Jack from Ohio

Be sure to hit the tab key after putting in the zero. If you do not move away from the field, your entry will not be saved in that field.

Catherine, try hitting the "esc" button when ATX clears a field you don't want cleared as it opens.

OldJack is correct. Corportation must treat the land as sold for the amount of the mortgage. If the mortgage was higher than the FMV, the Corporation will experience a gain and must report it so. When the bank sells the property, it will then issue a 1099C for the amount of the loss the bank writes off. This will be income to the Corporation. 1099A only indicates transfer of ownership due to abandonment or repossession. 1099C indicates the amount written off by the bank.

Anyone who believes it is anything more than another hidden tax (revenue generator) that no one can change (not even with a referendum) is sadly misinformed. Same with the IRS program. All states will soon be jumping on the bandwagon to tax us preparers. And we all know that businesses do not pay taxes, they pass the increased costs on to their customers. These statements reflect how I see it, In my not so humble opinion.

I am glad I live in Ohio.

You still have to register and pay the $100 fee. Being a CPA or EA only removes the necessity for the competancy test.

MD has found another way to impose a tax without any voter/taxpayer input! They are mimicing the IRS!!

Does this apply to out of state preparers that do MD returns?

I want to know if your little ones are allowing you to sleep yet? They are PRICELESS!! My youngest will be 24 in a couple of weeks. Seems like just last week we brought her home from the hospital!!

Agree with Jainen. I have witnessed it too many times in person. It becomes selective memory till the "rubber meets the road" and the evidence shows otherwise.

Ohio does the same thing for sales tax. If not filed timely they "create" sales figures usually in the 5 digit range then assess sales tax.

The recipe is long and a bit techno-geek oriented. The instructions would be several pages to be written to cover all the possibilities. I might just try to put something together. In the meantime, if anyone else needs assistance, I will be glad to help. Best way would be a phone conversation with whoever is needing the help at the office where the network is. I did hear a rumor from the technician that finally gave me the information I needed, that the ATX software was going to be released for tax year 2011 completely reworked. He use the words... "...no recycled code" which indicates to me a total different database as a foundation. Possibly SQL?? We can only hope.

If you want the exact instructions how to fix this problem, contact me. Here is a short part... ATX only uses Framework 2.0 Any Server 2003 or higher is not compatible with 2.0. Therefore, you cannot install the software on the server from the server. I told ATX they needed to hire more competant code writers. ATX is NOT supported to run on ANY Server 2003 or higher software. Send me a contact and I can help you work around the problem. Took me 8 weeks and 16 hours on with tech support to finally get the CORRECT answer. Follow my directions and you can use all ATX back to 2001. ATX needs to either rewrite the total software or get competant code writers to fix it.

First children?? Us Geek types are known for promoting efficiency!! One hospital bill, two kids! Buy one get one free! One price, complete family.

I live in Congressman Boehner's Congressional district. If he and the majority in the House cave in, I will make it a #1 priority of mine to get him fired in 2012. This is not a drill!

Pay the taxes due?? Just a thought....

More pie in the sky rhetoric.... In an effort to identify these "ghost preparers," the IRS later this year also will send letters to taxpayers who appear to have had assistance with their returns but lack tax return preparer signatures. The letter will inform taxpayers how to file a complaint against preparers who failed to sign returns and explain how to choose legitimate tax preparers. The goal of the letters is to protect taxpayers by ensuring that all paid federal tax return preparers are registered with the IRS, and sign tax returns they prepare and use an identifying number when required to do so. Compliance is a central part of the new tax return preparer initiative and the letters are one step in an ongoing compliance effort to ensure tax return preparers are following the new regulations. The IRS also is working to identify tax return preparers who make repeated errors and IRS personnel have had face-to-face meetings with thousands of these tax return preparers over the past two years. "...taxpayers who appear to have had assistance with their returns but lack tax return preparer signatures" I wonder if this group includes all those done by "Do It Yourself" software programs?

Post the link??

