Leaderboard

https://www.accountingtoday.com/articles/a-massive-accounting-hack-kept-clients-offline-and-in-the-dark

The classification of the excavation costs depends on the functional intent and usage. If the excavation was required to provide a sound footing for the Ice Cream Stand and to bring in the plumbing and electrical then it's clearly part of leasehold improvements.

Imagine that - communication from Wolters Klower was a big issue for their customers during the outage.....

Not only with their customers but also internally ! Before I left ATX, I had the same sales rep for about 6 years. The last time I talked to him, I had a very frank discussion about the reasons I was leaving. He was pretty upfront about what was going on within the ATX organization and he was pretty frustrated about the unresponsiveness of upper management !

I think this is common. I think FDNY posted the fix in the past. Search for "Database server" you will see several posts on this topic. Tom Modesto, CA

Because the address containing the incorrect city will be updated in the IRS system for all years, I would file Form 8822 to correct this because you never know if a notice or AUR issue may be coming for the current or earlier years. Unless the State of VA has its own similar form, I'd send a letter requesting the city be corrected in the state's record too.

I just got a notice from a client who got a larger refund on her 1040 and the notice is saying because of a missed HSA deduction. Upon reviewing the 8889 it computed no additional deduction which is correct however an incorrect number on line 3, $8,900, double what it should be creates a balance on line 12 that should have moved to line 13 and then to 1040. The instructions clearly say a self only coverage over age 55 is $4,450 but $8,900 somehow comes over? I just got off the phone with ATX and they are not up yet so they cannot help. I am surprised the IRS computers allowed a number greater than her age allows to be used. If you get any calls about increased refunds and the person has an HSA, go right to that first.

Rich, I'm confused by your statement that an NOL can not be carried back if the election to roll back is not elected. Whether an individual or a corporation, the election is to forego the NOL carryback. Without that election, any NOL must first be carried back before any carryforward is calculated. If the prior years have no income to which the NOL can be applied and if the election to forego is not filed, the taxpayer must still show the calculation that the carryback to prior years has been considered and results in no reduction in the NOL before carrying it forward. I haven't weighed in here until now because I'm still unsure of what was or wasn't elected because of the way Edsel worded his response shown below. Does "indicating desire" mean that the election to forego carryback was included with the 2015 return?

If only Wolters Kluwer could get things back online as fast as you do!

Thank you, Eric, for everything!