Lee B

I think the rules for a QCD under $250 are the same as for a charitable contribution deducted on Schedule A

It's your clients responsibility to inform you. Most acknowledgments that I have seen don't indicate it's a QCD The fiduciaries send clients a letter with the QCD details. Some months ago when we discussed Tax Organizers, most posters didn't use them and didn't like them. This is another reason that I use them and make my clients fill them out. In fact I won't accept their annual tax documents without a completed organizer and a signed authorization letter.

Copied from Forbes" "The State of South Carolina has issued a request for proposals for an independent accounting firm to perform a forensic accounting review of cash and investments held in the state treasury as well as a review of cash and investments found in the state’s historical annual comprehensive financial reports. The main target? Finding out where an extra $1.8 billion in mystery money came from." Unbelievable! My mind boggles

I personally do 5 QCDs every year and I have always received a donee acknowledgement from each of them (all over $250). I also have a client who makes 3 sizable QCDs every year who also receives donee acknowledgements. The account fiduciary is following your instructions. They are not verifying the validity of your donation. If you ask, the fiduciary will provide you with a copy of the cancelled check. "Get a receipt QCDs are not deductible as charitable contributions on Schedule A. But, as with deductible contributions, the donor must get a written acknowledgement of their contribution from the charitable organization before filing their return. In general, the acknowledgement must state the date and amount of the contribution and indicate whether the donor received anything of value in return. For details, see the Acknowledgement section in Publication 526, Charitable Contributions. For more information about IRA distributions and QCDs, see Publication 590-B, Distributions from Individual Retirement Arrangements (IRA).

It's ironic because if he was an employee, this kind of injury might be covered and surgery paid for by Workers Comp Insurance. For example, when I worked as a Controller for a Food and Beverage Wholesaler, two of my office employee's had Carpal Tunnel and the surgery and time loss was covered by our Worker's Compensation Insurance. Obviously they used their hands for many personal activities

Consumer Reports rates Avast and ESET tied for 4th in their ratings. I don't think the ratings in Consumer Reports are bought and paid for.

Abby, P C magazine rates Avast as # 6 in their rating of the top ten antivirus programs.

I haven't used a third party antivirus in years. The antivirus app included with Win 10 and Win 11 is good enough. Most malware incidents happen due to people clicking on the wrong links or other questionable decisions. According to several tech articles that I have read, even the very best antivirus programs can only stop about 80% of malware attacks.

What virus protection program are you using?

I used 0patch with my Win 7 system for years. It worked well and I had zero problems.

Copied from today's AICPA Town Hall: "Earlier this month, Maryland Attorney General (AG) issued an opinion on whether assistance by a CPA with BOIR would constitute the unauthorized practice of law (UPL). Determined that it’s fact specific and provides guidelines • What is NOT UPL: • Raising awareness • Guiding clients through FinCEN’s FAQs/Compliance Guide • Filling out the BOIR based on client information • Answering client questions where the question and answer “do not call for legal knowledge or skills” • CPA “generally should not answer a BOIR-related question for a client where there is uncertainty as to the answer and resolving that uncertainty would require legal knowledge, skill, and judgement”

The return may have been flagged due to all the tax credits on the return which may be considered to be an indication of a fraudulent return?

I disagree. The IRS still has way too many old systems that don't work together. They are currently scrambling trying to update all of these systems and get things under control. There is no way to tell if they will be able to accomplish that, but they are trying. Things could actually be much worse which would be a disaster of epic proportions.

https://www.gao.gov/blog/artificial-intelligence-may-help-irs-close-tax-gap#:~:text=AI models are already being,estimate of the tax gap.

According to the GAO: "AI models are already being used to help select a representative sample of the taxpayer returns to audit. AI is also being used to identify returns that are more likely to have errors and are more likely to owe additional taxes. After these audits, as described above, IRS creates an estimate of the tax gap.Jun 6, 2024"

TIGTA audits show that over 20% of all EITC claims are fraudulent. There is a lot of Congressional pressure on the IRS to reduce fraudulent claims of tax credits which is why this kind of stuff happens, unfortunately.

Something in their enhanced electronic screening process triggered this response, which requires a live IRS employee to review the return and take action. Due to all the fraudulent credits being claimed, this is an unfortunate part of filing personal tax returns these days. Their long range solution is to incorporate AI into their enhanced electronic screening process. Gosh, I wonder if the AI will have hallucinations?

Correction - This was the annual report from the National Taxpayer Advocate not from TIGTA.

Copied from the annual TIGTA Report "As of April 2024, the IRS was taking more than 22 months to resolve identity theft victims’ assistance cases, plus several weeks to issue refunds, and it had approximately 500,000 unresolved cases in its inventory" The IRS is still playing whack a mole

Another simple option would be for the Square Dance Club to buy the facility and have your friend cosign the loan

See Pub 4681 - page 14

If your friend just rents it to the square dance club, the situation would be much less complex. Who knows 5 or 10 years from now how relationships might change, In addition, your friend could rent the space to anyone. Why make it so complicated?

Quote from the FINCEN BOI Fact Sheet: "Reporting companies have 30 days to report changes to the information in their previously filed reports and must correct inaccurate information in previously filed reports within 30 days of when the reporting company becomes aware or has reason to know of the inaccuracy of information in earlier reports."

Years ago, I was successful negotiating, however I had the same salesperson for many years. He did have to get his manager's approval. I was able to get the early renewal discount in November several times.

Do the buyers need to maintain a good working relationship with the seller because if the seller ends up angry as a result of a % allocation, it might cause problems for the buyers.