Lee B

You should be able to enter it from a 1099 worksheet using the bank's EIN.

Is this an actual client or a hypothetical scenario?

According to CCH Answer Connect: "The passive activity loss rules generally limit the ability of taxpayers to shelter salaries, wages and interest income with deductions and credits from passive activities, that is, trade or business activities in which the taxpayer does not materially participate. Under the passive loss provisions, taxpayers can generally only deduct a loss from a passive activity to the extent of income generated by the taxpayer's other passive activities. The passive activity loss cannot be deducted against salary, self-employment earnings or investment income from dividends or interest. Any disallowed passive activity losses are carried forward indefinitely (suspended) and deducted from passive activity income in future years until the taxpayer either has offsetting passive income or disposes of his or her interest in the passive activity (or substantially all of the activity) in a taxable transaction. Similarly, credits from passive activities that exceed the tax liability allocable to passive activities for the tax year must be suspended and utilized to offset tax liability from passive activities in future tax years."

Actually id.me is only used by the IRS, SSA, VA & the Patent Office. Most federal agencies use Login.gov

Adjusted Gross Income or Artificial Generated Intelligence Aren't acronyms wonderful?

At a minimum your questions deserve a 4 Hour CPE class

"Blame Colorado. Beginning in 2022, the state began imposing a retail delivery fee on retail sales of tangible personal property delivered by motor vehicle to a location in the state. In order to apply, the sale had to include at least one item of tangible personal property subject to sales or use tax. The retailer is required to collect the retail delivery fee from the purchaser and remit the fee to the Colorado Department of Revenue. " "Significantly, Minnesota and New York are now proposing their own retail delivery fees, similar to the Colorado statute. In fact, Minnesota is looking at raising its proposed retail delivery fee from 40 to 75 cents. " "Not surprisingly, the Colorado fee has drawn criticism from the business community, according to Scott Peterson, vice president of U.S. tax policy and government relations for Avalara. The fee has to be reported on a separate return, so every retailer has to file two tax returns monthly — one for sales tax, and another return just for the delivery fee — that's a big step backward in simplification." Since most states are predicting declines in state tax revenue, I expect these delivery fees (Tax ) will spread to more states.

Last year Drake's price was $1,825 with a $300 discount for renewing by May 31st. Next year's price will be $2,095 with a $325 discount for renewing by May 31st which is a net increase of $245. I will continue to use the PPR option which doesn't have a discount.

"Oregon taxpayers couldn’t make online payments as the state’s tax deadline approached Tuesday night because of an internet outage affecting state websites. In response, the Oregon Department of Revenue says it won’t charge late penalties or interest on payments made before midnight on April 21 – a three-day extension. The deadline for filing state and federal taxes was at midnight on April 18. Oregon’s revenue department says state government websites were offline from 9 p.m. until midnight “due to a vendor internet service outage.”

I used Parson Tax Edge as my second tax program before ATX. Don't remember the name of the first program, it was from Florida.

Notice that there isn't a single European, Japanese or Korean brand on this list. The 10 vehicles eligible for the full $7,500 credit are: Tesla Model 3 Performance model Tesla Model Y Ford F-150 Lightning Chrysler Pacifica (plug-in hybrid) Lincoln Aviator Grand Touring (plug-in hybrid) Chevrolet Bolt Chevrolet Bolt EUV Cadillac Lyriq Chevrolet Silverado Chevy Equinox The seven models that could get a $3,750 credit include: Jeep Wrangler (plug-in hybrid) Jeep Grand Cherokee (plug-in hybrid) Ford Mustang Mach-E Ford Escape (plug-in hybrid) Ford E-Transit Lincoln Corsair Grand Touring standard range rear-wheel-drive version of Tesla’s Model 3

If it's not on a permanent foundation then I would use a 7 year life. That is what I use for Concession Stands and Food Kiosks. and they cost way more than $10,000.

See instructions for Section B Form 4684.

Most Law Schools only require 1 semester of tax law in order to graduate.

I wonder if anyone has ever run in trouble by filing a zero estimate when there was tax due. I don't have any clients now, but I certainly used to have clients where I filed a zero estimate.

I can't even imagine how that could have happened?

The 90 days I was referring to was with gmail. A quick search online gives you detailed instructions about how to retrieve deleted emails.

Yeah, I remember years ago filing extensions with a zero balance due, never caused a problem. Thanks BrewOne, I had forgotten about the Direct Pay extension option .

Several Postal Employees in the Portland area have been robbed recently just to get USPS keys.

"The Postal Service explained in a press release that their blue bins have become hot spots for criminals looking to steal residents' identities as well as their mailed checks. The crimes tend to happen at specific times and on specific days. The agency stated, "The biggest variable enticing these criminals to steal are customers depositing mail into blue collection boxes after the last collection of the day or during Sundays and federal holidays." So what should customers do? The USPS advises, "If customers simply used retail service or inside wall drop slots to send their U.S. Mail, instead of depositing it to sit outside overnight or through the weekend, blue collection boxes would not be as enticing after business hours to mail thieves for identity theft and check-washing schemes." My largest client had 8 or 9 checks stolen from a Blue Dropbox during the middle of the afternoon of a weekday about 2 months ago. The USPS has removed the box even though it's in front of a small retail complex by a very busy highway. Two of the checks were washed, but fortunately their bank caught them when the perps tried to cash them.

It turns out there are 23 different holidays today: My favorites are, Husband Appreciation Day, National Laundry Day and National Rubber Eraser Day! Who knew?

Wouldn't the beneficiaries share after the taxes and other debts get paid anyway.

I prefer the Direct Pay option, because if the efile is rejected the Direct Debit will be late.

Bingo

I just checked my deleted email, goes back 90 days.