote:
I just got this message from our president:"AZ is requiring electronic filing starting with this tax year(?) unless one obtains a waiver. Does BIVIO provide such options and how much?"We have always mailed in our returns. How do we do it electronically?Thanks,Dorothy Meunier
This thread contains two separate topics.
1. Whether you need to file an AZ return. If the club has
one penny of income from any source, then you need to file
the AZ 165. If your club has not received any income from
any source, then it is still good practice to file the
return in order to start of the statute of limitations on
audits.
2. Re electronic filing. The requirement is for tax years
after 31 Dec 2019. In other words, the tax return for tax
year 2020 is the first year for the requirement. So you
don't need to worry about it in this filing season.
The instructions say it is possible to have the requirement
waived by petitioning the director.
A member of our club is a high-ranking employee of AZDOR. I
have asked him to explore getting the department to issue a
pre-emptory exemption for partnerships that do not engage in
business, which would cover investment clubs. If adopted, it
would eliminate the requirement for petitioning for an
exemption each year.
Because of the few clubs located in AZ, I doubt that it
would be cost-effective, or you would not like the increase
in annual fees, for bivio to create an e-file option for
AZ.
If the treasurers of AZ-based clubs would identify
themselves to me, I can use the information to organize
further lobbying with AZDOR to create the automatic
exemption.
1. Whether you need to file an AZ return. If the club has
one penny of income from any source, then you need to file
the AZ 165. If your club has not received any income from
any source, then it is still good practice to file the
return in order to start of the statute of limitations on
audits.
2. Re electronic filing. The requirement is for tax years
after 31 Dec 2019. In other words, the tax return for tax
year 2020 is the first year for the requirement. So you
don't need to worry about it in this filing season.
The instructions say it is possible to have the requirement
waived by petitioning the director.
A member of our club is a high-ranking employee of AZDOR. I
have asked him to explore getting the department to issue a
pre-emptory exemption for partnerships that do not engage in
business, which would cover investment clubs. If adopted, it
would eliminate the requirement for petitioning for an
exemption each year.
Because of the few clubs located in AZ, I doubt that it
would be cost-effective, or you would not like the increase
in annual fees, for bivio to create an e-file option for
AZ.
If the treasurers of AZ-based clubs would identify
themselves to me, I can use the information to organize
further lobbying with AZDOR to create the automatic
exemption.
|
On Tue, Feb 18, 2020 at 7:32 PM John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com> wrote:
This thread contains two separate topics.
1. Whether you need to file an AZ return. If the club has
one penny of income from any source, then you need to file
the AZ 165. If your club has not received any income from
any source, then it is still good practice to file the
return in order to start of the statute of limitations on
audits.
2. Re electronic filing. The requirement is for tax years
after 31 Dec 2019. In other words, the tax return for tax
year 2020 is the first year for the requirement. So you
don't need to worry about it in this filing season.
The instructions say it is possible to have the requirement
waived by petitioning the director.
A member of our club is a high-ranking employee of AZDOR. I
have asked him to explore getting the department to issue a
pre-emptory exemption for partnerships that do not engage in
business, which would cover investment clubs. If adopted, it
would eliminate the requirement for petitioning for an
exemption each year.
Because of the few clubs located in AZ, I doubt that it
would be cost-effective, or you would not like the increase
in annual fees, for bivio to create an e-file option for
AZ.
If the treasurers of AZ-based clubs would identify
themselves to me, I can use the information to organize
further lobbying with AZDOR to create the automatic
exemption.
Just to be clear, any investment club based in AZ must file AZ Form 165 each year if it has any income or expense. Clubs based outside of AZ which have AZ members are not required to file in AZ.
Ira Smilovitz, EA
On Tue, Feb 18, 2020 at 8:01 PM Laurie Frederiksen <laurie@bivio.biz> wrote:
If you need an Arizona state return filed electronically, we do offer a very cost effective option for preparing it. They can be done by Ira Smilovitz.
Here is more information:
Laurie Frederiksen
Invest with your friends!
www.bivio.com
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Click here to Subscribe to the Club Cafe email list. Click here to UnsubscribeOn Tue, Feb 18, 2020 at 7:32 PM John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com> wrote:This thread contains two separate topics.
1. Whether you need to file an AZ return. If the club has
one penny of income from any source, then you need to file
the AZ 165. If your club has not received any income from
any source, then it is still good practice to file the
return in order to start of the statute of limitations on
audits.
2. Re electronic filing. The requirement is for tax years
after 31 Dec 2019. In other words, the tax return for tax
year 2020 is the first year for the requirement. So you
don't need to worry about it in this filing season.
The instructions say it is possible to have the requirement
waived by petitioning the director.
A member of our club is a high-ranking employee of AZDOR. I
have asked him to explore getting the department to issue a
pre-emptory exemption for partnerships that do not engage in
business, which would cover investment clubs. If adopted, it
would eliminate the requirement for petitioning for an
exemption each year.
Because of the few clubs located in AZ, I doubt that it
would be cost-effective, or you would not like the increase
in annual fees, for bivio to create an e-file option for
AZ.
If the treasurers of AZ-based clubs would identify
themselves to me, I can use the information to organize
further lobbying with AZDOR to create the automatic
exemption.