Jack from Ohio

You should consider Brother brand laser products. New Cart (rated at 8,000 pages, actual production 5,100+) $89.99. One bottle refill toner $10. 10 minutes to refill. Same 5,100 production. Savings by refilling 3 times = $240, way more than the cost of a new printer if needed. Cost per printed page $.006 each. Compare that to the cost of your copier!! Brother is the way to go. Fax machines have the same refill capabilities. $6 each.

We use Brother brand laser printers and refill the cartridges for 10% of the cost of new. Each cart will refill at least 2 sometimes 3 times before giving up entirely. Makes the costs of printing cheaper than the copy machine.

I have not done a 2009, but filed a 2010 on Tuesday, and it was acknowleged on Wednesday. So I know 2010 works. The return was an 1120S.

I know I read in the regulations somewhere, when I first had this situation, that if the student qualified as the parent's dependent, then he/she was NOT eligible for the American Opportunity Credit. I did not dream it, and I printed it out for the couple I was talking to at the time. Maybe the rules have changed. Still, back to reality.... Unless the student earns an awful lot of money, the tax benefit to the parents will be much higher. If the student has TAXABLE income of $15,000, then he could benefit fully from the credit. That would mean he would have to have AGI of $24,500 or more. How many full time students earn that kind of money?? Reality check.....

Who Can Claim the Credit Generally, you can claim the American opportunity credit if all three of the following requirements are met.<p class="itemizedlist"> You pay qualified education expenses of higher education. You pay the education expenses for an eligible student. The eligible student is either yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. <a name="en_US_2010_publink1000204326">Note. Qualified education expenses paid by a dependent for whom you claim an exemption, or by a third party for that dependent, are considered paid by you. Expenses paid by dependent. If you claim an exemption on your tax return for an eligible student who is your dependent, treat any expenses paid (or deemed paid) by your dependent as if you had paid them. Include these expenses when figuring the amount of your American opportunity credit. If the student paid the tuition himself, and his parents do NOT claim him, then he can take the American Opportunity Credit. However, unless the student is making a lot of money (not likely for a full time student) the tax benefit to the parents will be much larger. At age 23 and a full time student, he is still eligible to be claimed by his parents. The only exception to that is if he is married. I stand corrected!!

I have not received an error like that since tax year 2008. Make sure your program is updated. Use the manual method. There is something amiss in the program.

I smile and nod an awful lot!!

2010 1120S return e-filed yesterday was acknowleged today. 2010 e-filing does work. 2009 still in limbo.

I have a server with 10 workstations. Problem arises if you have more than 3 preparers. Then you need the multi-user license.

If you have a registered PTIN, you are now under the NEW Circular 230.

If his parents are eligible to claim him as dependent, which as a full time student they are, he is NOT eligible for any education credits. It appears that I missed some of the rules... see my post below...

The software will truncate the names for e-file. Just enter the name as shown on SS card, and proceed.

I just e-filed a 2010 1120S and the status now shows transmitted to EFC. We will see what happens tomorrow...

http://www.irs.gov/i...tml?portlet=106 Update: We are aware that some taxpayers who have filed electronically and received an acknowledgement from the IRS are concerned when they visit "Where's My Refund" and are told that we have no information regarding their return. This is a temporary situation, and we expect to resolve the matter in a few days. At that time, taxpayers will be able to get an expected refund date when they visit "Where's My Refund." If a taxpayer received an acknowledgment message that their e-filed tax return has been received, they can be assured that the IRS has the tax return even though "Where's My Refund" does not reflect that. Taxpayers should not call the IRS unless specifically directed by "Where's My Refund," as there is no new information to give them. We expect the vast majority of tax refunds to continue to be issued within the historical range of 10 to 21 days. The IRS is taking steps to update information so that Where's My Refund has current information. The IRS apologizes for any inconvenience and will provide updated information as soon as possible.

Make sure to do an update of the 2010 program. The last update changes the 1040Efile form to accept MEF filing.

There is the ability to attach .pdf files. However, the IRS will not accept an attachment with the information. All transactions must be entered into the tax return. If the day trader can provide you ALL the NEEDED INFO in an excel spreadsheet, you can import directly into the program. You must make sure the spreadsheet is configured correctly to get the right information in the correct place. Otherwise, get ready to hone your typing skills and charge a lot more....

Scary, but it may be reality!!!!!

Had mine since they started. Mine starts with a "P" as well. My boss at the firm had his before he passed his E.A. exam. His did not change. Just like the IRS, consistently inconsistent.

Not for non-residents. Ohio gives credit for tax paid to other states, but it is not a direct credit.

Is the box checked that says: "add to the payer manager" at the top of the W-2 input screen?

Agree. Always use the most current "ID" numbers for any transactions done after receiving it. Strange though, the IRS has stated than most PTIN will not change. Was yours a special situation?

You must also call the IRS and get "added to the list" to be able to e-file corporate returns. They tag your EFIN so it will allow, othewise it will get rejected when submitted. Getting an FEIN is smooth on the IRS website. You may not ever need it for anything else, but it will get you over this bump.

This year, MEF will allow e-filing of 2009, 2010 & 2011 returns, if the meet the requirements to be an MEF return. Haven't tried it yet, but we have about 3 clients with this in the queue to be done soon.

Looks like WI and IN are running from the same rule book. Out of state gamblers pay tax on gambling winnings in both states! Gives new meaning to "...keeping profits from the casinos in our state."

The amount of interest on the student loans that can be deducted, is NOT dependent upon what the loan was use to pay for. The limitations only apply to what can be claimed for qualified education expenses for education tax credits. For all education credits, tuition and fees are includable. For the American Opportunity Credit, supplies and items that are REQUIRED for certain classes, or college attendance can also be included. Example: Photography class requires a camera. Art classes require brushes, paints, etc.