schirallicpa

the Jan 31 deadline stinks. we don't even do many payrolls, but it's always a cumbersome task to upload to the SS office, and it never fails - the program doesn't like my browser and I have to download firefox. just don't like the task and have never been ready for W2's any moment earlier than they day they are due. So what's the penalty when everyone misses the deadline? And while I'm at it, let me ask this question - how late can you file 1099s??

It's time to buy a new one. If I know me - i'll stick to pc because it will cost less. But I have had some viruses this year and have been told by Mac users that they don't get viruses. And having my computer for the purpose of doing tax returns, thus having way too much personal information on my computer for 100's of people - well, that makes me nervous to think that someone might hack in. Not that I don't use virus and spyware programs - which I had programs running and updated this summer when I got the virus that shut me down. Come to find out, there were a number of viruses on my computer when we got it cleaned up. The new windows 10 has not exactly left me feeling warm and cuddly with my computer. Plus - of course, - my kids want me to get an apple. They have grown up in the age of apple. I grew up in the age of DOS, and Mac people did CAD. So - thought I'd post the question and see what anyone thought. Thanks for your 2 cents.

I finally saw The Accountant this weekend. Brings a whole new meaning when we say "I'm going to shoot my client." I was with a friend of mine when we saw it. I was laughing the most about the fact that I don't know any accountants in that good of shape! I haven't ran stairs or jumped banisters - ever. And I do like donuts................

I think this situation may get a little sticky as I have inferred from the relatives, that not every one is happy. The lady died this summer, and named a neighbor the executor of the will. The children and nephews have not all signed off on paperwork yet and the court has not issued any paperwork stating that he is appointed as executor. The 1310 requires that I send such paperwork in. The question is - can the refund be deposited into her estate account directly, without having to deal with this. Or maybe into the attorney's escrow account. I know this is going to drag on well past Oct 15 and would like to have her tax return done.

thank you so much! and no more passwords..........

I am not sure entirely why we put a password on a return, but now we can't remember it. Help.

And the TP was insolvent. It was a classic IRS response - TP must be insolvent. Here's your voucher to pay up. Well - no kiddiing IRS. If he weren't insolvent, he probably wouldn't have a 1099C! I've never had the IRS not accept form 982 - not that I do a whole lot of them. Should I just send them a copy of the 982 asset and liabiltiy worksheet thats in the Pub? What happened in this case is the TP got a notice in 2016 that his 2013 tax return was changed for 1099C that he says he never got. The 1099C was for almont 13K. And I know the guy and I know he had nothing then after getting divorced. No house, only a junky truck and a motorcycle. Both worth less than the $13K on the 1099C. So I filed the 982. now the hard part is going back and finding what he really did owe on things 3 years ago. Wondering if anyone else has had trouble filing 982

1 - wondering if anyone has a sample engagement letter for delinquent returns? 2 - wondering if anyone charges more for such delinquents?

I have a couple that were filed in July that are sitting there "being processed". Wondered if IRS had taken a little vacation. Perhaps they have a beach address that it should have gone to.

And to boot - this is the 2013 return. So whatever the previous tax preparer did in 2012, 2011, etc is not amendable...............

I know - that's the other half of my brain thinking - this isn't right to begin with. Leave these losses suspended.............

This client is new. Has "always" owned the building she operates in (as an attorney) and has "always" paid rent to herself on Sch E. Then deducts utilities and property tax on Sch E. Has a carryover on 8582 in Sec 3 "all other passive activity" - not in sec 1 "rental real estate with active participation". Am I missing something? This means that she has carry forwards that could have been taken over the years. Why wouldn't this be active participation?

