Lynn EA USTCP in Louisiana

Lion - I'll help you with your tax returns if you wish .

I would copy just your (new) client's info and shred the rest. I would not give back the return as is. Lynn

I suggest you consider charging your highest hourly rate x the amount of time it takes you to prepare the form.

Yes - it is strictly the employER's choice to opt in or out.

The banking lobby has pushed for forgiveness of loans under $150,000 but that bill languishes. My bank just sent notices to its customers stating that they are currently entertaining forgiveness applications only for loans over $150,000. I have no doubt the banks are waiting until further action on their bill before asking those with. Loans under $150,000 to submit forgiveness applications.

Yes, I believe ATX is ready for this. I think yesterday's news release from ATX said they would start accepting efiled 1040X on 8/19. Just yesterday I downloaded the updated 1040-X.

I cannot help you as I never got past the part of the prospective's inquiry as to how much? So, my CAA was non-renewed by IRS since I did not submit the required number of W7 applications within the prescribed time period.

IRS expects to accept efiled amended 2019 returns 8/17/2020. I have not heard when ATX will be ready for this.

Have you completed the housing allowance worksheet ??

I'd like more clients but not those of the tire kicker variety.

Actually there is. If you scroll down on the Main Info page of the 1040, towards the bottom there is info re Versicom. AFAIK it is an additional fee paid service add-on and they will send either an email or a text message. I have never used it.

I think I saw this in my newsfeed today on the ATX tax program

Box 2 has a sub box which says something like ‘include amount rolled over ‘ .

AFAIK the main topic was extending application for the PPP program to 8/8/2020

UI benefits for corporate owners is state specific. I a pretty sure that here in Louisiana corporate owners (c or s), while required to pay into the system based on their earnings are ineligible to collect UI benefits should the company close its doors. The basis for that is the corporate owner has decision making powers to determine when/if the entity closes.

W2 is always proper for a minister employed under contract with a church. It should reflect housing allowance in box 14, zero social security, zero Medicare, and box 1 earnings in excess of the housing allowance. I have seen W2’s with only the box 14 h.a. Entry. There are examples in Hammar’s or Worth’s clergy resources.

Only those returns which had a 4/15 due date were given a revised due date of 7/15 and the ability to file an extension between 4/15 and 7/15. 1120S and 1065 were due 3/15 and were not afforded this relief; extensions for 1120S and 1065 should have been filed by 3/15.

NAEA posted earlier today that IRS will be ready for 2019 1040X 8/17/2020 . How long it takes the software to make it available to their subscribers is another question altogether.

AFAIK mid July or thereabouts

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 IRS website Mar 30, 2020

I contact the client and ask them to confer with the broker to provide the information. The information is there, and someone (but not me) has to track it down.

I have two that contact me about this same issue, both were efiled first week of May.

https://www.sba.gov/sites/default/files/2020-05/3245-0407 SBA Form 3508 PPP Forgiveness Application.pdf Posted by SBA 5/15, though SBA officials on a webinar a week ago said it would probably be revised and to not use it until revisions are promulgated. Banks may prefer to use their own internally produced form.

Yesterday WK sent a second email stating the first was an error and to ignore it. I had already gone into my ATX account and paid the &5 due for a prior year return efiled recently.

Margaret, I will pay the $5; just was venting my frustration that they waited 2-1/2 years to bring it to my attention. Credit charge failures occur for me at least once a year (if not more often) due to generally an annual problem with someone trying to hack my credit card account. It is a chore to change the automatic debit arrangements when that happens. Thanks for your reply.