Lee B

Oregon has published an online list of about 2,000 delinquent taxpayers who owe more than $50,000. The grand total is $332 Million. If the delinquent taxpayers pay or make arrangements to pay the balance due then their names are removed from the list. Oregon passed the law back in 2019. None of my clients are on the list.

Temporary Relief provided to taxpayers born in 1951, to RMD requirements for beneficiaries and RMD/Rollover confusion. https://www.com.currentfederaltaxdevelopments.com/blog/2023/7/14/irs-defers-proposed-regulation-rmd-requirements-by-at-least-one-year-provides-temporary-rollover-relief-to-those-born-in-1951 Secure 2.0 definitely needs a CPE class of it's own!

I did one over ten years ago but it was only 5 or 6 months late.

Decades ago after 4 years in the Army, I worked at the Eugene Postal Sectional Processing Center for several years before I decided to go back to college. Even back then in the 1970s theft by postal employees was a problem. Employee theft has been one of the primary focus of Postal Inspectors for a long long time.

The way I learn things is by reading. Others learn verbally which is why they prefer in person seminars. When i used to go to in person seminars I would follow the presenter from topic to topic reading the handout material and adding notes. Here in my state the CPA in person seminars now cost about $50 per CPE hour. Like Sara, I used to belong to NAEA, but even though I am in an area with over 300,000 people there has never been a local EA chapter. The NATP doesn't have a presence in the Northwest so that leaves me with self study or online classes.

"Last month, U.S. government safeguards identified an intrusion in Microsoft's cloud security, which affected unclassified systems. Officials immediately contacted Microsoft to find the source and vulnerability in their cloud service," wrote Adam Hodge, the acting senior director for press at the White House's National Security Council, in a statement. "We continue to hold the procurement providers of the U.S. Government to a high security threshold. Tech giant Microsoft disclosed on Tuesday evening that it discovered a group of Chinese hackers had broken into some of its customers' email systems to gather intelligence."

My first choice is self study preferably thru The Tax Book. My second choice is online. I haven't done in person since 2019.

"In the process of drafting conforming amendments, the Act inadvertently deleted the provisions in the Internal Revenue Code that permit catch-up contributions. As a result, catch-up contributions, either pre-tax or Roth, will not be allowed after this year. To address this error in the legislation, Congress would need to pass additional legislation to reinstate the catch-up provisions. Although it seems that Congress will act on this, the time frame is unknown. " Assuming that Congress fixes this glitch, catchup contributions made by employees whose wages exceed $145,000 will no longer be tax free! Watching laws being created is like watching the ingredients going thru a grinder to make sausage - a frigging bloody mess!

Surprise, surprise, automation isn't perfect

You can use the following private delivery services for filing tax returns and mailing payments to the IRS: Important Note: The delivery addresses are different. The attached link has a link to those addresses. https://www.irs.gov/filing/private-delivery-services-pds

I have noticed that a number of stamped letters and large envelopes are being processed by the Postal Service without a postmark. One of my business clients and I mail documents and reports back and forth every month. Several times we have reused a large envelope 3 or 4 times before the stamps were cancelled with a postmark

Margaret, You sound like an energizer bunny. Just reading your post made me tired.

Some accountants here in Oregon have had the client's IRS checks returned by the USPS as "undeliverable." The checks were mailed to the correct Cincinnati OH P O Box. Several accountants who called the IRS were told, "yeah it's been happening and to have their clients mail the payments again.

I have started reading articles about the SECURE 2.0 Act which went into effect January 1, 2023. Now that I have started reading, frankly I am amazed at how many changes are heading our way. We have been discussing QCDs for about 4 years now. Now we will have one time Charitable Gift Annuities which will count towards fulfilling the annual RMD of an IRA. "The SECURE 2.0 Act of 2022, which was included in the $1.7 trillion omnibus spending bill signed by President Biden on December 29, 2022,[1] has a small gift for charities and individuals over age 70 1/2 who are willing to transfer up to $50,000 to a charitable remainder trust or into a charitable annuity arrangement." There will also be a significant expansion of distribution penalty exceptions and repayment options. Our life is going to be more complicated. I need to find some CPE that covers all of the changes.

This is the correct approach. So often we take mental detours into alternate realities

I should also add we take two vacations every year, the last two weeks of April and October to Kauai.

I work about 3 hours per day, then I take my dog on a walk. The rest of my time is split between yardwork, maintaining and cleaning our house. My physical activity is limited due to a moderate case of nerve pain in my feet. So my late afternoons and evening are mostly spent reading books. Over the years I have read many thousands of books.

In my experience, as long as the reported revenue exceeds the $ amount reported on the 1099 NEC, it will not cause any problems.

Don't know how it works in Virginia, but in my state an Employment Dept audit would have caught this and forced the mother's company to reclassify her son as an employee. The penalties and interest for the amended quarterly and year end payroll reports would be substantial ! Over the years I have participated in at least 100 workers compensation audits. Most of these audits were a simple reconciliation of premium against payroll reports. However between 10% and 15% of these audits were detailed enough that the auditor would have caught this. Hope he is registered as a business and files his federal state highway/road taxes. From time to time he should pick up jobs from other companies!

Thanks Eric, that is good news. In today's world I find it to be safer to be somewhat paranoid, so I changed my password.

I would just add the fuel and insurance expenses to the $ amount on the 1099 NEC for the total revenue, then deduct the fuel and insurance as expenses. Actually this would be a better presentation since the IRS is looking for revenue to equal or exceed the 1099 NEC amount. I wouldn't worry about correcting the 1099 NEC for 2022. However I would advise your client to have these expenses added to his 2023 1099 NEC.

Our email addresses are readily accessible. We will need to watch and see if our individual email addresses start getting spammed. Perhaps our email addresses should be treated like passwords?

In all the years that the third party designee has existed, I have always filed in the details but I have never used it

"WASHINGTON ― The Internal Revenue Service warned taxpayers today to be on the lookout for a new scam mailing that tries to mislead people into believing they are owed a refund. The new scheme involves a mailing coming in a cardboard envelope from a delivery service. The enclosed letter includes the IRS masthead and wording that the notice is“in relation to your unclaimed refund.” Like many scams, the letter includes contact information and a phone number that do not belong to the IRS. But it also seeks a variety of sensitive personal information from taxpayers – including detailed pictures of driver’s licenses – that can be used to by identity thieves to try obtaining a tax refund and other sensitive financial information." Scammers are endlessly creative

Since the dealer has to report the VIN, the name and TIN of the buyer to the IRS, which they won't do if the dealer is claiming the credit on a leased vehicle our clients may get confused but if the IRS can keep track and match the vehicle info with our clients tax returns there shouldn't be any double dipping.