TAX TECHNOLOGY
The color used by interns and associates to mark up source docs is this.
What is red?
This IRS Form is the main form for fiduciary income tax returns.
What is Form 1041?
This IRS Form is the main form for individual income tax returns.
What is Form 1040?
Long Term Capital Gains can be taxed at any of these 3 rates, depending on the taxpayers tax bracket.
What is 0%/15%/20%
This is the filing deadline before extensions for individual income tax returns.
What is April 15?
The acronym "GFR" stands for this.
What is GoFileRoom?
This is a title of an individual who creates or funds a trust.
What is Grantor?
(also accept: Settlor, Trustor)
This type of income is reported on a W-2
What is wages?
This is the maximum allowable deduction on Schedule A for State and Local Taxes.
What is $10,000?
This type of income is reported on Schedule D.
What is capital gains?
This tax preparation software is used most often by PCS.
What is CCH Axcess?
This is the title of a person responsible for overseeing a trust, and its assets.
What is a trustee?
This schedule details interest and dividend income reported on an individual income tax return.
What is Schedule B?
Qualified Dividends can be taxed at any of these 3 rates, depending on the taxpayers tax bracket.
What is 0%/15%/20%?
The Boston office has this many pods.
What is 5?
Time entry must be completed on a ______ basis?
What is daily?
This schedule is provided to the beneficiary of a trust to report income distributed/allocated to the beneficiary.
What is Schedule K-1?
The acronym "AGI" stands for this.
What is Adjusted Gross Income?
This is the highest federal income tax rate for individuals, and applies to taxable ordinary income over $693,750 for jointly filed returns in 2023.
What is 37%?
This form is the main form for filing partnership income tax returns.
What is Form 1065?
This contact is our resource for any technology issues, and can be reached 24/7 via email.
What is Helpdesk?
This is the highest federal income tax rate for trusts, and applies to taxable income over $14,451 for 2023.
What is 37%?
This type of interest is not federally taxable as regular income. Sometimes this interest is taxable under Alternative Minimum Tax.
What is Municipal Bond Interest?
(Private Activity Bonds are an AMT addback)
This is the maximum allowable deduction for a net capital loss in any taxable year, with the remaining loss carried forward to future years.
What is $3,000?
This is the Office Managing Director (big boss man)
Who is Michael Douglas Hough?