New York/Connecticut Association of Tax Professionals | Frank Vassallo | Activity https://www.nyctatp.org/members/frankvassallo/activity/ Activity feed for Frank Vassallo. Sat, 02 May 2026 03:04:05 -0400 https://buddypress.org/?v= en-US 30 hourly 2 d92db2d5bf5e5aacd7332dea0135024f Frank Vassallo started the topic Client won car in sweepstakes in the forum Tax Discussion https://www.nyctatp.org/forums/topic/client-won-car-in-sweepstakes/ Tue, 24 Nov 2020 18:37:48 -0500 Client won a 2014 Audi in 2020. Will be receiving a Form 1099-Misc. Value of the car
$30,000. Client will also receive a check for $4,000 for taxes. Client read online that since she won though a sweepstakes, she is responsible for 1/3 of the value of the car for New York State sales taxes purposes. On her personal US & NYS 2020 returns,…Read more

]]> 1127e9433b91ce85c800f21bd6a281a8 Frank Vassallo started the topic NYS and Ct Transcript in the forum Tax Discussion https://www.nyctatp.org/forums/topic/nys-and-ct-transcript/ Tue, 08 Sep 2020 17:54:05 -0400 Have a client that can not get a copy of his 2019 W-2. Employer went out of business, according to my client and he can not get in touch with them. The employee on line account for payroll purposes has been disconnected. Client got their own 2019 IRS transcript that shows the Federal W-2 amounts but no NYS or CT. Has anyone been able to call…Read more

]]> 412f4a51a0ca27b3ee93d5512e853e57 Frank Vassallo replied to the topic NYS OLD TAX RETURNS in the forum Tax Discussion https://www.nyctatp.org/forums/topic/nys-old-tax-returns/#post-14204 Wed, 29 Apr 2020 15:32:37 -0400 Tom,

Thanks for the info. But what about the 2 old years (2015 & 2016) of NYS returns that I can not e file. Will NYS hit me with the $50 penalty for paper returns for each year?

Thanks again.

Frank Vassallo

]]> 82c262d8bc946125d3fc9683fd14f17f Frank Vassallo started the topic NYS OLD TAX RETURNS in the forum Tax Discussion https://www.nyctatp.org/forums/topic/nys-old-tax-returns/ Tue, 28 Apr 2020 15:43:54 -0400 I Know can file old returns going back three (3) years with our software, but how about beyond that?

I have a new client (daughter of an existing client) in which we have to prepare 5 years worth of returns, as per IRS request. I know I can e file 2019, 2018 and 2017. I can mail in the Federal to the IRS for 2016 and 2015.

But what about New…Read more

]]> 6b5019d68894c8fc3e6dc5dcef82d682 Frank Vassallo replied to the topic NYS EXTENSION DEADLINE in the forum Tax Discussion https://www.nyctatp.org/forums/topic/nys-extension-deadline/#post-14094 Wed, 25 Mar 2020 22:23:08 -0400 Thanks. Tom

]]> c908a20735e18c1d2af32db2e12fd2fc Frank Vassallo started the topic NYS EXTENSION DEADLINE in the forum Tax Discussion https://www.nyctatp.org/forums/topic/nys-extension-deadline/ Wed, 25 Mar 2020 21:40:59 -0400 Ok we all know the Federal extension is now 7/15/20.

Emmet stated above that Ct is extending the deadline for the personal income tax returns to 7/15/20.

Does anyone know what NYS is doing. Following the IRS & CT? Could not find anything on this on the websites. If you know, please advise and send info so I can show my clients.
Thanks. Frank…Read more

]]> d21c67ed825be08ec0923b2897c11594 Frank Vassallo replied to the topic FILING DEADLINE NOW JULY 15, 2020 in the forum Tax Discussion https://www.nyctatp.org/forums/topic/filing-deadline-now-july-15-2020/#post-14091 Wed, 25 Mar 2020 20:38:22 -0400 Ok we all know the Federal extension is now 7/15/20.

Emmet stated above that Ct is extending the deadline for the personal income tax returns to 7/15/20.

Does anyone know what NYS is doing. Following the IRS & CT? Could not find anything on this on the websites. If you know, please advise and send info so I can show my clients.
Thanks.…Read more

]]> 1576c643af22e229d1d6d49718611bd2 Frank Vassallo started the topic Taxpayer withdrew 2 years of 529 monies in the same year in the forum Tax Discussion https://www.nyctatp.org/forums/topic/taxpayer-withdrew-2-years-of-529-monies-in-the-same-year/ Wed, 26 Feb 2020 19:07:26 -0500 Thank you all for your responses to my previous question re: NYS deductibility of the PMI.

