Naveen Mohan from New York

I have been using ATX Max of the past ten years. in the coming tax season I have volunteered to be an AARP tax aide. AARP uses taxwise. My question is if I know ATX Max, what will be my learning curve for Taxwise? thanks for your help. Naveen Mohan

I wonder if some body could help me in figuring out Texas No Tax due information report (form 05-163) and Texas E-Z tax (Form 05-169). My client is a Two shareholder Sub chapter S corporation with annual revenue of $973,547 which appears to make them eligible for No Tax due because the threshold for No tax due is Gross Revenue $ 1,080,000. However the program is also opening up Texas E-Z tax (Form 05-169) and it is computing a tax of $ 5,598.00. My question is if my client qualifies for Texas No Tax due information report then why Texas E-Z tax is giving out a tax of $ 5,598.00. does my client owes this money or not, Instructions do not appear to be of much help. thanks for your help. Naveen Mohan

today when I tried to start my ATX Max, the message is microsoft window server trying to get user account control. Is this type of message normal or is it some kind of malware trying to get control of my computer? thanks for your help. Naveen Mohan

I have to change the tax classification of a LLC from partnership to S corporation. Should I file Form 8832 and form 2553 on the same day but in different envelope or should I file form 8832 first ad wait few days and then send form 2553. the reason I am asking is that if I send both envelope at the same time and IRS process form 2553 first they are not going to see for 8832 in their system. will that cause any problem? thanks Naveen Mohan

This is for member who handle New York State Sales Tax filing. It appears that New York State will no longer let representative file New York State sales tax registration form NY DTF-17 and New York Sate will no longer take paper filing of the tax return. How do you handle if the client is not educated enough to file this form himself and he does not have internet access or email account. Thanks Naveen Mohan

I have a client. I filed his federal corporate extension but it looks like I forgot to file his Texas franchise tax extension. Federal Extension was accepted by IRS. do I have any defense for non filing of Texas Franchise tax extension or do I have to pay penalty in this case. Thanks for your help. Naveen Mohan

I have an enquiry from a potential client to do FABAR reporting for him. He said that based on his foreign earnings and assets he was supposed to do FABAR reporting for past several years but he did not get around to doing it. FABAR reporting is all online only. My question is should I just do his2014 FABAR reporting and go forward or do I need to do his past FABAR reporting also. If I need to do his past FABAR reporting how do I do that because system normally only let you do current FABAR reporting. Thanks for your help. Naveen Mohan

I have a client who had an inactive corporation in MD. He just has changed the name of the corporation because he has purchased a business in a different industry which he wants to run under this corporation I have filed his initial corporation tax return and I have checked boxes for name change and address change. I have used ATX Max to file his return. My question is how long does it normally take for a return in an accepted status to appear on IRS database. The reason I am asking is that I want to do EFTPS registration for this corporation and I want to make sure that my name change and address change that I have shown on the return shows up in the IRS system so that thee is a match when EFTPS tries to do a match between EIN and corporate tax return. thanks for your help with this. Naveen Mohan

How do you apply for a retailer cigarette license in Maryland. I have a client who is buying a convenience store in Maryland. I am based in New York. I have googled it but I cannot find the right link. I did go to Central Registration in Maryland Comptroller site. It let me register for sales tax, withholding tax and unemployment but it did not give me an option to register for Cigarette Retailer license. Thanks for your help with this. Naveen Mohan

I have a client he has changed his corporate name prior to doing any business. It is a Maryland domestic corporation. He has Article of amendment showing corporate name change. How do I report this name change to IRS because his existing EIN letter that he got from IRS has old corporate name. Also typically how long it takes IRS to process this type of change. Thanks for your help with this. Naveen Mohan

Does VA requires any state filing of a form comparable to Federal Form 2553 or does it accept Federal Sub chapter S classification for State Tax purpose. The reason I am asking this question is that I am based in New York state and New York State does not accept federal 2553 for state purpose you have to file a separate New York State form CT-6 for this purpose. I was wondering if Virginia also have similar rules. Thank for your help. Naveen Mohan

