Tax Prep by Deb

Thanks Tom, I just had a client get more money and I thought it was a mistake, but your explanation explains the whole thing. Thanks!

My client went ahead and paid what was owed, then about two weeks latter she received a check for exactly what we were expecting as well as for what she had paid. I was able to reconcile it to the penny!

I also have a client in the same situation. For now all I could tell her was to go ahead and pay the small amount owed and hope IRS takes the payment into consideration when refunding. My fear is it will take them way to long to straighten this out that she will keep getting letters and finally IRS helps themselves to her money. All I can say is what a mess!

As to not getting the second payment, many were sent debit cards and mistook them for junk mail and discarded them. It's possible this is the case with your clients, so perhaps starting a trace is the way to go. Just a thought.

But the modified AGI for ACA reconciliation is causing a reject as of last night. Hopefully this gets corrected soon!

But I ran into a problem with the modified AGI for the ACA reconcilliation. A return rejected because of a mismatch. Hopefully this gets fixed soon!

California seems corrected as of this afternoon.

Drake has now corrected the problem with California and it is flowing correctly now.

Yes Drake has updated their software but only for the Federal. I have an issue where here in California Unemployment is not taxed therefore an adjustment is made, now with the adjusted federal AGI it's as if though California is being adjusted again for the 10,200. As was stated earlier you are going to have to watch your state returns very carefully.

Thanks for the headsup. California doesn't tax any unemployment but I will double check to make sure it doesn't adjust it out again.

Drake

All of mine have gone thru. It's a little slower than normal, but all are processing.

I have also struggled with this form. With Drake they have a way to input each household member the same way the Federal did when the penalty was charged. Even so you have to go thru all the hoops and end the end the client's I have that was affected by it, had low enough income it wasn't assessed. I still had to go thru the motions. Not really liking California this year!

I received my first batch of federal accepted e-files yesterday evening and a few more came in this morning. Looks like they opened up early, at least for Drake! I love Drake!

My mom got one but I never got a notice for either payments. Chances are good one was never sent.

I have had no problem getting email notifications for downloads or uploads. Might want to. Heck your spam folder. What I have found is the need to refresh the page sometimes as it seems to get stuck and not showing something has been downloaded. Overall I am happy with the changes, just takes some getting use to.

If logging in to the portal there is now a check box to trust this device. Selecting that by passes the second authentication. I believe this has just been added.

I have always used Dell. I wouldn't even consider anything else. I have never had a problem that I didn't cause. The only issue I ever had was trying to use an encryption software that Windows didn't like. It actually locked me out of my computer and my IT guy had to call the software provider to find a way to get my computer back. As far as hardware failure, I never have had an issue. Average life for my computers or 7 to 8 years.

Call Drake. They have a Document manager that works very well, also ability to e-sign. Both are add-ons to their software. I use the document manager all the time and have even gotten some of my older clients to use it. I have never used the e-sign as it seems a bit expensive to me.

They have Drake Accounting that includes they payroll forms. It works ok but not as easy as ATX. I make it work for me. Better than paper filing any day.

You will use their Conversion Tool. It's pretty simple, biggest problem will be with your depreciation. You will need to check it carefully. My problem wasn't with the figures but if you have both Schedule C and Schedule E you will have to link them, also if you have more than one Schedule C or more than one Rental Property, you will have to assign numbers. But like mentioned, there are several of us using it and will be more than happy to assist, Drake also has great customer support!

Your take on the solar is correct. Most solar sellers are misrepresenting the refund and using it to make their offer sound better. Depending on your clients income they may get 100% of the credit used the first year, but in my client's cases it has been spread out over two. Each time, the client is told and the contract written stating that the refund will go to principle, lowering the finance costs. Not a big fan!

That is correct if there is no adjustments needed. I had some washed sales on the one I was working on. It is reported on the 8949 but you do not put in any dates, enter all the rest of the info and under adjustment #1 select m. I did attach a copy of the statements. The more I work with Drake the more I like it. You just have to keep looking and eventually you can find how to do it.

Sorry! Wrong info. Somewhere in Drake (could be accounting) you have a choice to make if ss # or FEIN #

I believe there is an arrow that opens to give you the chouc3.