Practice Scenario 5. Concepts. Products and Services
|
|
- Jayson Fowler
- 6 years ago
- Views:
Transcription
1 Practice Scenario 5 Concepts In this exercise, you will be applying the following concepts: IRS and Industry Procedures Electronic Signatures Recordkeeping Requirements ProFiler Expertise Occupational Diagnostics (Deductions@Work ) Business Codes for Self-Employed Taxpayers Due Diligence and the Earned Income Tax Credit Lessons Learned Tie-Breaker Rule Earned Income Tax Credit Additional Child Tax Credit Filing Status: Single W-2 Errors Form 1099-MISC and Self-Employment Income Form 1099-R Coupons Schedule M Information Electronic Signature and Storage (ESS) Products and Services Refer to your Jackson Hewitt Products and Services Overview Guide if you need assistance with any product or service in this exercise. As a reminder, the guide contains the following information for each product and service: Recap Client Benefi ts Fees ProFiler Practice Scenarios 5-1
2 IRS and Industry Procedures This section provides information you need to know to apply the following IRS industry procedures. Electronic Signatures Taxpayers who wish to e-fi le must sign their return electronically using a fi ve-digit personal identifi cation number (PIN). ProFiler uses only the Practitioner PIN Program method. Under this method, taxpayers can choose either of the following: ProFiler-generated PIN - Taxpayers authorize Jackson Hewitt to generate a PIN on their behalf Taxpayer-selected PIN - Taxpayers choose a fi ve-digit number and either enter it in ProFiler or authorize you to enter it for them The appropriate box is checked on Form 8879 to indicate which method was chosen by the taxpayer. Once it is signed by all taxpayers and the preparer, the return is ready for processing. On Married Filing Jointly (MFJ) returns, if one of the taxpayers is absent, leave the absent individual s PIN blank and put the return on hold. Absent taxpayers may complete Form 8879 by choosing their PIN and authorizing you to enter it. Once they complete this step, the form can be mailed, faxed, or returned to the tax preparation offi ce. When received in the offi ce, open the previously saved return, enter YES to question 10112, Preparer Is the taxpayer present? or question 9965, Preparer Are both taxpayer and spouse present? and then enter the missing PIN. This completes the return and allows the offi ce to process it. In either case, the completed Form 8879 must be retained in the taxpayer s fi le at the Jackson Hewitt Tax offi ce. Recordkeeping Requirements The IRS requires that you keep a copy of each W-2 in a client s fi le. When a W-2 has been successfully downloaded into ProFiler using the CIC Plus, TALX, or ADP methods, no paper copies are necessary. You must also keep copies of any Forms W-2G and Forms 1099-R, as well as any supporting documents that are not included in the electronic return data. An example of such a document is a depreciation worksheet. Remind the taxpayer to keep their client packet and any supporting documentation for items on their tax return for at least three years. They can request a copy of their tax return from any Jackson Hewitt offi ce with appropriate identifi cation. When a completed return is presented for electronic fi ling only, you must keep a copy of the completed return and Forms W-2, W-2G, and 1099-R in the client fi le. If a taxpayer gives you a return already completed by a paid preparer, it must contain the paid preparer s signature. 5-2 ProFiler Practice Scenarios
3 ProFiler Expertise This section describes how ProFiler helps you handle the following situations. Occupational Diagnostics ) Some occupations are likely to have specifi c deductions. For example, mechanics may have expenses for work tools. Whether you use the normal or accelerated interview, a reminder diagnostic message appears in sections that include related occupational deductions if a corresponding deduction has not been entered. Business Codes for Self-Employed Taxpayers ProFiler has many built-in features to help you locate the information needed to complete various schedules. When you reach question 1524, Enter the business code that most closely matches the client s principal business or profession, you are directed to use ProFiler s question Help to view a complete list of business codes. When you click select a business code in the Help section, ProFiler loads Adobe Acrobat and displays a list of business codes. Follow the instructions on the screen to select an appropriate code. If you need additional instructions, consult the ProFiler Help screen. Due Diligence and the Earned Income Tax Credit When you prepare a return, you must make a declaration that the return is true, correct, and complete. You need to be confi dent in the accuracy of the information the client has provided. ProFiler provides various cautionary and advisory messages throughout the interview. You can use the Notes feature in ProFiler to record additional information the taxpayer has provided. There are two types of notes: Customer notes, which print with the client s documents; and Preparer notes, which print on office copies only. Both notes become a permanent part of the ProFiler return file and can be retrieved using Last Year s System (LYS) for returning clients. When preparing Schedule C for self-employed taxpayers, ask all the questions you need so you are confi dent in the information you are reporting. This includes, but is not limited to, assuring yourself that the taxpayer understands all recordkeeping requirements for self-employed individuals. For the Earned Income Tax Credit (EITC), the IRS has established specifi c questions that must be asked of each EITC-eligible person in order for the preparer to meet their due diligence obligation. Questions concerning income are calculated based on your entry of all income the taxpayer received. The answers to other questions are determined automatically by ProFiler based on entries made throughout the interview process, including those in the Dependents section concerning relationship, age, support, and how long the taxpayer and the individual have lived together during the year. You must ask the taxpayer these questions and faithfully record the answers. Never assume that you know the answers without asking. ProFiler Practice Scenarios 5-3
