Lee B

This is a welcome change, for so many years you couldn't rely on examples in IRS Pubs and etcera.

The Building my office is in was broken into last night. Several other offices were broken into, not much damage. They tried to break into my office, fortunately I have a very sturdy door and very good locks so they didn't get in.

What is an email overage?

I started in 1992 with Parsons Technology too

Unused Funds Cannot be Refunded "In IRS Information Letter 2020-0023, the IRS responded to a request from a participant who had stopped making contributions to her dependent care FSA under the COVID-19 relief available to Section 125 cafeteria plans and asked whether any exception would allow a refund of unreimbursed amounts. In response, the IRS explained that while IRS Notice 2020-29 permits Section 125 cafeteria plans to be amended to allow participants to make certain midyear election changes, the relief does not modify the rule that an employee cannot receive amounts from a Dependent Care FSA other than as reimbursement for dependent care expenses. While unused amounts cannot be refunded, the existing regulations do permit Dependent Care FSAs to offer a grace period. A grace period allows participants to spend unused funds during the 2.5 month (75 day) period following the end of the plan year. Any amounts remaining at the end of the grace period are forfeited. Adding a grace period requires a plan amendment, so employers with questions should consult their benefits adviser."

The ARPA and Rev Proc 21-49 apply. The RRF is considered to be part of the covid relief programs along with the PPP Loans.

They may be paranoid about other people having access to their EIN?

Judy, it sounded like you were working way too many hours, not getting anywhere near enough sleep. I have been there too many times in years past, and it's the classic formula for burn out. The only cure I have ever found is time away from work etcera. About 40 years ago I way overdid it and ended up depressed on top of the burnout. It took me 6 or 7 months to recover that time.

Browser updates are not usually released to everyone all at the same time, so some users will have to wait a little bit.

If the IRS says your client owes more money don't wait too long.

The latest versions of Chrome: Platform Version Release Date Chrome on Windows101.0.4951.412022-04-27 Chrome on macOS101.0.4951.412022-04-27 Chrome on Linux101.0.4951.412022-04-27 Chrome on Android101.0.4951.412022-04-27 Chrome on iOS101.0.4951.442022-04-26 Active exploits of all browsers are at an all time high. No matter what browser you use keep it updated.

According to the Taxpayer Advocate Blog: "Millions of taxpayers have received math error notices adjusting their returns, including the amount of recovery rebate credit (RRC), child tax credit, or other items claimed on their return. As of April 7, 2022, the IRS had issued 9.4 million math error notices of which 8.3 million of these are related to the RRC and the child tax credit." https://www.taxpayeradvocate.irs.gov/news/nta-blog-math-error-notices-what-you-need-to-know-and-what-the-irs-needs-to-do-to-improve-notices/ I wonder how many Millions of phone calls and letters this will trigger

The investment world, the intense focus on quarterly results and monthly updates has monetized everything. Our Federal Reserve is far more concerned about keeping Wall Street afloat and soaring than how the average working person is doing.

I will definitely agree with you about the Accounting Program. I used it for year end payroll stuff for several years and dropped it. It just wasn't productive time wise and the the support was very inexperienced. They had no clue about Oregon's payroll peculiarities. Once this year I did get someone inexperienced with the tax program, but she was able to research the issue and help me, although I was on hold for 5 minutes. On balance my experience with Drake this year was still good. Not excited about the $ 300 increase. Looking forward, my concerns are first with a software/technology company, cutting personnel related costs are the quickest way to juice the bottom line. Second, the software looks outdated/not modern, which means the program will get totally rewritten and perhaps outsourced to India? Third in 5 years I expect it will cost between $2,500 and $ 3,000 to renew. I am not going back to ATX and there aren't a lot of other choices at this price point.

Just received another letter saying they needed 90 more days.

Last year Drake's standard price was $1,625 with a $ 400 discount for renewing by May 31st. This year Drake's standard price is $1,825 with a $ 300 discount for renewing by May 31st. So last year I renewed early for $ 1,225 and this year if I renew early, it will be $ 1,525 a $ 300 increase. A little over a year ago an International Private Equity Firm named Cinven made a large investment in Drake. https://www.cinven.com/media/news/cinven-to-invest-in-drake-software/ https://www.cpapracticeadvisor.com/tax-compliance/news/21209285/private-equity-firm-cinven-to-invest-in-drake-software Private Equity Firms like Cinven expect an investment like this to pay off 5 to 7 years so I expect we will see a number of significant changes at Drake. I really hope they don't start cutting their level of support!

This is like picking lint out of your navel

Basis minus depreciation equals adjusted basis. Sales proceeds minus adjusted basis equals gain. Gain minus accumulated depreciation equals Capital Gain which flows to Schedule D The accumulated depreciation reported on the 4797 flows to Form 1040.

The average Oregon Home Sale Price in 2005 was $282,000 The average Oregon Home Sale Price in 2021 was $447,000 If the house was located anywhere in the Willamette Valley, the % increase would have been higher.

That's not the case in Oregon. Here the housing market up substantially since 2005.

"The payment amount will be debited in a single transaction. No recurring or partial withdrawals will be made." "If a payment is returned by your financial institution (e.g., due to insufficient funds, incorrect account information, closed account, etc.) the IRS will mail a Letter 4870 to the address we have on file for you, explaining why the payment could not be processed, and providing alternate payment options. In the event your financial institution is unable to process your payment request, you will be responsible for making other payment arrangements, and for any penalties and interest incurred."

I am also with Drake and my acks have been coming back very quickly, so perhaps the turnaround problem is with the FTB.

Judy, take the rest of the day off, you have earned it !

Yeah, I think last year's filing delay to May 15th didn't help.

See Pub 547