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Content Count
874 -
Joined
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Last visited
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Days Won
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About Lynn EA USTCP in Louisiana
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Rank
ATXaholics Anonymous
Contact Methods
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Website URL
http://www.LynnJacobs-EA.com
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ICQ
0
Profile Information
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State
LA
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Gender
Female
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Interests
cycling, walking my dogs, reading, reading, travel
Recent Profile Visitors
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Early Distribution from IRA. Not sure about penalty
Lynn EA USTCP in Louisiana replied to Dave T's topic in General Chat
Did Covid restrict his job hunting abilities? -
Community Property State Income
Lynn EA USTCP in Louisiana replied to Gail in Virginia's topic in General Chat
Ask them if they have a prenup delineating property separation. -
Parent died 12/3/2020 but didn't get 1200 stimulus
Lynn EA USTCP in Louisiana replied to katri's topic in General Chat
Some folks received their first stimulus money in April 2020. And the second as early as 12/29 or into January/February 2021. -
1099-DIV 199a Distr / S Corp
Lynn EA USTCP in Louisiana replied to Lynn EA USTCP in Louisiana's topic in General Chat
That is -
1099-DIV 199a Distr / S Corp
Lynn EA USTCP in Louisiana replied to Lynn EA USTCP in Louisiana's topic in General Chat
Judy, in ATX K-1 is no longer marked as draft. I looked at all the lines for code V and don't see anywhere to input the 199a dividends received. It's not a lot of $ (under $10) and probably will have no tax impact for the S/H. Thanks for responding. -
Client is an S corp with an investment account. The 1099-DIV reports line 5 Section 199A dividends $x.xx. I am mystified as to where on the return/worksheets/schedules to enter this information. I hope someone else has run across this in the past and has an answer. Thank you,
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Spouse died, gets recovery rebate credit
Lynn EA USTCP in Louisiana replied to Possi's topic in COVID-19
Schirallicpa - the client does not have to pay back the extra EIP received. While the IRS might say to return those extra funds, there's no payback requirement in that stimulus package. -
Updating Direct Deposit Info with IRS
Lynn EA USTCP in Louisiana replied to gfizer's topic in General Chat
But if he's already received the $1,200 and $600 then IRS already has the correct bank details. My guess is the letter is just an FYI, just in case, you might need to ...... -
It takes a couple days for the ACK to come back, and the time frame extends the closer you get to the filing deadline, My early ones took 2 days , and now I am looking at 3-5 days.
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FBARs: Prepare them or Refuse them?
Lynn EA USTCP in Louisiana replied to Lion EA's topic in General Chat
When the TDF form was filed It was a mixed bag. That changed when the FBAR filing is allowed only on the FINCEN site . I provide general FBAR filing requirements but do not want the liability of doing so. My 3 individual clients with foreign assets all file their own FBAR and provide a copy to me. The FBAR for a US trust is filed by the trustee, who also provides a copy to me. -
Form 3520 - Client Letter Discussion
Lynn EA USTCP in Louisiana replied to Matthew in the PNW's topic in General Chat
What I have done is edit the letter to add a paragraph -
IRS does match 1099-K, or at least the ones issued for $368,000
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I stopped mailing w2’s to ssa and 1099s to IRS; they are Efiled, the w2s through my writeup software via nelco (howell) and the 1099s via ATX. A few are manually entered directly at SSA BSO
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Payroll loading issue?
Lynn EA USTCP in Louisiana replied to Margaret CPA in OH's topic in General Chat
Close 2020 PR. Open 2019 PR. Close 2019 PR. Reopen 2020 PR and try again.