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Immigrant tax reporting aside, this agreement violates the sanctity of the privacy bond between taxpayers and the IRS. We voluntarily give them our most private data and that of our household members and they lock it up so tightly that most of their own employees can't access it. In my Master's course I learned that IRS can share your data with NO ONE, the only exceptions being suspected terrorism and money laundering. We used to joke that you could list your occupation as Hit Man or Bank Robber and the IRS would keep it a secret. Breaking that bond can further dent the agency's tarnished image. ICE is demanding this disclosure to get immigrants' addresses. I think the tax return is not a good place to look. People move, have PO boxes, use someone else's address to get their mail because their own box is insecure, still use Mom's address because they're away at school or she always handles everything. I'm sure all of us have had a client or two who suddenly notices that the address we've been using for five years has the wrong street number of spelling.

Mine is clients that make multiple times my income but complain they can't make ends meet. When I ask if they make a budget for expenses they look at me like I'm a space alien. Of course they never have the money to make estimates or adjust W2 withholding like I suggest. Yet they think they have the money to buy an expensive new car, live in a McMansion and take extravagant trips. Two of them just this week that look large 401K distributions in 2024 with no state tax withheld and only enough FIT to cover 10% penalty. Another one with a rather large inheritance held in a trust as apparently parent realized they can't handle money. Supposedly, EJ told him he doesn't pay tax on inheritance. He can't understand me telling him he's not paying tax on the inheritance but on what it earns as shown on K1. Since they know they owe I never see them until April when my tolerance level is below zero.

As I understand it, water is not an allowable expense for a home office. (It is for home day cares and home-based hair salons.) The repair is not relevant to the business, just like having the pool cleaned is not.

Even with conversion software, sometimes LTCL and installment sales have to be added manually.

I guess I'm screwed now!

I tell clients who owned original AT&T stock and now own 28 companies that themselves have had mergers and splits to never sell. Just let their kids inherit the stock to save us all a lot of trouble!

If he was using software, the loss would automatically be carried forward... unless he deleted the Sch D because there were no transactions that year. Try getting the oldest transcript the IRS has, get a POA for 2000 through now, and maybe call the IRS after tax season.

That is an excellent point Sara. I have never thought about it, but it certainly follows the meaning of sec 280A (c)(1) "apply to any item to the extent such item is allocable to a portion of the dwelling unit which is exclusively used on a regular basis—"

Copies of tax returns from the IRS are limited to 7 years. Might try contacting the retired preparer. My next door neighbor was a retired tax preparer and when he died all his old record were shredded. I don't know how far back they went, but the shredder truck was out in front of the house for the better part of the day. I doesn't hurt to ask.

I find the more people make the more they spend. But we do have a few that are very frugal with their money.

What Abby said, plus if prior preparer changed software providers without conversion, the LTCL c/o entry may have been missed.

I have read several articles saying that ICE is now intensively searching social media.

I agree with Sara but there is more data than the address that can be used to locate. You can use your relatives' address but the IRS has your work address and that one you cannot modify. They also get your kids name and ss# that they can search where that child is going to school to pin point where you most likely live. I wonder if ICE can request information from banks and also they have your un-real ID. A tax payer will not be able use someone else's address in all circumstances and that's why ICE is salivating to put its hands on IRS data.

I don't treat my clients kindly for what I can receive in return. I don't plan on having a funeral. I can say though that when I was very ill in July, some brought soup; some brought hot dishes. Many sent cards, etc. So, some do care about me.

Judy - you finally found it!! I don't have any of those boxes marked, and I should have marked the "Active" box. My mistake (as predicted) and not Drake. Thanks for the time you spent on this and being tough enough to see it through.

I feel bad for all the IRS people who are going to have violate their code of ethics to do this. In addition to the hardworking immigrants who tried to do the right thing paying their taxes. And the economy, because all those folks have added a lot to it, and paid a lot of taxes, and now are not going to want to have real jobs, they're going to go for the under the table positions.

When you see someone's name pop up on caller ID and your heart drops, fire them. Life's too short to be miserable.

I give them 2024 4th quarter vouchers to use to send in money so that it gets credited to the correct year.

Have you reviewed the Proxy statement regarding tax matters for the merger: https://www.sec.gov/Archives/edgar/data/1732845/000110465924053001/tm243828-20_defm14a.htm#tMUFI

PA has its own sch K-1s for either resident or nonresident partners or shareholders. Do you have a PA NRK-1 ("NR" meaning nonresident)? The PA return should back out the federal information and pick up the activity reported on the state NRK-1. Hope this helps.

Is Westrock the current/successor company? Their investor relations department might have historical data, including a program or spreadsheet that works back through mergers/acquisitions/splits/etc. Remember all the Baby Bells before covered trades?! They had (have?) an online app that let you start from when you sold taking you back to the date you said you bought/inherited and took you through the mergers and splits. You could also start from when you bought/inherited, so it took you through from that direction. I had to use that a few times with clients.

Once a year, my IT man takes the tower out on the porch, removes the cover and blows all of the dust out of the inside.

Agreed. This sort of reminds me of when clients sell a depreciated asset and bring you all the costs from the first purchase on assuming they're all a deduction against the sale and not realizing they've already taken those deductions. They just don't understand how it works.

The well equipment wasn't replaced or refurbished, it was repaired so from my point of view the pipe replacement did not extend the life of the overall water system, it just stopped the leaking.

Being in Ohio also, another issue we constantly have is clients living in a RITA municipal. They never seem to know if they paid estimated to them or not. If they did they never keep receipts. So we always have to call RITA and see if they did. I hate RITA !!! And the sad thing is, more towns are going to them. Would also love to have just 50 well paying clients. But unfortunately thats what we do in a few days.

