schirallicpa

I think efiling for Fed tax returns was Jan 23.  But I wasn't sure if that meant the states were out til then too?  

Edit:  Answered my own question. - Nope -Can't efile state.

I have used an amortization schedule online for monthly payments forever.  And - out of the blue - I have 2 clients that need weekly amortization.  I have poked around looking for one that I like but I'm looking to see what anyone might recommend.  

TIA

This is a fairly large NP that must file a 990.  They didn't file 2020 due in 2021.  Ok- you can probably blame covid.  Then they didn't file 2021 due in 2022.  Well - shouldn't they have gotten a notice by then?  So then they didn't file 2022 in 2023.  Hmmm.  No notice?  No "hey you gotta file?"  They claim not.  Regardless, as of May 15, 2023 they lost their status.  I did not have that notice.  Tried to file 2020 and 2021 and 2022 in Oct.  Nope - all rejected.  Oh - we got this notice of revocation - do you think that's why?  UGH!  Now - who gets a handful of crap when I tell them we have to re-apply for status?  And they don't know where to find articles of incorp.  or bylaws.  or any originating paperwork.  Sorry - I can't make up this stuff for you.  

What is with these small NPs!  I get so aggravated.  It's a boys club and they don't want to pay for a bookkeeper and they don't want to take the return to someone to do right.  So here we are with them calling me up saying they can't sit around and wait for their exempt status to be re-approved.  Well - file as a c-corp.  

Grumble mumble.......grumble mumble.....

The case was a sole proprietorship and the total money was around $25000 -Sales tax and I&P.  I don't remember the actual tax amount now, but I think around 14K.   It took several months but finally got a settlement for $5000 in the fall of this year.  About 15 month process.  I had to fill out paperwork under the EIN number as all zeros and then paperwork under individuals SS# providing her personal assets and income.  

I just don't see where I can put in anyone else's information.  Mine is in there and I can click in and out of "make a payment" all day and it still has my info in there. 

If I log out and try to log in with another EIN, it wants a PIN and password.  My clients are not likely to have a PIN,  This is way too complicated - I'm trying to give you money, IRS.

Yes - the changes to EFTPS IDme stuff has been beaten to death here.  But, let me just bring it up one more time.  Because I cannot figure out how to make a payment for a client that is a business.  When I log in it only shows my EIN and my name.  How do I add more businesses to my account?  

Auxiliary of the church.  It's actually for the cemetery maintenance.  A man donated land and money to our local RC church in the 1930's and the investment has always paid for the maintenance.  In fact the formal name is St. Mary's Auxiliary Association of Bolivar New York, Inc.  And everything has run along all nice and smoothly until someone at the investment firm wanted all the i's dotted.  

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From IRS

Annual Exempt Organization Return: Who Must File:

Every organization exempt from federal income tax under Internal Revenue Code section 501(a) must file an annual information return except:

A church, an interchurch organization of local units of a church, a convention or association of churches

An integrated auxiliary of a church

A church-affiliated organization that is exclusively engaged in managing funds or maintaining retirement programs

 

Quote

Quote

 

 

This organization is an auxiliary.  So maybe they were excepted.  Only now - we're in a situation where an investment firm has held funds for years and years and in order to get that money, the investment firm wants proof of exemption.  That's why we are on this road.  So - I'm kinda not sure which direction to go.

Also - don't ask me what I'm doing with all the quote things. 

Actually I had tried the TEO search and found nothing.  I only found on NYS DOS.  

Margaret - thanks for your input.  I will note though - churches themselves do not have to file 990s. So would a church get a TE letter from the IRS?  Or would they just have the state level registration and possibly an EIN.  I haven't dealt with any churches.  (Although the way this year has gone, someone will come knocking tomorrow)

This is truly the year of new problems for me. 

I have been given an organization that's been around since 1937.  No 990 of any sort ever filed.  They have even had a payroll at one point, and they have their EIN, organizing documents,, etc.  They are on the NYS DOS listed as a domestic not-for-profit.  But no letter from the IRS saying they are exempt.  I attempted to put them in the 990N system and got an error message. Am I going to have to apply for exempt status?

Thank you - I was googling, and you know how that goes.  You get HRblock level info.   So I saw this morning that 2553 has to be wet. 

I'm thinking the 2848 has continued being ok as electronic- originally e signature was supposed to be a covid thing, but I believe they extended that indefinitely.  

Can we still fly 2848 with a docusign, or are we back to wet signature?

And if anyone knows - are 2553s wet signatures regardless?  Or has the IRS stepped up?

For tax season this year I want a summary page for all of the Sch E's.

Thank you, Santa.  

Yeah - I think so.  Over the weekend I read that the retained earnings doesn't come into play. 

Have you guys using Splashtop been comfortable with the security.  IRS compliance?

I feel like I'm doing this wrong.  C corp.  1 shareholder.  Not my client - or I would have had him become an S corp years ago.

Sold assets and closing corp.  Tax preparer of past wants to distribute dividends.  I'm not sure.  I think this is liquidating distributions and dividends maybe should have been paid in the past.  But it's all done, and I have been asked to prepare final return.

TP gets:  Cash and Note totaling: 202278.

His stock and APIC total: 62600

Unappropriated RE totals: 101291

He has personal gain on 1040:  38387

??

Am I off the rails and clueless here?  Blind leading the blind?  Please be gentle with me....

I have a handful of small 501c3s that file 990N.  And in the past i have been able to log in and see all of them and see the status, etc. 

Now - when IRS makes me log in with IDme I am not finding anything.  

Ummph

I have a handful of small 501c3s that file 990N.  And in the past i have been able to log in and see all of them and see the status, etc. 

Now - when IRS makes me log in with IDme I am not finding anything.  

Ummph

My client needed to amend 2020 and 2021 for ERC 941 amendments.  This changes the carryforward of RE on the BS.  Do you recommend amending 2022 for these changes that are only affecting BS.  (Client is a C corp)

The LLC is just being created - real estate to be moved to it - but I don't think the LLC gets anything more than the current owners cost basis.  Just wanted to quickly double check

Funny - when I typed that I typed condumdum and I think that makes more sense.

Just venting.  The IRS advised the NP Org that they will not accept paper filed returns.  They had been mailing in very shotty attempts at a 990 for the last few years.  They - as typical small NP - ignored notices first notices that apparently had been mailed to them in May.  In August they came to me.  It has taken since then to compile 2020, 2021 and 2022.  And now the returns are rejected because they have lost exempt status.  

I have a client that thought he was getting a big ERC credit and that did not work for him - because his business grew during the pandemic.  So he is now looking for money in his wife's retirement account and thinks there must be a way to avoid tax and penalties.  

Did this expire at the end of 2022?

Glad I opened this thread - had totally forgetten about doing my payroll reports.......