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Mine are similar to Randall's. My problem isn't the 3/15 deadline but with the 1099 filings where I am given the entire year's activity to summarize and reconcile. If there is substantial activity that you summarize, you could try to convert these bookkeeping clients on a monthly or quarterly basis, depending on their other needs such as local, state, +/or payroll deposits and filings. In that way, you'd only have a small amount of work to wrap up the year end accounting.

This is a privately owned unofficial forum made up of other tax preparers who graciously help one another in our spare time. Demanding immediate answers on any forum, including this one, will not get the help you desire any faster and may actually result in not being helped at all! You can try calling ATX tech support, but I'm not sure they are still offering support back as early as 2014 any more.

Sylvia, it would be helpful to know specifically what error messages you are getting and when they occur. Also, I moved this to its own topic so not to revive one that was 6 years old, and I've removed your private information. Please know that this is a privately owned unofficial forum that was started for ATX users. No one here is from CCH that will be calling you directly, but hopefully some of our members may be able to steer you in the right direction so that you can use the program.

It is different. There are 18 states that allow composite filings, and at this time only six of those have approved PTET filings and two more have proposals in the works, matching up the states listed in Lion's link above. The other 13 states with PTET never allowed composite filings, your state of OR being one of those.

It's real. The passthrough entity can file a composite state return on behalf of all nonresident shareholder's or partners as a group, and then the individuals are relieved of the filing requirement in that state if they have no other income there.

You are mostly correct as far as your points about the SALT limitation, but the payment made on behalf of the individual owner where a composite is not filed does have to opportunity to include the taxes paid in the calculation of itemized deductions vs the standard where it may be possible to gain some benefit if that owner hasn't already exceeded the limit and is itemizing. Also, there are more things consider if you are advising and preparing the S corp returns, and especially if there is more than one owner. The operation in nonresident states to create a liability isn't an absolute given, but has the *potential* to do so. Filing a composite return may yield a higher tax overall than if filing individually because not all owners may be in the highest bracket in the state, especially if operating in states having graduated rates, and the individual owner may possibly be able to utilize other deductions or exclusions. Some reasons why filing individually rather than using a composite return may be better: the individual may be able to have some of that payment refunded that the passthrough made on his/her behalf, the individual will also be able to claim a credit on the personal resident state return for taxes paid to other states, and if the individual's return has other items of deductions or losses that factor into AGI, filing individually may yield a lower state tax than the composite return at the highest rate in that state Not meant to be all-inclusive as I'm sure I missed some points, but here are some other considerations in deciding to file individually: If the passthrough has more than one owner, composite payments made for only those that are nonresidents may violate the company's operating agreement as to making equal distributions for all if there are owners or partners that are actually residents of some states, so cash payments may be required to some owners to make sure that distributions are equal for all, especially in S corps where unequal distributions are prohibited; Some owners may have other income from those nonresident states, so the benefit of the composite return is negated or is to the detriment (see the point above about credit for taxes paid to other states); Owners move, so there may be times when an owner is a part-year resident of two of the states where the company operates; Owners with potential nexus or domicile issues in a particular state should carefully consider whether or not to file composite returns on his/her behalf because the statute of limitations does not start in that state if no individual return is filed; Composite filing at the company level does not allow the individual taxpayer to choose between MFJ or MFS, if there may be some benefit to doing so for a particular state.

I did the search and found it for the OP and anyone else that may be interested:

Were the illegal deductions on a Sch C or pass-through entity that she was part owner in and had knowledge of the payment and deduction? Innocent spouse rules pertain to those prior acts and returns. That rule wouldn't apply to future returns where the husband is withdrawing funds from his retirement for restitution, but if she files a joint return for the years going forward that have the retirement withdrawals, she would be liable for the tax liability and any early w/d penalties on those future years' returns, if any. To avoid that problem, she should file as MFS from now on, not jointly. I don't know if the court notifies the IRS. IIRC, there is a limited time period in which to apply for innocent spouse after IRS initiates collection.

NO. Each filing season, we are able to e-file the current return and the prior 2 years, so up until the shutdown date we are able to e-file 2020, 2019, and 2018 tax year returns. Then, after the IRS reopens for the next filing season, we will be able to e-file returns for tax years 2019, 2020, and 2021.

