Lee B

Client filing MFJ's youngest child was a dependent finishing Community College in 2019. Child moved out now self supporting, not a dependent in 2020. Unfortunately the 2020 tax return was not efiled until April 30th, 2021. Client received a third stimulus rebate totaling of $ 4,200 in March 2021 based on the 2019 tax return. So what happens with the $1,400 overpayment? First one of these that I have had.

Yes, there are multiple hurdles this taxpayer would have to clear, but it is possible with the right facts and circumstances.

It depends, if the basis was not reported to the IRS then file. Ir the basis was reported then I wouldn't file.

I would entertain the idea, but only if it was a freestanding structure and it was not mixed use. Also, his rental activity would have to qualify as being a trade or business for QBI.

What would lead you to believe otherwise?

Bad memories, I had a flurry of these Schedule C wannabies some years ago. You're totally right - no clue

I have filed a Schedule C for 3 or 4 years now with no expenses. The client is a full time caregiver with no W 2. No problems. Due to her husband's income - no EIC

Things must be different in the Midwest. Here Minimum Wage is $12.75 per hour with lots of jobs available. To attract anyone most places starting wage is higher. For example starting wage at the local Taco Bells is $14.25 per hour.

I can't even imagine doing that many! Of course most of my returns revolve around business entities and their owners, so I don't do that many returns any more. I can count my extensions on one hand.

Paying the SE Tax is an important lesson about the consequences of taking a job when you're told "no taxes will be taken out"!

Schedule C & QBI unless he's receiving his payments from one prior W 2 employer, then QBI may be out. No expenses, so he doesn't have his own tools or buy any supplies?

Working once for a 3 day weekend at a convention or a jamboree is my idea of "one off"

I guess I lean the other direction. I just print the forms , the important worksheets and depreciation schedules.

Sounds like it should have been on a W 2. If it was my client I would put it on Schedule C. I would find it difficult to argue that it was a "one off event" therefore "Other Income"?

It's not your printer, it's the ATX Program fulling up your printer buffer which is part of your operating system.

IR 2022-71 Get an extension when making a payment Other fast, free and easy ways to get an extension include using IRS Direct Pay, the Electronic Federal Tax Payment System or by paying with a credit or debit card or digital wallet. There’s no need to file a separate Form 4868 extension request when making an electronic payment and indicating it’s for an extension. The IRS will automatically count it as an extension. I learned something new

No chance this late in the game

I found your kinda comfusing. In addition I donate once a year in December.

One of my clients came in this morning, didn't even know she was involved in crypto. She got in and got out in 2021 and she brought with her all of the necessary documents.

In the past, what was happening is that the ATX program would fill up the printer buffer with miscellaneous garbage data. When the printer buffer would overflow the program would crash. Whether this is still the cause I don't know? The low tech solution is to reboot your computer and clear the printer buffer. Abby has posted instructions in the past on how to clear the printer buffer without rebooting.

I am curious, where do you propose to deduct home office? The only two places that I am aware of is on Schedule C or as an "Unreimbursed Partnership Expense"

Since the Equifax breach several years ago, it is now estimated that the personal I D info of more than 50 % of the adults in the US is now available for sale somewhere in the Dark Web.

The TCJA pretty much blocks this deduction.

Buckle up Buttercup

Changing the field and or font probably would be a schema violation and cause the efile to reject Anyway the IRS only checks so many of the leading characters when the last name is long.