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Edwin Generes

Edwin G. Generes

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Edwin G. Generes

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RE: 1099-S Appeal

Posted By Edwin Generes 04-15-2024 10:35
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Mary Anne, was your client's situation resolved? How? ------------------------------ Edwin Generes , CPA (Inactive) Edwin G. Generes Covington LA 985-317-3398 ------------------------------

RE: 1099-S Appeal

Posted By Edwin Generes 04-08-2024 10:50
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Hi Mary Anne, I need more information. The reason for the penalty doesn't make sense. The only changes I am aware of were to the FIRE format that IRS made in the last few years has been to the layout. Filing with an incorrect layout would have resulted in a "BAD" submission, not a penalty. I ...

RE: FIRPTA - W9, W8 and W8 BEN

Posted By Edwin Generes 04-02-2024 14:06
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Mary, I am certainly happy it all worked out. Ed Edwin G. Generes, CPA (Inactive) ed@generes.biz LinkedIn: linkedin.com/in/edwin-generes-86b40220/ Member: American Land Title Association Member: Association of International Certified Public Accountants Certified: Cybersecurity for Finance and Accounting ...

RE: FIRPTA - W9, W8 and W8 BEN

Posted By Edwin Generes 04-02-2024 12:08
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Hi Mary, Interesting situation. What did you do and how did you work it out? Edwin G. Generes, CPA (Inactive) ed@generes.biz LinkedIn: linkedin.com/in/edwin-generes-86b40220/ Member: American Land Title Association Member: Association of International Certified Public Accountants Certified: Cybersecurity ...

RE: Verifying a Social Security Number of a Seller

Posted By Edwin Generes 03-05-2024 19:01
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This is a valid site but only for verification of employees' SSNs. While you might bend the rules and use it for 1099s, good luck with EINs. Edwin G. Generes, CPA (Inactive) ed@generes.biz LinkedIn: linkedin.com/in/edwin-generes-86b40220/ Member: American Land Title Association Member: Association ...

RE: Verifying a Social Security Number of a Seller

Posted By Edwin Generes 03-05-2024 08:37
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Hi Connie, As you know, we verify SSN's and EIN's as part of our TIN matching process. Some companies have us do TIN matching on a quarterly basis so they can deal with the mismatches currently. There is no additional charge for that. Let me know if you have any questions. Ed --------- ...

1099-s TIN matching & Filing

Posted By Edwin Generes 02-05-2024 11:56
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Taxpayer identification number matching before filing is the most certain way to confirm your 1099-S filing will not result in penalties of $310.00 for each incorrect match. Contact me for more information. Edwin G. Generes, CPA (Inactive) ed@generes.biz LinkedIn: linkedin.com/in/edwin-generes-86b40220/ ...

RE: Software for Title ONLY Company

Posted By Edwin Generes 08-02-2023 10:31
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I have a correction to Cheryl Evans' post. Generes & Associates has partnered with AtClose, the newest and most technologically advanced platform available. Edwin G. Generes, CPA (Inactive) ed@generes.biz LinkedIn: linkedin.com/in/edwin-generes-86b40220/ Member: American Land Title Association Member: ...

RE: What Title/Escrow Production do you use?

Posted By Edwin Generes 01-16-2023 15:00
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Regarding Brian Thome's (Qualia) post, as always the devil is in the details. Regardless of which software you choose, be sure to read the software license agreement, particularly any exhibits and/or attachments. It's true that we all too often just "agree" to agreements with carefully reading them. ...

RE: What Title/Escrow Production do you use?

Posted By Edwin Generes 01-16-2023 13:52
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Visionet, Inc. (visionet.com) has recently released a new version of AtClose designed specifically for the small to medium sized agents. It's very "qualiaesq" in that it has many of the features but at a more competitive price. I can point you in the right direction. ------------------------------ ...

RE: Disburse before Recording

Posted By Edwin Generes 01-16-2023 13:41
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Regena, I don't believe that Kansas is an "escrow state" where you must hold the proceeds until all amounts are reverified and docs are recorded. So, unless some Kansas statute makes you hold funds, as in Virginia, you should be free to disburse at the table then get to the courthouse or, better yet, ...

RE: 1099 Verification software

Posted By Edwin Generes 01-09-2023 12:54
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Hi Kenneth, Even though IRS doesn't list the 1099-S as an eligible file type, IRS will accept and respond to 1099-S submissions. Ed ------------------------------ Edwin Generes Edwin G. Generes Covington LA +1 (985) 445-1183 ed@generes.biz ------------------------------

RE: 1099 Verification software

Posted By Edwin Generes 12-28-2022 17:50
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Hello Kelly, By "1099 Verification software," I assume you mean a way to verify that the TIN given by the taxpayer (seller) matches the name of the seller. IRS refers to this process as "TIN Matching." For this issue, the matter is not in any software but with the actual person who files for the TIN ...

RE: Help moving from Civil to Common

Posted By Edwin Generes 06-30-2021 10:56
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Henry, I'm not an attorney but I've consulted and trained title and settlement attorney/agents all over the country since 1993. I agree with Gary's assessment; most differences are in terminology. However, customs and promulgated procedures are different in different jurisdictions. Texas is particularly ...