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Just received an answer to my question via the facebook ATX support group, ATX creates two 1096's, you need to click on the arrow for the next page and there you will see the 1096 for NEC's. There shouldn't be any problem efiling them.

I think that you can only have one set of 1099 forms per 1096. Since they now use different 1099s (MISC vs NEC) I believe you will have to do separate 1096s. I believe if you are printing the forms and not e-filing, you can print the 1096 from within the 1099 print manager and get them each to print. I don't know how you can e-file if you have both forms within the same file. Maybe someone else can answer that one.

She is referring to "health share plans"; Medishare is one of many. I joined one called "Solidarity" a couple years ago. My wife and I were paying over $24,000 a year in premiums for two healthy individuals in their 50's. Now we pay less than $5,000 per year.

Proposed Reg 1-213-1 gives health share membership payments the same status as health insurance premiums. Therefore, health share qualifies for both Schedule A and the SEHI deduction. The proposed reg was in response to Executive Order 13877 back in 2019 which was directed to give health shares equal footing with health care premiums.

My preferred response was always "Answer hazy; ask again later!"

I attended an update class this weekend and it was talked about the Medishare health "insurance" could in 2020 be deductible. I find where it is deductible under Schedule A as medical, but they also said as a self employed health insurance deduction under adjustments. I can't find that in my research. Has anyone seen this new law? Can you point me in the right direction? TIA

I'm very interested to know. The virus is worse than ever, and we should be later than usual getting our appointments scheduled. Especially for deadlines due on March 15th. I have been vaccinated and will be immune (I'm told) by Feb 8th if successful. I am not taking appointments before Feb 12th. The IRS will be under pressure to collect $$ but their worst enemy in this regard is Congress itself. What I foresee: IRS does not want to enforce a deadline, assess penalties, and then go to the administrative hassle of having to waive penalties because so many clients (and preparers too) will be claiming the coronavirus was the reason for the delay. CBSLee if you are listening, you generally have a drop on IRS information quicker than the rest of us, so you are encouraged to share...

I only do a few. I always order the forms (red originals).

Issue Number: IR-2021-10 Inside This Issue IRS ready for the upcoming tax season; last-minute changes to tax laws included in IRS forms and instructions WASHINGTON – The Internal Revenue Service today assured taxpayers and tax professionals that updates to key federal tax forms and instructions are complete and will be available when Americans begin filing their tax returns. Most individual taxpayers file IRS Form 1040 or Form 1040-SR once they receive Forms W-2 and other earnings information from their employers and payers. IRS has incorporated recent changes to the tax laws into the forms and instructions, and shared the updates with its partners who develop the software used by individuals and tax professionals to prepare and file their returns. Forms 1040 and 1040-SR and the associated instructions are available now on IRS.gov and are being printed for taxpayers who need a hard copy. Economic Impact Payments are an advance payment of the Recovery Rebate Credit. Important updates include the Recovery Rebate Credit worksheet on page 59 of the 1040/1040-SR instructions. Anyone who didn’t receive the full amount of both Economic Impact Payments should include the amounts they received, before any offsets, when they file. Anyone who received the full amount for both Economic Impact Payments should not include any information about the advance payments when they file their tax return. Also new this year is the option to use prior year income amounts when computing the Earned Income Tax Credit and the Additional Child Tax Credit. The IRS has not yet announced a start date for the 2021 filing season. IRS Free File will open in mid-January when participating providers begin accepting returns. The IRS Free File providers will accept completed tax returns and hold them until they can be filed electronically with the IRS. Latest Economic Impact Payments are automatic for eligible taxpayers This month, the Treasury Department and the IRS are sending the second round of Economic Impact Payments to millions of Americans as part of the implementation of the Coronavirus Response and Relief Supplemental Appropriations Act. Taxpayers don’t need to take any action to receive these payments. Economic Impact Payments are automatic for eligible taxpayers who filed a 2019 tax return and those who receive Social Security retirement, survivor or disability benefits (SSDI), Railroad Retirement benefits, Supplemental Security Income (SSI) and Veterans Affairs beneficiaries who didn’t file a tax return. These second round of payments follow the successful delivery of more than $270 billion in CARES Act Economic Impact Payments to about 160 million Americans in 2020. Eligible individuals who did not receive an Economic Impact Payment – either the first or the second payment – can claim a Recovery Rebate Credit when they file their 2020 taxes this year. The IRS urges taxpayers who didn’t receive an advance payment to review the eligibility criteria when they file their 2020 taxes; many people, including recent college graduates, may be eligible for a credit. Eligible individuals who didn’t receive the full amount of both Economic Impact Payments should claim the missing amount as a credit. Anyone who did receive the full amount for both Economic Impact Payments should not include any information about their payment when they file their taxes – they’ve already received the full amount of the Recovery Rebate Credit as advance payments. For the latest IRS forms and instructions, visit the IRS website at www.irs.gov/forms.

