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Anybody else contemplating waiting until the 13th or 14th to submit their efiles? Maybe I'm a bit paranoid or just shell shocked by everything already going on with this tax season but I can see the IRS and/or state networks getting over whelmed when all the Turbo Tax, HRB and all the other prepares hit the button on February 12th.

Anything related to normal maintenance or repair type items, to fix or maintain its condition, haven't been deductible or included in selling expenses since the Tax Relief Act of 1997.

There is also the issue that many clients have multiple 1099-R forms. Therefore, entering one number for the total withholding does not make sense.

Nothing, if it gets rid of the error, but in some cases people are still having problems with this and ATX's own solution in the error says that entering all zeroes is OK, and we now have 5 separate topics on this very worksheet. This shouldn't even be a required entry since the worksheets aren't transmitted with the e-file anyway. If it were me, I'd enter all zeroes every time and move on.

Until about 15 March, unemployment is taxable. But if Biden's tax proposal passes about 14 March, you might be preparing amendments. I'm making my clients who had unemployment benefits wait to file or pay my full fee for amendments on a FIFO basis.

On another post, I suggested that if you didn't prepare 2019 tax return and the TP has different kinds of income, the best is to prepare the 2019 tax return correctly on ATX (from the copy they provided) and then roll over the return to 2020. That way the software will grab only the earned income from previous year.

AGI is not the same as Earned Income Look at EITC for examples of Earned Income

This is going to be a real mess! The state of Ohio has identified 62,000 fraudulent unemployment claims for which erroneous 1099 Gs have been mailed. The state of California back in November had 77,000 active investigations of fraudulent unemployment claims. A lot of tax refunds are going to be held for months!

Well, I can now confidently state that the Jan 15, 2021 date for the $600 per person second stimulus checks to be received is irrelevant. Today, Feb 4, a client called to let me know they received their check in the mail. This was a retiree, whose first stimulus payment (last year) was direct-deposited to their bank account. So now we know that there will likely be plenty of confusion over whether to claim the second stimulus payment on the 2020 tax return, especially for early filers.