joanmcq

She scammed once, got caught, and then tried the scam again? I have no sympathy. Besides, it also seems like she has no expenses. No expenses = ability to pay. Its only about $120/month....

When I worked for a big firm, I used Profx and even seven years ago handled states far better than ATX did even last year. When I started with ATX, CA depreciation had to be manually entered in the CA form. For K-1s, state differences are still manually entered. Profx was a no-brainer in these situations. With the states ATX still does not open forms as needed. But the difference in price more than made up for the thinking and cross-checking I have to do. And when I suggested ATX handle CA depreciation two years ago, I noticed immediately that the program was upgraded in this respect. the point is that the programs are vastly different. Why CCH would want to buy Kleinrock, I don't know, since it does seem to duplicate its research product. I'm hoping that ATX won't be changed much since I am tending towards buying the program for next year.

I've had no problems with direct deposit, and most of my clients use it for refunds. This is the first time I tried the direct debit. Oh well. The bank did send me a nice letter I can forward to the IRS to try to abate penalties, though......

Yeah, the check already went out. But I'll try to abate any penalties I get anyways....I did get a report from the bank. I left off the zero extension from my SSN which it seems may delay a deposit, but somehow they are able to locate the account. For a debit, they just reject. Well, next year if I owe, I'll just mail a check from the start.

The government pays the interest during the deferral period; that is how student loans are government support. If the loans are against the rentals, that would lower their equity, and thus their availability as assets that can be used to support the child. If they traced the income to the taxidermy business and are deducting the interest there, thereby lowering SE tax they have been paying, they are looking to benefit from both, basically turning SE income (taxidermy biz) to non SE income (rental). Now the strategy is showing one of its drawbacks. Kinda like, you can't have it both ways.

If its a code V, its a nonqualified option. Nonquals are always added to the W-2, whether or not they are sold. Most are done in a same day sale, though. I have seen larger losses; some exercises are for thousands of shares and the commissions can be hundreds of dollars. I've also seen gains on these, although rare, when the value used for the W-2 calculation is less than the actual selling price. Having the transaction sheets from the broker or employer is a must. ISOs don't have to be reported on the W-2, but if the gain is included in the box 1 wages, sometimes the amount is shown in box 14, or on the top of the W-2 where other info is sometimes reported (not on the form itself). I've also found the gain for ISOs and ESPPS on the paystubs if nowhere else. Oh, and if a client gets a CP2000, don't file a 1040X. Just answer the notice.

Client has 1099-R with code 2 in box 7. Has an amount for state distribution: $38000. It is from a defined benefit plan from which he retired after reaching the requistite years of service. He is not yet 59.5. Full retirement age under the plan is 65 (per client). Is it taxable in PA? because per the 1099-R, it seems to be since there is an amount in the state distribution box. Per the instructions to the PA 40, the defining factor seems to be qualifying for retirement. It seems he has, since he is drawing his pension, even if full retirement age is not until 65.

I'm trying to finish my return (see direct debit hell below), and have one rental on 'converted to personal use' (stopped renting room in house) and another rental with a disposition with no gain or loss (gave my interest to ex in divorce property settlement) and am getting warnings up the wazoo about putting in the sale price and business use percentage. Tried one at zero and zero, and am still getting a warning. Anyone know what is up? Where's William when you need him????

Well, the efile helpline finally located the extension, so that is fine, but my bank rejected the payment and they are still researching it. I just hit 'use last year's info'; they didn't seem to have a problem putting in the direct deposit. So I just said to hell with it and tried to finish my return to just file the damn thing. See questions above......

Okay, if I screwed up, at least its my own return. BUT; was on the phone with the IRS and they can't find my extension. Called my bank yesterday and there wasn't even an attempt at a debit, but said to debit, I need to use a different number than for a direct deposit; or that it is different for checking than for savings. I've never had a problem with the 'account number' on a direct deposit from the IRS; I just mark the checking vs savings box. All of the accounts are my SSN with different extensions. Now the IRS says to call back later because part of their system is down. AAAARRRGGGGGHHH!!!! Does anyone have any experience with this kind of stuff. Maybe I should just finish up the damn return and file it ASAP.

Oh, I didn't want to hear that.....I forgot which day was the 16th....

This is the first time I've done efiled extensions, and because I am REALLY lazy, I did direct debit for my own. Now I'm waiting for the IRS to snag my money, which I authorized them to do on the 16th. Of course I woke up the morning of the 16th and remembered I had forgotten to move the $ into checking the night before and rushed upstairs to do it. I don't have any indication the IRS tried to snag the money earlier than that (my bank would have taken it from savings and charged a fee), and so I am still waiting. Has anyone had experience with direct debit, and is it just taking them awhile to snag it, or could SOMETHING HAVE GONE WRONG....there is my worry mode being activated. It was a big amt due, so I really really really don't want penalties when they finally figure out I didn't pay or whatever....?

Well, in one way, the PRINCIPAL of the bonds is not taxable to them...y'know, I get really tired of people sometimes. When I inherited some bonds from my grandma, I said 'Thanks Grandma', and was happy grandma had thought of me.

Couldn't remember where I posted. The question is, under what claim would he file the amended for 2005?

I posted this in another forum but didn't get any useful responses. TP had SSI back pay, and had to report repayment to Unum in 2004, and apply for a credit under claim of right for 2005. Does VT have a similar credit for 2005 under claim of right, or some other provision to recoup tax paid on income that was repaid? Or is it a misc itemized deduction like claim of right under $3,000? This is a repayment of about $20,000.

I'd say, so what, you are getting an extension. Didn't give 'em a choice after a certain date.

Transmitted to Agency means you should be good to go. Even if they are rejected, as long as they are rejected by IRS and not ATX, you have until the 22nd (I think) to fix them. I haven't seen an extension reject though..

I was wrong; must have been really bleary when I checked this morning; I AM done! all extensions, and efiles accepted. All on extension have been informed that I will not so much as LOOK at a tax return for the next week! And for the next two weekends, no one is allowed in the office either.

go to 1040EF tab. highlight the pin and the checkboxes with the ERO signed, and the ERO pin. As you tab to each field, hit 'delete'. When all info is deleted, go to efile, and hit create efile. Check Fed Extension (and only check Fed extension!). Close return. Go to efile tab. check created efile for client and click 'transmit'. Watch the transmission box go through its thing. come back a while later and under efile, click on 'receive acks'. Voila! I swear, you'll never go back.....

I'm still waiting for two ACKs, but I'm at work so I can't check. The IRS has not yet sucked my payment out of my checking account for my own return, though. All my extensions are done. Yesterday, I actually did some yard work. I like doing yard work. Its my first exercise since January. Joan

The nearest river is about two miles away. Usually I have pond in my field this time of year, but its been so dry, there wasn't one this year. Maybe I should put a sign out front "Joan's Frog Sanctuary" My supervisor said her neighbor had the same thing happen last year and ended up with a frog infestation. Said it got pretty gross, but I figure if I do, it should be amusing for my kitties and dog. I think I should move them farther away from the house though.....

ahh, the froggy chorus has started....ribbit, ribbit, ribbit

remove the ERO PIN too.

I haven't had pancakes since my boyfriend went to Germany to work. I was trying to teach him to cook, so I would be fed during last tax season. He got really good at pancake and waffles. Not too bad at spaghetti either. Oh well, microwave some ribs. The dog will be very happy.

I think I'm gonna have me some more ribs, and watch another movie. I'm smiling at last.