Tax filing for 2014. FBAR and all the other fun.

[skatewash]

We're actually due a refund, but I never could figure out how to finagle TaxAct to apply it to 2015 taxes. Looks like a refund or buying U.S. gov't bonds or some other stupid refund option is the only option. I know the Feds will direct deposit it OK, but I'd just as soon leave it with the IRS, rather than having to set up quarterly payments again.

From TaxAct Help: https://www.taxactonline.com/s_online_tax2014/help/index.asp?t=1429098405822&searchCopy=how%20to%20apply%20refund%20to%20next%20year%20taxes&hidden_cur_script=IV_USStep1_Q1&loc=2

Estimated Tax Payments - Electronic Funds Withdrawal

If you electronically file your 2014 tax return, you can use EFW to make up to four (4) 2015 estimated tax payments. This is a free option. The payments can be withdrawn from either a checking or savings account. At the same time you file your return, you can schedule estimated tax payments for any or all of the following dates: April 15, June 15, September 15, and January 15 of the following year.

To set up estimated tax payments to go toward next year's tax liability using the TaxACT program:

1. Click on the Federal Q&A tab
2. Click 2015 Estimated Tax Payments
3. Click Yes to review the requirements for making estimated tax payments
4. If your return currently shows a Federal refund amount, the first screen will allow you to apply that refund to next year's tax liability.
5. The program will proceed with the interview questions for you to enter or review the information regarding your estimated tax payments.

NOTE: If you enter information to make estimated tax payments by electronic funds withdrawal while going through the Q&A interview questions, you must still mark each box to verify the quarterly payments when going through the electronic filing steps.

If you prefer not to use EFW to make your payments, or if you have already filed and would like to make electronic estimated tax payments online, see the Related Links for information on making payments using the Electronic Federal Tax Payment System (EFTPS) or IRS Direct Pay.

Call IRS e-file Payment Services at 1-888-353-4537 to inquire about or cancel a payment. Cancellation requests must be received no later than 11:59 p.m. ET two business days prior to the scheduled payment date.

[skatewash]

The above provided link doesn't work correctly. Sorry. But you can get to the help information in TaxAct by logging into your return and typing

Estimated Tax Payments Electronic Funds Withdrawal

in the the following search box (rightmost column on the screen, half way down):

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The first Best Answer to this search request is the one you want:

• FAQ - Estimated Tax Payments - Electronic Funds Withdrawal

[connda]

I wouldn't waste my time filling in the FinCen114 data using whatever tax software you use. I use TaxAct software. Now I still click a few blocks in my tax software saying yea I know I need to submit a FinCen114 and will fill it out separately versus typing all the info into my tax software.

The reason I say don't waste your time is because you'll just need to "retype the info into the FinCen114 PDF form" which is uploaded/transmitted....I expect the U.S. Treasury computers are setup to automatically extract the data from "their" PDF form and not any other form made by a third party like TaxAct, TurboTax, etc. I figured I would just fill out the data once by only filling out the FinCen114 PDF form.

Also, last year's and this year's FinCen114 form was the same version (Ver 1.0)...if it's the same version next year just update your FinCen114 from this year and resubmit for next year. Unless a person is opening and closing bank accounts throughout the year like maybe some short term fixed accounts, about the only data you need to update is the amounts versus entering all your personal info and bank(s) addresses, etc.

I stopped completing the FBAR form in my tax software once you could no longer mail in the form and needed to use the FinCen114 form instead along with online submission only, which started last year.

Also, last year's and this year's FinCen114 form was the same version (Ver 1.0)...if it's the same version next year just update your FinCen114 from this year and resubmit for next year.

The FinCen114 is Ver 1.0, but if you compare forms from last year and this year, they are different. There are more pages on this year's form due to some 'white space' that added to one of the pages. Don't know if that will complicate their ability to pull data out of your PDF if you choose to file with last years PDF form. Just saying.....

When uploading the form I'll be using MSIE. When using Firefox and Chrome, I cannot get an SSL 'lock' or certificate when clicking on the 'Upload' link. However, I can using the current version of Internet Explorer. Paranoid? Yeah. Too much sensitive data on those forms to be sending without knowing the link is encrypted.

[Pib]

I wouldn't waste my time filling in the FinCen114 data using whatever tax software you use. I use TaxAct software. Now I still click a few blocks in my tax software saying yea I know I need to submit a FinCen114 and will fill it out separately versus typing all the info into my tax software.

The reason I say don't waste your time is because you'll just need to "retype the info into the FinCen114 PDF form" which is uploaded/transmitted....I expect the U.S. Treasury computers are setup to automatically extract the data from "their" PDF form and not any other form made by a third party like TaxAct, TurboTax, etc. I figured I would just fill out the data once by only filling out the FinCen114 PDF form.

Also, last year's and this year's FinCen114 form was the same version (Ver 1.0)...if it's the same version next year just update your FinCen114 from this year and resubmit for next year. Unless a person is opening and closing bank accounts throughout the year like maybe some short term fixed accounts, about the only data you need to update is the amounts versus entering all your personal info and bank(s) addresses, etc.

I stopped completing the FBAR form in my tax software once you could no longer mail in the form and needed to use the FinCen114 form instead along with online submission only, which started last year.

Also, last year's and this year's FinCen114 form was the same version (Ver 1.0)...if it's the same version next year just update your FinCen114 from this year and resubmit for next year.

The FinCen114 is Ver 1.0, but if you compare forms from last year and this year, they are different. There are more pages on this year's form due to some 'white space' that added to one of the pages. Don't know if that will complicate their ability to pull data out of your PDF if you choose to file with last years PDF form. Just saying.....

When uploading the form I'll be using MSIE. When using Firefox and Chrome, I cannot get an SSL 'lock' or certificate when clicking on the 'Upload' link. However, I can using the current version of Internet Explorer. Paranoid? Yeah. Too much sensitive data on those forms to be sending without knowing the link is encrypted.

Yea, I see what you mean by the white/blank space on page 3 of this year's form which puts a half page separation between Part II and Part III compared to last year's form which didn't include that white space. It makes last year's blank form start off with a total of 6 blank pages and this year's a total of 7 blank pages only because that half page of white space caused a 7th page to be created. But both years are still the exact same OMB number, Version Number, and Date. I didn't see any change for actual data entries.

I seriously doubt the white/blank space on this years form makes any difference since a person can add additional entry blocks in the different sections which makes the form longer as needed. My signed/submitted form was 9 pages long as I had to add to some entry areas for my multiple bank accounts....and since I did some rearranging of the order I entered some of the accounts I did start anew this year by downloading a new form and retyping/cutting and pasting the info in.

And if the U.S. Treasury Dept don't like the form a person submits I expect they'll provide feedback for correction/resubmission versus a confirmation of receipt and acceptance with control numbers like I got back.

[DogNo1]

I completed my return using TurboTax and e-filed it on April 14th. The IRS accepted it within an hour. I was forced to use TurboTax because it's the only software that can import my 1099-B from my brokerage (USAA.) I had to abandon TaxAct which I have used for ten years. The e-filing went OK although there are several places where the input blanks available were not friendly to foreign addresses and telephone numbers. TurboTax also insisted on an EIN for my foreign pension form. I ended up typing in 00-0000000 and that was accepted. Incidentally, TurboTax does not prompt you to enter your short- and long-term capital loss carryovers but if you type it into the help search bar, it will tell you how to enter the amounts. Now tax season is over for another year? I never make the estimated tax payments and prefer to pay the fine instead.

[slerickson]

For filing US taxes, I've used Intuit's online TurboTax. It's a thing of beauty. It handled my business, investing and personal taxes with ease. If you have a fairly simple return then you can use free version. I worked for IRS for a while and they are very keen on people filing electronically and reducing errors with software.

[connda]

I've got FBAR issues. Attempting to download the NFFBAR.pdf file. To do this you go to http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html and click on Prepare FBAR. I get an Untrusted Connection Error in Firefox and Chrome. Although I can download it in IE, I don't get a SSL Lock symbol in the address bar even though the download web site is HTTPS. Here's a screen shot. Anyone else having the same issue?

