JohnH

Our parents' & grandparents' generations borrowed heavily to pay for WWII, get out of the depression, weather recessions, win the cold war, and various other reasons. Not all those borrowings were smart and we'd all like to have a few do-overs, but by & large we don't seem to be suffering for their "irresponsible" borrowing. I think our kids & grandkids can handle the debt we are passing along to them, provided we use the money to keep the economy afloat and hopefully make progress in the war against religious fanatics who would prefer to put us back in the dark ages. They should be thanking us in the same manner that we should be thanking our preceding generations for having some foresight.

Shouldn't you ask the company or the client to be sure? After all, the transmittal copy of the 1099 shows the same info as the Copy B the client received. I have a client who is employed by a Canadian company. He receives a W-2, but I don't convert it to Canadian $. If he received a 1099, I'd want to inquire before reporting anything.

Yes, the 1120 or 1120S is open and filled in. The 7004 populates correctly (except for 2-digit business code, which must be entered on each one). Another strange thing is that ATX drops the city on the NC Corp Return itself even though this info is clearly visible on the Fed form. Company name, street address, and zip code are there, but the city will be missing. This happens on every NC corp return, even if I delete it and reopen it.

IRS audit guidelines recommend 454390, as MargaretMort said. http://www.irs.gov/businesses/small/articl...=141724,00.html

I thought you wer supposed to initially file the 1040-AUDIT_ME form for this type of claim. The 1040-PRISON is used to amend the original.

I'm having a problem with the NC Corp Extension (Form CD-419) and I'm curious if anyone else is seeing this & what you are doing about it. After verifying that the SOS ID# is correct and checking the box for the calendar year on the "Data" sheet, I find that this info does not flow through to the two copies of the CD-419. The SOS ID# is missing completely and the dates are wrong. The "Starting" date shows 01 01 00 and the "Ending" date shows 12 31 00. I have to override this info on every form, every client. This is so basic that I think I must be doing somehting wrong, but I can't figure out what it is. Have any other NC preparers experienced this?

Booger: Check your message inbox

Who gave you permission to bask in my envy? I haven't finished basking in it, and besides you're likely to get burned if you stay in there too long.

I can't think of anything that sounds like this. Have the client write down the word in Spanish (if there is a counterpart) or a few words that describe it and post it here. Maybe someone can figure out what he is talking about if we know how he is thinking about it in his language.

No, normal filers will not have to re-file for the rebate (unless maybe they had a small amount of taxable income & tax due and omitted showing the SocSec on line 20a). The special stimulus return is only for those who have no filing requirement.

I don't mean to be flippant, but it's a matter of absolute cost. I would probably pursue that course if the software cost me $6,000 - $10,000 and I had incurred a lot of lost time fixing problems, but at ATX prices I doubt the "down-time" argument will carry much weight. They don't have that much to lose if they dissapoint you and you leave, and you don't have much to gain even if they refunded the full purchase price, which they "ain't gonna do" anyhow.

I don't know if this will affect your situation, but my latest update had quite a few forms, it took longer than usual, and there was a program restart with a slower than normal restart. The latest version is 2007.3.40 according to my system.

One small item worth noting is that the sample form on the IRS web site does not show any "Filing Status" checked even though there are two names on the 1040A. However, in other written instructions elsewhere they do instruct that the "Filing Status" shouold be checked.

You are correct, but it's easy enough to override directly on the form. The checking account info will print if you do that. You can also do a "print screen" on page 2 of the 1040. Printing it this way will omit the aggravating "xxxx" entry and leave the routing & checking number boxes blank. This enables either you or the client can hand-enter the numbers. IRS will accept computer-generated returns with the checking info entered by hand - I've had clients do that in previous years. I always print the filing copy in this manner (without the "xxx"' entry) for refund clients who fail to give me their account numbers. This gives them the option to write it in before filing if they decide to do so. Discalimer - I hereby acknowledge that this response only applies to the 20% of us who paper file (actually I thought the number was more like 2% based on some of the comments I get), but keep in mind that we neanderthals need assistance as well, and our poor clients need any advantage they can gain since they are dealing with preparers who are so far behind the technological curve. :)

That's interesting. As you pointed out, I wouldn't know that e-flinging doesn't support this scenario. One would think that IRS expects software vendors to support it since they mention it on their web site. Maybe there's just a disconnect, or maybe IRS is just addressing the comment to paper filers. In any case, since I continue to paper file as being in my clients' best interests, I'll just point out to those who owe money that the ability to have their rebate direct deposited in additional no-cost service that I am providing for them. :)

From the IRS web site: Q. If an individual dies, what happens to his or her direct deposit or stimulus check? A. Stimulus payments will be issued in the name of the individual eligible for payment on a filed 2007 income tax return or to the account designated by the individual on that return. Any issues or concerns involving a decedent's filed return or the related stimulus payment should be addressed by the legal representative of the decedent's estate. [New 2/27/08] Seems to me the rebate is going to be issued to anyone who is eligible based on the 2007 tax filing. So someone who died in 2008 will still receive the rebate, based on their 2007 filing. I'm still not sure about someone who died in 2007, but I don't see anything in the rules that precludes the rebate being paid to them either (i.e., retired couple, MFJ, one spouse died in 2007 - I think the rebate will still be up to $600 each depending on tax liability, or $300 each if only a Stimulus Retun is required). This makes sense to me, because it is a rebate based on prior years taxes paid - death would not invalidate the eligibility.

>>> When you know the plural of "ya'll" is "all ya'll" <<<< But you also need to know that the plural possessive of "ya'll" is "yor'all's"

Pacun: We've been down this road many times before, and with all due respect to the majority who constantly promote its many benefits, I'll begin e-filing when they pry my copy machine from my cold, dead hands. :)

I assume from your post that you are paper filing. Unfortunately, SC doesn't offer the "Web-Fil" forms that many other states offer. That means you can't fill in the form on their site and then print it, but you can print the blank form and then fill it in by hand or type it. But I've taken that approach when it was necessary. Another possibility is to give the client their Fed forms for filing and tell them you'll get their SC forms to them as soon as available. I assume you're updating regularly, but I did notice quite a few SC forms on the update I did yesterday.

Let's say a taxpayer owes money on his 2007 return. He files & pays by Apr 15 (either paper or electronically). He will be mailed a rebate check sometime between May and August. However, if he enters his routing number and checking account number on his "balance due" tax filing, his rebate check will be direct deposited. Probably means he will get his rebate a little earlier. So whereas we ordinarily would not worry about entering checking account info on a "balance due" return, this year the taxpayer will benefit by our entering that info if we want to take the time to do that. (I didn't dream this up - it's explained on the IRS web site)

The phaseout is a straight percentage - 5% of the excess over $75K/$150K. It's explained under the general info on the Stimulus Rebate on the IRS web site

Dont forget to adust downward for income over $75K / $150K, where applicable.

17: You know the grammatically correct use of "Fixin to" and "momenymns" i.e. "We just left church and we're fixin' to go to momenyms for dinner" 18: You're certain that dinner is the noon meal and supper is the evening meal.

But can we still do the musical notes? I forgot how that's done.

Jack: Happy Anniversary to you & your wife. Hope you enjoy your dinner.