I read the instructions,
but I wanted to be sure I interpreted it correctly. Regulations
1.60851 just didn't clear it up for me.....sorry I was not
comfortable
with my own simple decision, since it did say your 7004 would be
rejected if filled out wrong.
I do so appreciate having people on this forum that have the
knowledge and experience to help club treasurer's do their job.
With the provided guidance
I can submit 7004, knowing that I did nothing wrong on it! This is
certainly not the first time that I have gotten good information
and assistance with doing
the duties of my club, either through this newsletter or the Help
and discussion on Bivio. I have been treasurer for a long time.
Kudos to the Bivio team and volunteers!!
Genie
"4If the organization is a
corporation or partnership that qualifies under Regulations
section 1.6081-5, check here"
On 2/25/2022 2:14 PM, Peter
Dunkelberger via bivio.com wrote:
I am confused along with all
the other people. I have looked at the Form
7004. The last three steps to fill out pertain
to tentative total tax, Total payments and
Balance due. How do we answer these three
questions if we have not run the numbers through
the Bivio program and getting the information
needed for the IRS.
You've sent this same question to
support and we have sent
you a link with very
complete instructions for
filling in the form. It
also includes links to a
sample filled in form.
I Ira and Bivio
team, the instructions are not very clear on
form 7004. What do
we put in the field "Identifying Number"? Is
that the EIN of
the Partnership? How we determine what to
put for field 6,
7? What else do we need to include with this
form.
Can Bivio generate the form 7004 for us to
download and
send? Makes
sense since we're paying for this service.
What are your thoughts?
I also requested if there is someone that we
could talk to
at Bivio Support via phone call?
Is that possible.
Best Regards,
Alessandro Squeo
--
Thanks,
Genie
(816) 516-3727
--
Thanks,
Genie
(816) 516-3727
Daniel Williams on
I agree...File an extension for your club!
On Friday, February 25, 2022, 04:42:19 PM CST, Butch Lang via bivio.com <user*13990800001@bivio.com> wrote:
Are you sure, "confused with all other
people" is true? I think Laurie 'and team' have done an outstanding
job with this situation. I along with
"all other people" need to read all of the subject thread and I believe
we will find the answers we are looking for.
Thanks
"bivio" for all of your efforts, you have returned far more service than the
payments that you have received from us.
Butch
and club members
Bullish
Investors LLC
-----Original Message-----
From: Kevin Bray via bivio.com <user*17412400001@bivio.com>
To: club_cafe@bivio.com
Sent: Fri, Feb 25, 2022 9:42 am
Subject: RE: [club_cafe] Re: Extensions and amendments
Laurie:
I am confused along with all the other people. I have looked at the Form 7004. The last three steps to fill out pertain to tentative total tax, Total payments and Balance due. How do we answer these three questions if we have not run the numbers through the Bivio program and getting the information needed for the IRS.
Kevin Bray
The Lucre Society
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Laurie Frederiksen Sent: Friday, February 25, 2022 09:12 To: The Club Cafe <club_cafe@bivio.com> Subject: Re: [club_cafe] Re: Extensions and amendments
You've sent this same question to support and we have sent you a link with very complete instructions for filling in the form. It also includes links to a sample filled in form.
I Ira and Bivio team, the instructions are not very clear on form 7004. What do we put in the field "Identifying Number"? Is that the EIN of the Partnership? How we determine what to put for field 6, 7? What else do we need to include with this form.
Can Bivio generate the form 7004 for us to download and send? Makes sense since we're paying for this service.
What are your thoughts?
I also requested if there is someone that we could talk to at Bivio Support via phone call? Is that possible.
Best Regards, Alessandro Squeo
ira smilovitz on
Regulation 1.6081-5 applies to partnerships that maintain their records outside of the US. They can get a three month extension and then an additional three months.
I read the instructions,
but I wanted to be sure I interpreted it correctly. Regulations
1.60851 just didn't clear it up for me.....sorry I was not
comfortable
with my own simple decision, since it did say your 7004 would be
rejected if filled out wrong.
I do so appreciate having people on this forum that have the
knowledge and experience to help club treasurer's do their job.
With the provided guidance
I can submit 7004, knowing that I did nothing wrong on it! This is
certainly not the first time that I have gotten good information
and assistance with doing
the duties of my club, either through this newsletter or the Help
and discussion on Bivio. I have been treasurer for a long time.
Kudos to the Bivio team and volunteers!!
Genie
"4If the organization is a
corporation or partnership that qualifies under Regulations
section 1.6081-5, check here"
On 2/25/2022 2:14 PM, Peter
Dunkelberger via bivio.com wrote:
I am confused along with all
the other people. I have looked at the Form
7004. The last three steps to fill out pertain
to tentative total tax, Total payments and
Balance due. How do we answer these three
questions if we have not run the numbers through
the Bivio program and getting the information
needed for the IRS.
