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The 2210 is for the prior year and the interest rates should be hard coded in. The interest rates that ATX does not update are the late paying ones on the 1040 itself.

Easiest upgrade is with a new machine. You have your prior machine as a backup. I’ve installed new versions one current machine, but I have a separate machine as a backup at all times.

It will either be an expense to sell or addition to basis, but the net will be the same since the property was held for investment.

Report the gross as income and the amount withheld as expense. For the amount withheld, issue 1099 NEC to contractor for his work.

FYI Addendum: My IT person took the computer home. He pried it open and removed the battery which had exploded. He took it outside on the concrete, plugged it in and the computer works perfectly. He was shocked that everything survived. I had already ordered a replacement and have gifted the survivor to him. Acer all the way. Sometimes a tragic event has a happy ending.

Basically Tax Software companies like Drake and Taxwise sell their software at a big discount to these resellers since it's additional income with no additional expenses. Any of us could sign up to be a reseller if we wanted to. Some users might change resellers for a cheaper price or better support. If you spend some time doing online searches, you will find a long list of resellers for tax software. Buyer beware!

This very issue occurred in Drake as well. At the beginning, I thought it was a Drake issue but later discovered it appears it was an IRS issue and the software vendors had to make last minute changes.

Creators of malware will love ChatGPT

It sounds to me like the contractor's portion of the proceeds would include the liens that were paid off rather than treating them as an expense of the sale. So your client would report the sale proceeds that he received, and if the 1099S was issued solely in his/her name would report a nominee amount to the contractor of the proceeds that the contractor received either in the form of cash or as payment of liens against the contractor. Not sure I am stating that clearly.

Yes chatGPT is behind 2 years or more. That's because its creators wanted to put a leash on it. They don't want that monster to have access to all the information without having 100% certainty that it will perform as wished. As you know, Microsoft and Google are competing with OpenAI and one of the three will unleash their version with current information just to have an advantage. Without a leash, AI will do wonders and a lot of jobs will be "lost". As for the tax prep business, personal touches work with old people, younger people just want to know how much they will pay or receive. Most of them site in front of me intrigued with their phones. When I ask for their bank account and routing number, they get it in 5 seconds from their phones. When those old people are no longer our clients, we will have a different type of clients. I do feel that chatGPT could easily replace us because that monster is like having 10 preparers working on a return, especially if the client has prepared its organizer. I wonder how long it will take to chatGPT to write a program such as ATX. I also wonder when the IRS will have chatGPT or its variation testing and approving tax preparation software in the near future (10 years).

They're going to roll them out in batches, so as not to overwhelm their own phone systems. (And ours!)

I'll stick to this still main( ) { printf("hello, world"); }

We have "value added" that many of the Blocks/Jackson Hewitts do not. Their numbers will continue to drop if they are relying on simple returns (usually with EITC); whereas those who need 1041's, 1065's, 1120's, 706's, Schedule C, Schedule E, Schedule F (and some Schedule D's) will continue to use tax professionals. Also representation. I try and identify value added on any return I prepare--if they would have the same result elsewhere, I might mention Tax-Aide or some free program--if they still want me to prepare their return, that's okay too.

Maybe more accurately "trying" to leave CA/NY. Breaking nexus is a long road once established in either. Many years ago, I was trying to get approval to print a NYS payroll form. Went a test print, with fake data, as required. Somehow, NYS interpreted it (it was sent to their forms approval office) as being actual data and dunned me for a couple of years. Thankfully the employee names were things like "Test Data" and "John Q Public", so they eventually let it go. I am sure I am "on their list" since one of my replies was similar to "come get me, I have no nexus in NYS, and had, at that time, not been in NYS since '75 when I was a child". I can only logically assume the person in the form approval office forgot to set some sort of flag when they ran the forms through their scanner and the data "slipped" into the live data stream. Instead of trying to add a fee on delivered items, states should be a bit more forceful with delivery vehicle registration. Blue vans with MN, WY, TN, etc. plates have no business making deliveries in CA, for example. The last mile vans, at least here, belong to someone who contracts with the shipper to make the last mile delivery (similar to how many driving the white trucks do).

We really need an IRS site to look up the Name Control in their computers. It's stupid that they make us guess what they have. I had several trusts I couldn't efile for name control rejection for years, and finally the IRS fixed the name in their computers and we were finally able to efile. I kept putting the reason for paper filing as the IRS has an error in the name control database, and I guess someone finally took a look and fixed it.

Listened to a podcast on AI while on vacation last week - it's fun to laugh at it now but be prepared for the revolution.