Lion EA

Done. Thank you, Pacun, for the reminder. Thank you, Eric, for keeping us up and running.

Me, too!

Oh that was just a shot of a bookcase. It's out of my reach, so isn't overflowing, yet; well almost. And, the file cabinet just holds my Jolly Ranchers and pens for clients as they arrive &/or leave. I think I've posted my mess before. I'll add a pic here again soon.

Except that it's snowing here!

You can see the print on top of the 6' bookcase. Office door is to the far right. In front of the double sliding closet doors on the left are my two client chairs. So, clients do walk past the print, but it's over their heads and they are never really facing directly in that direction. It does get a chuckle now and then.

Why do the parents need to amend their return?

I found it at an art show one year. It's leaning atop a tall bookcase with my clients facing away, so it's not in-your-face or even at eye level. But, it's definitely visible right next to my NY Tax Preparer Certificate and a clock on top of that bookcase. I like it. A couple of clients have commented on it. As you say, they're often stressed and that's why they're here and not doing it on their own.

Glad I can pay it back once in a great while!

Your son knows your size from doing your laundry and was concerned that you might not own enough to be properly covered until laundry day or end of tax season, whichever comes first.

It would be a gift if less than FMV, and a related-party transaction, too.

CT has only one real across-the-board-applies-to-anyone-who-owns-a-car-or-house deduction, and they were trying to penalize everyone by reducing it yet again. But, they goofed on their tables and now want it back!

The Form 1099-R must be from the CT Teachers' Retirement Board to qualify for the subtraction of 10% on the Form CT-1040. And, the pension must have been included in gross income for federal income tax purposes, as well as be received from the state teachers' retirement system. The percentage is due to increase each year: 10% for 2015, 25% for 2016, and 50% for 2017 and each year thereafter. http://www.ct.gov/trb Trying to compete with NY and MA retirement benefits, not to mention FL.

CT goofed on the property tax and now admits it: http://www.ct.gov/drs/cwp/view.asp?Q=578316&A=1436 ERROR AFFECTING SOME RESIDENT STATE INCOME TAXPAYERS BEING CORRECTED For Immediate Release: Friday, March 18, 2016 Hartford – Connecticut Department of Revenue Services (DRS) Commissioner Kevin Sullivan issued the following statement. “Late Thursday, DRS discovered that certain information provided to some resident income taxpayers claiming property tax credits was in error. The error does not affect single filers claiming a property tax credit but does affect some other filers claiming the credit. As a result, about 7% or approximately 120,000 of all resident income tax returns processed to date may have resulted in a higher credit to their tax liability. When we make a mistake, we own it and fix it immediately. In this case, we did not correctly inform taxpayers of the additional phase down of the property tax credit enacted by the General Assembly in the 2015 legislative session. This year the DRS will process 1.6 million resident state income returns and while this affects a relatively small number of income taxpayers, I apologize for our error and the inconvenience to those taxpayers. Affected taxpayers who have already received refunds or whose tax payments were completed before the error was discovered will be notified in writing by DRS. Those with a resulting underpayment will be billed without penalty or interest for the balance. Those who already received a refund will be given the option of making repayment now or as an offset when filing for the next tax year, also without penalties. Those whose returns were not processed prior to March 17th will either receive a reduced refund or notice of additional tax to be paid.” Additional Background and Information: The Department of Revenue Services has discovered a miscalculation in the Property Tax Credit applied to the resident Personal Income Tax. For certain filing statuses in the 2015 income tax year, it is anticipated this miscalculation has resulted in about $11 to $12 million in underpayments of personal income taxes across fewer than 7% of income taxpayers. As part of the biennial budget, there was a change to the Property Tax Credit as it applies to the Personal Income Tax, which reduced the income thresholds at which the credit would begin to phase-out for all filing statuses. That was due to take effect on July 1, 2015 and apply to the 2015 income tax year. However, DRS’ system was only applying the change to the resident Property Tax Credit to individuals filing as Single. As a result of this miscalculation, individual taxpayers who file with the statuses of Married Filing Joint, Married Filing Separate, Qualifying Widower and Head of Household, who fall within the affected income thresholds, would either be underpaying or filing for refunds in amounts higher than they should have received. The Department of Revenue Services has stopped processing income tax returns that fit this criteria until the error is fixed.

