rich

Thank you Danrvan!

Client's past accountant haven't took distribution of Income/ profit in past year and funds shows in 219K in AAA account. Previous accountant didn't completed sch L as he says Corp gross under $250K. Now this year Corp is closing for good and should it be right to take all current past tax paid profit and current year profit in distribution on schedule line 16D and that info reflects on schedule M2 line 8 to bring balance to zero.

Appreciate advise, Client is closing real estate S-Corp and sold last property, client haven't took income distribution in past years and shows $219000 retained earning as past and current year balance on schedule M2 Line 8.  Is it right to take cash distribution on Schedule K Line 16D and that info roll overs to schedule M2 line8 to make zero balance? Its Final return though.

I do have same error to use 4562 instead of input vehicle miles on Sch C. I see if there is no 4562 attached then sch C accepts direct input but i had some furniture assets so getting error. 

Now I added car as  new asset in Fixed assets and choose option 9 in vehicle category as- 5 year other vehicle(Listed).  Once done then vehicle pops up under Auto/Listed below and answer mileage questions. this info will flow to Sch C and make sure to delete if any previously filled info directly on sch C- Vehicle mileage info. sheet.

Hope it helps.

Same thing happened to me last week, account locked out, but I never had set any password on my stand alone computer. Tech asked me to type admin in lower caps, leave password input blank and on next screen input code for the atx tax software I got in mail during the beginning of season then I get the option to reset the password.

I called ATX and tech told me the errors on phone as he can read it but when I try to display errors, program crashes. Mine was mostly for Payer info and FEID mismatch and returns went fine after that. tech told me ,cure might be in next update on friday

I tried to efile where federal is accepted and all illinois returns get rejected. no error message are displayed and when I try to click display error messages Atx stopped working and crashes. I checked on myatx.com return status and rejection code is -9999.

Does anyone else experiencing such problem and will appreciate if some fix is there to share. i tried calling atx support but they are not accepting calls..

Rich

Client has C corp with zero income and federal accepted but Illinois e-file got rejected with errors -missing data regarding income. Do I had to paper file Illinois or can input $1 as income as tax due will still be zero. I will appreciate help on this topic.

Thanks in advance.

Thanks Margaret.

Client sold few stocks and 1099-B statementand line 4 shows taxes withheld. I cant find how to claim this on schedule D. I will appreciate help on this as i never seen this scenario.

Thanks in advance.

Be careful,I did one return with multiple pages transactions and imported data to D1, I found software wasnt correctly calculating total on line 2-F on sch D which flows from D1.I had to override.

Thats what I advised the client to start payroll from this quarter onwards but client is scared if it will be red flag for audit for not filing prior years payroll.Client is small trucking services with K1 of $20,500.To start payroll I need to file w4, I-9, Form 940,form 941 at end of quarter or has some way to know if he is eligible to file 944 instead of form 941 apart from state forms. Please correct me if I am missing anything.

Again thanks to all for valuable inputs.

Client didnt set up payroll in 2010 for S-corp, Can compensation amount on Line 7 on 1120-S be treated on schedule C on personal return and pay employment taxes?

Thanks in advance.

Is this $59 subject to DOT 80% rule or can be deducted whole $59 per diem along with other expenses?

Thanks all for valuable advice.

Minor dependent has social security income of $3765 and no taxes withheld. Can his father claim her income on his 1040 or she has to file her own return? so far I read is for minor/dependent over $950 in unearned income she has to file her tax return.

Please guide me in right direction.

Thanks

I had a client who has tax home in IL and on temporary job assignment working in MO and his W2 shows Box 14 per diem $37840.He stayed in MO renting apartment and visit every weekend to Illinois. Do I had to file 2106 and if he is paid by per diem by employer and account for the reimbursements?

Thanks in advance.

Thanks to all for valuable responses. Client is filing schedule A so will try to efile after feb 14 and see what happens.

Client got two W2's from same employer, one with ITIN number and other with social security #.How can I handle this situation?

Thanks in advance.

Check this link for refund cycle.

http://www.irs.gov/pub/irs-pdf/p2043.pdf

I do efile illinois last week but it is still IRS cleared too, may be have to wait?

Thanks Catherine,mcb

I had to synch twice and didn't lose my completed tags - indeed a great improvement. However, I lost my backup tags so that, when I backed up to my portable hard drive and my flash drives, it backed up EVERYTHING, not just the newer returns.

Can I get help on how to synch please.

Thanks

I would not worry I have a half dozen rejects every year that I can not reach clients.I send them a letter to contact me keep the letter in the file.Sometimes they show up the next year but most of the time they never come back.I have been doing this for 10 years never had a problem with IRS.I am also an EA.It is not our job to chase these clients down.We are a store front operation in a low income area.

Thanks for all the replies, actually toady I mailed the letter from post office with confirmation attached.That way I can proof I tried to contact them.

No Email either. What a pain on this last return....