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jklcpa

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About jklcpa

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  1. Not really, Tom. I'm just like everyone else here, working and trying to do the best for the clients and our members here. Many times I look for some reference to steer the person in the right direction without doing all of the research because, after all, I'm busy too and that is the other person's job and responsibility and not mine, so many times I use pubs to give someone that start and don't feel the need to drill down to the regs or code while realizing that it isn't the most authoritative source. I'm wrong plenty of times, lots I don't know, and areas I don't ever want to deal with, b
  2. Well, I went back as far as Rev Proc 2007-40 found as part of this IRB 2007-26, that has many other references the tax code regarding e-filing, and it also includes this in section 5:
  3. Why, when I gave the correct response and the cite that contains the rules that you agreed when you signed up to be an ERO? As EROs, we are governed by the rules in pub 3112 and pub 1345 that I referenced in my first post, and before you argue that an IRS pub isn't authoritative, Pub 1345 references back to the actual underlying law. Maybe you should read it sometime.
  4. That would be considered stockpiling and is against the rules of being an ERO. Transmission of the returns is supposed to occur within a reasonable time after the ERO has all the required information and signed documents in order to process the return, and any more than 3 days delay is stockpiling. The exception to this rule is for returns prepared and ready to e-file prior to the IRS' MeF opening date for the filing season. See pub. 1345.
  5. Even if the IRS has the outside party reporting, it won't accumulate that data like doing a SFR. If it is handled like the first 2 EIPs were, I'd expect IRS to use the 2019 for anyone that hasn't filed 2020 by then.
  6. If you are SURE that the credit doesn't apply AND the wage deferral into retirement entered from the W-2 isn't needed AT ALL for the state return, you could omit the entry of the retirement plan contribution on screen W-2 and delete the 8880. See if that works to generate a correct return for your client's fact pattern.
  7. Your client is out of luck and won't receive any more stimulus funds. The payments were actually an advance on the Recovery Rebate Credit claimed on the 2020 return, not 2019. Because the 2020 returns weren't in the IRS system at the time of issuance and the agency had only either 2018 or 2019 returns to base the payments on, some people got more than they should have compared to if the 2020 tax return income had been available at the time payments were issued, and in those cases there is no payback. When you work through the credit calculation, if the person's combined total for both stimu
  8. I remember reading that form 502LU wouldn't be ready by MD Comptroller until sometime in March, then each of the software vendors will have to add that to their programming and test it. Does ATX have it? Drake doesn't.
  9. Just enter W-2 as it was issued. It's possible that the W-2 is correct if the employer elected to defer the employee's FICA withholding between 9/1/-12/31/20 as described in Notice 2020-65. Here's the IRS brief summary, and the notice is accessed by clicking the "guidance" link in the first sentence. https://www.irs.gov/newsroom/guidance-issued-to-implement-presidential-memorandum-deferring-certain-employee-social-security-tax-withholding
  10. The answer is on page 15 o Pub 3112 that I quoted shown below, but like the others have said, I wouldn't do it either. First, how are you going to get the return into your system without preparing it, even if it is mostly just data entry? Second, what exposure do you have if you spot things that are clearly in error , especially if you suspect intentional disregard of the tax law?
  11. Can he be using your boss's EFIN? Possibly, but your boss should check the number of returns filed under that EFIN to be sure before proceeding. I said possibly because unless the former employee is still accessing the firm's software, if he has purchased his own software as an ERO he would have to provide his own EFIN and PTIN to the software provider and enter that in the setup, and all of that would be transmitted with each e-filed return. Considering all of this, if your boss sees that more returns have been filed under the firm's EFIN than he knows the firm as prepared, then at tha
  12. Title changed so you may have some chance of having other members actually want to open and read your post!
  13. Yes, for an S corp I'd use the Other Adjustments Account.
  14. Bonnie, I'm so sorry to hear of your loss. As others have already said, please know that you have our support and are here for you when you need us.
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