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Thank you so very much!
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Thank you!One more question. If the client over-paid a federal estimate in 2021 for tax year 2020 and received a refund, would that be considered income?
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The tax return states cash basis but on the return where the estimates are reported it's listed there as well as on the deduction screen. On the deduction scree...
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My understanding is if the c-corporation paid estimates or overpaid throughout or end of the year, then it's money returned as an overpayment not as income.http...
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I have a client that received refunds for his c-corporation from both state and IRS and included the income on their P&L.Is it taxable income if they use cash m...
