Lion EA

They can export both "company's" subcontractors' info to Excel and then add...

If they used classes in QB, then they could generate one report for things like subcontractors but still have run separate P&Ls for decision-making issues or whatever their need is.

Don't know how to keep formatting. If you want the original color flyer, including a picture of Catherine, send me your email so I can forward the Constant Contact announcement. September Super Session - 4 CEs Tax Topics that Everyone Should Hear about! Date: September 20, 2023 @ 3:30 pm - 8:30 pm Topics: · Entity Selection and Tax Consequences · Schedule C Refresher & Overview · Minefields & Disasters – How to Navigate & Mitigate · A Case Study Speaker: Catherine White, EA Education Committee Contact/Point Person: Bo Demczar - [email protected] Meeting Schedule: 2:45 – 3:45 Board Meeting & Committee Meetings & Committee Meetings 3:30 – Registration 4:00 – First Session 5:40 – Business Meeting 6:00 – Buffet Dinner 6:50 – Second Session 8:30 – Close Members (Timely): $95.00 Non-Members & Late Members: $125.00 Timely is by midnight the Friday before the meeting! All payments are cleared through PayPal but you do not have to have a PayPal account, just a credit card. Tickets on sale NOW Timely Deadline: 09/15/2023 REGISTER HERE: https://www.nyctatp.org/event/september-super-session/ SAVE THE DATES! Friday 20 October – October Seminar Kathy Morgan Residential Rental Real Estate - Basis Issues - Depreciation - Recapture - From Purchase through Sale Ethics - Due Diligence: It’s not just for EITC anymore __________________________________________________ Thursday 30 November & Friday 1 December – Annual Tax Update Seminar Ryan Reichert? Brass Tax Presentations Federal Tax Update Additional Federal Tax Topics - Crypto Currency & Advanced Brokerage Statements - Energy Credits - Packing a Powerful Punch - Tax Implication of Family Drama - Tax Stuff You Thought You Knew NY Tax Update CT Tax Update __________________________________________________ Wednesday 10 January 2024 Last Chance Tax Update Kathryn Keane

After very small increases for many years, this year I raised my fees 10%. I'm going to do that again for next tax season. Only a couple of arguments. I'm trying to lose clients, but didn't lose any over my fees. Maybe I need to increase 15%!!! 10% over prior year for SAME return; new forms or issues receive new prices.

This is from the FAQs at IRS.com, so you'll want to dig deeper to an authoritative source: https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-seps#contributions When must I deposit the contributions into the SEP-IRAs? You must deposit contributions for a year by the due date (including extensions) for filing your federal income tax return for the year. If you obtain an extension for filing your tax return, you have until the end of that extension period to deposit the contribution, regardless of when you actually file the return.

Or, amend her return as MFJ including her husband's tax data now.

You might be thinking of the tie-breaker rules, but they don't come into play unless the parents cannot agree.

In my software (ProSystem fx) most entries are made in the Federal return and flow to the appropriate state. If I need to override or enter an IN amount, my software provides Indiana Sch IN K-1 screens including an e-file only screen for Form IN-MSID-A which provides fields to enter State income tax withheld and its details (Issuer, State income, etc.) Contact your software tech support or tell us what software you're using.

There's the U of Illinois Tax School.

How about CT? The NY/CT-ATP has a 1-day October Seminar that includes 2 CEs of Ethics and 6 CEs of Federal Tax Law topics (8 CEs). And, a 2-day Annual Tax Update Seminar that's 7 CEs of Federal Tax Law topics and 7 CEs of Federal Tax Update topics (14 CEs). We negotiate a room rate at the venue, the Ethan Allen Hotel in Danbury, CT; however, there are other motels nearby, such as a Holiday Inn Express. Seminar prices won't be announced until after Friday 4 August. You can get the latest information here: https://www.nyctatp.org/events/

No will. No spouse or children. All to parent, ultimately. So, IRS will send refund to estate? Then administrator can pay bills (car/boat tax due this month, for instance, and my prep fees) and distribute remainder to mother when estate closes? State pension (teacher) had mother as beneficiary, so that's happening outside of estate from date of death forward. Administrator opened an estate checking account on advice of lawyer. I asked about EIN in my list of questions to admin. She's in FL and having internet issues due to weather/flooding, but I got an email through to her yesterday on an alternate email address. Do I use the EIN anyplace on the 1040? (I'm prepping 2020 and 2019 now.) Death was 2023. I have the admin address/phone/email on returns, but was worried that would confuse CT and the IRS mailing address. I am using c/o and making it fit the fields. Thank you, thank you for leading me through this. I'm saving all your notes for the future, a great how-to text.

https://www.irs.gov/newsroom/time-is-running-out-taxpayers-missing-1-point-5-billion-in-refunds-for-2019-must-file-by-july-17 https://www.irs.gov/newsroom/time-running-out-to-claim-1-point-5-billion-in-refunds-for-tax-year-2019-taxpayers-face-july-17-deadline

One more: do I use the administrator's FL address for everything, or are there places where I should use the decedent's CT address -- so, returns are paper-filed to the correct address, for instance. Form 56 is to be mailed to the address where the decedent would file tax forms, for instance, so is that the address that a FL resident would file at or the address a CT resident would file at?

All of you are very helpful. Can't remember when I had a client die (without the lawyer insisting that everything was done via his office). SIL has two emails: one has been bouncing back since the weekend, and the other says its still trying to deliver for 72 hours! She was in such a rush. Now to call her...

