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About cbslee

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    ATX Supreme Master

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  1. I believe the product key that you need is the one for your current Win 7 OS.
  2. 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
  3. cbslee

    EFIN question

    I agree, I have had the same EFIN for about 20 years.
  4. Why wouldn't you charge for amendments, unless the amendment is your fault ?
  5. 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.
  6. 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.
  7. I have several clients who have SMLLCs for their rental real estate holdings. Since the SMLLCS are disregarded entities for tax purposes, everything is reported on Schedule E. Your client's situation is really no different except that the transactions will be reported on Schedule B, D and Form 8949.
  8. Yeah, I have a client with 4 employees who insists on manually calculating his paychecks. The WH calculations are all over the place, then I have to clean it up when I do the ATF recordkeeping.
  9. If you just have a few 1099s, use one of the many online programs that are available. If you search the board you will find a thread from earlier this year where posters recommend different online programs. I used a program called OnlineFileTaxes.com, which was reasonably priced and worked well. Drake Accounting requires you to obtain a TCC code from the IRS, so it's not as easy to use as ATX Payroll Compliance.
  10. In my experience, the CA FTB is probably the most aggressive state revenue agency in the country. You can try claiming your client doesn't have nexus and maybe it will slide by. My opinion is that they do have nexus.
  11. Well you are fortunate that they apparently know a lot more about NC payroll taxes than Oregon's payroll taxes. After all NC is their home state. As far as Medlin goes, yes email is their primary support mechanism. I have always received a response within 20 or 30 minutes. Medlin is definitely a stickler for following payroll rules and regulations, therefore they won't help you bend the rules. They aren't a very big company so they can't really do phone support. The program is extremely flexible and very efficient. Medlin would not be a good program for someone that doesn't already have a good understanding of payroll.
  12. The IRS has released the following FAQ : https://www.irs.gov/newsroom/faqs-on-the-early-release-of-the-2020-form-w-4
  13. The IRS is underfunded, understaffed and probably won't be caught up until sometime next year. It is what it is, work with it.
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