ETax847

I had a lady call me today asking for help in helping her file for unemployment.  She nannied for a family until March 15 of this year, and then left to start work at a day care as a W-2 employee.  As a nanny she was paid in cash.  The daycare laid her off after 1 week due to the coronavirus pandemic.  Is she eligible to file for unemployment?

What was the discount you received? Were you able to negotiate a steeper discount than the 15% mentioned above?

Does anyone have any tips for walking clients filling out a new W4 form?  Is the IRS calculator the way to go, or is there a more efficient way?

This person has no tax liability, but did file his 2019 tax returns.  What then?

Have you heard anything regarding the IRS "Get My Payment" tool for those taxpayers who had no tax liability. Currently the tool asks if the taxpayer received a refund or owed money, but does not account for those that didnt do either. Thanks for your help!

Roberts, you're work around worked! Thanks so much for the timely response.

Im filing a zeroed out Trust Return (1041) as the final K1 finally came.  There are no inputs from the K1.  The Federal E-File was created without a problem.  The State E-File gives me the following error:

IL-K-1 Input Error "Partner K-1-P entry 1: Partnership's identifying number must be removed.  No amounts are present."  

What does this mean and what do I need to remove in order for the error to be removed?

I added a question to the Tax Organizer in all caps.  This has made life much easier.

An hourly rate seems reasonable to me.  Thanks for the advice

What rate do you charge for a Form 5500 filing? This is my first one and am curious as to how much to charge.

I got it via email.  What is the best discount anyone has been able to negotiate? Is it much better than the early renewal discount?

Base price went from $1,789 to $1,880.  Does anyone know what the "processing fee" is all about?

Is anyone applying for these loans / grants for their own practice?  I have lots of clients who are applying for these funds and was curious if anyone whose practice has been affected is also doing the same?  Hope everyone is staying safe.

Did anyone else get their ATX early renewal notice today? 

*1040 EF tab

It's a manual adjustment that can be made on a tab on the 1040.  

Tracking State Legislative Responses to COVID-19: https://taxfoundation.org/state-tax-coronavirus-covid19/?fbclid=IwAR05E2ch588Qce0JTQB7HZBXp_2I7UavjzGQMxhYWWwgnJGcC2LoM4scTRY

@Lion EA

The deadline for filing state income tax returns will be extended three months to July 15, matching a federal deadline announced last week, Gov. J.B. Pritzker said Wednesday.

The postponement, made in an effort to alleviate the economic strain caused by the COVID-19 pandemic, will automatically apply to all individual returns as well as to trusts and corporations.

Lion, appreciate your insight as always.  Stay well my friend. 

Client's husband day trades his rollover IRA and wants to consider this a business and deduct many home office expenses.

Has anyone come across anything like this before? I would consider it a hobby if anything.  What do you guys think?

Thanks for the info and a good work around.  Stay safe!

Interesting how ATX has not updated its software to reflect the extension of payment deadline.  Even today, it tells me, "Payment Date Must be Before 04/15/20"

For those who wish to make their tax payment after the April 15 deadline, will ATX allow direct debit? My software still has not been updated to reflect this.

Interesting tidbit of the individual estimated payments! I had no idea that was not also extended.

ATX still wont allow for payments past 4/15/2020.  Anyone have a work around?