schirallicpa

For tax season this year I want a summary page for all of the Sch E's. Thank you, Santa.

Yeah - I think so. Over the weekend I read that the retained earnings doesn't come into play.

Have you guys using Splashtop been comfortable with the security. IRS compliance?

I feel like I'm doing this wrong. C corp. 1 shareholder. Not my client - or I would have had him become an S corp years ago. Sold assets and closing corp. Tax preparer of past wants to distribute dividends. I'm not sure. I think this is liquidating distributions and dividends maybe should have been paid in the past. But it's all done, and I have been asked to prepare final return. TP gets: Cash and Note totaling: 202278. His stock and APIC total: 62600 Unappropriated RE totals: 101291 He has personal gain on 1040: 38387 ?? Am I off the rails and clueless here? Blind leading the blind? Please be gentle with me....

I have a handful of small 501c3s that file 990N. And in the past i have been able to log in and see all of them and see the status, etc. Now - when IRS makes me log in with IDme I am not finding anything. Ummph

I have a handful of small 501c3s that file 990N. And in the past i have been able to log in and see all of them and see the status, etc. Now - when IRS makes me log in with IDme I am not finding anything. Ummph

My client needed to amend 2020 and 2021 for ERC 941 amendments. This changes the carryforward of RE on the BS. Do you recommend amending 2022 for these changes that are only affecting BS. (Client is a C corp)

The LLC is just being created - real estate to be moved to it - but I don't think the LLC gets anything more than the current owners cost basis. Just wanted to quickly double check

Funny - when I typed that I typed condumdum and I think that makes more sense. Just venting. The IRS advised the NP Org that they will not accept paper filed returns. They had been mailing in very shotty attempts at a 990 for the last few years. They - as typical small NP - ignored notices first notices that apparently had been mailed to them in May. In August they came to me. It has taken since then to compile 2020, 2021 and 2022. And now the returns are rejected because they have lost exempt status.

I have a client that thought he was getting a big ERC credit and that did not work for him - because his business grew during the pandemic. So he is now looking for money in his wife's retirement account and thinks there must be a way to avoid tax and penalties.

Did this expire at the end of 2022?

Glad I opened this thread - had totally forgetten about doing my payroll reports.......

my bad - since it let me load it in the software along with the 990 (2020), I didn't realize it needed to be a separate return. Thanks!

If they truly cannot pay tax, they can be placed in CNC status. Surely they can pay you. I remind people that they still manage to pay for their crap at Walmart. They still pay their TV bill. They still smoke (in some cases). They still can pay you. I'm sorry. I just can't see that anyone is that bad off. If they are filing a return reporting income, they have income. I'm kinda being hard-hearted. Tell them to take it somewhere else.

Everything is new to me this year, I swear. Nothing simple and routine here.... Filing a 990 for a nonprofit. They have to file 990T as well. I have an efile error that says 990T cannot be filed with 990, must use the EF info sheet to efile the 990T. HUH?

When I google for attorneys in Denver, there are a bunch. We're looking for someone who can possibly help us. Our daughter is in a hospital out there and we are not happy with the level of care. But nobody's dead - we're not catastrophic. Not looking for an ambulance chaser. But would appreciate a genuine person that may be able to give us some direction.

Thank you! Crossing my fingers............

I want to follow this to see if anyone has an answer other than override.

My federal return has to be paper filed. (This is lady with IRS PIN issue.) But she has a NYS return that I thought I could still efile without the IRS efile. I think I used to be able to. I'm just ready to scream today! grumble mumble........grumble mumble............

It is faxed to the "rejects team"............

Not that I want the IRS to go after every S-corporation that doesn't pay reasonable comp - but I feel like the IRS is missing easy catches on that topic.

We highly encourage clients to pay ACH debit with the return. If they are mailing, we give them the priory envelop and advise to pay for the tracking and to make a copy of the check before mailing. And I agree with JohnH - the rules say you have to prove that you mailed it. You don't have to prove that they got it.

My little doggers - Vinny - passed away a few weeks ago. He was with me for 14 years and was a major part of my tax practice as the social and welcoming committee. He had his own Instagram and I swear I got clients because of him. We had gotten him in January. We live in western NY and my husband is the town highway superintendent. So in January, he's pretty busy with roads. When I called him to go down to the house and check on my new puppy and he told me he was too busy, I started bringing him to work with me. He peed on lots of clients that year, and W2s and tax returns. As soon as he heard the door open, he'd be up and running to see who it was. I had a number of clients who would bring him toys and treats. I'm missing him!

Surviving spouse has filed MFS for a couple of years. Divorce never settled and then H died in April 2023. She got a request from IRS for 1310. I was kinda surprised. I am sure he never filed a return for 2022 before he died. He was self-employed and had gotten behind with taxes. The couple was separated. I did the wife's returns MFS for last 2 years. So this is only regarding her tax refund. He certainly would not have any. But I'm not understanding why we still need the 1310 when it's MFS. Oh well. Will fill out and send along......

After spending about an hour on the phone with IRS to get a damn PIN I was told that the electronic signature on the 2848 was only acceptable when uploaded thru the IRS portal. Which it was uploaded thru the portal. Which my software says it was accepted on Oct 3. But the woman at the PIN phone center didn't find it. So she asked me to fax it to her. And then she wouldn't accept it because it needs to be an original signature.