Abby Normal

My old software sent an email after returns ack'd. I don't like the idea of emailing the 9325 due to the sensitive nature of the form, but an email with no attachments would be great.

Seems like guaranteed payments would be the way to go since the concept is to pay them more if they work for the partnership more. But you will need to explain to them the new dynamic. The one who earns less is currently paying tax on income that is going to the one who works more, so they will definitely want to switch from draws to GP.

Call the IRS.

The "quarters" aren't calendar year quarters. Look at the forms and give her the exact dates you need.

All the best to you and her! She should probably be hospitalized and get any available treatments to control it, even if just overnight.

This is why we love eservices and clients with IRS.gov accounts. Just download whatever you need.

People paper filing 2020 are going to be in for rude surprise.

So WOAT is the opposite of GOAT? I did not know that!

Wasn't sure whether to start a new post for this or not. If a child's unemployment compensation would trigger the kiddie tax, how does the exclusion of the child's unemployment affect the kiddie tax? Also, if the parent's AGI is over 150k, does that change the answer?

https://www.accountingtoday.com/articles/irs-to-automatically-process-refunds-on-jobless-benefit-payments

I think it does because I believe the law is written that IRA contributions are due by the tax return due date, although I couldn't find it in the IRC earlier when I was looking for it. I didn't look in the reg's.

I think Rita entered the date of death for when she's plans on murdering the surviving spouse.

Have the trustee add the beneficiaries to the IRA then split the IRA into 4 separate beneficiary IRAs. No need to distribute it all out. https://www.fiduciary-trust.com/insights/naming-trust-ira-beneficiary/

Fast, quick or quickly? Fast and quick mean moving with great speed. Fast is both an adjective and an adverb. Quick is an adjective and the adverb form is quickly. Compare It was a fast train. We need to have a quick chat before the meeting. Fast and quick are adjectives. You walk very fast! Not: … very fastly. We should do it as quickly as possible. Fast and quickly are adverbs. https://dictionary.cambridge.org/us/grammar/british-grammar/fast-quick-or-quickly

'Quickly' is an adverb and yes too many people use grammar incorrectly, dropping the '-ly' way too often, such as in 'Drive safe.'

No, just use the total actual PTC allowed as the subtraction.

I don't think you need type of bet, but I can't be sure until I look at one of the few I do each year. As a general rule, I always enter the bare minimum and the see if there are any red errors.

Plot twist: She actually wrote the check on 1/2 and backdated them to 12/30.

Yes. I've never had one like this, so I don't know if ATX handles it like it does for partnerships or whether you'll need to do overrides.

You'll enter the 1099G as is and the software will add a subtraction on line 8 of Sch 1.

Earlier versions of the law used the word 'household' when referring to the 150k income limit, and I was searching for where they defined 'household.' Now I see they've changed it to 'taxpayer,' and that raises the question of whether that will mean 300k on a joint return. My guess is no, but it makes clear that MFS will help some people this year, even if the MFS rule makes the income limit 75k.

The IRS can and does recalculate EIC.

No, 10,200 per taxpayer means 20,400 on joint but not more than 10,200 for each.

Correct, they will not have to pay it back. The Child Tax Credit has to be paid back if your income is over a certain amount. That's going to bite a lot of divorced parents next year.

Woo-hoo!