ACRIS ASAP ENHANCED
By LOIS WEISS
|
|
Wednesday, February 16, 2005 -
TitleVest has created an enhancement to its revolutionary ACRIS ASAP software that further simplifies the creation of ACRIS E-Tax forms for co-op transfers by automating the creation of the required ACRIS Cover Pages.
Complying with the New York City Department of Finance’s ACRIS E-Tax requirements is a two-step process: the creation of the E-Tax forms and the creation of the Cover Pages. While the E-Tax forms must be created before the closing, the ACRIS Cover Pages must be created on or after the closing date and be dated as of the closing.
Also, the ACRIS system does not allow users to post-date the Cover Pages to be the same as the closing date, so Cover Pages cannot be correctly created before the closing. If the E-Tax forms are submitted without the Cover Pages, or if the Cover Pages are created prior to the closing date, the City will reject the E-Tax filing and return the E-Tax forms to the attorney for correction and resubmission.
Title Vest’s latest version of ACRIS ASAP turns the E-Tax forms and the Cover Pages into one easy step.
ACRIS ASAP keeps a log of all co-op closings, and early each morning, automatically creates all of the required co-op Cover Pages for closings on that day. An email alert is sent to the ACRIS ASAP user on the day of their closing advising them that the Cover Pages have been created and are available on the TitleVest website alongside the E-Tax forms.
|
|