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Same people every year, will keep me busy all weekend. Some I haven't heard from as they need constant reminders. So I get into office super early due to workload and go to bang out an email "Hey BabaLou, do you know what date it is?" "It's 10/12 and I'm running out of time" I think to myself it's Columbus Day......Holy Matrimony, it's my anniversary! Luckily wife had a 7:30 dentist appointment, never saw her. I ran out to Stop and Shop and picked up a mushy card and beautiful bouquet of red roses with the green and frilly white stuff. Sitting nicely on the table when she got home. I'm like a hero now. Still going to charge the client extra. Note: That's not the flowers on the left, could have been when I remembered last year.

I am devastated that I wasn't considered special enough to get an invite to renew early! I passed the EA exam in one shot, renew my PTIN and license faithfully, take all the required CPEs and then some (including 2+ friggin' hours of ethics every friggin' year), have never gotten a letter that the returns I prepare are suspicious, am nice to IRS auditors, even defend the agency when clients blame them for everything (blame Congress, I say). In fact, I got my PTIN the very first year they were offered. I am a model, exemplary, legacy PTIN holder and tax professional, so why was I so unfairly overlooked? Daddy likes you more than he likes me! PS. I used to renew in Dec because I didn't want to pay early. I still do, so I would have deleted their early invite anyway. Sour grapes?

The really late season filers are the most disorganized and are still feeding you missing info up to the last second. April 15 wasn't good enough, so if you tell them they have until Oct 15 they will wait until then. If you give them five more days, that's how long it will take them. They are the same people shopping on Christmas Eve I'm sure. You have to draw a line somewhere, and I would never ever allow them five more days. I have places to go and things to do, thank you. Like Abby, I had a client whose return was finished on Tuesday who told me today to reduce some of those business expenses (must have had a guilty conscience). As far as land-building values, I have found that the percentages the towns use don't change. If you have an assessment from 2010, it's likely the land and improvements have retained the same ratio. The accountant who used to own our practice used to use 20% for land--obviously a random number like Abby said. I guess it was the common practice 30 years ago. Things sure have changed when people will buy a home for $1m just to knock it down and build what they want on it. Guess you could say the land was worth $1m to them.

Why would you want to give your client 5 more days to procrastinate?

True. Or they're thinking "Once I give you my shoebox, all you need to do is make a few entries and press a button to send it. Right?" Or maybe they're not thinking at all...

These are the ones we love. We're thinking "two more days," and they're thinking "five more days, six if she works till midnight Monday." Uh, no.

Some clients think there's time left. After all, they still have the weekend to get things together since the deadline isn't until Monday...

I love when clients wait until the extension deadline to give you crucial info. Moderator note - this topic contains the posts related to timely filing of e-filed returns that were originally all posted in another topic that had significantly derailed from its original subject.

Yesterday and for an unknown number of days prior to that, the pins required to un thaw a credit freeze on Experian's website were being revealed by answering "none of the above" to all of the authentication questions. Experian says you should unfreeze and then create an new credit freeze which will create an new pin. Here is a link for more details: https://uspirg.org/news/usp/you-should-change-your-experian-credit-freeze-pin

AZ conforms to federal depreciation, but not Bonus Dep.

Unrealized receivables are "hot assets" - This might help explain it: https://www.lexisnexis.com/legalnewsroom/tax-law/b/federaltaxation/posts/tax-issues-involving-unrealized-receivables This: https://www.cengage.com/resource_uploads/static_resources/0324304838/6668/definitions-11.html This article from The Tax Advisor talks about the impact to the partner: https://www.thetaxadviser.com/issues/2010/aug/clinic-story-08.html tTis one has a good overview too: http://irszilla.com/partnerships/payments-for-unrealized-receivables-and-inventory-items.htm

Why wouldn't they? They probably already have you name, address, SSN , DOB and Drivers License info from the Equifax hack last year !

Can he get an installment sale to reduce his taxes?

I've done it before with zero problems. I just tell clients that the IRS provides a way for us to get 5 more days, and it just adds to wizard persona.

It looks to me that he is essentially selling good will - his client list. Thirty years in business, would lead me to think that most of the equipment is old and of little or no value and the buyer would want to modernize. This could be a sticking point as your client would want something for it.

I 100 % guarantee you it will not be a sale of stock.

DITTO

Ran into the same problem. The Tax Pro web page has a box on the right inviting you to reregister your PTIN. Could it be that the programmer setting this up just forgot to complete it, took a vacation, died, or was abducted by the Russians to gain info for hacking the IRS website??

You can get 5 more days forcing the return to be rejected on the last day. I usually change the 2nd letter of the taxpayer's last name (Smith > Snith). https://support.cch.com/kb/solution.aspx/sw18051

I use the ratio of land to buildings to assign costs. If the assessor thinks 20% is land, I multiply the purchase price times 20% to get the cost of the land.

I've had two give me crucial info (made estimates, capital loss) AFTER I had finished their return.

You have to base it in reality and not pick a number at random. You don't need the tax bill you need the assessment. Assessments are available online in most states. I believe there is a sticky post for sites for each state on this forum. Not sure if VA has been added. Some states have one for each county. VA appears to be by county: http://icare.fairfaxcounty.gov/ffxcare/search/commonsearch.aspx?mode=address

I have been dealing with this for some time now. The pain goes a little further south of the lower back area and usually resides chronically in the same area I sit.

Thank you. Sheesh. This Experian crap is the credit bureau version of chronic lower back pain!

Thanks for posting Lee, was unaware and will forward this link to a number of clients. It never ends.