Leaderboard

Back in the day, when the PPL was fully staffed, I used to get great service from the IRS employees. They would listen, tell you what they could and could not due, and what the next steps would be to resolve the taxpayer's issue. Many times, they would be able to take a faxed document and close the issue over the phone. It has been a minute since that happened.... Tom Longview, TX

yes, you have to create a duplicate, won't let you have entries for 1 and 2 on the same K-1

Since the child lived with both parents, he/she is a qualifying of both parents. The HOH, CTC, and EIC can not be split between the parents. All benefits need to go with either Mother or Father. It doesn't need to be the one with higher income as long as they agree. See Rule 9 in Pub 596 for more detail.

Amen to this and I cannot wait for ERC recipients to realize the company that charged them 25% to get the credit DID NOT amend the business tax returns. @schirallicpa charge them another 25% to amend it

I talked to 3 different IRS Employees today My combined wait time for all 3 calls was less than 30 minutes All 3 Employees were polite, responsive and helpful, which for me to say is high praise. Thank You

Thank you Catherine for the heads up. Limited time employees are not subject to tax, but the employer will need to withhold taxes anyway - is that correct, or is there a way around that? And then it may be hardly worth the trouble for employees to get refunds. At least we know somewhat of what to expect. Thanks.

What a sad state of affairs when a government employee doing their job is something we take notice of because it is so unusual... Tom Longview, TX

I don't know if this will work, but it is worth a try, I did this for a different form that wasn't transcribed and it worked. Call the IRS Business and Specialty Tax Line 800-829-4933 and have a 2848 ready to fax. For description, Line 3, use for description "Election by small business" Be sure to check the box on Line 4 "Specific us not recorded ....) Ask them if you can get a copy of the 2553 and - keep your fingers crossed Good luck!

Run! If you offer advice on this at all it could constitute beyond tax advice into legal advice, and you definitely don't want that kind of risk exposure. I doubt your E&O or malpractice insurance would cover you. No matter the attractiveness of fees or having off-season additional work, imho this client is NOT worth the risk.

I'd run. Having compassion for their plight, nevertheless I'd still run). Even if it is possible to form an LLC in Mexico, there will likely be legal complications and reporting. In the end, when it blows up, all fingers will point back to you since you provided the advice (even if you didn't, you'll probably still be blamed).

Congratulations!! Besides your children, grands are the best! D

Scanner, shredder, all this office equipment looks the same.