New question: Clients took out withdrawal from daughter’s 529 plan to cover her tuition for the Fall semester of 2019 & Spring semester of 2020. Only problem is the college only included on the Form 1098-T the amount paid for the Fall semester of 2019.…Read more

]]> 8f8ed5104b12653c111e90690ec45bf9 Frank Vassallo started the topic Mortgage Insurance premiums (PMI) in the forum Tax Discussion https://www.nyctatp.org/forums/topic/mortgage-insurance-premiums-pmi/ Wed, 19 Feb 2020 17:34:53 -0500 NYS is allowing PMI on the NYS returns. NYS instructions are not that clear. They say if you claimed an itemized deduction for mortgage insurance premiums on your Federal income tax return, enter the amount from Federal Schedule A, line 8d ( on the NYS return)

IF you did not claim an itemized deduction for mortgage insurance premiums on your…Read more

]]> 6bef8bd077992224fa648c85b8ff15a1 Frank Vassallo started the topic E Filing all down for 2018 (& 2017) in the forum Tax Discussion https://www.nyctatp.org/forums/topic/e-filing-all-down-for-2018-2017/ Mon, 25 Nov 2019 20:06:38 -0500 I know the IRS is not accepting e-filed 2018 (& 2017) returns, but how about the states: namely New York & Connecticut??? Anybody have any experience with these two states. I called Drake and they stated the not only is the IRS shut down, but also NY & CT. Thanks.

]]> 54119905e15028e5fb3a8b2ceab851e9 Frank Vassallo started the topic Historic stock price(s) in the forum Tax Discussion https://www.nyctatp.org/forums/topic/historic-stock-prices/ Fri, 28 Jun 2019 15:35:20 -0400 Does anyone have a good website to obtain either historic prices or the average price by year? I have a client that is 99 years old. Husband invested in Boeing Co. common stock starting about 60 years ago. I looked at Bigcharts, nasdaq, stocktools, stockmaster with little help.

I like to thanks Emmet and the association for all you done for…Read more

]]> 0477c593d2f29d3cfe4101c4f0285317 Frank Vassallo started the topic Form 2553, Election by a Small Business Corporation respones from IRS in the forum Tax Discussion https://www.nyctatp.org/forums/topic/form-2553-election-by-a-small-business-corporation-respones-from-irs/ Tue, 04 Jun 2019 19:27:00 -0400 Has anyone had a experience with the IRS Form 2553 when you had filed pursuant to Rev. Proc. 2013-30. I filed on behalf of my client on April 10, 2019. I faxed the 2553 to the number given in the instructions: 1-855-270-4081. I have the fax confirmation receipt. How long does this normal take? Any one else had the same problem. Is there a…Read more

]]> 22020c7751b3449c53537e4607e092bb Frank Vassallo started the topic FORM 8283 60% AGI LIMITATION in the forum Tax Discussion https://www.nyctatp.org/forums/topic/form-8283-60-agi-limitation/ Fri, 15 Mar 2019 21:03:06 -0400 HAVE A CLIENT WHO GIVES A GREAT DEAL OF JEWELRY TO A NOT FOR PROFIT ORGANIZATION. THE AMOUNT IS IN EXCESS OF THE NEW 60% AGI LIMITATION. ACCORDING TO DRAKE SOFTWARE, THE RETURN IN NOT ELIGIBLE FOR E-FILE UNTIL THE IRS RELEASES AN UPDATE TO THE “DEDUCTION LIMITS FOR CHARITABLE CONTRIBUTIONS” WORKSHEET IN PUBLICATION 526. HAS ANYONE ELSE HAD THE…Read more

]]> 06bd57edc1160bcf3a9cba127bd0af85 Frank Vassallo started the topic 1040 Refunds, ID's & NYS 2106 in the forum Tax Discussion https://www.nyctatp.org/forums/topic/1040-refunds-ids-nys-2106/ Tue, 05 Feb 2019 23:59:16 -0500 Done about 50 1040’s so far. On the most part, the Federal refunds are down over last year. W-2 Federal withholding is down over last years withholding with about the same W-2 wages. Looks like when the IRS re-issued the new tax tables, they lowered the withholding to include the new tax act. Anybody else seeing the same trend?
The new…Read more

]]> 63d7702985ae3e99adf6d8e2bf754b8f Frank Vassallo started the topic Client needs full charge bookkeeper in the forum Tax Discussion https://www.nyctatp.org/forums/topic/client-needs-full-charge-bookkeeper/ Tue, 29 Jan 2019 00:49:07 -0500 One of my constructions clients needs an full time experienced full charged bookkeeper. Office is located in Pelham, NY. Compensation based on experience. If you know of any qualified applicants please have them send their resume to my e-mail address at dawnvass@aol.com.

Thank you

Frank Vassallo

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