Kea

And now for a possibly dissenting opinion: http://fideicomiso.wordpress.com/2013/06/10/revenue-rulings-fideicomisos-scorpions-a-trojan-horse/

You're welcome. I have one client with a fideicomiso so this has been a big issue for me. I know it doesn't apply to many people, but to those it does, this is very good news.

The IRS issued Revenue Rule 2013-14 yesterday (6/6/13). It seems to have finally put to rest the question about filing Forms 3520 & 3520A for clients with property in the restricted zones in Mexico. http://www.irs.gov/pub/irs-drop/rr-13-14.pdf The IRS does not consider a Fideicomiso to meet the definition of "trust" under regulation 301.7701-4(a). (The Rev Rule is 7 pages, so I included the link instead. Or, you can just look up Rev Rule 2013-14 fi you are interested.)

True, just the ground meat and salsa (or pico de gallo) would make the recipe a lot easier -- and be almost the same thing. Yum!

Sounds delicioso! But I would probably leave the seeds in the jalapeños. When we went to a Sam's Club in Mexico, we saw boxes of hamburger patties with bacon already mixed in. Sounded good, but we really didn't need a box of 60 patties. Then, there's the Sonoran hot dogs -- hot dogs wrapped in bacon. Just watch the arteries clog as you enjoy them! (OK, you can get something similar at Weinerschnizel. They call it a Street Dog.)

Can't say I'm surprised. But that leaves even bigger questions about the TaxWorks software we used the last couple of years. If we ever change computers, how do we get updates? I never got any CDs other than the original install disks. With both TaxWorks and TRX gone, can we e-file prior years or ever install on another computer?

I already e-mailed him yesterday. Great minds think alike!

That's kinda what I thought. Just trying to head off any IRS Nastygrams!

Client filed return claiming $1000 Misc income from helping a friend with odd jobs at their apartment building. After he filed return, he received 1099 Misc for $700 from the friend. I had included the income on line 21 but without any reference to a 1099Misc. Since this activity did not rise to the standard of being a business, I did not report on Sch C. Does the return now need to be amended to acknowledge the 1099?

I still have my 2 HP11Cs from college. I was so upset when I lost the 1st one that I spent the money to buy a 2nd one. Found the first one several years later when we moved -- it fell out of the bottom of the sofa. I've even paid $2-3 for an HP12C app for my iPhone. (I very rarely pay for any apps.) Once you get used to RPN, it is VERY difficult to go back to a "regular" calculator.

I'm thinking about the Dallas one, too. But haven't decided yet. I haven't been to any before, but it might be a good chance to visit with software venders.

Thanks to everybody!

Thanks John - sounds like good advice. (I knew where to send amendments in general. I had only wanted to know if there was a way to address this back to the letter.) So if sent like a "normal" amendment, should I include the letter?

Client got a Ltr 1687C asking what they should do with an $800 overpayment. They called the phone number on the letter and went over the return line-by-line with the IRS operator. The difference was that the printed return showed the 2nd 1/2 of the Traditional to Roth conversion (from 2010) and the electronic version that IRS received did not. The IRS officer said they would mail a check to the client while they determined which version was correct. Then the clients contacted me to find out what happened. (Full disclosure - I would like to blame the software for this error, but there is a possibility that I may have inadvertently deleted the 8606 when "cleaning up" the return. TaxWise showed it as an unused form. I can't imagine that I would not have realized that an 8606 was supposed to be there, but at this point I can't prove I didn't delete it.) I have created the amendment. But my questions are: Where does it get mailed (there was no address on the Letter, just the phone number)? I am assuming it should go to the same area where the overpayment letter was generated. And that the voided check should be returned with it. What else should be included with the amendment besides the canceled check? The Ltr 1687C? The 8606 from 2010 showing the amount to be included in 2012? A cover letter? Thanks

I would think the payment should be considered timely. If it had been mailed by midnight 4/15, it wouldn't have gotten to IRS for a few days and then a few more days to clear the bank. But in both cases the payment was "sent" on 4/15 even if IRS doesn't have for a few more days.

Agree with everything. I'll be spending lots of time demoing - even though I just can't stand the thought of opening my work computer right now.

Very glad to hear you are safe. Hope the headache is better soon.

When I've had this error, they listed the error code you mention and there was also a 3 digit sequence (?) code such as 002 that indicated it was the 2nd dependent. Not sure if that helps or not.

That happened to me last year. Social Security had the wrong DOB for client's son. No problems in previous years. Last year I got a reject saying their 12 year-old wasn't eligible for child tax credit. Client had to go to Social Security office with his son & birth certificate to get them to correct it. On the plus side, it only took a few weeks (not sure how many), but was able to get return e-filed well before 10/15. (balance due was paid in April - yes, it could have been paper filed.)

Is anyone else seeing delays in IRS taking the direct debits? Client e-mailed yesterday that the debit scheduled for 4/2/13 had not come out yet. Since I didn't have a lot of time, I just asked if the account # was correct & to check to see if the bank had any info about an error. He said he was planning to mail a paper check (don't know if he did or not). I checked on my extension and the direct debit I scheduled for 4/12 had not come out yet. Is it IRS or CCH (I'm using TaxWise) or is everything just taking too long?

Catherine, I'm so relieved to hear you & your family are OK. I wish all those who were injured a speedy & complete recovery.

Client already signed e-file. I may have to paper file, but we'll see. I did download a free for 2012 program demo. Haven't yet installed to see if it will efile. Their office is open tomorrow morning. I'll call if I get up early enough.

The one partnership return that I do cannot be e-filed this year according to TaxWise. It doesn't seem to me like there should be anything preventing it, but I'm not much of a partnership expert. This return has Codes A, B & C on line 14 of the K1 (self employment). It's a farm that had income, but a net loss & sold an asset (non-farm income). Will any company let me download their software before Tuesday to try this return for free? I could put it on extension or even paper file, but I'd really rather just e-file before the deadline - if possible.

"TOD on file" just means that the account is set up to be paid to someone when the student dies -- no affect on the tax return as long as he is alive. You can disregard that line. So, yes, the student has to pay tax on all the interest, dividends, & capital gains. It could even trigger "KIddie Tax." May want an extension!

My client still wanted to file MFS - doesn't want to have anything to do with her. He had all the mortgage & RE tax info & itemized. I told him that meant she would have to itemize as well & he said she only worked part time part of the year & wouldn't pay any tax anyway. Of course he also mentioned that she took money out of her 401k to buy a car. I showed him the MFS / MFJ from 2011 & explained that it would have been $2K more to file MFS that year. He seemed to think it was worth it. His balance due this year was over $5K and he was happy because he thought it would be higher. He gave me an earful about their separation & I just nodded. I hope the divorce is final by 12/31/13. (FWIW, this guy used to work with my husband and I would call him a friend. Not sure I really wanted to hear about all the problems. But he probably just needed to vent.) It is amazing that no matter how much most people hate to pay IRS, they're willing to pay a lot more if it means not having to deal with a "soon-to-be" ex-spouse.