SensibleandHourly's Posts

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SensibleandHourly's Posts

Thank you. She will be glad to know she is not under the 10 year guideline.  Have a wonderful day, Dawn
Thank you both. I'm curious if she could use the stretch IRA option as a non-spouse since the decedent passed away in 2017. If I understand the changes correctly under the Secure Act, non-spouse bene... See more...
Thank you both. I'm curious if she could use the stretch IRA option as a non-spouse since the decedent passed away in 2017. If I understand the changes correctly under the Secure Act, non-spouse beneficiaries can no longer take that option and must disburse the funds within 10 years? However, is there any lee-way because she inherited before the Secure Act? Cheers, Dawn  
Hello everyone,  I am helping a client who inherited an IRA in 2017 (non-spouse). I understand that she cannot combine it with her own Traditional IRA, or taxable account, but I'm a little unclear o... See more...
Hello everyone,  I am helping a client who inherited an IRA in 2017 (non-spouse). I understand that she cannot combine it with her own Traditional IRA, or taxable account, but I'm a little unclear of other options available considering the SECURE act changes. The decedent passed away on May 14th 2017.  Thank you, in advance, for any thoughts on this situation.  Cheers,  Dawn 
Good morning,  Thank you for responding to my question last week. Perhaps, these returns are going through a human review, but why in the world the IRS can't simply send a letter is beyond me. Back ... See more...
Good morning,  Thank you for responding to my question last week. Perhaps, these returns are going through a human review, but why in the world the IRS can't simply send a letter is beyond me. Back to the waiting game.........  Have a great Monday,  Dawn  p.s. snowing this morning in Northern Michigan. 😉  
ah yes, if only that modern technology were available! Thank you for your perspective.  Have an amazing day,  Dawn 
Thank you!!  I wish they would let folks know what the hold up is, sheesh. But, I will encourage a little more patience.  Definitely, if you can't stay home, keep your distance. I don't think Covid-... See more...
Thank you!!  I wish they would let folks know what the hold up is, sheesh. But, I will encourage a little more patience.  Definitely, if you can't stay home, keep your distance. I don't think Covid-19 has exactly run it's course yet.  Have a great weekend,  Dawn 
Hello there ProConnect Community,  Anyone have any suggestions as to why a client's successfully e-filed return has still not been processed?  And, or course, this one is for my own grown daughter. ... See more...
Hello there ProConnect Community,  Anyone have any suggestions as to why a client's successfully e-filed return has still not been processed?  And, or course, this one is for my own grown daughter.  She did have a set of twins in December. Could the extra kiddos be holding things up? The submission went through March 13, 2020, and she hasn't heard anything from the IRS and the website just tells her that the application is still being processed. ??? Any advice I could pass on would surely be appreciated.  Thank you, and hope everyone is having a great Friday,  Dawn 
I'm completely good with that extra 3.28! 😉  
Ah, I understand. Thank you! So glad to have this online resource!!  Warmly,  Dawn 
Thank you,  I just checked the W-2 again. Box 12a is "S 1649.96". Retirement Plan box is checked in section 13. I'm wondering where the 3401.44 comes from? Maybe that is the error the IRS said that ... See more...
Thank you,  I just checked the W-2 again. Box 12a is "S 1649.96". Retirement Plan box is checked in section 13. I'm wondering where the 3401.44 comes from? Maybe that is the error the IRS said that it corrected with the employer? The message was   "We didn't allow the amount claimed in a deduction for self employed SEP, SIMPLE, and qualified plans on your tax return. Your employer has already adjusted Box 1 of your Form W-2 to exclude this amount. (1610)  I put into the system exactly what was on the W-2 AND the Form 5498.  Because the figures didn't match, I thought it was two separate deposits. However, I am definitely happy to make right with the client. Thank you for taking the time to respond! Dawn
Thank you,  I just checked the W-2 again. Box 12a is "S 1649.96". Retirement Plan box is checked in section 13. I'm wondering where the 3401.44 comes from? Maybe that is the error the IRS said that ... See more...
