TTLive
IRS/Tax Law
Potpourri
100

TTLive Tax Associates who are not licensed in the state of Iowa may prepare this many IA returns in Full Service. After that, they must reassign to another preparer.

What is 9?

100

This is the standard deduction for an unmarried person with 3 dependents in 2023.

What is $20,800? 

(Head of Household)

100

This building has been exempt from state property taxes since 1982. The agreement was only supposed to last 10 years, however it was worded incorrectly to be in effect as long as the Knicks and Rangers keep playing home games there.

What is Madison Square Garden?

200

This is the term we use when a Full Service client is calling us instead of sending a client chat message to their preparer.

What is Full Service Triage?

200

Partnerships must provide this tax document to each partner by 3/15 every year. 

What is Schedule K-1?

200

During his reign from AD 69-79, Roman Emperor Vespasian imposed a tax on this, which was valued for its high ammonia content.

What is urine?

300

This is the Full Service Proficiency Level for an Uber Driver's tax return.

What is Full Service Level 4 (PL4)?

300

These decisive rules apply when a person is a "qualifying child" of more than one taxpayer, and they both attempt to claim that person.

What are Tiebreaker rules?

300

You are exempt from filing and paying income taxes after the age of 100 in this southwestern state.

What is New Mexico?

400

These are the 2 most common reasons that TTLive Full Service returns are rejected. 

What are missing 1095-A and missing IP PIN?

400

Notice 2023-74 announced that 2023 would be considered another transition year for implementation of the lower reporting threshold for this document, issued by third party settlement organizations (TPSO).

What is Form 1099-K?

400

The Internal Revenue Service was officially born on July 9, 1953 after this President called for a comprehensive reorganization of the Bureau of Internal Revenue.

Who is Lyndon B. Johnson?

500

+/- 10K, this is the total number of paid Full Service Returns so far in Tax Year 2023.

What is 149,934? 


500

Workers in one of these "Specific" fields (like accountants) have their Section 199A Qualified Business Income (QBI) Deduction limited at higher income levels. 

What are a "Specified Service Trade or Business" (SSTB)?

500

In 2008, this country implemented the "Metabo Law", often referred to as a "Fat Tax", which requires all employees between ages 45 and 74 to have their waistlines measured by their employer annually.

What is Japan?

(No fines or penalties)

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