kcjenkins

These just get better and better ! http://guff.com/amazing-twitter-grammar-fails/new-reality-show

I use Chrome.

He and the X each get to exclude up to 250K of their share, but his new wife is not part of it unless she meets all the tests. He's good on his . Home transferred from spouse. If your home was transferred to you by your spouse (or former spouse if the transfer was incident to divorce), you are considered to have owned it during any period of time when your spouse owned it. Use of home after divorce. You are considered to have used property as your main home during any period when: You owned it, and Your spouse or former spouse is allowed to live in it under a divorce or separation instrument and uses it as his or her main home.

"Abandoned or converted to personal use" would be my choice.

Yes, I figured that out, and I saw "Lock in your deal", clicked on it, then it asked me to log in. I did, but then it just took me to the standard page you get when you log in, no renewal option. Oh well, was not going to do it now, just wanted to see it.

Wish I had that problem, don't you? Seems like when they got that bonus they should have made an extra estimated payment, but then, you said they did not make the estimated payments you suggested, so it's clear they knew better.

Strange, when I login it does not take me to renewal info?

Gail has some great points, and clearly you need more info before you can do anything.

Done, Tom.

This guy deserves a grenade, not an arrow!

Don't hold your breath, Dee. Section 611 provides an allowance of a deduction for depletion for oil and gas wells, mines, other natural deposits and timber. Treasury Regulation § 1.611-1 covers general provisions for depletion of all natural resources. Treasury Regulation § 1.611-3 provides rules applicable to timber. (Note: Treasury Regulation § 1.611-3(a) specifically identifies Christmas trees as falling under the provisions of Treasury Regulation § 1.611-3.) From Pub 225: Christmas tree cultivation. If you are in the business of planting and cultivating Christmas trees to sell when they are more than 6 years old, capitalize expenses incurred for planting and stump culture and add them to the basis of the standing trees. Recover these expenses as part of your adjusted basis when you sell the standing trees or as depletion allowances when you cut the trees. For more information, see Timber Depletion under Depletion in chapter 7. You can deduct as business expenses the costs incurred for shearing and basal pruning of these trees. Expenses incurred for silvicultural practices, such as weeding or cleaning, and noncommercial thinning are also deductible as business expenses. Capitalize the cost of land improvements, such as road grading, ditching, and fire breaks, that have a useful life beyond the tax year. If the improvements do not have a determinable useful life, add their cost to the basis of the land. The cost is recovered when you sell or otherwise dispose of it. If the improvements have a determinable useful life, recover their cost through depreciation. Capitalize the cost of equipment and other depreciable assets, such as culverts and fences, to the extent you do not use them in planting Christmas trees. Recover these costs through depreciation. http://www.irs.gov/publications/p225/ch07.html#en_US_2014_publink1000218298

She probably didn't bring it in because she knew she had not paid you for last year. But even if he's a nice guy, he surely knows his wife well enough that he should not have left it up to her to deliver something as important as the tax return info. Or at least called much sooner to be sure you "had everything you needed". She sounds like someone [we've all had a client or three like this] who puts off anything unpleasant, as if it will magically 'go away' if ignored long enough.

Isn't it a great feeling when you fire a PITA client? Like you just had a huge weight removed from your back.

I agree, JM, it would make good marketing sense to sell at least one more intermediate size, say 4-9, for a price between the two current options. In the 'old days', ATX would have listened to a good presentation, but sadly, CCH just does not seem to listen to much of anything.

Let's calm it down, please. This subject should be delayed until after the 15th, at least.

13 days left ! Counting today, that is.

