Pacun

net stop spooler from CMD as admin. net start spooler to put it back in action.

Just paper file.

I got it a couple of times today. I have 16Gigs of ram and Solid State hard drive. It must be that the computer is running out of resources because it happens after I have opened and closed a couple of years and several 1040 returns.

Be careful what you wish for. So, you want the IRS to say... filing season starts on January 23rd and ends October 15? That will be lovely because I make a lot of money in October right before Christmas. BUT wait, that means I will not have enough money to pay my April and May rent because all my clients will wait until October to file.

On another post, I have argued that almost everybody has been affected by Covid. I put an example of my case. I got a call that someone needed me to prepare a W7 for which I charge $60. DC government had closed all businesses that were non-essential and tax preparers are not considered essential in DC. So I couldn't make those $60 because the client went to MD where tax preparers are essential workers. According to what I read, I could take out $100K from my 401k plan and pay no penalties. I could also put back 1/3 before filing my timely 2020 1040 return and pay no income taxes... provided I elected to pay taxes on the next three years. Let's say that I didn't have that event, my wife collected unemployment because her hours were reduced for a month. I also had a household member who didn't work because her restaurant was closed for three months. Any of these three situations alone would qualify me to take out $100K from my 401k and pay 0 penalty.

Was the daughter filing her own return or was she a dependent? I have never split it with a dependent... you only have to add their income to see if the parents and dependents pass the 400% limitation or how much they must send back or get a refund. I have about 4 returns that two of the dependents making about 900 each and they file to get a refund of the withholding and I have NEVER received any letters for the dependents.

The moment the poster says that the refund was held by the IRS last year, it means that the daughter is not a dependent. You don't allocate anything to your dependents and "I allocated everything..." sounds like you didn't give them a chance to come into agreement how they wanted to share it.

It is in fact sad news. I don't see the snow ball rolling.

Ask them and split it 50/50 and use half of the amounts on the parents and the other half on the daughter's return.

He cannot be claimed or used by the mother. He needs to file his return and get both stimulus refunds.

What do we tell our clients????? I tell them, even if the IRS will extend, I will close my office after April 15 and go to Bahamas. That's what I am telling them now and that's what I will tell them in March and that's what I will tell them up to April 7. But if the same person calls me on April 10th, I will tell him/her that the government extended the time to file and that my office will be happy to have their business and my office will stay open The IRS is doing the same thing because if they announce the extension now, people will relax too much.

From a simple math... yes you are over the limit. If your file is 504KB and "ATX allows attachments up to 246K", you have passed the limit. Since you don't have a letter after 246K, your only choices are b or B. Since your file is 504KB, it will be bigger because b is less than B. If you know what I mean.

How much did the son make?

Rita, I am on the same situations: After giving my clients the three options at hand, and giving them the dollar figures for each choice, I have three clients that have decided to pay all taxes in 2020 but I guess I will not able to send their taxes this week. This are the three choices: Report the whole distribution in 2020 and be done. Report 1/3 of the distribution and report 1/3 in 2021, and the other 1/3 in 2022 tax year. Elect to report 1/3 and send 1/3 of the money back to the 401k plan before timely filing 2020 including extensions and report nothing in 2020. MUST we wait for form 8915F to avoid that early withdraw penalty?

Katri... Why are you trying to use 2019 income if your client will benefit the MOST if you use 2020 income?

You have to answer the question to show that the scholarship was less and that your client was not convicted of drugs.... all answer other questions.

Make another $4K taxable and the student will qualify for AOC.

I didn't get any letter either. I have not seen one yet on the second stimulus.

Answer to question: Use code 2.

As you know 401k admins are issuing 1099R with code 1 if under 59.5 years old. The Taxpayer self certifies that the distribution was because he was affected by covid 19. What code are you using so that the penalty is not added?

As a rule of thumb, if your client had EI of more than $25K for 2020, don't bother to check 2019.

I was able to log on. The first think I saw was amount owed a couple of clicks away and I got the amount of income used for the stimulus and half was on my account. The other half will be on my wife's account. If we decide to file separate, each use the amount reported.

So up to April 15, 2021, I still can efile 2018, correct?

I heard that the IRS was going to have a site where people would check how much they got on stimulus advanced refunds. Is that site real or "not such an animal"?

Question has been answered but the other twist is if a child was born on December 31, 2020, that child will get $500 and $600 stimulus on 2020 1040. Of course that applies to any child under 17 that was not on your return for 2019 regardless if someone else claimed them. I have a client who didn't work in 2019 and had three children. Her mother claimed her and the three children on her return. Grand mother got $1500 and $1800 in stimulus checks for the children. In 2020 mother was no longer a dependent and made $24K. She got $2700 for the first stimulus, $2400 for the second stimulus, plus $4,200 additional child tax credit and a few thousands for EIC, plus a couple of thousand that were withheld. Nice check coming to her.