Gail in Virginia

Not to mention how much fun is to have everything that you tell them questioned and argued with, even when you have done the appropriate research. I think we all get grouchy this time of year, and much more willing to tell clients that if they know so much about how it should be done to leave us alone and do it themselves!

I am not sure I understand what you are asking - sale of inventory is ordinary income. :dunno:

Stop smoking the frikken bananas! :P

Yes, I have downloaded forms twice today. I have the 941M, but not the regular 941.

Can you explain why the security around accessing MyAtx has been tightened to such an extreme? I am currently locked out, and have been putting off calling ATX to get back in. I also saw a thread earlier that we would not be helped with problems accessing prior years software until after tax season. Is this true? And finally, why do I not have form 2555 yet, or the 2008 version of form 941. I realize this is a lot of topics, but it is hard to find time to talk on the phone, whereas hopefully I can post this and come back in a little while to answers. Thank you for joining us.

I have found it interesting that I have had at least half a dozen who came in for "stimulus returns' and left owing taxes. Income has all been correctly reported interest, dividends, pensions, etc with proper 1099's and correct social security numbers, and yet they have not gotten letters in the past telling them they should have filed, and in at least half the cases I don't think this is the first year their interest went over the limits. Interesting side effect of publicizing the need to file to get this "free money." B)

Also, it is probably too late to make much difference with this child, but a Coverdell Education IRA can be set up, and I believe the proceeds from that can be used tax-free for any education expenses. However, the only tax break is on the earnings - contributions are not deductible. Therefore, unless it has had time to grow substantially, it really doesn't help much.

I had a client come in today and tell me that her mother called HRB to find out the cost of the stimulus return. They told her $35. She took all her paperwork to them, which included some interest and dividends, small pension, not enough to file but she took everything to go with her social security. They charged her $195 for the return, and when she questioned it they told her she had been misquoted on the price. She paid it,but her daughter is furious and is telling everyone who will hold still for it how much HRB ripped her mother off.

I cannot confirm for Georgia, but it would not be taxable in Virginia so that may well be the correct treatment in GA.

I must be missing something here, but I would have thought that if the estate were going to pay the tax on the interest earned by the bonds, it would go on a 1041, not a 706.

:D CONGRATULATIONS! Hope you have a wonderful vacation!

Its Sunday, and I am not at the office where my books are, but I think I remember something about if he lived here all year last year, and his wife was citizen of another country the entire year (in other words, they did not live together at all during the year) then he can legally file single. Except for that, I think jainen is correct.

Now I am curious. I had heard that suspicious banking activity began the investigation, but I thought that paying the hooker(s) explained that. Am I being naive? I would not have thought the republican white house would step in to protect a democratic governor, but I don't keep up with things as well during tax season as the rest of the year. What did I miss?

Thank you. That was what I thought, but I am so unfamiliar with these that it is nice to have confirmation.

Help! I have a client with a West Virginia S-Corp. I did the return last year and really didn't question the way the computer prepared the franchise tax return. But this year I noticed that it is putting the retained earnings account and the accumulated adjustments account both on the calculation sheet for this tax. They are the same number - does he really have to pay tax on this same amount twice? It did not work this way last year, so one year or the other is wrong. I think it is this year, but I have very little experience with West Virginia taxes, and would love to hear from someone experienced with the franchise taxes on capital in West Virginia. Thanks.

I sent a 4136 this AM and a 982 on a different return, and both have already been accepted today!

On the ATX Support home page, left column, under manage my account, is the heading Contact Information (or something like that.) Click on that, and it will take you to a page that lists the information for you, including a line for your password with the password shown as *****. On the right side of that line is the word modify. Click that and it will take you to the screen to change your password.

Does anyone know when the 982, Reduction in Tax Attributes (canceled debt) for will be available for e-filing?

I have missed this red notice, but I have successfully e-filed partnerships this year using the 8879-PE - I don't want to start scanning and attaching documents, don't have a good enough scanner, and don't have the software.

Unless your bylaws or articles of incorporation require dual signatures, there is no legal requirement that I am aware of (I am not, however, a lawyer.) I have been treasurer of several organizations, and some of them "bond" their officers and the bonding company may require dual signatures. Those are the only circumstances where I am aware there is a dual signature requirement.

But at least for that question, you got a prompt reply that was to the point! ;)

Depends on who you do it with.

I like the fact that it has almost every form I use, including payroll forms and sales tax forms. I really liked the bulletin board, and did some serious thinking about leaving ATX over that last year. But this board is wonderful, and while it may not have as many professional ATXers as the old board, there are enough people here with enough experience to pull me through. No program is perfect, but sometimes it helps to blow off steam.

You should be able to e-file partnerships now. If you are waiting for the 8453-P, you might try removing that form and using the 8879 for partnerships. I have already e-filed two partnership returns, one accepted and one validated by EFC.

Sad but true, one of our clients with extensive rental income from various properties and from self-storage business, lost her home in a fire about 3:00 yesterday morning. Before I can even ask for help on how to do this, here it is. I love this community!