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About cbslee

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    ATX Supreme Master

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  1. About 10 years ago Oregon had a tax amnesty. I prepared 11 years of regular corporate returns . My client filed the state returns and did not file the federal returns. My client paid Oregon the corporate tax due plus 1/2 of the interest. The state waived all penalties and 1/2 of the interest. The next year I prepared and my client filed both federal and state corporate returns, which we have done every year since then. To my surprise, my client has never received any letters from the IRS about the missing 11 years of Form 1120.
  2. I am definitely leaning towards having a new computer built with a clean install of Win 8.1 that includes a free upgrade to Win 10.
  3. Copied from Tax Pro Today: IRS Modernized e-File (MeF) will be upgrading systems over the summer and will be unavailable at certain times, the service announced. The system shutdown will occur in two phases: 12:01 a.m. EST July 18 to 12 p.m. EST on July 22; and, 12:01 a.m. EST Aug. 3 to 12 p.m. EST on Aug. 5. MeF submissions should not be made during the outage periods. A Quick Alert bulletin will be issued once the MeF is available for submissions, the IRS said.
  4. You could also check out TextMagic
  5. I am surprised they got this past the lobbying efforts of all the online vendors ? Here is a copy of section 2102: 2102. Internet platform for Form 1099 filings (a) In general Not later than January 1, 2023, the Secretary of the Treasury or the Secretary’s delegate (hereafter referred to in this section as the Secretary) shall make available an Internet website or other electronic media, with a user interface and functionality similar to the Business Services Online Suite of Services provided by the Social Security Administration, that provides access to resources and guidance provided by the Internal Revenue Service and allows persons to— (1) prepare and file Forms 1099; (2) prepare Forms 1099 for distribution to recipients other than the Internal Revenue Service; and (3) maintain a record of completed, filed, and distributed Forms 1099. (b) Electronic services treated as supplemental; application of security standards The Secretary shall ensure that the services described in subsection (a)— (1) are a supplement to, and not a replacement for, other services provided by the Internal Revenue Service to taxpayers; and (2) comply with applicable security standards and guideline
  6. I agree that this is the conversation that should be held. However, Medlin is correct, the process of creating for a game or an app for the first time is a very long journey. Second, most young adults who have never been in business don't even have the base of knowledge to participate in this discussion. Their eyes will glaze over before five minutes elapse.
  7. cbslee

    Login Error

    You made virtually the same post back on the 21st. Are you trolling?
  8. cbslee

    3115 help II

    It looks like checking the yes or no box on line 27 takes care of this ?
  9. I believe the product key that you need is the one for your current Win 7 OS.
  10. Copied from Tax Pro Today: In the first step of what could be a lengthy process, the House Ways and Means Committee voted 25-17 on June 20, 2019, to advance the tax extenders bill, which would temporarily extend a number of tax breaks that expired at the end of 2017 and 2018, or that will expire at the end of 2019. “These extender provisions have been in the Tax Code for many years, and Congress has continued to extend them,” said Jorge Castro, former senior advisor to the IRS commissioner and currently a member of the tax practice at law firm Miller & Chevalier. “They haven’t been made permanent, but they are a group of different provisions that have diverse constituencies that care about them,” he said. “For example, it includes tax benefits for tuition expenses, and a mine rescue team training credit. This was in response to a coal mining tragedy in West Virginia in 2006, and covers training program costs for mine rescue team employees.” “Other incentives in the extenders include provisions for the renewable energy sector, the New Markets Tax Credit for economic development, and the Work Opportunity Tax Credit,” he said. “The point it that it’s a large package that has a lot of constituencies that care about these tax provisions. Most of these provisions have been expired for a year and a half, so they will be retroactively extended back to Jan. 1, 2018. This package will not be made permanent, but the hope is that Congress at some point in the future will try to address them permanently.” “Different provisions are important to different sectors, which is why the package currently has momentum,” he said. “It is generally bipartisan and bicameral, but the different chambers will disagree on how to enact it. Senate Finance Committee Chairman [Charles] Grassley and ranking member [Ron] Wyden have a clean extension -- just the extenders with nothing added. However, the bill that the House Ways and Means Committee marked up makes some changes, with which Republicans generally are not in favor.” Specifically, the Ways and Means bill contains an offset to the extenders. It would “pay for” the extenders by accelerating the expiration of the higher estate tax exemption levels from 2025 to 2022. (Under the Tax Cuts and Jobs Act, the exemption increased from $5.5 million to $11 million for individuals, and from $11 million to $22 million for couples. “This is obviously just a first step in many important steps,” said Castro. “Senate Republicans have raised objections to the changes the House bill would make to the estate tax -- that’s just part of the negotiations,’ he said. “And [Ways & Means Chair Richard] Neal, on the House side, is under pressure to make this package fully paid for with revenue offsets so it will be a point of contention between the House and the Senate. Neal made the comment that they would look for more offsets by the time the bill hits the floor of the House.”” Although the markup is complete, the timeline is fluid, according to Castro. “The provisions have already expired, so there’s an urgency on that end to pass the legislation,”he said. “I can see this play out over the next several months, and possibly into the fall.” And the possibility that the package may pass in late fall is one more complicating factor facing practitioners as they prepare for the filing season
  11. cbslee

