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  1. Today
  2. Aren't we being a little too harsh on the beleaguered IRS? The virus shut them down at the worst possible time (must be one of Murphy's laws). Unlike most of us, their employees can't just take home a box of unopened mail containing sensitive taxpayer data to work on there. At one time they had several lots the size of football fields of tractor trailers filled with mail, so they are making progress. At the same time they had to get out a zillion economic stimulus payments. Then they must have had a hundred zillion phone calls about it (a few zillion more than we had). Then there wer
  3. Yesterday
  4. Thanks. I learned something new today. Tom Modesto, CA
  5. Based on the online CPE classes that I took, your banks interpretation is correct. My largest client with a semimonthly payroll had a pay date which fell on the first day of their PPP allowable window. I specifically asked 2 different presenters whether these were allowable payroll expenses. Both presenters said the way the rules were written and are being interpreted that my clients paychecks dated the first day of their allowable expense window which was April 16th were definitely allowable payroll expenses along with the related state employment taxes.
  6. The instructions say incurred OR paid: https://www.sba.gov/sites/default/files/2020-11/3508-Instructions-PPP Loan Forgiveness Application Instructions -508 - 11-30-20.pdf
  7. Working with the bank on the PPP forgiveness application. We are electing an alternative covered period as the disbursement date landed the day before the next regular bi-weekly payroll period began. Loan disbursed on 5/7/20, first day of the alternative period is 5/8/20 and last day of the alternative period is 10/22/20. On 5/14 payroll for the week ending 5/7/20 was paid to the employees, but it was for wages incurred before the covered period began. So we excluded it from the calculation. On 10/29/20, payroll was paid for the pay period ending 10/22/20. We included it in the cal
  8. I have one still waiting to hear if it was received, was mailed in April. Two that were mailed in March are now showing received in April but not yet processed. That’s puzzling that a file would be closed out with no resolution, as if they have some kind of job action going on, but we don’t want to assume something so unthinkable.
  9. FYI not trying to be an A-hole here
  10. Just imagine if someone from your office gets COVID and you are forced to shutdown your entire office and clients have no sympathy and want there information done now.
  11. HAHAHAHAA!! Funny, not funny. I'm so torn! I miss everybody. Can't wait for COVID to have a vaccine and we can gather again.
  12. I have used Reimage for the last two years. Some will say that reimage is a virus. It is a legitimate program and I have had good success with it.
  13. Plus complete job security - you can't even be fired for being a totally incompetent loser (although most are OK, some are good, some are VERY good, and some are tolerable). Great pension and health benefits. Yeah, everyone in the country hates your guts (details, details) - but they don't know it's YOU, either!
  14. Last week
  15. I recently uninstalled CCleaner because it was deleting my Firefox add-ons settings and driving me nuts. Windows has built in disk cleanup but it takes a long time to run. If you're really short on space, you can tell windows disk clean up to delete system files as well. It's a shame because CCleaner is very useful. I recently came across a computer with a hard drive nearly 90% full. I ran CCleaner and it got rid of years of windows update files and the disk ended up only about 20% full. You could put a shortcut to your temp folder on your desktop and open it up and delete all the fi
  16. We started the refinance process back in early September. I think we finally have all the documentation submitted that the mortgage company wants. Now it's just waiting for them to grind thru everything.
  17. @PossiI don't know if you have the correct perspective on this situation. I would love to have 3 Million clients returns in backlog who could not go to another business to get their tax work done. I think the IRS must have hired some Ivy League MBA to create their business plan. It is brilliant. Tom Modesto, CA
  18. The IRS has been understaffed and underfunded since 2011. This situation is like slow moving avalanche moving downhill. It will not be fixed anytime soon.
  19. @cbsleeThis post got off track somewhere. Were you able to help your client with their issues? Tom Modesto, CA
  20. My son's dog married them in Colorado when they had to postpone their wedding here twice, due to Covid.
  21. No other company in the UNIVERSE would have that kind of backlog. Why does the government accept this kind of inept operation to continue? It blows my mind. I work for myself and would fire me if I was that bad.
  22. That is a wee bit different from signatures, that's for sure!
  23. Was the 1040X processed? If not, wait. They are millions of paper returns behind.
  24. I appreciate the help. They are going to do more research.
  25. I did a quick amortization calculation 2% vs 2.5% on a 30yr loan, for simplicity I used $100K as the principal amount: $33,063 of interest at 2%, $42,243 at 2.5%. If I were to add $3K to the 100K to finance the closing cost, financing $103K you would pay $993 more in interest totaling $34,056.
  26. A good start is reviewing enrolled agent exam part 2 study materials, you might find a similar example in there.
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