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EFIN

TedG
Level 1

I'm just learning about the ProConnect product with my QBOA .  I wasn't planning on doing taxes for any clients other than for my own business return and personal returns.  Is there any downside to signing up for an EFIN? 

Would it make more sense to continue to use two turbo tax subscriptions instead of ProConnect?

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9 Replies 9
itonewbie
Level 15

EFIN is required only if you are going to be e-filing returns.  And you will need a PTIN also if you are going to be a paid preparer.  To be issued either or both of these numbers, you will be subject to certain rules and have various responsibilities.  The process for being issued an EFIN is particularly onerous for good reasons - if you have no need for it, there is no reason for you to apply.

TurboTax is a personal tax product.  Its license does not permit its use by paid preparers.  If you are a paid preparer, you will need to subscribe to one of Intuit's tax products for tax professionals (i.e. Lacerte, ProSeries, or ProConnect) or one of the professional tax products from other competitors.  It goes without saying, then, you will also need a PTIN (and an EFIN, if you are required to e-file).

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itonewbie
Level 15

If you are doing only your own returns, you should stick with TurboTax.  If you use ProConnect Tax, you won't be able to efile without an EFIN.

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abctax55
Level 15

1) Turbo Tax is likely cheaper.  Intuit has their lovely Fast Path add-on fee.

2) It's way too late to get an EFIN for filing 2020 returns.  Plus, as Jensen says, it's NOT an easy or quick process (if I remember correctly, fingerprinting is required...THAT can't be an easy process with COVID restrictions)

 

Former Chump..umm... AllStar...This message was typed from 6 feet away so you can safely read it immediately.

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TedG
Level 1

Thanks for the feedback.  Very helpful. 

I'm not sure if your correct about the cost comparison.  I still need two turbo tax products. Is it worth it to use ProConnect and not efile?

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itonewbie
Level 15

@TedG wrote:

... I'm not sure if your correct about the cost comparison.  I still need two turbo tax products. Is it worth it to use ProConnect and not efile?


TurboTax will be cheaper.  If you are preparing only one business and one individual return, you will likely be paying rack rates for these returns.  See this webpage for next year's pricing: https://proconnect.intuit.com/tax-online/pricing/

As for not efiling?  You will be looking at longer processing time and potential issues with transposing errors - that's assuming there won't be any shutdown comes next filing season.

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abctax55
Level 15

It's not MY job to do a price comparison for you.

@TedG  - DO you realize you are talking to a forum of volunteers, folks that are here to help out fellow professional tax preparers?  This is NOT Intuit (QBOA, ProSeries, or (gag me) Turbo Tax , support.

 

Former Chump..umm... AllStar...This message was typed from 6 feet away so you can safely read it immediately.

If a post answers your question, click on *Accept as solution* for future searches
TedG
Level 1

No disrespect was intended.  I wasn't asking for you to price it out.  I'm just trying to identify the relevant issues to consider.  Hearing from this group has been helpful.

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abctax55
Level 15

None taken... you've been provided with a wealth of valuable info.  Have fun with it.

Former Chump..umm... AllStar...This message was typed from 6 feet away so you can safely read it immediately.

If a post answers your question, click on *Accept as solution* for future searches
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qbteachmt
Level 15

You see ProConnect related to QBOA, because QBOA = the A is for Accountant Portal.

Being a QBOA user means you would be expected to be a professional that is using the portal to manage client files or support those clients that use QBO, and then the connectivity allows you to transfer QBO data to become the basis of income tax filing for that same entity. It's cross-marketing and integrated for reasons of trying to keep Professionals "in the family" by Intuit.

Of course, a QBOA user can also be a person who has many irons in the fire and manages many of their own entities under separate QBO accounts.

You can use any tax product on the market to do taxes, and even the free file functions, of course. Only you can determine if you are stepping into a Professional capacity or staying as DIY. Then, you get the tool(s) you need for what you intend to do. For instance, your personal life might be complex enough that TT does not meet your needs, personally.

The issue of efiling or not is its own consideration. Many States are requiring it and in the "time of covid" it seems better than paper filing for the Feds, of course.

ProConnect is like any other app, and there will be issues as you use it. That is different than tax regulation issues. If you rely on the TT "experts" to support your own tax questions, I think you will find a very different experience if you switch to using ProConnect and then start asking for personal tax guidance here.

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"Level Up" is a gaming function, not a real life function.
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