4 Practice Tax Return Scenario Use the taxpayer information provided in the following section to prepare a tax return. After you complete the return, review the Lessons Learned section to see how you did. Client Information Linda D. Van Gokkel ( , ) is single and lives with her mother at Bear Lake Crescent, Apartment 2569, Your City, YS and ZIP Code. Her daughter, Mary T. Van Gokkel ( , ), lived with her all year. Mary does not provide any of her own support. Linda s cell phone number is She has no other phone. Last year, Linda had her tax return prepared by a Certifi ed Public Accountant (CPA). Her cost for last year s tax preparation was 325. Linda chooses not to give her address. She is not interested in receiving s. When you ask if anyone else lives with them, Linda tells you that she and Mary live with her mother, Elizabeth. Linda is concerned because her mother wants to claim Mary on her tax return this year. Elizabeth made more money than Linda, so she paid all of the rent and utilities for their apartment. Linda paid for some of the food and all of the clothing and other needs for Mary. Linda has also decided she wants to claim Mary. Linda is a cosmetics sales associate (W-2s are shown). As a side job, Linda occasionally demonstrates Sophisticated Lady cosmetics at a department store. She received the Form 1099-MISC shown. She also earned and recorded 130 doing demonstrations for Pretty Girl cosmetics, but did not receive any tax information from them, so she is not sure what to do about it. Realizing that Linda may have some expenses for her business, you ask her to think about any money she has spent for her side jobs. Linda does remember that she bought a tote and some other small supplies totalling 29.69, and she still has her receipt. She uses the cash method of accounting for her cosmetics sales and does not maintain an inventory. Linda closed her 401(k) when she left her job at Liggett s Department Store. In response to your inquiries, she tells you she used the money to pay off her credit cards, and paid no medical bills during the year. Her Form 1099-R is shown. Linda received the EITC in 2009 and did not get a letter requiring her to fi le Form 8862, Information to Claim Earned Income Credit After Disallowance. She authorizes Jackson Hewitt to discuss her return with the IRS and to generate her PIN. After you explain the costs of the various options for receiving funds, Linda decides to apply for a Refund Anticipation Loan (RAL). She would like to receive her proceeds on an smartcard/ipower Card. Her mother s maiden name is McKay. The smartcard/ipower Card number on the package envelope is Linda gives you permission to disclose information about her to a bank and to mail promotional materials to her based on her tax return information. Linda presents a state driver s license (#1121G8, issue date , expiration date ) as identifi cation. Her employer s phone number is Linda decides to purchase the Gold Guarantee after you explain the costs and benefi ts of both the Accuracy Guarantee and the Gold Guarantee. She is also interested in taking a Jackson Hewitt income tax course. Her cell phone number is the best number to reach her. Linda brought in the Jackson Hewitt coupon shown. 5-4 ProFiler Practice Scenarios
5 1 Wages, tips, other comp. 2 Federal income tax withheld Social security wages 4 Social security tax withheld Medicare wages and tips 6 Medicare tax withheld d Control number Dept. Corp. Employer Use Only 01A VS VS c Employer's name, address, and ZIP code VANITY SHOP 7 ARMITURE TERRACE 1 Wages, tips, other comp. 2 Federal income tax withheld Social security wages 4 Social security tax withheld Medicare wages and tips 6 Medicare tax withheld d Control number Dept. Corp. Employer Use Only 01B-4001 D1 LIG LIG c Employer's name, address, and ZIP code LIGGETTS DEPARTMENT STORES PO BOX 100 YOUR CITY YS ZIP CODE b Employer's FED ID number a Employee's SSA number Social security tips 8 Allocated tips NEW YORK NY b Employer's FED ID number a Employee's SSA number Social security tips 8 Allocated tips Advance EIC payment 10 Dependent care benefits 9 Advance EIC payment 10 Dependent care benefits 11 Nonqualified plans 12a See instructions for box Nonqualified plans 12a See instructions for box Other 12b 14 Other 12b 12c 12c 12d 12d 13 Stat Emp. Ret plan 3rd party sick pay 13 Stat Emp. Ret plan 3rd party sick pay e / f Employee's name, address, and ZIP code LINDA VAN GOKKEL BEAR LAKE CRESCENT #2569 YOUR CITY YS ZIP CODE 15 State Employer's state ID no. 16 State wages, tips, etc. YS State income tax 18 Local wages, tips, etc Local income tax 20 Locality name W YLC Federal Filing Copy Wage and Tax Statement 2010 OMB No Copy B to be filed with employee's Federal Income Tax Return e / f Employee's name, address, and ZIP code LINDA V GOKKEL BEAR LAKE CRESCENT #2569 YOUR CITY YS ZIP CODE 15 State Employer's state ID no. 16 State wages, tips, etc. YS State income tax 18 Local wages, tips, etc Local income tax 20 Locality name YLC W-2 Federal Filing Copy Wage and Tax Statement 2010 OMB No Copy B to be filed with employee's Federal Income Tax Return Prepare Linda s return. ProFiler Practice Scenarios 5-5
6 CORRECTED (if checked) PAYER'S name, street address, city, state, ZIP code, and telephone no. 1 Rents SOPHISTICATED LADY COSMETICS 5 FASHION PLAZA 2 Royalties OMB No Miscellaneous Income CHICAGO IL PAYER"S federal identification number RECIPIENT'S identification number Form 1099-MISC 3 Other income 4 Federal income tax withheld Copy B For Recipient 5 Fishing boat proceeds 6 Medical and health care payments RECIPIENT'S name LINDA VAN GOKKEL Street address (including apt. no.) BEAR LAKE CRESCENT APT 2569 City, state, and ZIP code YOUR CITY YS ZIP CODE Account number (see instructions) 7 Nonemployee compensation Payer made direct sales of 10 5,000 or more of consumer products to a buyer (recipient) for resale Excess golden parachute 14 payments Substitute payments in lieu of dividends or interest Crop insurance proceeds Gross proceeds paid to an attorney This is important tax information and is being furnished to the Internal Revenue Service. If you are required to file a return, a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determined that it has not been reported. 15a Section 409A deferrals 15b Section 409A income 16 State tax withheld 17 State/Payer's state no. 18 State income Form 1099-MISC (keep for your records) Department of the Treasury - Internal Revenue Service PAYER'S name, street address, city, state, and ZIP code LOYALTY FUNDS 1900 CYPRESS ST SUITE 200 FRANKLIN SQUARE PAYER'S federal identification number RECIPIENT'S name LINDA Street address (including apt. no.) City, State, and ZIP Code YOUR CITY Account number (see instruction NY RECIPIENT'S identification number VAN GOKKEL BEAR LAKE CRESCENT # 2569 Form 1099-R YS ZIP CODE 1st year of desig. Roth contrib. CORRECTED (if checked) 1 Gross distribution 2a Taxable amount 2b Taxable amount not determined OMB No Form 1099-R Total distribution X 4 Federal income tax withheld Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Copy B 3 Capital gain (included Report this in box 2a) income on your federal tax return. If this 0.00 form shows 5 Employee contributions 6 Net unrealized federal income /Designated Roth appreciation in tax withheld in contributions or employer's securities box 4, attach insurance premiums this copy to your return. IRA/ 7 Distribution SEP/ 8 Other code(s) SIMPLE This information is 1 % being furnished to the Internal 9a Your percentage of total 9b Total employee contribut Revenue Service. distribution % 10 State tax withheld 11 State/Payer's state no. 12 State distribution 13 Local tax withheld 14 Name of locality 15 Local distribution Department of the Treasury - Internal Revenue Service 5-6 ProFiler Practice Scenarios
