joanmcq

Worked for Treasury? Yeah, she lost her job. Heck, I have a client that works as customer service for Treasury, and he can't even file an extension without it being reviewed. All tax prep software already has an embeded code in it; the IRS can flag copies (including and especially TurboTax) from which unusually large amounts of 'self-prepared' returns are generated. This is how the ghost preparers are being targeted. I wouldn't turn in a preparer myself, but would encourage the client that previously had their returns done there to do so.

I was aware of selective filtering on Google since I heard a report on it on NPR, but had no idea Facebook was doing it too. Thank you for the link to the TED talk.

If I have any suspicions on an email, I look at the full header which gives the details on what account the email really came from.

Passing the RTRP may not have changed anything in the way YOU work, but if you look at the number of preparers that have taken the exam. you do now have a credential that many don't have, and apparently don't want. YOU may have always taken CPE, but many, many 'preparers' out there didn't. This is about being able to track and put out of business the crappy preparers out there, which is good for our business, and good for our profession. Remember, CPAs and EAs have always been subject to Circular 230 and it's due diligence requirements. This stuff might be new for you, but it's not for us.

The really bad english composition usually tips me off. I got a ton of the YouTube ones.

Was great! You guys missed it. I highly recommend it for next year. Got to talk to the developers face to face and tell them what I needed out of software, had classes in marketing & social media, and a lot of other stuff, and a sneak peek at the 2012 ATX. The wining & dining was pretty fine too. A good time was had by all.

What state? CA has it's own passive loss adjustment form, and the adjustment is done there. Sorry I didn't see this on the 14th, but I was up to my eyeballs in my own last minute headaches.

I got two year's of returns delivered to a very happy couple (even though they owed a chunk)-they were just relieved their taxes were finally under control. I'll amend 2009 at my leisure. The final CA8879 got here at 11:22pm. He thought he had faxed it already; and really he might have, since the drawer pickup on my printer decided to bail on me this last week. Need to have the damn thing serviced. I have been sleeeeeping so much the last few days. I hadn't realized how little sleep I was getting.

And I'm frakking tired. Fried. I wonder if I can get Chinese delivered?

Yes, I'm going to the Small Firms conference. Cross country airfare is too much for a one day class! I've had very little CPE on how to run a biz efficiently and there are classes on new technology, privacy & the like, as well as on ATX (& Taxwise). Usually I'm up to my ears in just tax classes, so this year I thought I'd do something different.

I am-anyone else?

Jack, the problem with the 3 out of 5 rule is that if she is not actively working currently to grow the business, it's not likely she'll meet the 3 out of 5 rule, and according to the OP she is not. If you don't meet it, then the previous years run the risk of being reclassified as hobbies. If it is truly a hobby at the current time, then it's a hobby.

Last year a client's check bounced and she was so embarassed she tacked on an extra $25 to this year's bill. The check cleared before her deposit did. I'll hold checks for a few clients; most are early filers, without much income, or a long term client that's come on hard times. When stateworkers were being furloughed, I had a few of these.

May Don rest in peace, and you KC, find solace, strength and companionship from your family-blood and your friends online. The picture is wonderful and I'm sure Don was cheered by seeing them. And for your sons, the chance to say goodbye is a priceless gift.

Update: I spent an hour on the phone with Tex Upport and it appears to be a software glitch. I'll find out more on Monday.

Does anyone have experience with the Form 6765 in ATX? Client has a research credit c/f from 2010 and also more credit in 2011, but her tax is low, so only part of the 2010 c/f will be used. The rest of 2010 & 2011 will be carried forward to 2012. The issue: everything looks hunky dory until I get to the 3800. Page three has two entries, one for 2010 marked passive credit and carryforward, with the full amount of the credit for 2010 (before the income limitation). Page two of page 3, while marked passive credit, does not show any amount, even though I have filled out the detail sheet. I think it should have the full amount of the 2011 credit. Is this correct? Or do I have a program bug. I'm calling ATX, but figure I might get a better understanding of correct tax presentation here.

You should be able to put the document into Google to get somewhat of a translation of the document. And I can't stress how much you'll need to read the tax treaty. Perhaps Tim or one of our other Canadian users can help with the translation.

I'm sure he finds comfort from your being there, regardless of how alert he is. So type away and let us help you through this tough time as we can-since we can't give you physical hugs, the electronic ones will have to do. ((((((((KC)))))))

I'm sorry KC, I hope they can keep him as well as can be and comfortable. My sympathies.

I may be going. Have to get some billing in though; I have a new roof to pay for!

They send NOTHING to the trustee. No statement, no 1099-R, nada.

Yay JB! Now it's 100,001 that have taken it.

Client set up a special needs trust for her disabled son from a settlement back in 2001. Most of the funds from the settlement were put into a single premium immediate life annuity. I have the contract and it is sparse; no mention of an interest rate, just that beginning on 5/1/01 'certain' annual payments of $2,000 would be made for 5 years, and then 120 guaranteed 'life with certain' monthly payments of $645 would be made. I did the math, and for a single payment of $88,603.05 in April 2001, the beneficiary is guaranteed payments of $87,400. The trust is a qualified disability trust, so it only has a filing requirement if income is over $3,700. I did a bit of research, and found, as I suspected, that the payments are supposed to be mostly principal with some taxable earnings. The client thinks all of the payments are 'income'. Does anyone know how I could determine the split between principal & earnings, or is it all a return of principal until the single premium is paid? Late night last minute trust stuff. They've never filed a return for the trust, even when the larger payments from the annuity started. The only other income is $14 of interest on a bank account.

Well, with the same-sex couple returns I'm doing, having both parties individual returns open at the same time is a godsend! Now if they include a way I can efile the damn things with split withholding, I'll be in heaven. I'm a two monitor person too. If I clean up my desk, maybe I can fit in three.

I worked for a bank clearing checks; what do you think running proof is? Funny thing is, later on I found out that was the job my grandmother had for most of her life. Are you saying this happened in 1960?