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A client who filed in October last year called last week to advise he got his refund at last plus $275.00 in interest. The interest sorta soothed his pain.

The old saying - the only two certainties in life are death and taxes - but at least death doesn't get more complicated every year!

My barber uses Square. I can’t think of a better recommendation for its services. But he doesn’t dispense tax advice, which is a bit puzzling.

I have two who called me last week that they finally received their refunds. Filed about 20 February. Single, retired, over 65, SS, small pension w/withholding, standard deduction, received EIP1 & 2 so nothing on line 30 (IIRC), no unemployment. States sent refunds immediately. Luckily they were both pretty patient. One contacted me once and then waited. The other contacted me via email multiple times, but understood that I couldn't do anything; he just wanted reassurance.

It looks like train of thought notes you made to yourself and transcribed them here. If they have already filed the LLC , why are you even asking these questions? I will make one comment here, LLC's are extremely overrated for providing protection and even more so SMLLC's. The veil of protection can be easily pierced. A small LLC will have to provide personal guarantees to get loans and a lot of vendors will also require personal guarantees. The best protection for a small business is good umbrella insurance.

I have had several that have not received their refunds after 6 - 8 weeks. I wish IRS would do something to update their website information and actually provide some real information that would be helpful to the taxpayer who has been patiently waiting.

The IRS is not accepting e-filed extensions after 17 May, but you can paper file extensions for TX and the other states with later extension dates. (Check with your software for the latest information.) https://www.irs.gov/forms-pubs/extension-of-time-to-file-your-tax-return "Victims in FEMA Disaster Areas: Mail Your Request for an Extension of Time to File To request an extension to file your federal taxes after May 17, 2021, print and mail Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. We can’t process extension requests filed electronically after May 17, 2021. Find out where to mail your form."

Right! After reading this thread, Venmo is a hard "no" for me. I take cash, checks, and already have Square and Paypal. That is enough for my clients, especially now that Square is also offering ACH debit directly from a bank account, and clients always have the ability to pay me via online banking too, or they can go to a MAC machine.

Your tendency to abbreviate and not complete explanations and questions leaves me unsure of what the your clients situation really is and what are the questions you are asking???

There's little sense in calling the IRS for late refunds, as long as the 'where's my refund' page says processing. MD has not processed my refund yet. It usually takes days but my return included the new 502LU form introduced mid-tax season, so I suspect they're giving extra scrutiny to any returns with the LU. Either that or they're programming for accepting LU forms was flawed.

Sometimes these "gifts" are really a "silent/undocumented" loan...

It is used as the "downpayment" and that is why the gift of equity many times is @ 20%. It's one way to allow the sale to occur earlier because the purchaser doesn't have to save up those funds in order to qualify for the mortgage, and it also allows the borrower/purchaser to avoid having to purchase mortgage insurance.

I couldn't last thru this 'acting' thing. But I get the point. I was wondering what kind of record reporting you could get from Venmo.

The responses for this post seems to have individuals on one side of the topic or the other...either for or against. There aren't too many in-between. I've never had an issue with Venmo. I choose to be private on the platform. No one can see who I pay or who pays me except for the person who I pay or the person who pays me. Obviously, Venmo sees the transaction and can use it for their internal needs, marketing etc. Once I receive payment on PayPal or Venmo, I transfer the balance to my bank account. Never, ever an issue. Today's younger clients want to pay via this platform or some other online platform. I'm happy to offer it.

Thanks for all your input. I keep hearing about Venmo and I was about to sign up, but now I think I will pass. I don't want the headache of the social aspect. Tom Modesto, CA

Neither is PayPal. I rarely leave more than a few dollars in my PayPal for that reason. It's not real until it's in my bank.

Especially when they don't even bother to implement a solid operating agreement and if they have one they don't follow it. Too many clients think all they have to do is register with their state, get an EIN and file a tax return, then they're golden.

I'm glad I don't do payroll. ugh

I also heard from a client that she received her deposit from the IRS. Happy to know it is happening and a bit ahead of schedule.

Started using Venmo this year. The response has been good especially among the younger generation. Right now I accept cash, check, Venmo and PayPal. Only had 1 client use PayPal last year. I do not accept cards and most of the younger folks do not even know how to write a check, all they know how to do is swipe. Venmo makes it easier for them to pay me so I am all for it.

Corduroy Frog, online credit card vendors such as Square have no monthly processor fee though there may be an upfront charge for the swipe device. I no longer use the swipe device. In my practice if a client wishes to pay by credit or debit card I go into my online square account, issue them an invoice which is emailed to them. The client may remit payment by clicking on a link to enter their credit or debit card details or ACH details for direct debit from their checking account. In doing so the fees are 2.96% for credit/debit or 1% for ACH. Yes, it is an extra step for me, but facilitates payment. I see vendors these days adding a credit card fee; I do not , or it is not separately stated since my fees for tax returns generally increase a bit every year. Oh, for direct deposit of refunds I require a voided check.

I have not gotten into accepting credit cards, and it has turned off a few people who want to pay everything by using their phone. I've got to wonder how they were even alive before smart phones were invented. They don't see the effect on recipients. If presented with a bill for $100, they think all they have to do is pay $100 and everyone is deliriously happy. I accept checks (and of course cash). I prefer checks because it has the routing # and account # I can use to direct their refund deposit. If they try to read off these numbers to me, they can leave out significant digits, and if I can actually LOOK at them, I have a safer feeling that it will be correct. It's not just 4% or thereabouts you must add to the bill to cover the cost of a credit card network. A credit card processor usually costs $75 per month in addition to the 3-5%. And the $75/month is for 12 months of the year, not just end of January thru April. For my 200 customers or so, it's just not worth the extra amount I would have to charge my clientele to cover this. I'm with CBS on this - cash and checks.

I'm on the verge of signing up with Venmo, too -- gotta have a digital payment scheme of one sort or another now. I really luvved Google Wallet/Pay but last month it transmogrified into the worst method of all -- see the raft of aggrieved reviews in Google Play Store for how mistreated its previous users feel. I would have gone with Zelle as that's being promoted by my credit union, but its EULA requires users to consent to robocalls. What the h*** is wrong with fintech, that commodifying our behavior isn't lucrative enough but it's got to spam us too -- and in the most obnoxious way possible?!

Great point about Venmo's weird social aspect, Eric. I use Venmo to send money to my grandsons (age 20 & 21) occasionally for gas, food, etc while in college. Amazing what I see in some of those comments between them and their friends, and sometimes more amazing they aren't aware that Pawpaw is seeing some of that stuff. Or maybe they know I've already seen & heard it all and it won't make any difference in what I'm sending them. Back to the main point, I've had clients use PayPal to pay me a few times, and it is super easy. I guess Venmo would be just as easy & safe for business. There's also Zelle to consider for business payments, although it's a little more complicated.

I accept checks and cash