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Showing content with the highest reputation on 11/26/2024 in all areas

  1. The IRS is required to process an original return filed by the taxpayer even after it's created an SFR. Here's some other information on SFRs that you may find useful: https://www.thetaxadviser.com/issues/2023/apr/is-a-substitute-for-return-a-return-understanding-the-statute-of-limitation-for-credits-and-refunds.html
    5 points
  2. I just cannot believe the number of people who pay HRB for money that they would get in a couple of weeks anyway. I offered to take my fees from refunds a few years ago and NYS stopped you from being able to do that. Big Brother here always so helpful. But I never have offered the early refunds. It's nuts how much it costs and is completely unethical in my opinion.
    3 points
  3. 2 points
  4. This is exactly what drew my attention where this newer member would regurgitate the OP question and facts, and then incorporate an answer. It seemed weird and robotic because the tone here and on many forums these days is more casual and conversational.
    1 point
  5. Treasury report from last week stated that 22 million taxpayers used some sort of bank product last year. I thought those days were long gone. The report also faulted the IRS for not warning taxpayers about the fees...There should be fair warning, but I think the IRS has enough to do already.
    1 point
  6. From memory, a SFR is NOT an original return, so you file an original return. Someone will know for sure and cite.
    1 point
  7. I'm just one person so I only have a stand alone PC. I still like to get a new computer every several years. I don't trust the hardware lasting that long. It's just me. I also like to purchase two new external hard drives every couple of years for the same reason. I would hate to try to access them and learn I can't access them. Maybe I'm paranoid.
    1 point
  8. I hope that we don't get slapped for getting off the thread. I still disagree with you Dennis from the standpoint of "If it's not broke, don't fix it" and expense. Since I have an excellent IT man (client) and a small office like mine cannot afford to buy that many new computers and have perfectly good ones sitting on the shelf. I got my update on Saturday and feel as though my computer is new. I even wrote my WISP today and downloaded ATX 24. Now, to figure out multi-factor authentication and maybe all will be well.
    1 point
  9. Thanks. I backup each client file when completed to to a thumb drive which is attached by a usb connection on the front of my pc so no problem there.
    1 point
  10. Support for Windows 10 continues until October, 2025 (not 2024). You will likely start getting more pop-up "reminders" that the end of support is coming.
    1 point
  11. The exception to this would be when you accrue post liquidation expenses, for example legal and accounting fees.
    1 point
  12. The people who need the money the most end up paying outrageous fees to get their money back a couple of weeks early. Never offered them.
    1 point
  13. I have shown zeros when I was faced wiht this.
    1 point
  14. I have a new client who wants me to check and/or correct three prior years. My question to him is whether he wants to pay the price of recreating three years and possibly (or not) amending. Apparently the IRS found something amiss. I prepared his 2023 tax returns. He was already unhappy with his previous preparer. Remains to be seen what he decides. I have copies of the three years in question and they appear fairly complicated so possibly could use a good look. Waiting to see what the IRS changed.
    1 point
  15. The first group of people that AI is replacing are programmers, translators, news anchors, language teachers, and soon accountants. I am happy that soon I will be retired but younger people will have hard times competing with AI. I wonder how many jobs the IRS will eliminate in 5 years by using AI. How about 10 years, 20 years.
    1 point
  16. One of our newer members may be doing this because wording of responses seems odd.
    0 points
  17. Yeah, I have noticed that on the OSCPA Discussion Board that some members are using Perplexity AI to answer other members questions.
    0 points
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