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Showing content with the highest reputation on 11/06/2015 in all areas

  1. You can post this in the \r\tax forum on reddit. There are a lot of helpful people there including at least one suspected IRS employee.
    4 points
  2. Good morning MBjunket. This forum is set up for professional tax preparers that use a particular brand of tax program to help help each other, and we don't provide taxpayer assistance to the general public. Your best course of action is to call the main IRS number at 1-800-829-1040 and ask these questions of an IRS representative.
    3 points
  3. I don't think that's aggressive at all. Deduct it.
    2 points
  4. Glad to see MBjunket took jm's advice and has already received two responses on reddit. Nice response jmdaviscpa.
    1 point
  5. If the Trust has significant assets, it always makes sense to consult a competent attorney early on. One tricky issue avoided or prepared for can pay for it many times over. It always makes me think of the old English saying, "penny wise and pound foolish" how many people try to avoid a modest cost for competent legal advice when any problem can cost them big time. Just as they often do with tax advice.
    1 point
  6. 3. Rules If You Do Not Have a Qualifing child.Table of ContentsUse this chapter if you do not have a qualifying child and have met all the rules in chapter 1. This chapter discusses Rules 11 through 14. You must meet all four of those rules, in addition to the rules in chapters 1 and 4, to qualify for the earned income credit without a qualifying child. You can file Form 1040, Form 1040A, or Form 1040EZ to claim the EIC without a qualifying child. If you meet all the rules in chapter 1 and this chapter, read chapter 4 to find out what to do next. If you have a qualifying child. If you meet Rule 8, you have a qualifying child. If you meet Rule 8 and do not claim the EIC with a qualifying child, you cannot claim the EIC without a qualifying child.Rule 11—You Must Be at Least Age 25 but Under Age 65You must be at least age 25 but under age 65 at the end of 2014. If you are married filing a joint return, either you or your spouse must be at least age 25 but under age 65 at the end of 2014. It does not matter which spouse meets the age test, as long as one of the spouses does. You meet the age test if you were born after December 31, 1949, and before January 2, 1990. If you are married filing a joint return, you meet the age test if either you or your spouse was born after December 31, 1949, and before January 2, 1990. If neither you nor your spouse meets the age test, you cannot claim the EIC. Put “No” next to line 66a (Form 1040), line 42a (Form 1040A), or line 8a (Form 1040EZ) https://www.irs.gov/publications/p596/ch03.html
    1 point
  7. I just hope nobody takes our advice. We all forgot to (s).
    1 point
  8. Absolutely correct. I would have no income from tax prep if the first $599 from each payer was not income.
    1 point
  9. I like APlusCPE a lot. Just throwing that out there. http://www.apluscpe.com/
    1 point
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