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About Possi

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  1. Poorly written scam tax emails

    I opted out of the PTIN directory. Maybe that's why I'm not getting these.
  2. Multi Unit Rental That Owner Lives In

    I do this, too. If they decide to take over another unit as personal use, it's already split as well. But mainly for the assets. And for the fees. I do love money. LOL
  3. IRS notices

    Sara, I missed a 1099 in my client's paperwork. Her penalty alone is over $650 (which is my responsibility, of course). My question is this; when she sends her response with the 843 I'm filling out for first time abatement, should she send the taxes owed WITH OR WITHOUT the penalty payment?
  4. electronic signatures

    Other than asking Adobe, how do I know Adobe E-Signatures are IRS compliant? I'm looking for an efficient, affordable way to have my remote clients, and Adobe looks like it would work well for me.
  5. 1099 to W2; no fica withheld

    Perfect. Thanks so much. This has been a real learning experience.
  6. 1099 to W2; no fica withheld

    That's true. Good advice. Still, am I wrong in saying the 8919 won't work for this issue because the W2 WAS issued?
  7. 1099 to W2; no fica withheld

    Judy, do you remember how it was finally concluded? Was the W2 changed? The employer was just made to change this to a W2 recently. I have a feeling the box 1 wages will be grossed up for FICA that wasn't withheld. My client wouldn't have the wherewithal to contact the old employer, and wouldn't have a clue what to ask. I suppose I could call the company. I can be southern-sweet and non-threatening.
  8. 1099 to W2; no fica withheld

    I agree, and do not want to do a disservice to my client. I'm not trying to do this the easy way, I am trying to do this the right way. The problem I have is that the income that was originally on a 1099misc is now on a W2, but nothing is withheld. I am assuming the 1099misc has been corrected to zero out the income that was later put on a W2. I believe the employer has no clue how this was supposed to be handled, and slapped out a W2 to satisfy the IRS with no regard for what is correct. (This is the original filing of the 1040. The IRS has requested the tax return. They will lose their big, fat refund.) The 8919 covers wages with no FICA or Medicare withholding NOT reported on a W2. That is not the case. This income IS reported on a W2. And, may I also say that it makes me a little bit sick that a lazy employer has put this burden on me? I am so grateful for all your help. I truly am.
  9. 1099 to W2; no fica withheld

    Well, there won't be an amended tax return because this is the initial filing. Since they didn't address FICA in the W2, all zeros, and the W2 is not a "corrected" W2, I see this turning into a rat's nest. I bet the 1099 they issued was never corrected to zero, either. But we shall see when this all shakes out. They won't recover the FICA, so that's why I thought they er would have grossed up the box 1 wages. In the meantime, do I file this return as the W2 is written? I don't think there is anything else for me to do.
  10. My client didn't file for 2013 and I just received his information to file the tax return. In this paperwork is a letter from the employer saying that an IRS review demanded that they reclassify my client's income from a 1099MISC to a W2. The problem for me is that there is nothing withheld for FICA. Of course there is nothing withheld PERIOD, but the FICA is concerning me. "Statutory employee" is NOT checked, either. So, what do I do with this? When the IRS classified him as an employee, did that not demand that the employer pay their portion of FICA and include it on the W2, (also bumping up the box 1 wages by that amount)?
  11. Rant for the Day

    The light at the end of the tunnel, IMHO, is when the IRS stops making our offices the stopping point for welfare checks. Nobody should ever get more refund than they pre-paid in taxes without going to a government agency and qualifying for free money. It infuriates me, can you tell? But, I smile and do the Dorito Dance with every big (honest) refund because that's my job. I have a few substantial LLC single owners who routinely use their business account for personal use. I am now insisting they hire a bookkeeper or I am no longer doing their tax returns. Fortunately, I have enough clientele to make these demands. The risk to us tax pros is too great these days, to play around with Sch C's and refundable credits. No refundable credits on this particular return, but I recently had a Single Owner LLC tell me that she did her own taxes this year. She just used MY work from last year, took my numbers out and plugged hers in. I have been doing her taxes for at least 15 years. My only response was, "Good luck with that. I hope it doesn't blow back on you." I felt like I was robbed at gunpoint. Oh, and the best part? I was dropping off the Easter Cantata booklet and CD so she would sing in the choir with us. Praise The Lord! ermagerd
  12. Unreimbursed Partner Expenses

    The first year, 2015, he worked on a W2 from another firm, so that year needs to be prorated. But now, it's all the partnership. Thanks for chiming in!
  13. Unreimbursed Partner Expenses

    Wouldn't that have come to light on K1?
  14. Unreimbursed Partner Expenses

    I will, to see if it's stipulated. But I have never read one before. Always something new.
  15. Unreimbursed Partner Expenses

    Thanks! That's what I thought. All the typical business expenses that would normally be reflected on a 2106 should be deductible there, as it relates to this particular income. First, I need to check his partnership agreement and make sure it is addressed there. I believe if it is an "accepted practice," it doesn't have to be spelled out in the agreement though. Need to look that up again before I go back to this return. I don't know why in all my years, I never was aware of this deduction. I don't do partnership returns or corporate returns. I have a lot of K1's, and need to look back at the partnership ones. I don't think I have but one partnership with active income. But what a surprise this was. I wonder how many others are missing this deduction. Maybe just this one... me...