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About TaxmannEA

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  1. Thanks cbslee. I missed that when I was looking earlier.
  2. We have a client who is interested in applying for the second round of PPP loans. He had received an amount in the first round and has been forgiven. The problem is that he changed from a sole proprietor to a corporation as of 7/1/20. So when he would compare income for 2019 and 2020, the business would not be the same type. Nothing changes other than the structure. He still owns and operates the business, has the same employees, etc. Does this change disqualify him from the program ? My co-worker asked me about this and I'm not sure. I would really appreciate input on this from those of
  3. My understanding is that if he works from a union hiring hall, his mileage to a temporary remote work site would be deductible if he is on location for more than 24 hrs. He would go to the site and stay all week then return for weekends or if the work paused due to weather, etc. I also remember court cases, but darned if I can find them now.
  4. I'm currently working on a client's behalf with Appeals (Tax Court) regarding a 2017 tax return. Client is a truck driver that works through a union hiring hall for a company that had projects in WI and MI. He would drive his personal vehicle to the work sites and be on site for a week or so and then return home until he was called out to work again. The original preparer took mileage to and from the work sites as well as lodging and M&IE. The revenue officer is OK with the lodging and meal allowance, but she has it in her head that the mileage is commuting. I believe that the mileage is
  5. We have a client who receives only SS and a small pension. They filed a joint return for 2019 in order to get the stimulus payment. The box was checked for the wife being a dependent of another by accident on that return. They received no payment as a result. We filed an amendment to correct that error. The IRS told them that even though the the return had been amended that they still didn't qualify because the box was checked on the original return and that they can't claim it on the 2020 return either. He didn't get a payment for himself even though he was not shown to be a dependent, just
  6. Thanks Judy. For some reason, the search feature on IRS.gov doesn't like me.
  7. Is there any way to make a change in the name of an entity that has an FEIN? We have a church that no longer uses the full name that was listed on their SS-4. The organization is exactly the same, they just are no longer associated with the denomination named in the last two words of the name. I told them that I thought that they would probably need to get a new number if they insist, but I know that someone in this group may know of a way.
  8. A local employer has an employee that has been told to isolate due to Covid exposure. Is he required to pay the employee for the time that they are out of the office, or is that just an option? He doesn't want to "get in trouble".
  9. Yes. The employees all received their W-2 and the 941s were filed for both Federal and state. Our office did the payroll for him. He was given the W-3 to sign and mail. I'm hopimg that this is somehow a duplicate that got lost in the pile of paper.
  10. We have a client who was going over old records and came across a red copy of his 2015 W-3 and W-2s. The envelope for mailing was clipped to the forms. He has received no correspondence about this. Should he mail this in to the SSA or let sleeping dogs lie? One of his employees is going to check his Social Security statement to see if the wages are listed. The 941s were all filed for that year and the employment taxes paid. I'm hoping that this is a duplicate copy.
  11. An 80 year old man died last year and the family has been going over his papers and settling his estate. It seems that he had an IRA that he had never taken any distributions from. He really didn't have a filing requirement as his income didn't exceed the minimum, even if he had taken the RMD. The balance in the account went to his sister's estate as she passed shortly after he did. The funds were passed to her heirs through her estate. My problem is this. Should the original TP be subject to penalty for not taking the RMDs for all those years? Does the estate have any responsibility for
  12. I have a young lady who just received her green card and SSN in December of 2019. Prior to that time she worked for 5 months in Qatar. She had no US income in 2019. Her husband is still in Qatar. I'm assuming that she would have no filing requirement as she had no US economic activity in 2019.
  13. Thanks ! It just seems weird to file a 1041 with no K-1.
  14. I do a few 1041s but this is a new situation to me. A TP with no family died and left everything to 2 churches and a local fire protection district. There are no other beneficiaries. He had a revocable trust which became irrevocable on his death. The trust has received his pension payouts as well as farm rental income from another state and farm income (unsold crops) from this state. They sold farms in both states. My question is do I prepare any K-1s for this or does the entire thing go out as a charitable deduction on the 1041 ? This may be kind of basic, but at this point I'm arguing
  15. We have a husband and wife who formed an LLC for a property in a resort area. They rent part of year and also have personal use days. When the days of rental and personal are entered on the Form 8825, the program (Drake) does not do any allocation of expenses as would occur on a Sch. E. Are we using the correct form (1065) or should we be using a sch E on a 1040 ? The LLC lists both as partners. Or do we just need to do the allocation manually?
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