Lewis Software News and Notes
The Federal Government has recently enacted a new legislation called the HIRE Act (Hiring Incentives to Restore Employment) which allow for addition payroll tax credits. The act creates an exemption from the employer share of social security (OASDI) tax on wages paid by employers to previously unemployed individuals hired after February 3, 2010, and before January 1, 2011. The exemption applies to wages paid these workers after March 18, 2010.
Lewis Software has released the 4.7.x software as of 7/12/2010. This version will support not only the HIRE Act legislation, but also the Schedule R added to the schema earlier in the year and some printing improvements. This version of the software which will still be called 941Express 2010, but will be identified as version 4.7.x.
The updated version of 941Express 2010 will add the following features:
- A New Printing Feature that is much improved and no longer relies on Adobe Reader.
- Support for all TY2009 changes as defined by the IRS.
- Network Licensing Support
Existing Features of the Product are:
1. Will provide support for the Employer's Annual Federal Tax Return (Form 944) as specified by the IRS.
2. Will support the new Shared Secrets Account System that is being implemented for calendar year 2009.
3. Will support all changes for forms 940, 941 and 944 for the 2009 tax year.
4. Provides a new Summary of Acknowledgments for Direct File Reporting Agents.
5. Allows Reporting Agents to file direct to the IRS using Telnet/SSL via the Internet. No more HyperTerminal or dial up connections for sending your transmissions.
6. Fully supports the IRS Encryption effort by including the ability to transfer data directly to EMS utilizing Telnet/SSL technology.
7. 941Express 2009 allows for Advanced Reporting Agents to import all of their Company, and Return Information using our Excel Spreadsheet Template. No manual data entry necessary!
8. This system fully utilizes the new Employment Tax System supporting XML data formats.
9. An Improved Printing option which no longer needs Abode Reader to Operate.
10. You now have the ability to make tax payments with your returns, as long as the 941 or 944 payment is less than $2500.00 and the 940 payment is less than $500.00.
11. The software now allows for reading of XML Acknowledgment files as a feature of the product using Internet Explorer.
12. You can update your Print Templates with a touch of a button within this new product
13. 941Express now fully supports the Indirect filing for Reporting Agents and ERO's.
14. The 941Express Tutorial and Reporting Agent User Guide is now embedded within the Help System.
15. The 941Express product now supports 3rd Party Designee for 940, 941 and 944 e-filed returns.
16. Fully Supports the COBRA Tax credit as defined by the American Recovery and Reinvestment Act of 2009 including the updated 944 Form for TY2009.
17. Supports the Credit Reduction of the State of Michigan for TY2009 on the 940 form.
18. Will fully support the HIRE Act of 2010 and allow for the additional exemptions from Payroll Tax.
19. Will support the Schedule R which allow for an entity with multiple EIN's to specify the liability of each sub grouping.
Attention all Reporting Agents:
941Express 2010 Update which includes the HIRE Act Changes, and the Schedule R should be available on or around July 1, 2010. The installation will be handled the same. There is no need to create a new directory to support this version.
Attention all e-File Customers:
We are pleased to inform you that 941Express
can use the PIN number you previously received
through any other e-file provider to file
your business tax returns. This PIN number
is used by the IRS exclusively to identify
you when the return is filed. Just enter
your PIN into the Company Database and you
can proceed to complete your return. 941Express
provides an unprecedented ease of use while
filing your business tax returns. Please
review our Business E*File or Reporting Agents page and contact us if you have further
questions.
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