Leaderboard

For a taxpayer to change their residency, they have to leave the old state and "stick the landing." VA will look at her facts & circumstances, so you must, also. I just took a great FREE course from CPA Academy on State Personal Income Tax Issues Created by COVID-19 taught by Mark Klein, chairman Hodgson Russ LLP, but I see a couple of other FREE courses you might want to take on similar issues: https://www.cpaacademy.org/

You're welcome to stick around, working or not.

Since I am 74 now with several health issues I deal with every day, I find all the whining and complaining from all of you 60 year old youngsters highly amusing

Well, I decided to come out of retirement and will be doing some contract work for another firm on a very part-time basis. Retirement is great. You can pick and choose what you want to do. Anyway, I look forward to interacting with you all again.

ATX realized their programming blunder and you are no longer required to enter an EIN for each group of forms that have withholding. It was a tremendously stupid idea to begin with because most people have multiple W2's, 1099s, etc., and the efile already contains the EIN for each W2, 1099, etc. I'd love to know what the concept was behind this idea to begin with, as I can't see any problem that it was solving.

My clients are all long-term clients, often referrals from other clients, their family members. I trust them to mail me a check or pay via my website after their next payday or give me their CC info to charge on a certain date, that type of thing. During 2020 a few asked to pay me on installments, which I took. Two paid their last installments in December, which is not as late as it sounds because I was preparing returns through 15 October.

I take all major credit cards, PayPal, Venmo, checks/e-checks, and cash. Clients can pay me in person (not since March!!), via a link on my website, or give me their CC or bank information (for e-checks) over the telephone that I then process via QuickBooks. My clients seldom get much of a refund, but I do NOT take my payment out of their refunds.

Well, I'm feeling fine, really. I'm coming up on 65 this year and honestly, my temper is shorter and shorter with everything surrounding me. The IRS and tax law changes tick me off. Late changes, more responsibilities put upon us with zero benefit to us. No extra pay for us, no tax benefits. These are signs that a change is in the air. When my bright, bubbly, happy spirit is feeling wounded and tired, it's time. I'm going to talk to HRB about buying my business after this tax season. I would like to work for someone else and be done with running the show.

I turn 74 this year, so I'm going to continue whining! But I agree that those youngsters don't know how good they have it. After I had my hip replaced, it struck me that ALL my joints are the same age as I am and must be as tired as I am! My stepdaughter used to say that I was the only one of her four parents that had all my original parts. That's no longer true, but I'm the oldest of the four so went the longest with only original parts and still have only one replacement (her mom had two new breasts, mom's boyfriend had a new knee and new hip, and her dad/my hubby had two new shoulders before I got a new hip). This getting older stuff is not for wimps!

You struck a chord in me Crank. A common refrain, when is enough enough. I've seen most of my 68th year and like you have led a healthy lifestyle my whole life. But some mornings upon awakening I feel something off and say, oh great, now what is this? I have a feeling for us it's mostly wearing out parts maybe due to a healthy active lifestyle. At least the tax work does exercise the grey matter so that doesn't wear out, something that is keeping me in the game. On an Everybody Loves Raymond episode when Ray was in the sauna at his father's club with a group of older guys, in an attempt to be relative he said "I got up to pee last night" and one of the older guys said, "at least you got up." I guess it can always be worse. Be well my friend, Bill

I heard it on the ATX users facebook page, so when 1040 updated yesterday, I tested it and there was no red error.

How did you get this info? I am guessing their is an update coming to correct this?

Form 8915-E and its instructions: https://www.irs.gov/pub/irs-dft/f8915e--dft.pdf https://www.irs.gov/pub/irs-dft/i8915e--dft.pdf

A good seminar instructor (Chris Bird from Champagne IL) this fall stated that the IRS does not have the manpower to chase down the "rush-and-take-the-kids first" abusers. They not only would have to catch them, but they would also be drug into the facts and circumstances to determine whether someone is righteous or not. This is true even if the second filer follows up with a paper return. Not right.

I will take a post dated check from my clients with the stern warning that if it bounces I will never do their taxes again. Tom Modesto, CA

Just a personal soapbox, this is a great time for you to document your "move to a new computer" process and treat it as a disaster recovery test/process as well. I preach to any who will listen to be prepared, and to get your process down to less than a day (not including time to get a new machine, if you do not have an alternate already setup and in place, which I strongly recommend as well). If anyone reads this far, I still am fond of the surface pro units, with external monitor, keyboard, and mouse, as they can be grabbed "to go" for regular use or emergency bug out, and come with very good built in security for a consumer pre built product.

https://www.irs.gov/newsroom/2021-tax-filing-season-begins-feb-12-irs-outlines-steps-to-speed-refunds-during-pandemic

Same here at 74.

I completely understand everyone's frustration and I'm with you. I started doing this as a side business over 25 years ago when I began getting referrals from family and friends. Over the past few years I've gotten rid of all non1040 clients. Sixty is right around the corner and I keep debating will each year be my last. My worsening health since 2014 has only exacerbated the frustration. As someone who has been health conscious my entire life it amazes me how many people lead unhealthy life styles without significant complications.

I'm not going to send before the 12th. I can't count on no more new clarifications of laws, reprogramming, etc. In fact, the 12th will probably crash the IRS computers! I might e-file on the 13th. But, yes, you can send to your software company when they're ready for holding until the 12th. I will probably have two different partnerships shortly and two different S-corporations to keep me busy after I finish payroll taxes/W-2s/1099s.

