Never has my client ever...
Think they even read this item from the IRS before sending it to me?
What is a tax notice?
This jurisdiction has taxation, but no representation.
What is DC?
My hard earned this.
What is cash?
I gotta amortize this for how long?
What is 15 years?
Someone else is in this locator and I can't get in!
What is locked?
Paid this in 30 days or less
What is their bill or invoice?
In addition to income tax, NC and a few other states have this.
What is franchise tax?
The offsetting GL account to record current tax expense.
What is taxes payable?
What are the two types of M&A deals?
What is asset and stock deal?
No way I can clear all these by tomorrow...
What is a diagnostic(s)?
When I receive the requested documents
What is on time?
A taxpayer has 100% apportionment in MD, which is their only state filing. MD state tax rate is 8.25%. This is your state effective tax rate.
What is 8.25%?
Filed this for last year to give us more time so gotta pick it up in my rollforward.
What is a tax extension?
When establishing opening deferred tax assets or liabilities in a stock deal, this is the offsetting account.
What is goodwill?
I just can't get it to qualify...
What is e-file?
Hid this right under my nose.
DAILY DOUBLE!!!
The taxpayer has 50% apportionment to VA and 50% to MD, which are their only two state filings. MD state tax rate is 8.25% and VA is 6.00%. This is the blended effective state tax rate.
What is 7.125%?
To reconcile I have to include this expected amount from the prior year.
What is the overpayment?
DAILY DOUBLE!!
In what type of deal will the taxpayer have basis in goodwill
What is an asset deal?
I totally put the number in the right input box!!! WTF is going on??? I'll just do this instead.
What is override?
Well... I keep sending emails and nothing.
What is disappeared or ghosted?
This type of deferred tax balance generally has a different basis for state than it does federally.
What is fixed assets?
A reconciling item for the payable might be this item that was claimed and not yet received.
What is a refund?
When the goodwill of your audit team exceeds that of your tax team you have this.
What is component 2 goodwill?
A different screen for every state for the same information? Really?
What is common state?