KEYWEST_RICKS

so we are supposed to pay the first estimate even though the return is not due until 5/15 and we can file an extension on 5/15.

what if we didnt send anything in 4/15 but increased the payment sent in with the extension on 5/15 so that the final return has an overpayment that we apply to next year estimated pmts

wouldn't this be considered a first qtr estimate still? 

thanks

jeff

Is anyone else having tech problems?  i cant seem to send efiles, login to the client portal system, or login to the atx support site

anyone else having problems?

jeff

for the first time my return is limiting this to $150 instead of $300

the number is $300 isnt it?   or am i nuts here?

The Form release date is showing as 2/16.  Am I crazy to think that is way late to have this form?

IRS.Gov says that both of the EIP payments have been sent.

the client claims he didnt receive the second one.

should we claim the credit or try to track down the check?   which is correct

thanks

jeff

For partnership I found the Sec 199 additional info I think under special allocation tab.....down to line 20

has for w-2 info and basis of property 

I cannot get the portal or the myatx web site to come up today.     any others with issues?

jeff

YES.... IRA     BUT    ANOTHER THING I BELIEVE HIS STUDENT LOAN INTEREST PAID WITH THIS TAXABLE MONEY IS GOING TO BE LIMITED

Client received a settlement as part of class action against a tech institute along the same lines as the case against Trump University.

The majority of which was used to pay of his student loan dept.

You all are with me correct that this is taxable income.  He received a 1099 and I don't see that there is anything that lets me report this as non taxable income.

jeff

as a heads up for anyone else..... this had nothing to do with they type of return filed.   

I think it was that my cr card on file was not checks as the default card?!?!!?  at least that is what they told me.

so I go into myatx and make it my default card  and that lets my new efiles go through but any that had been rejected..... had to go in and delete the efile form

add the efile form to the return again and the create and submit the file again.

what an amazing waste of time.  the efile denial came from the agency not efc..... there has to an easier way to take care of this situation

I swear I think I am walking under a dark cloud these days

all of my returns now reject by the agency with something along the lines of  "the header of the  return doesn't match..... yadda yadda yadda

when I looked this up it seems that this is mostly if you are trying to file say an 1120s when they are expecting a 1065

these rejects are all individual returns................am I the only one??????

jeff

low income taxpayer received an ira dist check dated and mailed 12/30/2016...... obviously didn't receive the check in the mail until 2017....1099 is a 2016 1099... along with withholding.

probably not a huge deal except for advance premium tax credit..... now the taxpayer is over 400 percent of poverty..

entire aptc must be returned....which is a huge number.

does anyone think I have a snowballs chance of trying to argue constructive receipt and report this on 2017 instead of 2016

I am assuming is would get a notice and deal with that issue when I receive it..... does anyone think I would win in the end?

PREMIUM TAX CREDIT ALT CALC FOR YEAR OF MARRIAGE

man....it seems like I am just spinning my wheels!!!!   does anyone understand the alt calc for year of mar. for the premium tax credit?

I see the publication 962 schedule but this just seems to be sending me in around the block.

I have a seriously 15 min return here.... two w-2 and no itemized deductions..... except they both had marketplace for part of the year and got married in july.

I always work through the 8853 which eventually puts it as non taxable.

but also most of the ltc insurance policies I have seen reimburse on a per diem ......so just to be safe I put the 8853 in the return

can i add a wrinkle to the above post..... single taxpayer received two 1095.   which is correct since he switched policies in the middle of the year.   however, they over lap for a couple of months.  its like one policy waited to long to cancel or the other policy started two soon.

so he has coverage and premium tax credit from both companies for two months of the year.   when i do as jack says above he owes..... since it is basically saying he received

twice the premium credit he was entitled to for those two months.       

i wouldnt even think that the healthcare.gov would allow them to have two policies in the same month?    but that is the way its reported

any thoughts?

i say no on this but lets see if i can get any agreement........... have someone trying to convince me that if the scorp buys back its stock and holds treas stock that the s election is terminated.

due to an inelig shareholder.

i say that the shareholder rules only apply to shares issued and outstanding.

i understand that care must be taken to ensure you do not have a second class of stock....... but i think an scorp can own its own stock... yes???

can i get an amen on that or am i out in left field?

jeff

sorry to force all of you to be the ones that hear the scream but.................

AM I THE ONLY ONE ABSOLUTELY WANTING TO CHOKE THE LIFE OUT OF SOMEONE OVER THE PREP OF THESE 1095/1094 FORMS FROM THE EMPLOYER SIDE!!!!!!!!!!!!!!!!!

whew... sorry that is all

thanks!!!!

I know this has been beat to death in the past but I don't see any posts on this for 2015.  am I the only one having this problem with 2015?

it used to be annoying a couple years ago but after a couple tries it would go through.

no luck with 2015.  cannot open the software.

am I the only one?

anyone else on this.    had a handful of clients receive a notice of additional tax due from the Indiana Dept of Revenue.    basically said the 2012 return was matched to the 1040 filed with the IRS and differences were found and the taxpayer owed $90.  if the taxpayer disagrees they need to get a transcript from the IRS and compare it to the state return.

it actually has nothing to do with the federal return...... it has to do with the additional deduction for children of $1500.   the state simply disallowed this deduction and sent out a notice saying you owe the money.   when in fact they have no way of knowing if the deduction is valid or not.

.  this is a total fishing expedition by the IDR.    if you call the dept and say hey i am really supposed to get this they eliminate the notice.

however,    why didnt they send out a notice that says we are checking this deduction please call us so we can verify the deduction?  or something that even said what the issue was instead of a notice saying send us some money.   i am sure there are many people who dont owe this who will just say they dont want to cause trouble and send the money in.

what a joke!!!!!

sorry just venting and trying to see if others from IN were po'ed by this........ i have had calls from clients who were basically "hey,,, you screwed up my return"    when there was nothing wrong at all.

jeff

off topic but....jjstephens....... is that M. Van Buren?????

has anyone had any luck with a phone call to the irs?   all i have been able to get lately is sorry due to high volume we cant take calls.

jeff

i would say no..... AAA should not be increased by a timing adjustment.

is this a 2% s/h in s corp?   maybe they are actually taxing the health ins prem and including on the w-2?   maybe they misunderstand the pre tax??

just a throwing out a SWAG

I submit that to help stop fraud......

efile on your own should be eliminated. 

must use lawyer, cpa, enrolled agent etc to transmit even if the return was individually prepared.  

do away with turbo tax filings.

seems like job security to me....... is anyone with me on this???????????

of course they would have to include some type of credit on the return to cover the fee for low income.....

cmon.... i think i am on to something here!!!!