2-19-2021 Update and more
Preseason Workshop Recording- What's new--security measures, procedures, expectations, software updates, new forms and tax laws. From Saturday 1/16/21 workshop
Taxslayer Updates 12-28-2020 : Form 1099-NEC has now been added to Taxslayer and 1099-Misc has been updated. This will help with Advanced scenario #8.   
Economic Impact Payments (Stimulus payments-also known as Recovery Rebate Credit in Taxslayer) has now been added to Taxslayer in the Basic Information Menu
Schedule LEP- which allows the client to request all future communication from the IRS to come in a language other than English has been added to Taxslayer. It DOES NOT change the language of the tax return. This language preference can be selected on the screen where the client's demographic information is entered.
TAX ALERT- Released 11-20-20 about Certification Site and Practice Lab--Please Read
Just made--I think it will be helpful at sites, a screening tool for the self-employed credits for sick leave and family leave. I made this after reviewing Form 7202; more info can be found in PUB 4012 page H-9. It may need to be revised as I learn more and once its updated in Taxslayer
Study Guides, videos and other tools have been updated for 2020 under the "Certification" page 
My attempt to explain how Adjustments, Non-refundable, and Refundable Credits affect a return-let me know if this makes sense
 IMPORTANT CHANGES FOR 2020:  Click on image to read 
Testing Site is partially Updated for 2020
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Every Wednesday from 5-7pm EST you can drop in for help at my Zoom Drop-In Meeting https://us02web.zoom.us/j/87018838952?pwd=Y0FvOEprT1ZBY1pVQTFqajVabWlPdz09 Questions about the program, software, certification and more are welcome. (want help sooner--just email me at maryvitataxes@gmail.com)
  • Practice Lab is up and running but not completely updated yet. Here are some tips:
    • Don’t look at the summary print page—it is set for 2019
    • You can print/view the completed return  you entered on a 2020 tax return form by closing it and viewing it on the Client Search screen (printer icon) OR from the very last screen in the e-file section that has the Ready for Review check box
    • To waive a 10% penalty from a retirement withdraw due to COVID—Once Taxslayer is updated –there is a Form that will be added, Form 8915-E, that will be used to waive the penalty. For now, as a work around, you can add form 5329 to the return and select “Other” for a reason code--Again, this is just a work-around and NOT how it will be done during tax season​
  • Qualified Medical expenses now cover over-the-counter medicine
  • VITA-Train, from Prosperity Now, has been updated. A great resource to learn tax law and what VITA covers. There are 12 Modules plus information on what’s new. They even have practice returns and quizzes. VITA-Train can be found here: https://prosperitynow.org/vita-train
As always, feel free to reach out if you have any questions, anytime. Stay well.
​Spotlight: Alternative Tax Prep Options Page Live!
In light of the many VITA/TCE site closures, the Taxpayer Opportunity Network created the Alternative Tax Prep Options page to help create a single hub of tools and resources to help expand your program service beyond face-to-face interaction. This living resource page includes topics such as drop-off, facilitated self-assistance, and virtual options including virtual intake and presentations from our field experts. These resources also include implementation guides for your programs and a FSA portal for your clients to file directly. 
As a living resource page, the Taxpayer Opportunity Network team will be working diligently to update it with the most up-to-date resources as they become available. With the formalization of the stimulus package and the taxpayers at its center, the community tax preparation field will be vital to ensure the financial stability for low- and moderate-income taxpayers. Please check out our page and stay tuned to our mailings for updates! 
Check Out MODULE 12 on the VITA Train for more updates from Prosperity Now
VITA Train
Greeter/Intake

You may want to sign up for: 

VITA Blog-- know when there are updates, system crashes, restarts, etc. Enter your email address on the right of the screen that opens: I Strongly suggest signing up for this one
 https://vitablog.taxslayerpro.com/2019/08/19/release-notes-tuesday-august-20th-at-500am-et/

 Jonlyn & Associates Inc, CPA's - monthly newsletter this always has something helpful--explains things in an easy to understand language https://www.jonlyn.com/ sign up on the left side of the screen--scroll down to find Newsletter sign up FANTABULOUS!!
Check out the Coordinator Page--New Refund Slips Added!!
1099-MISC from Ford, GMC, etc
We have seen a lot of these in the 2018 tax season for the first time.  This confuses people on how to enter. Towards the end of season we had clients come in with these who had even received letters on how it should be entered on the tax return.
No, you don't need a Schedule C--simply add it to "Other Income-not reported elsewhere"  and call it Ford Legal Trust or GMC Legal Trust...