7 Lessons Learned This section describes the lessons you should have learned from this exercise. Tie-Breaker Rule With today s extended families and changing lifestyles, this exercise provides an example of some of the complicated family situations that exist. It shows how questions of dependency, fi ling status, the EITC, and the Child Tax Credit (CTC) become complex when multiple generations of the same family live together. Even though it is a complicated situation, ProFiler can help you sort out the issues when you enter the answers to all of the questions accurately. Beginning in 2009, the following items for determining whether an individual is a qualifying child for any tax benefi t have been modifi ed: To be a qualifying child, the child must be younger than the taxpayer. If a taxpayer s child fi les a joint return, then they cannot be the taxpayer s qualifying child, unless the return was fi led only as a claim for refund. If a child can be claimed as a qualifying child by their parents, but no parent claims them, then they cannot be claimed by anyone else unless another individual s AGI is higher than the highest AGI of any parent of the child. The taxpayer s child is a qualifying child for purposes of the CTC only if they can and do claim an exemption for the child. Earned Income Tax Credit The Earned Income Tax Credit (EITC) is a refundable tax credit for taxpayers who meet specifi c earned income thresholds and who are not fi ling as Married Filing Separately (MFS). Prior to tax year 2009, the EITC was payable to taxpayers who have either 0, 1, or 2 children and meet the income threshold and fi ling status requirements. Beginning with tax year 2009 and continuing for 2010, taxpayers who have 3 or more qualifying individuals will be eligible to receive an additional amount of EITC. ProFiler Practice Scenarios 5-7
8 Mary is a qualifying child for both Linda and Elizabeth. Use the Tie-Breaker Rule for situations where a child is a qualifying child for more than one taxpayer. ProFiler helps you correctly apply the Tie-Breaker Rule in situations where the taxpayers are unable to agree about who will claim the child. To document your due diligence, you should have entered YES to Question 12609, Can anybody else claim Mary Van Gokkel as a qualifying child? Let ProFiler help you explain the rules so the taxpayer can make an informed decision about what they want to do within the rules. Explaining how the Tie-Breaker Rule applies can assist taxpayers in determining who claims a child. Linda is Mary s parent, but Elizabeth is not Mary s parent. If both taxpayers claim Mary, the IRS applies the Tie-Breaker Rule and gives the benefi t to Linda. Keep in mind that Linda must make the decision and tell you whether she wants to claim Mary. Additional Child Tax Credit The Additional Child Tax Credit is a refundable credit that is available to some taxpayers with earned income above 3,000 who are not able to use all of their nonrefundable CTC because their tax liability is too low. ProFiler uses the answers you provide to complete Form 8812, Additional Child Tax Credit, and enters the allowable credit, for eligible taxpayers, on the appropriate line on Form Filing Status: Single A taxpayer can file as Single if, on December 31 of the tax year, they are unmarried or legally separated from their spouse under a divorce or separate maintenance decree, and they do not qualify for another fi ling status. Sometimes a taxpayer may desire to use the HOH fi ling status, but finds that they do not qualify because they did not provide more than half the cost of keeping up a home. Due diligence requires you to make further inquiries when the income a taxpayer reports does not seem to support a claim of having provided more than half the cost of keeping up a home. If the taxpayer can claim their own exemption, then they cannot be claimed as a dependent on any other taxpayer s return. This is because they do not meet the requirements to be a qualifying child or a qualifying relative for the other taxpayer. In this scenario, Linda does not qualify to fi le as Head of Household (HOH) because she did not provide more than half the cost of keeping up a home. Due diligence requires you to make further inquiries when the income a taxpayer reports does not seem to support a claim of having provided more than half the cost of keeping up a home. Linda can claim her own exemption. She cannot be claimed as a dependent on Elizabeth s return because she does not meet the requirements to be a qualifying child or a qualifying relative for Elizabeth. ProFiler lists the requirements for each of these. W-2 Errors You should carefully look at the name and SSN on all W-2s and note any discrepancies. Linda s last name is incorrectly presented on one of her W-2s. She should ask her employer to correct its records and to also correct her W-2 with the IRS. Name and SSN errors can affect the taxpayer s credit for Social Security taxes and can sometimes result in the taxpayer receiving a notice from the IRS. 5-8 ProFiler Practice Scenarios
9 Form 1099-MISC and Self-Employment Income All income that Linda earned on the side is taxable and must be reported on her tax return, regardless of whether she received a Form 1099-MISC. Nonemployee compensation is selfemployment income and is reported on Schedule C. Although Linda had two sources of selfemployment income, she has only one business and should have only one Schedule C. You should ask Linda about any expenses she had while demonstrating cosmetics. Explain that she needs to have documentation to support her expenses. Linda s travel to her offi ce or fi rst business location is considered commuting mileage and is not an allowable business expense. Also, travel from her office or fi nal daily business location to home is considered commuting mileage. All other mileage is treated as deductible business mileage. Also, she may have receipts for smocks that she purchased and wore while demonstrating cosmetics to her clients, which is an allowable business expense. Net self-employment income (or loss) impacts the amount of earned income used to calculate the EITC and the Additional Child Tax Credit. You must practice due diligence to report accurate selfemployment net income, especially as it relates to determining the EITC. Form 1099-R Linda s 401(k) distribution is taxable on Form 1040, Line 16b, and this early distribution is also subject to a 10% additional tax. Because Linda s Form 1099-R correctly reports Code 1 in Box 7, she is not required to fi le Form When you answer that no exception applies, ProFiler calculates the 10% additional tax and reports it directly on the appropriate line on Form Remind Linda that this early distribution limits her eligibility for the retirement savings contribution credit for the