Paper. Maybe both 1120 and 1120S, including the rejection notice.

Yes, I went through that for a client. (Baby born in October, so family size increased during that month. Two 1099-As, one ending October and the other beginning October.) You don't want to increase column b. I adjusted October - b and my software did all the other math (there were also pre- and post-June forms to account for "pregnancy" medicaid for the mother; four forms in all).

Compared to us on this board, you're one of us! But, then, they don't let me go out into the outside world much during tax season to compare with the general population.

I do know it's pretty specific occupations. But, even if one of those (insurance agent, for instance?) I don't know if being an S-corp shareholder/employee trumps statutory employee. Are you an NATP member? This might be a good use of your annual free question with cites.

Thank you very much for all your help, Catherine.

I have a client with a daughter in college in OH who works a bit there. What a lot of work for a small income, small tax refund, and small I-can't-charge-enough-for-this prep fee!

Thank you Catherine. Mother gave me that number and now feels it is the subscriber number with -03 at the end for daughter as mom's card has that number with 01 and hubby's card 02. Do you have any Aetna clients? Is that worth a try? I realize it's the Aetna administering the Pepperidge Farm Employer-Provided Health Insurance Coverage and in CT, to boot. But, parents' return stands alone. And, daughter had a tiny bit of MA w/h that I won't feel bad if it's held up for any reason. One of those pulling teeth clients. Just got her vesting/basis info for stock sales. Original appointment, but wouldn't leave documents. Document package at a later date but items missing. Info dribbles in. And, they wanted to come in today to review. Made them an appointment for Saturday to review AND sign. I'm going to print and have everything ready for their arrival and hope they are done with they leave, no new info please! Well, I will wait until Friday night to print. I need to finish this.

I'm working on it. I don't take calls unless I want to/caller ID. I don't answer texts via text; I email them back. I return calls and texts by the next biz day via email, but I do return emails the same day to keep clients emailing. I'm sitting here now returning emails and other messages via email. When I first went out on my own, used my cell for biz until I got an office line. Just about weaned all clients off cell when a few regressed to texting me on it. And, a few knew me socially before becoming clients, so have my cell or even home # programmed into their phones; harder to break them but I always return calls from my office phone, or more often email, and tell them I don't answer my house phone during tax season. And, I don't return biz calls from my cell or text. I return emails to try to keep them emailing. I return calls by the next biz day, but usually via email and not phone. The just checking messages get a short No or Started or You're missing cost or.... via email. Just returned an email now with a "preparing returns in the order received" email which I want to put on auto-respond. I do respond to everybody. But, I seldom pick up the phone for anybody! I don't have staff, so I'm the one that has to keep clients happy enough to pay my prices. Sara, your gal I would NOT have answered. I would've waited for her to upload her 1099-R to my FileShare and emailed her or maybe called her when her return was done. I do email clients that I received their documents, because they are nervous about their tax info/SSNs getting lost or stolen, so I would've emailed her when I received her 1099-R. Hubby schmooses with my clients, so I don't have to take the time, when he does pick-ups and deliveries for me. I even have him deal with signatures in the front hallway to keep clients out of my office. He was a teacher for 37 years, so maybe I can put him in charge of client training.

Mom received 1095-C covering her, husband, and daughter with MA income. It's Employer-Provided by Pepperidge Farm, Inc. Mom says coverage is under Aetna ID W 1690 43628. Is that a TIN? And, I still need a number that goes with the daughter alone from her own insurance card? Or, is the W 1690 43628 that? I don't charge these people enough.

You have a good husband. Go get a hug from him.

That's why I would use that form &/or the disclosure form to report that you know what was reported to your client may have errors but you are matching the documents provided or you are making adjustments to report what you believe is correct instead of matching the documents. You have to prepare the return the way you feel is right, and have the client agree with whatever type of disclosure you suggest. Or, don't prepare.