This article in the Kiplinger Tax Letter just make my point(s): Preparers who pass IRS’ competency test can prepare all types of returns, the Service says. Although the upcoming test will cover only the 1040 seriesof returns and their schedules, folks who pass the exam won’t be restricted to 1040s. They’ll be allowed to prepare other types of returns, such as Form 1120. In the future,the agency will expand testing beyond the 1040 and limit preparation of those returnsto people who pass the exams. But that won’t occur for several years. And remember, unlicensed preparers will have until the end of 2013 to pass the 1040 examination. In the interim, they can prepare any type of return if they have registered with IRS. The continuing education rule for unlicensed preparers will start in 2012, the IRS now says. They will have to complete 15 hours a year...at least 10 of them on federal tax law topics, three hours on federal tax law updates and two on ethics. Courses will be offered by providers approved by the IRS. None have been OK’d yet. Credit hours from courses already taken this year won’t count toward the 15 hours. Remember that lawyers, CPAs and enrolled agents are exempt from the 15-hour rule, although they still may need continuing education to keep their professional licenses. Also exempt from IRS’ continuing education rules: Those who don’t prepare returns in the 1040 series and supervised preparers who do not sign any tax returns. The Service will not let preparers take their fees from taxpayer refunds after all. Last year, IRS officials said that the agency was considering a proposal to allow e-filers to use a portion of their refunds to pay their tax preparation fees. This way, they wouldn’t pay anything up front. IRS has now changed its mind. Preparers will start renewing their special tax ID numbers in October for 2012, the IRS says. The agency has decided to switch to a calendar year cycle for renewals. Last year, the fee was set at $64.25 to cover the setup expenses of the registration system. The charge for 2012 is expected to be significantly less. (HA HA!)

If he was reimbursed, he did not actually pay the expense, therefore no deduction.

Yes, raise my fees. I also have the address of the local big box preparers to give the complainers. I expect to loose ZERO customers.

Just to be clear, my point of contention is having to pay for something to be done for the IRS, that I have already done for the IRS. My fingerprints have not changed, and a background check can be performed with the information they already have. It would be like the shop manager at your repair facility saying that you must pay a second time for tires (in order to keep your warranty in place) because their company cannot find the purchase information when you originally bought them. The annual renewal fees, etc are just additional business expenses. Again, none of these recent actions by the IRS will accomplish their stated goals. I have 160 personal clients even before mandatory testing and before I started the trek to get my EA. I am only pusuing my EA to circumvent the senseless and probably useless testing the IRS is hawking in order to keep my PTIN. My business was built on integrity, knowledge (I make my share of mistakes too) and the willingness to be up to date, continuing to be educated on the latest changes,(I have 3 times the number of CPE credits needed for an EA, and I am not even an EA) and informed. Most of the general public have no idea of what an EA is, they think that CPA is the holy grail of accounting, yet I could fill a book with all the instances of a "CPA" not knowing tax law correctly that I have corrected. Do you really think the new title given to those that pass the, as yet to be seen, tests, will mean anything to the public at large? You can believe that if you wish. Real world experience tells me that it is highly unlikely that any of those operations will ever be found, fined, shut down or even have their wrist slapped. The IRS cannot yet match all the documentation they currently require. There are so many examples of the incapability of the IRS to currently handle what is on the books. BTW, Pacun was the one that suggested the 50 or less client preparers will be forced out of business.

That is pretty wide brush you are painting strokes with.... Do you have your car(s) repaired only by a Dealership Certified Master mechanic? Unless you answer yes, you have no basis for making your statements about EA's and CPA's as if they are the only ones who study, learn, train and are knowledgable enough to properly prepare a tax return. All the IRS latest "licensing" actions will NOT stop those who don't care from hafl-a _ _ doing tax returns and not signing them. It is an effort in futility. For the record, I was ASE and 3 car manufacturers Certified Master Auto Technician for 27 years before changing careers. The "BIG THREE" auto companies all honored the same certifications, and I had to retest and re-certify every 5 years. Do CPA's and EA's have that retesting to re-certify? The IRS by any business standards is poorly run, administered and operated. Also, if you take your car to an independent shop, it is no different than an unlicensed preparer doing tax returns. For the record, I am scheduled to re-take, and I WILL pass the third EA exam at the end of this month.

If that is the definition of administering something properly, then there is no complaint about how our government is spending our debt? I am certain that "a lot of people like it" would fit the frivilous and reckless spending of trillions of deficit dollars...??

I stick by my answer from personal experience in audit situations. NO. Separate all the way, or the IRS auditor may disallow any deduction paid with your personal card. Seen this live and in person. Get a second card. What you do with the "perks" is irrelevent.