next two years. ProFiler tracks this distribution and pulls it forward through LYS if she returns to Jackson Hewitt next year. Coupons Linda brought in a Jackson Hewitt coupon. On the ProFiler Product and Service Options screen, enter the coupon code shown on the coupon. ProFiler calculates the 25 discount based on the coupon code entered. Schedule M Information The Making Work Pay Credit (MWPC) is part of the American Recovery and Reinvestment Act (ARRA) of It is equal to 6.2% of a taxpayer s earned income, but cannot be more than 400 (800 if MFJ). The credit is reduced if the modifi ed AGI is more than 75,000 (150,000 if MFJ) To be eligible to receive the MWPC, the individual must have a valid Social Security number (SSN). The credit is refundable. This means it will be shown in the Payments section of Form 1040, Page 2. The MWPC cannot be taken in any of the following situations: The modified AGI is 95,000 (190,000 if MFJ) or more. The individual is a nonresident alien. The individual can be claimed as a dependent on someone else s tax return. ProFiler Practice Scenarios 5-9
10 Electronic Signature and Storage (ESS) Beginning with tax season 2010, there will be more than one method to sign and store Front Offi ce Paperwork (FOP): Electronic Signature & Storage (ESS), or manual signatures and fi ling cabinets. ESS provides an alternative to manually signing and storing FOP documents. ESS allows customers to electronically sign (esign) FOP documents instead of using the traditional pen-to-paper signature. The documents are also stored electronically, which reduces the number of documents that must be signed and stored in the actual offi ce. Because customers will have electronic access to their FOP documents via JacksonHewitt.com, they will not have to leave the Jackson Hewitt offi ce with a large stack of papers after completing the tax interview. ESS is NOT an alternative to signing tax returns, so tax return signature documents, such as Form 8879, must still be signed with a PIN and/or manually. A copy of the signed Form 8879 must be kept on fi le for three years after the return due date, or the date the return is fi led, whichever is later. When ESS is the selected option for signatures, the FOP Wizard screen shows the printer as identifi.esign and the button for printing the FOP documents displays esign instead of Print. In the case of a jointly filed return, where one of the taxpayers is not present during the original signing process, all documents must be reviewed by the taxpayer and the tax preparer prior to placing the document package On Hold for signature by the second taxpayer. Click on Pages to View to review all pages in the document package, and then click Hold. For more information about ESS, review the ESS Rollout Guide ProFiler Practice Scenarios
11 ProFiler Practice Scenarios 5-11
12 5-12 ProFiler Practice Scenarios
Practice Scenario 6. Concepts. Products and Services. In this exercise, you will be applying the following concepts:
Practice Scenario 6 Concepts In this exercise, you will be applying the following concepts: IRS and Industry Procedures Electronic Signatures Recordkeeping Requirements Form 8453 ProFiler Expertise Apartment
More informationTAX PRIMER FOR PARENTS COMPLETING A PFS
TAX PRIMER FOR PARENTS Use this primer to get an understanding of which few tax forms will be most helpful to you as you complete your PFS. This primer doesn t provide an overview of every possible tax
More informationTAX PRIMER FOR PARENTS COMPLETING A PFS
FOR PARENTS Use this primer to get an understanding of which few tax forms will be most helpful to you as you complete your PFS. This primer doesn t provide an overview of every possible tax form you might
More informationPractice Scenario 12. Client Information
Practice Scenario 12 Use the taxpayer information provided in the following section to prepare a tax return. After you complete the return, review the Lessons Learned section to see how you did. Client
More informationStep 1: The Introduction
Step 1: The Introduction MANDATORY: Welcome to Jackson Hewitt. How are you. Receptionist/front office/tp/om staff welcomes the client and request a client data sheet be filled out (both new and returning
More informationDownload your FREE 1099 MISC demo now
1099 MISC Form 2010 / 2011 : FREE 1099 MISC Template Our 2010 1099-MISC software is trusted by thousands to print, file and electronically report 2010 1099 MISC forms. You can use our software to print
More informationVITA/TCE Training. Preparing a Return in Practice Lab
The National Tax Training Committee has modified this manual to more accurately reflect Tax-Aide policies and scope and to clarify instructions that relate to Practice Lab versus the desktop version of
More informationINDIANA 2012 Barcode TEST # IT-40PNR
Test Scenario 10 TEST R WATERS INDIANA 2012 Barcode TEST #10 2012 IT-40PNR Test Scenario 10 Taxpayer: TEST R WATERS SSN: 400 00 4069 Test Scenario 10 includes the following forms: Form IT 40PNR Schedule
More informationINDIANA 2010 Barcode TEST # IT-40
Test Scenario 9 TESTER R GRASS INDIANA 2010 Barcode TEST #9 2010 IT-40 Test Scenario 9 Taxpayer: TESTER R GRASS SSN: 400 02 4004 Spouse: MAY B GRASS SSN: 400 02 4005 Test Scenario 9 includes the following
More informationINDIANA 2011 Barcode TEST # IT-40
Test Scenario 9 TESTER R GRASS INDIANA 2011 BARCODE INDIANA 2011 Barcode TEST #9 2011 IT-40 Test Scenario 9 Taxpayer: TESTER R GRASS SSN: 400 02 4004 Spouse: MAY B GRASS SSN: 400 02 4005 Test Scenario
More informationAdvanced Course Scenarios and Test Questions
Advanced Course Scenarios and Test Questions Directions The first four scenarios do not require you to prepare a tax return. Read the interview notes for each scenario carefully and use your training and
More informationEarned Income Credit i
Earned Income Credit i ALL RIGHTS RESERVED. NO PART OF THIS COURSE MAY BE REPRODUCED IN ANY FORM OR BY ANY MEANS WITHOUT THE WRITTEN PERMISSION OF THE COPYRIGHT HOLDER. All materials relating to this course
More informationMilitary Scenario Tax Year 2016 Interview Notes
Military Training Tax Year 2016 Military Scenario Tax Year 2016 Interview Notes Michael and Jessica Williams are married and want to file a joint return. They do not have any dependents. Michael is active
More informationImani s daytime and evening (cell) phone number is Her address is
Practice Scenario 7 Use the taxpayer information provided in the following section to prepare a tax return. After you complete the return, review the Lessons Learned section to see how you did. isclaimer
More information2 Royalties. 3 Other income. 8 Substitute payments in lieu of dividends or interest. Department of the Treasury - Internal Revenue Service
Attention! This form is provided for informational purposes and should not be reproduced on personal computer printers by individual taxpayers for filing. The printed version of this form is a "machine
More informationPrepare, print, and e-file your federal tax return for free!
