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The custodian has no way of knowing this is a 72t distribution, thus distribution code 1. There's no way they're going to change that and they are correct to take that position. It's the taxpayer's responsibility to fill out and attach the 5329 to indicate that it's a 72t distribution.

To me, you are already going above and beyond by not walking away from work today. A SHORT note about tech cost increases is more than enough, and may weed out some who are only cost shopping. You and yours have to come first, always. Can you hire out some of your returns? Maybe even someone here could take a few? Just a random thought.

Wow you have a lot going on. I know you are concerned about your clients and that you don't want to leave them in the lurch. Why don't you send out a letter to your clients explaining everything that's going on in your life and retire now? I am sure most of them would understand. Your health and your husband's health is way more important. This is one of the times that need to put yourself and your family first. I wish you the best.

$30 to $45 per hour wouldn't inspire me to sign up. I would rather spend my time reading a good book

Try another client and then another. If none of them open, then you have a huge issue.

Some of us have reached a point where we don't want to walk away, but it is getting to be too much to handle alone. Myself, included. I took on a part-time assistant a few years ago and she has gleaned a lot of knowledge but is no way ready to go on her own. In short, if your clients want the expertise and experience that you have to offer, they should be willing to pay for it or find it somewhere else. Charge what you have to charge. You don't have to justify it to anyone. Having just had a negative eye diagnosis, I totally get what you are saying. Panic is setting in, etc. I wish you all things good. None of us are magicians. Handle what you can or what you want to and try not to worry about the rest. I have already called for help. My heart is with you.

When the broker set up an IRA distribution request form there would be a checkbox for the 72t distribution. Then the broker enters that when they make the distribution request and that's how the code is entered properly. The custodian has the ability to fix it, it just may take 6 months. Our firm runs a new set of corrected 1099-r forms in July I think. We can also fix a 1099 and change cost basis but it won't run until July. If the client follows through for all the years, the IRS will be fine with the current method. I don't know all the facts for why the firm is refusing to correct. For example maybe they didn't meet the distribution dollar amount requirement when they took the distribution or maybe they skipped a year in the 5. For example maybe this is year 5, they skipped year 3 and now the client wants a corrected 1099 and that's why the broker refuses. For example, I had a client several years ago who wanted to retroactively enter into a 72t agreement and his distribution amount wasn't based upon life expectancy. We refused to correct the 1099r.

To soothe a little. Major companies get breached because they offer a better ROI for the baddies. I am not obligated to any entity to prove I am secure. I am obligated to myself. I use a top of the line physical firewall which I set to be very strict for my work machine. Likely, it is as good as any :commercial grade" firewall, as I actually set it tight. Monitored firewall is likely OK, but I would bet some amount they use the same settings for most of their clients (a default of sorts) to keep their support simple. I suspect what you are really paying for is someone else to be in the liability chain (if they were not smart enough to waiver out). On the other hand, there is at least one locality who has legislated "security" (likely for their own political perceived gain) where data is required to be in the physical control of the person, and stored within the jurisdiction. No online backups for those folks, and in the real world, worse security.

I would consider it to be a reduction in basis of the related assets.

The parent who provides a home, which was the home for the child for more than 6 months in the tax year, enters the social security number of the child and checks, "Not claiming this child this year" and qualifies for HH status. The other parent can enter the social security too and claim the exception. if there is another child living with this parent, that other child will qualify this parent as head of house hold and both can claim HH status. Of course the social security can be used on both returns as long as only one claims the exception. My brother never saw his child for 10 years and every other year (even years) the mother would sign the release form for the child. The mother every single year was HH and every even year was HH without a child as a dependent. The IRS never questioned them and now the child is an adult.

No problem (except for incorrect data appearing)--I would open 2022 and make sure everything is functioning normally there.

No problems here. About 8 rolled over. Tom Longview, TX

I've only rolled over one so far. I didn't have a problem. I have rolled over several payroll returns with no problem.

The consulting fee is a service deductible by the buyer when paid and taxable to the seller when received. Per the agreement, it appears 15% of each payment will be allocated to the consulting fee. This is a buyer friendly part of the agreement. Unlike the Goodwill which is amortized over 15 years. 1099 amount for the year is $23,550 by my math. allocated: 80%, 3% ,2%, and 15%

If you file just HOH, you have to enter the ITIN of the person who qualifies you for HOH even if not your dependent. Hence, same ITIN will be on both returns.

Ah labels. We have photos of our "label" days. All kids present sticking 5160 labels on postcards or mailers, then dealing with the postal employee who does not understand permit mail does not cost more than stamped mail. Last season I used an online service which mailed the art I sent to the list I sent. They charge a little more than the materials and postage used to cost me, but less than I had to pay the kids. It does take about three weeks, but they likely bundle things with other mailings to get better rates. I remember burning through more than one LJII cart printing the mailers, and using the printer outside to avoid the smell of the paper heating/cooling. It was a big deal to upgrade from the LJII 6ppm to a newer model at about 15ppm! Now, I have a dymo 550 for the few labels I print. A return label (to cover the old address and logo on about 1/2 box of pre printed envelopes, and one for the to address. Also use it for labeling file folder tabs. The label printer is rarely on, i have it on a strip for the things I don't want to vampire (draw power when off).

Nope, and we use 2 factor authentication so you need the laptop and the user's cell phone to get in.