Randall

I just did this for an S corp. Only one shareholder. The 7203 info was imported and I double checked it with the Basis Statement in the 1120S. I attached it as a pdf. Haven't efiled it yet. Working on the shareholder 1040 now. I don't know if this was from a recent ATX update or not.

So far, none of my clients have moved from one state to the other. I'm in No. Ky near Cincinnati. I only have a few Ohio clients.

And on the attachment, name it 'ACA Explanation'. That is if your situation pertains to this.

The efile may clear ATX but not IRS.

I didn't find much about a binary attachment. I guess it's all tech jargon. But I did find a fix. I first tried to include Form 8962 but it couldn't be included in an efile for MFS. So I used the Elections/Statements to make a statement. It was included in the return but I also printed it in pdf format and attached it to the return with the title ACA Explanation. Apparently it worked. The return was accepted by IRS. I just don't know which one of the two made it work. So if anyone else has this situation, I hope this helps.

Married clients filed MFS. His return included Form 8962, was accepted. Her return did not include Form 8962, was rejected by IRS. Message reads The e-File database indicates that Form 8962 or a binary attachment with description containing ACA Explanation must be present in the return. What is a binary attachment? I tried to load Form 8962 into her return and click on no PTC. But it will not allow the form.

ATX is showing 3/7 availability.

Anyone have any feedback if these larger refunds in these returns are being held back for review? Just wondering. I have a couple where one spouse will have to pay a higher amount while the 2nd spouse is due a refund. Normally the refund would come quickly and they could wait for the refund before paying the other.

Thanks jklcpa. Yes, I've been working from a .qbb and using the correct QB function. The file is from a client. I upgrade QB every year and use my latest QB. I tried restoring his last year QB backup and it worked. So I guess something is wrong with his latest backup file. I will ask him to create a new backup and hopefully that will work.

When I try to load a client QB file (.qbb) into my QB, it begins to update the company and stops at about 80%. I get this error code (0,-1). Anyone familiar with QB know anything about this. I've not had this problem with this or any other client.

My ES check payments have cleared quickly.

The AICPA and all 50 state CPA societies have formally requested the IRS postpone the schedule requirements another year. Hopefully IRS will do so and quickly.

Has anyone encountered these schedules for 1065 & 1120S? I don't think they apply to any of my clients. But I was looking for them in a client return (1120S). They don't even seem to be available in ATX. Schedule K has line 14 but no link to anything.

The whole covid tax stuff was a mess. I thought this tax season might be better. But now I'm having to file some MFS and look for them more EIP3 and CTC.

Mine filled in automatically once the form was uploaded, which was automatic too when I opened the return.

That's the way I'm thinking it too.

Another delay for Ky 741. Now it's 2/28!!!

A little different situation. Couple is married. Been filing MFS because of wife's student loan payoff is according to her tax return and joint income would make payment higher. She has been claiming the one child. Received stimulus $2800 and advance CTC $1800 based on 2020 return. If the above applies, can he claim the child, receive the extra $1400 stimulus and the CTC $3600 but she doesn't have to pay back the $1400 or the $1800 (assuming income is low enough). There's also a 2nd child this year but I don't think that would be part of the double dipping since neither received anything for the 2nd child in advance.

I can't believe people don't know if they got money or not. Family of four, $5600 and they don't know that $5k was just dropped into their account (or even $1400). Some of the stimulus letters are just now arriving. I only got mine the other day. Some clients who have brought their info to me already are calling saying they just received this letter. Then there are two letters for both the stimulus and the advance CTC. Some clients only bring in one letter thinking the other one is just a duplicate. Watch for those receiving Social Security. They may have received refunds by check in the past but IRS got their bank info from SocSec and made a direct deposit for the EIP3.

Don't we have to wait for the Form 8915?

Thanks. I was overlooking line 30. Once I entered number 1 there, it shows he does not have to pay it back. Whoa!!!

So if the two parents aren't married but live together with one child, they can switch who claims the child in 2021. The father claimed the child in 2020. Received the EIP3 for the child. In 2021, can the mother claim the child, receive the EIP3 for the child and the father does not have to pay it back? Is this correct? The father received half the child credit in advance, $1800. The mother will receive the full $3600 in 2021 but the father will have to pay back the $1800 advance. Is this correct? But someone posted that the advance child credit would not have to be paid back if income is low enough. I'm not seeing this on the 8812 and worksheets.

They've now delayed it until 2/21. And Fed 8606 is delayed. Sheesh.

Maybe the 40s. The 1840s.

A recent WSJ article talked about higher probably of divorce due to age of marriage and cohabiting before marriage (especially mulitple partner cohabiting). Whew. Younger age and never cohabiting resulting is less divorce. Older marriage age and cohabiting (with spouse) or having multiple other pre-marriage cohabiting partners resulted in higher divorce rates.