Gail in Virginia

I am not sure of a site, but I believe that you are correct. The 529 pans - Virginia 529 prePAID, Virginia 529 inVEST, College America, CollegeWealth - are the only ones that are deductible to the state.

According to the instructions for Form 1041, funeral expenses are only deductible on form 706 - not on form 1041. This is also what I have always been taught. When I did a Google search, however, there were several articles stating that funeral expenses could be deducted on the 1041. I don't think that is correct, but now I will have to do some more research to be sure.

I think I would treat this as a commission paid. And it might depend on how long the lease is as to whether I would amortize it.

Obviously that is more likely to work. On the other hand, I did not do anything to request this check, I filed a 2018 return notifying the IRS of my mother's death, they were also notified by SSA, and yet they sent this anyway and now I have to take the time to address an envelope, pay for an envelope and stamp, to send them back the check I did not want in the first place? Gotta love the guvmint.

I tried sending it back using the instructions on the envelope to mark the box and drop it in a mailbox. I got it back again today.

Of course they print it - what did you think happened to all the toilet paper? They have to print it on something....

I got the one for my mother, made it out to her name, dec'd. I checked the box and threw it in the mail at the post office. They obviously knew she was deceased - it said so right after her name!. Her estate has been closed over a year, since she passed away in 2018 and we settled everything within 12 months. The check will not clear unless someone at the IRS or USPS steals it and negotiates it; I don't want to keep up with another piece of paper indefinitely. If it actually had my name on it, like the one Tom mentioned, I would probably feel differently. But I find it a little disconcerting that this many people are getting checks for those that are deceased. We are a relatively small group, and at least 4 of us have seen this already? I guess that is what happens when you can just print money instead of having to earn it.

I think that like most tools, it depends on what you are going to use it do as to what you should buy. If I were in a business where I was primarily editing video, I might buy a MAC because I hear they are great for that. For accounting and spreadsheets, I will stick to PC for now. I do like my iPhone and my iPad, but my computers are all windows.

My first summer job was working as in "intern" at a summer enrichment program run by the United Methodist church locally. I got to do a lot of different things, and saw a whole different side of life than I had seen before. I even got to help dig an outhouse! My mother arranged this job for me but I can no longer ask if she did it because she thought it would be a good attitude adjuster for me. I know it was a good experience, and not because I learned to use a shovel.

I saw that notice 2020-23 extended the 990-T, but I must have missed the one that specifically mentioned the 990. And being paranoid, I would file the extension just in case. So thanks for the info Lynn!

Sometimes I fail to listen to those thought bubbles and these stupid calls take up way more of my day than they should.

He might want to go to the IRS site for the stimulus payment and change the infomration there so that the stimulus check doesn't also get returned to the IRS. If he is expecting a check.

I am not sure the extended due date applies to 990 returns.

Kinky!

My software has a space for dependent IP Pins, so I assume they are available.

If you live in a state where Identity protection pins are available, and the IRS ever opens back up, perhaps in future you can get IP Pins assigned to the children so that non-custodial persons can't claim the child? I think that would be easier than changing social security numbers.

Can the payment of the lien be handled through the attorney or mortgage company handling the closing? In other words, show the lien on the settlement, give them the paperwork received from the IRS and the funds to cover the lien and have them pay the lien from their escrow account so that they know that it was done? Will this satisfy them so the closing can proceed?

I would be inclined to agree that it is non-residential property because of the transient nature of the tenants. None of the tenants will be using it as a residence. It is closer to a hotel than an apartment building. That said, I have no idea why ATX doesn't want to let you use it as 39 year property.

I thought they were directly helping the people laid off by adding $600 a week to their unemployment from the federal government. What I don't understand, if everyone either has a job or can get unemployment (or is business as usual getting their retirement, government assistance, whatever) why are they not able to pay their rent? Or afford food? I understand some increase in need from small businesses who have no income coming in and are having difficulty proving their self-employment to draw unemployment since that has also been expanded to include them, but is it really that many people? Are they all working in the underground economy so that they can't show any earnings? Maybe someone should make a list and investigate them for back taxes after this is over.

In this case, though, the misinformation is at least partly the treasury department's fault. They at first said that people who don't normally have to file would have to file a simplified return to get their information in the system. Then they changed it to they would use SS/RR information to send the payments. So I understand the confusion people are experiencing.

I don't know that it will do you any good to hurry up and file. I had the same scenario of balance due in 2018, so I filed my 2019 return 4/8 to try to get bank info in before stimulus check. But I am getting the same message you are getting if I check on my stimulus payment to make sure bank info went in. I am thinking maybe I will get my check in October?

I don't have a good answer. Virginia complied with federal tax law as of December 31 except for items they did not comply with. Making IRA deposits after April 15 was not federal tax law as of December 31. So they don't have to comply with it. But will the General Assembly actually address this? Who knows. Technically, VA returns are still due May 1, with an automatic extension of time to file until November1. The governor has stated penalties will not be charged for the month of May to give people until June 1 to pay, but he did not have the power to waive interest due for May. The assembly may address that when they meet for the veto session later this month. They may not. If asked before April 15, I would have advised making the IRA payment on time to be safe. If asked now, they have until July 15 for federal, and can take their chance with Virginia because I don't know which way this is going to go. If the assembly does nothing, it may be ignored by taxation and just use the July 15 date. Ain't life in the pandemic fun?

Personally, i paid taxes in 2018 and used my own account to pay them rather than our joint account. This year, I only filed last week and changed to bank information to our joint account since we were due a refund. I wanted to check which account, if any, the IRS was using. I can't even get as far as the refund amount because they can't verify I am eligible. I don't have anywhere close to $150,000 income on either return. I also tried for a taxpayer who had 0 tax due or refund because he was a farmer with a whopping big NOL last year. Apparently negative incomes are not allowed, and I can't check or change his either. Not a perfect site, but all we have for now.

Does Rita have to wait until social distancing is over to hug people now? And is social distancing an actual word?

I like the advisors that tell the client to put the money in traditional IRA and then convert it to Roth, no taxes and back door Roth contribution they otherwise would not qualify for. Wonderful plan, except they have $150,000 balance in their traditional IRA and have to include the biggest portion of the contribution they take out as income. And I get to try to explain that.