I have a client who had passive losses carryover in 8582 because of his high income. Now he has sold the property. My recollection is that there is one check box in ATX max program that will activate the prior year suspended losees but I cannot seem to find that check box. I would appreciate it if some body could point me to the right direction. thanks for your help. Naveen Mohan

I have a client whose 2012 1120 S return I prepared but I forgot to efile because he was on an extension and it simply slipped through cracks since ATX does not have any alert/reminder of a return prepared but not efiled. However I did include his K-1 in his personal return in a timely manner and he paid his income tax on Subchapter S profit in a timely manner. do I have a case for waiver of penalty or do I just have to suck up and pay the penalty. It is pretty hefty penalty. Morally I cannot ask client to pay the penalty because it was my oversight. thanks for your help. Naveen Mohan

Judy: Thanks for your help. I called the client after I got your reply. He said that he did not do 83 b because he did not want to pay all his taxes at once but he is saying that it is not showing up in his W-2. Can I add it as other income? thanks Naveen Mohan

I have a tax situation for a tax client where I do not know where to begin. The client is a high level executive who participate in a restricted stock award program and in 2014 he had a portion of his of his stock vested and is subject to taxation. He claims that the tax rate will be 35%. My question is how and on what schedule this type of transactions reported. If the client claim is correct that his tax exposure is at 35% then why this type of transaction is not classified as capital gain because 35% seems to be ordinary income tax rate. Thanks for your help. Naveen Mohan

I submitted a 2013 S corporation return for federal and New York by ATX Max. My federal got accepted but New York return got rejected by EFC and the error message says Year in Submission ID is incorrect '2014' should be '2015'. What are they talking about and how do I find this error. I looked at NY EFINFO page and date signed Ihave 03/01/2015. Where else should I look for this error? Thanks Naveen Mohan

I have an IT client who is using sub contract labor in India. Since Indian vendor does not have a tax ID number or a social security number, how do you comply with 1099 reporting requirement in this case? thanks for your help. Naveen Mohan

I have a client who started an S corporation in 2013. 2013 S corporation return went through OK by both IRS and New York State through ATX. this year when I transmitted the return, I got response back from ATX "Return rejected by Agency". The error message is saying " The return type indicated in the return header must match the return type established by IRS for this EIN." I do not understand it. If IRS accepted 2013 S corporation return then why are they rejecting 2014 S corporation return? What am I doing wrong? thanks for your help. Naveen Mohan

I have a client with S corporation. He has owned and operated a convenience store business under that corporation. He has sold that business and now he wants to own and operate a restaurant under now empty corporation. Can he do that? does he need any permission from IRS before he starts this business. Thanks for your help. Naveen Mohan

My friends. you really touched my hearts. You are not just co-workers, you are my brothers and sisters in Christian Community. I am specially thankful to Mr. Fassett who was able to find and post the link from the funeral home. Mr. Fassett also got my practice going in 2005 when he recommended NCI class to me. Thanks again. Naveen Mohan

Thanks Tom. My wife passed away on January 21st. We were married 37 years. Right now each day is a struggle because we live in a very rural area so combating loneliness is a big challenge but I have to get through it. This was the God's will. Thanks again for you remembering me Naveen Mohan

I have a client who was going to purchase a gas station business from 7-Eleven but he found the gasoline tanks were leaking so he did not complete the sale. However 7-Eleven refused to refund his deposit and he lost another $ 15,000 in legal fee and environmental testing before finally abandoning the project. Is any of these expenses deductible in his personal return? thanks for your help. Naveen Mohan

I seem to remember that this year an extra form needs to be created ( I do not remember the form number) for Depreciation even for assets that were installed prior to 2014. I just did a Sub S corporation tax return where all assets were installed in 2013. ATX did not create anything extra. I tried same thing in a different software still nothing extra was created. Am I misremembering things? thanks Naveen Mohan

If someone is on L-1 visa (Inter company transferee), should I file 1040 or 1040 NR? Thanks for your help. Naveen Mohan

Thank you all for your kind words. I really appreciate it. You are all true friends. Thanks again