Prepare, print, and e-file your federal tax return for free! www.freetaxusa.com Form 1040 Department of the Treasury Internal Revenue Service (99) U.S. Individual Income Tax Return 2017 OMB No. 1545-0074
More informationName of Fiduciary - Compliance Test Acco Name of Fiduciary - Continued Line Midway Rd Carrollton, TX 75006
+ DIAGNOSTIC REPORT TRUST NAME: FEDERAL EIN: TRUST NUMBER: DIOBREF ** No Severe Diagnostics Detected ** ** No Informational Diagnostics Detected ** XD571 1000 SV0631 L605 01/18/2016 19:19:08 DIOBREF +
More informationChapter 11: Unrelated Business Income
Chapter 11: Unrelated Business Income INTRODUCTION... 100 Definition... 105 Filing Requirements... 110 Public Disclosure of Form 990-T... 111 Examples of Unrelated Business Activities... 115 Royalties
More information1040 U.S. Individual Income Tax Return 2017
F or Department of the Treasury Internal Revenue Service (99) 14 U.S. Individual Income Tax Return 17 m OMB No. 1545-74 IRS Use Only Do not write or staple in this space. For the year Jan. 1 Dec. 31, 17,
More informationSee separate instructions. Your social security number GREEN BEAN If a joint return, spouse's first name and initial
Form Department of the Treasury - Internal Revenue Service (99) 1040 U.S. Individual Income Tax Return OMB. 1545-0074 For the year Jan. 1-Dec. 31,, or other tax year beginning,, ending, 0 Your first name
More information1040 U.S. Individual Income Tax Return 2017
F or Department of the Treasury Internal Revenue Service (99) 14 U.S. Individual Income Tax Return 217 m OMB No. 1545-74 IRS Use Only Do not write or staple in this space. For the year Jan. 1 Dec. 31,
More informationINDIANA 2012 Barcode TEST # IT-40PNR
Test Scenario 11 TEST A PERIWINKLE INDIANA 2012 Barcode TEST #11 2012 IT-40PNR Test Scenario 11 Taxpayer: TEST A PERIWINKLE SSN: 400 00 4066 Test Scenario 11 includes the following forms: Form IT 40PNR
More informationEarned Income Credit
Earned Income Credit Major update Earned Income Credit Pub 4491 Lesson 30 Pub 4012 Tab I needed for 2017 law change (disaster relief) Refundable Credit A refundable credit can generate a refund even if
More information2 Royalties. 3 Other income. 8 Substitute payments in lieu of dividends or interest. Cat. No J
Attention! This form is provided for informational purposes and should not be reproduced on personal computer printers by individual taxpayers for filing. The printed version of this form is a "machine
More informationPanex 1040 Individual - Spouse Home address (number and street). If you have a P.O. box, see instructions.
Form 4 Department of the Treasury ' Internal Revenue Service (99) U.S. Individual Income Tax Return For the year Jan. - Dec.,, or other tax year beginning,, ending Your first name and initial OMB No. 545-74
More informationMARKETS Review Guide: ADVANCED. Using Your Client s 1040 to Identify Planning Opportunities
1040 Review Guide: Using Your Client s 1040 to Identify Planning Opportunities ADVANCED MARKETS All guarantees, including optional benefits, are backed by the claims paying ability of the issuing insurance
More informationThis form is referenced in an endnote at the Bradford Tax Institute. CLICK HERE to go to the home page. Attention:
This form is referenced in an endnote at the Bradford Tax Institute. CLICK HERE to go to the home page. Attention: This form is provided for informational purposes only. Copy A appears in red, similar
More informationa Taxable interest. Attach Schedule B if required... 8a b Tax-exempt interest. Do not include on line 8a...
Form 1040 Department of the Treasury Internal Revenue Service (99) U.S. Individual Income Tax Return 2017 OMB No. 1545-0074 IRS Use Only Do not write or staple in this space. For the year Jan. 1 Dec. 31,
More informationYour first name and initial Last name Your social security number
1040 Department of the Treasury Internal Revenue Service (99) U.S. Individual Income Tax Return OMB No. 1545-0074 IRS Use Only Do not write or staple in this space. Filing status: Single X Married filing
More informationForm CT-1040ES Estimated Connecticut Income Tax Payment Coupon for Individuals
Department of Revenue Services State of Connecticut Form CT-1040ES 2017 Estimated Connecticut Income Tax Payment Coupon for Individuals 2017 (Rev. 01/17) Complete this form in blue or black ink only. Who
More informationsocial security number relationship to you Add numbers on d Total number of exemptions claimed... lines above
Form 1040 Department of the Treasury Internal Revenue Service (99) U.S. Individual Income Tax Return 2017 OMB No. 1545-0074 IRS Use Only Do not write or staple in this space. For the year Jan. 1 Dec. 31,
More information$ 2 Royalties. 3 Other income. 8 Substitute payments in lieu of dividends or interest. Department of the Treasury - Internal Revenue Service
Attention! This form is provided for informational purposes and should not be reproduced on personal computer printers by individual taxpayers for filing. The printed version of this form is a "machine
More informationAttention: See IRS Publications 1141, 1167, 1179 and other IRS resources for information about printing these tax forms.
Attention: This form is provided for informational purposes only. Copy A appears in red, similar to the official IRS form. Do not file copy A downloaded from this website. The official printed version
More informationLINE 13 CAPITAL GAIN AND LOSSES (SCHEDULE D) LINE 16 PENSIONS AND ANNUITIES LINE 17 RENTAL REAL ESTATE, ROYALTIES LINE 20 SOCIAL SECURITY BENEFITS
LINE 13 CAPITAL GAIN AND LOSSES (SCHEDULE D) LINE 15 IRA DISTRIBUTIONS LINE 16 PENSIONS AND ANNUITIES LINE 17 RENTAL REAL ESTATE, ROYALTIES LINE 19 UNEMPLOYMENT LINE 20 SOCIAL SECURITY BENEFITS LINE 21
More informationDeSain Financial Services 2018 Tax Questionnaire
Last Name: Last Name: Taxpayer First Name & Middle Initial: Taxpayer Social Security Number: Taxpayer First Name & Middle Initial: Social Security Number: Address: City, State, Zip: Home Phone: Work Phone:
More informationForm 1040-V. Department of the Treasury. Internal Revenue Service $ 3, Dave Dave Sarah Sarah Terrace Glenview, IL 60001
2006 Form 040-V Department of the Treasury Internal Revenue Service For Privacy Act and Paperwork Reduction Act tice, see separate instructions. DETACH HERE Form 040 (2006) Department of the Treasury Internal
More informationAdvanced Course Scenarios and Test Questions
Advanced Course Scenarios and Test Questions Directions The first four scenarios do not require you to prepare a tax return. Read the interview notes for each scenario carefully and use your training and
More informationSign Here Joint return? See instructions. Keep a copy for your records.