Firefox.jpg

Chrome.jpg

Just a follow-up on the SSL connection issue. I did get a reply from FinCEN asking me for more details, however there doesn't seem to be a problem with the SSL connection that I encounted last month using Firefox and Chrome. I can get to the PDF download page and the FBAR upload page with a secure connection, and I'm able to validate the certificate. So, things seems to have been sorted out since my firest attempt at the end of March. Guess I can file my FinCEN Form 114 now

[connda]

I've got FBAR issues. Attempting to download the NFFBAR.pdf file. To do this you go to http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html and click on Prepare FBAR. I get an Untrusted Connection Error in Firefox and Chrome. Although I can download it in IE, I don't get a SSL Lock symbol in the address bar even though the download web site is HTTPS. Here's a screen shot. Anyone else having the same issue?

Firefox.jpg

Chrome.jpg

Just a follow-up on the SSL connection issue. I did get a reply from FinCEN asking me for more details, however there doesn't seem to be a problem with the SSL connection that I encounted last month using Firefox and Chrome. I can get to the PDF download page and the FBAR upload page with a secure connection, and I'm able to validate the certificate. So, things seems to have been sorted out since my firest attempt at the end of March. Guess I can file my FinCEN Form 114 now

I've been sitting on my completed FBAR form waiting to make sure all the bugs are worked out of FinCEN's system. So I opened up the PDF I'd filled out for 2014 (using the same one I submitted last year but just changed the account amounts), clicked on submit, filled out my email, name, and local Thai telephone number, browsed to select the PDF form, and hit submit. No problem. Got a confirmation back.

But interesting! I noticed something different on their submission page. They have added an option where you do not have to submit a PDF document, and instead can just fill in your FBAR online instead. Even though I prefer to have the PDF as a record, I though that option was an nice optional choice. I've attached a picture. Well, it's taken FinCEN about a year to work all the bugs out of the system, and it seems to work great! So maybe there is hope for the Thai Immigration Online 90 day reporting system too.

On a serious note, please remember that the FBAR filing deadline is June 30th.

[connda]

I've got FBAR issues. Attempting to download the NFFBAR.pdf file. To do this you go to http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html and click on Prepare FBAR. I get an Untrusted Connection Error in Firefox and Chrome. Although I can download it in IE, I don't get a SSL Lock symbol in the address bar even though the download web site is HTTPS. Here's a screen shot. Anyone else having the same issue?

Firefox.jpg

Chrome.jpg

Just a follow-up on the SSL connection issue. I did get a reply from FinCEN asking me for more details, however there doesn't seem to be a problem with the SSL connection that I encounted last month using Firefox and Chrome. I can get to the PDF download page and the FBAR upload page with a secure connection, and I'm able to validate the certificate. So, things seems to have been sorted out since my firest attempt at the end of March. Guess I can file my FinCEN Form 114 now

I've been sitting on my completed FBAR form waiting to make sure all the bugs are worked out of FinCEN's system. So I opened up the PDF I'd filled out for 2014 (using the same one I submitted last year but just changed the account amounts), clicked on submit, filled out my email, name, and local Thai telephone number, browsed to select the PDF form, and hit submit. No problem. Got a confirmation back.

But interesting! I noticed something different on their submission page. They have added an option where you do not have to submit a PDF document, and instead can just fill in your FBAR online instead. Even though I prefer to have the PDF as a record, I though that option was an nice optional choice. I've attached a picture. Well, it's taken FinCEN about a year to work all the bugs out of the system, and it seems to work great! So maybe there is hope for the Thai Immigration Online 90 day reporting system too.

On a serious note, please remember that the FBAR filing deadline is June 30th.

FBAR.jpg

Yeah! Got my Acknowledgement confirmation email back. All good for this year. Sigh, that's what I like about this time of year. Two major events that I always need to get jacked up for: Filing my tax return and FBAR, and getting my annual Immigration extension. Never a dull moment from March until June. Lol.