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GLJEANNE

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Everything posted by GLJEANNE

  1. In the House bill, PPP up to $350k, and the UI exclusion. And expansion of the renters credit. Those are the 3 2020 items I heard, but there could be more. I listened to the House Tax Comm discussion 2 days this week. They've now passed it out of committee, and it has conformity for both those items in it. I have no idea if they've also conformed to the stupid $300 deduction, or the 3-year spread for distributions. BUT - this is only the start, they still have to duke it out with the Senate (though the GOP does strongly support the UI and PPP provisions). Because they rolled conformity into the Omnibus Bill, it's in peril as the GOP hates a lot of 2021 provisions. Maybe just a scare tactic, but the GOP members were saying it could take until July to agree on a bill. They're pissed that conformity isn't separate. So, I'm holding all mine with PPP and UI a little longer. Basing estimateds on current law. If we get close to 5/17 and the legislature hasn't made progress, I'll give clients a choice of how they want to deal with it. Might make sense to file without paying the tax on those 2 items, and hope that they pass.
  2. Bizarre! Worst case, put both premiums under the t/p's business, it doesn't really matter.
  3. And are both businesses listed at the top of the Line 16 worksheet - Business 1 and Business 2?
  4. I've been amazed also at the people who can't remember. But I nag them a few times to check their bank records, and if they still maintain they didn't get it, or didn't get the max, I put it on the return that way and just warn them that if they're wrong, it will hold up their refund while the IRS gets the correct amount. Now I see the IRS is planning to send out letters, so cue a wave of calls.....
  5. Same. It crashes randomly no matter what I'm doing, but often when I check the News. I suspect with all the federal changes, they just haven't had time to deal with non-tax technical glitches this year.
  6. Seems like it shouldn't have taken so long to come up with such a simplistic solution , but here we go: If someone owes APTC, just delete the form from the return. LOL "As part of the American Rescue Plan, it was determined that any excess advance health insurance premiums credits from Form 8962, Line 29 do not need to be repaid (Form 1040, Schedule 2, Line 2). On 4/1/21, IRS provided guidance for preparers and announced the following: Preparers should not send or e-file Form 8962 when Line 29 is greater than 0 IRS will suspend any correspondence that is generated if a taxpayer gets Premium Tax Credit (PTC) and does not send in the Form 8962 reconciliation Exception: Form 8962 will still be required to claim any credit on Line 26 We have not yet updated ATX to accommodate this change. What this means for you: For returns where Line 29 is greater than 0, you can: Discard Form 8962 from the return and e-file; OR Wait until the ATX change is made to accommodate this regulatory update."
  7. I would guess they're overwhelmed trying to keep up with the IRS and state changes, no time for technical fixes that don't change the numbers. I know there's a lot of crap that doesn't work quite right on MN's returns.
  8. I hear you, I had one in Feb who blew up at me for something that the next day proved to be their fault. Hope your husband finishes his recovery more easily.
  9. That's been my experience with several clients this year.
  10. Catherine, MN needs to do that too! They haven't even worked out which of the gazillion federal changes from last year we'll conform to. And the legislature is in session until around May 17th, so that's when they'll probably do something. Absolutely the feds and states need to match the Estimated dates to the return dates!
  11. Just when I was feeling excited that ATX had updated. Last year was the Season-that-just-won't-end. This year is just the Season from Hell. Dumpster Fire indeed.
  12. Just what I was coming in here to ask about! If no one's heard anything, we'll just wait...... Hopefully not as long as we have to wait for the UI fix, seems like the date should be a simpler fix.
  13. And I don't think they've addressed the APTC issue yet, but that seems like an extremely easy thing for the IRS to do themselves, so hopefully no amendments there either!
  14. I had a new client who requested transcripts over the summer. We've yet to see any transcripts, of course, but they had no problem cashing her check.
  15. IKR??? I'm tearing out my hair because MN hasn't passed a damned tax bill for 2020 yet! So many federal changes, and no idea which they'll conform and which not. They're always late, but we've never had so many changes like this.
  16. Oh Bonnie, that's horrible, I hope you both make speedy recoveries!
  17. I would say it hinges are what his plans were back in Dec when he got the notice. Was he planning to retire? Or was he planning to look for other work. If he was going to job-hunt, then it's Covid related, since almost no one was hunting or hiring last spring.
  18. Bingo! Last year was miserable with returns just dribbling in. I don't want a repeat of that, and most of us had plenty of time to plan for the new season (in terms of doing things remotely), so I was opposed to it until this week. But between this, and my stupid state legislature STILL not close to deciding what 2020 provisions they'll conform to, now I'm rooting for a later deadline.
  19. Much as I hate to have another never-ending tax season, they almost have to extend the deadline now. How is the IRS going to figure out their system, all the tax programs re-do their software, and all the state figure out how to conform or not, and then all of us catch up with all the effected returns, all within 5 weeks??
  20. Oh, good to know, guess I've never tried that!! Well I hope you find a solution, I have one with the 1310 coming up too. It might be one of those where we have to attach the form as a pdf.
  21. Because it's too late to e-file a 2019? Can't we only e-file the current season?
  22. Oh Rita, I'm so sorry. May her memory be for a blessing.
  23. I agree, I haven't found anything more recent that says the Dec bill changed the taxable nature of it. If we're wrong, at least our way will mean a refund, not an extra tax bill.
  24. Oy. Mine crashes at least once a day this year, but I've been using it to remind myself to get up and move around, lol.
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