Abby Normal
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Posts posted by Abby Normal
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That "accountant" doesn't even deserve to be called a bookkeeper. Sheesh!
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Where did the money go? If it was deposited into the corporate bank account, it had to be accounted for somehow. Right? Or does this S corp not keep books?
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https://aicpa.qualtrics.com/jfe/form/SV_aa5EQzeg1YWQ8uy
I gave ATX some bad scores for not adding all the forms we need.
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Always glad to see these cheaters get caught and made an example.
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Just add it. You might need to disconnect the state from MeF, but it should work.
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On 5/4/2023 at 1:18 PM, jklcpa said:
It also looks like the payment had to be in by 4/15, so those S corps and partnerships now on extension would have had to pay this in order to claim it on the form in question.
If they're cash basis, it had to be in by 12/31 last year to claim it on the federal business return. In MD if you pay it after year end, it distorts your state taxable income because you have to add it back to federal taxable income, but it wasn't deducted on the fed return.
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Here's MD's list of approved vendors showing who supports the 511 PTET and who doesn't. I hadn't heard of some of these vendors. ATX is listed under Universal Tax Systems.
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On 5/27/2023 at 12:03 AM, cbslee said:
Online POAs don't jump the queue, it still will take weeks to be processed.
This is why I still fax them. It's easier, faster and less complicated.
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The 2210 is for the prior year and the interest rates should be hard coded in. The interest rates that ATX does not update are the late paying ones on the 1040 itself.
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2 hours ago, mcb39 said:
EFile says that Name and EFIN do not match their records.
We really need an IRS site to look up the Name Control in their computers. It's stupid that they make us guess what they have.
I had several trusts I couldn't efile for name control rejection for years, and finally the IRS fixed the name in their computers and we were finally able to efile. I kept putting the reason for paper filing as the IRS has an error in the name control database, and I guess someone finally took a look and fixed it.
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1 hour ago, ILLMAS said:
Just out of curiosity, does anyone here use ChatGPT on a daily basis? Like for what reason if I may ask.
Just out of curiosity, I used it for some basic tax research and it did a good job. I was using the free version and the next time I tried to use it, the site was too busy and I couldn't get on.
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This article refers to problems that certain users have.
https://www.techradar.com/news/windows-11-is-so-broken-that-even-microsoft-cant-fix-it
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21 hours ago, BrewOne said:
Treasury requires you to file past six years to get back into compliance--I believe if they do not have a current issue with overseas accounts, then statute of limitation (5 years) applies? [not a lawyer]
FBARs aren't filed with the IRS, but FinCEN is part of the US Treasury.
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New types of batteries are coming, but in the mean time:
- Don't leave batteries charging overnight or all the time.
- Never charge your battery to 100%. Keep it between 15%-85%.
- Get a cooler for your laptop.
- If your laptop battery is easily removable, only put your laptop battery in when you travel.
I haven't had a laptop in a long time, so I'm not aware of any changes that have been made recently.
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The "best" option would be for the states to just have one form that handles both PTE and PTET. MD started to do this but changed their mind and came up with a new separate form. Huge mistake.
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51 minutes ago, Catherine said:
I tried to get rid of one PITA client this year by suggesting VITA and local free-file services, telling them I had to increase my fees but they could get good service for free. Nope; they came back saying they'd rather pay me more, because they like and trust me. Ah, well.
The punishment for competence.
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What a mess! And the last time I checked, the IRS didn't have any of my income on my wage & income transcript.
If both 1099R forms were filed as original, then yes, it should show up twice, and I'm not 100% sure that filing a 3rd one marked corrected will fix this.
Keep the documentation handy and wait for a CP2000. Should be easy enough to explain.
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ATX is refusing to do any of these PTET returns. They're trying to force you to upgrade to one of their more expensive systems. some of us are doing pay-per-return in other software that handles PTET and using ATX for everything else.
If only MD had used the existing PTE form to handle the new PTET then ATX would have handled PTET for my main state.
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I was unable to login into my BSO account with login.gov, but I got right in with ID.me.
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1 hour ago, Pacun said:
If you only glance, you would think everything will stay the same... only affecting SE, but in some cases, this event will put people outside of EIC (too much income), Make then return ACA premium advaces since the extra income will force them out of the 400%, etc.
Those are all things that flow automatically and will do so in the IRS computers as well. I stand by my call for brevity... ALWAYS.
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On 4/21/2023 at 2:23 PM, cbslee said:
Actually id.me is only used by the IRS, SSA, VA & the Patent Office. Most federal agencies use Login.gov
Just signed up for a login.gov account and it could not have been quicker or easier. I even secured it with two different methods.
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I keep my explanations brief. You listed a bunch of things the IRS already knows just by the nature of the 1040X.
Here's how I'd edit your explanation:
CORRECTED FORM 1099-NEC ($10,000).
CORRECTED 1099-MISC: $10,000
----------------------------------------------It seems to me that line 1 net change would be zero, and the other lines only change due to form calculations, so there's no need to explain this to the IRS.
And you could combine the two lines above into one line for convenience of copying and pasting.
Brevity, above all else.
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Form 1120S Asset Sale
in General Chat
Posted
You would actually make a lot more money per hour and enjoy your work a whole lot more.