You don't need special server software to run a server. We just have a modestly priced windows 10 computer in a closet that everyone accesses. You just share the drives/folders that contain the data.

I just discovered we can now add our logo to the Billing Invoice. Go to Customizer Master forms to do this. Definitely makes the invoices look way more professional.

Anyone have any idea how it was determined who gets debit cards and others their stimulus payment by check or direct deposit? Ours were paid by check (we had moved and closed the bank acct on our 2018 return) and direct deposit (by then we had filed our 2019 return with updated bank info). I hate it when other things are refunded on a debit card. Buy a washer and dryer and get your incentive rebate on a dr card. No! I took the cash out of savings to buy the darn things and only want to replace the cash. I would think most folks would prefer their tax refunds/stimulus payments any way but dr card. You likely can't pay the rent or car payment or student loan with it. A few years ago the state of CT paid tax refunds with dr cards. There must have been a big backlash because it never happened again.

I think all that transmits is the name and EIN. The rest is for your own tracking?

I enter the address because I mail the forms to the payee in a window envelope.

Go to the 2019 software and click on 1099MISC tab, then click on Detail tab. Click Export and save it as a CSV file. Go to the 2020 software and click on the 1099NEC tab, then click on Detail tab. Use Browse to select the CSV file. Above each field is a drop down list that says Please Select. Map each one to the appropriate field and then select Import.

If you filed Form 56 - Notice Concerning Fiduciary Relationship - with the IRS you will be able to have access to whatever transcripts are available. I became an administrator of an estate a little over 2 years after date of death, filed Form 56, and when I called about getting transcripts and asked if they needed an 8821/2848 was told Form 56 allows me to do anything. Haven't needed anything other than the transcripts but hope they meant it!

1. Be very careful with EIDL Loans, There are a lot of very restrictive covenants that could hamstring a business. 2, Yes you can do both a PPP Loan and the retention credit, but you have to really thread the needle to make them both work together. 3. I have one client who qualifies for a second PPP Loan, which we are seriously considering since it offers the most flexibility.

EIP1 only could be offset for Child Support only. EIP2 can NOT be offset. Per The CARES Act (EIP1) and the CAA (EIP2).

But we know from years of experience that most will not know the amount. Also, how many amounts (EIP1 only) given by clients will be missing their child support offset; how many clients tell you they owe back child support? I can deduct my new crystal ball as a business expense, right?

pronounced eep? or EEEEEEEEP!!!!!! inquiring minds want to know...

I am having to learn as I go. Mom and Aunt did nothing when grandmother passed, now mom passed earlier this year. I even had to sign something as an heir for my grandfather, who passed in '71, because the real property title was not changed. The rub is neither made any plans, gave any indication of their wishes, so intestate it is. I have two sibs waiting for their cut with open palms. Catherine has agreed to help.

I had the same problem last week and it finally opened back up on Friday and got my EIN for a new restaurant opening! yes a restaurant, surprise, surprise.