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I figured out that I can do most of my clients remotely; heck even a lot of the locals do remote now. I can come down for a week and clear out the stragglers. I'll have to file CA returns anyways since I have rental properties. I got a really nice totally unsolicited offer on my house, and Stagecoach NV is inexpensive. I'll be able to retire or slow down a good 5 or more years before I could without the move. Plus, the new house has central heat & air, a dishwasher, a garage and many many other things I've never had before . And it's on one level...I just fell down my front stairs again so not having any is a plus!

That would not be an authoritative source. From what I've seen on the IRS site it says "due date" not "original due date" even though the examples always use April 15th. Please read sec 6511(b)(2)(A) regarding this date question. When advising your client, please consider that by not filing, the SOL never starts.

It sounds like you have not told ATX how much cash or loan the taxpayer is putting into the deal. The worksheet is in the fixed assets module. If you do not have that, I am not sure where it goes. The fixed asset module has three input screens for the like-kind exchange: Disposition Info; Exchange Info; Replacement Asset Info. You will find the missing piece to your puzzle in there.

I had a client who hadn't filed for six years. The IRS eventually filed a SFR, using single,1 exemption. He finally woke up when they started taking most of his pay. He was married with two children and left way over $10k on the table because it was too late to get refunds for some years, but at least they dropped the liens on his house and paycheck. Advise your client to file because the SFR won't be pretty.

The ways of God and computers are strange and not for mortal mankind to understand. Plus we can't "hug" computers. Unfortunately.

Well, it turns out that no, they were not covered by health insurance January - June, they owe over $9k, and husband left me a voice mail Friday after hours: "To be on the safe side, let's get another extension." These two new clients are going to be two of my favorites in a few years. I just know it.

If he files the 2011 return today, the SOL will start the day it is filed, not in October 2012. If he doesn't file the return, they could come back on him 50 years from now (not likely, but possible). Why not start the SOL and get it over with? Who knows what the IRS might do a few years from now?

Thanks for clarifying.

I was so grateful that my sister, husband, daughter and family and son and family were able to evacuate from St. Simon's Island in time. They had to go to Montgomery AL to find a place, over 500 miles. They are back in Brunswick GA now but can't get to the island for another day or more. My sister could take her 2 dogs but not the several finches that she raises. She is so worried that the extra food and water she left may not have been enough or there may be damage to the house. At least they are all safe though it has been very costly for them. Scary....

Absolutely. When in doubt, hug it out.

It's about time they made a movie depicting the best of our commerce...

The fact that this was paid to the estate is irrelevant to determining how much of the distribution is taxable. The estate would use the same holding period requirement and ordering rules as the individual would have if paid out while the owner was still alive.

This is very good news. Based on the number of persons involved and the amount of money being collected, this was a large scale operation. Other operations that have been shut down involved a handful of people. There are surely others still out there, but for the meantime, my "IRS" calls have stopped.

I'm glad to see this, but I view the news with a mixture of positive and negative feelings. It's probably more a matter of optics than substance. The US government has probably been leaning on the Indian government to do something about this, since so many of the scammers have identifiable accents. So the Indian government "locates" a site (which was probably already well-known to them), conducts a raid, does a few perp walks, and grabs some headlines. Problem solved (at least the public relations part of it). This operation is probably a drop in the bucket and nothing will really change with respect to the ongoing scams. But the government officials can claim they are cracking down and everybody feels better about it.