Form 1040 (99) U.S. Individual Income Tax Return IRS Use Only Do not write or staple in this space. Filing status: Single Married filing jointly Married filing separately Head of household Qualifying widow(er)
More informationCLICK HERE to return to the home page
CLICK HERE to return to the home page 9595 VOID CORRECTED Copy A For Internal Revenue Service Center 5,000 or more of consumer File with Form 1096. For Privacy Act and Paperwork Reduction Act Notice, see
More informationWhat s In My Paycheck? compensation package: all of the wages (salary, bonus, commission) and benefits provided by an employer. What s In My Paycheck?
compensation package: all of the wages (salary, bonus, commission) and benefits provided by an employer wages: money paid or received for work or services completed, usually by the hour, day, or week hourly
More informationDetermining your 2017 stock plan tax requirements a step-by-step guide
Determining your 2017 stock plan tax requirements a step-by-step guide Alert: The tax-reform legislation adopted in December 2017 does not affect the 2017 tax year or the federal tax return for 2017 that
More informationDetermining your 2017 stock plan tax requirements a step-by-step guide
Determining your 2017 stock plan tax requirements a step-by-step guide Alert: The tax-reform legislation adopted in December 2017 does not affect the 2017 tax year or the federal tax return for 2017 that
More informationCHAPTER 2 GROSS INCOME AND EXCLUSIONS
Solutions for Questions and Problems Chapter 2 39 CHAPTER 2 GROSS INCOME AND EXCLUSIONS Group 1 - Multiple Choice Questions 1. C (Section 2.1) 8. C (Section 2.6) 2. C (Section 2.1) 9. B (Section 2.7) 3.
More informationU.S. Individual Income Tax Return 2013 OMB No IRS Use Only- Do not write or staple in this space.
Department of the Treasury - Internal Revenue Service (99) 11 040 U.S. Individual Income Tax Return 2013 OMB No. 1545-0074 IRS Use Only- Do not write or staple in this space. For the year Jan. 1-Dec. 31,
More informationRetirement Plans and Social Security
Retirement Plans and Social Security Session 10 CORRECTED (if checked) PAYER S name, street address, city, state, and ZIP code 1 Gross distribution PAYER S federal identification number RECIPIENT S name
More informationSALLY W EMANUEL If a joint return, spouse's first name M.I. Last name Suffix Spouse's social security number
Department of the Treasury Internal Revenue Service (99) 1040 U.S. Individual Income Tax Return OMB No. 1545-0074 IRS Use Only Do not write or staple in this space. For the year Jan. 1 Dec. 31, 2011, or
More information, ending. child tax credit (1) First name Last name
Department of the Treasury Internal Revenue Service (99) 1040 U.S. Individual Income Tax Return 2016 OMB No. 1545-0074 For the year Jan. 1-Dec. 31, 2016, or other tax year beginning, ending Form Your first
More informationBob Smith Betty Smith Home address (number and street). If you have a P.O.box, see instructions. J Important!
Presidential Lakeview WA 99999 Election Campaign Note: Checking Yes will not change your tax or reduce your refund. You Spouse (See instructions.) A Do you, or your spouse if filing a joint return, want
More informationTY2018 VITA Advanced Certification Test - Study Guide
Scenario 1: Smith TY2018 VITA Advanced Certification Test - Study Guide Issue #1 Qualified Education Expenses, Taxable Scholarships (p4012 Tab J) When a taxpayer has more scholarships than Qualified Educational
More informationDepartment of the Treasury - Internal Revenue Service Intake/Interview & Quality Review Sheet
Form 13614-C (October 2018) You will need: Tax Information such as Forms W-2, 1099, 1098, 1095. Social security cards or ITIN letters for all persons on your tax return. Picture ID (such as valid driver's
More information2017 Conversion Instructions TaxACT to ATX Individual
Updated 08/27/2017 2017 Conversion Instructions TaxACT to ATX Individual TaxACT is a registered trademark of 2nd Story Software, Inc.2nd Story Software, Inc. does not sanction nor participate in this conversion
More information3. Mailing address Apt # City State ZIP code 516 FREMONT ROAD YOUR CITY YS YOUR ZIP CD
Form 13614-C (October 2014) You will need: Tax Information such as Forms W-2, 1099, 1098. Social security cards or ITIN letters for all persons on your tax return. Picture ID (such as valid driver's license)
More informationDetermining your 2016 stock plan tax requirements a step-by-step guide
Determining your 2016 stock plan tax requirements a step-by-step guide INSIDE How to use the Supplemental Form to avoid overpaying taxes Upon selling shares acquired from a nonqualified employee stock
More informationCarol's Tax Return-2016 Tax Year. Part 2. Compute income tax
Turner School of Accountancy Chapter 1 and Chapter 2 Materials Page 1 Part 1. Complete Columns F,G,H. Part 2. Compute amount of tax due or refund Complete Form 1040, page 1 & 2, and Form 1040 Schedules
More informationAdvanced Course Scenarios and Test Questions
Advanced Course Scenarios and Test Questions Directions The first four scenarios do not require you to prepare a tax return. Read the interview notes for each scenario carefully and use your training and
More informationCOVER PAGE. Filing Checklist For 2008 Tax Return Filed On Standard Forms. Prepared on: 01/13/ :55:49 am
COVER PAGE Filing Checklist For 28 Tax Return Filed On Standard Forms Prepared on: 1/13/29 12:55:49 am Return: C:\Documents and Settings\Owner.gateway\My Documents\TaxCut\Donna Harp 28 Tax Return.T8 To
More information5 Qualifying widow(er) (see instructions) 6a Yourself. If someone can claim you as a dependent, do not check box 6a...
