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Abby Normal

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  1. Pro tip: Delete the 1099G for tax refunds and just enter the refund on the worksheet, if it's even taxable. We haven't had one taxable yet this year, due to SALT limits or just not itemizing last year.
  2. I have a key to open my office door. I have a code to disable the alarm system. I have a windows password. I have encryption on all of my drives. I have an ATX password. But, somehow, the IRS thinks I now need 2FA to keep my tax software "safe"? If I was trying to steal a tax preparer's data, I would search for all the PDFs on their computer that are most likely not password protected and just copy those. Why would I want to log in to their tax software? This is like airport security, where taking your shoes off supposed to make you safer, but it's complete .
  3. A lot of software is online these days. No way does ATX want to text me a code every time I enter my password to log in. Besides, the IRS is way behind the times, as usual. 2FA has already been spoofed so a hacker can intercept these texts.
  4. I think they're referring to websites and portals, not our desktop software.
  5. Beats me. This is all new this year. Maybe update forms?
  6. It was all automatic on the one I did. Once I found out the QBI box I needed to check was on the Sch C. I only had SE tax and SEHI deduction, plus wages and it all filled in.
  7. I emailed the MD governor this morning asking him to push for this and also to raise the MD standard deduction and tax brackets to what they would be if they had been indexed for inflation, then start indexing everything in the tax law for inflation.
  8. When we do DE returns, we just fax them the federal Sch A. Is that what you do? DE is so backwards in some ways.
  9. Highlight the item in print returns window then use Ctrl+up arrow or down arrow. Also, right click the item and choose move to top or bottom. Somethings seem to print ok even they're in the wrong order on the screen, like K1 basis pages. And always check the 'remember' box at the bottom.
  10. I've had ATX alert me that they were shortening the names, when creating the efile. I guess some names are just too long.
  11. You can do that in DE, and some other states. MD hasn't gotten with the program and their standard deduction was never indexed for inflation so the gap between the federal standard deduction and the MD standard deduction is huge.
  12. Me too, because most of my Sch E's aren't qualified. We're going to have to update our organizer questions for QBI hours, and log keeping.
  13. I can't believe you have a client who can itemize. I haven't had one yet this year, so far. Those usually come in later. The donation was in 19, so the deduction can only be taken in 19. Wait for the sale amount. The IRS might send you a notice and then you can send them the 1098C with explanation.
  14. Since the personal exemptions are zero on the 1040, there are no allowances on the W4. The withholding tables broke from past practices of using a number much smaller than the standard deduction so workers were more likely to have a cushion of extra withholdings. The new tables use the full 12,400 standard deduction, so that cushion is gone. A single worker with one job who just checks single on the new W4 then signs it, will be withheld very close to what their actual tax will be. Tell your clients that, and if they want a cushion they'll have to enter an amount on the extra withholding line to ensure a refund. The new form should also prevent the perennial disaster we've all seen, where a couple gets married and both changed their W4s to married, and end up owing a lot when they file their first joint return. A lot of wedding sites/magazines were actually recommending the newlyweds do this. And it's designed to help the person who works several jobs, and has no withholding on the lower earning jobs. Now they can have their main job do all of the withholding for all of their jobs. To me the biggest downfall is going to be kids working summer jobs having unnecessary withholding then having to file a return to get it refunded. They should have put a 4th checkbox at the top, that says, I am single and expect my total income to be less than 12,400. This would let employers know to not withhold any taxes. If you read the instructions, your supposed to write 'EXEMPT' in a blank space under 4(c), which is really poor form design.
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