What if a partnership prepares the income tax return “in-house” but does not use tax preparation software?
A5. You will be required to purchase software approved for electronic filing, develop your own software or use an IRS Authorized e-file Provider to prepare your electronic return. If you choose to develop your own software, it must be approved by the IRS before it can be used to file an electronic return. Q6. Partnerships that choose to develop their own tax preparation software must have the software approved by IRS. Does this requirement apply to partnerships that use software approved for electronic filing for a portion of their return but develop their own software to prepare other portions of the income tax return? A6. Yes, this requirement also applies to partnerships that choose to develop their own software for portions of the return. Q7. My partnership prepares our income tax return using separate tax preparation software, one for the domestic portion of the return and another for International forms (i.e. Form 5471). Assuming both have been approved for electronic filing, am
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