Washington, D.C. (April 1, 2015) By Michael Cohn Better processes are needed to reduce the risks of employment tax fraud, according to a new government report. The report, from the Treasury Inspector General for Tax Administration, found employers that arrange to have a third-party payer handle their federal employment tax withholding and tax payment responsibilities are potentially at risk of being defrauded. Approximately 40 percent of small firms use a third-party payer for tasks ranging from paying employees to paying federal employment taxes, according to the report. There are four common types of third-party payer arrangements: payroll service provider (PSP), reporting agent, Section 3504 agent, and professional employer organization (PEO). For its report, TIGTA evaluated whether controls are adequate to protect the taxpayer's and government's interests when third-party payroll providers are not compliant with payment and filing requirements. “While third-party payer arrangements usually work as intended, there have been instances in which third-party payers receive funds from employers for payment of payroll taxes, but they have not remitted those taxes to the IRS,” said TIGTA Inspector General J. Russell George in a statement. “This causes significant problems for employers because the funds have been expended but the taxes are still due.” TIGTA found that processes have not been established by the IRS to link employers with all third-party payers. Of the four most common types of third-party payer arrangements, only reporting agents and Section 3504 agents are required to submit an authorization form that discloses the relationship between an employer and a third-party payer. The IRS does not require a similar authorization for employers that use a PSP or a PEO. TIGTA raised concerns about the IRS’s inability to identify employers that use the services of a professional employer organization in earlier reports it issued in 2007 and again in 2011. In addition, the IRS does not always accurately process authorization forms, the report observed. TIGTA’s review of 85 agent authorization forms processed in 2013 identified 11 forms with errors. Because of these errors, authorizations provided by employers to their reporting agents were incorrectly reflected in IRS systems. Finally, the IRS has not established an effective process to ensure that indicators are accurately assigned to Section 3504 agent and employer tax accounts, according to a report. TIGTA's review of the tax accounts associated with Section 3504 Agents filing 78 Forms 2678, Employer/Payer Appointment of Agent, identified 13 that contained erroneous indicators. The errors incorrectly identified Section 3504 agents as employers and vice versa. TIGTA recommended that the IRS partner with the Bureau of the Fiscal Service to develop a plan to use the Electronic Federal Tax Payment System to link a PSP with an employer; establish a program in which employers can inform the IRS of the PEOs they authorize to file and pay employment taxes; require those PEOs with a service agreement to attach a Schedule R (Form 941), Allocation Schedule for Aggregate Form 941 Filers, to employment tax returns; and, develop processes and procedures to ensure authorization information and Section 3504 agent indicators are accurate. The IRS agreed with three of TIGTA’s five recommendations and partially agreed with two. The IRS said it is working on establishing the voluntary certification program for PEOs that was enacted into law in December 2014. While the voluntary certification program will link PEOs that certify to employers, it will have no effect on PEOs that do not certify. TIGTA pointed out that the IRS will continue to be unable to readily identify noncompliance with payment and filing requirements on the part of these non-certifying PEOs. Karen Schiller, commissioner of the IRS’s Small Business/Self-Employed Division, noted in response to the report that the IRS has developed an Outreach and Communication Plan to remind employers that they remain responsible for ensuring tax compliance, including timely filing of returns and payment of taxes when using the services of a third-party payer. “Also, on April 14, 2014, the IRS and the Department of Treasury issued final regulations clarifying that when a third party payer enters into a service agreement with an employer which includes the third party filing returns and paying taxes on behalf of the employer, then both the employer and the third party are liable for the employer’s employment tax obligations,” she wrote. She also pointed out that on Dec. 19, 2014, Congress enacted a law that “changes the landscape” of the IRS’s authority with respect to PEOs, requiring the IRS to establish a voluntary certification program. A PEO can apply to the IRS for certification, and if it meets the requirements, it would be solely liable for the employment taxes on wages paid to employees performing services for any customer of the PEO.

Never had to use it, but it worked for me, just knowing it was there, and, with a few clients, MENTALLY pulling it out and shooting them on the spot. Wonder if they ever guessed why I went from irritated to smiling?

Nope. You are responsible to keep your own records of your income, regardless. And this is the wrong board for such questions, it's for tax PROFESSIONALS so I'm going to lock this thread now.

It's just like if they had W-2's from two states. You are just tired. Glad I could reassure you.

PLEASE do not 'follow' what that person did, it is totally wrong. A farm loss goes to page 1 of the 1040, where it may create an NOL, or not, depending on what else is on the 1040. Then, if there is an NOL, it's treated just like any other NOL. My guess is that the idiot doing the return did that so that the excess loss could offset SE tax on the future year. Many farmers get angry that, in a business with many ups and downs, good years and terrible years, they pay SE tax in the good years, but they can't use their losses to reduce the SE tax in the next year. I agree with their pain, but that's just 'how it is'.

YEAH, YOU JUST WANT US TO ENVY YOU. AND WE DO !

I'd assume that IL would tax it, and NE would also tax it, but give them credit for the tax paid to IL.

If the client still works there they can probably ask HR whether they were added to the W-2 or not. But, if you don't care [not large amounts] then any extra they have to pay is their penalty for not keeping the paperwork you KNOW they got at the time.

Check this out then