You've sent this same question to
support and we have sent
you a link with very
complete instructions for
filling in the form. It
also includes links to a
sample filled in form.
I Ira and Bivio
team, the instructions are not very clear on
form 7004. What do
we put in the field "Identifying Number"? Is
that the EIN of
the Partnership? How we determine what to
put for field 6,
7? What else do we need to include with this
form.
Can Bivio generate the form 7004 for us to
download and
send? Makes
sense since we're paying for this service.
What are your thoughts?
I also requested if there is someone that we
could talk to
at Bivio Support via phone call?
Is that possible.
Best Regards,
Alessandro Squeo
--
Thanks,
Genie
(816) 516-3727
--
Thanks,
Genie
(816) 516-3727
Susan McClay on
I totally agree with Butch and thank Bivio for all the information provided. Way beyond the call of duty and couldn't be more clear.
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Butch Lang via bivio.com Sent: Friday, February 25, 2022 5:42 PM To: user*17412400001@bivio.com; club_cafe@bivio.com Subject: Re: [club_cafe] Re: Extensions and amendments
Are you sure, "confused with all other people" is true? I think Laurie 'and team' have done an outstanding job with this situation. I along with "all other people" need to read all of the subject thread and I believe we will find the answers we are looking for.
Thanks "bivio" for all of your efforts, you have returned far more service than the payments that you have received from us.
Butch and club members
Bullish Investors LLC
-----Original Message----- From: Kevin Bray via bivio.com <user*17412400001@bivio.com> To: club_cafe@bivio.com Sent: Fri, Feb 25, 2022 9:42 am Subject: RE: [club_cafe] Re: Extensions and amendments
Laurie:
I am confused along with all the other people. I have looked at the Form 7004. The last three steps to fill out pertain to tentative total tax, Total payments and Balance due. How do we answer these three questions if we have not run the numbers through the Bivio program and getting the information needed for the IRS.
You've sent this same question to support and we have sent you a link with very complete instructions for filling in the form. It also includes links to a sample filled in form.
I Ira and Bivio team, the instructions are not very clear on form 7004. What do we put in the field "Identifying Number"? Is that the EIN of the Partnership? How we determine what to put for field 6, 7? What else do we need to include with this form.
Can Bivio generate the form 7004 for us to download and send? Makes sense since we're paying for this service.
What are your thoughts?
I also requested if there is someone that we could talk to at Bivio Support via phone call? Is that possible.
Best Regards, Alessandro Squeo
polymerguy on
Thank you Peter and Bivio! I'm amazed at the needless amount of additional work created from inefficiencies in our tax system; however, your advice is greatly appreciated as it simplifies this process as much as possible.
Jimmy
James P. Dickerson
TLP Investment Club
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Peter Dunkelberger via bivio.com Sent: Friday, February 25, 2022 3:11 PM To: The Club Cafe <club_cafe@bivio.com> Subject: Re: [club_cafe] Re: Extensions and amendments
There normally is no partnership tax. When was the last time your club paid any partnership tax??
There are 8 lines on the whole form!!
-put in the club name and address and your employer identification number
-for Part 1 line 1, the form number is 09, for the form 1065.
-unless you have a very unusual situation, lines 2, 3 & 4 do not need to be completed.
-line 5a insert 21 in the first blank.
-line 5b can be left blank unless your club is brand new, or filing its final return and it is a "short year" (less than 12 months) return.
-lines 6, 7 &8 should be zero.
Remember that this form is for the club not your members.
You don't even have to sign it. Send it off certified mail (return receipt if you think it is necessary) and be done with it and wait for Bivio.
BTW, this advice is only worth what you have paid for it, I take no responsibility for your forms, but it will apply to 99.9% of the clubs.
Yes, the same here. It would have been easier if Bivio generated the extension form for us. It is hard to know what the tentative total tax is? ST gain / loss or LT gain /Loss, Total payments, credits???
I am confused along with all the other people. I have looked at the Form 7004. The last three steps to fill out pertain to tentative total tax, Total payments and Balance due. How do we answer these three questions if we have not run the numbers through the Bivio program and getting the information needed for the IRS.
You've sent this same question to support and we have sent you a link with very complete instructions for filling in the form. It also includes links to a sample filled in form.
I Ira and Bivio team, the instructions are not very clear on form 7004. What do we put in the field "Identifying Number"? Is that the EIN of the Partnership? How we determine what to put for field 6, 7? What else do we need to include with this form.
Can Bivio generate the form 7004 for us to download and send? Makes sense since we're paying for this service.
What are your thoughts?
I also requested if there is someone that we could talk to at Bivio Support via phone call? Is that possible.