Lee B

In the next 8 months there will many online articles abut this topic which will analyze all the in and outs

"Intuit to cease support for QB Desktop 2020 at month's end"

Are you referring to Form 8822-B? The current revision is dated December 2019? The related penalties that I know about are related to unpaid employment taxes, especially unpaid Trust Funds?

Yeah, I wish our site would allow editing of our posting up to 20 minutes later.

The information should be reported in Box 20 code Z which should have a supplemental page with the details that you need.

I already know that my Win 10 desktop will not run Win 11.

My backup computer is still Win 7, but I rarely use it. It won'run my tax software, my payroll program or my accounting program. Even my browser can't be updated, so I can't use it for much of anything.

The beta version of Win 12 was released last month. The full version of Win 12 is expected to be released mid 2024. b

No, but it does say something about our younger generations who do everything on their phone. Supposedly, the website was only up for 2 weeks and has now been taken down.

"More than 20 years ago, the IRS struck a deal that gave most Americans the ability to prepare their taxes online for free. Today, only about 3% of eligible taxpayers use the service. Tax Heaven 3000 takes users on a series of dates with Iris, who will ask questions to help them complete their federal tax return. The game's creator says the aim is to punch up at the tax prep industry, and show how unnecessary it's become." It will only prepare your 2022 Federal Tax Return and works best for the single filing status.

I am still on Win 10 and I have had no issues.

"Windows 10 22H2 will be the final version of the operating system, Microsoft said in a blog post on Thursday. Moving forward, all editions of Windows 10 will be supported with monthly security updates until October 14th, 2025, when Microsoft will end support."

We all know how the TCJA significantly reduced the deduction of Home Office expenses. Just read an article that a workaround was to use an Accountable Plan to deduct the same expenses. Just set up an Accountable Plan and reimburse the S Corp or C Corp owner/employee on a monthly or quarterly basis for all of the same expenses that you would deduct for a Schedule C Home Office including mortgage interest, utilities and depreciation. I have never run across this idea before. Just wondering what everyone thinks of this approach?

"Thanks to Inflation Reduction Act resources, the IRS delivered dramatically improved service in Filing Season 2023.The IRS achieved 87% Level of Service, exceeding Secretary of the Treasury Janet L. Yellen’s goal of 85%. The agency also answered 2 million more calls through live assistance, cut phone wait times to four minutes from 27 minutes, served 100,000 more taxpayers in-person, digitized 80 times more returns than in 2022 through the adoption of new scanning technology, cleared the backlog of unprocessed 2022 individual tax returns with no errors, launched two new digital tools, and enabled a new direct-deposit refund option. This marks a vast improvement over 2022, when, due to a lack of resources, the IRS hit just 15% Level of Service to taxpayers and millions of refunds were delayed for months." I made several time consuming calls regarding Form 941 last year , but no calls this year. I still have a unresolved CP 2000 that I originally responded to by mail back in December 2021?

Banks that I am familiar with will reroute deposits, but they will not reroute debits unless you give them a list of outstanding checks and other debits.

You should be able to enter it from a 1099 worksheet using the bank's EIN.

Is this an actual client or a hypothetical scenario?

According to CCH Answer Connect: "The passive activity loss rules generally limit the ability of taxpayers to shelter salaries, wages and interest income with deductions and credits from passive activities, that is, trade or business activities in which the taxpayer does not materially participate. Under the passive loss provisions, taxpayers can generally only deduct a loss from a passive activity to the extent of income generated by the taxpayer's other passive activities. The passive activity loss cannot be deducted against salary, self-employment earnings or investment income from dividends or interest. Any disallowed passive activity losses are carried forward indefinitely (suspended) and deducted from passive activity income in future years until the taxpayer either has offsetting passive income or disposes of his or her interest in the passive activity (or substantially all of the activity) in a taxable transaction. Similarly, credits from passive activities that exceed the tax liability allocable to passive activities for the tax year must be suspended and utilized to offset tax liability from passive activities in future tax years."

Actually id.me is only used by the IRS, SSA, VA & the Patent Office. Most federal agencies use Login.gov

Adjusted Gross Income or Artificial Generated Intelligence Aren't acronyms wonderful?

At a minimum your questions deserve a 4 Hour CPE class

"Blame Colorado. Beginning in 2022, the state began imposing a retail delivery fee on retail sales of tangible personal property delivered by motor vehicle to a location in the state. In order to apply, the sale had to include at least one item of tangible personal property subject to sales or use tax. The retailer is required to collect the retail delivery fee from the purchaser and remit the fee to the Colorado Department of Revenue. " "Significantly, Minnesota and New York are now proposing their own retail delivery fees, similar to the Colorado statute. In fact, Minnesota is looking at raising its proposed retail delivery fee from 40 to 75 cents. " "Not surprisingly, the Colorado fee has drawn criticism from the business community, according to Scott Peterson, vice president of U.S. tax policy and government relations for Avalara. The fee has to be reported on a separate return, so every retailer has to file two tax returns monthly — one for sales tax, and another return just for the delivery fee — that's a big step backward in simplification." Since most states are predicting declines in state tax revenue, I expect these delivery fees (Tax ) will spread to more states.

Last year Drake's price was $1,825 with a $300 discount for renewing by May 31st. Next year's price will be $2,095 with a $325 discount for renewing by May 31st which is a net increase of $245. I will continue to use the PPR option which doesn't have a discount.

"Oregon taxpayers couldn’t make online payments as the state’s tax deadline approached Tuesday night because of an internet outage affecting state websites. In response, the Oregon Department of Revenue says it won’t charge late penalties or interest on payments made before midnight on April 21 – a three-day extension. The deadline for filing state and federal taxes was at midnight on April 18. Oregon’s revenue department says state government websites were offline from 9 p.m. until midnight “due to a vendor internet service outage.”

I used Parson Tax Edge as my second tax program before ATX. Don't remember the name of the first program, it was from Florida.