The hair on my neck stands out when I see him. I hope wherever he ran to keeps him and he never comes back!

http://www.cnbcprime.com/american-greed/ Watch this show this Thursday. I'm sure many of have seen this story over the last few years. He sued Mark Zuckerberg for 1/2 of the value of Facebook, claiming that he had an interest in it. He was charged for filing a fraudulent suit, and was supposed to return to court. During that time, he was to wear a tracking device. He lived here in Wellsville, NY where I work. He had hooked up a bunch of contraptions in his house to move the tracking device around, and he had lights turning on and off on timers. And he and his wife and kids left the area. Everyone thinks he is in Ireland, where his grandparents had been from. Many years ago when I first hung my shingle here, he came into the office and proceeded to tell me how he owned a satellite photography type business to take pictures of intersections for insurance companies, how he owned some other social website business (and he may have been talking about facebook then, but no one had heard of it yet) and how he owned our local movie theater. Then he proceeded to ask me to help him protest paying tax, and how tax was voluntary, and that whole thing. I told him that I was not interested in helping him. He then proceeded to make fun of my small office and berate my business and abilities. I then had asked another client what he knew about him and he told me about how his parents had scammed a bunch of people in town and filed bankruptcy and went to Ireland. To my knowledge he never owned the local movie theater, and I don't know anything about his photography business or his social website business. We never got to any business after he told me his intend of not paying tax. About 5 years ago, he was in the business of wood pellets. He "pre-sold" wood pellets to a number of people in Wellsville area for the tune of $200,000, and then never made good on delivery. Then Attorney General Andrew Cuomo charged him. http://www.businessinsider.com/paul-ceglia-allegany-pellets-sued-2010-7 I'll be interested in what else American Greed turned up on him.

ok - I am piecing together info from her, and it sounds like JKLCPA you're right on the money. Apparently she was offered a rollover, and didn't know what that meant so just had them cut the check. thankfully, she had not cashed the check, and we might be able to send it back and have them do a direct. Sometimes half the job is the detective work...........

It says on the attachment to the check "profit sharing plan"

I have a client who's father passed away. She was named on his annuity. She received a check this week for 95000 after they withheld 25000. So taxable amount will be 120000. They went to see our local podunk "financial asset manager" and she told them that they should send the check back to the issuer, and have the issuer move the money (rollover) directly into some investment account so that they could avoid tax. Now - I know I'm just the local podunk "tax person" in town, but since when can you avoid tax when you inherit a taxable annuity? Am I missing something?

I have a 2 person operation, and we prepare returns on stand alone pc's. I have security thru my internet provider, and thru my McAfee programs. What else do people on this forum use?

Love it. Thank you!

I just had a client ask me the same question, and I want them to buy the assets, not the stock for the same reasons listed here. I had a business buy stock one time, and in that case there were very few assets, but the name of the business was what they were buying. I did not advise in that situation, so never entirely convinced that the buyer did the right thing. Most of the time, buyer wants assets, not stock.

Ok - I have said this before. This is a year for unique situations for me. I have a client that has owned business real estate for several years. This building has been depreciated over about 14 years now. She gave the building to her sister. Now I am doing the tax return. Sch C. How do I take these assets off the return? It is not a sale. Is there recapture? Does it just end?

I am in the middle of a debate with NYS regarding filing an extension on time. I went to ATX and printed page where it shows the efile as accepted. But still going around with NY. (grumble, mumble......NYS.......)

We have a client that did not keep copies of 1099s that he issued, and one of those 1099s went to a different client of mine, that says he reported the previous years amount on his. In other words, he reported the 2013 amount on 2013 and again on 2014. We think. But we cannot find record of all of those 1099s. How can we get them?

That's what I was thinking I could do, but I didn't know if they would still accept it. thank you.

I have had more unique situations this year! Client has had levy on income because of 2011 income tax change. A 1099 was reported in her name (ss#) that should have been reported to a non-profit that she was associated with. She did not report on her return, and the IRS has sent her several notices regarding it. She has tried to argue the situation on her own, but has gotten nowhere. Has not filed 2013 and 2014 returns because she is afraid IRS will take more of her money (refunds). So I have prepared those 2 returns. and filed an ext for 2015. But I don't think I can do anything about 2011. (and honestly, it's not a huge amount of tax.) Any thoughts on this one?