New York/Connecticut Association of Tax Professionals | Lawrence Kalkstein | Activity https://www.nyctatp.org/members/lawrencekalkstein/activity/ Activity feed for Lawrence Kalkstein. Sat, 02 May 2026 03:04:05 -0400 https://buddypress.org/?v= en-US 30 hourly 2 1ba0fdaecbacade2733d6bcd05d7d9cc Lawrence Kalkstein replied to the topic Paying back SS benefits in the forum Tax Discussion https://www.nyctatp.org/forums/topic/paying-back-ss-benefits/#post-19065 Tue, 11 Jul 2023 20:02:01 -0400 Yes she can Amend. Your supposed to out benefits. See IRS Publ 915

]]> d580dccf12ae1b871dd0838a0400ce16 Lawrence Kalkstein started the topic ERTC refunds in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ertc-refunds/ Tue, 21 Feb 2023 18:59:06 -0500 Does anyone have a link or phone# for IRS to get the ERTC refunds status please?

Larry Kalkstein

]]> 9c6aa69d1e566ed2104914010fbe4cc9 Lawrence Kalkstein replied to the topic tax season help in the forum Tax Discussion https://www.nyctatp.org/forums/topic/tax-season-help/#post-18109 Sat, 12 Nov 2022 16:59:50 -0500 Yes, would train. General computer skills. Basically, it would inputting tax docs via Intuit’s scanning processing. Then match the tax data to the excel sheet I do up for each client. She would have to match the tax line # etc and cross reference to excel.

And yes, would show her QB. She would download and map transactions. Most download data…Read more

]]> 86861ee197bc1f7cba8ad1b8e300905b Lawrence Kalkstein replied to the topic tax season help in the forum Tax Discussion https://www.nyctatp.org/forums/topic/tax-season-help/#post-18106 Sat, 12 Nov 2022 14:22:07 -0500 Yes, remote is preferred.

Larry

]]> e3dd9f3d56117ff0bcca611f2a245d4d Lawrence Kalkstein started the topic tax season help in the forum Tax Discussion https://www.nyctatp.org/forums/topic/tax-season-help/ Sat, 12 Nov 2022 14:04:13 -0500 If anyone knows someone interested in scanning/inputting tax data on Intuit Tax Online during tax season and handling client Quickbooks downloading etc please contact me. Pay is $30 to $40 p/h
Thanks
Larry

]]> 051c30bee96c5c67a156df5fa80996d6 Lawrence Kalkstein started the topic C corp NOL in 2020 in the forum Tax Discussion https://www.nyctatp.org/forums/topic/c-corp-nol-in-2020/ Tue, 24 May 2022 00:07:46 -0400 Client (C corp) has 2020 NOL. Carryback 5 years but 2015 thru 2017 client was S corp. So after carrying back to 2015 I carried forward to 2018 to recoup C corp tax.. IRS seems to deny this. But for 2015 can not recoup tax as S corp. What did Congress intend here:
1. carry forward till you get to a C corp year
2. have S corp shareholders in 2015 do a 1040X?

]]> eb495c53748a1a525419e348eeee8b94 Lawrence Kalkstein replied to the topic Sales tax from a NYS client in the forum Tax Discussion https://www.nyctatp.org/forums/topic/sales-tax-from-a-nys-client/#post-16695 Mon, 07 Feb 2022 18:50:20 -0500 Use the Wayfair v s. Dakota standard. If no more than 200 transactions and $100k in sales then no jurisdiction/sufficient nexus to compel sales tax filing unless have physical presence, directly or thru agents, in those states.

]]> 9e1bb60d5788d5d96a5942d437f690f5 Lawrence Kalkstein replied to the topic Still waiting for refund in the forum Tax Discussion https://www.nyctatp.org/forums/topic/still-waiting-for-refund/#post-16464 Fri, 10 Dec 2021 16:40:46 -0500 I use form 911-Taxpayer Advocate. It takes about 2-3 weeks for an Advocate to be assigned and they fight for you form the inside-albeit not at a super fast pace

]]> 8c9152cbd5e8487e9b099fe988cea56b Lawrence Kalkstein replied to the topic looking for New York tax preparer in the forum Tax Discussion https://www.nyctatp.org/forums/topic/looking-for-new-york-tax-preparer/#post-16265 Thu, 18 Nov 2021 17:05:23 -0500 I have a few restaurant clients in northern Westchester and NY city. I have them all on QuickBooks. Then I handle all those taxes you set forth.