That's funny. I am happy doing business accounting and payroll, it's personal tax returns that I really don't like!

Obviously all y'all's mileage varied from mine. I do wonder about the rather small (I assume) percentage of the expense will relate to the home office. Glad I don't have this problem with enough of my own!

I was never so happy as when I rehomed all business clients (save a couple of small Sch. C and E) when my other CPA retired. There was no way I was going to do payroll and accounting. My tax season is so comfortable now with about 50 clients and evenly spaced. The turnover is really small, usually passing but it seems there is always another new one coming. It works very well for me for those 10 or so weeks. I enjoy the handful that come in to check up annually and the couple I go to see. Most have been with me at least 25 years.

Negative pressure cases, the typical old style, had fan(s) that blow out, which makes the case suck in dust from every crack, crevice, drive, etc. Positive pressure cases, have fan(s) that blow into the case giving you one access point for dust. Most just have a screen that catches most of the dust, but some actually put a thin filter over the inlet that you need to clean. In the days of big computer rooms, the entire room was positive pressure to keep dust from crashing hard drives that were not sealed. The hard drives even had filters on them to keep dust out. I remember changing those filters on a mini computer I worked with. /end stroll down memory lane

Sometimes clients hear what they want to hear. If other withholding or estimates were already sufficient for 2024 to meet the safe harbor, are you sure that the previous preparer didn't really say that if they didn't pay tax on the gain during 2024 that they wouldn't have the underpayment penalty? That could be the case here, a year later, especially when a client doesn't fully understand and aren't talking with the original messenger that can revisit the conversation and information or advice she discussed.

You must make taxable a part of the scholarship that was or could be used for tuition, in addition to the amount in excess of tuition. For example, if tuition was $24,000 and unrestricted scholarships were $40,000 ($16k in excess of tuition which was used for room and board). If you make $20,000 of the scholarship taxable to pay nonqualified expenses, that leaves $20,000 to apply to the tuition, and that leaves $4,000 of tuition available for the credit. The scholarship terms must allow that $20,000 to be used for nonqualified expenses and it would be taxable to the student. And pay attention to Slippery Pencil re. kiddie tax and getting an accurate statement of account - was the scholarship actually used for qualified expenses in another year, or was it for room and board in the current year.

Oh we have a few of them !!!

We would be $165 and that includes city tax. We have a few elderly clients we pick up and deliver. Been with us forever. 90% of our clients have been with us for over 25 to 30 years. Of course a handful pass and we pick up a handful every year. We do have some that leave one year to try someone else, but they get sticker shock and come back. I can agree to an extent. My father started our business back in the late 60's. Small town and everyone knows each other. Always there for clients and never charged for phone calls or when people dropped in with questions. Fast forward He dies at age 86 and did taxes till he was 84. Over 60 years in our small town. At his funeral there were clients who came, but not many. But we have an extended family so there was a ton there. My point is, your clients, no matter how good you are to them do not care about you in the long run. Your just the tax guy Our easy partnerships start at $385 (two partners with two rentals). We need to raise our rates !!! But like I mentioned in the original post, we are doing away with 1065's and 1041's. Let them get sticker shock elsewhere

Yes, it appears balance due will work. Duh!

TLDR version of post above: DUMP the pita clients. Your life will be so much better.

If you know a good broker (as opposed to the customer service "broker equivalents" who answer phones at big houses, they can dredge up old merger & acquisition historical data from tools they have but we don't. I have a broker I've worked with for years and years who has helped me in just that way several times. The good ones see it as a treasure hunt (and maybe a way to show off, a little bit), and probably enjoy doing something more challenging than selling the latest big thing their house is pushing brokers to sell. Look for a small local or boutique firm as that's where you are more likely to find someone with the tools.

I charge according to the client, the circumstances and whatever number pops into my head. I would not be embarassed to quote my prices. As I said, I do this work "for the clients". I have a Priest client who has been with me for 26 years; one of the most complicated returns that I do. He has his fingers in so many endeavors; investments, rentals, land, three churches and is a chaplain at a local hospital. I spent all day yesterday because his return is a deep dive. At the end of the afternoon I felt immense relief and satisfaction and will charge him $225. In return, I will pay his church $150 to put my and my husband's tiny ads on their bulletin. He will and does pray for me. He loves me unconditionally and pops in whenever he feels the need to ease his soul. This is the kind of operation that I run. Of course, I am not this kind to everyone; and if I deal with a client who I don't feel rapport with, I have no problem sending them down the road. I sleep well at night; my clients reward me in many ways. We have tissues on hand as many times tears are shed in this office. I offer solace, peace and comfort. I offer advice, kindness and the wisdom of my nearly 86 years of age. "My cup runneth over with love". I don't offer this advice for those of you who have to make a living from this job. However, after 66 years of marriage, if we weren't comfortable with our simple life; we never would be. I am grateful to and thankful for each and every one of you.

There should be a place on a fiduciary return to put situs (tax home of the trust or estate). Then it doesn't matter where the trustee (or executor) lives, and frequently they do not live in the same state as the entity. You should not have any trouble. If NYS sends a letter, the response to them it "Trust situs is Florida; no NYS assets, income, or exposure. Mailing address of trustee only."

A couple of years ago I agreed to prep a very simple return for an employee of a business client. Prior CPA preparer charged btwn $450-$500 for a return with one W-2, two SSAs, one 1099int, one 1099R, standard deduction...AND IT HAD ERRORS. HRB would have been even higher around here! Former preparer wouldn't return their calls, and they took it there in person and former preparer refused to acknowledge the error or fix it. These people are really, really nice too. They were really nervous coming to pick up the returns and the amended ones from me, naturally being worried again about the CPA price. I was nowhere near that fee!