EFIN

Forum|Forum|5 years ago
December 2, 2020
2 replies
15 views

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?

ProConnect Tax

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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).

---------------------------------------------------------------------------------Still an AllStar

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.

---------------------------------------------------------------------------------Still an AllStar

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)

HumanKind... Be Both

T

TedGAuthor

Level 2

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?

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.

---------------------------------------------------------------------------------Still an AllStar

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