Leaderboard

Filling out the 114 is fairly basic. Dealing with the FinCen website and Adobe is a huge pain in the ass. Form 114a Authorization to eFile FBARs is required. Same due diligence as a 1040. FinCen is mentioned in my client agreement and the annual checklist. I take the client's word. They sign the 114a stating how many accounts they have. Of course clients get charged for this.

advocating for the preparation of a 706 could give the appearance of self-interest, so it is best that the decision comes from the executor, who should be informed of an estimated cost. There are not a lot of 706's filed these days and they should be prepared with the assumption that they will be audited (although that could be said for any return we prepare). funny story, in probate an executor complained to the judge of a $7,000 bill for the 706--the judge reviewed the size of the estate and changed the bill to a percentage of value, which resulted in raising it to $50,000.