Lynn EA USTCP in Louisiana

AFAIK the main topic was extending application for the PPP program to 8/8/2020

UI benefits for corporate owners is state specific. I a pretty sure that here in Louisiana corporate owners (c or s), while required to pay into the system based on their earnings are ineligible to collect UI benefits should the company close its doors. The basis for that is the corporate owner has decision making powers to determine when/if the entity closes.

W2 is always proper for a minister employed under contract with a church. It should reflect housing allowance in box 14, zero social security, zero Medicare, and box 1 earnings in excess of the housing allowance. I have seen W2’s with only the box 14 h.a. Entry. There are examples in Hammar’s or Worth’s clergy resources.

Only those returns which had a 4/15 due date were given a revised due date of 7/15 and the ability to file an extension between 4/15 and 7/15. 1120S and 1065 were due 3/15 and were not afforded this relief; extensions for 1120S and 1065 should have been filed by 3/15.

NAEA posted earlier today that IRS will be ready for 2019 1040X 8/17/2020 . How long it takes the software to make it available to their subscribers is another question altogether.

AFAIK mid July or thereabouts

Call IRS e-file Payment Services 24/7 at 1-888-353-4537 to inquire about or cancel your payment, but please wait 7 to 10 days after your return was accepted before calling. Cancellation requests must be received no later than 11:59 p.m. ET two business days prior to the scheduled payment date. Posted on IRS website Mar 30, 2020

I contact the client and ask them to confer with the broker to provide the information. The information is there, and someone (but not me) has to track it down.

I have two that contact me about this same issue, both were efiled first week of May.

https://www.sba.gov/sites/default/files/2020-05/3245-0407 SBA Form 3508 PPP Forgiveness Application.pdf Posted by SBA 5/15, though SBA officials on a webinar a week ago said it would probably be revised and to not use it until revisions are promulgated. Banks may prefer to use their own internally produced form.

Yesterday WK sent a second email stating the first was an error and to ignore it. I had already gone into my ATX account and paid the &5 due for a prior year return efiled recently.

Margaret, I will pay the $5; just was venting my frustration that they waited 2-1/2 years to bring it to my attention. Credit charge failures occur for me at least once a year (if not more often) due to generally an annual problem with someone trying to hack my credit card account. It is a chore to change the automatic debit arrangements when that happens. Thanks for your reply.

Checking email this morning and find one from WK detailing a payment failure of $5 for an invoice generated 9/2017. I am tempted to ignore it.

Or the calls about their tax returns, mailed priority, and aren't in their mail box on the expected date. As if I can do anything about how or what the postal service handles the mail. Ugh !!!

Like Gail, I too do not remember the first tax program we used. It was written by 2 men from the northshore (northshore of Lake Pontchartrain, New Orleans area), and was DOS based. When they closed shop they suggested we use Crosslink for personal and Drake (I think) for businesses. I loved Crosslink but we didn't do bank products so the fees and efiling fees were eating us up. Drake, meh. We used Zillions Forms for sales taxes. When I made the decision after Hurricane Katrina to d/c Crosslink we switched to ATX Total Tax Office or Max, whatever allowed us access to all forms (personal, entities, payroll, sales taxes). I've been with ATX ever since and have no plans to switch. I tried UltraTax during the 2012 debacle - too expensive and did not have the heart in me to learn another program.

The 1041 is an “income” tax return. The $80,000 settlement is not reported on the 1041. But any interest, dividends, capital gains earned by the settlement funds are reflected on the 1041.

Yes, available for taxes on raw land only.

My email address is @bellosuth.net, when bellsouth was the precursor to att. August last year I left att for internet and landline, moving to cox. I have kept my @bellsouth.net email address without any issues. I use outlook on my office desktop and am able to get mail on my iPhone and iPad, all without any problems .

They are still eligible for the stimulus payment, if they meet the other AGI based criteria. Their payment will either come as a paper/mailed check. Or if they go to the get my payment section of the IRS website they could input banking details for direct deposit.

Last I heard use #A or #1 or whatever but use # instead of apt

The 990 was extended. There's a notice for that and I don't remember the notice number. First notice mentioned only 990-T and a subsequent one specifically included the 990

I would file the extension now.

Read this ATG - https://www.irs.gov/pub/irs-utl/irc183activitiesnotengagedinforprofit.pdf ,. show client the requirements to overcome the not for profit, I,e. Hobby, designation.

Hobby. What does he plan to sell ?

You may override The dates on the ‘record’ to what they should be. Then the right dates are on the vouchers and the client letter.