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I'm not getting the "home and bored" calls, just dozens of panicked emails from small business clients who are trying not to go under, with questions about all the various provisions. There's so much news floating around, plus all the things that 45 says and I have to explain to clients aren't actually real, or are only proposals. It's all a muddle at this point! I'm high-risk, so I'm only going to the post (where I can drop off and pick up without going to the counter or standing in line), the bank drive thru, and my chiro doc. But like many of you, I'm a natural introvert, so this isn't that different from usual. I do have a niece nearby who I'll ask to do some shopping for me at some point. But it being tax season, i was already stocked up pretty well. A lot of restaurants here are trying to survive by switching to curbside pickup, or delivery, so trying to support them. I do find I really want good hearty comfort food! Otherwise, I'm still trying to get caught up with the returns I have. I'll probably send out reminder emails later this week to the folks who haven't come in yet, reminding them that if they get refunds, or have estimated taxes, we want to get those returns done, and they should mail or drop off their stuff.

Turn off the ringers on your phones.

Yes, people are calling to check in! If others are like me, I'm trying to answer questions about the shutdown, trying to decipher the new credits, picking away at the returns on hand, following the news, and worrying over family stuff. Plus, I just walked back in the door from picking up meds and shopping for us and for mom too. There was little traffic, light amount of shoppers that were still polite but not making eye contact, some actually making u-turns so as to not pass others in the aisle. Weird. Maybe I'll squeeze in some work today...maybe. I'm doing well myself, and as an introvert that is accustomed to being holed up at this time of year, that part of my life still seems rather routine. I'm just doing the best that I can each day and not allowing myself to feel overwhelmed. Do what I can, and the best that I can. That is all. I'm very concerned for my mom and my husband though, and I know I can safely share here without them or other family seeing. Mom is 93 and was released from a rehab facility one week ago after a month's stay because of a compression fracture of L2, so she definitely needs help now where normally is very capable living independently. She will heal, but I'm concerned about bringing the virus in to her and I'm the only one that may be sort of safe visiting at this point. Both my brothers and their wives have been sick with something involving lots of coughing but are all getting better after about a week. My oldest sister, 72 now, still works at Walmart part-time, is healthy so far, and is not visiting mom at all because of possible exposure through her work. Other sister is not local, so that leaves only me, and I'm sanitizing and washing constantly with everything there and keeping my distance as best I can. Starting around this time last year, my husband has been battling 2 difference types of cancer. Treatment for one was finished last year, and the treatment for the other cancer was finished in late January. On top of that, tests to clear him for the biopsies and treatments showed that he also has 3 things going on with his heart too. At 69, he is definitely in the highest risk group and hasn't been out in almost 2 weeks. He's an extrovert that likes going somewhere every day and will definitely be utilizing social media and video chats more frequently. Someone to talk to other than me! lol He's doing really well and is healthy otherwise, and no one would think there's anything wrong with him, and people don't believe his age either. They always think we are the same age and I'm 10 years younger. Thanks for letting me unload and thanks for reading, if you got this far. Sorry for the wall o' text. If anyone else needs to chat to relieve their stress or worries, please feel free. We need each other more than ever, and if anyone is feeling overwhelmed, please find someone to talk with or share here if it helps. We are a family here, and no one understands our work better than other members here.

For dependents children the standard deduction is the greater of $1100 or the amount of earned income plus $350 (not to exceed $12,200). Looks correct to me. As that is the standard deduction, it's deducted, not taxed.