]]> cef2ddab0d548ab63ef50e01f20ef853 Lawrence Kalkstein replied to the topic NY State Entity level tax in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ny-state-entity-level-tax/#post-15691 Fri, 27 Aug 2021 13:23:46 -0400 The NY site is not ready to accept these entity (PTET) payments. They will not be ready until 12-15-2021. You will not be assessed any late fees for 2021. 

]]> 48f039daaad4bb34e8ceab2a44957e2f Lawrence Kalkstein replied to the topic NY State Entity level tax in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ny-state-entity-level-tax/#post-15687 Wed, 25 Aug 2021 18:51:08 -0400 As an update to the PTET election;
Once logged in click the menu tab at upper left:
1. LLC or Partnership would scroll to Partnership Tax. Click it. Then see tab for PTET.
2. Yu will then see the PTET election
3. An S corporation would scroll to Corporation Tax. Click it. Then see tab for PTET.
2. You will then see the PTET election

]]> 8b0b756d377e5a8061ce972081c720df Lawrence Kalkstein replied to the topic NY State Entity level tax in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ny-state-entity-level-tax/#post-15684 Wed, 25 Aug 2021 17:40:05 -0400 NY Tax Dept has finally issued guidance for S corporations and Partnerships/LLC’s wanting to pay the NY tax at the entity level to avoid the $10k Schedule A, form 1040 limit.

Please see https://www.tax.ny.gov/pdf/memos/ptet/m21-1c-1i.pdf. In summation the entity:
1. must create an online account with NY State
2. make the election at the PTET link…Read more

]]> c7239bc677d51bdca1133ddec2dc5421 Lawrence Kalkstein replied to the topic NY State Entity level tax in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ny-state-entity-level-tax/#post-15671 Mon, 09 Aug 2021 21:45:14 -0400 Spoke with another agent today. Still no guidance from Albany on the new Article 24-A. They are aware that an election for 2021 needs to be made by 10-15-2021. They took my email & cell# so hopefully i hear soon.

]]> fdb2d59b0417946c7077ea58ea6bbba2 Lawrence Kalkstein replied to the topic Confused over state taxation after move in the forum Tax Discussion https://www.nyctatp.org/forums/topic/confused-over-state-taxation-after-move/#post-15627 Wed, 21 Jul 2021 18:27:28 -0400 The 1st thing I do in these situations is contact the employer and get wages straightened out. unless there’s taxation differences you have about $62k in duplicate wages when adding the 2 states as compared to federal wages.

Larry

]]> 663131d4c322f9f678d10169af9aef09 Lawrence Kalkstein replied to the topic NY State Entity level tax in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ny-state-entity-level-tax/#post-15585 Mon, 28 Jun 2021 18:38:57 -0400 Spoke with a NY Tax Agent. He researched the new law. Stated that hopefully NY State will soon issue guidance as to how to make the election. I highlighted the law that requires the election to be made by 10-15-2021

]]> cfb274af6d3aa14d0890a9bd4ef363ac Lawrence Kalkstein started the topic NY State Entity level tax in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ny-state-entity-level-tax/ Sat, 26 Jun 2021 10:57:18 -0400 Looking for the procedure to make election under Article 24-A. This allows an S corp or LLC etc to pay Entity Level Tax and avoid the IRS $10k SALT limit.

I read the law and for 2021 the flow thru entity has until 10-15-2021 to elect to pay the tax at the S corp or LLC etc level and then take a personal tax credit on their NY persoanl return. But…Read more

]]> a7d89514c8006267023487998ddb282a Lawrence Kalkstein started the topic 2020 C corp loss-used to be S corp in the forum Tax Discussion https://www.nyctatp.org/forums/topic/2020-c-corp-loss-used-to-be-s-corp/ Fri, 28 May 2021 21:03:31 -0400 The CARES Act requires 2020 C corp losses to 1st get carried back five years (2015). But 5 years ago Taxpayer was S corp. Cannot find literature to support to carry back C corp loss of 2020 to the short year in 2017 (last 7 months of 2017 entity was a C corp).

