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Everything posted by GLJEANNE

  1. Ugh, I've been wrestling with this one. Another accountant I know swears it was made non-taxable, that the Dec bill made all Covid credits, grants, etc non-taxable. So they're balancing it to Addt'l Cap Paid In. I can't find any reference for that, so I'm still thinking it a credit against Wage expense. I would so love to be wrong on this one, I'd just like a cite.
  2. I really hope this is one of those times. One, I don't want to be amending returns in the middle of the season, but those are folks who won't want to wait for much needed extra refunds. And two, I hate to have to charge people who are hurting for amended returns that aren't their fault. Seems like the IRS would be able to flag and recalculate those returns pretty easily, albeit maybe not until summer.
  3. So many returns to amend..... because of course, many of these folks are the same ones due refunds, and so come in early. Anyone think there's a chance the IRS will say they can figure this for returns already filed, and automatically issue refunds? Our state does that some years, when the Legislature doesn't conform to federal tax law until May. But Don't know if i can recall the IRS ever having to do it. Either way, I'm sure they'll issue guidance in the next couple weeks. Kind of feel sorry for them, having to do another round of stim checks right in the middle of tax season.
  4. LOL, it's downright balmy now, 40 degrees today and tomorrow. But mighty windy, so that sucks the fun out of it being warm. Otherwise I'd have the windows open.
  5. Oh Bonnie, I'm sorry. May her memory be for a blessing. I'm sure your clients will continue to be understanding, if you have to go for extensions.
  6. Aha, right you are, Lion! Once you create the pdf and attach it, you can still leave the original 8915-E in the return without error. https://www.irs.gov/forms-pubs/alternative-filing-method-for-e-filed-returns-that-include-form-8915-e-and-form-7202 Because Forms 8915-E and 7202 are new and impacted by recent legislation, IRS has provided alternatives for these forms to be included with an e-filed return. Some software providers allow the forms to be attached as a pdf, others as a statement attached to the filing. As an alternative to attaching a PDF of Form 8915-E or 7202, to increase e-filing and reduce paper filing, software providers may instead include with the e-filed return a general dependency statement that includes all the information requested on Form 8915-E or 7202 if they are unable to attach a PDF of the form. Such a statement should look similar to the following for Form 8915-E, or correspondingly similar for Form 7202. Forms that have been typically filed as a PDF in the past, such as Form 8915-E, or other new forms not yet on XML, should still be sent in as a PDF.
  7. They told me yesterday it would be this week yet.
  8. Here, election workers are W2 employees. Under $1800, they don't pay tax. Over it, and the county should have switched to withholding, but they didn't. The W2 is perfectly accurate for what actually happened. The only question is whether or not there is form to pay the taxes that can be e-filed. My guess is no, but I was hoping someone might have run into this before.
  9. Did you report it to ATX? Frustrating, after we've been waiting on 8915s, if they don't work right!
  10. No, this is not a payroll issue. It's purely a tax form question.
  11. Being long past the last day of the year, it's too late for the employer to do anything about it.
  12. Client was an election worker, went way above the minimum for having FICA withheld, but the county screwed up and never withheld. So her W2 shows 4k plus of income, but no taxes. Nothing the county can do it about it now, so she knows she'll have to pay up on her return. Ideas on what form to use to pay that?? 8919 doesn't apply. It's not unreported income, so not 4137. Although if I can't find another way, I'll have her paper-file and force the taxes onto 4137. But I hate to do that, she's getting a big refund, and who knows how much paper-filing will be slowed up this year.
  13. That sounds familiar! I had a client call me up late afternoon on NYE. Thinking of taking a couple hundred thou out of his retirement. No Covid problem, he actually made $100k in 2020, was amazed it was that high. Maybe buy another house, planning to retire in a year or two..... After going round and round, the reason he wanted to do it was he heard that Dems would raise taxes on people making $400k. Um - you just told me you were amazed your income went up to $100k, and you want to clean out your retirement in fear of that quadrupling in the next 2 years??!
  14. Unless the state Revenue department decides to automatically adjust them. My state is infamous for doing the conforming to federal late - like April or May, some years. So the Revenue dept, if it's something simple - like this would be - frequently tells us not to bother amending, they'll issue all the extra refunds after tax season.
  15. It's on the 1099-SA input, there's a field there to enter the amount.
  16. Ok, I went back and found someone I did last year in that situation. I did fill in monthly, but only for that column F. Hopefully that will do the trick for you.
  17. If I recall, when you're over the limit you don't have to go through all the monthly amounts, just the one entry for the APTC. But it is confusing!
  18. I'm so sorry, NECPA, I'll keep you and your family in my prayers.
  19. Bite your tongue! Lol, please don't make us go through another never-ending season. Even though Covid is worse, we've all learned ways of dealing with it, so hopefully there's no need for a longer season. I do suspect they will need to waive a lot of underpayment penalties, we'll see.
  20. I just did a search for mine and found C:\ProgramData\WoltersKluwer\Payroll 2019 Server\Payroll 2019 Backups
  21. It's my first year using the portal, not impressed so far but hopefully it's just the learning curve. Took forever to get all the organizers uploaded. Today I've got clients telling me that when they try to register, it says their "window has expired;" when I look, they show as Pending, not Expired. Anyone seen that before? I know ATX was having some issue with the portal today, not sure if it's part of that or not.
  22. I saw that, and was SO glad all my accounting clients opted out of deferring those!! What a nightmare this will be for companies who do in-house payroll. The big services will make out well though.
  23. Posting to the Reduction of Payroll account was the suggestion of a friend who does Corp Returns, which I don't, based on what she expects to need to need to report. Agree that we have no way of knowing what if anything the next Congress will do, but we might not know until February. I think I'll put this in place for both Corporate and Sole Prop clients, and then revise the books if needed after taxes are filed. The other helpful part of this is that then the main Payroll expense accounts will still match the W2s.
  24. I've been struggling with this also. I've told people that if the PPP isn't income, they can't take the deduction, and they seem to get that. A colleague suggested creating new accounts under Payroll, Rent, etc called PPP Reduction to credit out the expenses. If the forgiveness doesn't happen until 2021, not sure what to debit it against. I suppose we could do Expected Forgiveness of Loan or some such nonsense.
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