It is very good to see some of us pausing in these terrible times to talk to each other, and advise of problems we're having. Misfortune has fallen on some of our most familiar forum members. If we live very long (as most of us have), we've been through storms of life. Some periods of time are just horribly difficult. These critical times don't happen every year, in fact just a few times in our lifetime. The tough times in my life are different than yours. Different than my next door neighbor - but he has been through the storms of life just like the rest of us. I have been through a few of these major events - and I'm not just talking inconvenient nuisances - I talking about times so bad I didn't know how to get through. They don't happen to us very often, but the kind of people we are deep inside are what pulls us through. One of my favorite bluegrass songs is "Mansion on the Hill" where a father and daughter drive to the edge of town and look high upon the hill where sits a mansion behind copper gates. They wish they could be like the residents and wish for their riches and lifestyle. But they have no idea what these wealthy people have going on in their lives - very possible those rich folks would prefer to swap lives with the father and daughter down below. For Posse and Judy, and anyone else with trying times, it is good that you take the time to advise us of what's going on. Gives many forum members the chance to show they really care. In particular Judy - some of you know that Judy and I have had a number of knock-down, drag-out disagreements. But all of you know that there is none among us more professional, more knowledgeable, or more helpful than she. And I join the rest of you in hoping for the best possible results in her corner of the world. Happy that many of you have belief in prayer - I'm not saying that I don't - but somewhat perplexed about my own effectiveness. We have some great people among us, and I'm told that the prayers of righteous people are heard.

Prayers for you, your husband and family. I was just in Delaware this weekend. My oldest daughter now lives in Milton close to Rehoboth and Lewes beaches. I guess made the trip just in time, right before the closed down the State. It was short but worth it to see her and the grandsons. Hang in there Judy.

Prayers to all of you and your families. When family things (and that includes pets) hit during tax season, it adds hours to our busy days. Venting here is a sanity saver for me many, many times; so I hope it works for all of you as well. Where else can we vent to people who are in the same boat, or at least understand from times when they were in the same boat? The new regulations coming almost daily keep us busy reading and answering phone calls (can I just record a message that says, "It hasn't been voted on yet; we don't know yet."?). Usually Hubby would be down at the church for hours each week practicing and meeting and directing choir practice plus teaching piano lessons; now he's home and shoving his tablet in my face to show me the latest video with liturgical music I don't even understand. I would send him to get signatures and deliver tax folders, but now I'm doing everything electronically and won't even send him to the PO to mail folders until it's safe to stand in lines again. But, he's a sweetie and cooks dinner and cleans what I ask him to for me. And, I'd be talking to myself (I still do) if he weren't here. I'm not getting a lot of returns filed so am glad I have until 15 July without having to utter the word Extension to my clients. Stay home or, at least, locked down; stay safe; and stay healthy! And, talk to us all to keep us sane. Thanks, all, for being here with me.

Judy...thanks for your candor. We're all in this together. This community, in many ways, is our extended "family" and we should be here for each other.

I have all my letters say to be efiled and when I receive the signed 8879 back I efile the return. No need to change the letter before efiling.

Sounds just like tips to a cab driver or to a wait person.

Judy, We are always here to listen. I will be saying prayers for you and your family. It is so tough to be the main caregiver and communicator. I so much appreciate everyone on this site that answers question when they are busy or listen to me whine about my family and their problems. For some reason, it is a bit easier for me to type my feelings, because I have been worn out for the last few months talking on the phone or texting family about all of the medical issues going on. I am finally used to the idea that my son is going to have to postpone his 5/30 wedding. Everyone has been looking forward to it, because it was going to be a fun party and we all needed it. We have more than 10 people in the immediate family, so it would be pretty boring just to have the parents. Hang in there everyone and thanks again for being here 24/7. Bonnie

Possi - prayers for your family. Judy, I empathize with what you're going through. It's hard to know what's best to do during this crazy time. I would like to join the respite board for the 'I'm bored and a bit anxious -- maybe I'll bother my accountant' call recipients. Grrrr.

My tax rep informed me that all personal contact via the phone is essentially done for now. They closed all the offices and until they can either return the employees or set up "work from home" solutions for the employees, they are done. I don't know how the IRS can securely allow work from home on such data. Just my opinion.

All income, tax and nontaxable, increases stock basis. All deductions, deductible and nondeductible, decrease basis, as do distributions, of course. Just not below zero.

Catherine, waiting for her next client.... Bill, enjoying his mid day lunch...... Margaret, just kicking back with her favorite snack..... Everybody else, just trying to keep office spirits High.....

Judy, that is so very much to handle - thankfully you know that we are here for each other in ways we couldn't have imagined years ago. We all share similar burdens with our profession especially at this season then all those personal issues that remind us we are human. Possi, please let your relatives know that there is this other 'family' out here holding them close. Thanks to all for responding. I was worried about this family and it seems with reason. On a small positive note: my almost 18 year old cat (Tribble, the black and white one in my avatar) had her feeding tube removed 10 days ago and is gaining weight and has much more energy. I wasn't ready to lose her having lost Noogie (Cattanooga, the black one in my avatar) just a couple of months ago.

