RitaB

You may be on to something, but to claim the interest, the party would have to actually pay the interest. Did both parties pay interest? (Forgive me if I am asking too basic a question there.) From: https://www.irs.gov/taxtopics/tc456.html You can claim the deduction if all of the following apply: You paid interest on a qualified student loan in tax year xxxx You are legally obligated to pay interest on a qualified student loan Your filing status is not married filing separately Your MAGI is less than a specified amount which is set annually, and You or your spouse, if filing jointly, cannot be claimed as dependents on someone else's return

I like meeting with my clients, too, and we do plenty of yakking at both drop off and pick up as I am the only one here. Too much, but I like it, so it's fine. Some days it feels like I get nothing done between 8 and 4 because of the visiting, and I get started "working" when people clear out. I can't stand the chatter while I work, and want quiet. I commend all of those who can chat and work at the same time. But I'd make too many mistakes, I think.

I don't make appointments, either. I find that the more flexible I am with that type thing, the less stressed I am. Drop off anytime, we'll talk as necessary, and I'll call you when it's ready. I also tell them, if the door is unlocked, whether during official hours or not, come on in. I used to keep the door locked on Saturdays, and always had somebody banging on it like they might die. I didn't find any bodies when I left, so I guess not. Now I leave the door unlocked on Saturday, and fewer people "have to" see me on Saturday. Seems like the way it works.

OMG, I hope you're right. I love so much of this. You have captured my sentiments so accurately after being on hold with them yesterday for one hour and forty-four minutes. That part I highlighted, though, that sounds even more serious than me telling my client's secretary, who was trying to set up an installment agreement, per his request, that he filed a Form 1040 jointly with his wife. If we go to the crossbar motel, will we still be able to talk to people here? Is there interweb in the slammer? Don't do it, Tom. .

I will be sure and take your advice under consideration. Happy Thanksgiving to you as well.

OK, now I'm looking at a source that says opens 1/24/2017. Sorry, will try to research further if someone else doesn't before I can.

Closed for individual returns 11/30/16 through 01/19/2017. Opens 1/20/2017.

This is what I took it to mean. I'll see what she says tomorrow about why she failed at setting it up. Not that I will learn anything from what she says. I know she was texting me questions while I was watching a Webinar: Is the form 1040, 1040A, or 1040-EZ? Did he file jointly, separately, or HOH? It was really baffling to me that she either did not have the return there, or couldn't figure out the basics.

Yes. I think I have learned my lesson on this one. I hope this helps some fellow tax pro. Orange you glad you know??

Yes, that is my understanding as well, they have to call so that IRS can combine the years. (I think the limit may be $50,000). And, yes, in that first agreement, they agreed they'd pay on time in subsequent years. They obviously did not do that. It makes perfect sense to me that they have to call. And be grateful as all get out for the consideration they are going to be given.

New client who is completely helpless, mainly because he wants to be, has an Installment Agreement for 2014. He needs one for 2015. I told him five weeks ago to call IRS, as directed at the top of [this] Form 9465 [at the number I have highlighted in orange, no less]. https://www.irs.gov/pub/irs-pdf/f9465.pdf Well, he sent his secretary in two weeks ago, because he is too busy to fool with these things, saying he called, and IRS told him to set it up online. I'm guessing he never got around to telling IRS employee that he already has an agreement for 2014, but more importantly, I'm biting my tongue wanting to say, "Well, have at it, and get out of my office." I know full well they just want me to do it. Not interested, can't charge what it's worth, don't think it's doable anyway. Also not interested in calling IRS for (or with) this person. This is not a tax issue; it's an irresponsible issue. If you can run a business, you can make arrangements to pay your taxes. I tell her, "Go back to your office, tell him to CALL IRS as directed right here on this Form 9465, at the number I have highlighted in orange, no less, and make sure you tell them that it's a SECOND INSTALLMENT AGREEMENT REQUEST." Secretary leaves me a message yesterday saying they just can't get this thing set up online. You don't say. Before I call this client's office on Monday, or go by and hug all of them, I just need to check with you buddies here and make sure you've not had clients who have successfully ignored the instructions and been able to set up second year installment agreements online. I'd hate to be embarrassed.

Well, wait just a doggone minute here. I thought was "2016 and companies must come up to speed with 21st century technology and business protocols". I ain't bettin with you - you're playin both ends against the middle. Not fallin for it. No sirree.

You're pretty slick.

It does appear that the worker would really be an employee. Nah, it's not an Amish thing; it's a trying to save payroll tax and other related aggravation and costs of being an employer thing. (Not to be too technical.)

Yes, he already mailed the check for 2013 error to the address on the Notice. That was job one. Thanks, Jack, for the advice on how to charge, you know I love you. Since he's a new client, and the kind of client I REALLY love to get, there will be no scolding. Only love, or the appearance of same. He was very well organized, just late. I like November work. They moved here from a higher cost of living state, had an error on previous EA-prepared 2013 return, has pension, SS, investments. I just matched the 2013 fee, and after the $5 poke from ATX, I'm still $45 ahead of what we charge in Hickville, TN. We're all happy, happy, happy.

Well, so will writing a check for 2013 and mailing it to the address on the Notice. He owes less than $900 on 2013. I don't know that it would "hit" quicker to let them take a portion of 2014 refund, but three or four days longer is not going to break him. I care more than he does. Pretty sure.

New client came in to have me prepare 2014 and 2015. Mentioned that IRS was sending letters because he hadn't filed them. I told him bring the letters. OK, he brings one letter, the others he has thrown away. Well. The letter is for 2013 and Notice of Intent to Levy. "Oh, that must 2013 must be a typo..." Yeah. Right. So, I review 2013, other preparer missed the cost on mutual fund sales. I don't know how, because it was very clear, but yeah, IRS is correct and this guy owes the amount they say. I am advising him to mail a check yesterday, and also call them and sound real pitiful. 2014 is going to be a refund. If we file it right before the shut down on November 30, do you think his account will be updated, or that IRS will confiscate 2014 refund? (I know he can file 2014 now, and let them take that refund for the 2013 debt. I don't like that solution in light of the situation.)

Well, I may be too quick to judge. If they could convince me this was really boo boo (as in somebody left off a digit on gross receipts) and not a thirty year chain saw massacre...

The gross income they reported was a fraction of the credit card receipts is what I got from your first post. And they reported zero cash is what I'm surmising from your second post. Do I have that right? A restaurant that reported no cash receipts? If that is true, I would be running, not walking, away from this client. (If I ran.)

You're welcome. That first version of the credit (a loan) is still being repaid, I'd know that one. https://www.irs.gov/taxtopics/tc611.html

/s

I don't recall a single question on FTHB on the SEE exam. Not a one.

Regarding the can of worms. All you're interested in is completing a correct return. Forgive my candor, but I'd be sure and instruct my client, who under-reported income, that he better not NOW be over-reporting expenses. If a client is not honest, I really don't care if worms come up, but that's just me. Regarding the sales tax being included in the 1099-K, if that's correct, yes, report the gross amount on the 1099-K and expense the sales tax. I don't understand how there was no other income besides the 1099-K amount, however.

Here's an article that was helpful to me. It's a two-parter. There's a link at the bottom of Part I to get to Part II. I took the tests in order and would do so again. Good luck! http://mainstreetpractitioner.org/feature/24-tips-for-passing-the-ea-exam-1/

The four stages of a bad seminar: