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Medlin Software, Dennis

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Everything posted by Medlin Software, Dennis

  1. But they do have to do at least enough to justify their budget! NY, trying to ding me (years ago) for submitting junk data to a test only forms person (via mail) for approval to print the form. The data was unusable, with invalid EIN and SSN, but they still sent me a bill - and I did not send to the normal forms adress. Tax agencies who change just text on their form to cause new approval processes. Tax agencies who cannot use simple programming commands like trim, remove, etc, and reject good data.
  2. Rather than creating a 1036 (which has not been used for a few years), the IRS added a spreadsheet to the draft 2024 15T as an "early release" of the 2024 federal withholding formula. Works great for me, as the sooner I get those figures, the less "when will you have the 2024 calculations?" type of message! One state has new calcs, which depend on whether or not a new state W4 is used, but they have yet to publish the new W4
  3. The new postings are usually Tue-Sat. For me, just after midnight PT.
  4. Ours recently had two weeks of in patient rotation with repeated issues of things not moving, requiring manual assistance. Dues paying, but also very enlightening.
  5. My one useful reminder here. If you are waiting or looking to see if a certain tax form is available, check the tax agency's web site before asking the tax form software vendor. For the IRS: https://www.irs.gov/forms-instructions-and-publications I click on the posted date until it sorts to latest first, then scroll for the latest date (something I look at nearly every day). You can also use the search to look for a specific form. I have never seen any non public availability, so it is likely the case if not in this list, it cannot possibly be included in your tax software either. Over the years, the reports here are anything from a few days to a few weeks between form release and form including in your tax software. With fewer using paper forms, the delay is likely all programming and priority (meaning volume), not any sort of wait for IRS approval. For DRAFT IRS forms: https://www.irs.gov/draft-tax-forms Use the drafts to get an idea, but while not often, they sometimes change from raft to release. The one draft form I will usually include before release is 940a, as the form rarely changes other than the credit reduction % (which is known weeks before the form is released). And as always important this time of year, and never too often to reconsider, there is no such thing as an accounting emergency! which ties nicely to what our medical student offspring will say "this too shall pass", coupled with drink more water!.
  6. Another clue is since the IRS csv is limited to 100 forms, but is not restricted to only 100 forms per EIN, multiple submissions is not an issue. On another note, I would add a late fee of some sort for those who bring in data after saying it is all there. Something someone here long ago suggested to me (along with firing at least one customer every year).
  7. I cannot speak specifically to your question. But, the IRS, while suggesting they prefer one set of forms from an EIN, had zero issue and zero regulations against multiple forms from one EIN. The example I can speak on is 941. Many employers use (for some stupid reason) the same EIN for more than one location/store. It is common to send 941 forms by location/store, rather than have to compile into one form. (The normal suggestion, for those who seek professional advice, is to keep each location separate to protect one from any other, for bookkeeping, and to make it easy to close/sell one location.) So I strongly suspect one EIN can send any number of 1099 "sets". I wonder if there is even a 1096, or is it inferred by addition? The CSV submission in IRS does not require any sort of total that I have seenm, since it is easy for the software reading the CSV to add the forms together.
  8. The start of the calm, before the storm. To all of us here, I wish some rest and clear minds in the next few weeks. (My storm is all Dec and Jan, and partial Feb.) And the will to remember the storm is what feeds us and ours, and that there is no such thing as an accounting emergency, not ever! so stick to your personal time at work ability, not a minute more.
  9. I have no worries. I have been using them since they started. Better than asking here, contact them directly to answer your questions/concerns. While worrying about the security of others, clean your own house, such as have a physical firewall (I use Firewalla), a computer which is encrypted (like surface pro devices), separate connections for work and non work devices, etc. Firewalla is interesting to watch. How many incoming attempts "hit", and what your software might be sending out. The only issue is on our family connection, there is a game SWMBO uses, which sends/receives ad data to a server in a county I block. I setup a separate pipe for her device so she can play the game. At this point, I would never be without something like Firewalla again, including having a second one for travel.
  10. AI is often plain old theft of copyrighted material. Most see the problem with things like a magazine or other "news" source getting caught using AI generated articles. The old way of learning, such as reading encyclopedias cover to cover, classroom, or even using a search engine to find relevant information, is not theft, while using copyrighted material as your own is. There was something in the news about using AI to spit out what AI used to create their data has been done (hacked), which might prove useful for those fighting to protect their rights. A live example. I pay a company for certain tools to use which keep me from having to learn and keep up with certain very specific things. Essentially, I pay for the work of their employees. I could use AI to create the framework code to replace this service I use, but I would rather rely on actual experts in the field, rather than the skills of some programmer who is searching and compiling data others created.
  11. There are some who have or will file 2023 W2 before 2024 (seasonal or end of entity, for instance) so be careful about saying it applies to any particular form, instead of the designated forms filed after Dec 31, 2023. Tjere are a few outlier situations which could trigger efile even below 10 subject and aggregate items. The whole process could be cleaned up by offering a 94x free self efile, which is not available at present (and likely why the 94x appears to be excepted). A good example is the IRIS 1099 for batches of up to 100 forms. But, the 94x are a constant state of flux, and currently a cluster you know what. Changes for no good reason, mismatch with “cousin” forms, silly text changes, and so on. The 94x series makes the case there is a department of folks whose positions rely on changes every year, even if no changes in the items reported, to justify their budget. Or there are a bunch of folks who keep the 94x a mess as they somehow profit or expect to profit by the mess. 944 is a prime example of a form not needed but forced on some who were fine with 4 941’s.
