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You might want to check out taxact.com I believe they let you file the federal for free (for one return) and charge a nominal amount to file the state return.

Look at Part II on Form 8606, you should see the income broken out between 2011 and 2012. Also if you look at the Tax Summary/Carryover Summary, it appears on the carryover summary.

This is from the IRS Manual: 20.1.5.4 (07-01-2008) Post-Assessment Abatement Consideration of the Accuracy-Related Penalties Whenever a taxpayer has the benefit of Service contact with respect to an examination and is afforded the opportunity to provide documentation to explain unreported income, but does not contact the Service, we issue the statutory notice showing additional tax and applicable penalties. When the notice defaults and no taxpayer contact was made, the tax, penalties and interest are assessed. If a taxpayer receives notice and demand for payment and then makes his/her first response to the Service requesting abatement of the accuracy-related penalties (while not disputing the tax liability and not requesting or not being eligible for audit reconsideration procedures), abatement should be considered based on the evidence provided. The function responsible for the penalty assessment should decide whether the penalty should be abated. If the evidence is not sufficient to support a reasonable cause claim for the penalty abatement, the taxpayer should be issued the appropriate letter to indicate that the abatement request is denied and the remaining recourse is to pay the tax, penalties and interest and file a claim for refund on Form 843, Claim for Refund and Request for Abatement. Post-assessment consideration of IRC section 6662 and 6662A accuracy related penalty abatement requests are not forwarded to Appeals.

Taxpayer passed away in 2010. His W-2 has wages of $50,000.00 in box 1, $1,500 of which is vacation pay paid to his widow subsequent to his death so this would need to go on the Form 1041. I just opened the Line 7 box and added "Vacation Pay paid after death transferred to Form 1041 - $1,500.00 on one of the blank lines. Planning on attaching the line 7 detail to the return. Is this the proper way to handle this? I don't want a letter saying the W-2s don't match the return. Thank you in advance for your help.

The IRS has a research tool called tax map http://taxmap.ntis.gov/taxmap/ You can search on the left side of the page for your topic by letter (i.e. "M" if you're looking for "Minister's tax") or by phrase, and it shows you what forms and publications are applicable and lets you jump to them.

Check out http://www.lasermonks.com/ In addition to the name brand toner, they have compatable toner (which I have been using and am very happy with it). They also have an eco-friendly soy toner which I haven't tried (yet). They constantly have promotions where they e-mail you free shipping on all orders the next three days or 40% off name brand toner, etc.

The Idea: A, B, & C decide to open an LLC with A owning 25.5% of the business, B owning 25.5% of the business and C owning 49% of the business. Profits & losses to be split in their ownership percentage. A & B were to contribute $1 million each to start up and run the business, C was to run the business and was not required to provide any upfront money. Reality: A & B contributed the $1 million each. C ran the business. First three years tax returns filed showing A & B as 50% owners and sharing income and loss in that percentage. To fix this: The LLC Operating Agreement is written up (another little thing that was over looked, no written operating agreement) to show C as a 49% owner as of 1/1/2010 (with no capital contribution from him) and partners A & B changed to 25.5% ownership and profit & loss splitting (note: 1/1/2010 was selected as going back prior to that would mean amending all of the LLC and individual member returns). Under the "Dissolving or selling interests or buying out a member" section of the LLC operating Agreement, a section detailing how A & B would need to recoup their 12/31/09 capital account balances prior to C receiving any share of assets, and at that point the three members would split the assets in their 49/25.5/25.5 percentages. Questions: 1) Would a gift tax return need to be filed (I'm thinking "No".)? 2) Has anyone seen this in action? If so, did it work, or was it a disaster? Thank you in advance for your responses.

http://www.examiner.com/special-education-in-national/tutoring-and-special-education-schools-are-medical-tax-deduction-allowances This refers to an IRS publication at the end.

Taxpayer passes away on 11/15/2009. On 12/10/09, his brother, the executor cleans out his home and donates $29,000 of clothes, furniture and household items to the Salvation Army. Are these noncash donations claimed on the deceased taxpayers schedule A of the 1040 for 2009 (i.e. his last Form 1040), or in Schedule A-1 of the estate's Form 1041? Thanks in advance for any response.

You might want to take a look at MYOB http://myob.com.au/business/products-1258090781431

That is correct, they don't believe they filed for Federal exemption. However, when they were a branch of the national 501©(3), upon breaking away from them, would they retain their federal exemption under 501©(3) or would they revert to just a regular corporation in the eyes of the federal government and should have been filing form 1120?

Recently, I've been working with a small NY based athletic not for profit. They were founded in the late 70s as a NYS not for profit, but never filed for the Federal recognition. Roughly 2000, they became a part of a national 501©(3) organization and were told that they needed to file a separate Form 990. They complied. After two or three years, they felt that they weren't getting their moneys worth from the national 501©(3) organization and broke away. They continued to file the form 990. They do not show up in a search of Publication 78. I was considering contacting the IRS to find out exactly what the IRS had them listed as. Note Revenues for the last few years are greater than $25k, but less than $100k. 1) Is there any downside of doing this? I think they should know for sure what they should be filing and where they stand with the IRS. 2)I presume I would just get power of attorney and then call the not for profit unit in Utah, Is that correct or is there another way to handle this?