Does Taxpayer still need to carry 2020 NOL to 2015-show that it can not be used on…Read more

]]> a20c6f26ba0fc859811e3ceac37b8599 Lawrence Kalkstein replied to the topic Replaced RMD taken in Jan 2020, replaced prior to August 31, 2020 in the forum Tax Discussion https://www.nyctatp.org/forums/topic/replaced-rmd-taken-in-jan-2020-replaced-prior-to-august-31-2020/#post-15469 Sun, 28 Mar 2021 12:02:39 -0400 I had this issue a few times (pre Covid though). I entered proper code, usually “3” where broker put “1”. We had all documents in event IRS rebutted. But IRS never made any inquiry. So I would put the code that SHOULLD BE, and keep the documentation handy to support your position.

]]> a85eabe1b7569ebff11a94710cd6077a Lawrence Kalkstein replied to the topic How to move 1099-S income to another tax payer's return? in the forum Tax Discussion https://www.nyctatp.org/forums/topic/how-to-move-1099-s-income-to-another-tax-payers-return/#post-15454 Wed, 24 Mar 2021 01:20:25 -0400 I just put it on 8949 with equal basis and code it Sale of Home. So IRS computers match proceeds to the Sch D/8949. If ever questioned you have the backup. But I never had IRS question that method.

Larry

]]> 5d391405f817dbb8a179f0555074bab3 Lawrence Kalkstein replied to the topic Unemployment- $ 10,200 exclusion on NYS? in the forum Tax Discussion https://www.nyctatp.org/forums/topic/unemployment-10200-exclusion-on-nys/#post-15450 Fri, 19 Mar 2021 14:30:11 -0400 NY starts with Federal AGI. They would need to pass legislation to DeCouple like they did with the $300 Charity etc. So it would appear “Silence is Golden”

]]> e54b12f8fdc89efa0c6653b80a2fa3f8 Lawrence Kalkstein replied to the topic PPP Loan Forgivenesa for Self Employed in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ppp-loan-forgivenesa-for-self-employed/#post-15340 Mon, 25 Jan 2021 22:45:49 -0500 Robert
You need to apply for Forgiveness. Banks will be issuing the new easier version of Forgiveness in early February which eliminates most supporting documentation. Supposed to just be an Affidavit of Compliance with SBA rules

]]> de0b3b174dbd23a5705653e7cf51ce48 Lawrence Kalkstein replied to the topic Estate-Trust attorney in the forum Tax Discussion https://www.nyctatp.org/forums/topic/estate-trust-attorney/#post-15329 Thu, 21 Jan 2021 16:52:12 -0500 Thanks tom

]]> 149970a3d011d5a92412f11e1b45a3ad Lawrence Kalkstein replied to the topic Medicare supplement specialist? in the forum Tax Discussion https://www.nyctatp.org/forums/topic/medicare-supplement-specialist/#post-15325 Tue, 19 Jan 2021 03:14:47 -0500 Hi Kristin

No agent but my wife & I use United Health Care Medicare Supplement.

Larry

]]> 7eb6b00a2e59b99d03c5e44e2c359ed6 Lawrence Kalkstein started the topic Estate-Trust attorney in the forum Tax Discussion https://www.nyctatp.org/forums/topic/estate-trust-attorney/ Mon, 18 Jan 2021 13:20:59 -0500 Anyone remember full name of the attorney who presented seminar a year or so ago and his contact info. John Nassie or something. Have client who my need his services.

Thanks

Larry

]]> 5ec31434711bf2ddfcf10173ec29eac9 Lawrence Kalkstein started the topic Transfer Pricing Policy-Hungarian Corporation in the forum Tax Discussion https://www.nyctatp.org/forums/topic/transfer-pricing-policy-hungarian-corporation/ Tue, 29 Dec 2020 03:35:58 -0500 I have a client that is formed in Hungary and in U.S. They need someone to advise and write a
Transfer Pricing Policy.

If interested or have a referral please advise.

Larry Kalkstein

]]> 04dfa01a59173019f3e1c6436d087f6b Lawrence Kalkstein replied to the topic Non Resident Aliens (NRA) in the forum Tax Discussion https://www.nyctatp.org/forums/topic/non-resident-aliens-nra/#post-15190 Sun, 20 Dec 2020 15:07:36 -0500 Thanks Rita. My issue is that my client is still in US, way past 243 days so when subtracting 60 from that count she is well over 183. In reading Rev Proc 2020-20 it has no date stated thereon so not sure if the IRS intends to update this and expand the 60 day exclusion.

