Terry O

THANKS KC !!!! They're great!!

Easter Sat - -there were people actually IN LAKE ERIE - -swimming - -at the beach in Hamburg (8 miles south of Buffalo) - -OK - -so it was 84 outside - -the lake is a brisk - -ummmmmmmm 38 degrees! Actually saw my first sailboat out on the lake yesterday!!! AND - - GO SABRES !!!!!

I have had a "no extensions - no excuses " policy for years - -even when I did 640 a year - - -it almost always worked - - -in 29 tax years - -I have filed less than 10 extensions. I figure - -they have 100 days to get the info to me - -April 15th is the SAME DATE every year - -just like Christmas - - it NEVER changes ( with the exception of Patriots Day in MA). Sooooooooooo - -here I sit - - - finished my last client this morning and just finished washing my car - -will actually get to go sit & start a BOOK on the porch - -sorry guys - -I don't mean to rub it in, but it's the first time in a LOOOOOOOOOONG time I can do that! Good luck to all today!

Now Don, Let's NOT encourage any more NYS jokes - -it sounded SOOOOOOOOOOOOOOO impressive !!!! Are you LOVING the weather we have been having the past few weeks?

Thanks guys - -I will send her a 1040X as a pdf file tomorrow - -showing NO $$ mailed with original - - - Looking at only 30 more hours left till this season is officially OVER!!!

After 29 tax years - -I thought I had heard it all! Long time widower client passed away in Sept. He had been VERY good friends with a wonderful lady who was with him till the very end. He finally convinced her to get married, and a Rabbi came to the hospital to perform the service - - - they were, however, 28 minutes SHORT of the NYS 24 hrs between getting the license and getting married. The Rabbi did not discover this until AFTER the client passed away - - - - - new spouse goes to State Supreme Court for determination - -guess when it came - - - TODAY - - - -AFTER I DELIVERED HER 2 SINGLE TAX RETURNS TODAY!!! Her tax return was e-filed TODAY with balances due both Fed & NYS (paper check was to be mailed) and HIS had refunds - -but were not efiled or mailed. My question is - -HOW to amend her's and efile it TOMORROW without having her send in the $$ since there is now a pretty good refund . I believe I duplicate HER return - -check Amend and then add his info - - and send it out ASAP. But - -it's been the tax year from - - you-know-where. THANK YOU to all for the wonderful hints, suggestions that have been put on this forum!

Thanks Jainen, I misspoke - -it was CHASE bank -- and here is THEIR reply to the taxpayer - - -go figure !!! REPLY FROM CHASE BANK: > That 1099-C is not applicable to your situation. > > 1099-C is only valid if a loan has been forgiven - because you have > done an actual settlement. > > That is not the case here, as the loan was in dispute. When a loan is > disputed, they are not to 1099-C you. And if they do, generally one > just sends it back to the IRS, explaining it was sent in error. The > account was not settled. It was in dispute and they got rid of it - > on the basis of the fact that the debt was not valid. > > But, if you did a settlement plan - you would then pay taxes on the amount > forgiven. But, nothing was forgiven here. It was put in dispute - and > there is therefore no debt to settle. > > Chase mistakenly sent these forms this year to all whose accounts they charged > off, apparently, in error - regardless of the reason they were charged > off. They > are not to be sent to those whose accounts were charged off in > legitimate dispute, > but they obviously did. This is why you did not receive 1099-C forms from all > of your accounts that were charged off - because your other creditors > did not make > the same mistake. > > But, we don't give tax advice. You should check with your tax preparer. > You may show him or her this Email, if you like. > > Here are some sites to look at in regard to this. The first will explain your > situation a little past the middle of the page down under the heading > "Disputed Debt Doctrine". Note, your debt is not legally enforceable > because it has been charged off in dispute. > > > http://en.wikipedia.org/wiki/Cancellation_of_Debt_(COD)_Income > > > Also, this second link explains more about the "Disputed Debt Doctrine". > > > http://www.bankrate.com/brm/itax/news/20030303a1.asp > > > On this page, among other things, you will read: > > > "You don't have to report debt forgiven as income if you contest the liability. > If your debt settlement is achieved because you protest an owed amount, the > forgiven debt is excluded from the DOI rule. Some people encounter this > situation when they dispute credit card charges. For example, MasterCard > contends you owe $1,000 but you didn't buy those Ferragamo shoes. The > debate rages on for weeks. Finally, to put an end to the quibbling, you offer > to pay $200 and MasterCard says OK. That $800 difference is a settlement > of contested liability, and you're not liable for taxes on it." > > > A simple note on a piece of paper attached to your 1040 identifying > this 1099-C > as one sent in error - and mentioning the very real fact that Chase > reportedly sent > these to inapproprate accounts this tax season - should suffice as an > explanation as to > why you did not include that 1099-C in computing your income for that tax year. > > Check with your tax preparer, and make sure he or she realizes that the debt > was officially disputed, and it was written off by your creditor on that basis > - because it was not valid. And again, feel free to share this Email > with him or her. > > Allen > CMS >

