Yardley CPA

I am preparing the final return for a single client who passed away in 2007. Return shows a refund due. Client's sister was named executrix in client's Will. Thankfully, I do not prepare all that many "final" returns but was wondering if form 1310 is required in this situation? Or is the refund automatically made payable to the "Estate of?" Thanks!

I purchased a new computer in December with Vista Ultimate as the operating system. So far, so good. Both the 2006 and the current year ATX programs have not given me any issues (knocking hard on wood here). Hopefully that continues but I have not experienced any problems with ATX or any other application for that matter. Good luck!

I would tend to agree in questioning whether the children are considered dependants on their parent's return. If so, and the parents paid the debt, I would think the parent's are entitled to the deduction.

Thanks for the responses. The dates had me a bit confused.

Client brought me a K-1 today that was sent to her by her brother. It reflects interest income and inheritance income from their fathers trust. The dates on the K-1: Tax year beginning 12/01/2006 and ending 11/30/2007. Based on these dates, shouldn't this income have been reported on her 2006 return??

Just wondering if you use the "Client Copy" watermark on the copy you provide the client?

Excellent Clip, John. It rings so true!!! :D

Is there a problem with the Efile Manager?? Specifically the "status date" column. All of my times are stamped as 12:00 AM? Is that correct? I was under the impression that it should reflect the actual time it was accepted?

It sounds right to me. In New Jersey you receive a credit for taxes paid to other jurisdictions not sure about Mass.

I filled out an IT203-B to reflect he did not work anytime at all in New York during 2007. He never went into the office. It was a severance. So, the IT203-B produces 0 taxable income in NY on the IT-203 and the Itemized/Standard deduction automatically populates with nothing.

I have a client who received a $66.25 check as a part of the settlement of AOL Time Warner ERISA litigation. The letter states: "Please be advised that all applicable taxes have been paid on the interest earned by the Net Settlement fund and the Fair Fund while the funds were invested pending distribution. You should consult with your tax advisor to determine the tax consequences, if any, of this distribution." It would seem to me; this is taxable as interest income to my client. I believe the key phrase above is "while the funds were invested pending distribution." Wouldn't that suggest the actual amount distributed is taxable as interest income? Thanks!

I efiled an NY IT-203 return for a New Jersey Resident who did not work or live in NY for any portion of the year. He received a W2 as a result of severance package. After completing the return, he ends up with zero NY income and receives a refund for his entire NY W/H. However, the IT-203 does not populate the standard or itemized deduction field because his income ends up being zero. As a result of no figure in this field, the return was rejected. Any idea if I am doing something incorrectly? Or any idea on how to fix the issue? I do not prepare all that many NY returns, but it seems to be correct. Thanks!!!

Thanks for your help!! That's exactly it.

I am filing a federal 1040, Pennsylvania (as the piggy-back), New Jersey and New York as State Only. It will not even give me the option of filing the Oklahoma return. Not sure why.

I have a client with 4 States and the Fed 1040. When I go to create the efile, it only creates the Federal 1040 and 3 States. Is that the maximum number?

Just seemed like a blah sort of day. I'm closing up the computer soon and looking forward to Hump Day.

Thanks for the heads-up!

All of my client letters rolled over just fine.

Thanks, Bob. I researched it a bit yesterday and found the information to dissolve. I am going to file for 2007 with the minimum payment and then dissolve shortly after tax season.

Is the return for a married couple? Is it possible that the wife never changed to her husband's name? That has happened to me in the past and once I input the wifes's maiden name, the retun is accepted with no issues. Just a thought.

I am filing clients New Jersey CBT-100. It is the final return as the company has been inactive for the last several years and has no plans of conduting any furture operations. Is there anything special that needs to be done?? I noticed that there is no longer a box on the form to check as Final Return so I didn't know if there were any special filing requirments. I assume the final return is submitted with the minimum payment of $500? Thanks!

I have a client who is a Pennsylvania resident, MFJ. There are 3 Pennsylvania Schedule D's that a calculate...1 for him, 1 for his spouse and 1 for joint. The amount that flows to the front of the PA - 40 is only the amount from his Schedule D. It does not add all the Schedule D's together. I recall having this problem in the past but can't remember the fix. Thanks!

I am having a problem with my Pennsylvania Schedule D and tried calling ATX this morning. Do they have Saturday hours? Am I calling the correct number: 800-638-8291? I understand I may be sitting here for 2 hours waiting for them to answer, but I was surprised to learn they are only open M-F??!

I have a client who is a resident of New Jersey. He works as a consultant and travels regularly. He received his W2 which showed wages in both NJ and NY. NY wages exceeded $100,000. Client says he only worked in New York City for about 3 weeks and that all of the other consultants in his firm received similar W2's. His Company indicates the W2's are correct because the headquarters for the client are in New York. My question is this...is there a way to allocate the wages. I recall there being a Schedule A in the past that allowed you to show the number of days you actually worked in New York. Am I missing something?

I purchased a Dell XPS in December 2007 and purchased Vista Ultimate with the machine. So far, so good. Some minor upgrades over XP that I like but nothing significant that I noted. ATX seems to be running just fine with Vista (knocking hard on wood, here!)