In 2008, a minor had capital losses from the sale of stock of $20,000. I filed a return for him and the losses wiped out any taxable income with a carryforward loss of $16,000. This year, the Minor has about $100 of income. Is it necessary to file a tax return for him to keep the carryforward loss rolling forward? Thanks in advance for any answers and insight.

I use Trend Micro Internet Security and have been happy with it (i.e. easy to use, install, etc.). I used to be Controller for a company that did Internet Security and that's what they recommended to their clients. If you go to cnet.com or any of the shareware or freeware sites you can download a trial copy of this (generally 30 days) as well as a good many of the popular internet security programs so you can try them before you buy them.

Can a sole member PLLC be reported on schedule C of an individual tax return or must it be reported on an 1120S? A client just e-mailed me her information yesterday that she started a PLLC in 2009 and I just want to make sure that you can't do this before I tell her she missed the PLLC due date by a month. Thanks in advance for responding.

As per this weeks NATP TaxPro: Economic Recovery Payment Look Up Tool In last week’s issue of the TAXPRO Weekly (March 11, 2010) NATP provided you information on a new tool the IRS created for taxpayers to determine whether they received an Economic Recovery Payment. The IRS has extended that service to tax preparers to look up that information on behalf of their clients. The service is available by calling 866.234.2942 to access the phone application. Tax preparers can also access the tool online on the IRS http://www.irs.gov/individuals/article/0,,id=219514,00.html?portlet=4 The preparer will have to enter the taxpayer’s SSN, date of birth, and zip code from the last filed return. Only one payment per taxpayer can be accessed at a time.

I'm hoping someone can point me in the direction of law that discusses private family foundations, private foundations and public Charities and their need for an audit. So far I know: a) a funding source can require an audit as condition for giving the nonprofit the funds. the state's Attorney General's Office can require publicly supported charities to furnish audited financial statements if revenue and or assets exceed a certain number (depending on the state). c) the Single Audit Act and OMB Circular A-133 - The Single Audit Act requires states, local governments and nonprofit organizations that expend $500,000.00 or more of federal awards in a year to obtain an annual audit in accordance with the Act. However, I'm sure I'm missing more. For example, I found one advertisement that says Private Foundations with > $2 million in assets or revenue need an audit (haven't located the particular source of law though). Any ideas where to look? Thank you in advance for taking time to answer.

I have not had any line 33 entries either. Does your taxpayer qualify for line 33? Eligible taxpayers engaged in providing “primary care” medical and/or dental services at a qualified practice located in or within five miles of a designated Health Enterprise Zone (HEZ) enter the amount of their HEZ deduction on Line 33. Partners and S corporation shareholders of a qualified practice enter the HEZ deduction amount listed on Schedule NJK‑1, Form NJ‑1065, or Schedule NJ‑K‑1, Form CBT‑100S. Sole proprietors must calculate the amount of their HEZ deduction for Line 33. For information on eligibility requirements and how to calculate the HEZ deduction, see Technical Bulletin TB-56, Health Enterprise Zones

This is probably the site mentioned in one of the above posts: http://www.ripoffreport.com/ You may want to refer her to this site for job search tools: http://www.ramseylibrary.org/Job_Seekers.htm

http://www.irs.gov/businesses/internationa...d=96739,00.html don't see it here, but they refer you to another page as well.

You may want to check http://www.fairmark.com/traders/index.htm for a wealth of information on Day Traders.

The Irish Bagpiper > >> As a bagpiper, I was asked by a funeral director to play at a graveside > > service for a homeless man who had no family or friends.. The funeral was > > to > > be held at a cemetery in the remote countryside and this man would be the > > first to be laid to rest there. > >> > >> As I was not familiar with the backwoods area, I became lost and being a > > typical man, did not stop for directions. I finally arrived an hour late. > > I > > saw the backhoe and the crew who were eating lunch but the hearse was > > nowhere in sight. > >> > >> I apologized to the workers for my tardiness and stepped to the side of > > the open grave where I saw the vault lid already in place. > >> > >> I assured the workers I would not hold them up for long but this was the > > proper thing to do. The workers gathered around, still eating their lunch. > > I > > played out my heart and soul. > >> > >> As I played the workers began to weep. I played and I played like I'd > > never played before, from Going Home and The Lord is My Shepherd to > > Flowers > > of the Forest. I closed the lengthy session with Amazing Grace and walked > > to > > my car. > >> > >> As I was opening the door and taking off my coat, I overheard one of the > > workers saying to another, "Sweet Jeezuz, Mary'n Joseph, I never seen > > nothin' like that before and I've been putting in septic tanks for twenty > > years." >

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Thank you!

A student (resident of NJ) earns $749 in Philadelphia from 01/01/08 - 06/30/08 and has $28.00 dollars local tax withheld. Questions: 1) What tax form does she file? Is it the "Annual Reconciliation of 2008 Employee Earnings Tax" or some other form? 2) If "yes" to question #1, since line 12 would equal line 13: a) it's the necessary to file a Change form and cancel this account? I would sign it as preparer (taxpayer doesn't sign)? c) In section 6, would the explanation be "Employer withheld the proper amount of tax on the wages earned? d) In section 6, Cancellation date is 6/30/08? 3) Or, is it only necessary to file a return when an incorrect amount of withholding is done (which seems odd)? Thank you for your assistance!