This just in my inbox from a client - -had anyone experienced this situation? "I have a question. A couple weeks ago we received a letter from the IRS stating that there is a discrepancy in our stated income from our 2008 income tax return. It seems that one of our credit card companies reported approx. $9000 in income without sending us a 1099. We had been disputing this amount and it never was resolved. They must have just written it off and then reported it as income. We were working with a company in regards to our credit card balances and they have told us that Citibank reported a lot of these in error to the IRS. That, in fact, since we did not settle with them and it was in dispute the entire time Citibank should not have reported it as income. They said the only thing we need to do is send a letter to the IRS stating this fact. My question to you is: Does this advice sound right to you. Is this a fact that if we never settled with them that we shouldn't have it considered as income on our tax return?" THANK YOU ALL for a wonderful educational tax season again!

With 3 cousins as lawyers, one nephew finishing law school and a soon-to-be son in law that's a lawyer - - -I find the above - - -- VERY FUNNY !!!!!! THANK YOU!!!!

HOLY @#$! - - - -WOW!!!

I semi retired about 8 years ago - - went from 640 to around 135 - - -that would be my case load - -NOT my weight ( I wish!!) - -soooooooooo I am 107 DONE - -13 waiting further info , 10 appointments and 7 left to check in - -I have a NO EXTENSION policy - -that I pretty much follow. I do NOT miss those huge years - - wish you all luck!!!

hmmmmmmmmmmmmmm

It is my understanding that in some dioceses, the housing is NOT included in the W-2, hence the very low income.

OK - - -sooooooooooo is this EARLY this year - -or is it just me??

Home office - - The GOOD - -heck -- you can TRY to schedule around the family - - do the wash in between clients - -start dinner - -etc The BAD - - - clients that call during the time you are talking with the kids - - trying to sort something out while on hold - - -etc The UGLY - - -getting caught in your jammies when one shows up - - um - -an hr early or the wrong day! 28 years with a home office - -got caught twice - - -

I have my second audit in 28 years next month - - - am NOT looking forward to it - -and am actually going down without my client - - - should be interesting! As I have learned with Drs - -always try to get the first appointment of the day!

TEE HEE !!!

THANK YOU!!!!!!

Hang in there & gook luck!

I have been self employed for 28 years - -starting off slow & reaching a banner year of 640 - -which was really challenging! First - -NO WALK IN'S - -appointments only! Have a designated mailbox or whatever for drop offs. Try to "bunch" up the appointments if possible - - -nothing like 1 in the morning, 2 in the afternoon - - -with not enough time to get anything else done. Second - -keep incoming calls SHORT - -give them only 3 options for appointments - -because you KNOW they will be yelling back & forth to their spouse etc. Caller ID on my phone let's me know if I should take a call when a client is here. Third - - -Ask them if there was ANY change from the prior year when you have them on the phone- -I rattle off, retire, move, marry, divorce, new kids, college whatever, and now new car, furnace, windows etc. Tell them to bring EVERY tax statement they need. Forth - -the first year is always the hardest - -putting all the information in - -so they MUST bring in the last year's tax return for numbers etc. Missing info can be sent via fax, mail, drop off or e-mail. Fifth - - give yourself a scheduled "break" - - -cars don't run well on empty - -neither will YOU! Sixth - -once you get the hang of it - - -run-of-the-mill tax returns can be completed within 20 minutes - - go over it on the screen with the client - -print it out - -subject to verification & send them an email or hard copy of any changes when e-filed. 90% of my tax returns are done this way - -figured it out many years ago - - I know everyone has a system that works for you - - maybe this will help. Good Luck!

Try living in New York!!!!

Pacun, Thank You!

THANK YOU - -will do!

Ok - -federal agent moved from NY to VA in May and was unaware that he was having DC withholding instead of VA until he changed his address on the W-4 in Nov. when they closed on the new house. From May to Nov they were renting in VA. Now I have 3 different states, however, he never resided in DC. Is there anyone familiar with this situation? Thanks!

RDennis - -YEP - -that's EXACTLY what they told me to do - -and it works!