-
Posts
1,024 -
Joined
-
Last visited
-
Days Won
18
Everything posted by Lynn EA USTCP in Louisiana
-
Changes in Employer Retention Credit - help
Lynn EA USTCP in Louisiana replied to WITAXLADY's topic in General Chat
2021-49 dropped last week. Don’t remember if it is a notice or rev proc -
Deceased taxpayer owes, now what?
Lynn EA USTCP in Louisiana replied to Margaret CPA in OH's topic in General Chat
IMO the costs to engage someone to prepare (and follow through) an OIC far outweigh the amount of remaining tax due. The other options should be pursued. -
Did you look in the Elections Tab ?
-
paper filed return
-
Corduroy Frog, online credit card vendors such as Square have no monthly processor fee though there may be an upfront charge for the swipe device. I no longer use the swipe device. In my practice if a client wishes to pay by credit or debit card I go into my online square account, issue them an invoice which is emailed to them. The client may remit payment by clicking on a link to enter their credit or debit card details or ACH details for direct debit from their checking account. In doing so the fees are 2.96% for credit/debit or 1% for ACH. Yes, it is an extra step for me, but facilitates payment. I see vendors these days adding a credit card fee; I do not , or it is not separately stated since my fees for tax returns generally increase a bit every year. Oh, for direct deposit of refunds I require a voided check.
-
My experience has been a delay of 10-12 weeks after EF acceptance. Good news is IRS pays interest.
-
Changing to ATX for 1040 clients
Lynn EA USTCP in Louisiana replied to gebclsd's topic in General Chat
After conversion from your previous software check all the carry forwards - NOL, capital losses, 8582 limitations, depreciation . -
NAEA partners with Surgent for the SEE prep courses.
-
Client MFJ, wife out of country until late Oct.
Lynn EA USTCP in Louisiana replied to Max W's topic in General Chat
@Max, CSEA decoupled from NAEA a few years ago. One could join either organization without being required to join the other. Many current members of NAEA are from California. -
I've had at least 2 - 3 emails. My rep is Torez Brown - [email protected]
-
Enter the same numbers in FEIN format instead of SSN format.
-
Another Premium Tax Credit Question - Taxpayer over 400%
Lynn EA USTCP in Louisiana replied to gfizer's topic in ACA
It's really true for tax year 2020 !!! Prepare the 8962 and the bottom line will be -0- to be repaid.- 1 reply
-
- 1
-
My post should have stated ' will NOT be fixed' by ATX. Thanks Gail for understanding what I really meant to say.
-
My guess is it will be fixed for those of us LA, OK or TX. Would your client do a direct debit themselves at IRS dir3 t pay ?
-
How to report earned income with paying SE
Lynn EA USTCP in Louisiana replied to Pacun's topic in General Chat
Pacun, have you tried to use the foreign earnings worksheet (FECWKST)for this? No SE tax will apply with this worksheet. -
How to report earned income with paying SE
Lynn EA USTCP in Louisiana replied to Pacun's topic in General Chat
Yes, if all wages are excluded via 2555 then there will be zero wages upon which to calculate the EIC. -
How to report earned income with paying SE
Lynn EA USTCP in Louisiana replied to Pacun's topic in General Chat
If the earnings are $18K the HOH standard deduction would wipe that to zero amd leave the TP eligible for child related credits , without using form 2555. Take FTC a for taxes paid to Spain, if any. -
How to report earned income with paying SE
Lynn EA USTCP in Louisiana replied to Pacun's topic in General Chat
Use the foreign earnings worksheet , which should flow to the line for wages . -
Wish I had seen this 10 days ago.
-
Education Expenses - Scholarships
Lynn EA USTCP in Louisiana replied to Yardley CPA's topic in General Chat
the choice to include scholarship in income is done on the student's tax return, not the parents. click on the arrow on the wages line and a worksheet should come up. input the $ amount on the scholarship line. when you close that tab "SCH" should show on that line next to the $ amount. And yes, the scholarship amount (on the parent's return) is reduced by the amount included in income on the studen'ts tax return. -
Confused...Recapture Depreciation....Rental Property
Lynn EA USTCP in Louisiana replied to M7047's topic in General Chat
Yes , the depreciation is taxed -
Yardley, ATX will now send an email or text to the client, for a fee of course. On the 1040 Main Info tab, scroll down to the bottom of the page and see the info on Versicom.
-
Getting Calls on No Federal Estimated Withdrawal
Lynn EA USTCP in Louisiana replied to FDNY's topic in General Chat
I tried direct debit ONCE - on my own tax return. It did not end well and will never offer it to my clients. They are given vouchers (1040-V or 1040-ES) and advised to either send checks or pay online via IRS Direct Pay. I use IRS Direct Pay to remit my taxes. -
I would look to the operating agreement for any verbiage re UPE. If UPE is allowed, then I'd allow the OIH expenses, using the 8829 worksheet for an allocation. Totally unresearched caveat.
-
Return was filed weeks ago not accepted or rejected yet
Lynn EA USTCP in Louisiana replied to Yrags's topic in E-File
Delete the efile form . Save and close the return. Reopen the return and add the efile form.