W2, Box 12 Error

[Crank]

I have a client who is disabled and recieves SS, a W2 from disability insurance provider and a W2 from the employer for the value of life insurance.

1) W2 - Disabiltiy Insurer - W2 income is not subject to Social Security wages so boxes 3 & 5 need to be over ridden to zero.

2.) W2 - Employer - contains a code M in box 12 and amounts in boxes 3 & 5.

Code M – Uncollected Social Security or RRTA tax on taxable group term life insurance over $50,000 for former employees. Include this amount as part of your total tax on Form 1040.

The amount in box 12 is carrying to the appropriate Tax line on the 1040...GREAT

HOWEVER - It is also carrying to line 69 "Excess Social Security Tax" in the Payments section thereby netting to zero.

I have tested this and it only occurs in this situation. If I dont override boxes 3 & 5 on w2 #1 (not the w2 with the code M) it calculates correctly without the error on line 69 in Payments.

I will have to contact tech support to see how to corrrect this but it makes me uneasy finding this error.

WATCH YOUR CALCULATIONS!

[W-tax]

I have a client who is disabled and recieves SS, a W2 from disability insurance provider and a W2 from the employer for the value of life insurance.

1) W2 - Disabiltiy Insurer - W2 income is not subject to Social Security wages so boxes 3 & 5 need to be over ridden to zero.

2.) W2 - Employer - contains a code M in box 12 and amounts in boxes 3 & 5.

Code M – Uncollected Social Security or RRTA tax on taxable group term life insurance over $50,000 for former employees. Include this amount as part of your total tax on Form 1040.

The amount in box 12 is carrying to the appropriate Tax line on the 1040...GREAT

HOWEVER - It is also carrying to line 69 "Excess Social Security Tax" in the Payments section thereby netting to zero.

I have tested this and it only occurs in this situation. If I dont override boxes 3 & 5 on w2 #1 (not the w2 with the code M) it calculates correctly without the error on line 69 in Payments.

I will have to contact tech support to see how to corrrect this but it makes me uneasy finding this error.

WATCH YOUR CALCULATIONS!

TRX just headache now. waste so much time. Why Doug put this non-ready software into the market? They should put back the old tax work (redgear). Keep TaxExact as open Beta until it beccomes stable. Otherwise, they will lose many old clients. Until today, I have not see any move they try to solve the problem and satisfy the old clients. I think that they do not care about these old clients now. Because as long as our old clients keep quiet in the web, those new blind clients who will be catched their hook. I think this will be their marketing strategy.

[Crank]

Got an email from Andy @TRX and he was able to duplicate this issue and said he will research it and get back to me.

[Crank]

This appears to have been corrected with update 4.0.0.16

[Terry D EA]

Looks like were making progress.

[W-tax]

Hi,Terry D, do you efile anything with TRX? Up to now, no any state and business tax return work? 1040 partial works with bugs.

Looks like were making progress.

[Guest Taxed]

W-tax, are you able to e-file returns today with TRX?

[Terry D EA]

I am no longer attempting to do anything but get a refund from TRX. I wouldn't trust this software for anything nor can you trust any updates to leave what you have already done intact.

[Guest Taxed]

Terry I am glad you have finally read the writing on the wall, and you now agree with many of us who were critical of TRX when we realized we were duped to be a beta tester for TRX. I hope you can drill some sense into Doug to do the right thing by us and give us 100% refund. For the time and effort you put up sticking for him that is the least he owes you!

[CathysTaxes]

I don't mind being a beta tester for a new software, but I want it to be ready when I need it. IRS is accepting efiles but I doubt if any of the accepted efiles came from us.