jasdlm

1) You should file a lawsuit against your high school math teacher. 2) I'm glad you borrowed less to buy your house. More equity to secure the 2nd mortgage you're going to need to pay the tax on the withdrawal. 3) I charge a 3% fee for completing form 5329 for early withdrawals on 401(k) plans. I knew you would be pleased, since it's clear from the calculations you've already done that I'm a better deal than the IRS, Mortgage Company, OR 401(k) Plan Investments!

Sigh. I didn't know I had to turn ON the auto-save every 5 minutes. I thought it was automatically on. It's on now! I guess I confused it with the automatic backup, which isn't the same thing. I haven't changed ANYTHING in preferences, etc., until now when I 'clicked' the 5 minute check box. Thanks for your help. I'm going to go whine at my husband now and try to garner some sympathy (or at least some ice cream).

Am I incorrect in my understanding that the software autosaves every 5 minutes? The 'Restore' function wants to take me back to the last time I closed the return, but that is not helping me.

I haven't made any changes in the admin panel (not even sure I know how). I just went through the restore function, but it didn't restore anything. What could I be doing wrong? Thanks so much, Jack!

Maybe it's saved somewhere else? How do I get to the backup?

The software just had to 'shutdown unexpectedly' (per the notification on screen). I have been making updates to a VERY involved return - several rentals, a schedule C, many new fixed assets, changes to things I had already entered, etc. NOTHING seems to have been saved even though I have been working on it for a couple of hours. Any secret to getting the changes back? Trying not to scream or cry, here. I'm using ATX. Anyone have any ideas? Thanks much.

I'm weird. I really do not like extensions. My clients are gracious and allow me to put my legal and financial management business 'on hold' for about 6 weeks (unless there are emergencies or court dates, of course), and I don't like having to do returns after the 15th. I push people (have staff start calling right after corporate returns are due), and I try to get everything I can out the door. Right now I have 150 here and 49 left to come in. I have another 30 people I won't see anything from, but they will call me on 15 April to make sure I filed their extensions. I hope these 30 are the only extensions. Last year, I felt very tired toward the end of the season, and I did put a few on extension because I didn't want to make mistakes. I know that might happen again, but right now I still have energy, so I'm feeling overly ambitious.

I check the Hud1 and 1098 against the county records, which are almost always on line and are public information. It's quick, and no need to call the client. Definitely need the Hud1 to check for credits on tax payments, etc.

Seriously, Jainen (or Pencil or Mr. Pencil) - please confirm that you are upright and taking nourishment.

I didn't know we could run out of 'likes'! Do you know the difference between a lawyer and a tick? Ticks fall off you when you die. I'm an estate planning lawyer, so I get to tell this joke .

I know a good lawyer.

I had a client do a 2010 ROTH conversion using Turbo Tax. CP2000 for 2011 return, which I amended, and I did 2012 return. If there was a 1099R (which there should have been), I can't see how the IRS won't eventually catch it. I would amend.

I had this happen once (client took the return to the banker before returning the 8879 - I was unaware the banker had asked). You would not believe the changes the banker recommended? I was gobsmacked and told the client that the banker was asking her to commit fraud. She fired the banker, and I still do her tax return.

There's a waiver exception for 'goods'. It seems to me that if your client is selling 'goods' (as opposed to services), you file form 587 and no withholding is required. F Exceptions to Withholding Withholding is not required when: • The payment is for goods, get Form 587, Nonresident Withholding Allocation Worksheet. 587 provides a place for 'goods' and indicates it is exempt from withholding. Does this work?

"She can file the FAFSA with out him. My wife filed it with out me for my step children for years.I paid for college but we received more money with out me. As a step father I did not have to show.We went to an education consultant help us." This is in direct violation of the current rules, which I posted above.

http://www.xtranormal.com/watch/7515137/ I'm not sure it works anymore. I can't get it to play. I believe Lion posted it originally. Nothing is as funny, in my mind, as your 'I'm billing time'.

Hi, JB. I don't know if it would help her to show Step-Father the cite, but here it is: The specific statutory citation that supports this is 20 USC 1087oo(f)(3), which is section 475(f)(3) of the Higher Education Act of 1965: B ) My custodial parent remarried and signed a prenuptial agreement that absolves the stepparent from financial responsibility for my education. Why does my stepparent have to provide financial information on the FAFSA?Remarried parents If a parent whose income and assets are taken into account under paragraph (1) of this subsection, or if a parent who is a widow or widower and whose income is taken into account under paragraph (2) of this subsection, has remarried, the income of that parent's spouse shall be included in determining the parent's adjusted available income only if -- (A) the student's parent and the stepparent are married as of the date of application for the award year concerned; and ( the student is not an independent student. Prenuptial agreements are ignored by the federal need analysis process. After all, two individuals (parent and stepparent) cannot make an agreement between them that is binding on a third party (the federal government). The federal government considers the stepparent a source of support regardless of any prenuptial agreements to the contrary. If a stepparent marries the parent, he or she is considered responsible for supporting the parent and children even if he or she is unwilling to do so.

