schirallicpa

I just opened the NYS form and see it hasn't updated yet. Thank you though for the update. This tax season is just nuts!

I feel like Andy is peddling as hard as he can to save his own butt. We are also legalizing pot.

I live in New York - not very much is sensible here.

the 5 days is driving me nuts! When did we start doing this? I get if there are updates and needs to change. But I efile a federal return on Wednesday and get around to efile the state on Monday and I have to spend how much time piddling around to create it again. grumble mumble.....grumble mumble....

I have client that filed his tax return in February. He received a letter from IRS to go to this website to verify their name. Has anyone else seen this ?

If you try to create the efile, will it tell you to attach a pdf of the signed form?

Glad I read this. I over-rode one a few days ago.

Honest to God have you ever seen a specific in any one's partnership agreement. Lawyers tend to have pages and pages of bunk, but very little specifics.

She's 22 so normally I think we would consider her young enough to be okay with this. However she has Type 1, Celiac, and Graves disease. So I'm very worried about her. For those of you so inclined, please join me in praying for her. Thank you.

I took over a partnership this year. The previous accountant had always made monthly draws "distributions." The partnership makes enough money that basis is not an issue. I want to move distributions entirely to guaranteed payments. However, they are actually taking each a monthly draw - say $1000. And then on top of that they are being paid for any extra loads they take on. (It's a trucking company). So absolutely I think the loads that they are paid for are guarantee payments. But I also think their monthly draws are guaranteed payments. Now I'm hesitant that in the big picture they will/may get hit harder with personal tax and if thats the reason the previous accountant was calling the draws "distribution." The partnership agreement really doesn't address particulars except to say that distributions of capital would be voted on by partners.

Get a copy of the legal document and see how it transferred. Usually its the daughters 100% at passing.

It was actually pretty handy to check the old ones since we're still doing 2020 returns. IRS - always out to help the preparers......not.

Maybe I'm just too tired, but I am only finding now the 2021 get my payment status link.

Woohoo - partial credit. Thanks! I was just hoping for my client that didn't get the news in 2020.

The last update i find from March 10 says it's still up in the air. Just wondering if anyone has seen something definitive

Never assume the investment company is right with tax stuff

I thought Trumps last act extended another 180 days.

Am I correct that the distributions can be made penalty for covid reasons into 2021 thru June? With the same 3 year payback/tax deferral??

Ok - thank you! I thought I had to report a sale of the property. Glad I asked. This forum is the best.

Client had a rental property that he gave to his son. The "one dollar" transaction. The property was valued at$107000. So I believe a gift tax return is applicable. But on the disposition, I believe I need to report a sale. But do I show as sold at the same value that we report the gift as being, the 107000?

I've seen quite a few goofy FICA withholdings. I suspect this is all going to snowball at some point.

I had printed out all of the copies for the client. I had to go back into the return to re-print a PA return. And I when I looked at the federal refund, it had changed. Then I see that the taxable amount of SS had changed by $300. And I swear I didn't do anything but re-print a PA40! I double check all my numbers. I don't see that anything has changed. Except taxable SS. I'm so confused.

My beef is with the driver's licenses. In NY you have to put the document ID from the back of the license in to ATX. They can't print them any smaller! I probably have half of them input wrong. "is that a 6 or an 8? is that a capital I or a 1? is that an O or a D?"

1o is the Federal figure. NYS would normally base tax on the Federal figure +/- allowable NYS adjustments. So this makes sense to me. I've done plenty as I live very close to the PA border.