Thank you,  I just checked the W-2 again. Box 12a is "S 1649.96". Retirement Plan box is checked in section 13. I'm wondering where the 3401.44 comes from? Maybe that is the error the IRS said that it corrected with the employer? The message was "We didn't allow the amount claimed in a deduction for self employed SEP, SIMPLE, and qualified plans on your tax return. Your employer has already adjusted Box 1 of your Form W-2 to exclude this amount. (1610)  Sure do appreciate the feedback, thank you! Dawn
My apologies, The contribution was a SIMPLE, not a SEP. The contribution was reported on Form 5498. I do not see the pertinent dollar amount on his W-2 from his current employer.  Before I contact th... See more...
My apologies, The contribution was a SIMPLE, not a SEP. The contribution was reported on Form 5498. I do not see the pertinent dollar amount on his W-2 from his current employer.  Before I contact the client again, any thoughts on clarifying questions, I should be asking him?  Thank you very much. 
My apologies, The contribution was a SIMPLE, not a SEP. The contribution was reported on Form 5498. I do not see the pertinent dollar amount on his W-2 from his current employer.  Before I contact th... See more...
My apologies, The contribution was a SIMPLE, not a SEP. The contribution was reported on Form 5498. I do not see the pertinent dollar amount on his W-2 from his current employer.  Before I contact the client again, any thoughts on clarifying questions, I should be asking him?  Thank you very much. 
Hello Community,  My client received an adjustment letter from the IRS stating that their SEP amount was not allowed.  "We didn't allow the amount claimed as a deduction for self-employed SEP, SIMP... See more...
Hello Community,  My client received an adjustment letter from the IRS stating that their SEP amount was not allowed.  "We didn't allow the amount claimed as a deduction for self-employed SEP, SIMPLE, and qualified plans on your tax return. Your employer has already adjusted Box 5 of your form W-2 to exclude this amount. (1610)." I've directed my client to contact their employer and the HR lady says she hasn't heard anything from the IRS.  Not sure what steps to take next either for myself or to advise them to do.  Thoughts?  Thank you, everyone, hope you are all staying safe and well out there,  Dawn 
Good morning, Do you mean did I get a different number from last year? I think so, but I can double check although the reject notice says that the problem is with my husband's # and we just secured ... See more...
Good morning, Do you mean did I get a different number from last year? I think so, but I can double check although the reject notice says that the problem is with my husband's # and we just secured his last week.  Hmmmm....  Dawn
Hmmmm........... I must be doing something wrong, but I can't imagine trying to call the IRS right now to figure it out! 
Good morning,  I have checked and double-checked mine vs my husbands. As far as the January question, I pulled out my printout from the IRS and can't find a date. Although, just got an updated one f... See more...
Good morning,  I have checked and double-checked mine vs my husbands. As far as the January question, I pulled out my printout from the IRS and can't find a date. Although, just got an updated one for my husband last week and that is the one they say they doesn't match what is on file. So frustrating, really didn't want to do a paper form this year. 😉    
Hello to the network!  Wouldn't you know it? I can't seem to get my own personal tax form submitted. My husband and I both have IP PIN #'s which keep getting rejected by the system. I have the lette... See more...
Hello to the network!  Wouldn't you know it? I can't seem to get my own personal tax form submitted. My husband and I both have IP PIN #'s which keep getting rejected by the system. I have the letters from the IRS right in my hand, and type them in carefully but still am getting an error message. Curious if anyone else has had this happen or do I really just need to send it in via paper mail?  Thank you so much for any ideas you might have,  Dawn 
Hello,  Did you mean the info page at michigan.gov? As far as Detroit, I finally printed a fill-able from straight from the web. Now I'm on to Lansing. 😉 Still not sure what I'm missing on the ... See more...
Hello,  Did you mean the info page at michigan.gov? As far as Detroit, I finally printed a fill-able from straight from the web. Now I'm on to Lansing. 😉 Still not sure what I'm missing on the software though.  Cheers, Dawn 
Hello,  Thank you for that idea! I will check it out. Have a wonderful day, Dawn