Lee B

On the other hand the Social Security Benefits paid to people at this level of AGI wouldn't have been taxable.

Most of my clients are business clients, however for my non business clients I insist of payment at the same time as their efile authorization, no exceptions. I learned that lesson my second year in business when I let a business client get several months behind. I lost $1,000 (back when that was a significant amount of money) when my client filed bankruptcy. He ending up keeping a really nice house on the Mckenzie River and left everyone else in the lurch to the tune of over $500,000. Apparently he had a good Attorney because he was back in the same business under a different name as soon as his Chapter 7 finalized.

Pub 15 B - Are you referring to Education Assistance? Of course the employer can send and pay for an employee to go to any kind of job related training.

There are pros and cons for both ATX and Drake. It really depends on what kind of practice you have and what's important to you.

See the post titled, "What will happen to Drake?"

So if you hate Quickbooks, what do you use instead?

Excerpted from Drake's email announcement: "I hope this finds you well as we all head into fall and get ready for the upcoming tax season. I want to share with you that Cinven, who originally invested in Drake Software in early 2021, announced an agreement today to acquire the tax preparation software company TaxAct. Today’s announcement also mentions that Drake and TaxAct will be brought together under a single holding company through our common ownership by Cinven. Drake and TaxAct will continue to operate under their own brands and, collectively, we will scale our offerings and enhance our ability to provide comprehensive, industry-leading services. Over time, we anticipate that exchanging insights with another reputable, experienced tax software brand will strengthen our business and suite of professional solutions that our valued customers rely on to run successful tax practice."

"Only "Send Submissions" for 1040 (both State and Federal) will be affected by this shutdown, all other services such as "Get Acks" and all state services will be available after the shutdown."

Copied from IRS Tax Topic 601: "Have a qualifying child who meets the age, relationship, residency, and joint return tests, and isn't treated as the qualifying child of another person. Or, if you don't have a qualifying child, you must: be age 25 but under 65 at the end of the year. However, for 2021, there is no maximum age limit for eligible workers. In addition, for 2021, the minimum age limit is 24 years of age for a full-time student, 18 years of age for a qualified former foster youth or a qualified homeless youth, or 19 years of age for all others; not qualify as a dependent of another person; and live in the United States for more than half of the year."

Earned income tax credit for 2021 Dependents 0 Maximum AGI (single or head of household) $21,430 Maximum AGI (married filing jointly) $27,380 Maximum EITC $1,502 Big Reduction for filers with no dependents Earned income tax credit for 2022 Dependents 0 Maximum AGI (single or head of household) $16,480 Maximum AGI (Married filing jointly) $22,610 Maximum EITC $560

I always wait until after Thanksgiving and never have any problems. By then the early rush is out of the way and the technical problems should be mostly resolved.

I hope it helps because I have CP 2000 that I replied to over 10 months ago. I received a letter back in April telling me they needed more time and I am still waiting.

For those clients who want to use the 100% Bonus Depreciation deduction to buy a new Cadillac Escalade they have until December 31st: "But starting next year, the deduction falls to 80%, then by another 20 percentage points each year until it dwindles to 20% in 2026. In 2027, the regular, less lucrative depreciation schedules restart. "

Yes, the IRS and the state DORs make too many mistakes and when they do we can explain the situation to our clients. I remember 5 or 6 years ago I obtained a $35 refund for a client from Oregon, no fee to my client since they are one of my larger monthly writeup/payroll/tax clients. Today, it's unlikely that I would do that. Today, I would explain to my client that it would be an exercise in futility. For a larger amount, let's say more than $200, I would try, but I would tell my client that it will take a long time and it's uncertain if they will get the refund.

All we can do is admit that we're not perfect and we make mistakes too.

Lion, we being accountants are used to being precise. Given the stressful conditions the IRS and other governmental agencies are dealing with, "reasonably close" may be all we can expect.

I had several instances 3 years ago both federal and state where I had to recalculate the interest amounts in order to explain to my clients their refunds, due to no explanation from either the IRS or the ODR. In these cases my interest calculations were within one dollar of what my clients received.

Unfortunately our elected representatives put off dealing with extenders until very late in the year or even worse early next year.

Yeah, Uber, Lyft and other gig tech high flyers spent Millions and Millions of dollars on misleading ads getting that passed. Money gives you power

You need to fill out Part III of Form 8606. In some cases you can avoid the penalty but not the tax.

Given the overall current circumstances that the IRS employees have to work under, it must be a really frustrating place to work.

Yes, underpayment of SUT, Workers Compensation Insurance Premiums & other state and local taxes plus penalties and interest.

I did a little research into that and the TMP is now the "Partner Representative" which is not a legal designation with respect to making financial decisions. The Tax Advisor has a lengthy article about the issues: https://www.thetaxadviser.com/issues/2019/jan/appointing-partnership-representative.html The real question is, "Can a 40% partner designate themselves as the "Partner Representative" when the other two partners aren't really paying attention?

"The IRS has initiated a pilot program that now requires Practitioner Priority Service callers to repeat phrases before being transferred to an IRS assistor. This pilot uses speech recognition to help ensure a live person is calling and not a mechanical device. The new process is intended to improve customer service by reducing unnecessary wait times" Well this would definitely short circuit CallENQ

Yeah, I remember when I used to go thru Form 1040 with my clients page by page. Now I use Drake's 3 year comparison summary plus Schedule C & E