Richcpaman

KC: I know its a great idea. If I could EVER get into their site. That's *my* biggest problem. Rich

A button on the Printing Menu: "SAVE THE SELECTIONS FOR PRINTING LATER" So I can make all the selections for that Client, and then let someone else print it. Not just "save selections", as that only seem to "stick" if you print the return. Next: THE ABILITY TO DESIGNATE WHERE EACH CLIENTS PDF CAN BE SAVED. And it remembers to the next year. Smith, James goes in his folder. Jones, Jane goes in hers. NEXT: THE ABILITY TO HAVE THE CLIENT NICKNAMES CARRYOVER ON THE CLIENT LETTER. So, I do not have to check the box, and then type in the clients names each year. NEXT: THE BOX FOR ATTACH CLIENTS LETTERS BE LARGE ENOUGH TO SEE ALL THE SELECTIONS IN IT SO YOU DO NOT HAVE TO SCROLL TO GET THE STATE CLEINT LETTER OR THE MAILING SLIP. NEXT: MAKE THE PRINT SELECTION BOXES A LITTLE LARGER When you have to click those boxes for each return, three times, having them a little larger makes it easier to hit them quickly. NEXT: WHEN SELECTING WHICH PAGES TO PRINT, IF YOU DELETE A FORM AT THE TOP, IT LOSES THE WORKSHEETS AND OTHER ATTACHMENTS AUTOMATICALLY If I delete the 6251 as a Federal form to print, Down below the various other detail pages disappear.... NEXT: WHEN IN THE PREPARER MANAGER, IF I SELECT 30 CLEINTS TO PRINT A REPORT, GIVE ME SOME CONTROL TO PRINT TO 1, 2 or 3 PAGES WIDE. I have to send it to Excel just so that I can get some page size control. That was a start. Maybe we can take this to the "complaints Section" that exists at ATX? Rich

Was doing a return the other day, and the client had checked the "contribute to the Presidential Election Fund". It made me stop..... And I think out of 200 personal returns, he is the only one. Wow. How about you? Rich

That is funny. Rich

Tabby: I will take her off you hands... I do a number of lawyers returns. Crabby ones? I LOVE to bill them... Rich

Jack: I will give you $10 for the first person on this board who gets some sort of sanction from the IRS for not completing a 8948. My only exception that would be someone who refuses to Efile. I have tried to efile, and sometimes, something is wrong and it keeps getting rejected. So I print the paper copy and ask the client to mail it. Does that require an 8948? I guess so. Its the IRS's fault, but we gotta sign a form. Sorry. They want all preparers to Efile. So, in order to do that, they tell you to make your clients sign a form if they do not efile.... Typical bureaucratic response to a minor problem. I especially like the last line... "We was not influenced to sign..." You most certainly were influenced. Who gave you the form? Rich

I think they should focus on the IRS budget and how they process refunds, and spend about a billion slowing down the refunds and running checks on them to blow up the bad tax returns being sent to the IRS. These are NOT being sent by "bad preparers" They are being prepared by criminals. BIG difference. Rich

I wouldn't have the client sign an opt-out. I might charge the client more. (I like this idea) If I Efile 98-99% of my returns, why should I worry about the 8948? The 8948 was the nuisance fee from the IRS to force efiling compliance. Rich

Catherine: The problem here was the Master at the Courthouse. That person sent out the funds without securing the back up info for the 1099's. Major mistake on their part. And this is a one time deal, so no way in the future to do withholding going forward. My office is across from the courthouse. And If I had this problem, I would be at the Clerk of Courts office telling them how badly they screwed up, and not to do it going forward. Mainly, to require a completed W-9 BEFORE sending out any funds. That barn door is wide open here... Rich

Randall: Do you have any more information? Who bought the 1/2 interest? What portion of the house/Property was sold? How much did the T/P sell it for? What was the basis in the entire property? What are the clients future plans for this property? Rich

Yep. I had one with 36 pages of transactions. They were insisting that I include them with the return. Said sure. $3 a line item. They decided against it. I told them the subtotals ST and LT to each account was sufficient. This was before the 8949 world, but really? The IRS has the info. Send me a CP-2000 and I will deal with it. And in 22 years, I haven't seen one yet. Rich

We have our Designated Driver... I prefer White Wine myself! Rich

YES! I get at this time of year to eat the frogs first, then do easy ones... Of the "stack", there are about 25 or so that are really nasty and ugly, and I need to do two of three a day, and then blow out 10 or so of the "easy" ones. One last appointment today, and no others am I promising to get done by April 15th... Rich

I just use Adobe Acrobat to scan client documents, and then save to PDF from the print screen in the software, and put the two files together for "One File" for that tax client for the year. I control the construction, and the placement and naming of the file, I do not want to give that up to some other software. Rich

I read the title of this thread, and just went "DUH!" Rich

Imputed interest on $132K at the blended rate now might be $1,000 in income and $270 in tax this year, or less. $132K in Cap gains is $35k in my state... That is one reason why not. Especially if it has to come back...Which it will. Rich

Tom: This line: "The rest of the money was used for room and board." THAT is what I am talking about. She used the money for R&B at the college first, books, then tuition, etc. So that way, there is no $$ left over subject to tax. The Tax Court ruling supported this treatment. IRS Pub 970 has it going the other way, but that is the IRS writing rulings to benefits them, and NOT the taxpayer. I am sorry, but when the court rules, that is law, when the IRS interpetes, its just rules. Rich

Tom: The IRS instructions in this area contradict the tax court rulings. The IRS is having its cake here... The IRS says the Scholarships and grants are used to pay tuition first. And once extinguished, there is no AOC/Credits/etc.... But the Tax Court ruled that a taxpayer can apply the scholarships/grants to other college expenses first, then to books, then to tuition, thereby, using up all the funds and nothing left over to be taxed. The PPC 1040 deskbook described this sitch pretty good. Rich

An IRA can INVEST into real estate. It can buy stock in a corporation. But the owner of the IRA can not invest into a corporation they own, or real estate they use. Rich

I like Jack's answer. Follow the money and draw straight lines thru it. $$$ to donuts you get to prohibited transactions. Rich

I would double the fee at pick up for THIS year. Then the fee for NEXT year would be triple.... Rich

Then in that case, and it happens a lot, is you then tell the client that you get to pick up Capital Gains taxes on all those distributions. And oh yeah, NEXT year when you have to pay off the loans and have no distributions? Yes, you get to pay tax then on that phantom income.... So, tread carefully here. Rich

Actually...Where did the cash come from? If there was no "Profit" how can they have distributions in excess of basis? Especially $132k worth of distributions... Then there is this possible answer: They borrowed money for something else or refinanced it, and took the cash. Leaving the debt in the business, so then they really have a "Debt-financed distribution" and the treatment of that is different. Its easy to just put it into the "S-Distribution" slot, but really, it isn't. Rich

Saw this on Yahoo News this morning: http://screen.yahoo.com/viral-hits/man-uses-instagram-tax-documents-231508690.html Seems this guy who live in Philly, but now works in NYC, is trying to avoid paying NYC taxes. So, he takes a picture of himself everyday, leaving for NYC. Except.... He has an apartment in NYC. Why the Rant? Because they make the story about "The IRS". And the "The IRS" does not care about what state you live in. This is for NYC/NY State taxation. Rich

I suffered thru 2012, and renewed for 2013. I have a network, two other computers attached, and I bought a new computer for myself. Win7 machine. Only have had 4 BSOD's. Computer restarts and away we go, no problem. Workstations appear to run slow. Lots of latency. Rich