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My wonderful wife has finished my new quilt. It is on a King Size bed in the picture. My wife is the bomb. Tom Modesto, CA

Yes, I saw yours and Eric's shields. Will all the shielded folks be in a group called something like Knights of the Computer Table?

Windows 11 is an arbitrary version number; it's just a prettier version of Windows 10 with a few new features. They have refreshed/refined the visual style but everything basically works the same. For the most part, it's no bigger an update than any of the previous Windows 10 feature updates which most have installed without ever knowing. Microsoft had previously said that there wouldn't ever be a Windows 11 because they have moved to a more iterative release style where they gradually add features over time. They decided to change their mind and bump the version number because it's a nice marketing tool. I wouldn't let it cause you any anxiety either way. It's just another free update, and like the rest of the Windows 10 feature updates it's best not to be the first to install them on a computer used for work.

"Congress introduced bipartisan legislation aimed at changing the estimated tax payment deadlines to a uniform, quarterly schedule. Rep. Debbie Lesko, R-Arizona, and Bradley Schneider, D-Illinois, introduced the Tax Deadline Simplification Act on Tuesday. The legislation would set the estimated tax installment deadlines to 15 days after the end of each quarter, moving the deadlines to Jan. 15, April 15, July 15, and Oct. 15. It would affect individual taxpayers, small businesses, estates, and trusts." This makes a lot of sense!

New penalty content landing page on IRS.gov: In an effort to provide you with additional penalty guidance to share with your clients, the IRS has redesigned and expanded the penalty guidance content available on IRS.gov. Visit the Penalties web page for information related to many common penalties. https://www.irs.gov/payments/penalties

That’s funny, I react the same way when using my shredder

Catherine would probably rather have a gun, anyway.

Maybe so. I have been on a personal crusade this past week.

I don't see a shield but I do consider my two profanity warnings a badge of honor. Oh, and thanks, Eric! It seems I only cuss every 4 years, so look out 2022!

Oh, I can't bear to think of what direction these comments may take.

I keep asking for my letter, but it never comes! I read that only 30% of taxpayers will be able to establish an account. I cannot; neither can my husband. Did you notice that there are no longer IRS telephone numbers in the upper right hand corner of IRS notices. Taxpayers have no choice but to go online. Lets make it harder and harder for taxpayers to pay, get information, or get help. Until we tax preparers are swamped with phone calls from our clients and nonclients who can't reach the IRS. What will the IRS do when we all retire?!

Intuit is the one company I hate more than micro$oft.

What beautiful animals. Pains me to know that they are being poached for their tusks, their populations decreasing. Good to know there are organizations out there fighting this. From one elephant lover to another, thank you for posting this Elrod.

Alright, so I'm sure many of you have noticed some changes. For a few brief moments, everyone had little badges next to their avatar/photo but I've disabled the feature for now. The new version of the forum software introduced a new Points/Rank/Achievement/Badge system that's more complex than the previous system that gave points/ranks entirely based on the number of posts you've created. When I get some extra time, I plan to take a closer look, so some of those badges may return later(?) If anyone specifically dislikes any of the new features, this is the place to discuss it!

Wouldn’t that be “Knights of the Tax Table” ?

So now I have to post just to see if I have a shield... Pout; no shield.

@Eric, you take such good care of us. No complaints, for Heaven's sake! We you !

That's really something. The mother bear is so accustomed to human exposure to fear no harm from humans to her cubs otherwise all those hefty critters to the right would have been heading for the hills.

They probably needed to take a paws from the heat and cool off.

As long as I don't wind up with a target on mine - especially if Catherine has the gun!

You make a great point. Personally there's no way I'd stand that close to a mother bear and her cubs. If one of the cubs begins to make its way in their direction, the mother bear may spring into action in an instant. Then you'll hear someone screaming "You can't outrun that BEAR!" And the response will be "I'm just trying to outrun YOU!"

You may be right. But commitment and execution are two different animals. Tom Sparks, NV

I always like to be next-to-last to install any update, to make sure all the problems have been fixed first!

You can with some states but not with federal... unless it can be done with an amended return. I suggest IRS Direct Pay. Also, just because they had some unexpected income does not mean they need to make estimated payments. I usually recommend they earn some interest on the money and just pay on 4/15.

Once the IRS has finished recalculating returns and issuing refunds, I assume the IRS will provide guidance regarding those returns that fell through the cracks, which will probably be early fall. All we call we can do is wait.

About time!

Thanks! Retirement is wonderful....I don't pay attention to what's happening in the world of taxes. As for my issue....I have a feeling that the original and the amended crossed. I told my son I'm perfect, I don't make mistakes!!!! Happy July 4th everyone..............

Look at the core strength, too - holding those little legs way out in front above the couch. How many of us could do that? (Or laugh that freely and joyously at wonderful silly things like ripping paper.)

Ooooh, a little gun symbol on my avatar - now THAT would be fun! @Abby Normal, you are SO right on this.

Sounds like the son gave the funds to his parents who have owned those investments and their income for the last 15 years, and paid taxes on that income. If the parents continued along that route, they would file a 2020 Form 709 to gift the account to their son. I don't think the past was handled correctly. But all you can do is report what they did in 2020. Well, and tell the family what should've happened for the last 15 years. Are these potential new clients for you? Do you suspect they've misreported other things, also? If so, you might want to decline the engagement. Tell them to contact you BEFORE making any financial moves from now on!

