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cbslee

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  1. Do you need a certified appraisal or just a fairly good idea of what things are worth?
  2. Yeah, my bank is paying 00.01 %
  3. Perhaps you should let her know about how to "opt out."
  4. Very interesting, since several commentators specifically refer to the City of Chicago of having a history doing this exact thing. Well, they won't issue a corrected W 2, so you will have to be creative
  5. Weird, did he receive one W 2 with this information or did he receive an additional W 2 with this information? Was social security and medicare withheld? An quick online search didn't find this memoramdum. Other online commentators say that a corrected W 2 needs to be issued and that the employer is just being lazy.
  6. Are you asking about Workers Compensation wage benefits, short term disability benefits or something else?
  7. You may have noticed that their basic CP notices now have QR codes on them. They will be pushing CP Notice recipients to download an IRS App and use AI Bots to handle standard notices without human intervention. It may fail, but it's clear to me that the IRS is totally committed to this direction.
  8. I have several clients whose cell phone is an addtnl line on a relative or a friends account, in which case setting up secure access will fail, since the name and the address on the cell phone account will not match.
  9. "Taxpayers should file an amended return if they: 1. did not submit a Schedule 8812 with the original return to claim the Additional Child Tax Credit and are now eligible for the credit after the unemployment compensation exclusion; 2. did not submit a Schedule EIC with the original return to claim the Earned Income Tax Credit (with qualifying dependents) and are now eligible for the credit after the unemployment compensation exclusion; 3. are now eligible for any other credits and/or deductions not mentioned below. Make sure to include any required forms or schedules. Taxpayers do not need to file an amended return if they: 1. already filed a tax return and did not claim the unemployment exclusion; the IRS will determine the correct taxable amount of unemployment compensation and tax; 2. have an adjustment, because of the exclusion, that will result in an increase in any non-refundable or refundable credits reported on the original return; 3. did not claim the following credits on their tax return but are now eligible when the unemployment exclusion is applied: Recovery Rebate Credit, Earned Income Credit with no qualifying dependents or the Advance Premium Tax Credit. The IRS will calculate the credit and include it in any overpayment; 4. filed a married filing joint return, live in a community property state, and entered a smaller exclusion amount than entitled on Schedule 1, line 8."
  10. I took their pre rollout webinar about a month a go. This will be a gradual rollout with incremental improvements. In the beginning it will only apply to individuals and Form 1040. First, your clients will have to set up a "Secure Access" account, so this may not work too well with your clients who are not computer savy.
  11. "Intuit has decided to leave the Free File Alliance after coming under criticism for making it difficult to access a truly free version of TurboTax."
  12. Multitasking means doing many things poorly
  13. Given the absence of current information, if I were in your shoes, I either would suspend the loss or put these returns on the back burner. It sounds like you are trying to do more than your share of heavy lifting on this group of returns!
  14. A Lockup Period is an Investment Marketing Device which is not required by the SEC and has no tax implications.
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