Margaret CPA in OH

Rita, it's also called professional development and we all need it, you know?

Gail, that is EXACTLY what I emailed to the client. My guess is that whoever prepared the check just saw the AU address and 'assumed' a foreigner. And I have asked for them to do it properly but doubt that will happen timely. Meanwhile I also encouraged the client to get an EIN (provided links, etc.) and have W-9's at the ready as he plans on doing more teaching/research this year. I hope he follows through. I did click on Line 64, Federal income tax withheld from Forms W-2 and 1099, just in case...Sure enough there are those lovely blue fill in lines so that's what I did. I input From Form 1042-S, XXXX payor, EIN xxxxxxxxx. It flowed through to line 64 but I do get an error that withholdings must be reported on Form W-2, W-2G, K-1, 1099 or Form 8959 to efile as those lovely blue lines don't efile. They won't want to paper file from AU. I will ask how important that $38 is. I'm well over that time to charge by now.

Anyone? With 20 views so far, I may not be the only one who is clueless :)

Thanks, Judy. The one I found went through 2013 so I think I'm covered. Just wasn't sure the year it began. "Bonus" - they agree!

In order to analyze client assets over time to determine whether proper depreciation was taken, it would be helpful to know which years had bonus depreciation and how much. I was not entirely successful in finding this. A google search brought up a nice article with a table that goes back to 2001 and ends with placed in service after 12.31.11. So I think it will be easy to confirm 2013 and 2014! Was 2001, in fact, the first year? And how far back do we need to go for 3115 assuming the asset is still being depreciated? My teeth are grinding and my eyes are flickering with this mainly because one client with several rentals is on my case to get this done. The fact that he is on a payment plan for an omitted 1099R from 2011 has everything to do with it. He's hoping the refund for 2014 will cover the balance due. I have everything finished save this and am concerned that there may be more tax due and an unhappy client (what else is new?). Thanks!

Client who now resides in Australia but still US citizen taught course in US last year. They paid $1250 and withheld $37.50. I asked about 1099 MISC as it's needed to claim the withholding. They just sent a Form 1042-S instead with $125 gross proceeds (I've asked if the balance of the check was travel reimbursement) and 30% withholding of $37.50. I can't find where to enter this data for his Schedule C. I also looked at line 21 but don't see it. I just want to be sure he gets credit for the withheld tax. Thanks!

I am still a member of AICPA but not the Tax Section which is where this letter is available. THAT irritates me no end as I had to cut costs, too, and that extra fee was too much. I'm sure many members do tax work and need that information just as much as, maybe more than, the section members. Yes, let's hope CNA comes through and soon!

Are you using ATX? If so, enter the state id KY for the state wages and withholding. Then the W-2 should show local wages and related withholdings. It's likely neither of these exist in the drop down box and you may have to add an extra line for the second locality. Ask the client if it's known whether a local return must be filed. County returns are not so common if at all. By entering at least client gets credit on Sch. A.

I saw this and printed to pdf so share with my LLC 'friends.' The current one (recall client, wife and mother-in-law)with issues has an agreement that I am certain was what they found online and is so badly lacking. I gave up C and S corps a couple of years ago. LLC's partnerships and even Sch. C's are in my sights now.

I knew that and was quite relieved and happy a few years ago when that came out. It made my move to nearly paperless a reality and so much nicer now!

In my opinion because you efiled the original, you could mail file the amended any time. All the data is computerized already because of the efile. If there is now an amount due, you could wait until April 15 but maybe not cut too close. That's what I would do, ymmv.

The Winbook sounds really great, especially for the price! I will definitely tell my husband about this one.

Thanks again, NECPA! No Iowa withholdings so all seems good now.

Thanks so much! It does show the taxable amount as $449 less than the gross and this is the same as the employee contributions in box 5. Is an Iowa return required? She's lived in Ohio for several years. It does show the State/Payer's state tax number as an Iowa number and the state distribution seems to have had an adjustment of another $450, the amount of the employee contribution. I'll check about Iowa filing. She would get credit in Ohio for Iowa tax paid. Thanks again - we're up too late...

New client has 1099-R, first year. On top it has Total federal employee contributions-$10,000 Total state employee contributions $15,000 SIMPLIFIED GENERAL RULE. In ATX is there something special about data entry? I see on the bottom space for annuity information. Do I need to ask client about start date, etc. for those fields? The only other one I've seen like this had an information sheet with all this listed. I checked Pubs. 575 and 939 and am further confused. It seemed that the client must use the 'Simplified Method' not the 'General Rule' as described but what is the 'Simplified General Rule' written in bold caps at the top of the 1099R? Always something new!

In my email with pdf (encrypted) returns for client review, I specifically state that no paper copies will be provided unless specifically requested. I always have a couple that do want that paper but the vast majority are fine with electronic versions. It is rare for a request for a printed copy after tax season. I offer first an electronic version which usually suffices.

I have SP2 so maybe the refurb at the price you mention is good. Do remember that you will likely want the detachable keyboard which will cost extra. I also got a great Bluetooth mouse that flattens to easy to put into the bag I have. I usually use that over the stylus as I'm more used to a mouse. Others like Eric will surely chime in and give you lots of suggestions. You might want to browse at someplace like Best Buy to see what screen size you like best and how the keys and functionality feel to you. I love the SP keyboard feel myself. Let us know your decision. My husband is looking around, too, for after his retirement.

I have a Surface Pro which can handle anything and I really like it. However it is over your price point. I got it to do all the things that you list and more and am very satisfied with the performance.

I got a similar email a couple of weeks ago with the requirement to reply immediately as whoever was going out of town, blah, blah, blah. I deleted it. I'm so sick of scammers!

I think if you input the numbers (and check the instructions), it may be possible that the client will qualify for a credit in arrears depending on the results of the tax return and 2014 actual income.

If on Schedule A, it would be unreimbursed employee expense subject to 2%, wouldn't it? As he is paying for an expense as an employee, that might be correct. Does the insurance cover him outside of that employment contract? If so, then I would think a Sch. C would work. Surely others will chime in. Can't be the first time!

I remember reading recently that this was one affected by service cuts and switched to automated phone trees - like shutting down e-services, another short sighted move, in my opinion.

Remember this one? So I emailed the son about my decision and reasoning. Yesterday he emailed me with a copy of his mother's signed durable POA from 2001 (I think around the time of diagnosis of declining mental health) naming him as contingent with all rights to sign, etc. "I'm thinking you may not have seen this POA before..." Right. Still an attorney 'feels' he could still 'help' his mother sign the returns. I assured him that I have no problem any longer with anything except an attempt to have his mother sign. He should sign and be done with it. We'll see what happens next! Can't believe in all our exchanges that he has never mentioned this. No, I didn't specifically ask as deceased dad told me that she did not have a POA. Guess he forgot.

I think the best thing is to look at the audit guide just posted here recently. From my recent experience and the replies on this board, the 1099A box 2 is essentially the 'selling price' of the property and used to determine gain or loss. The amount in box 2 of the 1099C is considered income but it sounds as if your client is insolvent. I think you use 982 for that. Others will chime in and be better guides but that recent post is great. I also found it on irs.gov by typing in cancellation of debt audit guide.

Yes, ATX did a fine job of managing the repayment calculations. It took me a bit to understand the correct process. Reading the instructions for the form actually helped!