Preparation of Form 8882 to flow to Form 3800 and Form 990-T

Describe your idea. The more information you provide, the clearer picture of your idea we will have.

We would like to propose an enhancement to K1x that allows users to Prepare Form 8882 and be able to e-file the Form 8882 and for the amounts to flow to Form 3800, which flow to Form 990-T. i.e. all in xml format.

How will this idea help you and potentially others? Understanding how things are done today, where the pain is, and how the idea is beneficial puts us in your shoes.

A new IRS rule requires Form 8882 to be sent as XML and not as a PDF file. Thus a new Form 8882 is required to be built out to allow users to be able to e-file without rejections to the IRS. This enhancement is a requirement to be able to continue using K1x in the future for all our clients that have form 3800 credits.

Who will benefit from this idea? Whether it's specific roles of users, users of a specific product, or certain departments/markets, this helps us know who to talk to when we need more information.

All users will benefit. The 990-T is required to be efiled so if this is not fixed, we need to switch to other software so we can e-file our 990-Ts.

How do you envision this idea being implemented at K1x? You're the expert and understanding how you see this working helps kickstart the idea.

Form 8882 being built in system which is able to be exported as XML to IRS.

Form 8882 will flow to Form 3800 which is already built in system but also is allowed to be exported to IRS as XML.

Data Validation: The software should validate the form 8882 to ensure compliance with Form 8882 requirements.