Lee B

I had a client with this situation 5 or 6 years ago. Depending on dates and how the details of how the the 2nd partner departed, a final partnership return would be filed. The LLC by default with only 1 member left becomes a disregarded entity filing a Schedule C under their SSN. If there are payroll employees of course a new EIN would be required. Also the PTS EIN would need to be officially closed.

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What does the Penalty Letter say?

IRS Fact Sheet 2022-13 Q # 9 "9. No. If you are married and you file your tax return using the filing status married filing separately, you may be eligible for the premium tax credit if you meet the criteria in section 1.36B-2(b)(2) of the Income Tax Regulations, which allows certain victims of domestic abuse and spousal abandonment to claim the premium tax credit using the married filing separately filing status. You can claim this relief from the joint filing requirement if you meet all of the following criteria: You are living apart from your spouse at the time you file your tax return. You are unable to file a joint return because you are a victim of domestic abuse or spousal abandonment (see Q13). You certify on your return that you are a victim of domestic abuse or spousal abandonment."

"As of March 25, 2023, we are updating how you sign up for and access a Business Services Online (BSO) account for the following services: What does this mean for you? On March 25, 2023, current and new BSO users, wishing to use the above services, will use SSA’s Public Credentialing and Authentication Process (eAccess) to access employer services. The first time a visitor goes to the employer webpage after March 25, 2023, they will be redirected to the Social Security Sign In page to start the authentication and registration process. BSO users will need a separate Social Security online account, for example, a my Social Security account that was created before September 18, 2021, or have an existing Login.gov or ID.me account. If you do not have a Social Security online account or a Login.gov or ID.me account, you will need to create one from our Social Security Sign in page. This is a new requirement to access BSO employer services. Once the credentialing and authentication process has been completed, current BSO User ID(s) will be associated with your new credential. Frequently asked questions Can I sign in with my personal my Social Security account username and password? Yes. If you have created a my Social Security account prior to September 18, 2021, you can use the username and password to sign in once redirected from the employer webpage. The username and password will be associated with your BSO User ID. Are there any actions I can take prior to March 25, 2023? If you don’t already have an existing Login.gov or ID.me account, you can create one now. Please note your account will not be associated with your BSO User ID(s) before March 25th. You will need to visit our site after that date to complete the process. Why am I being asked additional identity proofing questions after I create my account? Social Security uses different levels of security depending on the sensitivity of the information being accessed. These additional levels of security are to ensure your information is protected. '

No, 2011 was the last year ATX was a compiled spreadsheet. The 2012 ATX Program was rewritten using a poorly selected shareware database called "Raven".

Well, what are the odds that the IRS will kick out a computer matching CP2000? They certainly did several years ago with my client for a clumsily handled IRA rollover.

IRS Tax Tip 2022-09 "This credit is non-refundable. This means the amount of the credit is limited to the taxpayer's taxes due for 2021. Any credit leftover from their owed 2021 taxes can be carried forward for up to five years."

I would insist on copies of the actual monthly statement from the first fiduciary showing the the distribution and the date distributed and the actual monthly statement from the second fiduciary showing the amount received and the date it was received. While it's possible that the distribution code is wrong it's equally possible that your client is wrong.

Keeping your business open by not paying your Payroll Trust Fund taxes is a really bad idea because the business owners are personally liable and filing Bankruptcy provides no relief.

Given inflation what is the likelyhood that FMV is less than adjusted basis.

Catherine, just so you know Intuit is moving the desktop version to a annual subscription.

Read the Ringers "Splitting Nails" thread stared March 1st. You will see differing opinions of whether to amend or not. Personally I lean toward just adjusting the carryforward numbers. However if it was much bigger adjustment I would lean toward amending.

Piggyback / federal / state: The state tax return is attached and transmitted with the federal return, and the federal return must be accepted before the state return can be processed. If the federal return is rejected, the state return will also be rejected. State-only return: The state return can be processed independently of the federal return. It's a common misconception that these returns aren't sent to the IRS—they are. However, the IRS sets aside these returns for processing by the states, in most cases, prior to acceptance of the federal return or the federal return being e-filed. Direct or standalone: The state return is entirely separate from the federal return, and acknowledgements are processed separately. The exception for a direct return state is Illinois, which utilizes IRS common processing through the KC service center. Piggyback only Piggyback/State only Standalone/Direct Arkansas Colorado California Alabama Connecticut Illinois Arizona Delaware Maine Kansas District of Columbia Minnesota Oklahoma Georgia Massachusetts Hawaii Texas Franchise Idaho Tennessee Iowa Indiana Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico New York Ohio Oregon Pennsylvania Rhode Island South Carolina Tennessee Texas Utah Virginia Vermont Wisconsin West Virginia

Hosting isn't cheap, Right Networks charges $68, $80 or $90 per month. QBO costs $30, $55, $85 or $200 per month.

I have been using a different online accounting program where I have the subscription then I get charged a modest monthly fee for each client that uses the program. I am considering setting up a long time client (who doesn't currently use my program) on QBO under their subscription allowing me access as their accountant. Even though it would be more expensive, I think it would be the best approach in the long run.

I am confused comparing your 2 posts.

Send a PM to Abby

I The name and ssn on the 1098 T and the 1099 Q need to match.

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I guess it depends: Are they actively selling trees in Virginia as a retailer or are they wholesaling trees to Christmas tree lots in Virginia? Even if they are wholesaling trees, where does the selling occur in New York or in Virginia? Need a lot more details?

HP printer reputation was built while Canon was building the key internal components. Canon doesn't build those internal components anymore.

My understanding is that the Ten Year Rule does not apply to spouses. The surviving spouse can make an election to be treated as the owner not the beneficiary in which case the RMD is determined as if he was the owner at the beginning of the year of the election. Here's an IRS explanatory chart : https://www.irs.gov/retirement-plans/required-minimum-distributions-for-ira-beneficiaries

Pub 547 has your answers

As long as the mother used the distribution to pay her daughters qualified education expenses, I don't believe there is a problem. 529 Plan beneficiaries are not required to be dependents, they can be grandchildren or they can be unrelated.