Gail in Virginia

I appreciate the warning!

Judy, I think that I did the application for reporting agent some time ago, but right after that the account that we were going to do that with changed hands and we never actually did anything as a reporting agent. So that might be the difference.

Judy, I just completed the application. So I don't know what the problem is. But thanks for the reminder that I needed to do that.

Have you looked at allocating part of the APTC to the children? It is my understanding that the 1095 can be allocated in any manner agreed on by the parties involved. With the kids income as low as it most likely is, if you allocate 25% to each kid and 50% to the parents, how does that affect their bottom line tax wise as a family? Or if you give more to the kids and less to the parents? Or less to the kids and more to the parents?I think that you may have an opportunity to save them some money based on the allocation chosen.

I usually at least look to see if I can tell what they were charged for tax preparation the year before. Just for information, not necessarily to decide what to charge this year.

I like espresso and kittens.

I am sorry for your loss, but I am glad that things are going well for you otherwise in retirement. Although, with that many animals to tend to I am not sure that qualifies for retirement.

I usually tell the client that the IRS is more understanding and helpful if the taxpayer talks to them rather than a paid professional, and that therefore they should call personally to set up an installment agreement.

Aren't wife and off the same position for most men?

She should be able to call and request that they explain the changes they have made, and with her permission you should be able to listen to the call. OR you can get a signed Form 2848 and call and request that the change be explained to you. OR you can submit the 2848 to the CAF center, wait a week or so, and look at the account transcript on line which should explain the changes. If they have changed her return to a refund, I am not sure why you need a 1040X to get her refund. They should send that automatically. Of course, they usually include an explanation when they notify you that they have changed the return. Are you sure thay you saw the entire letter - front and back?

My condolences also. I hesitate to chime in, but I wonder if the fiduciary, whether executor or administrator, should file Form 56 and then sign form 2848 to allow you to continue as POA. You are not the fiduciary, but it is there responsibility to appoint someone to represent your step-dad. But Catherine and Lynne are usually correct, so I may well be making this too complicated.

Thanks, Catherine. I learned something today. Now my head hurts and I want to go home.

This whole thread is full of ship.

Ship happens

Not sure where $300K comes from. Basis was $250K apiece; paid partner $400 for his share; looks like increase in basis of $400 so that TP now has $650 invested in property. This ignores any changes to basis due to reporting depreciation since don't have figures on that. What have I missed?

I like the meme except he has a paddle. Most of the time I don't feel like I do.

Prayers, Lion! What a terrible time for such terrible news!

This does not, however, necessarily mean the IRS will get it right. I have had letters go to clients who properly filed 2014 K-1's on their 2015 returns due to the fiscal year, who then received letters from IRS adding that income to their 2014 return. So far when that has happened, a simple letter and copy of the K-1 has resolved the issue. It is annoying, and apparently not handled completely by computer. I had a 1041 with 2 beneficiaries who received K-1s - one got a letter and the other didn't. Go figure.

What happened when the father took the custodial parent to court - did the judge say the mother had to sign the 8332?

Is that your fault? Did you cause the information to file the returns on extension to come in late? And with some of my clients, a deadline is merely a suggestion - even if I sat here until October 17 waiting on their information, prepared to knock myself out to file it, they might not bring it in until the first of November.

Why should the clients worry? They know they are doing it the way "everybody" does because their barber (or neighbor, or local person in same business) told them so.

I have not actually had anyone able to take the credit because of the minimum wage portion of the provision, BUT it is my understanding that the carry-back/carry-forward rules only come into play if there is no income tax in the current year. In other words, the credit applies first to 2015 and is not refundable; so if it is not used up you would carry any remaining credit back one year and any left after that may be carried forward for twenty years. IRS has informational sheet at IRS page. You might find that helpful.

I understand why you are questioning this - it is almost NEVER this straightforward.

I am curious about the 360deg camera when driving. Does it record? How is it mounted? I have often thought it might be helpful in the event of an accident to have a record to back up your statement, but I have not seen technology advertised for this purpose.

I thought that there was a difference in how you became a registered vs licensed CPA.