Margaret CPA in OH

You probably recall that ATX required the presence of 1041 in the client file in order to process the 1041A and 5227. So I guess that is the TRX method, as well. It was so aggravating as the letter always referred to the 1041. Tech support couldn't grasp that this is a different animal. Even now I find it annoying that the Type in the left list is "Other" rather than "Fiduciary" and that the Type in the columns is the dreaded "Info Sheet" which means just about anything. But we manage...

I believe you are correct. If you read through the forms and instructions you will have noted that the details that used to be included on the 1041A are now on the expanded 5227. This and last year have been so much easier. Unfortunately it cannot be efiled but it's still better! And thanks, it has been a great day. The end is in sight!

:bday: and many more! You share this special day with august company!

:bday: to us, to us, to uu-us... to us! Many, many thanks to Eric and all the family of contributors who keep us all keepin' on! Special thanks to Taxbilly for keeping track of the birthday celebrations, too!

:bday: and many, many more! Where would we and this board be without your wisdom and wit? Thanks for sharing so much of both for all these posts. Have a great birthyear!

Isn't it interesting, though, how many state and local agencies are not remitting refunds under $1 or even $5? Yet my son received a correction on his return from the state. For 29 cents. Yes, for 29 cents. I have no idea how that could be because we file in whole dollar amounts. I have yet to see the letter. It did say not to pay if under $1. Wonder how much it cost to process and mail that sucker?

Shucks! Thanks so kindly to all. I do try to offer good things and welcome being set straight when misspeaking. The best thing is the board kindness in sharing the accumulated wisdom and advice and, of course, moral support along the way. And don't forget those birthday wishes which, frankly, helped me get to this august number of posts. But it feels like family to share them. Let's go gettem' these last few days, folks, then PARTY!

Indeed, I have been filing a physician and her musician househusband as taxpayer and spouse (guess who is who) for about 7 years now.

Jasdim, I believe the correct term on this board is "frikkin." Unless of course you have a different meaning by "Friggin." But yeah! Where has he been? He'll likely say working but who really knows?

Thanks to you both. They most certainly are not for profit as they have to chip in a little extra from time to time to cover costs. They are not a c anything as they have never filed for a determination of exempt status as stated in my original post. Money from dues has been collected but I don't know what other receipts there have been. I believe they have sponsored speakers and may have charged fees and paid them but will check. This is in Ohio. I will ask more about gross receipts and expenditures and accounting for same as well as deposits. My guess, and it's only a guess, is that they do have a checking account. My contact with all the questions has few answers but the incoming president is a retired attorney. I have asked that she be the next contact. We'll see. Thanks again for responses especially at this busy time. Maybe by next year, all will be sorted out.

Thanks for your responses. They are not incorporated or listed in any way with the state. Nor have they filed for an exemption status with IRS. The only thing they have is a long history and an EIN from IRS. I just want to know if they have any filing requirement. Because they have and gave out their EIN to a vendor, they have received a 1099-MISC. Will IRS be looking for something? If so, on what form? They are an association. I am baffled.

Anyone with any ideas at all?

Wouldn't the client have a 2004 or earlier return with her number on it? If not, you or client can request a copy of a jointly filed return from a prior year from IRS.

How did the client dispose of his ownership interest? Did he sell to other owners or back to the corporation? The corporation has the option of closing the books as of the change in ownership or simply allocating in the program the percentage ownership during the year. So long as he was a shareholder, he should receive the allocable share of profit or loss (given basis)on a K-1 for that period of ownership. I don't immediately see why or how he was not on the payroll as an owner, assuming that this is a corporation (shareholder is your term). If this was a partnership, that another matter. More information would be helpful.

:bday: and many more!

I recommend again CMI Software (cmifixedassets.com). I use the Demo version and pay $99 annually for updates and tech support. It keeps Tax, Book, and AMT and is pretty easy to use. I have 18 different companies and always reconcile the amounts with the bookkeeping software and tax software. I works for me and the price is right.

Today, yes, today, wife of clients call to ask about the unincorporated association to which she belongs - a 'club' or something at the university dating back to the turn of century. In 1977 they received an EIN but no one knows what the application stated as to entity type. They do not have a tax-exempt letter so status is apparently taxable but what, if any, filing requirement would they have? I can't find anything on the IRS website about such creatures. My reference, "Tax Planning and Compliance for Tax-Exempt Organizations" by Jody Blazek mentions unincorporated associations but only in the context of applying for exempt status. Any ideas as to filing requirements for this group? Thanks!

:bday: and many more!

It is good that we all lift up each other because, as evidenced by these posts, many are suffering without telling others for whatever the reason. MargaretMort and bstaxes, thank you for sharing so that we can put names and personalities to our thoughts and prayers. We all celebrate together and we share burdens and sorrows. As was said, this is more than just a community, it is an extended family.

OMG! Where did you get that picture of me? It was supposed to be just a little friendly gathering of, you know, little old ladies...

Whoa, KC's on a roll today! We all really need some chuckles 'bout now so much appreciated!

:bday: and many more!

:bday: and many more!

Thanks for the great tip! I was wondering, though, if that was needed if the return is efiled. I mean, I thought the barcode was for mailing. And when I prepare to efile, I don't get the message that the number of pages is needed. In any event, I do appreciate the clever way you have provided.

I have a MA return for a client. When I run the check, I get a red message that I have to enter the total number of pages to correctly print the state required 2D barcodes. I am hoping to efile but need to send the paper client copies for these elderly folks to look over first. When I create the efile, the message does not appear. Any worries?