Terry D EA

I haven't used ATX for the last two years. However, I did use ATX almost from their beginning and the print issue has always irritated me. I did the custom print routine as others have mentioned. I used to hate having to sort the return after printing because ATX prints it in thier pre-determined order. This is not a push for TaxWorksa, but, they have a feature called distribution sets that you can create a default set and the order of printing is fine. It is nice to grab the return from the printer and not have to sort it.

While sitting in a year end review to go over the year end adjustments for a manufacturing client, a large inventory adjustment (60K)was made at the close of the year. Client stated their physical count only showed 6K in inventory. After several discussions regarding this adjustment, the client revealed they receive raw materials for production, receive the invoice and have not paid the invoice and therefore they do not include this material in inventory. Their take is they don't own it because they haven't paid for it. I personally feel this should be counted in the inventory simply because some type of bill of sale exists which indicates title to the materials has changed hands. The bill for the materials has been recorded in the payables as well. My understanding is either FOB shipping point or destination point is the point where ownership of the merchandise is determined for inventory purposes. Any suggestions are appreciated

Well that worked!! Hit the f5 key and there was the new picture. Now that I see it, I think the old one was better. I'll put on the one with my wife, she makes me look better :D

Well, I don't know what to do here. I changed the picture and the avatar under my profile but the changes don't appear on the board. I'll quite trying so as to not tick off those who don't like this stuff. I guess the groucy old mechanic will have to stay.

Still trying to change the picture. Technologically challenged here. :scratch_head:

Just checking to see if the picture changed. Well, guess not. Back to the drawing board. How about this one from Uncle Sam?

I think you got it!! Don't be alarmed at the profile as my wife and I are screwing around with it. My picture that is

That would be my guess as well. I am going to check into the planner. I think it will be more important than ever for folks to have a five year forecast.

Only 100 posts to go and I will be an ATX alcoholic and will add one more dot, I mean atxaholic anonymous I think. I will never catch the Grand POO BAH!!! Good to see you here KC.

Welcome back and I am sure we will all be leaning on each other for one thing or another. Even if it is to vent, rant or just escape all the tension for a while it is nice to know we have a place of commonality (is that really a word)?

Yes they can. However, you need to register with the SS administration for them to accept the filing. I can't remember the process as it has been a couple of years since my payroll clients started doing things on their own. Hopefully someone else will chime in here and give you that information.

JB, The link below is a free online training module for due dilligence for EITC. This training will tell you how to handle a situation such as yours. You have to ask the client additional questions, document what you asked and what information you received from the client to verify that what he says is true to the best of your knowledge. In your situation, the W-2 forms presented plus a document showing the additional questions regarding income that you asked, with a client signature that acknowledging his source of income. Now if the client is hiding a W-2 form, then it is not on you and your documentation should be enough to protect you. Chances are, a client hiding income will show up when the IRS does income matching and should never affect you. But, in my humble opinion, CYA at all times. http://www.eitc.irs.gov/training/welcome/

I have a two page (front & back) client write-up form that I have used ever since this due dilligence thing came about in 1997. The form contains client demographic information,SS#, filing status; etc. On the back are all of the EITC questions including a jurat statement for the client to sign. I then use the 8867, print and keep it in the file as well. May seem like a little additional work or duplication but, when a new client comes in, the receptionist fills the form out which gives them a little start before they see me and gives me times to clean up my desk of any other sensitive client information before the next client comes in my office plus affords me two different forms of due dilligence. JMHO

I have viewed some of the videos and used TRX last year and will be using it this year. Other than some missing features (maybe insignificant maybe not), the program is the same and works the same. Hope that helps.

The signature line on the 1120 form has the same statement. Many people sign tax returns they know full well are not accurate. Most of the time the inaccuracy comes from the client's books. Again, many folks know what is going on in their companies and are not clueless regarding their tax position. The officer who signs the return, just as the individual, is responsible for every line and figure on that return. If your client is not properly reporting payroll withholdings, then it is on him completely. Your eithical responsibility in this situation is to walk away. By your statement you have knowledge of what he is doing which can come back to you. Part of the jurat statement includes the declaration of the preparer that you prepared the return based on the knowledge you have as provided by the tax payer. Be careful with this and personally I would tell this guy to take a hike. I pulled an engagement last summer because of a client willfully mis-classifying employees as sub contractors. So, simply put, yes this guy can perjure himself and sign the return. When he gets caught, he will get a triple whammy, one for the C-Corp and one for falsifying his individual return and again for the incorrect payroll returns. I agree with JB that it sounds bad, but it is bad.

