Gail in Virginia

>>what consenting adults do behind closed doors<<

Y'all being duped again, my friends. What went on behind closed doors was not consensual sex. And Tom, this certainly isn't about political affiliation.

The investigation was started by some banks who noticed suspicious financial activity at the highest level of state government. Was it bribery, illegal campaign finance, money laundering? Then the White House steps in, and all of a sudden it's gone -- just hookers, nothing to see here, move along everyone. The governor's really sorry, look, here's his faithful wife.

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.

Hi,

I recently took over as volunteer treasurer for a local 501c3 organization (it could be PTA or Little League, etc.). This group has never used double signatures on checks. It has always been my understanding that double signatures on checks were "required". I am wondering is this really just considered good practice, or is it a requirement? If it is a requirement, is there supporting documentation. I want to push for double signatures and am anticipating resistance, so would prefer a scenario back with facts rather than opinion.

Thanks for any help/pointers, etc.

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! ;)

JB, stick with coffee.....sleep is over-rated.

Booger

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!

Lion's was a good start, although I hope at the end he has at least one 'con', just to be totally fair about it. They all have some quirks, or weaknesses, after all.

KC]

BTW, if I am not mistaken, Lion is a she, not a he. :rolleyes:

Maybe I have a suspicious nature, but I think CCH is just not devoting that many resources to ATX customers, and when we get down to Thursday morning deadlines, and we all try to e-file those last few returns that we got ready late yesterday or early this morning, it is just more traffic than the poor, old, broken down server they allot to us can stand. But that's just my theory. <_<

How do we write "stimulus Return" on the top of 1040?

I would use black ink - pencil isn't permanent enough, and I am never sure what exact colors will drop out on a scanner or copier.

I have not had this situation, so I am guessing, but did you by any chance continue to use the 8879 pin information for the e-file? I think since he is deceased you would need the 8453 to be signed by the personal representative and enclose the certificate with the 8453 when mailing it in. Just a guess.

G Sawyer, this is from the Virginia Tax Administrative Code, and I think it answers your question. The sentence that I put in bold and underlined tells you that you do not get the subtraction if the total prize is $600 or more. Hope this helps. Link is http://www.policylibrary.tax.virginia.gov/OTP/Policy.nsf (if it works right.)

Code Section: 23VAC10-140-281

Tax Type: Employer Income Tax Withholding

Brief Description: Income taxation of lottery prizes

Topics: Persons Subject to Tax

23 VAC 10-140-281 Income taxation of lottery prizes

A. Lottery prizes subject to taxation. Any lottery prize of $600 or more shall be subject to Virginia income tax. To the extent included in federal adjusted gross income, any lottery prize of less than $600 shall be subtracted from federal adjusted gross income in determining Virginia taxable income. No subtraction is allowed for the first $599 of a prize of $600 or more.

B. Persons subject to taxation. The following persons shall be subject to Virginia income taxation at the current applicable rate as determined in Chapter 3 of Title 58.1 of the Code of Virginia on lottery prizes subject to taxation under subsection A above:

1. Residents;

2. Nonresidents; and

3. Part-year residents.

C. Multiple winners. When a lottery prize is claimed by a group, family unit, club or other organization, the multiple winners will be required to (i) file an Internal Revenue Service Form 5754, "Statement by Person(s) Receiving Gambling Winnings" with the Lottery Department, or (ii) attach a statement to their federal income tax return.

The statement should include the following information for each individual, person, or entity who receives a portion of the lottery prize:

1. The name;

2. Social security number, or employer's federal identification number; and

3. Amount of the winnings each individual person or entity received from the lottery prize.

The amount of the lottery prize included in federal adjusted gross income for each individual person or entity shall be subject to state income taxation. Each individual person's or entity's share of $599 or less shall be subject to state income taxation if the aggregate amount of the prize prior to distribution among the group, family unit, club or organization is $600 or more.

D. Estimated tax. Taxpayers may be required to pay estimated taxes in the event that a lottery prize is not subject to withholding or if withholding is insufficient. In accordance with §§ 58.1-490 through 58.1-496 of the Code of Virginia, estimated tax is due if the estimated tax liability on all income subject to state taxation exceeds a taxpayer's total withholding and other credits by more than $150.

Statutory Authority: §§ 58.1-203 and 58.1-4006(B )(1) of the Code of Virginia.

Historical Notes: Derived from VR 630-6-4006 § 2; eff. November 21, 1990.

I think you have it right, and no it is not logical. I never have understood the reasoning for this one.

I especially want to ask about the date on the last state payment, but I like the program rolling over the amount to remind me to ask if they paid in what I told them to.

I am so glad someone asked about that. It had been bugging me also, since I don't live or work in Casablanca either. But I really only want to go there if I get to meet Humphrey Bogart.

Below is an email that I just sent to ATX. I don't know if anyone else has noticed these problems - at first they seemed minor but it is kind of like water torture -as the season goes on and I am busier and tireder, they get to be more of an issue. If anyone knows a solution to either problem, I would love to hear it.

"There are some details in the program this year that I hope are going to be corrected. When I roll over a return, even though the preparer changes according to my preferences, the PIN number for the ERO signature on the 8879 remains the same as the preparer from last year, which may or not be me (I work in an office with three preparers on a network.) This is not good. The designee for the IRS to talk also remains the same pin number as the year before even if the preparer changes.

Another issue, which may be unique to Virginia, is that the returns that roll over do not keep the same locality code they had last year. Most of my returns are for Franklin County, and Virginia also has a Franklin City. The rolled over returns are showing Franklin on the data input sheet, and ## on page 1 of the 760CG. I have to re-select Franklin County on the data input sheet to get the 67 code to show up on page 1.

These problems may seem small, but they are wasting time that I would rather spend on tax issues. Can you tell me if there are any plans to fix any of these issues? Thanks."

I think I don't see the file. How do I get to it?

I liked the Tiger better than the goofy professor. We should also bring back the Tiger's roar when you started the program if I remember right.

Peggy Cobb

Mount Vernon, WA

Soundss Greaaaaat!

I don't think SSA reconciles line 2 with anything, and IRS is mainly going to look at the W-2. I have had this happen a couple of times where the Simple did not get adjusted on line 2 of 941 until at the end of the year we did the w-2's and it did not match. We try to get clients to correct it forward, but so far I have never had a letter about the back quarters not matching the W2's. I suspect this happens a lot, and either that number is never matched or they look at the box 12 adjustments and figure out what happened. I think it is the former.