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The first round received letter 1444; the second round, I think, nothing. Line 30 -- your software may use a worksheet to do your data entry. Your software should compute your client's allowable Recovery Rebate Credit; you will enter the two payments your client received, or one, or none; your software will reconcile to see if your client has some remaining credit to transfer to line 30. Something like that!! I've heard that the payments are showing up on transcripts that you can check on e-Services or have clients check on Get My Transcript...

ATX has it for the first $1200/2400 payment. Not yet updated for the latest round. There's a line item in the area of tax payments with a jump to worksheet. If the person is eligible, the $1200 or $2400 will be included in the total payments and/or credits amount.

Here's to a happy, healthy, and prosperous 2021!

I pay $ 340 a year for $ 250,000 of coverage thru Hiscox.

I just paid mine through AICPA. I opt for $100K/$250K with NetProtect or Cyber insurance. I also have a million general liability through other insurance but this is not specifically malpractice. I've never had a claim in 25+ years (whew!) and benefit from Engagement letter credit of 5%, CNA longevity credit of 10% and Claim Free Credit of 5%. Yes, the rates have increased somewhat but the $190 NetProtect is the ugly part, I think. But I would not go without it these days.

It depends on the purpose of the payment. There is a lot of case law in regards to gifts to employees vs compensation. Since the pastor is a former employee, there should be a clear line as to whether the payment was compensation for services; or an act of charity. As Pacun mentioned, the intend of the church is the key. The payment could be classified as compensation If it was an enticement for future services or if he had not been fully compensated in the past. The reason for his termination could shed some light on the case. So for example, if he had fallen upon hard times, the church could make a gift out of concern for his welfare. In defining gifts, courts have used terms like affection, pity, generosity....

I might pay for the Compass class on the retention credits, especially the part about deferring SE tax for sole proprietors. All the 941 stuff is over my head; I try NOT to get involved with payroll. But if any of the deferrals get forgiven down the road, I don't want clients mad at me because I didn't tell them to do it. I enjoy learning new things, but the last 12+ months have had way too many new things for me to learn!

I'm happy that you figured this out. I was getting confused between 'red' and 'read' but now realize that you were overriding the calculated amount from the input box. You probably now know that anytime you have to override and get a red (in my case, pink) box, that means you might be wise to click on the arrow link to see how that calculation may be done in the system rather than your direct input. I'm glad you brought this up, though, as it's always good to learn what new things the programmers have done for us. I had not clicked on the box until you mentioned this so good on you!

I have always used Dell. I wouldn't even consider anything else. I have never had a problem that I didn't cause. The only issue I ever had was trying to use an encryption software that Windows didn't like. It actually locked me out of my computer and my IT guy had to call the software provider to find a way to get my computer back. As far as hardware failure, I never have had an issue. Average life for my computers or 7 to 8 years.

Answer: This must be special for you as mine does not. Aren't we all a bit tax nerdy? I mean, this is New Year's Eve about dinner time and here we are looking at tax software, finishing up (my) bookkeeping, and keeping in touch on this forum. Let's take a breather. Husband is bringing home from Carrabba's Salmon Saporito with lump crab on the salmon. I'll go set the table and put this computer to sleep - after one more peek at the Giant Panda baby. Happy New Year! We surely need it, right?

HAPPY NEW YEAR to all my dear friends here on the forum. May this new year coming in be nicer to us ALL than the one we're leaving behind!

They've said the payments will stop 15 January...

After being a Quaker for awhile, I attended a regular church service and felt like I was at a musical play. I enjoyed it but did not find it spiritual at all. Guess I'm just a quiet man.