Thanks much, Ladies! d

Hi, Margaret. I'm not sure that the above applies when the son doesn't actually have even a non-IRS power of attorney for the wife. Two suggestions, one easy, one you won't want to hear. 1) Check Father's power of attorney for Wife toward the end of the document. He might have named an alternate, in which case, son has POA simply by having a doctor (or 2 depending on your state) certify disability. 2) When no POA exists, a Court order is usually required to appoint a Conservator to perform financial functions. (I knew you wouldn't like this one.) Unless there is something I'm missing, I do not see how Son can sign without POA or being appointed Conservator. The explanation Judy posts requires either a 2848 Power of Attorney or a Non-IRS POA. In limited instances, a spouse can sign, but I don't believe it applies to the POA of a spouse. See the following: cfr 26 Section 1.6012-5 (5) Returns made by agents. The return of income may be made by an agent if, by reason of disease or injury, the person liable for the making of the return is unable to make it. The return may also be made by an agent if the taxpayer is unable to make the return by reason of continuous absence from the United States (including Puerto Rico as if a part of the United States) for a period of at least 60 days prior to the date prescribed by law for making the return. In addition, a return may be made by an agent if the taxpayer requests permission, in writing, of the district director for the internal revenue district in which is located the legal residence or principal place of business of the person liable for the making of the return, and such district director determines that good cause exists for permitting the return to be so made. However, assistance in the preparation of the return may be rendered under any circumstances. Whenever a return is made by an agent it must be accompanied by a power of attorney (or copy thereof) authorizing him to represent his principal in making, executing, or filing the return. A form 2848, when properly completed, is sufficient. In addition, where one spouse is physically unable by reason of disease or injury to sign a joint return, the other spouse may, with the oral consent of the one who is incapacitated, sign the incapacitated spouse's name in the proper place on the return followed by the words “By __________ Husband (or Wife),” and by the signature of the signing spouse in his own right, provided that a dated statement signed by the spouse who is signing the return is attached to and made a part of the return stating: (i) The name of the return being filed, (ii) The taxable year, (iii) The reason for the inability of the spouse who is incapacitated to sign the return, and

Client prepares his own 1120S. This year, his company did work in Canada, and Canadian tax was withheld. Is there one of you 'Northerners' who does Canadian tax? If so, please let me know, and I'll put my client in touch directly. Thanks.

The S-Corp wasn't relieved of debt, so I don't see how it would flow through her K1. I think the 1099 C is the right answer, and only because she had personally guaranteed the note. KC, is this correct?

. It just doesn't like me, I guess. It must happen to others, though, because she indicated that the programmers were aware of the error, but it was likely to be fixed this year. I guess I just have the right touch!

File schedule S with KS return to exempt non-resident income.

jmdavis - When a file is efiled and even if it is accepted, it stays 'checked' in the efile manager, so if you don't go in and manually 'uncheck' all efiles that have already been sent, it will transmit the file again when you send your next batch. You will then get a reject from EFC (because you have already sent the file), but temporarily, the 'accepted' file can't be seen in the list. I panicked because I thought maybe I had imagined seeing the acceptance. Once I 'received acknowledgements' again, the accepted return reappeared and the 'rejected' disappeared. One has to remember to 'uncheck' all previously sent returns before transmitting. This has never been the case in previous years.

JB - this is from the KS website. What if I am a Kansas resident in the military? If your military home of record is Kansas, you are required to file a Kansas income tax return, even if you were not stationed in Kansas last year. What if I am in the military and stationed in Kansas? The service pay you or your spouse received as members of the armed forces is taxable only by your state of legal residence. Usually your state of legal residence is the state you lived in at the time of induction into the service. Kansas income for services performed by a non-military spouse of a nonresident military servicemember is exempt from Kansas income tax. To qualify for this exemption, the spouse must be residing in Kansas solely because the military servicemember is stationed in Kansas under military orders. The exemption from Kansas income tax does not extend to income from Kansas sources earned by the nonresident servicemember. See Notice 09-12