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Burke

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About Burke

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    VA

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  1. And that is what I have always thought too about VA. If I am not mistaken, someone at VEC told me that once......
  2. So if you are a single more-than-2% owner with a W-2, and decide just to stop operating, you can apply for UI in this state? But I suppose in that case, you would have to look for another job......
  3. Burke

    OIH for Minister

    What I would question (and there is not enough information here to determine), is the $53K Housing Allowance designation. If he is trying to deduct OIH, then he apparently owns the home? Are you saying his mortgage interest, real estate taxes, utilities and other eligible housing expenses -- actual out-of-pocket -- equal or exceed FRV of $53K? As the rule for exclusion is the lesser of the three -- FRV, HSA, or ACTUAL. Did you do a worksheet? I always do and put a copy in the return file. And Medlin is correct; there is no IRS rule about showing the HSA on the W-2. Then you have to get it from the church or paycheck stub. But there is no rule that says they can't issue a W-2 either.
  4. I am a poster on the Tax Book Forum but all of a sudden it doesn't work properly on IE anymore, so I have to use Chrome. I hate it, probably because I can't find things like where to Print, access Favorites, etc. Where can I learn more about operating Chrome?
  5. Really? Is that true? I assume you are a corporation..... Do you have to have a reason for closing?
  6. It happened to me last year on the state. However, there was an issue with an unapplied estimate made in Jan for the previous year. So in the process of correcting that, which they did, and the return ultimately processing later, they refunded the original overpayment which was indicated to be applied to the following year. I don't know if the transaction mentioned was the cause of the refund.
  7. I purge my old paper files every year, but I never felt comfortable "sending them off to the shredder." I always have them come to the office and shred on site in the truck with the TV while I watch them transfer into confetti. Found a good one who charges $10 per (10-ream-size) box of papers. And its a lot in one box. No minimum.
  8. If this change was an override, it sometimes will not flow through correctly. Usually if you change a figure in a blue field, it will carry through.
  9. Burke

    VA 760C Issue

    JUST FYI: ATX fixed the problem with the alert , and the 760C is now calculating with no error issues or PDF requirement.
  10. Interesting. I am inclined to throw my lot in with the group who is arguing constructive receipt. What is not included in the details here is ....was the annuity the only asset to go into the Trust? Was this something that was in an RLT, for instance, when the mother was living? IMO, the Trust might have existed at death, but was not FUNDED until the monies went into the bank account, so that is the date the trust started for tax purposes. Prior to that it had no income unless there is information we don't have here, and no tax would have been due. However, as someone said above, if no distributions have been made YET, then the proceeds are reportable by the trust and taxes are due to be paid by it. Electing Sect 663 would have only extended the date for distribution until 65 days after 2019. DANVRAN asks what is the difference between reporting it in 2016 or 2019. A heck of a lot of interest and penalties, that's what. What is the reasoning for the funds not being disbursed at this point? Are all these legal expenses incurred going to be paid and deducted by the trust? Doesn't sound like there is going to be much left. Also, it would be an interesting scenario if a Section 645 election could be made -- would have to have more details and a legal opinion -- but that would enable them to elect a fiscal year....... There were no other details given about estate assets. I would love to know the outcome of this situation. Keep us informed.
  11. Burke

    VA 760C Issue

    This is also happening to me. It's ridiculous.
  12. That is EXACTLY my conundrum here.
  13. It appears VA filing deadline will stay at 6/1/20 (per Gov Northram's press conference today) so I need to know this: Client wants to make IRA contribution and deduct for 2019. He is waiting until July to determine his income this year as to how much he can afford. He wants to do $7K if he can and deduct full amount. Since VA is not extending to that date, I am assuming he has to make the deposit by June 1 to claim it on the state return. He can do $5K now, so I am thinking do it, and if he can come up with another $2K in July to put on the federal, that will mean the AGI will not conform to the VA return! I think I can unlink VA from the federal to file it, so would this mean he would have problems down the road?
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