Lee B

One of the key reasons that I left ATX for Drake was that it took too long for ATX to make state forms available.

Are you an attorney? Check the instructions for SS 4

Oregon has Commercial Activities Tax based on gross receipts which is due and payable even if you have a loss. In my state the partnership would pay the tax. Some people refer to it as a "back door" sales tax.

If you contact a member of Congress, you will need to have all of your documents assembled

Yes, mine is an add on to my General Business Liability package

"WASHINGTON — Senior lawmakers in Congress announced a bipartisan deal Tuesday to expand the child tax credit and provide a series of tax breaks for businesses." "The deal, would enhance refundable child tax credits in an attempt to provide relief to families that are struggling financially and those with multiple children. It would also lift the tax credit's $1,600 refundable cap and adjust it for inflation." "The deal includes expensing for research and experimental costs, restoration of an earlier interest deduction, an expansion of small-business expensing and an extension of bonus depreciation, according to a section-by-section summary released by the two tax-writing committees."

I just find a note form online and fill in the details and print a loan amortization schedule if needed.

The Tax Advocates Assistance Tool https://www.taxpayeradvocate.irs.gov/can-tas-help-me-with-my-tax-issue/ Form 911 https://www.irs.gov/pub/irs-pdf/f911.pdf

Members of the Senate and the House have priority access to the Tax Advocate's taxpayer assistance service.

This information should be disclosed in Box 17 code AD for any K-1 prepared with a MN resident stockholder.

Don't know about this year but in previous years, the efiling thru acknowledgement process can often take 4 to 7 days.

This increase is part of the potential agreement for another Continuing Resolution to avert the looming government shutdown on January 19. "If Congress reaches a deal on the child tax credit by Jan. 29, lawmakers say eligible families could benefit as soon as next month. That’s because the credit would be available for the 2023 tax year (for tax returns filed early in 2024). However, the expansion, if it does happen, won’t reach as far as it did under President Joe Biden’s American Rescue Plan. Here are some of the possibilities Congress is discussing: Ensuring families with the lowest incomes will qualify for the credit by removing the minimum taxable income threshold Allowing families to submit prior year tax returns to claim the expanded credit Increasing the refundable portion of the child tax credit None of the above possibilities are official, and the details could change as Congress continues to discuss the matter. However, families with the lowest incomes would likely benefit the most." Just what we need another last second change in tax law

I really dislike hypothetical posts because the poster often leaves out important details based on their own preconceived idea of what the answer should be.

OK, here's my excuse. Every year I prepare about 80 1095 Cs for my largest client who is an ALE who does not provide health insurance to their employees. So I was focused on the deadline for filing the 1095 Cs since it takes me about 11 or 12 hours to prepare them.

Excerpts from the report that caught my attention: https://www.taxpayeradvocate.irs.gov/reports/2023-annual-report-to-congress/ "Extraordinary delays in assisting victims of identity theft. At the end of fiscal year (FY) 2023, nearly half a million taxpayers with cases pending in the IRS’s Identity Theft Victims Assistance (IDTVA) unit were waiting an average of almost 19 months for the agency to resolve their identity theft problems. " "Delays in processing amended tax returns and taxpayer correspondence. Despite the IRS’s success in eliminating its backlog of paper-filed Forms 1040, backlogs in processing amended individual income tax returns (Forms 1040-X), amended business tax returns and correspondence continued. At the end of calendar year 2019 (the most recent pre-pandemic year), the IRS’s backlog of unprocessed amended returns stood at 0.5 million. By comparison, the backlog as of late October 2023 was 1.9 million – nearly four times as much. Taxpayer correspondence and related cases more than doubled over the same period, from 1.9 million to 4.3 million. In addition, the percentage of correspondence cases classified as “overage” in 2023 reached its highest level in recent years, with nearly 70% of pending cases exceeding normal processing times as of late October. " For the 2023 filing season, Treasury set a goal of achieving an 85% “Level of Service” (LOS) on the IRS’s toll-free telephone lines, and that required staffing the telephone lines at levels capable of handling most calls during peak periods. However, the report says that meant CSRs often were “simply sitting around waiting for the phone to ring.” During the 2023 filing season alone, CSRs spent 1.27 million hours (34% of their time) waiting to receive calls. That translates to more than 650 unproductive staff years in which these employees could have been processing paper and reducing response times for amended returns and correspondence." It sounds llke the IRS has been playing "Whack A Mole" They shifted staff to answering the phones since that was what everyone was upset about.

At my age, it's possible who knows

Copied from the instructions for Form 1095 C: "An ALE member must furnish a Form 1095-C to each of its full-time employees by March 1, 2024, for the 2023 calendar year. See Extensions of time to furnish statements to recipients . Which means that clients wanting their return prepared early very well may not have received their Form 1095 C yet.

Definitely

I wouldn't do it, but is it any different than paying for an extended maintenance contract on a car or a dishwasher?

Post the amount paid on Schedule 3 Part II Line 13 z, assuming she has some proof of payment.

Well, this question definitely pushes the creative envelope

WASHINGTON —The Internal Revenue Service today announced Monday, Jan. 29, 2024, as the official start date of the nation’s 2024 tax season when the agency will begin accepting and processing 2023 tax returns." I am a bit surprised it's this late.

Yes I have used Hiscox for years.

Copied from the MeF Status Page: "Filing Season Start Dates: Business tax returns: 9:00 am Eastern January 16, 2024 Individual tax returns: TBD"

Efiling of 1099s doesn't reopen until the 10th so you have Monday and Tuesday to get it fixed.