Lee B

Did you use the worksheet or did you override?

Accenture the big global consulting firm( $ 44 Billion in revenue last year ) has been hit with a ransomware attack. Since they do consulting for 75 % of the Fortune 500, I'm sure there are some nervous executives out there. If they can get hacked then anyone can.

Really, 3 years of audited financial statements, I can't even imagine how expensive that's going to be

Any client who seemed unsure, I made them go back and check their bank statements.

How long has he been a dependent on her tax return? She will get it when she files her 2021 ta return.

Never underestimate the power of st*p*dity

Here is a copy of a letter from the AICPA to the IRS asking for clarification to which the IRS has yet to respond: https://www.aicpa.org/content/dam/aicpa/advocacy/tax/downloadabledocuments/56175896-aicpa-comments-erc-2-25-21.pdf

Tom, the websites referred to do the same thing that you have been doing. Just be aware that even the online information from the website for any single ISP may not even be accurate.

That would assume that the IRS had enough time to reprogram their computers for all of the various covid related credits, which of course kept changing?

I have a client that got ensnared in this exact mess, because she bought a condo in 2019, which was owned by a foreign national. The IRS came after her because the 15% had not been withheld the proceeds. By the time it came to my attention too many days had passed for me to do anything, especially since it's an area that I have zero experience with. i sent her to find a real estate attorney with expertise in this area, who was able to resolve the issue.

Lion, that's a really tangled web that you are working on

The last statistics I saw was that about 30 % of 941s were paper filed

Interesting, have you had indications that this website has been subject to brute force attacks? As far as logging in, yesterday and today have been normal.

"The IRS began sending out letters from the Automated Collection System function in June, and restarted the income tax levy program in July. In addition, responsible officers continue to work on nonfiler cases and are sending out notices and billing notices; however, their focus is primarily on egregious cases, such as high-income non-filers, according to Mankowski. “Unfortunately, there’s still a backlog of paper, and until that’s cleared there will be people that efiled and mailed in their check, the check cleared, but they get notices saying they never paid,” he said. “That’s the downside of restarting the program. They have to do it because otherwise people will get complacent when they think there’ll be no repercussion for not paying.” “The phone lines are still backlogged due to taxpayers not getting their refunds,” he explained. “They have to go through manual processing, mostly for returns that had additional stimulus funds. Because of time constraints, the IRS didn’t have time to fully reconfigure their computers to recalculate the additional credits due for the additional stimulus money. I tell my clients that if they don’t owe and have proof of payment, hold off on responding to the notices.”

"Forms 940X/941 inventory This year continues to be unique and present filing issues, Mankowski noted. “The IRS has hired over 3,200 employees to cover attrition and to increase staffing. As the IRS is attempting to reduce the backlog, Austin and Fresno have been tapped to help process Form 941. As of mid-July, approximately 1.8 million forms have not yet been processed. For returns prior to 2021, 11,000 are still in inventory. These figures are for Form 941 returns — they don’t include Form 940, or Form 941X amended returns" Wow, 1.8 Million unprocessed Form 941s. I have have been wondering about this, because I have several 941s that I should have received a letter or a refund check?

According to the U S Treasury we have hit the Federal Debt Limit again and started the shell game of shuffling numbers around

I usually carryforward unless there is a substantial amount of money available or it's doubtful there will future profits generated to be offset, especially since prior to 2018 the 1st $ 50,000 was taxed at the lower 15 % rate.

Can we get this fixed or is their something we need to do at our end ???

Are you talking about their 1st PPP Loan or their 2nd PPP Loan?

This partly a legal issue and partly a tax issue. I would want something definitive from the Attorney in writing.

Exactly the same thing I have been seeing for about a week now!

I am having trouble logging on again! Keep getting a message referring to a "server error"

My own experience just with my own office is that kind of information is not very reliable

?

When you say brother in law, whose brother are you referring to?