Gail in Virginia

The mother may be putting everything the daughter gets in some type of savings arrangement to take care of her when the mother is gone and no longer can take care of her child. And money put into savings does not count towards support. I agree that you need to be comfortable that mom is providing OVER 50% of the support but otherwise I don't think that the income is relevant in this particular case.

The gross income limit applies for qualifying relative - this dependent is qualifying as qualifying child because under age 18, or a full time student under 24, or permanently and totally disabled.

I think this is the post that Pacun remembered about amending from MFJ to MFS, and Lion seems to have posted the best cite.

Except that I think you have to take the income that the contribution earned before it was withdrawn, and that portion of the withdrawal will be taxable.

According to IRS website, the current penalty is: If you file your return more than 60 days after the due date or extended due date, the minimum penalty is the smaller of $135 or 100 percent of the unpaid tax. So it looks like the only change is to raise the flat dollar amount from $135 to $205. The alternative is still 100% of unpaid tax.

I don't tell them either but the talking heads on the TV news love to talk about the deadline for filing, and so even though my clients know nothing else about taxes (such as when their corporation's return was due) they know that date. They also all know that they are supposed to have their tax forms by the end of January, and if they get something late I think they want me to have the people that sent them the 1099 after Feb.1 arrested. Tempting, but I don't know how. And if find it hard to believe they "forgot' about receiving a few thousand dollars last year until they got the 1099 - especially the ones that are non-employee comp.

I have one client that has the broker set up a secure log-in for me to retrieve the documents AND a csv file. It actually works pretty well - the log in expires in 60 days or so, and I can only retrieve the information that is set up for me to retrieve. I get electronic copies, and I can import the csv file into the return instead of typing all of the entries for his sales (and he has a lot.) This method I like. Using their password and logging in as them - I won't do.

I may be misunderstanding you, but it sounds like you are stockpiling returns to file later. I thought that was against the rules - that once we had the signed 8879, we had something like 48 hours to file the return. Is that not the case?

Look at it this way: maybe they are both only able to work because they have some time at home alone to keep them sane!

I am a little slow apparently. I just realized that in addition to the three extra days at the end since we go to April 18, this is leap year so we really have a tax season that is 4 days longer than normal. Help!!!!

I agree with Lion. Even though in years past I have seen most banks accept the deposit even if the name doesn't match, that doesn't mean this won't be the year that they place stricter protocols in place to prevent fraud. I would rather get the check in the mail a week to ten days later than to go through the process of requesting the check after the ACH has failed.

I only have one property management company that I deal with, and they typically give my client a 1099 for the net rent paid through them. The client does not pay the management company; the management company collects the rent, deducts their fee and any expenses, and forwards the balance to the owner. They then give the owner a 1099 for the NET. I suppose, if any of the rent is paid by a business to the property management company, they get a 1099 for the gross from the person paying the rent. Since it is residential property, I doubt that they get any 1099s.

Actually, if EITHER has positive income, then they can both contribute - one to a "spousal" IRA, as long as the total contributed does not exceed the total earned, and, of course, the limits.

Just remember, if scholarships are used for living expenses such as room and board, they are probably going to be taxable as income. That doesn't mean you should not classify them that way; just be sure to look at all of the ramifications.

Same thing happened to me, Lion. But I usually use FIreFox, so no biggie.

But you might need to look at FBAR requirements to see if this triggers a filing requirement for her.

This is one of the times that clicking a "Like" button just doesn't seem right. I don't like it, and I am sure you don't either. I am so sorry for your loss.

I am just wondering if this is part of the reason hold times are so long when you actually call for yourself.............

I tend to match my referrals out to the reason i am referring. If it is someone that I wouldn't mind doing the return, but they want a RAL and I don't do those, I send them to a competent, professional office that sends me referrals for more complex issues they don't have time for. If it is someone who wants to push the ethical envelope, I know the local preparers that will help them push, and send them that way. They might as well go to jail together - I just don't want to be part of it.

My office is about 12 miles from the house. And we have Saturday office hours. And evenings. But not Sunday. Occasionally, I come in to work on Sunday afternoons to catch up. And yes, people will show up. But I have started parking at an apartment near here so that my car is not apparent when I am in the office catching up, and I don't turn any lights on if I can help it. That cuts down on the banging on the door business and they use the drop box because they don't think that I am here. I should be more like Rita instead of sneaking into my own office. *sigh*

I had not found that. THANKS!

Virginia requires W2s by Jan. 31, or if the company goes out of business or ceases to have employees, by 30 days after the last employee payment.

https://www.youtube.com/embed/6_-xTxP1hD4?autoplay=1 For those of you who don't click on links, you can see the video by going to YouTube, searching for "Pass the Salt" and watching the video by Matthew Abeler. Nice commentary on cell phones at the table.

Is he a W-2 employee or does he already have a schedule C? Is he deducting the cost of the computer anywhere as employee business expense? is this the first year he has done this, or the first year that the company has sent him a 1099? I must admit I have never seen it handled this way. Would the depreciation for the computer come anywhere close to wiping out the income from the 1099? Ordinarily, I would expect that if this payment were subject to social security, it would be included in his W2, and he would only be able to deduct the cost of the computer as an employee business expense on Schedule A, subject to the 2% haircut - provided he is an employee and not a contract hire. I am curious to see what others think of this.

I usually order a bunch by mail from the IRS for a few clients who need just one or two and can type or hand write them. In a pinch, I have torn the first page off the IRS packet and run it through my laser printer when I have run out of the forms that I order for me. So far, I have had pretty good luck with that, but your mileage may vary.