Lee B

Well, since my last tax return's efile was acknowledged on the 6th, I can let it rip.

Doing one tax return with K-1s prorated does not apply your clients specific situation. No you cannot file one 941. In your client's specific situation: 1. You will need to file two short year returns 2. Since there are employees involved your clients are required to obtain a new EIN.

It's anybody's guess, but if you can extend 2020 until 3/15/22, I would wait for 3 months ?

You could make that statement about almost every every tech company with an online presence.

Several more active serious security exploits have popped up so there is another unscheduled update! "Chrome is up to date Version 94.0.4606.81 (Official Build) (64-bit)"

I do live payroll processing, so I have to have a laser printer to print the MICR code on my client's checks. In addition, if you need to print any bar codes or qr codes, many inkjet printers are not precise enough.

Back when HP earned it's reputation as a reliable workhouse, the internal components were made by Canon, HP stopped using Canon components some years ago, so HP is not quite as good anymore. Some of the higher volume generic toner suppliers are able to bypass the proprietary chip. I buy from supplies outlet.com. ( See my post in the Off Topic category) I currently have both an HP and a Canon and while my HP works fine the Canon is clearly a higher quality well built printer.

Replace a Lost or Stolen Card If you have misplaced your Economic Impact Payment Card, you can lock it by logging in online at EIPCard.com to prevent unauthorized transactions or ATM withdrawals while you look for it. If your Card is permanently lost, it is important that you call Customer Service at 1.800.240.8100 (TTY: 1.800.241.9100) to report your lost or stolen Card immediately. Your Card will be deactivated to prevent anyone from using it and a new1 replacement Card will be ordered. Fees may apply1. Please refer to the material in your Welcome Packet or see your Cardholder Agreement for more information

I remember years ago when my wife was a Girl Scout Leader ( we had 3 daughters ), she was calling a girl's mother to ask her to help with something. All of a sudden right in the middle of the phone call, the mother yells , "Dog Fight" and hangs up!

Since I had never heard of this kind of entity, I did a little bit on online self education. What I found out was that these entities are somewhat rare and a bit unusual. Since you asking what appears to be a fairly basic question, that suggests that these entities may not in your area of expertise. I have learned in recent years to stick to my areas of expertise.

D I continue to be astounded by the variety of clients that you have and the unusual issues that arise I am so thankful for the clients I have.

"The Internal Revenue Service is inundated with the volume of returns yet to be processed and phone calls for assistance, and is working hard to remedy the situation. While there are many factors contributing to this, it is overwhelming to the agency, according to Stephen Mankowski, tax chair of the National Conference of CPA Practitioners, who attended a recent IRS meeting for stakeholders. “The National Taxpayer Advocate reported they are working to remedy this in multiple ways. The level of service is at its lowest historically, with more calls coming in daily than ever,” he said. “Hiring and training take time. The automated callback program has been successful, but the number of people in the queue is limited to the number of assistants available,” he said. “The number of calls coming in, particularly regarding the Child Tax Credit, are exacerbating the problem.” “Paper returns have piled up — there are 5.5 million Form 1040s and over 4 million business returns that have been opened but not processed. The goal is that by year-end, the paper returns will be processed. However, there are an additional 4 million returns anticipated by mid-October,” he said. National Taxpayer Advocate Erin Collins is empathetic, Mankowski commented. “She truly feels our pain. She understands the taxpayer issues that exist, and the problems getting through to the IRS. She’s dealing with a lot of calls from practitioners and taxpayers trying to get resolution on issues. It’s just a matter of not having enough bodies to do the work." It will be a miracle if the IRS can get anywhere near normal operations this coming tax season

The carrying costs you are referring to relates to "Investment Property". Unfortunately your clients do not have "Investment Property" Your clients avoidance of the FL sales tax is the classic case of "cutting off your nose", because they will lose the deduction of all of the related expenses.

Due to several more current serious exploits, Chrome has released an unscheduled update. Chrome is up to date Version 94.0.4606.71 (Official Build) (64-bit)

See IRS Notice 2020-75

https://www.irs.gov/newsroom/medical-loss-ratio-mlr-faqs

Copied from Forbes: "By requiring banks to report highest balances and aggregate deposits and withdrawals, the American Families Plan will effectively close off the option of underreporting gross receipts or revenues for businesses and self-employed taxpayer." The proposal does not require the reporting of individual transactions.

If you use the Chrome Browser, make sure it's up to date due to several serious current security exploits. "Chrome is up to date Version 94.0.4606.61 (Official Build)"

Oregon has had licensing for over 40 years. As a result,the IRS staffing levels for Oregon are very low compared to other states. On the other, the IRS staffing levels for Nevada especially the Las Vegas area is very high.

In my area there are several strong Liberty multi office franchises who seem to be competing head to head with H & R Block. Jackson Hewitt seems to be a distant third.

CA FTB has had a reputation of being very aggressive for many years.

I 'll throw an example where it's not deductible - Donation of your Airline Miles to a charity - no deduction.

The use of collection agencies by the IRS has been how the IRS has responded to political pressure from our elected representatives. Unfortunately over the years, the statistics show that these collection agencies have collected a very small % of the account balances turned over to them.

"The Internal Revenue Service has awarded contracts to three private collection agencies for collection of overdue tax debts. The new contracts begin Thursday, Sept. 23, when old collection-agency contracts expire. The three agencies are: CBE Group Inc., PO Box 2217, Waterloo, Iowa, 50704; (800) 910-5837; Coast Professional Inc., PO Box 526, Albion, New York, 14411; (888) 928-0510; and, ConServe, PO Box 307, Fairport, New York, 14450; (844) 853-4875. The IRS stressed that it always notify a taxpayer before transferring their account to a collection agency. First, the service will send a letter to the taxpayer and their tax rep informing them that their account was assigned to a collection agency and giving the name and contact information for the agency."

The date on the document is from January, but my link is current. I think that the state of Hawaii has left this up and active and not taken it down means something.