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I called the PPL 4x last week and the longest wait was 19 minutes and they called me back in a very timely manner. The other three times I had immediate access. All 4 calls were exceptionally pleasant.

If it was my client I would expense the property taxes in the tax year in which the property taxes were paid via the mortgage closing. One year clients complain that their taxes are too high, the next year they want to show more income.

Ah, Mr. Google does know almost all. Judy has the gift of the proper wording or using the right key strokes in the search box. She's found stuff for me in the past that I searched for hours trying to find. She's either got that Midas touch or I'm too dumb to ask exactly what I'm searching for

Pacun, I had a similar scenario. Client made an estimated payment for 20k to be applied to the 2022 tax year in Feb 2023. The filing time was extended due to NC being claimed a disaster area due to Hurricane Ian. The IRS did not provide a means to properly route the estimated payment to the proper year becasue of the filing extension. Calling the PPL, first agent said no problem and supposedly put in motion to move the funds from 2023 to 2022. Called back 3 weeks later and was told that the PPL agents did not have authority to move the funds and that everything I was told was not true. Good thing I recorded names and agent ID's The agent went to their supervisor and after they realized this was their mistake, made an exception and correctly moved the funds. Because your client made the error, they may be less than cooperative. Be ready to apply for a refund for the overpayment for the wrong year that was used. Personally, I would require payment to help this client. It is not your error, they can pursue it themselves or pay you to do it with no guarantees. I would tell the client to get his mess straightened up, pay what is owed and then work to get the overpayment, if any, back. They may have already applied the overpayment to what he owes. If that is the case, then tell him to pay the balance and move on.

I think it is the same year - they want to show that they made millions and yet they want to pay -0- in income tax. They are convinced that is what rich people do and if we were just "good" enough at our jobs to find them those same loopholes, they could make money without paying taxes.

I am sure there are some legit ones, but I don;'t know of any this far past where it could have been claimed "live". But, I, like many, get bombarded with emails, sms, and phone calls offering to get me free money because of ERC.

Financial planning projections are silly but they are even more silly if you don't understand the assumptions and how they impact the final numbers. In 1999 our planning software used expected market returns for the next 10 years to be 15% per year and was told regulators prohibited me from lowering that number. nasra.org is all public pension funds and they give what their expected portfolio rate of return is going forward - the average now is the lowest I've seen it and it's just 6.92%. They slowly (very slowly) dropped their returns during 0% interest rates so I'm guessing we are near a low.

I simply googled only "OH-SD100-010" and was lucky. It was the first selection of the resulting list and happened to say it was error codes from the official OH state tax dept web address.

Your client should be able to call and get this moved, supposedly wait times aren't too long right now. If it was my client I wouldn't call for them.

My package is unlimited efile; all states and three licenses as per usual. Something a little different on payroll, but I only do a few 1099s. Yes, price went up, but so did Drake and probably every other program. I have always been happy with ATX MAX and no reason to change my mind now.

Did he eventually have enough in the bank account for the $1,500 that supposedly went toward 2021? If he did, then eventually the IRS should refund that money, but who knows when. Then again, it is possible that IRS will keep the money since he is getting notices. Maybe it is worth a call to the PPL to ask an agent to reclassify that payment to the proper tax year. Client may be out of luck on that though.

Since you are coming back to ATX, don't get the package advertised on the website. Call them and tell them you are switching and what deals they can give you. I bet you they will give you lower prices and they might lock it for 5 years. There a few flavors of MAX and some of them include only 3 states but you should go for the bigger package which includes, all states and DC, etc. free efiling for current year, payroll and other less important pieces.

When Roths were first introduced, the law contained an enticement to convert from an IRA: Convert all at once and spread the tax bill over four years. I did that with mine, and two years later the tax rate went up so I ended up paying more than I bargained for. Now the rate is even lower than it was back then. On the positive side, the IRA didn't have that much money in it so while the tax percentage was higher than it is now, actual tax dollars paid weren't that great. So yes, it's a crapshoot to decide whether to convert or not. Who knew they would change the rules for inherited Roths? Who knows what tax rates will be in the future or what other rules will change? The fact that RMDs are not required is a big benefit for those who may not need the money, but that's the case today and it too may change. Still, I have no regrets about converting mine. It's nice to know it's there and I can withdraw from it if I choose but never have to withdraw (for now).

There are so many variables that conversion decisions are just speculative in my opinion. There are some circumstances when it makes a lot of sense (i.e. one off business loss that drives income negative, so you have room to covert for free) but if you are looking at a linear income stream, you are just making educated guesses about tax rates, inflation rates and investment growth rates. Any of these items can make the best thought out projection look silly a couple of years from now. Tom Longview, TX

My financial planning software will almost always say to convert and will tell you that you've saved $x in taxes. I'm very reluctant because I don't know what the tax code will say in 15 years. How do I know they won't tax ROTH distributions over a certain level of income? At one time it was unthinkable that people would pay taxes on Social Security benefits and most people do today. My teacher friends and clients have been told their entire careers that they'll never pay state taxes on their public pensions and most of them do.

Back to the investment people that have convinced my not so rich clients to convert all their Traditionals to Roth. In my area, most of my clients will pay higher taxes now as they are working class. And they will have less income when they retire. So whose making money on conversion transactions....

You are not allowed to give those records to anyone except the soon-to-be former client without her written consent to release the information. Personally, I wouldn't do that even with permission because that opens yourself up to be a responsible party for those documents being conveyed to her next preparer and this (missing docs) is already her complaint against you. Why would you give her another opportunity to blame you again if there is something SHE has missed giving you in what you have for 2022.

I would fire immediately based on the threat, then do nothing. No need to file a claim or take any action based on a childish threat. Any customer who leads with or starts with some sort of threat immediacy becomes an ex customer. In my case, threats are usually to cancel, to challenge a charge card payment, or to post bad reviews. These are almost allays the first sentence in the first message in a thread. It seems safe to believe these folks have Come to believe being unprofessional is the way to get things done.

I have one like that now. Retired teacher who neglected to give me her NY and CT 2021 Forms 1099-R. I knew she needed them (long-time client) but she claimed she gave them to me with her 2021 tax info in October 2022. She finally obtained duplicates from NY and CT in February 2023. Now she says her neighbor the CPA tells her that I should pay all her penalties and interest because I filed her returns so late!! She is threatening further action if I don't "do the ethical thing." I've contacted my E&O provider who wants me to file a claim. Very time-consuming. In the meantime, she dropped off her 2022 tax info; I filed 2022 extensions for her. And, of course, she did NOT pay my 2021 fee. (She said she was leaving me a check when she picked up her 2021 tax return folder, but she did not.) By the way, this woman has been communicating electronically and was one of my first to use CCH's eSign to sign her returns and receive her review copy a few years ago. But for some reason this year she said she cannot use FileShare that she's used for years nor eSign, not even email except when she chooses to email me. She has been mailing things like the missing Forms 1099-R and Form 8879, adding weeks to our 2021 preparation time.