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Everything posted by jklcpa

  1. I agree with you and I have been doing so all along. I hope your comment was directed to Pacun and to Possi and any others who agreed with him. To refresh, I did say this in one of my earlier posts above:
  2. I doubt states will reissue 1099Gs. Why would they need to do that? I see this as being similar to someone that received a 1099G for a state refund that is only partially taxable under the tax benefit rule. Perhaps we'll have a worksheet or a built-in calculate for the federal, and then each state has its own rules and handling. Some don't tax it already, some more already made it n/t for 2020 alone, and for those that piggyback federal under normal circumstances, I guess they'll have decisions to make. As far as holding returns, I posted this in the other similar topic we have going:
  3. True, the retroactive changes aren't your fault, but I think at a minimum you now have a responsibility to inform clients of the potential change to their returns and give them the choice to file or wait. I only have a handful that came in recently and they chose to wait a week or so rather than amend and then have to wait for a refund that may take months to receive, or pay a balance due that will end up a refund once the change is signed into law and is incorporated into the program. After all, they do hire me to work on their behalf to achieve the best possible result.
  4. I edited your first post to update it to 2020.
  5. I've talked with the clients in so far that have received UI benes and all have agreed to wait. Some are ready to print when the change comes through and some untouched. My affected clients are all in DE that starts with Fed AGI and had already made it n/t as a subtraction, so that adjustment will need to be removed by the programmers as well, but iirc Drake's state input will allow an override to that line.
  6. One of the amendments agreed to was to make this $10,200 apply to 2020. Below is the link to the actual pdf containing H.R. 1319, and the amendment is Sec 9042(c) wtihin that document. https://fm.cnbc.com/applications/cnbc.com/resources/editorialfiles/2021/03/05/Amendment_UI.pdf
  7. Yes, probably was something to due with the SS worksheet error in calculating taxable amount. If you already had the 8879 signed, keep in mind that you don't have to redo that if the change in tax < $50.
  8. No, on the donor's return just handle this as removed from service and make sure that depreciation is correct for the year. You don't want to record a sale and trigger depreciation recapture or PALs to be allowed as if it is a sale. Reporting the gift on Form 709 is enough of a trail for the IRS to know that the property is no longer in the donor's hands. Son will have dual basis if FMV is less than donor's basis at the time of gift, for purposes of calculating gain/loss if son ever sells. If son is keeping it as a rental, for depreciation purposes his basis is the adjusted basis at th
  9. If you see a member sharing private information such as EFIN or client data, either in a post or screenshot, please use the "report" function and I will remove the private data and try to leave the rest of the post intact as much as possible. The forum sends me an email immediately with every reported item, but if you try to get the poster's attention in a followup post, in all likelihood the person will not see that before the 5-min editing window has lapsed. Thx.
  10. MOD NOTE: Please note that I moved the OP's post out of an 8 year old topic that he had revived with his current post, removed all references sharing his EFIN, and lastly, I hid another post that quoted the original OP from the original 8-yr old topic that was something about duplicate submissions and having two ATX databases.
  11. Not sure what you are referencing when you say "the same as the one you have listed". I have a pinned topic where one of our members gave the main addy for AL DOR as 50 Ripley St in Montgomery. If you have updated information, please provide.
  12. Agree with Catherine. I've had clients sign the form and forget to send it. If it's mailed back late or takes longer than the 3 days, I scan the envelope and any note that comes with it where the client says "oops, sorry I forgot to send this."
  13. 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
  14. 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:
  15. 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.
  16. 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.
  17. 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.
  18. 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.
  19. 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
  20. 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.
  21. 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
  22. 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?
  23. 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
  24. Title changed so you may have some chance of having other members actually want to open and read your post!
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