IRS and Tax Filing Issues

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Everything looks pretty straightforward so far—if I’m reading this right—which basically means it's just a carbon copy of the PPP loans but without the interest. Since I haven't touched that specific column since I started my small business, I'm a bit stuck. Do I actually need to sit down and manually calculate what the balance would be without interest, or can I just plug in the previous balance from the last form I sent over?

What's your take on this? 😁

Alright, I’ve gone back to my 2012 records and started crunching the numbers. Since I only had one instance where I dealt with a full dollar of interest since then, the figure in field V ends up being identical to what shows up on my IRS tax statement. So, here's the dilemma: what amount am I supposed to put in column V? Should I use the amount after subtracting that dollar of interest, or should I go higher by a dollar (since in my subscription records, I always treated it as a down payment when filling out the forms)?

Please help a girl out—I'm a total nervous wreck about this and I really don't want some lady at the IRS yelling at me.

Thanks.

So, if I had sales tax due for the fourth quarter and I just settled it yesterday, should I leave column V blank or what?
Thanks, everyone!

I was looking at my records from April and saw I had a refund coming back—well, more like it was just reallocated toward my payroll taxes. Now that we’re hitting May, I’m seeing a balance due again. What am I supposed to enter in column V here?

I went ahead and cleared all those transfers against my subscription, basically zeroing everything out. Since I don’t owe a dime, I’m looking to dump that entire prepayment into Column V. But, you know me, I’m sitting here twiddling my thumbs waiting for Darsey to tell me if I'm actually doing this right.

Wait, why Darsey specifically?

Because she already laid it all out in a couple of posts above... hahaha... 😬

I honestly can't wrap my head around what motivated them to even bother sending that FBI message in the first place.
Anyone here actually know why they did it? If you do, maybe explain it to me. 😢

Douglas Nguyen30 said:So, if I had sales tax due for the fourth quarter and I just settled it yesterday, should I leave column V blank or what?
Thanks, everyone!

🙂
Anyone know?
Thanks!

Douglas Nguyen30 said:🙂
Anyone know?
Thanks!

The rule states that nothing counts as unpaid if it wasn't settled by the date the application is filed. If you made a payment just a day or two prior, it won't show up in the delinquency column. For instance, I made my payment for the 4th this past Friday—the transaction didn't even reflect on my Chase card until this morning. Had I submitted the form yesterday, I wouldn't have listed any outstanding debt on it, because technically, the amount was paid and will be recorded as settled before the filing date.

It’s still pretty hilarious because the message explicitly says they don't pull data from the FARC. Look, all I really need is some confirmation on whether I'm recording the full subscription I've been dragging along forever—you know, the one I actually dodged paying when I first had it. So, here’s the breakdown:

Sales tax reconciliation from 2013=$333
Jan '14 sales tax=$33, balance I'm entering in Col. V.=900.00
Feb '14 sales tax=300.00, balance I'm entering in Col. V.=600.00
Mar '14 sales tax=-100.00, balance in Col. V.=700.00....and so on.

?????????????????????

Thanks...

Look, if you still owe some sales tax from the last filing and haven't settled up by the time you're turning in this new one, just list that debt under section V (just the principal, don't bother with interest). On the flip side, if you actually overpaid and requested a refund or a credit, that's currently stuck in limbo because the IRS moves at the speed of a snail 😁, so you leave section V blank.

Basically, column V is where you put the actual reality of the situation... if your last filing showed you either owed money or had a credit, and nothing has changed since then—meaning you haven't paid up yet or hasn't been processed for a credit—then you just carry that exact same number over to section V on the next form.

Those internal ledger cards can really throw a wrench in things because: - they include late fees and interest which aren't part of the sales tax calculation
- they're never quite up to date when you're doing credits or refunds (sometimes you're waiting days for the system to reflect reality)

Honestly, I don't get why the IRS makes this so confusing for people. Shouldn't they be more focused on what's listed under section IV? Most of the time, their own automated systems are doing all the heavy lifting anyway.

darsey, you're an absolute saint.

In the meantime, I gave my contact at the DMV a call, and she basically told me to just leave the field blank because she had no clue what I was even talking about—especially since we've already got the ACA in place.

I'm working on my sales tax return through the IRS website. I fill out the header, move to the main form, enter the state code, and put in my EIN. The acquisition amount looks correct, so I hit tab, find the little floppy disk icon to save, and plug in the total value. But then, get this—when I try to review everything, the button to sort by row number just won't work. It's showing me zero. I feel like there's some weird glitch happening here. Does anyone know what's up?

Ronald Palmer13 said:I'm working on my sales tax return through the IRS website. I fill out the header, move to the main form, enter the state code, and put in my EIN. The acquisition amount looks correct, so I hit tab, find the little floppy disk icon to save, and plug in the total value. But then, get this—when I try to review everything, the button to sort by row number just won't work. It's showing me zero. I feel like there's some weird glitch happening here. Does anyone know what's up?

It looks like I’m running into the exact same issue; whenever I select the validation option, it just wipes all my data. It’s clearly a flaw in their software design. Honestly, I always submit my tax forms perfectly fine, and I don't even really need the validation tool since I typically don't have many line items to deal with anyway.

My tax return hasn't been processed yet. How is the situation looking on your end?

I need some help here... I was just at the IRS office and the manager told me to file an amended sales tax return for July 2013, but she honestly doesn't even know how to handle it... Basically, I originally reported one acquisition when I should have reported two. My question is: on the amendment, do I need to list both acquisitions or just the one I missed? Everything was accounted for in the final settlement...

And I'll attach the inquiry here too 🙂)

They're processing my sales tax form right now

ruggednomad5 said:I need some help here... I was just at the IRS office and the manager told me to file an amended sales tax return for July 2013, but she honestly doesn't even know how to handle it... Basically, I originally reported one acquisition when I should have reported two. My question is: on the amendment, do I need to list both acquisitions or just the one I missed? Everything was accounted for in the final settlement...

And I'll attach the inquiry here too 🙂)

They're processing my sales tax form right now

You need to report both acquisitions together—not just the one you missed. When you resubmit a form for that same period, it serves as a full correction; therefore, it must reflect the complete, accurate data, effectively superseding the previous filing.
Once you aggregate all your sales tax filings, they must align perfectly with your internal ledger records. When calculating the total, you do not include the erroneous filing, but rather use this new, corrected version instead.

Much appreciated 🙂 going to fix that right away

I need to file an amended sales tax return. I sent mine over yesterday, but then I realized I messed up—the software missed one day of total sales. So, if I submit a corrected version today, does the IRS just treat it as a formal amendment to yesterday's filing? Do I need to include some kind of explanatory note or anything? Thanks.

I’ll just shoot an email over to my supervisor to walk them through why this correction is necessary...