Leaderboard

Dear Client, I am so happy to hear that your spouse has finally retired. Nice to hear about the severance and the rollovers and distributions from your retirement accounts. Remember when we talked about this in April (while completing your tax return at the last minute) and I asked you to set up an appointment with me in the summer to go over your potential tax considerations these moves? Asking me to cancel my Christmas Travels to meet with you and your husband to go over this is totally not going to happen. You have a Merry Christmas too. Tom Newark, CA

Dear Client: Thanks a bunch for coming in (surprise!) on Christmas Eve Eve to get me to figure the tax on the gain from the sale of stock you are about to make. A phone call would have been too easy. Thanks also for not having a clue about your basis; it's overrated anyway. Psshh. Thanks most of all for telling me you will save $10,000 "just in case" after I figured that the tax will be $6,000 if your basis is zero. Your confidence in my advice is appreciated.

I actually started in about 1973. However, the use of pencil and paper as well as the unavailability of forms, greatly limited production. I slowly evolved over the years to the purchase of a copy machine (such bliss) to the purchase of my first computer. In the course of working for another accountant, my own practice was beginning to grow. I was able to maintain a part-time Dental Receptionist job for 20 years because they were willing to work around my tax schedule. It finally became a case of give it up or give it your all. Well, I am still here in a new office addition. You really have to wonder when enough is too much. I hope I have the sense to know when it is time. Happiest and Healthiest of Holidays to all of you and Merry Christmas!

Peace on Earth and Goodwill to all on the ATX board!

My first season was 1981, and I've worked in public accounting my entire career. Is there really an end in sight?

My first season was in 1979, but I was still an intern in college. We did them by hand first in pencil and then finalized them after they were reviewed. I don't miss doing them by hand, but I do miss being able to rattle numbers off of the top of my head, because the rules were easier and didn't change constantly. I used to be able to memorize almost everything, but now I have to look everything up.

Dear Client's Investment Advisor, How come you and client both called in early Nov about withholding from the RMD, both got my messages about the Fed AND state amounts, and only managed to withhold Federal tax when one of the points of your call was to tell me that withholding state taxes was possible this year? How did you manage to not withhold any state tax even though I gave you the exact amount in dollars and as a percentage? How is that we've talked about an annuity payout at least 5 or more times this year, went over the gross, withholding and net numbers each time, and yet you still failed to tell me that the a portion of an amount that was to be Federal withholding was shifted to the state? Why don't YOU tell the client that she will owe taxes, either on estimate or with the returns since this was your doing? Oh, you want me to project 2016's tax liability and adjust that annuity withholding now when you can't give me solid data for 2015 without the numbers continually changing like shifting sands under my feet? Why did you set up the annuity payment to be in very early March of each year when you know this is a complex return that couldn't possibly be ready or projections done before the distribution is made? Why must you wait until the very last week of the year to make the other RMD? No it's not an inconvenience at all. Remember how you stubbornly insisted that you wanted to control the timing of the RMD each year and not set it up for automatic calculation and payment through your computer's system, and then that very first year you completely forgot to make any RMD to this client? Remember how in Jan 2013 you nervously called me and asked about the provision that would allow the RMD to be paid to a charity to get your behind out of trouble for the 2012 missed distribution? Remember how unhappy our client was about giving that to charity? Remember, do you? Client is presently out of area for the holiday, and if she decides to stay on beyond the 4th quarter estimate due date, at least I know that she has enough paid in that she won't be subject to an underpayment penalty. I thought I gave up babysitting as a teenager.

5. Upcoming Return Preparer Office Educational Letters The Return Preparer Office will be mailing the following letters on Tuesday, Dec. 29: Letter 5271 to 5,000 return preparers. This letter reminds them of their responsibilities when preparing returns that include the Child Tax Credit and the Additional Child Tax Credit. Letter 5272 to 2,500 return preparers. This letter reminds them of their responsibilities when preparing returns that include the Child Tax Credit and the Additional Child Tax Credit when children with ITINs are involved. Letter 5573 to 2,500 return preparers. This letter reminds credentialed return preparers to inquire about 1099-K income when they prepare Schedule C returns. (Letter 5574 on the same topic was sent to 5,000 non-credentialed return preparers in August. It was sent earlier because it encouraged the recipients to take CE on the topic and to consider participating in the Annual Filing Season Program

My first tax season was 1980 but I've been in and out of the public practice over my career. But, yeah, the end is near.

Merry Christmas!

Here's wishing all members of this forum a Merry Christmas and a prosperous New Year. Next year will be my 34th year as a practitioner. I enjoy the work but realize that not so far down the road I will have to pack it in. It's great to know that we have this forum as an additional information source and can enjoy the friendship of it's members.

Merry Christmas to everyone. Here's a favorite of mine: Stopping by Woods on a Snowy Evening By Robert Frost 1874–1963 Robert Frost Whose woods these are I think I know. His house is in the village though; He will not see me stopping here To watch his woods fill up with snow. My little horse must think it queer To stop without a farmhouse near Between the woods and frozen lake The darkest evening of the year. He gives his harness bells a shake To ask if there is some mistake. The only other sound’s the sweep Of easy wind and downy flake. The woods are lovely, dark and deep, But I have promises to keep, And miles to go before I sleep, And miles to go before I sleep.

Dear Client, I use my judgment in resolving questions where the tax law is unclear or where conflicts may exist between the taxing authorities. Unless you instruct me otherwise, I resolve such questions in your favor whenever possible. However, the opinion I express does not bind the Internal Revenue Service (IRS). Thus, I cannot guarantee the outcome in the event the IRS challenges my opinion. You remain responsible for any tax or related liabilities resulting from an adverse IRS or judicial decision.

Lunch Break.............

Uninstall KB3035583 http://windows.microsoft.com/en-us/windows/remove-update#1TC=windows-7 After you uninstall it, go into Windows Update and hide it by right-clicking on it and choosing hide.

Geez! I thought I was amongst the senior servers with my 32 years. OK, you win! But I am with you, there are not too many more years of service in front of me, this is the greatest of forums, and I wish you and all of the others a very Merry Christmas and a Happy New Year.

Marry Christmas, and may God bless us, every one!

To all of you, a Merry Christmas

To all here, I'm wishing you all a joyous and safe holiday, and may you all enjoy the company of loved ones, dear friends, good food and merriment.

IMO, procrastination is no excuse. They have been reminding us for months.

See, now you know I was telling the truth. I should have googled.

I watch it on the radio every chance I get.

Same here. I don't like to upgrade an existing system. I usually wait until I get a new system.

Microsoft keeps popping up a reminder to upgrade. Like Jack once I get comfortable with my existing Microsoft version I usually put off changing until I need to replace my pc or Microsoft stops supporting what I am using.