I did call one of the authors in DC on this and hopefully she will call me…Read more

]]> d5e454939ecebe5e090bdf9fd63ac0f5 Lawrence Kalkstein changed their profile picture https://www.nyctatp.org/activity/p/1753/ Fri, 18 Dec 2020 19:22:44 -0500 0 ec7ccf89088d54754dcff0c8a6eca364 Lawrence Kalkstein started the topic Non Resident Aliens (NRA) in the forum Tax Discussion https://www.nyctatp.org/forums/topic/non-resident-aliens-nra/ Fri, 18 Dec 2020 19:19:36 -0500 IRS Rev Proc 2020-20 allows NRA people to exclude the 60 period in US only between 2-1-2020 & 4-1-2020 to avoid be counted in US as a Resident for tax year 2020. But as Covid 19 continued many NRA people could still not leave/return so are “trapped” into being in US more than the 183 days.

Can’t find any further relief other than Rev Proc…Read more

]]> 7a03865231a45260fe659cfca3ce0af0 Lawrence Kalkstein replied to the topic If a contractor doesn't issue 1099s, can he still deduct the labor costs? in the forum Tax Discussion https://www.nyctatp.org/forums/topic/if-a-contractor-doesnt-issue-1099s-can-he-still-deduct-the-labor-costs/#post-15171 Mon, 14 Dec 2020 22:26:15 -0500 Sure you can still deduct/use the costs. Be sure to answer “no” on the 1099 questions, though. Also, be sure you have adequate support for these expenses.

And if IRS does audit they will usually give a pass if you can contact the contractors and they affirm they reported the income on their 1040 etc.

Larry

]]> 6e40cdc80427d18a867eea95722f0433 Lawrence Kalkstein started the topic PPP loan forgiveness in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ppp-loan-forgiveness-2/ Mon, 16 Nov 2020 15:10:50 -0500 Perhaps someone has insight on below fact pattern:
NYS/NYC “S” corporation received PPP funds in June 2020.Owner had to leave NY (moved to Santa Fe, NM) due to Covid etc, in August 2020.Formed (new) LLC in New Mexico as did not want to be on hook for NYS-NYC taxes. Wanted a clean break from NY. Used the PPP funds in the New Mexico LLC in…Read more

]]> 80bc17a7cb25e29c76a0e0fb08e0da26 Lawrence Kalkstein replied to the topic Processing time for a paper filed return (with 1310) in the forum Tax Discussion https://www.nyctatp.org/forums/topic/processing-time-for-a-paper-filed-return-with-1310/#post-14949 Wed, 11 Nov 2020 00:26:13 -0500 I know Amended paper returns are about 6 months in arrears

Larry Kalkstein

]]> ac3a796f86ed7b1dd79384b94f0511cc Lawrence Kalkstein started the topic PPP Loan forgiveness in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ppp-loan-forgiveness/ Fri, 23 Oct 2020 17:55:11 -0400 For payroll support is it essential to submit copies of each payroll check? Seems like the 941 & NYS45 (for NY businesses) should be sufficient. Copying each check for bank would seem like overkill. I’m thinking of a printout by each employee showing semi-monthly (or whatever frequency is used) amounts.

For Rent & Utilities, etc. copies of leases…Read more

]]> 4ef9f2011f06e73ef351a4c0b1aca166 Lawrence Kalkstein replied to the topic Real Estate Professional; sec 469 etc in the forum Tax Discussion https://www.nyctatp.org/forums/topic/real-estate-professional-sec-469-etc/#post-14705 Fri, 09 Oct 2020 15:24:02 -0400 Much appreciated all.
Larry

]]> 261b26a1a1c03108b8bfdb7317ae1df3 Lawrence Kalkstein replied to the topic Real Estate Professional; sec 469 etc in the forum Tax Discussion https://www.nyctatp.org/forums/topic/real-estate-professional-sec-469-etc/#post-14673 Mon, 05 Oct 2020 19:11:17 -0400 Appreciated Arthur but my main issue here is whether her time spent as a Real Estate Sales Agent (handling sales and buys for 3rd party clients) can be added to her time spent on her personally owned rental property to avoid the Passive Activities Loss rules.

