When K-1 shareholder or partner information is updated by the firm or client, each has the option to notify the other of any changes or additions.
Info
Shareholders and partners are not notified of changes to these details.
Firm Updates (Notification Sent to Client)
The firm can update K-1 recipient information and deliver K-1s if settings allow. When K-1s are distributed, notifications of updates can be turned on or off.
Please note:
"Allow any internal user to Distribute K-1s" setting must be enabled before the return is delivered for the firm to edit shareholder or partner information after the return is delivered. See the General section of the Settings Overview article for more information.
- Navigate to Delivered Returns.
- Click the More (...) options button in the Action column for the return.
- Click Client View.
- Click on the Name and Email of the Client.
- Click the landing page to get started.
- Click Distribute K-1s.
- Click Send Electronically.
- Click the Edit button in the Action column of the K-1 distribution section.
- Edit K-1 recipient details.
- Select or deselect the checkbox Send update email notification to <Company Name>.
- Click Save.
Client Updates (Notifications Sent to Firm)
The taxpayer can update K-1 recipient information and deliver K-1s. When K-1s are distributed, notifications of updates can be turned on or off.
- Access the return. See Client Experience for additional guidance.
- Click Distribute K-1s.
- Click Send Electronically.
- Click the Edit button in the Action column of the K-1 distribution section.
- Edit K-1 recipient details.
- Select or deselect the checkbox Send update email notification to <Firm Name>.
- Click Save.
Comments
Is there a way to retroactively disable these reminders, and to do so in bulk? Or can there be a toggle option in the firm-wide settings so we can disable all of them at once?
I don't see any instruction for the client when they click on the link in the email. It just takes you to the viewing of the tax return, but there is no direction after that. We are getting some calls about that.
Is there a way to get a notice a week before the automated emails will go out? We'd also like to retroactively turn them all off.
One of the K1 recipients is a shareholder for multiple entities. He just asked if I could update his information for the other entities. I don't believe this is something I can do. Is that correct?
Hello! Thank you for reaching out and we apologize for the delay. We understand that the bulk of concern that has come from these notifications is whether they can be turned off at a firm level vs return by return. While this is not currently a firm level setting, we do want to assure you that providing more options to edit these notifications will be a priority for this next year. Once this feature is released, we will post it in the product release notes community channel.
If your client has received this notification, and they do not have any K-1s they need to update, we would ask that they disregard it. If you are finding any issues related to the links or have questions related to a specific scenario, please have them contact support@safesend.com to open a support ticket.
If a client has reached out asking that you update this information, this is something you can do by going into the Client View. You will go into the K-1 sections and update the details as needed.
Article is closed for comments.