Elrod

Lynn, You may not be off base....But, he is....

How much does your firm charge to prepare a 1040? How about other forms? What about the accounting and business advisory services you offer? When was the last time you checked to see if your prices were appropriate? A new survey from the National Society of Accountants (NSA) shows detailed data about business practices, client fees, and spending for tax and accounting professionals. The 2016-17 NSA Income and Fees of Accountants and Tax Preparers in Public Practice Survey Report offers useful benchmarks for firms to use in billing, fee increases, engagement practices and other operations. http://www.cpapracticeadvisor.com/news/12300090/average-tax-preparation-fees-hit-273-for-1040-and-one-state

2017 Tax Filing Season Opens Today IR-2017-06, Jan. 23, 2017 WASHINGTON — The Internal Revenue Service said today that it successfully started accepting and processing 2016 federal individual income tax returns on schedule. More than 153 million returns are expected to be filed this year. https://www.irs.gov/uac/newsroom/2017-tax-filing-season-opens-today

I also have a plumber who can get his F150 to run on ketchup.....Remember BB, there are some that think they are rocket surgeons...

Good Girl....And You're welcome...

Sounds right to me....One washes the other out...Books closed...

Employee for one day and I assume paid for that one day- ie-w/2 Anything else..??? Publication 535.....Loans or Advances: You generally can deduct as wages an advance you make to an employee for services performed if you don't expect the employee to repay the advance. However, if the employee performs no services, treat the amount you advanced as a loan. If the employee doesn't repay the loan, treat it as income to the employee. Publication 17.... Nonemployee compensation: If you aren’t an employee and the fees for your services from a single payer in the course of the payer's trade or business total $600 or more for the year, the payer should send you a Form 1099-MISC. You may need to report your fees as self-employment income.

I have had this happen several times over the years, B I would simply do the 1099 for 2016, providing the payment was made in 2016. Even if it was an advanced payment, hinged on employment, under the circumstances when the individual is gone, the only alternative is a 1099.

COURT JESTER!.....WoW!..... Lion It would be a fantastic career move for me.....Can I bring my gitfiddle?

Christian, I scoured the IRS site and search sites, with no success to a list....But, I hope this will help. How do I know if I was "disallowed" from claiming EIC in a previous year? In most cases, the IRS would have notified you in the year you were disallowed. You would have received a notice in the mail. In addition, the refund that you actually received from the IRS would have been significantly smaller than what was reported on the return that you filed. If you are unsure if you have been previously disallowed for EIC, you would need to contact the IRS at 1-800-829-1040 to find out. https://www.taxslayer.com/support/547/What-filing-status-should-I-choose You may like this also, to give to client...https://www.irs.gov/pub/irs-pdf/p4716esp.pdf

Thank You Bill...You knock those 1040's outta the park this year....Live long and prosper

You all write such kind words.... I simply thought that since I retired, I was more of a nuisance to ya all. This time of year, as I well remember, is a very stressful time for income tax preparers, and I am with you all in spirit. After 38 years...I do not miss it. I will bop in from time to time and and hopefully leave a... Or two.... Bless you all... Elrod Thank you....FNDY, TAG, CATHERINE, CHRISTIAN, DANRVAN, GAIL, J.B., FRAZZLED, SFA, NECPA, MARGARET, SARAEA, and anyone else I have missed.

Goodbye All...........

You have my permission, Catherine.........Just make one of these and sneak it into her house....

Strong Left Handed Mouse............

WASHINGTON – The Internal Revenue Service, state tax agencies and tax industry leaders today warned tax professionals to be alert to an email scam from cybercriminals posing as clients soliciting their services. A new variation of this phishing scheme is targeting accounting and tax preparation firms nationwide. The scheme's objective is to collect sensitive information that will allow fraudsters to prepare fraudulent tax returns. These latest phishing emails come in typically two stages. The first email is the solicitation, which asks tax professionals questions such as "I need a preparer to file my taxes." If the tax professional responds, the cybercriminal sends a second email. This second email typically has either an embedded web address or contains a PDF attachment that has an embedded web address. In some cases, the phishing emails may appear to come from a legitimate sender or organization (perhaps even a friend or colleague) because they also have been victimized. Fraudsters have taken over their accounts to send phishing emails. The tax professional may think they are downloading a potential client's tax information or accessing a site with the potential client's tax information. In reality, the cybercriminals are collecting the preparer's email address and password and possibly other information. The IRS urges tax professionals and tax preparation firms to consider creating internal policies or obtain security experts' recommendations on how to address unsolicited emails seeking their services. One tip: Never respond to or click on a link in an unsolicited email or PDF attachment from an unknown sender. As the IRS, states and the tax industry make progress in the fight against identity theft, cybercriminals are becoming more sophisticated in their efforts to steal additional client information. Criminals need more data in their effort to impersonate clients and file fraudulent returns to claim refunds, and schemes like this can help in this effort. Read more at Protect Your Clients; Protect Yourself, the Security Summit initiative to increase awareness about the tax professional community. https://www.irs.gov/uac/newsroom/security-summit-alert-new-two-stage-email-scheme-targets-tax-professionals

AMEN...........Catherine

Happy New Year! ............

FNDY......You are a fine poet.......Well done...

BEFORE.............. During............ After.............

WASHINGTON — The Internal Revenue Service today issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 53.5 cents per mile for business miles driven, down from 54 cents for 2016 17 cents per mile driven for medical or moving purposes, down from 19 cents for 2016 14 cents per mile driven in service of charitable organizations https://www.irs.gov/uac/2017-standard-mileage-rates-for-business-and-medical-and-moving-announced