    EFIN question

    I agree, I have had the same EFIN for about 20 years.
  12. Why wouldn't you charge for amendments, unless the amendment is your fault ?
  13. Copied from Tax Pro Today: Technical corrections While a number of errors have been identified in the TCJA, Democrats have been reluctant to help the Republicans correct errors in legislation that passed without Democratic input without getting something in return. That issue continues to be the impediment to passage of technical corrections. A “grain glitch” in the TCJA was corrected in budget legislation early in 2018 by giving something to the Democrats on low-income housing. A so-called “retail glitch” involving the depreciation of leasehold improvements, retail improvements and restaurant property (referred to as qualified improvement property under the TCJA) and an error in the dates applicable to changes to net operating losses are the two most substantive errors for which corrections are being sought. The repeal of the Kiddie Tax changes made by the TCJA, as proposed in the current retirement legislation in Congress, could also be viewed as a TCJA correction. Ways and Means Committee Chair Richard Neal, D.-Mass., may seek an expansion of the Earned Income Tax Credit and the Child Tax Credit as part of any bargain. Some Republicans and Democrats from high-tax states are also pushing for repeal of the TCJA limit on the state and local tax deduction. However, this is viewed as a fix that would largely benefit higher-income taxpayers, and Democrats may not want to focus on that with the theme of the 2020 election campaigns being help for the middle class. There is also a bipartisan bill to restore a deduction for performing artists that was removed by TCJA. In spite of the clear unintended consequences in the TCJA for qualified improvement property and net operating losses, movement on technical corrections does not seem to be a top priority in the House and might not get enacted in 2019.
  14. Copied from Tax Pro Today: Expired tax breaks Approximately 30 tax breaks that had been given short-term extensions over a number of years expired at the end of 2017. There had been some debate as to whether those tax breaks would continue after the Tax Cuts and Jobs Act, but Congress extended them through 2017 in early 2018, resulting in some need to revise software systems and tax forms for the 2017 tax return filing season. Congress is again considering what to do with those expired provisions well after their expiration. The initial proposal had been to extend them retroactively for 2018 and preserve them for 2019. As time passes without enactment, however, the chances increase that many of those expired provisions will not be extended. Another issue that may push some of the tax breaks to the sidelines is that Democrats would prefer that any extension be paid for, but offsetting revenue-raisers appear to be in short supply. Besides a few individual tax breaks, most of the expired provisions relate to energy or to specific industries. Democrats have been working on a more simplified structure for energy tax breaks, focused on renewable energy, and that initiative might replace many of the energy-related expired tax breaks. Lobbying activity continues in an effort to restore a number of these tax breaks, including credits for biodiesel and railroad track maintenance, but, as time passes without action, the number of expired provisions likely to receive retroactive extension, or any extension at all, continues to diminish.
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