And, Judy, who deleted pages of new "members." Thanks to both Judy & Eric.

There's a court-appointed administrator, the sister-in-law and brother (SIL is doing it all for her hubby, but they both appear on the court paper). They did go to probate. I'm waiting on them to answer if there was a will; client was only 50 or in early 50's when she died suddenly of a heart attack. With SIL in FL and me in CT, I'm going to upload returns for her to sign and mail in. I thought Form 1310 would require paper filing, plus 2020 with possible ID theft. Leaving everything except actual tax prep to the SIL. Don't even want to try e-filing with the SSA freezing SSNs so often and the suspicion that a 2020 return was filed/ID theft. If the refunds go to the estate, do we need to file Form 1310? Will the IRS mail the check to The Estate of Joan X. Doe in care of the SIL administrator? I think it's only the mother and brother, and brother and SIL want to give all proceeds to mother. Thank you for confirming that a copy of the court appointment should be attached. What about a copy of the death certificate? Every single client has something new this year!

Taxpayer died this January. She has some back years to file. I'm preparing 2020 1st, because there's an IRS letter stating a balance due but taxpayer hasn't filed since about 2016. Taxpayer had been in contact with IRS, per her mother; but that's all we know. Then, I'll prepare 2019, with the 17 July deadline. Administrator is SIL in FL. Family prefers refunds go to mother (deceased cared for mother, paid some of mother's bills, and lived with mother the last few years in CT). Form 1310: can I choose for refund to go to mother? I'll be uploading all years to SIL in FL to sign and mail and not trying to e-file any. (2020 will probably reject anyway due to ID theft.) Or, without choosing mother, will refund go to Administrator or to The Estate of Joan X Doe? Do you suggest registered mail? Certified? Return receipt? Anything else I need to know to deal with SIL in FL when I'm up here in CT? I am NOT going to deal with IRS re ID theft when I don't know anything about what happened in 2020. SIL can deal with that for the cheap price I quoted her. Client was a long-term client, but would file every couple years or three. Then stopped filing after 2016; would call me to file an extension each year, but didn't get back to me with her tax info. Teacher with good w/h and federal refunds, so IRS wasn't chasing her. (CT owed a little or refunded a little, but no letters from CT in her documents.) All suggestions and comments welcome. Thank you for reading!

110 accounts with email addresses! I was watching the posting in real time, certainly not from tax preparers, so it was surreal watching posts show up with lots of detail supposedly about customer service numbers for various well-known companies that might fool people on a more general site. Luckily, not things tax preparers would click on, on a tax site. But certainly clogging up our site overnight. Thank you for cleaning all that up, Eric.

Thank you for taking good care of us, Eric! I was up late last night and saw the posts coming in. It was not all at once, automatically. There were a couple of screen names posting with about the speed of someone cut/pasting manually. It was kinda odd. I'd leave after a bunch/page-full and then return to another few, or I'd report some to see more came in while I was reporting, rinse & repeat. That kind of speed. I apologize for inundating you with so many reports. In my sleep-deprived state it seemed like a good idea to report a bunch so you'd see the extent of the problem before you had to enter the message board or without looking farther.

Monday 17 July 2023 for unextended 2019 returns. Is it Monday 16 October for extended?

I have my software set to check that automatically. I've been able to use it a couple times, saving getting a 2848 signed and filed. But, it is only good for a year.

I too remember Block's POM paying clients with the philosophy taught to us to explain to clients that when HRB pays an obligation of a client that HRB issues Form 1099-MISC. I wasn't involved in the 1099 issuance, so don't remember if the 1099 included ALL payments by HRB to include tax, interest, and penalty.

And, thanx for the helpful info re MA NR/PR.

Thank you, all. Going to start calling Tuesday on this situation. Have paperwork ready. The 2022 penalty is only $70, but the 2021 is 4 figures so will get FTA probably. Otherwise, this client is clean, just got behind a year when she was very sick and ultimately diagnosed with colon cancer. A similar but more complicated client (died suddenly in January, court-appointed rep in FL, hadn't filed in 6 years, might be ID theft in 2020, need to get 2019 filed since she always had refunds, etc.) is the other one I'm working on. IRS saying a balance due plus P&I for 2020, but don't think she filed 2020, so that's why ID theft suspected. Gotta get the ducks in a row on this one.

Client didn't have her new broker contact, thought it'd been on her online screen and that there'd been a Tax Documents tab, but neither were still there when she began gathering her tax info. She did have the cell for her old First Republic broker who's now elsewhere. He gave me the name of the FR manager, and he got the new rep for my client to send me the FR documents. Client's still at her infusion site from this morning even though she thought she'd be home this afternoon. I could try a bringing in a 3rd phone, but haven't done that before so will need to practice. And, need to wait until she's home or a more private location. We go to PA next week for granddaughter's 4th birthday party. Client will pay via paper checks only. I tried again with current circumstances to get her to use direct debit or IRS's online DirectPay. She'll need to move funds around before mailing checks, but I want to get the returns e-filed to stop the P&I on filing from growing. I have a POA ready for her signature along with the 8879s and other documents. Should I put anything other than "Income" for Matter; I've seen suggestions to add a line for Civil Penalty. If I do that, do I say 1040 on the same line as Civil Penalty (as well as on the line for Income)? Anything else I should know about the POA?