Nevada shut down at least a week ago.

"Practitioner Priority Service (PPS) – Practitioners are reminded that, depending on staffing levels going forward, there may be more significant wait times for the PPS. The IRS will continue to monitor this as situations develop." The IRS has no phone service. I use enQ, a service that connects to PPS, Collections, AUR and a few more, withing less than 3 minutes. All I get now is a message that that these service are not available.

First, I think you care too much what the letter says. Like grandmabee, we print the letter, returns and efile forms before the client comes in to sign. Secondly, ATX has never been good at deciding. You see that 'paper filed' box? ATX added that after I bitched that it was too much trouble to get the paper filed letters to magically appear. So, if you want to say has been efiled, just check that box.

The taxpayer will need the same written acknowledgement that should be given for any contribution of $250 or more but that is not more than $500. Please see pub 4302 pages 3 and 7 for more details. https://www.irs.gov/pub/irs-pdf/p4302.pdf

This is strange... NC is extending the deadline to July 15, BUT will charge interest (only, no penalty) on payments made after April 15th. https://governor.nc.gov/news/tax-deadline-extended-july-15

I'm thinking they have gone home, too. I called about 10 days ago and was really helped by PPS then the Lien unit and got the POA in the pipeline. When I call again a couple of days later to check the status, got the no live service message. Since my client needs a specific payoff amount and payoff letter, I/we can only hope it will come faxed to me or mailed to client by closing date. Then again, I'm not sure the closing can take place now. If you have the option, I think pull transcripts. Even if my POA has gone to CAF unit by now (takes a few days after faxing to agent), I don't think a payoff amount or letter would be available in e-services.

Wow. I've NEVER printed a return that large. In ATX, I pretty much just give the client forms and very few statements or worksheets. I PDF all of those for myself in a separate return. Having a slimmed down PDF for banks and other third parties, is also a good idea.

For a particular year the the non-dividend distribution is $2500 which decreases basis. The Box 1 income is $1000, which increases basis. So, would not the net change to basis be -$1500 ($1000-2500) ? The basis is $50K, so there is no need to to consider deductions to basis as exceeding the basis.

At least people can go into work Tuesday morning to grab files, laptops, clean food out of the office frig, put a sign on the door, forward phones, etc.

Some FL greyhound tracks are closing for good (earlier than required/expected), and dogs will be heading towards forever homes. Some people will be participating in cross country hauls, then isolating themselves from their family upon their return... "Life finds a way."

Just the COVID-19 forum! It's snowing here. I think I'm in the twilight zone.

Are those two things connected?!

Kansas City Kansas and Kansas City Missouri are shutting down midnight Monday

Delaware is shutting down all non-essential businesses effective 8 a.m. Tuesday. Our industry of accounting, tax prep, bookkeeping and payroll are considered essential and may remain open.

FOR STATES: AICPA is maintaining a list of each states' filing relief and requirements: https://www.aicpa.org/content/dam/aicpa/advocacy/tax/downloadabledocuments/coronavirus-state-filing-relief.pdf Here is a list with links to each state dept of revenue for any additional information or press release that a state may have issued: https://www.taxadmin.org/state-tax-agencies If anyone has additional links to share specific to easing of deadlines for filing or payments, please do so but try to keep chatter down as we have a few other topics of discuss to post there.

Scammers already guaranteeing fast deposit of your new "federal check." If I ever find one of these guys I am going to need bail money.

It's awfully quiet in here today. It's ok with me. With the new deadline, I might slip away for a weekend with my grandson. Just family, no socializing with outsiders. I need to get out of here for a couple of days. My cousin's long time boyfriend (they are in their 70's and do not live together) was attacked yesterday by a band of dogs. He lost his leg below the knee, multiple puncture wounds, is still in ICU after about 6 hours of surgery, and while he is awake and aware, he is still on a ventilator. If not for my cousin, Rosie seeing him being attacked and going after the dogs with a metal pipe, Bud would have been killed. Pray for him, please.