Lee B

Here is one theory that shows up in an online search: "The IRS sends letters to both to make sure both spouses know about the liability because, on a joint return, each of you is liable for the full amount. If they only send a letter to one spouse, it's possible that spouse would not pay the tax and would also not tell the other spouse about owing the money."

"ChatGPT, the AI chatbot that's taken the world by storm, has already conquered numerous tests–the Wharton MBA exam, the Bar exam, and several AP exams among others. But the talking bot met its match when Accounting Today ran it through the CPA exam as an experiment: ChatGPT failed utterly in all four sections. — The experiment took place at the Arizent office in New York City's financial district on April 13 in collaboration with Surgent CPA Review. We used two laptops, each running a separate ChatGPT 3.5 Pro account (metering on free accounts, or on GPT 4, would have made the experiment impractical). One laptop ran the BEC and FAR section. The other ran the REG and AUD section. When all test sections were completed, its scores were: REG: 39%; AUD: 46%; FAR: 35% BEC: 48% The results indicate ChatGPT did not pass any part of the CPA exam." I wonder how ChatGPT would do on the EA Exam?

I was able to login with MySocialSecurity User Name and Password since I created it back in 2016. Then I had jump through some identity verification questions and change my password. Now I have to wait for an Upgrade Code in the mail.

Rather than giving money back to her church, she can pay less social security by reducing the amount she receives from her church.

In Oregon, online filing was required. I had to enter the information into the Oregon Department of Revenue website. The setup of the website was kinda confusing, fortunately the information required was limited.

"New York Attorney General Letitia James announced Thursday that taxpayers who were duped by TurboTax’s owner Intuit into paying for free tax services will soon be receiving checks from the $141 million settlement. More than four million taxpayers nationwide were affected and will receive a check sometime in May from the multi-state settlement." Yep, Intuit is certainly all about maximizing their profits!

"The trio of bank failures since March has cast a pall over KPMG’s lucrative business as the largest auditor of the US banking sector. Questions over the quality of its work and independence have mounted in recent days, following the release of a Federal Reserve report into the collapse of Silicon Valley Bank and the forced sale of First Republic. The Big Four accounting firm was auditor to both banks, as well as to Signature, which was seized by regulators in March. In all three cases, KPMG gave the banks’ financial statements a clean bill of health as recently as the end of February 2023." "KPMG alumni have also gone on to play significant roles in the banking sector, including at former clients. The chief executives of Signature and First Republic were both former KPMG partners." IMHO, it's been clear for many years that most large CPA Audit Firms are not truly independent from their clients. Remember Enron and Global Crossings

Tom, have a great vacation. This is my first day back to work after two weeks off.

Tom, you must have too much time on your hands to thinking about this

The cost to prepare one Form 1065 thru Drake's PPR would be $345 + $49.99.

In the next 8 months there will many online articles abut this topic which will analyze all the in and outs

"Intuit to cease support for QB Desktop 2020 at month's end"

Are you referring to Form 8822-B? The current revision is dated December 2019? The related penalties that I know about are related to unpaid employment taxes, especially unpaid Trust Funds?

Yeah, I wish our site would allow editing of our posting up to 20 minutes later.

The information should be reported in Box 20 code Z which should have a supplemental page with the details that you need.

I already know that my Win 10 desktop will not run Win 11.

My backup computer is still Win 7, but I rarely use it. It won'run my tax software, my payroll program or my accounting program. Even my browser can't be updated, so I can't use it for much of anything.

The beta version of Win 12 was released last month. The full version of Win 12 is expected to be released mid 2024. b

No, but it does say something about our younger generations who do everything on their phone. Supposedly, the website was only up for 2 weeks and has now been taken down.

"More than 20 years ago, the IRS struck a deal that gave most Americans the ability to prepare their taxes online for free. Today, only about 3% of eligible taxpayers use the service. Tax Heaven 3000 takes users on a series of dates with Iris, who will ask questions to help them complete their federal tax return. The game's creator says the aim is to punch up at the tax prep industry, and show how unnecessary it's become." It will only prepare your 2022 Federal Tax Return and works best for the single filing status.

I am still on Win 10 and I have had no issues.

"Windows 10 22H2 will be the final version of the operating system, Microsoft said in a blog post on Thursday. Moving forward, all editions of Windows 10 will be supported with monthly security updates until October 14th, 2025, when Microsoft will end support."

We all know how the TCJA significantly reduced the deduction of Home Office expenses. Just read an article that a workaround was to use an Accountable Plan to deduct the same expenses. Just set up an Accountable Plan and reimburse the S Corp or C Corp owner/employee on a monthly or quarterly basis for all of the same expenses that you would deduct for a Schedule C Home Office including mortgage interest, utilities and depreciation. I have never run across this idea before. Just wondering what everyone thinks of this approach?

"Thanks to Inflation Reduction Act resources, the IRS delivered dramatically improved service in Filing Season 2023.The IRS achieved 87% Level of Service, exceeding Secretary of the Treasury Janet L. Yellen’s goal of 85%. The agency also answered 2 million more calls through live assistance, cut phone wait times to four minutes from 27 minutes, served 100,000 more taxpayers in-person, digitized 80 times more returns than in 2022 through the adoption of new scanning technology, cleared the backlog of unprocessed 2022 individual tax returns with no errors, launched two new digital tools, and enabled a new direct-deposit refund option. This marks a vast improvement over 2022, when, due to a lack of resources, the IRS hit just 15% Level of Service to taxpayers and millions of refunds were delayed for months." I made several time consuming calls regarding Form 941 last year , but no calls this year. I still have a unresolved CP 2000 that I originally responded to by mail back in December 2021?

Banks that I am familiar with will reroute deposits, but they will not reroute debits unless you give them a list of outstanding checks and other debits.