Form 1099-K

New 1099-NEC
For Self-Employed
Power of Attorney
​OR Deceased Client
Gambling Loss
Rental Income of less than 15 days


​Considered by IRS Minimal Rental Use
There's a special rule if you use a dwelling unit as a residence and rent it for fewer than 15 days. In this case, don't report any of the rental income and don't deduct any expenses as rental expenses.
Statute of LImitations (from IRs.gov https://www.irs.gov/taxtopics/tc153) 
  • There's no penalty for failure to file if you're due a refund. However, you risk losing a refund altogether if you file a return or otherwise claim a refund after the statute of limitations has expired. An original return claiming a refund must be filed within 3 years of its due date for a refund to be allowed in most instances. After the expiration of the three-year period, the refund statute prevents the issuance of a refund check and the application of any credits, including overpayments of estimated or withholding taxes, to other tax years that are underpaid. However, the statute of limitations for the IRS to assess and collect any outstanding balances doesn't start until a return has been filed. In other words, there's no statute of limitations for assessing and collecting the tax if no return has been filed.
Mortgage Credit Certificate (MCCC)
I started seeing this 2 years ago, we had 3 people walk in talking about it, here is a How-To
Are you getting the Primary Client Email is not a valid email error over and over again? Isn't it driving  you crazy? Well, the software "thinks" the email field is a username field--so it is auto-populating with a username that has been saved on that computer. 
Look at the image below for reference--delete what has auto-populated and click on the key that is in the address bar and you can tell the system to stop saving passwords for that site.

**I have found the best way to stop this is from the actual sign in screen to Taxslayer--do not let it save your log in information--from the log in screen click the key icon and delete username
Picture

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1099-LTC Click on the image below to see How to Enter 1099-LTC Income Statement on return
QCD (Qualified Charitable Distribution) from IRA as part of a RMD (Required Minimum Distribution)  Click on the image to learn more
Here’s the 411 on who can deduct car expenses on their tax returns. Employees who use their car for work can no longer take an employee business expense deduction as part of their miscellaneous itemized deductions reported on Schedule A.  Employees can’t deduct this cost even if their employer doesn’t reimburse the employee for using their own car. This is for tax years after December 2017. The Tax Cuts and Jobs Act suspended miscellaneous itemized deductions subject to the 2% floor.  
However, certain taxpayers may still deduct unreimbursed employee travel expenses, this includes Armed Forces reservists, qualified performing artists, and fee-basis state or local government officials.

Click link above to learn more.


To e-file a return that has no taxable income (AGI $0; e.g., client has Social Security Income only) enter $1 on Line 21 Other Income and describe as “IN ORDER TO EFILE.” This will allow the return to be e-filed. Some people prefer to file to make sure their SSN isn't being used fraudulently and some have to file for other reasons. If the client has Marketplace or First Time Homebuyer's Credit, you do not need to enter the $1 as the other forms entered will allow the e-file to transmit successfully.
How To's and What's New:
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You can contact me at maryvitataxes@gmail.com 
Please note: I, Mary Meador, AM NOT a certified accountant or tax law expert. I volunteer with VITA providing free tax preparation for individuals and families whose income is less than $66,000 a year. We deal with simple returns at our sites.  I cannot guarantee the accuracy of all the information on this site as tax laws change and I may not have a clear understanding of complicated issues. I am trying to provide basic tax preparation information for our volunteers to get started--remember Publication 4012 is your go-to resource for questions, as well as irs.gov and Publication 17. ​