ILLMAS

Gulf War Vet

Who took a picture of my office?

Is there an ATX facebook page? I recently opened an account and have very little friends

I have a new TP that hasn't filed (6+ years), I know he is going to get hit with penalties and interest etc..., how far back can one request penalty abatement for reasonable cause? Thanks MAS

Is the reimbursement to the spouse part of wages? If no, then her employer is breaking ACA rules which have a hefty penalty. Even if the employer of spouse reimburses the husband employer, they are still breaking the ACA rules because it seems they are purposely avoiding coverage. MAS

I have more info on what to do about it, please PM me and I will send you the information.

H.R.1223 - To amend the Internal Revenue Code of 1986 to prevent the retroactive claim of the earned income tax credit after issuance of a social security number. https://www.congress.gov/bill/114th-congress/house-bill/1223/text

I attended a tax training update this past weekend, the instructor mention there is going to be a big problem for individuals who own Medtronic plc stock, see attachment for more details. 2016_01_11_10_46_56.pdf

Can the corp pay dividends if the RE are in red? Normally no, dividends are paid from accumulated profits. Can the corp pay dividends if the capital and RE accounts combined are positive (up to $50k in this case)? ^ Can the corp pay dividends over $50k here? ^

What the did TP say when you asked them why took out distributions instead of paying off the credit?

"Although it is called a “Solo” 401k, you can actually set up for you and your spouse. If you have a bona fide partnership, it would work for them as well. " I would take a look at the following link: http://benefitslink.com/m/qa.cgi?db=qa_who_is_employer&n=154

TP sold his building under bankruptcy (section 363) and there will be no gain/loss, in ATX under disposition, do I select "Do not calculate gain/loss"? Also, is there a special form that needs to be prepared besides the 4797? Thanks MAS

For those that like DWS, can you imagine this song being danced too. https://youtu.be/GEdXagVh-Rs

I have around 15 1099 clients, but I received a message from CCH that they need my credit card info for 1099 processing. MAS

Is ATX charging a pay per return fee for 1099's starting this year?

I have a question, how do you report a property that was sold pursuant to a confirmed plan and section 363 of the code the IRS? Thanks MAS

I figured it out, firefox and internet explorer for some reason don't work, chrome was the only browser that did.

Do you know if they changed the login website? A couple of my clients cannot login this morning. Thanks MAS

Anyone received their package yesterday? I haven't opened yet, but looks like they changed the packaging design.

A friend of mine call me and I was not able to answer her question, hopefully someone can help me. She bought a business from someone else and have been making two payments to the seller, one payment is for the goodwill and the other payment is for the shares (S-corp). The seller is financing the goodwill and the shares, my friend makes payments for the goodwill from the business account and she pays for the shares + interest from her personal account. The question is can she deduct the interest paid on the financing of the shares she pays? Thanks MAS

Husband is 62, wife is 66 in 2014, ATX is calculating EIC, but when look up the rules for "If you don't have a qualifying child" that you must be at least age 25 but under age of 65 to qualify. Here is my question, is ATX qualifying the husband only and therefore they qualify? Thanks MAS

Return was accepted last night, thanks for the tip.

I resubmitted it, I will let you know how it goes. Thanks

Anyone know if the IRS is accepting 2013 returns? I submitted one this morning and I received an rejection error "Year in submission ID is incorrect: 2014 should be 2015.

I have friends that have every minute of their life planned out, talk about having all the time in the world