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1040SCAN

1040SCAN Pro Pre-Verification Program (PVP)

Important: PVP is for 1040SCAN Pro users only
 
As a result of the IRS mandate to have brokerage firms modify their 1099-B formats over a multi-year period, Consolidated Statements have varied greatly from year to year and new formats are anticipated for the coming tax years. New formats are less easily recognized by 1040SCAN. In order to discover new formats as early in the tax season as possible, SurePrep offers a Pre-Verification Program (PVP). There is no cost for PVP. 
When you opt-in for PVP, the brokerage statements you submit to 1040SCAN PRO go to SurePrep’s onshore staff for review prior to your firm’s internal verification process (that’s why it’s called “Pre-Verification”). SurePrep’s staff reviews the brokerage statements for format changes and, when found, forwards them to our OCR programming team who manually corrects any data that wasn’t read properly by OCR due to the format change. This allows SurePrep to find and resolve the issues more quickly and save your preparers time they would otherwise spend correcting the OCR’d data on these newly formatted statements. 
Because this service is performed in SurePrep’s Irvine, CA facility, there is no Section 7216 consent required. It does, however, require a one day turnaround time depending on when the binder was submitted. This delay is worth the benefit in our opinion, which is why we recommend that all 1040SCAN PRO users opt-in to the PVP Program. The PVP turnaround time is the same as 1040SCANverify Onshore service.
Please contact SurePrep Support to enable PVP for your firm.
To use PVP service, select the
Pre-verification Review
 check box on the
Create New Binder
 window.

This article applies to:

  • Product: SurePrep
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