ILLMAS

TP check and there is no record, that is why I was asking, TP was a victim of identity theft a couple years ago.

Can a TP see the status of their refund?

Hoping for a speedy recover for your mother.

There are a few members I have not seen post or chime in for a while, hope you are doing good, let us know you how you are doing.

Thanks for your reply, form 8332 would be the solution, TP is the noncustodial parent. MAS

It's more on the due diligence, TP provided the divorce decree and I know it's not enough to prove the kids lived with TP, provided 50% of their support etc....

Exactly

Can someone remind me of what the IRS thinks of parent court agreements of sharing kids for tax purposes? Thanks

I am a bite confused, I thought all business returns were due on 7-15-20 after they were extended, I tried submitting an extension in ATX it was rejected because it was passed due.

Yes you are correct, the sale was between the shareholders, the $8000 in capital stock didn’t change on the books.

First time encountering this scenario, 4 shareholder business sold their corporate stock between each other, each member contributes $2,000 back in 2005, in 2019, husband and wife bought 24.5% x 2 of shares, making the other shareholder only .5% owners. The shares were sold at cost, how do I report this sale on the 1120S/k-1`s? I am aware the shareholder that sold their share will report on sch D. Thanks

https://blog.stridehealth.com/post/instacart-shoppers-tax-guide#:~:text=1099-MISC%3A Reports how much,in a given tax year.&text=As an independent contractor with,receive this form from them.

TP has really had no taxable income for the past years, but makes an estimated tax payment just in case he has any capital gains from his brokerage, the over payment is carry forward into the following year on the tax return, but the IRS and the state has been issuing a check. Anybody know why they return the money?

I do consulting work for a CPA firm and the computer they assigned me, the caps lock randomly turns on, today my computer started doing the same. Both computers are Dell XPS, Win 10 Pro, anyone else experiencing this problem and is there a fix?

They better make a quick decision, I am so behind with work after being quarantined for about a month

Yesterday I told a client, normally we "accountant/tax preparer" get the blame anyways, we were talking about reasonable compensation.

Who else has signed up for it? I usually try to make it when it comes to my city, unfortunately it’s virtual this year.

I have heard of the brave browser, it seem people who are “youtuber” use this browser to get back at YouTube for censoring their content. Supposedly it blocks ads, YouTube and YouTubers don’t make money if the ads are not shown or something like that.

Any today we wake up to a new version of Edge installed on our Windows 10 machines, I never said I wanted it.

Funny, when I was in college, they recommended we use Netscape browser, a couple of years later it disappeared, used IE for a couple of years, then our IT person recommended Mozilla in the mid 2000s, and today they recommend using Chrome or Firefox, but not IE

Thanks, I will try with IE on Monday.

Can someone tell me what I am doing wrong, after the IRS stopped faxing transcripts I signed up for online access, haven't used it since, yesterday I got locked out for attempting to log in too many times. I believe the problem I am having is with the site image and site phrase, but it doesn't allow me to confirm or deny, just allows me to put in my password. Can someone let me know what I am doing wrong. Thanks Log In Verify that your Site Image and Site Phrase below are correct. If the Site Image and Site Phrase are not correct, please do not proceed.

Yes, I made a mistake, thanks for the catching it. MAS

Yesterday I participated in a PPP webinar and here a couple of things I didn’t know of: 1. Many business will not qualify for the loan forgiveness even after the 24 month extension (presenters opinion) period, the why to follow. 2. Employees do not want to return back to work because they make more collecting unemployment. 3. New hires are on the same boat as # 2 or have better options 4. Employers are required to report any employee that refused to come back to work to the unemployment department (I have a couple clients with this problem). 5. Owner compensation has to be separated from the rest of the employees salaries. 6. Employers are allowed to give bonuses to reach the loan forgiveness threshold. 7. Full time employee calculation will be required. 8. Sch C owner who received a loan and are now collecting unemployment is now a no no. 8. Many clients that applied are going to have a hard time filing out form 3508 and schedules, to brush up on it to help your clients with the application.

Does anybody find joy in preparing a tax return using a trail balance only? I know it’s the same thing as the BS & PL but when the TB is almost 4 page long, I would prefer an actual BS and PL. I guess I feel more comfortable sticking to what has worked for me in the past.