Form 1040 Department of the Treasury Internal Revenue Service (99) US Individual Income Tax Return OMB No 1545-0074 IRS Use Only Do not write or staple in this space For the year Jan 1 Dec 31,, or other
More informationNonrefundable Credits
Nonrefundable Credits TaxSlayer Navigation: Federal Section>Deductions>Credits Menu Select for Form 1116, Foreign Tax Credit Select for Form 2441 Child Tax Credit. See Child Tax Credit Tip & Interview
More informationADVANCED CERTIFICATION STUDY GUIDE Tax Year 2018
ADVANCED CERTIFICATION STUDY GUIDE Tax Year 2018 Table of Contents ADVANCED SCENARIO 1: Aiden Smith... 1 ADVANCED SCENARIO 2: Sean Yale... 2 ADVANCED SCENARIO 3: Tom and Carol Baker... 3 ADVANCED SCENARIO
More informationEarned Income Table. Earned Income
Earned Income Table Includes Taxable wages, salaries, and tips Union strike benefits Taxable long-term disability benefits received prior to minimum retirement age Net earnings from self-employment Gross
More informationAdditional information about the printing of these specialized tax forms can be found in IRS Publications 1141, 1167, 1179, and other IRS resources.
Attention: This form is provided for informational purposes and should not be reproduced on personal computer printers by individual taxpayers for filing. The printed version of this form is designed as
More informationSee separate instructions. Your social security number RIGHT ANGLE XXX-XX-XXXX If a joint return, spouse's first name and initial
Form Department of the Treasury - Internal Revenue Service (99) 14 U.S. Individual Income Tax Return 216 OMB No. 1545-74 For the year Jan. 1-Dec. 31, 216, or other tax year beginning, 216, ending, 2 Your
More informationELIGIBLE. Earned Income Credit (EIC)
Department of the Treasury Internal Revenue Service Publication 596 Cat. No. 15173A Earned Income Credit (EIC) For use in preparing 2003 Returns?ARE YOU ELIGIBLE Look inside for... Detailed Examples Eligibility
More informationAdvanced Scenario 5: Samantha Rollins
Advanced Scenario 5: Samantha Rollins Directions Interview Notes Using the tax software, complete the tax return, including Form 1040 and all appropriate forms, schedules, or worksheets. Answer the questions
More informationIncome Tax Organizer Instructions
Income Tax Organizer Instructions Our Tax Organizer is designed to help you gather the proper tax information required to prepare your tax return. Please fill out completely all areas that pertain to you.
More informationDetermining your 2017 stock plan tax requirements a step-by-step guide
Determining your 2017 stock plan tax requirements a step-by-step guide Alert: The tax-reform legislation adopted in December 2017 does not affect the 2017 tax year or the federal tax return for 2017 that
More informationIncome Tax Organizer Instructions
Income Tax Organizer Instructions Our Tax Organizer is designed to help you gather the proper tax information required to prepare your tax return. Please fill out completely all areas that pertain to you.
More informationAppendix B Pali Rao, istockphoto
Appendix B Pali Rao, istockphoto Tax Forms (Tax forms can be obtained from the IRS website: www.irs.gov) Form 1040 U.S. Individual Income Tax Return B-2 Schedule C Profit or Loss from Business B-4 Schedule
More informationYou Spouse 1 Single. name here.. G 5 Qualifying widow(er) with dependent child
' Form 1040 U.S. Individual Income Tax Return 2014 IRS Use Only ' Do not write or staple in this space. For the year Jan 1 - Dec 31, 2014, or other tax year beginning, 2014, ending, 20 See separate instructions.
More informationH E L P F U L T I P S F O R O U T O F S C O P E T O P I C S O N T H E I R S A D V A N C E D C E R T I F I C A T I O N E X A M
H E L P F U L T I P S F O R O U T O F S C O P E T O P I C S O N T H E 2 0 1 7 I R S A D V A N C E D C E R T I F I C A T I O N E X A M OUT OF S COPE FOR S AV EFIRST INTERMEDIATE VOLUNTEERS AT TAX PR EPAR
More informationANNUAL INFORMATION RETURNS NEWSLETTER
ANNUAL INFORMATION RETURNS NEWSLETTER J A N U A R Y 2 0 1 9 INSIDE THIS ISSUE: F O R M W - 2 Form W-2 1 Foreign Bank Account Reporting Foreign Bank Account Reporting Household Employee (Nanny Tax) Form
More informationWelcome & Happy New Year Refresher Training 5-8 Jan 2016 Part 2
Welcome & Happy New Year Refresher Training 5-8 Jan 2016 Part 2 1 Review of Tax Laws and TaxWise Use 2 Elements of Fed 1040 & MA Form 1 Tax Returns Taxpayer information (incl health ins.) Dependents Filing
More informationForm CT-1040X Amended Connecticut Income Tax Return for Individuals
Department of Revenue Services State of Connecticut (Rev. 12/13) Print type in blue black ink. On iginal return: Fm CT-1040X Amended Connecticut Income Tax Return f Individuals Single Head of household
More informationAdvanced Scenario Tax Year 2018 Interview Notes
Advanced Training Tax Year 2018 Advanced Scenario Tax Year 2018 Interview Notes Charles and Louise Monroe are married and want to file a joint return. They have permanent custody of their granddaughter
More informationCertain Cash Contributions for Typhoon Haiyan Relief Efforts in the Philippines Can Be Deducted on Your 2013 Tax Return
Certain Cash Contributions for Typhoon Haiyan Relief Efforts in the Philippines Can Be Deducted on Your 2013 Tax Return A new law allows you to choose to deduct certain charitable contributions of money
More information5 Qualifying widow(er) with dependent child 6a Yourself. If someone can claim you as a dependent, do not check box 6a...
Form 040 Department of the Treasury Internal Revenue Service (99) U.S. Individual Income Tax Return 204 OMB No. 545-0074 IRS Use Only Do not write or staple in this space. 0/0 0/0 4 For the year Jan. Dec.
More informationDetermining your 2017 stock plan tax requirements a step-by-step guide
Determining your 2017 stock plan tax requirements a step-by-step guide Alert: The tax-reform legislation adopted in December 2017 does not affect the 2017 tax year or the federal tax return for 2017 that
More informationDUAL-STATUS RETURN U.S. Nonresident Alien Income Tax Return LEE F DUT X. MN Foreign province/county
DUAL-STATUS RETURN U.S. Nonresident Alien Income Tax Return OMB No. 1545-0074 For the year January 1-December 31, 2011, or other tax year Department of the Treasury Internal Revenue Service beginning,
More informationAttention: See IRS Publications 1141, 1167, 1179 and other IRS resources for information about printing these tax forms.
