Lynn EA USTCP in Louisiana

Tax tools.com offers forms too (I think).  Another vendor is tenenz.com 

I too am the only one responsible for tax returns in my office.  My process is similar to DANRVAN’s but I do it by making use of the columns in ATX.  A return is rolled over from prior year when received.  There is a column for date received, one for notes, fed/state extension and efiling, as well as making use of ATX AR tab. 

I have entered the start up costs as an 'other expense' and then amortized the amount that exceeds the $5,000.

Gotcha - I must have misunderstood what you wrote in the OP. 

1 minute ago, JackieCPA said:

I do one one client that is an S-Corporation and has a sizeable amount in stock holdings with a brokerage firm - that only started because they didn't have enough basis at the time to take it as a distribution and put the investment in their personal name. 

Wouldn't putting the investment in their personal name be considered a distribution?

1120S filed for full year. 2 K-1’s issued, one to deceased for the period 1/1-DOD, 2nd to estate for the rest of the year.

look at Mint Mobil.

There is a time limit for filing the 1045. If it was filed outside (beyond) that limit then the carry back must be taken via 1040X; I include the 1045 as a worksheet 

Randall, so far I have had no reply from my account rep to my email requesting a larger discount. I will be sure to post to the group should a response be received.

This morning my account rep emailed with a link to the renewal; I responded asking for a greater than 12% discount, especially since the cost of the software is up 11%. 

I want to clarify my post, just above Abby Normal's.  Calling the IRS to cancel an electronic funds withdrawal should be done by the taxpayer, not the tax pro. 

Call IRS e-file Payment Services 24/7 at 1-888-353-4537 to inquire about or cancel your payment, but please wait 7 to 10 days after your return was accepted before calling. Cancellation requests must be received no later than 11:59 p.m. ET two business days prior to the scheduled payment date.  Posted on the IRS website Feb 8, 2022

https://www.irs.gov/payments/pay-taxes-by-electronic-funds-withdrawal

Hope his return is on extension 

Or the excel spreadsheet saved in pdf format, without a single thing totaled !! 

I efile the extension,leaving the payment line blank, then send the payment voucher to the client.  It's up to them whether or not they remit the balance due for the extension request.  I explain that an extension is for filing the paperwork, but not for paying the taxes due.

Randall, I do not intend to add the K2K3 if not required.  I am adding a 8275  disclosure form stating the entity meets the reporting exclusion requirements. 

ATX

Wow !! Just did a forms update, and K2 K3 dropped !!

1040-SS was part of the forms update just now (3/7 1:30 p.m. central time)

Wouldn't these expenses be part of the estate 1041 return?   Without any 1041 income the losses 'should' carry forward to the final return, when they sell the equipment and distribute the rest of the cash, right ?

KenO - I reached out to my account manager; so far all I've heard is crickets.

Verifyle has an e-signature option 

Are the ‘final’ boxes checked on both the 1041 and the k-1’s?

Penalty waiver and 3-year spread provision was only for tax year 2020; it was not extended to cover tax year 2021.

I have encountered clients who are not interested in being educated on accountable plans and insist on doing it in the least tax efficient method.