Gail in Virginia

You probably need to wait and see how the employer/stock broker reports everything. In my experience, which is something less than vast, the ordinary portion is usually in the W-2 and gets into ordinary income that way. The LTG portion is usually reported on a 1099B just like any other stock sale. The basis is what he paid fof the option initially plus the amount that he paid ordinary income tax on (the 15%.) But until he gets his paperwork, you cant' be sure how it will be reported.

Interesting. I had the same experience. I always save the activation code in case I need to reinstall the software, and yet it did not work when I tried to log on to ATX support. I wonder if they were all different? I also am leery of growing to depend on ATX's bulletin board after having it jerked out from under me so close to the end of the tax season. I have no reason to think that ERC would do that to me, and every reason to think that ATX might if it suited them to do so.

We used Drake one year, and I have to agree they have excellent support. They have the forms needed to do most income tax returns. However, they do not have the payroll forms (941, 940, W-2, 1099, etc.) and they do not have unusual forms like the treasury form for reporting interest in or authority over a foreign bank account. I have to say that I agree with ChrisCPA's attitude. I think that I will probably go ahead and renew before the deadline to get the discount. I have not seen anything that I like better, and even if Mel comes up with a program in time, I will probably run both programs the first year his is out.

It is the first year for the procedure for the IRS as well, and apparently the person you got did not know what they were doing. You should not need a new EIN, you just need to be set up on the system for the e-postcard. And you should not have to file for recognition if you are a 501 ( c) 13 because donations to it are not deductible anyway. Good luck with finding the right person to talk to - and if it should turn out that the IRS website is wrong about what to do, please keep us all posted! :dunno:

I found this information on the IRS website under frequently asked questions. Rather than be late with the filing, or pay the $300, I would call the number mentioned and speak to them about your requirement. The only cemeteries I am associated with are either directly connected with churches, which eliminates their need to file, or they are small and do not claim to be tax-deductible. You can be a non-profit entity, and exempt from paying taxes, without contributions being deductible. From FAQ on IRS site: If you are certain that your EIN was entered correctly, the IRS may not have your organization listed as a tax-exempt organization. To be exempt under Section 501©(3) as a charity, most organizations must go through the application process. If your application for tax-exemption is pending, you must contact Customer Account Services at 1-877-829-5500. If your organization claims to be exempt under some other Code section, such as 501©(4), an officer of the organization should call Customer Account Services at 1-877-829-5500 (a toll free number) and ask that the organization be set up to allow filing of the e-Postcard.

Anybody ever hear from Jerry Mealer? He knew all about the ring around that racoon's tail.

On a piggyback return, IRS cleared means the IRS has cleared the return for forwarding to the state. In Virginia, they only pick up the returns when they reach a certain number of them out there as a batch, so sometimes when volume is down it takes a while to change from IRS cleared to accepted.

If you want to go with choice two, look at the new officers as being what is new. Are they volunteers? Do they have any experience with non-profit taxes? Can you still plead ignorance because you have a new group of ignorant officers to replace the old group, who learned their lesson but forgot to pass it on? Especially for unpaid officers, I think you might stand a reasonable chance of pleading ignorance, especially if you can come up with some procedure for how you are going to make sure future new officers get schooled earlier.

After this tax season, I feel we all needed prayers, but KC will be especially in my prayers. And her husband, and all the rest of her family.

If the money was never in a foreign account that they had control over, then no, you don't need to file the TD F 90-22.1. And Maura is right about TANSTAAFL.

Also, if the money is left on deposit in the foreign country, they would need to complete the treasury form (I forget the number, but ATX has it) for persons who have a greater than $10,000 interest in a foreign bank account. In fact, I think they need to do that even if it is only in the foreign bank account for one day. There is always some paperwork somewhere - TANSTAAFL.

One advantage to not using pictures is that I can picture people the way I imagine them to be - and KC, I know you are beautiful!

I know they do it on Virginia - I almost got caught that way a couple of times early on.

I have not personally used it, but I have heard that CFS makes a module for payroll forms and 1099's. I use their tax tools module for loan amortizations and other miscellaneous forms. http://www.taxtools.com/Default.aspx

You might want to specify where you are -at least the state - so that if someone offers to help you, they will be helpful on the state returns you do the most of as well as federal.

Even if she did not live with him, and I don't think his "temporary absence" would really count against that, as custodial parent, if he (and the non-custodial parent) provided over half the support, and the non-custodial parent isn't going to claim the child (which they can't without the for surrendering the exemption since they are non-custodial) he should be able to claim dependency and all the goodies that go with it. ( I think - this has been the longest tax season ever and I am not sure of my name any more, much less basic tax law.)

This year, I think I am too tired to scream. :wacko:

Maybe its because we live in a throw-away society! :P

I really think it is a fiduciary return you are thinking about instead of an estate return, and if the income that would be moved to the 1041 is less than $600, I don't believe you need to file. It would include all income after her death that was in her name - interest, dividends, IRA distributions, etc.

One of my bookkeeping clients sent me flowers today - what a bright spot in an otherwise hellacious day!

I have never been able to.

:bday:

And when you read the notice, is it possible they are telling him to file a 944 instead of a 941? They are pretty insistent on getting the one they want you to file.

I read an interesting article about the heat from a laptop being used in men's laps being a contributing factor to male infertility. Seems it is becoming more and more common. B)

My favorite reasons for efiling are that the IRS (and the state of VA) must acknowledge they got the return, without the cost of certified mailing, and it is more environmentally friendly - one copy of everything for the client rather than two. Plus no trying to help the client "guess" how much postage their twenty page tax return will take. Fewer trips to the post office. Fewer stamps. I also get fewer letters saying they didn't get this form or that form, and fewer phone calls from clients telling me they "accidentally" took apart the copy they were supposed to mail - what pages go with that? I love efiling.