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Showing content with the highest reputation on 10/14/2021 in Posts
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Agree with that. However if a return is filed, a future tax preparer can at least get a transcript and find out what went into the bucket.2 points
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Many times, I've corrected carryover amounts internally and not filed an amended return, if the tax didn't change, and the IRS has never inquired. Every year is a separate bucket with the IRS and they do not verify carryover items. They're just not that sophisticated, and they may never be that sophisticated.1 point
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NO. Each filing season, we are able to e-file the current return and the prior 2 years, so up until the shutdown date we are able to e-file 2020, 2019, and 2018 tax year returns. Then, after the IRS reopens for the next filing season, we will be able to e-file returns for tax years 2019, 2020, and 2021.1 point
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When in doubt, I tend strongly to file.1 point
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https://www.irs.gov/charities-non-profits/charitable-organizations/private-foundations is a starting point and should reference more authoritative sources.1 point
