MN Tax Professionals using Proseries

[Mike Mac]

You are going to be frustrated if you are a Proseries customer from MN. Intuit has no plans to include Schedule M1NC in their formset in 2007!! This is a required form for efiling. The M1NC form is needed to track federal adj to the MN return due to the fact that MN did not adopt many of the recent fed tax law changes (yet). MN also has a $5.00 charge for any returns that we mail rather than efile. MN does not make an exception because our software provider is not capable of providing the form.

At the very least, Proseries should be able to include the form for us to manually fill out (if they are unable to create the appropriate links). At least we'd be able to efile the tax return in that situation.

[fliszt]

Thank you for

your post. I have been filing MN taxes for years. And shame on me for not seeing form M1NC. This is embarassing!!!! I will call MN Revenue tomorrow morning to see why they approved Intuit without that form being part of their software. And as you pointed out, Intuit has no intentions of adding that form to their pkg. (I just got off the phone with them). I simply told the Intuit CS Supervisor, that if MN will not permit efiling without that form, I will contact the national office of NAEA, and NATP to let their MN members know what is taking place. I mentioned to Intuit that perhaps next year they are going to be down a few clients from all of MN.
Thanks again for the post.
Larry

[mblatour]

I didn't know about this either....

I too am extremely embarrassed. I've never heard of this form before and never knew it was something we had to prepare. I too use ProSeries software and cannot believe they won't take the steps to ensure their MN customers have the proper software to prepare their returns. This is a joke!! I'm very bothered by this.

Now I've got a mess to start cleaning up.

[JCH]

MN Form M1NC is only required for certain situations where MN has not adopted new federal changes. Most of the adjustments are for fairly obscure items, and I don't see them impacting more than a few of my clients, but thanks for alerting us to this new form.

[Mike Mac]

Not so obscure for many others though

I would think many of us have MN clients who can use the Tuition and Fees deduction from line 34 of the 1040 (I've had two of my first twelve clients who take advantage of it rather than the education credit). Also included are less used tax advantages such as the "educator expense" or the new tax break for retired safety officers.

In any event the fact of the matter is the form is required to efile the return and now, we as tax professionals, will have to go through the extra labor and cost involved with the paper filing process. More importantly we look very unprofessional to our clients who now must wait for weeks (rather than days) for their refunds.

It is particularly frustrating because the other company Intuit owns (Lacerte) does have the M1NC as part of their formset!!

[Bees Knees]

If the MN legislature fully adopts the federal changes that must be reported on Schedule M1NC, the form will no longer be in use.

The MN instructions say that if the MN legislature fully adopts the federal changes, and you filed Schedule M1NC, you would have to go back to amend all those returns.

I plan on having my affected clients wait until March to see if they do in fact adopt the changes.