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The guys below have sure got their ACT together on practice management, but I cain't seem to get beyond the basics. My secretary (wife) will say "If you don't sort through that junk and come up with a tax return in three more days, Btfsplk's Garage is gonna kick your ACT!" So my program goes into action: 1. Scan the Post-It notes stuck around the rim of my computer monitor. 2. All notes are prioritized in order of importance (for example-first on the list might be "See Buffett" or "Call Gates"). 3. Begin top-left and go clockwise, look across to top-right, then down to screen bottom, back across to left, then up again to top-left checking for something actionable (McDonald's/Bacon-Egg Biscuit" gets a lot of attention). Some notes, the sticky part wears out and they fall off, but tech support advised Scotch tape and that fixed that. On a fair day two returns will get done and hopefully all by October 15th. It used to be simpler but the funeral home quit handing out their big block appointment calendars (unless you die). I've upgraded and got a wide-screen monitor (holds more Post-Its). If it gets too crowded, I'll buy a second (need one for Solitaire anyway; I hate for a client to catch me playin' that when I'm supposed to be on their case). ____________________________________ Simplify! Simplify! - THOREAU

Three new tax bills have been voted out of the House Ways and Means Committee with broad bipartisan support with zero "no" votes: https://www.taxprotoday.com/opinion/2019-federal-tax-legislation-starting-to-take-shape?feed=00000158-3f5d-dcbd-abf8-ff7f12270000 I found the most interesting provisions to be: 1. Repeal of maximum age for IRA Contributions ! 2. Change age to begin RMDs from 70 1/2 to 72 ! 3. Increase Failure To File Penalties ! 4. Tighten and Restrict Distribution Rules for Beneficiaries of Qualified Retirement Plans and IRAs ! Also significant is no movement on any of the Tax Extenders or any of the TCJA Technical Corrections !

Terry, I just went to IRS.GOV and typed 'ponzi' in the search panel. There are 13 articles for your review. I have filed a few returns that included the ponzi deduction usually taking the 95% deduction unless the taxpayer had previously elected to be included in a class action suite.

My question as well, if this was, is or is being considered a Ponzi scheme. If so, there is a way to recover the loss.

My client with employees with two last names received this letter Social Security only uses the first surname.