Oaky after watching some of the training video, I realize that the buttons you mention indicate which version of TaxWorks you have. TRX does not display what version we have. I watched the video for the Tax Planner and that is not available to TRX users unless you purchase it. Obviously not part of the 299.00 plan.

I agree with Mike that TRX is a lighter version of TaxWorks. I don't have those buttons at the top of the general screen either. To the left are XPert, Express, Type & Used. I used TRX for the first time last year and always used the Xpert tab. I guess the buttons you mention might be used to choose the type of return you are completing or maybe the form used. I have always just used the 1040 for all returns and adjust the pricing accordingly. A one size fits all attitude. Overall, the program is pretty good. The FAM does have quirks.

I would have laughed too. On the other hand, it takes alot to be able to put on that statue suit and stand in the cold all for minimum wage. I got a card in the mail giving me $50.00 cash with a paid prep fee from Liberty. Luckier folks may get $100.00. Scratch off gimmic gets them in and let the fleecing begin.

Okay, I can't remeber the dollar figure of the penalties that can be assessed for not using the red forms. Whatever that amount is,(it may be substantial), it is worth going through the hassel to get the red forms. The IRS will send them to you for free or you may be able to pick some up at your local IRS office. Personally, I would not print the SS or the IRS copies in black and white. Get the red forms and use them in your printer

Ha Ha! :spaz:

I think what you are saying here is it would be best to check with the Secretary of State of the State where this company is located or incorporated in to see if that State has any special requirements for a Professional Corporation. If so, then I agree BColleen should do this. Under the Federal Code, as you have indicated, a PC can elect S-Corp or C-Corp status.

What amazes me is the number of people who think they can tell what the IRS will do or how they will act in a given situation. This is not directed at anyone in particular. But, I have seen the IRS stand strong and intimidate a client for 5.00 and add interest and penalties because the IRS (who never makes mistakes), could not calculate the ETIC credit amount correctly. After several attempts with various documentation, they refused to budge, isisted they were right and it was in the best interest of the client to pay the $5.00 plus interest and penalties. I would never go out on a limb and say what position the IRS or any other taxing authority will take. In this situation is may be unlikley that the IRS will catch up with this but I would always advise the client of what he/she should do to correct the error to avoid any unnecessary heart ache and expense. Here is another scenario, a client owed the IRS 1600.00 in 2004. He took a stand and protested paying taxes (put this guy at the top of the DA client list)and that amount has turned into 8,000.00 dollars. Now I ask, which would you rather have to pay? Bottom line, any taxing authority can collect on any amount they claim is due within the statutes and make the tax payers life a living hell for non payment.

One thing you might want to do is make sure your clinet throroughly understands that all S-Corp shareholders who actively perform services for the S-Corp are required to be an employee and are subject to the same withholding taxes as the other employees within the corp. I have seen people try various attempts to get around this. Anything but following the law is unethical which you should not be part of. I dumped a client this year because he willingly and knowlingly misclassified employees including himself and refused to do it any other way. I showed him in black and white to ensure that it wasn't my quirky way of doing thngs and he disagreed and my engagment came to an immediate halt.

You can buy perforated paper just about any where. ATX does sell it as a blank uni-form. You are not violating anything by electronically filing all 1099 and W-2 forms. The IRS prefers this but be sure you are filing the W-2 forms with the SS admnistration. Some folks even print the W-2 and 1099 forms on blank paper and cut them with a paper cutter. Doing this and e-filing is the most economic method.

Hey JB what happened to Jerome and the other lady who were preparing taxes? Did they get their PTIN or have they discovered some work around that the rest of us could benefit from? Tax season just wouldn't be the same without them.