Attention: This form is provided for informational purposes only. Copy A appears in red, similar to the official IRS form. Do not file copy A downloaded from this website. The official printed version
More information2014 Conversion Instructions UltraTax 1040 to TaxWise
2014 Conversion Instructions UltraTax 1040 to TaxWise Important Notice Please Read!!! The data contained in these returns is minimal and contains ONLY the items needed to pass through to the 2014 return.
More informationSCHEDULE C AUDIT RISKS
7/15/2017 SCHEDULE C AUDIT RISKS C. FORREST DAVIS, E.A. A LOOK AT TAX RETURNS (2014) 148.6M individual returns 63.7M Form 1040A and EZ 84.9M Form 1040 27.6M Schedule C or C-EZ 22.6M Schedule C 5.0M Sch
More informationTaxpayer Questionnaire
First : Last : Taxpayer Questionnaire PERSONAL INFORMATION Primary Taxpayer M.I.: S.S.N. : Birthdate: Taxpayer's PIN: Home Phone: Work Phone: Cell Phone: Occupation: Email Address: Dependent on another
More informationFiling status: Single Married filing jointly Married filing separately Head of household Qualifying widow(er)
-Internal Revenue Service (99) 1040 U.S. Individual Income Tax Return 018 IRS Use Only-Do not write or staple in this space. Filing status: Single Married filing jointly Married filing separately Head
More informationIRS e-file Signature Authorization
Form 8879 Department of the Treasury Internal Revenue Service IRS e-file Signature Authorization Don't send to the IRS. This isn't a tax return. Keep this form for your records. Information about Form
More informationU.S. Nonresident Alien Income Tax Return. Of what country were you a citizen or national during the tax year?
1040NR U.S. nresident Alien Income Tax Return OMB. 1545-0089 2002 Form For the year January 1 December 31, 2002, or other tax year Department of the Treasury Internal Revenue Service beginning, 2002, and
More information1040 Department of the Treasury Internal Revenue Service (99)
1040 Department of the Treasury Internal Revenue Service (99) U.S. Individual Income Tax Return OMB No. 1545-0074 IRS Use Only Do not write or staple in this space. For the year Jan. 1 Dec. 31, 2016, or
More informationYour first name and initial Last name Your social security number
Form 1040 Internal Revenue Service (99) U.S. Individual Income Tax Return OMB. 1545-0074 IRS Use Only Do not write or staple in this space. Filing status: Single Married filing jointly Married filing separately
More informationBasic Certification Test: Study Guide for Tax Year 2017
Basic Certification Test: Study Guide for Tax Year 2017 TRAINING PRACTICE PROBLEMS 2018 i The items in parentheses refer to sections or page numbers in Publication 4012, Volunteer Resource Guide. It s
More informationEITC Due Diligence i
EITC Due Diligence i ALL RIGHTS RESERVED. NO PART OF THIS COURSE MAY BE REPRODUCED IN ANY FORM OR BY ANY MEANS WITHOUT THE WRITTEN PERMISSION OF THE COPYRIGHT HOLDER. All materials relating to this course
More informationIf a joint return, spouse s first name and initial Last name Spouse s social security number
Form Department of the Treasury Internal Revenue Service 1040A U.S. Individual Income Tax Return (99) 2016 Your first name and initial Last name IRS Use Only Do not write or staple in this space. OMB No.
More informationAttention: See IRS Publications 1141, 1167, 1179 and other IRS resources for information about printing these tax forms.
Attention: This form is provided for informational purposes only. Copy A appears in red, similar to the official IRS form. Do not file copy A downloaded from this website. The official printed version
More informationSection 1202 Qualified Small Business Stock: Maximizing Tax Advantages of Gain Exclusion and Deferral
Section 1202 Qualified Small Business Stock: Maximizing Tax Advantages of Gain Exclusion and Deferral THURSDAY, AUGUST 27, 2015, 1:00-2:50 pm Eastern IMPORTANT INFORMATION This program is approved for
More informationEarned Income Table. Earned Income for EIC, Additional Child Tax Credit and Dependent Care Credit. Common EIC Filing Errors
Earned Income Table Includes Taxable wages, salaries, and tips Union strike benefits Taxable long-term disability benefits received prior to minimum retirement age Net earnings from selfemployment Gross
More information2015 Client Organizer
Prepared By: Davis & Associates, CPA 425 Creekstone Rdg Woodstock, GA 30188-3746 Prepared For: 2015 Client Organizer From: To: Davis & Associates, CPA 425 Creekstone Rdg Woodstock, GA 30188-3746 2015 Client
More informationFederal Income Taxes. Today s Approach. Your Tax Knowledge. Process. Process Continued. Filing Requirements. Fall 2014 VITA Training
Federal Income Taxes Fall 2014 VITA Training Dr. Cathy Bowen Dr. Barbara Yener Today s Approach Use Form 1040 and common tax forms to discuss key areas of completing a tax return for VITA taxpayers. Not
More informationFile by Mail Instructions for your 2017 Federal Tax Return Important: Your taxes are not finished until all required steps are completed.
File by Mail Instructions for your 2017 Federal Tax Return Important: Your taxes are not finished until all required steps are completed. calvin & kerty L Satur 1651 Deer Run Dr. Burlington, KY 41005 Balance
More informationCHAPTER 2 GROSS INCOME AND EXCLUSIONS
Solutions for Questions and Problems Chapter 2 39 CHAPTER 2 GROSS INCOME AND ECLUSIONS Group 1 - Multiple Choice Questions 1. C (Section 2.1) 8. C (Section 2.6) 2. C (Section 2.1) 9. B (Section 2.7) 3.
More informationU.S. Nonresident Alien Income Tax Return
Form 1040NR Department of the Treasury Internal Revenue Service U.S. Nonresident Alien Income Tax Return Information about Form 1040NR and its separate instructions is at www.irs.gov/form1040nr. For the
More informationMARIE EXTENDED QUINCY & THOMAS MORRISON 3300 BOWIE DR EUGENE, OR INCOME TAX RETURN
MARIE EXTENDED QUINCY & THOMAS MORRISON 3300 BOWIE DR EUGENE, OR 97401 2017 INCOME TAX RETURN PRACTICE LAB 15 PRACTICE LAB WAY WASHINGTON DC 20005 (202) 202-2022 MARIE EXTENDED A QUINCY & THOMAS MORRISON
More information