BulldogTom

I try to avoid the 2012 disaster at all costs. I don't trust that package. Tom Hollister, CA

Unless you are working with clients who need to do some year end tax planning. Tom Hollister, CA

Yeah. It was only 8 assets on the return I was working on, so it went pretty fast. Tom Hollister, CA

I had a problem with a return like that. What I did was click on the asset in the fixed asset tab, changed it from Sch. C to Sch. A. then changed it back again to schedule C. It flowed properly. Looks like when you roll the return over and the form was not available yet, it needs to be re-linked to the form. Not the most elegant solution, but it worked for me. Tom Hollister, CA

I got mine through a broker called Dimirak Financial in San Diego. Got it a long time ago. The policy is from CNA Surety. Very reasonable price. Never had a claim, so I don't know if they are good or not at claim resolution. Tom Hollister, CA

KC, Do you know how bitcoin works. Do I go out and buy them with cash? Are there a network of goods and services providers that will accept them? So, could I do a tax return for my client and get paid in bitcoins, then turn around and by toner and paper from a supplier that will accept bitcoin as payment? is that how this works? Tom Hollister, CA

Update - I called the agent today and the conversation took about 1 minute. "please confirm the taxpayers ID". "Thank you. I recieved your appeal letter, and I have made a few changes based on the information you provided. However, I still find that the taxpayer can pay in full through an installment agreement. I am forwarding this on to appeals". "Thank you and Happy Hollidays". So now I go on to appeals. Tom Hollister, CA

Nope. I am getting paid in freindship and excellent home cooked meals from his wife when I come over to discuss his situation. Longtime friend came to me and needed to clean up his afairs. I never realized he was not filing his taxes, and I have known him for a long time. After he lost his job, he decided to go into the ministry and he felt like he needed to clean this part of his life up. "Render unto Caesar what is Caesar's...". Took us nearly a year to get all the returns filed. That was no fun. There is no way they will ever be able to pay back all the interest and penalties, let alone the taxes they owe. It is just not going to happen. He makes next to nothing, and she is retired and working part time at the church as a secretary. If I put them on an installment plan, they will not be able to pay more than the interest going forward. I put that amortization schedule in the packet that I sent to the agent showing that even at 3%, the government is not going to get paid back. The agent's report shows ability to pay in full. Lots of funky math in her calculations. Like 25K that she says they have in FMV of the bank account. The statement shows $250 in the account. Interesting math. On the other hand, it ain't my fault, it is theirs. I know this, and so do they. But I am still going to give it the best shot I can. Tom Hollister, CA

The overriding point, which I have made to my clients several times, is that there is no legal requirement for the Treasury to accept an offer. They can say "no", and there ain't squat you can do about it. So I want to be as cooperative as possible. But I do want to get to the next level where I have a chance to speak to someone who is not just pushing numbers around. I might be able to BS my way to a satisfactory resolution for the client that will clean this mess up forever. But I fear the answer will still be "no". Tom Hollister, CA

I type, therefore I am. Tom Holliser, CA

I am working an OIC for a multiple year non-filer. I won't go into the details, this is a question about procedures. The original offer was made and rejected, as expected, by the service. We have sent in a request for reconsideration and request to move to appeals after the reconsideration per the IRS policy instructions. My wife takes a phone call from the agent in Brookhaven this morning, and she says I need to talk to her right away or she will be forced to take action. I call her back but I am not in my office (I am at my day job) and I don't have the records. She says she can't talk to me without the verification information, which I totally understand. She then says if I can't call her back by Monday, she will have to move the file to appeals (I guess that is what she meant by take action). My question - don't I want this to go to appeals anyway? If they are going to blow off the reconsideration by putting an unreasonable time line on the reconsideration, why don't I just let it move forward. I am not trying to be difficult with the agent, but for her to say that I have 1 business day to contact her or the process moves forward, perhaps I just want it to go forward. FYI the appeal letter needed to be in by 12/20, and was delivered by the post office on the 17th. I don't think we are going to get a good answer from her anyway. This is the farthest I have ever gone wiith an OIC, so I am very green as to the procedures at the reconsideration/appeal process for an OIC. Any advise is appreciated. Tom Hollister, CA

How about this: My fees will increase 6%-10% on average this year due to many regulatory and cost factors. I will be happy to explain all the increased costs to you at my standard hourly rate. Tom Hollister, CA

