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TAXMAN

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About TAXMAN

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    ATX Master

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  • State
    VA

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  1. Max this POA that I have a copy of was written up by an attorney and notarized in his office. It was also recorded in the local circuit court. My main concern is if I file her as MFS with the service refund the carry over from a previous joint return.
  2. TP needs to file a return. Spouse went missing and a missing report was filed. Some 45 days later unable to find missing spouse.(80 years old). TP holds a GENERAL POA that does have the wording to sign "any deed, contract, court order, pleading, tax return, disability, or retirement election, or any other paper". Has a sizeable refund in it due to a carry over credit of estimated tax paid from a joint return. Would TP be better off to file a MFS return and ask for the refund? The tax year in question is a 2017 return about to die. Any ideas as time is very short.
  3. Original mortgage to buy building.
  4. I have TP who ran a business(sch c). Mortgaged the building to the hilt. Business went south. (prior Covid 19)TP closed. Still paying interest on note cause he can't sell. No buyers or ones that want to pay .50 on the dollar. Can I make a sec 266 election and carry the intertest forward till he sells. I do not think it belongs on form 4952(investment interest). What do you think?
  5. Gail what I am asking I have 2 schedule c business. Different names for each. One collects sales tax the other does not. How to I get the sales tax registration to attach to the one that does since I have only one fed ID.
  6. For my Virginia friends. I have a schedule c(sole prop) dba ( mowing service)Has employees. Started another business that needs to collect and pay sales tax. Also has employees. Uses same FED # for both. How do I register this second business to collect and pay the sales tax. IRS says use same FED # which I am ok with. Its just that Virginia sees all payroll coming through 1 number, but the sales tax is connected to business #2.
  7. I am still wondering how many 2016,2017,2018 returns are in the hopper waiting. I know I have several.
  8. I did the bulk print by way of 4562 detail page then print page. It worked pretty good.
  9. My understanding is that Guaranteed payments do not qualify for the 199A deduction.
  10. Due to form changes, IRS changes, software changes, State changing mind every other day. I have about 50 in the hopper. I even had some today come in wanting to know if I could get it done by 5PM. It has been a real PITA to get info this year.
  11. The way I read it if tp files 4868 the 709 gets auto extended. "Any extension of time granted for filing your calendar year 2020 federal income tax return will also automatically extend the time to file your 2020 federal gift tax return. Income tax extensions are made by using Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return, or Form 2350, Application for Extension of Time To File U.S. Income Tax Return. You may only use these forms to extend the time for filing your gift tax return if you are also requesting an extension of time to file your inc
  12. I am thinking same. Can you say how you come up with a price. Do not want to know # just some kinda idea.
  13. Judy it is asking for a signed copy of the other state return on the DE full year resident return. Does it have to signed(va py return). If I attach complete copy of VA py return doesn't the VA EF form take care of that?
  14. I don't think the time statue's would play in my favor. Interesting note was that back in 2018 when 2017 was due TP did file extension. Would that then move the date away from May 17th?
  15. Follow up. It doesn't appear that I can adjust the DE scha for a part year?
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