Gloria

According to Arkansas State, they are accepting Sub-S Corporation returns via E-file. I updated the forms but I do not see the E-file forms. When I select E-file, only the Federal return is created. Has anyone had any luck creating an E-file for Sub-S corporations for Arkansas. The personal return works ok. Thanks in advance.

Student's parents paid $906 ($453 each quarter for two quarters) directly to a University to cover the tuition portion that Cal Grant did not cover. During the third quarter, the student takes a student loan in the amount of $1,800 and the University kept $412 to apply to the tuition (the portion that Cal Grant did not cover). So it seems that the parents should be able to take the educational credit in the amount of $1,318 ($906 + $412) plus $600 for books purchased for their dependent child. Form 1098-T shows the following: Line 1-Payments Received (Blank---but payments were made to the University). Line 2-Amounts billed for qualified tuition: $6694. Line 5-Scholarships or Grants: $7,666 -- So it appears that the student received more grants than what was billed. But the student only received a Cal Grant that totalled $5,472 and that is why the parents and the student made the additional payments to the univeristy. I want to calculate the credit but I do not want the parents to have to deal with audit issues in the future. I was going to contact the University to get clarification but on their web page it shows that they contract a 3rd party to complete the 1098-T so I may have problems making contact with the 3rd party. What would yo do? Would you calculate the credit? Thanks in advance for your help.

I updated - no major problems or improvements but a lot of the returns that were marked completed were unmarked.

Can AR Corporate returns be e-filed? If so what is the form that I need to use? Thanks.

Has anyone encountered the following error: CA-FTB-3885 Error due to R&TC Section? I cannot enter the R&TC section directly on the Corporation Depreciation & Amortization Form --Modifying is not allowed. All the information pulls from the Asset Entry form, but there is no section on the asset entry form for the R&TC Section. Last year I was able to input information directly on the form. Thanks in advance for your response if you have encountered the problem and figured out how to fix it.

I was pretty sure about the usage fees, but what about amounts charged for school bonds (in many areas where new schools are being build, taxpayers pay for a portion of the bond with the property taxes).

Are you only deducting the amounts on the property tax bill that have a percentage allocated to each Taxing Agency and not deducting the amounts that do not have a percentage (school bonds, garbage, sewer, land use, etc.)? Just want to make sure I am not short-changing my clients.

No, there is no code reference. The distribution would only take place if the person's position is eliminated and is laid off. The concern is that the person will be a few weeks short of turning 55 when the lay off's occurr. So if the person is not 55 when the layoffs occur, does that mean that the penalty will apply eventhough the person would be 55 when the distribution request is made?

For those of you that are experienced with early distributions, please help me with the following question: Does the following mean that the person needs to work until the day the persons turns 55 or does it mean that the person needs to be 55 during the tax year? From Publication 575 (Page 33): Additional exceptions for qualified retirement plans: The tax (early distribution tax) does not apply to distributions that are: From a qualified retirement plan after your separation from service in or after the year you reached age 55. If a person's job is eliminated a week or two before reaching age 55, can the person take out distributions without the penalty or would the penalty apply? Thanks for your response/s.

For a qualifying child she does not have to provide 50% of the support - see below: Support — the person did not provide more than half of his or her own support during the year. The new rules state that the qualifying child must not provide more than half of his or her own support. This is different from the old rules. Under the old rules, the taxpayer had to provide over half the support for the child. The change makes it easier for families relying on public assistance, charity, and gifts from family members to claim a dependent.

Are any of you members of NATP (National Association of Tax Professionals)? I received an e-mail with the following offer: "For a limited time, if you join NATP at the member price of $147, we will give you our Registered Tax Preparer Review Course DVD ($65 value) and a RTRP Course Electronic Textbook ($80 value) at no cost. This offer expires December 31, 2011." I am thinking about joining. I you are a member, please let me know what your experience has been with this organization. Thanks.

Do you agree with the comment made in the article listed below regarding the deduction of clothing that contains the company logo? I could not find that information on Publication 529, Miscellaneous Deductions. I have a new client that has a Road Service Company and he wears Khaki pants and blue shirts (all his shirts have his company logo embroidered). I am trying to determine if I can treat the cost of the shirts as an expense. Thanks. Are Business Clothes Tax Deductible? By: Jacqueline Thomas Are business clothes tax deductible? For those of us who are required to wear a specific uniform, the benefit to purchasing it is the possibility of getting that money back. It may be difficult to believe, but some employers require specific uniforms without providing any reimbursement when the employee purchases these items. For example, construction workers who must buy their own hard hats, protective glasses and special boots can benefit greatly from this tax deduction. In order to take advantage of this tax deduction, you should keep meticulous records and receipts. What is and isn't covered? If you're looking for possible tax deductions, keep in mind that most business clothes are not deductible. For example, a business suit is not tax deductible. Some people may argue that they wear business suits exclusively for work, but the IRS only allows for clothing that cannot be worn in any other setting than your work environment. It is possible to wear a business suit outside of a work environment, but it is far less likely that you will wear a firefighter's uniform when off duty. This deduction provides relief for nurses, postal workers and bus drivers, just to name a few. You may also claim a deduction for any article of clothing that contains a company logo.http://www.life123.com/career-money/taxes/tax-deductions/are-business-clothes-tax-deductible.shtml

Yes, that is what I did, per the instructions on top of the 4852 (Instructions in Red on the ATX program). Fortunately, I had the employer's information on the prior year's W-2---the employer ID numbers were not on the last paycheck. I checked the E-filed forms tab on the clients return but the 4852 is not listed on the tab as being included in the transmission.

I e-filed one yesterday and it has been accepted.