Why does the bill show fees withheld from the bank product?
On the BILL,
"Preparer Fees to be withheld from bank product" consist of
- Your tax preparation fee, which you set
"Miscellaneous Fees to be withheld from bank product" consist of
- Your Franchise/Network fee (if any), entered on the ERO screen
- Audit protection fees (the cost of the product, and the Audit protection document prep fee and franchise/network fee, if any)
If you do not want bank product withholding to appear on the bill, go to Setup > Options, to the Billing tab, and clear the option box for Show preparer fees withheld from bank product. Deselecting the option results in a balance due, since the bill does not show the fees to be withheld from the bank product.
Where Does The Franchise/Network Fee Appear In A 1040 Return?
The Franchise/Network Fee (a multi-site fee indicated on the ERO screen) is charged if there is a bank product. It appears in View on the BILL, the Bill Summary (BILL_SUM in Drake15 and prior) (if enabled) and bank INFO page.
- The BILL must be set to show form details. Select an option on the Billing tab at Setup > Options to display form details, such as Show forms, form prices and total.
- The Bill Summary must be enabled on the Optional Documents tab at Setup > Options.
Why am I not getting the correct amount of tax preparation fees withheld or deposited on my bank products?
In view mode, look at the bank INFO sheet
Note the tax preparation fee amount. Your normal tax preparation fee may be modified from
- the BILL screen
- the Fee Override field on the demographics screen (screen 1)
- the Tax preparation fee override on the bank screen
Check those three places to determine the sources of the tax prep fee shown on the bank INFO sheet.