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My client received Form 1099, showing income in box 3. The income is from the Cares Act-MSMFC. I know that is is taxable, but I am not sure, but I d... read more
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The person who decided to upgrade the REP payment processing software...needs to be fired.Now we have to call Lacerte to make a payment.The payments made over t... read more1 0
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Posted today. What's interesting is that the people who usually accept IRS "guidance" as gospel, are still posting comments about how they don't want to m... read more1 0
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My clients parents had their retirement distributions taken out weekly by their granddaughter fraudulently. It was reported to the police and their entire retir... read more
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My client formed a partnership last year and applied for EIN and then decided to change the business name. When I filed the initial return the IRS rejected it b... read more
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Second time I have seen this in two days. Income on 2019 joint return is more than $160K. 2020 return has not been filed yet. Wife gets Social... read more0 0
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The decedent died in 2016. In 2020, it was discovered that the Commonwealth of Pennsylvania was holding unclaimed property. It lists over 40 items o... read more
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I filed an Injured Spouse form for client who married someone who owes back child support so they wouldn't take her refund. They ended up taking more than half.... read more
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How can I report the disposition of installment sale. Buyer filed bankruptcy, no income to my client and she can't retrieve anything from the shop. ... read more0 0
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I have a client who is selling a house to his son. Will she be able to apply the cap gain exemption in this arms-length transaction?Example: Sale pri... read more0 0
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I am trying to figure out where this number flows from. I do not understand. Line 3a is 328 3b is 736column B is 1,177.If someone can help me I woul... read more0 0
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Nonresident alien (NRA) spouse of a US resident applying for an ITIN should choose box e in the first section of form w7 correct?Spouse of U.S. citizen/resident... read more
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A client received IRS approval to file as an S-Corp starting 1/1/2020. The 1120-S and 1040 are complete, however, I am getting a critical diagnostic that says t... read more2 2
