Lee B

"The gift itself is only included in the total estate value, to the extent the gift is more than $15,000. Therefore, if a gift is made within 3 years of death, and the gift is worth $25,000, only $10,000 of the gift – the amount above the sum excluded from tax – is included in the gross estate. The gross estate, as discussed above, will also increase by the amount of the gift tax paid on the gift."

Exactly, where did the proceeds from the sale of the stock go?

This applies to both deferred employee and employer deferred social security: "Employers can make the deferral payments through the Electronic Federal Tax Payment System (EFTPS) or by credit card or debit card, money order or with a check. These payments must be separate from other tax payments to ensure they are applied to the deferred payroll tax balance. IRS systems won't recognize the payment if it is with other tax payments or sent as a deposit. EFTPS will soon have a new option to select deferral payment. The employer selects deferral payment and then changes the date to the applicable tax period for the payment. Employers can visit EFTPS.gov, or call 800-555-4477 or 800-733-4829 for details. If the employee no longer works for the organization, the employer is responsible for repayment of the entire deferred amount. The employer must collect the employee's portion using their own recovery methods."

Bingo

Why would you lower the % ?

One way of doing it is as a commission based employee is 30 % of the tax return billing fee.

This week I am having trouble logging in. My success rate is about 50 %. Instead of the normal website log in page, I keep getting a basic text like page, which i have seen before over the years ?

You have Schedule M - 1 adjustment

This may be a red flag since appraisers are subject to Circular 230!

Do you need a certified appraisal or just a fairly good idea of what things are worth?

Truly astounding

Yeah, my bank is paying 00.01 %

Perhaps you should let her know about how to "opt out."

Very interesting, since several commentators specifically refer to the City of Chicago of having a history doing this exact thing. Well, they won't issue a corrected W 2, so you will have to be creative

Weird, did he receive one W 2 with this information or did he receive an additional W 2 with this information? Was social security and medicare withheld? An quick online search didn't find this memoramdum. Other online commentators say that a corrected W 2 needs to be issued and that the employer is just being lazy.

Are you asking about Workers Compensation wage benefits, short term disability benefits or something else?

You may have noticed that their basic CP notices now have QR codes on them. They will be pushing CP Notice recipients to download an IRS App and use AI Bots to handle standard notices without human intervention. It may fail, but it's clear to me that the IRS is totally committed to this direction.

I have several clients whose cell phone is an addtnl line on a relative or a friends account, in which case setting up secure access will fail, since the name and the address on the cell phone account will not match.

"Taxpayers should file an amended return if they: 1. did not submit a Schedule 8812 with the original return to claim the Additional Child Tax Credit and are now eligible for the credit after the unemployment compensation exclusion; 2. did not submit a Schedule EIC with the original return to claim the Earned Income Tax Credit (with qualifying dependents) and are now eligible for the credit after the unemployment compensation exclusion; 3. are now eligible for any other credits and/or deductions not mentioned below. Make sure to include any required forms or schedules. Taxpayers do not need to file an amended return if they: 1. already filed a tax return and did not claim the unemployment exclusion; the IRS will determine the correct taxable amount of unemployment compensation and tax; 2. have an adjustment, because of the exclusion, that will result in an increase in any non-refundable or refundable credits reported on the original return; 3. did not claim the following credits on their tax return but are now eligible when the unemployment exclusion is applied: Recovery Rebate Credit, Earned Income Credit with no qualifying dependents or the Advance Premium Tax Credit. The IRS will calculate the credit and include it in any overpayment; 4. filed a married filing joint return, live in a community property state, and entered a smaller exclusion amount than entitled on Schedule 1, line 8."

I took their pre rollout webinar about a month a go. This will be a gradual rollout with incremental improvements. In the beginning it will only apply to individuals and Form 1040. First, your clients will have to set up a "Secure Access" account, so this may not work too well with your clients who are not computer savy.

"Intuit has decided to leave the Free File Alliance after coming under criticism for making it difficult to access a truly free version of TurboTax."

Multitasking means doing many things poorly

Given the absence of current information, if I were in your shoes, I either would suspend the loss or put these returns on the back burner. It sounds like you are trying to do more than your share of heavy lifting on this group of returns!

A Lockup Period is an Investment Marketing Device which is not required by the SEC and has no tax implications.

"Continuing an effort to battle tax-related identity theft, the IRS, state tax agencies and the tax industry announced today that the annual campaign to raise awareness among tax professionals about data security will begin next week. The 2021 campaign begins as the number of data thefts reported by tax professionals to the IRS continued to climb. Through June 30, 2021, there have been 222 data theft reports this year from tax professionals to the IRS, outpacing the rate of 211 in 2020 and 124 in 2019. Each report can impact hundreds of taxpayers and threaten the tax professional's business."