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schirallicpa

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  • State
    NY
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  1. Just wondering if anyone has a suggestion for planning/forecasting software. I haven't used any in a while. The last one I used was a very cumbersome excel based template. I need something to run and forecast numbers for a Taxpayer that is looking to finance purchase of an existing business.
  2. How many notices have your clients received from IRS stating that IRS has not received their $$. This is my new summer work. And of course, even though I told every single person that was sending a check by mail to copy their check and at least use priority mail, most did not.
  3. I just got someone done real quick because they need to get financial aid for their child's college. I'm thinking that when it's accepted vs. when it's actually processed may hold up the processing of FAFSA too. They have unemployment. The dominos never stop dropping.
  4. I'm dreaming of a real live April vacation next year. I wonder if tax season will be extended again.
  5. yep - I remember that from about 100 years ago.
  6. I may have asked this before, but cannot find. I have a client who was scammed and took out a loan for some dumb thing that she was taken for. When she realized that it was a scam, she contacted the lender and made arrangements to make a settlement on the account. This was in 2017 and 2018. She is an older woman and taken advantage of. Now, in 2020 she has received a 1099C for the settlement. Theft losses are not an option since no federal disaster. The reporting of the 1099 is creating about $5500 of fed tax. I can't use 982 - I don't think - because she really wasn't insolvent. Any suggestions?
  7. There are threads on this from years ago wanting to efile the 2290. And we still can't?!. Unbelievable.
  8. I am wanting to efile 2290s as well.
  9. I have a number of small farmers and they all jointly own the property, farm with their spouse. It's just such a pain to compile all the info and then have to cut it in half and override depreciation, etc. We used to have a check box to make it joint and then split the self-employment income.
  10. My confusion lies in why the state of PA sent a notice looking for a corp return. I am asking if PA would not leave as a disregarded entity unless an election was made. Maybe it works differently in PA?
  11. My client has received a notice that they had not filed a 2019 corp return for an LLC. I did some research on the PA DOS website and found the the LLC was created in 2013. My client Taxpayer is the only member. It has a separate EIN. I have done the taxes for this client for several years. They have never indicated that this LLC exists. I have always reported this as Schedule C. So - my question is, in PA is an LLC considered a corp? Do I need to respond by filing past due corp tax? Or can I respond by saying the LLC has always reported as a sole proprietor. I'm totally missing something here. Was there some election that should have been made so the LLC would be treated as a sole? I have never reported a different EIN on schedule C either. Appreciate anyone's' help. Thank you
  12. I have an Amish client that we've been around in circles trying to get him verified. He's filed for years. But he has no debt to use as verification. We are now waiting for the IRS to send him a letter with a super secret code. It's been over 6 weeks of fooling around.
  13. .....ugh.....do I have to change the FEIN for payroll............ It was a husband and wife and the husbands health issues have caused him to step down. So it makes sense to dissolve 1065 and move to Sch C. But I'mma gonna have ta change the payroll stuff, aren't I........ I want to dissolve with the 2020 return (which is on extension). But 1st quarter payroll has been filed under Partnership EIN. Have we waited to long to change now?
  14. I feel like they are automatically denying the first round. Re-word slightly, and send again.
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