This is a pretty straigtforward transaction. The assets that are being sold need to be itemized (hopefully you have an asset schedule for depreciation purposes) and priced at the agreed upon FMV. Your client will sell all the assets and they will flow through the 4797. The remainder will be goodwill. As lynn EA said, use the form and it will walk you through the process. Tom Hollister, CA

Nothing in my inbox from you KC. When did you send it? [email protected] Tom Hollister, CA

Good information. I had not heard of that before. Thanks Catherine. Tom Hollister, CA

Actually, they are getting better, but being lousy means I will be able to get tickets for their home games against the GOOD SEC football schools who don't care about education. You know, like Auburn (Cam Newton scandal ring a bell) Florida (what are they up to - I think 7 transfers that want to go somewhere else to play because they only care about getting into the NFL), Texas A&M ( bye - bye sophomore Football Johnny). And Vanderbilt is in Nashville, which I could visit on a regular basis and never get tired of going there. Tom Hollister, CA

Both my son's are looking at Carnegie Mellon for their masters programs. Depends on where they get their first jobs. If they stay in the bay area, it is a viable choice for them. Tom Hollister, CA

Backup plans have been in effect for several years. He has applied to the following schools: UC San Diego UC Berkeley UC Davis UC Merced Stanford Rice Cal Poly San Luis Obispo San Jose State MIT - deferred decision to regular admission actions California Institute of Technology - rejected in early admissions action Daddy wants him to apply to 2 more schools, but he does not want to apply: Georgia Tech - "why would I want to go to an engineering school where the mascot is a ramblin' wreck? If it is an engineering school, make the mascot a sports car, not a wreck" Vanderbilt - Daddy wants to go see SEC football games with his son, and I love Nashville. Son - not so much. Tom Hollister, CA

Today was the early decision date for MIT applicants. Patrick was not granted early admission but was deferred to regular admission decisions. Looks like he is not going to MIT. I can't imagine that if they did not want him now, they will want him in the regular process. MIT's loss will be some other university's gain. Tom Hollister, CA

Thanks for the heads up. I did my install from the disk but did not do a program update. I rolled over 1 return and it gave me that crappy error that we got last year that you must open and close the return in the prior year software. I remembered reading this post and decided to check for the update. Downloaded the program update and did the rollover with no issues. Thanks Jack. Tom Hollister, CA

I always do two mailings. Right after Thanksgiving, we send every client a CHRISTmas card with a business card inside. On New Years day we send our letter with a summary of tax law changes, office hours and new office procedures. If the Christmas card comes back, we know our client potentially moved, and we give them a phone call. Tom Hollister, CA

I think the IRS should look at her tip records. Nothing like a friendly audit of your voluntary tax return to find the truth. Tom Hollister, CA

I wonder how long they will continue to print if we don't raise a stink about it? It is clear to me that they are pushing their books onto Intelliconnect so that they can market that product to us. If we have to use Intelliconnect to get the materials that we want and need, they can expose us to more marketing. "Look at all the other stuff Intelliconnect does? Don't you want these things?" Then the bundles will start coming out, and if you want a certain product, you have to buy the bundle that it comes in. Just like the cable companies do. I can't get just the ESPN channels on my service, I have to get 18 foreign language, 12 news, 8 public service, 15 shopping and 20 other channels to get ESPN. Then I have to buy 50 more channels I don't want to get ESPN U and ESPN 3. I think CCH will follow this model. If you want MTG, you have to buy this bundle. The express answers will be in the next level up. I could be wrong, but this is how I see it coming down. They are going to take away what we want, only to give it back to us in the package that they want to deliver it in. Tom Hollister, CA

Judy is the biggest defender of the panda because they share the same political bent. Like most liberals, they can overlook any behavior that they feel advances their political bent, even though the same behavior would be an afront to them when directed at them. Do like I did Jack, just block the panda and Judy from your posts. The board is a much more pleasant place when you don't read anything either of them post. Finding the blocked button, and finding out I can use it on a moderator as well, has been the greatest single find on this board. I don't read anything that they say, therefore I don't get upset at the drivel they spout. My name is Bulldogtom, and I approve of this message. Tom Hollister, CA

Anyone know if the 2013 software will have two separate programs again for tax and PR? Or will they put it back together so it is all in one application? Beta testers, did you see this in the new program? Thanks Tom Hollister, CA