The son who received the original funds was NOT a minor at that time? Did he give the funds to his parents? Did he file a gift tax return? Or, did the parents hold them in some kind of custodial account for him? I think you have to establish the legal ownership of that account before you can determine how to report that account AND how to report its transfer.

The site is responsive, so depending on magnification and screen width (or browser window width if not full screen), the design of the site adjusts to accommodate whatever you've got going on. From a significantly magnified desktop monitor, to a small laptop, to a tablet, down to a phone in portrait orientation. It will not adjust to accommodate Internet Explorer, however. The browser's been discontinued everyone should be switching to Edge.

She can't "opt out" because when she went to the web site, she "doesn't qualify for child tax credit." I'm not even making this up.

"Intuit has decided to leave the Free File Alliance after coming under criticism for making it difficult to access a truly free version of TurboTax."

IR-2021-154, July 19, 2021 WASHINGTON — The Internal Revenue Service today launched a new feature that will give taxpayers digital control over who can represent them or view their tax records, a groundbreaking step in the agency's expansion of electronic options for taxpayers and tax professionals. The new feature, one of many recent enhancements to the Online Account for individuals, will allow individual taxpayers to authorize their tax practitioner to represent them before the IRS with a Power of Attorney (POA) and to view their tax accounts with a Tax Information Authorizations (TIA). https://www.irs.gov/newsroom/irs-improves-services-to-taxpayers-with-digital-authorizations-and-launch-of-new-tax-pro-account

It is close. I have a sadistic daydream that Bill Gates is in purgatory and he needs to remember every single password he ever created to get out, and his version of microsoft operating system crashes every time when he gets about 95% through the list. Control + Alt + Delete and start over dude! I know I should not wish this on anybody, but I can't help it. Tom Sparks, NV

Start by reading the trust document.

Toddlers, puddles, and sprinklers - a wonderful mix, always!

What an awesome video. It's a nice way to start my Friday! Have a good weekend!

She could go online and request a 120-day extension of time to pay without setting up a formal Installment Agreement. That gives her 4 months of breathing room. Then if the adjustment has not been made by the end of that period, she could try calling and requesting an additional extension of 60 more days. If she can't get through, then setting up a formal I/A with the minimum payment might an additional option. For some people, the fee for setting up the I/A might be a small price to pay to retain access to her $900. (She might even qualify for waiver of the fee, depending upon her income)

Deal was made in 2015. How was it treated on his tax return in 2015-2020?

That's a future CPA!

And there's the problem. None of my few gamblers have any interest in keeping detailed logs.

From The National Tax Advocate Blog: :Backlog of 35 Million Tax Returns That Require Manual Processing As of the end the 2021 filing season, the IRS had a backlog of about 35 million tax returns that require manual processing, meaning employee involvement is generally required before a return can advance to the next stage in the processing pipeline. The backlog includes about 16.8 million paper tax returns waiting to be processed; about 15.8 million returns suspended during processing that require further review; and about 2.7 million amended returns awaiting processing. In contrast to this filing season, in 2018 and 2019, pre-pandemic years, the IRS had a backlog of 7.4 million and 10.7 million returns, respectively, awaiting manual review at the close of the filing season. Of the 15.8 million returns suspended during processing, most were sent to the “Error Resolution System” for further review of specific items. Two of the most common items were “recovery rebate credit” (RRC) claims and Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) “lookback” claims. Although the majority of eligible taxpayers received their EIPs quickly and seamlessly, millions of eligible taxpayers had not received payment as of the beginning of the 2021 filing season. Taxpayers who had not received the full amount of EIP to which they were entitled were instructed to claim the missing funds as an RRC on their 2020 returns. The IRS had to manually verify many of these claims to ensure the amounts were correct. In addition, the IRS had to manually verify returns where the taxpayer elected to use 2019 earnings to claim the EITC or the ACTC. Because of changes to the tax law that took place late in 2020, the IRS did not have time to adjust its systems for the 2021 filing season to allow 2019 earnings to be systemically verified. The IRS Error Resolution System holds these returns in suspense until an employee can manually review the return and verify the RRC claimed on the return or the 2019 earnings for EITC and ACTC lookback claims." The Commissioner testified to Congress that all tax returns received during 2020 have been processed.

They are not linked. All the information needed is on each return ( names, SSNs, etc.). It would be a surprise to see tax due given the exclusion of $11,580,000. None of my clients gift that much!

Sounds like the son gave the funds to his parents who have owned those investments and their income for the last 15 years, and paid taxes on that income. Yes and parent benefited from capital gains and losses over the years. If the parents continued along that route, they would file a 2020 Form 709 to gift the account to their son. Agree. I don't think the past was handled correctly. But all you can do is report what they did in 2020. Well, and tell the family what should've happened for the last 15 years. Agree, what they did was not necessary. Are these potential new clients for you? Do you suspect they've misreported other things, also? If so, you might want to decline the engagement. New client, I don't think anything was being misreported in prior years, just the handling of the brokerage account. Tell them to contact you BEFORE making any financial moves from now on! Thanks

In Windows, I normally see what JohnH and jklcpa describe, but when I reduce the width of the browser window below a certain point, the top area and blue stripe completely changes, and I see the hamburger as Lion EA describes. It also changes based on your magnification level (when use use Ctrl+ and Ctrl- to change magnification).