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TAXMAN

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About TAXMAN

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    ATXaholics Anonymous

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  • State
    VA

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  1. DUE DILIGENCE

    A while back I came across a list of acceptable documents for the EIC,ctc,actc,aotc as required in Section 5 D of the 8867 form. For the life of me I cannot find it. Anybody got or know if a list even exists?
  2. IRS E Services web site

    Concerning Eservices verification. I have Trac Phone which works for me. I am able to get text on it but IRS says not ok. I do not want to buy a phone and service just to get a message from them. Who knows what the workaround may be?
  3. some 1041 help please

    TP decease 2012. Estate consisted of house only. Exec paid all bills of the estate including re taxes, ins, water, bills etc to prepare this house for sale. In 2017 Estate sold the house, paid back the Exec for every thing she paid for then distributed the remainder to the heirs. In the accounting provided the commissioner of accounts who accepted it and signed it as now closed allowed all the payback (very detailed with checks and receipts). The 1099 for the sale was issued in the estate name and FED #. since IRS will be looking for this income in the estate # 1: show this sale on a 1041 and the distributions accordingly? #2 Since all the bills were deemed paid by the estate at closing can they be used in the filing the 1041 return? No 1041 forms ever filed. The will directed that the real estate be sold to effect a cash distribution to the heirs. Suggestions on how to proceed
  4. NIT TAX

    It appears from these instructions that it will be. Thanks for the tip and link.
  5. NIT TAX

    Filing a form 1041. not final and no distributions were made. Estate received a form 1099-r for a cashed in life insurance policy showing 230k as gross and 30k as taxable with wh on it. My concern is is this subject to the NIT tax or not? The code in box 7 is 4D. Your thoughts BTY box 5 has 200k in it.
  6. Fingertiptax facts

    Any know if the fingertip tax facts people will be producing a new card?
  7. CHECK MY MATH

    If tp is a straight Sch C filer do they get the 20%? Brain is a little fuzzy this AM.
  8. Energy Tax Credit

    Anyone know if any of the extenders are gonna live 1 more year?
  9. CHECK MY MATH

    Thanks be to all. My client not happy. I guess we will have some that will be ok and some not. Nature of the beast.
  10. CHECK MY MATH

    I was trying to look at this from a straight tax point of view. Esp if the IRS lowers the withholding tables. Child credits may put some of this back but I don't think it will put it all back.
  11. CHECK MY MATH

    Looking at tax only: 2017 MFJ 70K AGI 5 EXEMPTIONS STANDARD DEDUCTION TAX =4625 (AGI WAGES ONLY) 2018 MFJ 70K AGI 5 EXEMPTIONS STANDARD DEDUCTION TAX=5139 (AGI WAGES ONLY) Just trying to get a grip on this
  12. Practitioner Education

    Hey Jack your comment "figured out to study to pass" is interesting. I plan on taking it in 2018. Can you shed some guidelines. A lot of that stuff I will never ever see. Thanks
  13. HAPPY NEW YEAR...............To Ya'all

    hey you know if its illegal how come they ain't been caught yet?
  14. Energy Tax Credit

    From what I read its a NO go for Windows, doors, and insulation. Someone else may want to chime here to prove us both wrong.
  15. STATE OF VIRGINIA

    Ok to all my Virginia cohorts. I have a TP that lived in MD all her life. Took a medical deduction on most of her MD returns due to Nursing home cost. TP recently moved to Virginia due to cost being cheaper here. After several years TP received a reimbursement from the INS company from expenses paid while in MD. This income was separately state on the 1040 as other reimbursements. This reimbursement was received while a Virginia resident but the expenses were never deducted on a Virginia return. TP filed a non-resident return to MD to pay the tax on this income. TP also took a deduction under Virginia adjustments to remove this income from Virginia tax. Can Virginia tax this as it was never used on the Virginia return as a deduction? Your thoughts
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