Lee B

You do have one other option, you can do a wire transfer.

It turns out you can't fill any blank fields, which Adobe considers "editing." You're immediately prompted to sign up for their free 7 day trial which requires your credit card number. Perhaps it's not a "bait and switch", but it's definitely misleading! I have removed the extension because my biggest need is to be able to fill out pdf forms which aren't designed to be "fillable."

Copied from Accounting Today: "Advance Child Tax Credit payment “This is the biggest concern coming to the end of the year,” mentioned Mankowski. “There will need to be a reconciliation on Form 1040 similar to what was done for the stimulus payments. There might be a bit of a learning curve involved, but once a preparer gets through the first several returns it won’t be a significant issue.” “But for many taxpayers, the advance payments will cause them to receive lower or no refunds, and there may be some surprises for those that end up owing money,” he added. “Over the years they’ve seen smaller refunds as a result of the new Form W-4, which was intended to get taxpayers closer to a breakeven point so they would have a little extra money in their pockets to spend during the year. Now with the ACTC, many will get less back, or will owe.” If a taxpayer received payments for two children based on the 2020 return and they don’t claim both children in 2021, they would need to repay the excess on their return, unless protected under the law, he explained. Safe harbor protection only pertains to qualifying children and is based on adjusted gross income. Schedule 8812 (Form 1040) has been reformatted to account for these payments. “The IRS will send out Letter 6419, an end-of-year statement that outlines the payments received as well as qualifying children. It’s scheduled to be mailed in January,” he added. The ACTC was not subject to offset, Mankowski observed: “It’s possible that one taxpayer could receive the ACTC based on their 2020 return and have repayment that was covered under the safe harbor, while the other taxpayer, who can legitimately claim the child, can also get the credit on their 2021 tax return, so there’s the potential for the CTC to be received by both parents."

"In early 2022, the IRS will send Letter 6475 that contains the total amount of the third Economic Impact Payment and any Plus-Up Payments received. People should keep this and any other IRS letters about their stimulus payments with other tax records. Individuals can also log in to their IRS.gov Online Account to securely access their Economic Impact Payment amount."

"In January 2022, the IRS will send Letter 6419 with the total amount of advance Child Tax Credit payments taxpayers received in 2021. People should keep this and any other IRS letters about advance Child Tax Credit payments with their tax record."

Another unscheduled Chrome update needed to address 20 active security hacks: "Chrome is up to date Version 96.0.4664.93 (Official Build) (64-bit)"

Yeah, I saw that article. Choosing which hardware, software and online services to use is a real balancing act. There are a lot of pros and cons everywhere you look.

Customer support for many services and companies is definitely getting worse for many different reasons. Customer support at the payroll software company that I have been using for the last 9 years has become unreachable. Fortunately, after January, I will no longer need their services.

The Adobe browser extension gives you all of the standard Conversion, Edit and Sign & Protect functions. However, if you just want to open a pdf to read and/or print, it's faster to use your desktop Adobe Reader because there is a noticeable time lag when opening a pdf with the browser extension.

Recently Adobe has made available a free extension to the Chrome browser, which makes available a number of features for which we previously had to pay. I have added it to my browser and after I have used it I will make some comments. The advanced features are still reserved to paid subscribers.

"Business MeF Production Shutdown Schedule Shutdown for "Send Submissions" only is scheduled to begin at 11:59 a.m. (noon) Eastern time, Sunday, December 26, 2021."

The last several years I have been more insistent on my clients completing the organizer and signing both the organizer and the engagement letter. Being a one person office, I had slowly become too lax about procedural stuff like this.

This in depth article in The Tax Advisor should answer all of your questions: https://www.thetaxadviser.com/issues/2021/aug/comparing-stock-asset-sales-s-corporations.html When you say tender his shares, if that means back to the S Corp then it doesn't appear to qualify.

Notice 2020-75 "The IRS indicated that future regulations would allow flowthrough entities to deduct state and local income taxes paid at the entity level, in lieu of including all or a portion of that income at the individual level where a deduction would not be allowed." Vasquez v. Commissioner, TC Summary Opinion 2021-32 "The Tax Court, under pre-2018 law, denied travel expenses for an individual who worked 237 miles from his residence, despite his work being temporary and lasting less than one year in that he was regularly reengaged on new jobs; thus his tax home was where he worked and slept in a trailer, rather then where his family resided and where he returned on weekends." Toulouse v. Commissioner 157 TC No. 4 "The Tax Court ruled that the Foreign Tax Credit may not offset the Net Investment Tax, as it is not a “Chapter 1” tax." Richlin v. Commissioner, 128 AFTR2d 2021-5969 "The Ninth Circuit Court of Appeals agreed with the Tax Court that a divorcing husband was entitled to all overpayment credits from a joint return and all estimated tax payments, as the parties had a prenuptial agreement that made him responsible for all tax liability not related to separate property of his spouse." Chief Counsel Advice 202142010 "The IRS stated that issuance of a closing letter to an estate does not preclude subsequent examination of the return."

You are right the explanations are limited or non existent. I have also had the same thing happen with a few state notices. So far I have figured out the changes, but a few times I was down to my 3rd possible scenario before it made any sense.

Yes, I filed one that way early this year.

Exactly my point

It appears to me that you have interpreted the issue correctly. I think that the date of incorporation and the state of incorporation are "state" related questions not "federal" related questions and that is why I would leave the questions blank.

The instructions don't address this, but I would leave them blank.

There are a number of online reviews which detail the differences, pro and con.

Why would anyone risk using an OS that your software provider won't support? You risk mid tax season being up the crick without a paddle?

My fifth PPP Loan Forgiveness application was just approved. One more to go. Interesting, all of the approvals took 5 business days. I am getting the feeling the SBA is just going thru the motions.

Did you have any clients who were sure that they didn't receive one of the rebates and how did you handle that?

Some months ago, I logged into my Secure Access account to check the details of my rebates. While it shows that the rebates were disbursed, there wen't any details of how the funds were distributed.

I have a client who swears he didn't receive first stimulus rebate, so I efiled his return claiming the Recovery Rebate Credit which resulted in him expecting a refund, which was applied toward his estimated payments Four months later he received a CP 11 saying that according to IRS records he received the $ 1,200 rebate and instead of a refund he now owes about $ 300. So now he will potentially be subject to penalties and interest for late estimated payments. I have no idea how this will get resolved.