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And that is one of my best pet peaves. If the bank wants to be in the payroll service business does that mean I can be in the banking service business. Just saying - they have no more business doing that than the man in the moon.

Why were they not transferred in at net book value?

Never had to do it but the Tax Advisor has this article on it.

State of IL went after funeral homes for not itemizing the receipts, apparently some funeral homes were charging over $2K for clothing and accessories and they were not collecting sales tax.

I wanted to stretch the imagination without insulting.... Not all y'all know me very well. I have fun with the folks I like... For example, my chosen moniker, Edsel, was named for one of the most colossal marketing failures of the 20th century...

This year’s 1040 MeF Production shutdown/cutover and acknowledgment retrieval schedule: 1040 MeF Production Shutdown/Cutover Schedule Shutdown begins on Saturday, November 18, 2017, at 11:59 p.m. in order to prepare the system for the upcoming Tax Year 2017 Filing Season. Important Note: States who schedule retrieval of their state submissions may have to change their schedule in order to retrieve submissions in time to validate returns and submit acknowledgements by 11:30 p.m., November 18th. Anything not retrieved through MeF by 11:30 p.m., November 18th, cannot be accessed again until MeF reopens for 1040 MeF Production for Filing Season 2018. Shutdown Deadlines on Saturday, November 18, 2017 Transmitters: Transmitting Submissions (State & Federal) 10:00 p.m. Retrieving Acknowledgements 11:59 p.m. States: Transmitting Acknowledgements 11:30 p.m. MeF Assurance Testing System (ATS) Schedule ATS will remain open throughout this production shutdown/cutover period. Important Note: BMF returns are not impacted by this IMF Production Shutdown/Cutover schedule. The BMF Production Shutdown/Cutover schedule will be communicated in a QuickAlerts, outlining the exact timeframes, in early December and the times will be posted on the MeF Status Page. Please monitor the MeF Status Page for any updates. We apologize for any inconveniences and thank you for your cooperation. Please see new release IR-2017-183, issued Oct. 31, 2017 for disaster victims and paper returns information.

Payroll is one of our profit centers. It is the lowest part but we have about $30,000 per year. And they are all small businesses that we do it for.

Illigitimas, that's a great question. You're from somewhere Illinois and I would think the fee structure would be tremendously different in Carbondale versus Cook County. Payroll is my least favorite service, and if you have a client who won't do what he's told, there's no fee high enough. There will be ugly letters and penalties from the IRS and state, and we will be getting the blame for them. I will attempt to answer the question as what is appropriate for Manchester TN, which would even cheaper the Carbondale because we have no SIT. $35 per payroll, plus $1.50 for every active employee. Then $35 for each payroll tax report, meaning one per quarter for SUTA and 941, and ever how many there would be for your state withheld SIT. End of year $35 for each W-3, plus $2.00 for every W-2. And this is on the cheap side. This is a representative answer from my part of the country, as I don't put my actual rates on a public forum or over the phone.

I charge a minimum of $60 for 1 employee with 1 monthly paycheck.

No. Technically they are supposed to report their trades but reality is it isn't traceable for most people. When one sets up a wallet or trading account, the SSN information isn't exchanged. A bank account or credit card number MAY be exchanged. A company that pays with bitcoin and would normally be required to issue a 1099 is still required to issue a 1099. The IRS is supposedly trying to figure out how to monitor who is trading but part of the allure of bitcoin is that this isn't really possible. That's why the majority of the coins are owned by foreigners (and criminals) looking to avoid government oversite. Very few of the public owned bitcoin actually ever circulate and that's why the price has skyrocketed. The last time I checked, the US Government is one of the biggest owners of Bitcoin and they can't sell it because it is evidence.