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Remember, this was the result of the lawsuit saying that the fee constituted a tax not authorized by Congress. The U S District Court agreed and as a result the fee was zero while the ruling was appealed up to the U S Court of Appeals which said the IRS could only charge a fee to recoup the cost of administering the PTIN Program and sent the case back down to the U S District Court to decide the amount of the fee allowed. The current fee is the result of all of the legal wrangling.

Been there, done that, set the drop dead date earlier. They still come in like headless chickens on October 10th, but at least they come in knowing they may well go past the deadline. It actually makes more space for the super-lateys, when the others obeyed the earlier date. And I force myself, yet again, NOT to care more than they do.

Thanks Judy and Hahn. As it turns out, there was a listing of sales in her business that I had missed. That put her into profit and her Roth contribution is OK! Phew.

I did this today as well. Thieving you-know-whats. It's so sad that we have to pay to work for the IRfrikkinS for free.

Current estimates are that the IRS still has a backlog of 2.5 million unprocessed paper filed 2019 Form 1040s.

We were supposed to get refunds of the excess fees. But if you believe that, I have some magic beans I'd like to sell you.

Received this today. My only practical reply was to suggest to contact their local Congress person and Senator (and if the businesses need the funds, they should be adjusting their deposits accordingly, instead of counting on a timely refund). "In the 2nd quarter many of them qualified for the retention credit on form 941. From the clients we have spoken to, none have received their refunds yet. I have been researching and it is only suppose to take 6 to 8 weeks. I am at a loss as to what to tell our clients. Do have have any idea why the refund is taking so long? Thanks for any information."

Thanks Abby, that did the trick! I appreciate the timely response.

I do it in December every year. It's a repeating task on my calendar. When there was no fee, I did it in January once or twice.

I'll do it late this week, or next. Yeah, I got the email too. You probably did, Lion, and it never registered because it wasn't germane to your current workload.

Controllers are allowed to compile a set of financial statements for management's internal purposes, and is typically part of the job requirement to do so. To be clear, the statements Tom asked about are not being issued directly by him to any third parties. Company management would be handing them over to the company's outside CPA that has been hired to audit them. The outside CPA firm is the party that is "issuing" the audit report as part of the complete set of financial statements by doing a lot of work that gives reasonable assurance that the monetary amount and other disclosures fairly represents the position and results of operations of the company and are not materially misleading to the reader. Except for very large clients, I really wouldn't expect anyone other than the CPA firm, or in-house CPA or CMA, to write the notes to the financial statements, especially with the complexity of today's reporting requirements. Sounds too much like someone is passing the buck here, and yet the CPA firm will still be required to go through its disclosure checklist to verify that everything is adequately disclosed, and if something is missing, they'll still have to address it in communication with management to have it corrected. Tom, I agree with PapaJoe that you can start with updating from last year. Basically, that is what the CPA firms do to update from the prior year's statement, and then add or modify as needed. The problem with the CPA asking you to write them is that the auditing firm expects you to know what disclosures are required, and exactly what information on those subjects must be included, either in the financials themselves or in the notes.

I just did it to be done with it.

Don’t quote me on this, the AICPA or our state’s society prohibits non- CPA (licensed) on preparing financial statement to present to third parties and worst prepare notes. I believe this applies to when compilations and audits are required, I remember in the past sneaky clients would say, can you send the bank our companies financial statements on your letterhead, here is our QB backup, they are already done. Read this: https://www.accountingweb.com/aa/standards/new-financial-statement-service-a-gift-to-cpas-and-clients Maybe they think you are a CPA

One solution is to leave it in and pay the 6% excess contribution penalty and then apply the contribution to 2020. Of course, this only works if she has earned income in 2020, is not over the income thresh-holdings, and otherwise meets the contribution requirements.

Saw on another site that a tax preparer is interpreting the 21 November end date for using the non-filers portal to file for an EIP as the possible end date for e-filing.

I've been turned off by the IRS for decades.

GAAP, partnership, audited financials. Knowing the specific industry may also be helpful if there are specific guides for it. Fwiw, I use only the guides from PPC (Practitioner Publishing Co) through Thomson Reuters. If looking at its products, I'd start with the guide called "Preparing Financial Statements" that goes through each major item on each statement and has a chapter on disclosures that includes summary and comprehensive checklists of required disclosures, either in the statements themselves or in the notes. The appendix to that chapter also has some illustrative notes. PPC also has a "Trends" volume that I believe is also included with this particular publication that has complete financials submitted by practitioners that includes the notes. The index to that guide allows the user to look up examples of individual notes by subject also. PPC guides are the only ones I've ever used, and I'm sure other publishers of reference materials will have something along similar lines, including WK/CCH, and the AICPA. PPC non-subscription products have a 30-day satisfaction guarantee. Those on recurring subscription have a different cancellation policy.