Lee B

I guess I have a different take on this. The amount of clothing you would have to sell at second hand prices to total over $ 12k is mind boggling, probably at least $ 40 k at retail. I think additional inquires need to be made !

Also, some of the EIP payments were sent out as Debit Cards. The recipients threw them away not recognizing what they were. The IRS supposedly will follow up when the Debit Cards expire unused. What a circus with lots of monkeys !

Yeah, yesterday I finished my most tedious task for this month, 97 Forms 1095 C delivered to my client and mailed off to the IRS.

Since I am 74 now with several health issues I deal with every day, I find all the whining and complaining from all of you 60 year old youngsters highly amusing

Take a look at the SBA PPP Loan FAQs, which I believe addresses this situation.

Double check your print preferences

"The IP PIN will be valid for only one year. Each January, the taxpayer needs to get a new IP PIN"

IRS Announcement dated January 13, 2021: "The IRS is now opening mail within normal time frames. The IRS has also made significant progress in processing returns. As of December 25, 2020, we had 6.9 million individual tax returns in the processing pipeline. For refunds that could not be issued in 2020 because the tax return is being corrected, reviewed or awaiting correspondence from a taxpayer, the refund will be issued as a paper check in 2021 per our normal processes. Taxpayers are encouraged to continue to check Where’s My Refund for their personalized refund status. How long you may have to wait: It depends on where you sent your tax return and where it is in the process. In some locations, we are caught up or almost caught up. In other locations we are processing returns we received over the summer due to the extended July 15 tax filing due date and, in some cases, are processing tax returns dated as early as April 15, 2020. However, we are rerouting tax returns and taxpayer correspondence from locations that are behind to locations where more staff is available, and we are taking other actions to minimize any delays. Tax returns are opened in the order received. As the return is processed, it may be delayed because it has a mistake, is missing information, or there is suspected identity theft or fraud. If we can fix it without contacting you, we will. If we need more information or need you to verify that it was you who sent the tax return, we will write you a letter. The resolution of these issues depends on how quickly and accurately you respond, and the IRS staff trained and working under social distancing requirements to complete the processing of your return. What you should do: Other than responding to any requests for information promptly, there’s no action you can take. We’re working hard to get through the backlog. Please don’t file a second tax return or contact the IRS about the status of your return."

There were still 6.9 million unprocessed individual returns as of Dec. 25, according to the IRS. Some were filed as far back as April, according to the National Taxpayer Advocate’s annual report to Congress."

When I was still using ATX, in this situation I would have to delete the efile form, recreate the efile form, then it should go thru.

I think the SBA 's FAQs may address this issue.

Yeah, I saw that announcement when it came out. My main hesitation is that it only good for 12 months and you have to reapply every January, which has it's pros & cons

I expect we will find out when the IRS makes makes it's regular weekly announcements on Friday.

Copied from the IRS FAQs: 55. Should Eligible Employers withhold federal employment taxes on qualified leave wages paid to employees? (updated November 25, 2020) Yes. Qualified leave wages are wages subject to withholding of federal income tax and the employee’s share of social security and Medicare taxes. Qualified leave wages are also considered wages for purposes of other benefits that the Eligible Employer provides, such as contributions to 401(k) plans. In other language, the FFCRA specifically says that double dipping is not allowed.

The IRS started accepting efiled 1099s on the 8th, so the problem may be with your software provider.

What is "Medishare", all parts of Medicare are deductible as SEHI?

Sounds just like California

Yes it is a double dip, which the Consolidated Appropriations Act made legal.

1. Be very careful with EIDL Loans, There are a lot of very restrictive covenants that could hamstring a business. 2, Yes you can do both a PPP Loan and the retention credit, but you have to really thread the needle to make them both work together. 3. I have one client who qualifies for a second PPP Loan, which we are seriously considering since it offers the most flexibility.

Depends on when they passed away

Best to wait until 1040 efile reopens in about 3 weeks, otherwise you will be waiting until sometime this summer

Don't ATX programs install a server even on standalone computers?

The IRS will begin accepting business returns on Friday, January 8, 2021. Forms 1120, 1120S, and 1065 can be transmitted to Drake after installing the Drake Tax 2020 January release. E-File for form 990 will be enabled as soon as development and testing is complet

I pay $ 340 a year for $ 250,000 of coverage thru Hiscox.

I have a refurbished Acer Laptop and a refurbished Dell Optiplex Desktop and I haven't had any problems. From what I have read, most refurbished items are subject to fairly extensive testing before they're sold.