Jump to content
ATX Community

Leaderboard

Popular Content

Showing content with the highest reputation on 06/25/2019 in all areas

  1. My Win7 is now on 3.2.2.119. Had problems updating and discovered some other updates I needed. Thanks all for posting this.
    3 points
  2. Yes check with SSA, but the system will indeed accept multiple W-2s per employee per employer. We had a situation last year with double-reporting of income for some employees. One was our client; employer learned of issue when several ee's got CP2000 letters for un-reported income.
    2 points
  3. Copied from Tax Pro Today: In the first step of what could be a lengthy process, the House Ways and Means Committee voted 25-17 on June 20, 2019, to advance the tax extenders bill, which would temporarily extend a number of tax breaks that expired at the end of 2017 and 2018, or that will expire at the end of 2019. “These extender provisions have been in the Tax Code for many years, and Congress has continued to extend them,” said Jorge Castro, former senior advisor to the IRS commissioner and currently a member of the tax practice at law firm Miller & Chevalier. “They haven’t been made permanent, but they are a group of different provisions that have diverse constituencies that care about them,” he said. “For example, it includes tax benefits for tuition expenses, and a mine rescue team training credit. This was in response to a coal mining tragedy in West Virginia in 2006, and covers training program costs for mine rescue team employees.” “Other incentives in the extenders include provisions for the renewable energy sector, the New Markets Tax Credit for economic development, and the Work Opportunity Tax Credit,” he said. “The point it that it’s a large package that has a lot of constituencies that care about these tax provisions. Most of these provisions have been expired for a year and a half, so they will be retroactively extended back to Jan. 1, 2018. This package will not be made permanent, but the hope is that Congress at some point in the future will try to address them permanently.” “Different provisions are important to different sectors, which is why the package currently has momentum,” he said. “It is generally bipartisan and bicameral, but the different chambers will disagree on how to enact it. Senate Finance Committee Chairman [Charles] Grassley and ranking member [Ron] Wyden have a clean extension -- just the extenders with nothing added. However, the bill that the House Ways and Means Committee marked up makes some changes, with which Republicans generally are not in favor.” Specifically, the Ways and Means bill contains an offset to the extenders. It would “pay for” the extenders by accelerating the expiration of the higher estate tax exemption levels from 2025 to 2022. (Under the Tax Cuts and Jobs Act, the exemption increased from $5.5 million to $11 million for individuals, and from $11 million to $22 million for couples. “This is obviously just a first step in many important steps,” said Castro. “Senate Republicans have raised objections to the changes the House bill would make to the estate tax -- that’s just part of the negotiations,’ he said. “And [Ways & Means Chair Richard] Neal, on the House side, is under pressure to make this package fully paid for with revenue offsets so it will be a point of contention between the House and the Senate. Neal made the comment that they would look for more offsets by the time the bill hits the floor of the House.”” Although the markup is complete, the timeline is fluid, according to Castro. “The provisions have already expired, so there’s an urgency on that end to pass the legislation,”he said. “I can see this play out over the next several months, and possibly into the fall.” And the possibility that the package may pass in late fall is one more complicating factor facing practitioners as they prepare for the filing season
    1 point
  4. 1 point
  5. I agree, I have had the same EFIN for about 20 years.
    1 point
  6. If you have an SSA Business login, I'd try filing W2C's there. Put in the doubled-total are original report, and correct amount for corrected.
    1 point
  7. I think you set up a new one.
    1 point
  8. There was one W-3 that included the duplicate page of W-2 for 2 employees. The duplicates were included on the W-3 totals. (I'm still trying to figure how the payroll software did that.) What I'm concerned with is that the W-2c will delete all wages for these employees, not just the duplicates. I tried calling SSA but I keep getting " your estimated wait time is 1 hour 45 minutes". By the way, I'm a paper person too, but I've had problems in the past with SSA losing the forms.
    1 point
  9. Oh well, I'll take a shot at it (fools rush in where...). First, I assume when you're saying the paper person sent in a "duplicate page" you mean TWO of the copy A's of form W-2 (NOT the employee copies B-C-2); is that right? I'm not sure what you mean about "blanking out" the wages on one page. You're going to have to send two forms W-2C here; one for each employee. Let's say employee #1 made $20,000 and employee #2 made $10,000. Since SSA has two forms on each, right now they're assuming that #1 made $40,000 and #2 made $20,000. Each form W2C has a "Previously reported" line and those ($40K/$20K) are the figures you will put there. Then you'll fill in the "Correct Information" for wages, SS, & withholding for the right amount on each. There's another way to do it but it just muddies up the water. See page 26 of this link which lays out how-to-do the above stuff (and the muddy version) and walks you through it. https://www.irs.gov/pub/irs-pdf/iw2w3.pdf It's been several years since I was last tortured (ah'druther be drawn & quartered) with one of these and at that time SSA was not accepting laser-printed W-2 forms. They do now but I'm not sure about the W2C & W3C forms. If they require the red copies like IRS does on 1099s then you may have a problem finding the forms. It takes a good while to get an offbeat form by mail from any government agency and most local stores don't carry those forms. According to the link (see page 3) SSA will take W3C forms electronically at their so-called BSO (Business Services Online), so maybe you could do it there if you prefer (have no idea how long it would take to get client a password, log-in code, etc.). As you may have guessed, I'm also an insist-on-paper person. Good luck!
    1 point
  10. There are 3 things to consider: 1. Is the asset included in the deceased estate for estate tax (706) purposes. 2. Is the asset included in the deceased fiduciary (1041) or personal (1040) income tax return. 3. Is the asset included for probate court distribution of assets.
    1 point
  11. That sounds right. The TOD label indicates that there is a named beneficiary(ies) on Jane Smith's account that will pass to those beneficiaries, it bypasses the will, and is outside of probate, but the beneficiaries aren't shown on the account statement.
    1 point
  12. I removed all of Dell's Support Assist. I found the updates in control panel and removed them too. Thank you for keeping us safe out there.
    1 point
  13. You should just uninstall all that crapware. 100% not necessary.
    0 points
×
×
  • Create New...