Sherri

Thanks KC, I knew I could count on you. I'll hace my clients call the attorney. Sherri

They recieved nothing, and the settlement papers say they cannot discuss this with anyone, but we're told they could tell me. The lawyer told them he'd take care of it, when the check was written to him. Thanks Ed Sherri

This is a Sched C biz. Nothing more. No 1120S. The only papers are the settlement agreement that states the amount for payment of punitive damages, attorney fees and compesatory damages. The check was written out to the lawyer, who deposited it into the firms escrow account, and then they wrote a check out to my cliet for the $20,000. They have recieved nothing else. No 1099's or anything.

Client had a biz in a mall, sold animals (puppies, cats and fish).The resturant next door caught fire, and the smoke damage was horrific. The mall closed them down and they took a heavy loss. This was in December 2005. Last August after suing the insurance company, they recieved a settlement.. They recieved $200,000, for punitive damages, attorney fees and compensatory damages. The check was written to the lawyer, who put it in escrow, after reciving their cut. The clients recieved a check for $20,000 after lawyers got theirs. They have recieved nothing from the lawyer (1099) or anything about it. I know that punitive damages are taxable income, but I guess this time of the year, my brain is on overload and I'm not sure how to handle it. The lawyer said they would take care of it for tax purposes. (told off my assistant manager today, and it's been all down hill from there). Could really use a little help here. Thanks a bunch, Sherri

How do you do that without all copies having it?

Yes, mine does too, but I stamp a big red copy stamp on it anyway. Sherri

Yes, I'm already registered with e-services. I e-filed the 1120S and 1065 yesterday, and were accepted like within 15 min. Thanks for your help.

I e-filed the 1120S and the 1065 and they were both accepted. Thanks again for the info. Sherri

Thanks all. I did go on e services and I thought I read that I would recieve something in the mail. Will go back and check again. Thanks again, Sherri

I had to ask the IRS to authorize me for e-filing a 1065. I have it done waiting for them to let me know I've been approved. I have finished the ladies taxes using her K1, can I e-file it, or do I have to wait to e-file the 1065 first. Sounds like a stupid question, I know. Sherri

Wow, 83 people viewed my post, and 1 answered.

Thank you bcolleen, and Happy Birthday! Sherri

Does anyone know what the costs for breakfast, snack, lunch, and supper is for this year? Sherri

Thank You. I feel like a real dummy this year. Maybe I'm getting to old. Sherri

This is the first year I've tried to e-file a 1120 S. But it was rejected. Am I covered to file those like my 1040's, or do I have to be approved for 1120's too :scratch_head: