2016398

[#1]

The following diagnostic is generating:

e-file: Valid accounting period beginning and end dates are required.  Accounting period end date cannot be less than the accounting period begin date. Accounting year end date cannot be greater than January 4, 20XX (XX=current tax year.)  For an annual report, the account period begin date cannot be less than the first day of the report year filed less 3 years, and the account period end date cannot be greater than January 4 of the report year being filed.  For an initial report, the account period end date cannot be greater than the original due date less 60 days.  For a final report, the account period beginning date cannot be less than the first day of the report year being filed less 2 years, and the account period end date cannot be greater than December 31 of the report year filed.  (ref. #2016398)

Solution:

Texas Franchise Fiscal Filing:

When filing a TX Franchise Tax report, it is necessary to override the accounting period beginning and ending dates. This diagnostic is triggered if the ending date is greater than 01/04/20XX (XX=current tax year.) This prevents the return from being filed using the Lacerte tax program, as the State of Texas will not allow Lacerte to produce the forms unless the return meets the requirements set forth in the General Specifications.

Unlike the Federal return, The TX Franchise Report Year, Due Date, and Privilege Period is based on the ending fiscal year and usually covers the next tax year.

Example:
For an entity with an ending fiscal year of 07/31/2018 the TX Report Year is 2019, the Due Date is 05/15/2019 and the Privilege Period is 01/01/2019-12/31/2019. These returns would need to be prepared within the 2018 Lacerte Tax Software.