]]> 2c282311e98ea4005ea9c0557a9b0824 Lawrence Kalkstein started the topic Real Estate Professional; sec 469 etc in the forum Tax Discussion https://www.nyctatp.org/forums/topic/real-estate-professional-sec-469-etc/ Mon, 05 Oct 2020 17:52:57 -0400 Client is real estate agent and owns rental property. she puts in almost 100% of her time in real estate for herself and her clients. Has way over 750 hours in real estate and materially participates in the rental of her property.

But she only meets the 750 hour test (and more than half her personal time) if her time as a real estate agent is…Read more

]]> e6f8c9986926b4189075f6dffa858b05 Lawrence Kalkstein replied to the topic Wait time on NYS refund (W2 notice and solar energy credits) in the forum Tax Discussion https://www.nyctatp.org/forums/topic/wait-time-on-nys-refund-w2-notice-and-solar-energy-credits/#post-14568 Tue, 22 Sep 2020 17:38:31 -0400 Nancy-I did reply yesterday. Not sure why it is not showing. Anyway, i had this issue a few times. It takes about 4-5 months. But I call after 30 days to be sure NY needs nothing else. Be sure to have a PoA or 3rd Party designee. Call NY at Practitioner Hotline=518-4575451

]]> 003b457dae2f2928885181b1eb0e5d14 Lawrence Kalkstein replied to the topic Cares Act in the forum Tax Discussion https://www.nyctatp.org/forums/topic/cares-act/#post-14295 Fri, 17 Jul 2020 12:04:49 -0400 I’ve had that situation. Sometimes the software does not include on the voucher the late fees-form 2210. Look at cover letter generated and see if that matches return. Usually when I efile the cover letter does match the 1040 and that amount would auto withdraw.

Larry Kalkstein

]]> ee08cb0389bfc40bd2fb691508333c0e Lawrence Kalkstein replied to the topic IRS installment plan modification in the forum Tax Discussion https://www.nyctatp.org/forums/topic/irs-installment-plan-modification/#post-14257 Thu, 25 Jun 2020 19:42:03 -0400 Elana

I would file his 2019 return. Get a PoA from client for all years thru 2019.
Call the IRS Practitioner Hotline, 866-860-4259.

Ask for collection deferral on 2019 or see if they will add 2019 to the existing Plan.

Larry Kalkstein

]]> 0f2fa6d41e73ab01b969c3300528a0eb Lawrence Kalkstein replied to the topic FORM 1041 INCOME LESS THAN $600 WITH BENEFICIARIES in the forum Tax Discussion https://www.nyctatp.org/forums/topic/form-1041-income-less-than-600-with-beneficiaries/#post-14245 Mon, 22 Jun 2020 22:29:38 -0400 Form 1041 allows a $600 exemption for Estates. Thus no filing needed if income for Estate is $600 or less.

Larry Kalkstein

]]> 72cf09e3a26532331bcfc55aedbd83aa Lawrence Kalkstein replied to the topic Payroll Protection Program (PPP) Loan-Banks/SBA in the forum Tax Discussion https://www.nyctatp.org/forums/topic/payroll-protection-program-ppp-loan-banks-sba/#post-14141 Sat, 04 Apr 2020 21:41:14 -0400 I like Tom’s analysis-lots of logic to that. Rita, the people at the branches are clueless. And forget about calling regional bank people. Appreciated guys. Stay healthy!

]]> 26c055d9f3d223fdd9fbc17aca0c7330 Lawrence Kalkstein started the topic Payroll Protection Program (PPP) Loan-Banks/SBA in the forum Tax Discussion https://www.nyctatp.org/forums/topic/payroll-protection-program-ppp-loan-banks-sba/ Sat, 04 Apr 2020 12:24:06 -0400 Bank (BoA) writes that “2019 Independent Contractor Costs — Listing of 1099’s-MISC for 2019 independent contractors, by person, as reported to the IRS (Note: Do NOT include 1099’s for services)”.

What do they mean ok for Ind Contractor but not for 1099 for services. The Ind Contr is the one getting the 1099.

Larry Kalkstein

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