IRS issue an Update on mandatory electronic filing of Form 990-T-
Any 2020 Form 990-T with a due date on or after April 15, 2021, must be filed electronically and not on paper. A limited exception applies for 2020 Form 990-T returns submitted on paper that bear a postmark date on or before March 15, 2021.
The 2020 Lacerte program still issues a Critical Diagnostic indicating Form 990-T cannot be file electronically. How can we determine when or if Lacerte will comply with this mandate?
However the program does not prepare Form 8879-EO for the signature on the E-File Authorization Form, nor do the filing instructions state the return is being E-Filed. I was on the phone today with support and they stated development told them that the Lacerte program adjustments have not yet been approved by the IRS.
Many 990-T's were due April 15th. I have been waiting to e-file Form 990-T after extending in April.
How soon is soon?
The fact these returns MUST be E-Filed this year and the software was not ready to E-File by the due date of April 15th is amazing!
Form 990 and 990-T organizations can have a year ending on any month of the year and the return is due on the 15th day of the fifth month after their year end which for organizations with a December year end is May 15. May 17th this year because the 15th is on Saturday.
Your welcome for the accounting lesson.
We had paper filed a 990-T and received word that it must be electronically filed. I literally just set the 990-T to efile in Screen 1 and attempted to transmit. The return failed transmission and the resolution given was "We are working diligently on final approval with the agency so that this return type can be electronically filed as soon as possible. Blah, blah blah."
It would seem the diagnostic cannot be disregarded. What is Plan B please?
I would sure appreciate if someone from Intuit/Lacerte would have the common courtesy to let us know what is going on and when (if ever) we will be able to file the 990-T electronically and what we are supposed to do if they cannot get their problem fixed.
Honestly, this is getting a little ridiculous. My Form 990-T was due with payment April 15th. Regular 990's were due May 15th. The returns must be electronically filed this year. We are now over two months past the due date of my return and still no return can be electronically filed. Lacerte needs to reach out and let us know the issue!!
It is interesting to see that someone filed on paper and the IRS would not accept the return. These clearly must be electronically filed, but it is almost the end of June and no filings can take place.
I have now successfully transmitted a 990T through Lacerte so the path is open. Unfortunately, we have a Form 4136 attachment and the IRS is rejecting the return with an error message saying that the form needs to be attached. The form IS attached correctly so it appears it is not being sent with the return for some reason. Baby steps....
After seeing your comment about 990-T now able to be E-filed, I have tried to E-File one of my 990-T returns. The return was sent, but ultimately rejected saying the type listed under the return info in Screen 1 is missing or invalid. However, when I look at the input for the diagnostic referenced, I have listed 408(e) - IRA, SEP or SIMPLE, which is correct.
I guess the E-Filing really isn't working yet 😞
Did you have any other errors besides the Form to be attached?
My 990-T was finally accepted after a ton of rejects. But now there is no acceptance letter to print even though it says there is one. Just prints a blank with client info but no acceptance info. I looked at letters and there doesn't seem to be one for 990T. Anyone know how to add one?
Side note, there was no acceptance letter for the extension either.