Leaderboard

You two luckily must not be insomniacs. Not knowing a wholesale way to clean up Payer Manager I indeed have gone in there time and again, usually late at night, and deleted duplicates. At least you can delete a whole row/entry with a single click. Having begun computing with a Commodore Vic-20 with a whopping TWO KILOBYTES of RAM, I've always felt it vital to keep programs and data ultra lean in every way possible. Maybe that doesn't matter at all anymore with Gigabytes of RAM and Terabytes of storage, but doing it's very mind-pacifying.

But are usually embarrassed enough to add a generous tip! The biggest problem I have with my clients is trying to answer due diligence questions about "documents" when most of the answers I know through long, personal relationships. But they do get a kick out of it when I ask if little Bobby is still their kid.

I have them mail me a check with 8879. Some will send check separately when they get their refund, and some drag it out like I forgot them. After a friendly call I usually get paid. The very few, I can't even remember who, if they don't pay by next filing season I don't do return until paid for last and current year first. It's a system that works well for me.

Just make sure the distribution is Covid-related. They or a family member essentially had to have had the virus or been quarantined, or had suffered financially due to reduced hours, job loss, lack of child care so they could work, etc. I have had several calls from clients who heard they could take the money out (penalty and tax-free!) and were just checking. Of course they were not told it had to be Covid-related. I had one who works for a huge area employer and said HR told him he could take out $100k and only pay 10% tax. He did it, even though he had not been impacted by the virus. After I told him what his tax liability would really be (and scolded him about setting back his future retirement income), he paid it back except for the withholding. That amount will be taxed and subject to the 10%. Another wanted to drain his IRA to pay off credit cards and thought he would be exempt from penalty. At the end of our lengthy back and forth about it, his employer furloughed everyone for one day a week because of reduced business, so finally my client had a reason that qualified. There's a lot of misinformation out there, so do ask questions about these retirement plan distributions.

You're welcome to stick around, working or not.

I will take a post dated check from my clients with the stern warning that if it bounces I will never do their taxes again. Tom Modesto, CA

I got this link from ATX support that walks you thru the process. In the past I did the import method. https://support.cch.com/kb/solution.aspx/000048812

I take all major credit cards, PayPal, Venmo, checks/e-checks, and cash. Clients can pay me in person (not since March!!), via a link on my website, or give me their CC or bank information (for e-checks) over the telephone that I then process via QuickBooks. My clients seldom get much of a refund, but I do NOT take my payment out of their refunds.

Just a personal soapbox, this is a great time for you to document your "move to a new computer" process and treat it as a disaster recovery test/process as well. I preach to any who will listen to be prepared, and to get your process down to less than a day (not including time to get a new machine, if you do not have an alternate already setup and in place, which I strongly recommend as well). If anyone reads this far, I still am fond of the surface pro units, with external monitor, keyboard, and mouse, as they can be grabbed "to go" for regular use or emergency bug out, and come with very good built in security for a consumer pre built product.

Since I am 74 now with several health issues I deal with every day, I find all the whining and complaining from all of you 60 year old youngsters highly amusing

Notice 2020-76 extends the due dates under sections 6055 and 6056 from Jan. 31, 2021, to March 2, 2021, for insurers, self-insuring employers, applicable large employers, and certain other providers of minimum essential coverage to furnish to individuals the 2020 Form 1095-B, Health Coverage, and the 2020 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage. However, the notice does not extend the the due date for these forms to be submitted to the IRS! If you have to have these forms complete and submitted to the IRS no later than Jan 31, 2021, what is the point of extending the due date for issuing these forms to employees? Who makes up this stuff?