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Thank you. I'll take some time tomorrow to read the links and examples more closely.

I think the employer contribution is still limited to the 25% but the employee elective deferral can be up to 100% of the plan doc's comp as long as the total combined contribution max doesn't exceed the $61,000. https://www.irs.gov/retirement-plans/one-participant-401k-plans

Employer contributing more than 25% of the defined compensation per plan document would result in a nondeductible excess contribution, and the employer would be subject to the excise tax if not remedied.

If boot is taken, then client has a partially deferred gain, and the boot is taxable up to the amount of gain. No proration of basis is involved.

This is a reminder that we do NOT host political discussions on this forum, and with new leadership in the U.S. House, I expect that some members will be tempted to post about proposed new legislation on here. Already this morning, I've deleted two posts and modified a third to eliminate a political reference in a very minor way that does not affect its content. I'm asking that each of you to please be cognizant of content before posting to keep this a politics-free site. This would be especially true of any legislation floated out that we all know has no chance of becoming law short of h*ll freezing over. Thank you.

Wow, four hours to bake! The baker would need some of those calories back after all that prep and mixing.

Thanks, Dan! I've used RIA and PPC products for years but never for CPE and just made the switch to Checkpoint today. This was perfect timing because my now-former package had just renewed on the 31st and was still eligible for a full refund, and that company's state ethics course was NOT included.

Back at my desktop now, and the site address that I use is this one: https://www.atxcommunity.com/ Definitely has the lock and shows as secure. Are you using an old bookmark?

On my phone right now, but the web address has a lock icon that indicates it's secure. Is it your AV software giving a false indication? Possibly add the site as an exclusion?

Happy New Year, everyone!

Thank you!

The credit may potentially only be claimed in a year when the taxpayer does not pay AMT itself. The credit is available as carryforward if the taxpayer paid AMT in prior years, but not all of the AMT will factor into the credit. Only the portion of AMT that relates to depreciation and ISOs will ultimately be used as part of the credit calculation. Deductions that may have triggered AMT in the first place, such as state income and property taxes, home equity mtg interest, and miscellaneous deductions, are excluded. I can't answer specifically where this is in ATX other than to say that it should be with the input for form 8801, and it may be that many of the figures may be prefilled from prior years' forms 6251 and 8801 if the prior return was prepared in ATX.

Your question is like asking how much we charge for tax returns. There are many factors that go into pricing any personal service that will vary by region, urban v. suburban, the size/reputation/expertise of the firm, and the complexity of the trust. I would never suggest DIY online documents for a trust. Too many pitfalls. To answer though, around my area a few years ago for basic planning and setup (suburban of Wilmington DE, and definitely less than Philly or Baltimore) I've seen a range of $1,500-$2,500 and more.

MeF accepts the current and prior 2 years for e-filing. You are correct that the e-file for 2019 was rejected because of the shutdown and will need to be paper-filed. IRS will reopen the MeF system again in late January, 2023 for the 2022 tax year. At that time, the 2020 tax year returns will be the earliest that can be e-filed (current year 2022 and two prior of 2020 and 2021).

I installed it about a week ago. The interface looks the same except that the icons at the top seem a bit more cartoonish to me. It's a current trend, but not what I expect or want in a professional program.

I personally know of only one business that received a PPP loan and that did save it (a retailer with 2 stores) from going out of business while it suffered major losses of during the pandemic shutdown. By some miracle, my other business clients were of the types whose businesses were not affected by the shutdown, continued operating, and did not even consider applying for any PPP funds. My own practice was unaffected other than to tell clients that they would definitely be using the drop box and would not be seeing me in person at pickup.

Perhaps the OP is thinking of the minimun to keep the EFIN active. I can't answer about any EA minimum requirement, but one of the reasons the IRS will inactivate an EFIN is if a preparer has not e-filed any returns in the current or prior tax year. At that point the preparer would have to reapply. There are other reasons that the preparer could lose the EFI N and would have to reapply also.

This is disgusting, meanwhile some here worry about raising fees by $10 per return.

That's a real bargain considering the full retail is almost $200, and that price is why I stopped getting them.

I would probably keep the guides for the open years. I currently only have one, from 2011. Guess I can free up some shelf space. . . .

If I, as a tax preparer, shared any of this personal data with anyone it would be considered an ethical violation under circ 230 and my professional standards. Why is the IRS not cracking down and fining these software companies when the agency has other ridiculous standards for us such as the size of micro-shredded chips and all the various other rules for safeguarding taxpayers' data and privacy? This is infuriating!

Here's a link to the article: https://themarkup.org/pixel-hunt/2022/11/22/tax-filing-websites-have-been-sending-users-financial-information-to-facebook

It could be a security feature that Eric set up because of all the scammer/spammers with overseas IPs.

Well, I'd already found the 3 online services that Catherine suggested and set up an account with the first one, Tax2Efile. I tried to fill in the company's data with the first one, and it appears that these providers may have the same limitation as our software, that a tax year filing with a start date in 2022 is not possible yet. I'm not going to waste any more time on this and will paper-file an extension and copy DE on it also.

Not for the 7004, and DE has its own form (no efiling,, paper only) but grants automatically based on the fed 7004. I def want the IRS ack on this one too.