  12. In case someone wants to read the details directly: https://www.federalregister.gov/documents/2023/02/23/2023-03710/electronic-filing-requirements-for-specified-returns-and-other-documents "T.D. 9972 affects filers of partnership returns, corporate income tax returns, unrelated business income tax returns, withholding tax returns, certain information returns, registration statements, disclosure statements, notifications, actuarial reports and certain excise tax returns. The final regulations reflect changes made by the Taxpayer First Act (TFA) to increase e-filing without undue hardship on taxpayers."
  13. Check out the notice in the federal register for the actual rule text. Online "experts" often skip over some parts, or are maybe even AI generated pieces. What is most often missed in general public discussions is the entity type can also be a trigger no matter the quantity of filings. And the often discussed change from counting per form type to the aggregate of the specific types. The reality is, one must treat it as efile being required unless they are sure they meet the exceptions. If in doubt, efile.
  14. In some cases (certain org types), efile is required no matter the number of returns. The biggest change is not the threshold, but using the aggregate of the affected forms, rather than a threshold of each form separately.
  15. I get to tell stories about the part of our family who were here before the pilgrims.
  16. I suspect the password, post other login, is to protect the data at rest. That is the most important, as that is where it is more likely compromised (compared to someone gaining live access). It makes perfect sense to require new/reset passwords to meet whatever "new" formula they desire, rather than make all change at once. Sort of like we have to still support the pre Trump W4 (with allowances) and the post Trump W4 (with implied allowances). I actually deal with this almost daily as for me, any change to any of the W4 data means we require a current W4. No "playing" with it so see the results, verbal requests for a different setting, etc. (The current admin may be the first in decades not to monkey with withholding, because the prior admin cut below zero, leaving nothing left to play with. Meaning it is not a red/blue issue, both sides have done it.)
  17. The day after is a great day too!
  18. There must be hundreds of "references" online, any law office taking these cases on likely has a FAQ which will get you started.
  19. Maybe the PTB are waiting for a TY where there is not a huge concert series and the resale profit... but seriously, likely comes down to perceived profit. Maybe the cost of processing the increase in forms is not thought to be covered by increased revenue?. Or maybe even easier, not in a presidential election year.
  20. I have not dug into the definition. Plain language reading, and I am good, personally, with RA or the PO Box's street address, in my case (where I am locally prohibited from using my home address). My DL has the same PO Box on it. My PO Box is my legal business location because of my local rules. The above examples refer to "or" "business street address". I have two possibilities to use, RA or the street address provided by USPS for the PO Box. The first example even specifically mentions if no residential or business street address is available, so fincen has pondered this and offered at least a couple of valid alternatives. next of kin, nope, not doing that, but "another contact individual" looks good for using RA. -- I do get it, some may think why bother. But, when you have had those with mental/moral issues contact you at your residence, you think differently. I am not the only one who lives in our home...
  21. That is what one pays an agent for. I am not listing my home address on anything work related. I have not looked at the rules for this "new" reporting yet, but the USPS does give street address versions of their PO Box addresses, if it gets to that. To comply with my local regs, I am never allowed to use my home address for business purposes. I am also keenly aware of what those who are full time travelers do, such as setting up a domicile they only ever have to visit once (SD is very supportive). The first image is from the fincen site. The second is from the federal register. Since our official business address is either our registered agent's, or the street address for our physical PO Box, I see no reason I cannot meet the "or" and not use any of our personal addresses.
  22. At least in CA, this is not completely new. Annual corporate CA filing requires similar information. One of the reasons we keep a PO Box, so no one has to list their home address. Also is an odd requirement of my city, no home offices can list or advertise their home address (exceptions for things like piano and swim lessons). Not to far back, a person who had a wrap on their car was getting dinged for parking in their own driveway...
  23. While yet more work, I am not sure what the big deal is. If many types of entity had applied for credit or banking accounts/cards/loans etc. in the last many years, the app has to include the same or similar info. Certain entities also have annual filing which has to include same or similar as well. So while this will be new for some (publishing new info, for many is is just more of what is already being reported one or more other ways. For tax preparer relationship, I suppose there are many of these types of suggested notices which are mandated by insurers. The n my case, it will be interesting to see if preparer or corp agent mentions this item (same office, different specialists).
  24. Sounds like a nasty mess, which should have three attorneys (with in house CPA and tax) resolving. Once settled, your client can get you the settlement agreement to file your client's return(s). Sounds like the three TIC have not agreed on anything, so no chance to get the other 2 to credit for the 1's tax payments, without some sort of intervention. --- Good time =for all who read this to consider their own demise and what happens to their stuff. Sharing never seems to work out. Not doing this to those I leave behind, and not looking forward to it - again - when an older family member passes someday (a split of all asserts, not sale and split proceeds, I have seen the documents).
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