Sometimes I'll look at last year's 1098 and call the automated line for tax info. We usually have all the info needed to pass the ID check.

I might be ok after all...

I love the clients that say, "Can't you look up my [insert mortgage interest or tuition or...here] on your computer?" as if I know their personal bank records and stuff !!

It doesn’t give the amount. But I don’t have access to their account records, so it’s the clients job to look it up. No reason to discuss it any further with me until they’ve done their job.

Soooooooooooooo filing season starts February 12th! I am assuming I can still go ahead and efile these early birds who fly in and ATX will forward them to the Service on February 12th. I'll have to explain to the clients that any refund due will be late in coming right ? Like most of you I too am expecting fewer clients this season. I usually advertise in February but have decided not to do so this year. At 78 I haven't been dependent on the business for income in ages but I enjoy it and interacting with those I serve. My family have been involved in some form of small business for four generations and some 150 years and it sorta runs in the blood. Sadly I am the last Mohican.

You make some good points, Sara, and I am sure that is part of it. But I agree with Possi that the attitude of the IRS towards preparers, and the difficulty of getting information or resolving issues in a timely fashion contributes to the retirement fever I have been suffering from the last couple of years. My husband is a bit older than I am, and has been retired for a while now. I have hobbies that I have not participated in for a couple of years, books I want to read and new hobbies I would like to take up. I want to travel while I still can (although that isn't looking so hot for the next year either.) But mostly I am just tired of being expected to audit returns for the IRS because they don't have the time or the money or the staff to do it. That is not what I signed up for. If it weren't for the cost of health insurance, I probably would have retired a few years ago.

One reason that everyone is so down right now is that we just got through the tax season that never ended. We couldn't do much in April because we were too busy taking calls about the stimulus payment and business loans. July was just like the usual April. Immediately after it was time for extensions, and October was just like April. Then it was time for CE. In between there were many more calls from clients who needed help with loans, retirement distributions, new W4s that are incomprehensible, and on and on. We never got a break, and for those who took a few days off there was no travel so we never really got away from it all. Another reason is that there were so many changes to the tax code, and changes to the changes, that our brains are overloaded. We now have to take update courses to the updates we already took. One poster said that she just didn't feel competent going into the coming season, and I think that feeling haunts many of us. Hang in there. We've mastered huge changes before and will again. The new heads of the IRS and Office of Professional Responsibility seem to hear us and to be genuinely supportive (as opposed to treating us like enemies of the gov't and their personal hit men). As the virus winds down and the IRS and congress get their acts together, things have to get better.

I'm only 60 but I feel you! I've already refused to take anyone that's had PPP, EIP (except one existing client and she only got the 10k 'free' loan). My international client is ex-patriating soon. Anyone that quits me, hey it's fine. I figure the computer I just bought will be my last.

I sure hope they give us a new file-by deadline as well. This year, I will be notifying all my out of town clients that they need to find a local preparer. I'll also tell my larger (Sch C) businesses to look for someone else. I am walking toward the sign that says "reTIRED." It will be a slow walk, and I'll keep my small, easy local clients. But I'm so tired. This business isn't fun anymore. They can blame the pandemic all day long, but it ain't the pandemic. The IRS has been beating us up for a long time. Congress doesn't move in time for anything. Nobody does their job anymore, they just blame the other guy... or "the pandemic." So tired of it all. Donna Downer

I sent my "new tax year" email to clients on January 2. Looks like I may need to follow-up with another email to update the efile date of February 12; but more importantly to offer additional guidance on what clients should be providing me in regard to stimulus payments. Did they receive the payment(s) and how much exactly?! It should be a "fun" season!

but they opened there "free E-file" on their website today. How does that work? oops, never mind they can do return but won't be sent to IRS until the 12th also.

Wow, that is a lot to deal with. Sending prayers your way. Tom Modesto, CA

In the past, a taxpayer could take their last paystub to H&R Block to qualify for a RAL or RAC. However, their return would not be e-filed until they returned with their W-2. (Full disclosure: I worked in a Premium office and don't think I ever did a RAL or RAC.) PS: After leaving Block, I make sure that I charge MORE than Block. I still do NOT do RALs or RACs or any other bank products.

I would not mind, otherwise I will have a ton of extensions. I will have to warn my clients again up front. Last year my sister had a brain tumor and my dad broke his hip. Yesterday my mom had a surgical procedure and they found that her bladder is full of tumor. She had been cancer free since 2012. We don't know why it came back. The doctor just told us that there are no good options, so we don't know yet how long we are looking at, but we want to keep her at home, if possible. It will be a struggle for us, but Covid has already messed everything up and we don't want her in a home where we are limited in the time that we can be with her. We can get in home medical care, but I want to spend as much time as possible with her. I am going to have to read up on trusts, because I will have to file for her when it becomes irrevocable. I have not prepared a trust return before, because I always farmed them out. My 26 year old son tested positive for Covid today is very sick. They just gave him codeine cough syrup and supplements. He said that he never expected to get this sick, but he can barely stand up. I hate that he's 500 miles away and we can't even drop off my husband's famous chicken noodle soup. I really hoped that 2021 would be better than 2020, but it's not looking great for my family again.