Danrvan is correct. You should check to see if there is a shareholder agreement that details which method the now-former owner stipulated to use in the event of sale of the S corp stock. Also, check to see if the buyer and seller agreed to a particular method at the time of sale. If you are the continuing tax preparer and advisor, you may have a conflict advising both parties on this issue because what may be good for the seller won't necessarily be good for the purchaser of the stock. These are older articles but still apply that discuss the allocation methods, and the second one specifically shows how the allocation to each side may either be beneficial or be detrimental. https://www.thetaxadviser.com/issues/2010/dec/clinic-dec2010-story-09.html https://manningleaver.com/resources/articles-alerts/s-corporations-few-buy-sell-issues-consider

I have a fiscal year C corp client that has large NOL carryforwards from earlier years and has not filed the 2019 return that also has a loss that will come forward. The 2020 return's extension is valid through 3/15/22. Both returns will be e-filed. Whenever I've had this in the past, I used to wait 6-8 weeks between returns to make sure the earlier one was processed before filing the next year's return. Now I'm unsure with the IRS backlog and its issuing of notices when one cannot as easily reach an agent should something be questioned. Tax year 2020 books have a loss, but because of unpaid accruals not deductible under sec 267, that add-back will create a small amount of taxable income before any NOL, and the NOL to be used will be from a much earlier year, not from 2019, but still.... How long would you wait to file 2020 if this were your client?

It was to speed up the delivery of the stimulus payments. IRS and SSA don't have banking information for everyone, and even then can only process "X" number per day, so that means mailing payments. Again, IRS can only physically process a certain number a day or week, so it contracted with the bank to issue some on plastic.

If it helps, I had one client that saved all the paperwork including one EIP that came on plastic. It seems very clear to me that it was from the U.S. government and what it was for. From some of what I blacked out though, I believe this client received this in June 2020, so maybe there was more awareness that payments were being made on plastic by then whereas recipients earlier on may not have realized that.

The K-1 would show the s.e. income before the sec 179 deduction. The netting will occur on the individual return because there are limitations at the individual level that must take place to determine whether or not all of the sec 179 from that particular entity will be allowed or not.

I do have Chrome for Android on both my tablet and my phone, and both of those are still on ver *.61 with the notation as being up-to-date. Has anyone read about or seen a more recent version for mobile applications? ETA - never mind, that is the most recent version available for Android.

I, too, had to start the update manually and was then prompted to restart the browser to finish the install. I find Chrome to be slower and so only use it for a few sites that won't work on Firefox.

The yearly dividend paid to residents from AK's permanent fund is in the range of $1,000-$2,000, so the amount your client's estate received isn't that. It sounds more like either accrued wages paid after death or uncashed paycheck amounts that were reissued and paid to the estate. I think this is reported on the Form 1041, and if that's where you will report it and with the 1099-misc in the SSN of the deceased, I'd show this as an assignment of income on the 1040 to be safe.

For the purpose of due diligence by a purchaser of a tax practice, under sec 7216(n) the seller is allowed to disclose names, addresses, emails, phone numbers, the tax form and entity classification of the clients. You may find the following blog helpful in this regard: https://www.johnrdundon.com/irc-7216-disclosures-issues-to-consider-when-selling-your-practice-start-with-a-tight-nda/

Allocate the selling price and the expenses of sale to each type of property sold. You will have separate sale entries for the land, the building and its improvements, and any 1245 assets that were on the fixed asset schedule. If I have lots of improvements over years, or have lots of 1245 assets listed, once I have the SP and expense of sale allocation figures, then I do group/bulk sale for each of those types.

Tom, I agree that the non-refundable should be applied first to reduce the liability, and the refundable credits come after that, and that is why those are included in the "payments" section of the return. I'm not sure if this will help you sort this out, but here is IRM and the credits application is in sec 21.6.3.4, and the ordering of nonrefundable credits is at 21.6.3.4.1 : https://www.irs.gov/irm/part21/irm_21-006-003r#idm140499595953776

It's now $210 per partner per month for a max of 12 months.

Maybe some of these responses were helpful?

If parents meet the requirements to claim him as QR, then parents can deduct the NET medical expenses they paid, net of any reimbursements from insurance, the trust, or from other parties. Assuming you are asking about 2020 deductions, this would include any net expenses PAID IN 2020 for medical services or expenses of 2019 even if son wasn't a QR for that prior year. For medical expenses paid for services that extend substantially beyond the end of a tax year generally aren't deductible (exception is LTC premiums), but for example, if the parents paid for in-patient rehab in late Dec for a couple of months into 2021, I'd be inclined to deduct that because many of those facilities expect payment up front at admission and may give a discount, for example if paying for 90 days in advance. Didn't look up the part about the trust, but I think the expenses paid by the trust could be a deduction there if it's a SNT, and that reduces the income of the trust that potentially is passed to the beneficiary.

I see your response! I cleared cache & history on my tablet earlier this evening and had NO TROUBLE logging in again. Thank you, Eric.

After clearing cache & history in Firefox, I got the same error code 2S119/1 at 2:30 a.m when trying to log back in. Immediately retried again and was able to log in as usual.