What Does MeF Mean To You?

Modernized e-File (MeF) is the new e-File processing system released by the IRS to replace their much older Legacy processing system. The biggest benefit for you, the tax preparer, is the real time processing of transmissions and acknowledgements. The IRS’s response time decreased from a 4-6 hour timeframe as in previous years to as little as every 30 minutes during the 2012 filing year. The MeF system also allows TaxSlayer Pro’s processing server to perform upfront validations on electronically filed returns to ensure they meet IRS and State standards. This validation process runs an automated check on each tax return for items such as invalid characters or incomplete forms. Your 2012 TaxSlayer Pro software will contain a new validation error report listing any previously transmitted tax returns that were not able to be processed and sent to the IRS or State because of a validation error. The report will also include details on what you will need to do to correct the error. The IRS has been accepting and processing business returns through MeF since 2007.

 

Beginning with the 2010 tax year, the IRS initiated a three phase plan for replacing the Legacy system with the upgraded MeF system for individual returns. Throughout the Phase-in, TaxSlayer Pro has been a leader in the industry in working with the IRS to test the MeF processing platform.

·         During Phase I (Tax year2010) the following Forms and Schedules were supported through MeF: Form 1040, 1099-R, 2106, 2210, 2441, 4562, 4868, 8283, 8812, 8829, 8863, 8880, 8888, and W-2. Schedule A, B, C, D, E, EIC, M, R, and SE.

·         During Phase II (Tax year 2011) all individual forms were supported and nearly every Federal Individual return was processed through the MeF system.

·         Finally, during Phase III (Tax year 2012) the IRS and all states (with the exception of MA) plan on using the MeF platform for the processing of all 1040 series tax returns. This will virtually eliminate processing returns through the legacy system.