jasdlm

I hate this form. (Not as bad as 8283, however.) Is there a way to link the parents' return to the kid's return so I don't have to go back and forth between the two? I use ATX. Thanks!

It provides an additional layer of protection in terms of personal liability, but it is not an absolute. The corporate veil can be pierced, and if you are personally negligent, you will still be liable. It is a bit more of a hassle for the other side to pierce the veil and actually attach you individually, but it definitely can happen. The best money spent is on good liability insurance.

Can you just fix it using a 5329?

I think Fidelity is smoking crack, which is an experience I have had with them multiple times recently, unfortunately.

I believe the TP needed to take an RMD because he was a non-spousal beneficiary and parents were already taking RMD (even if they weren't, he is required to take RMD). Gail, how did your TP manage to take a withdrawal from the 401(k) account after his father's death and before rolling it into his own name or a beneficiary IRA in his name? Was father under 59 1/2?

Looking at one just like it now, except the client also added her name in case I couldn't tell who she was from the documents inside the envelope!

I had the same problem. Fixed it with the basis. Just a quicker solution all the way around if the basis is high enough to eliminate your problem.

Carbonless copy paper (CCP), non-carbon copy paper, or NCR paper (No Carbon Required, taken from the initials of its creator, National Cash Register) is a type of coated paper designed to transfer information written on the front onto sheets beneath. It was developed by chemists Lowell Schleicher and Barry Green,[1] as an alternative to carbon paper and is sometimes misidentified as such. Instead of inserting a special sheet in between the original and the intended copy, carbonless copy paper has micro-encapsulated dye or ink on the back side of the top sheet, and a clay coating on the front side of the bottom sheet. When pressure is applied (from writing or impact printing), the dye capsules rupture and react with the clay to form a permanent mark duplicating the markings made to the top sheet. Intermediary sheets, with clay on the front and dye capsules on the back, can be used to create multiple copies; this may be referred to as multipart stationery. Who Knew? I had to look it up. Is this what is in checkbooks when they create carbons?

I have been using the same approach as Max W. The ONE time I did electronic withdrawal, the IRS withdrew the money twice (no mistake on the return; just an IRS debit error). I called (hold, hold, hold) and although they acknowledged the error, it took 8 weeks for the money to be returned. It was a substantial sum of money, and having it withdrawn twice and then being without the additional funds for 2 months was a hardship for the client. I will not do that again.

Client came in to drop off tax information last week. We're sitting together in the conference room going over information. I pull of the 3rd nasty paper clip in a row, and I look her in the eye and say 'Client, these paper clips are older than I am, and I'm going to throw them away now'. Client says 'That's probably a good idea. I got them out of my husband's desk (deceased for some time). He never threw anything away.' What are those things even made of? They feel so awful to the touch!

If I had a pizza restaurant bookkeeping client, I would require more than smells! You bring something that smells like pizza, and it had better be followed by the real thing!

I am telling you, people consistently give me the crappiest, rustiest, oldest paper clips they can find, which they then use to clip together documents that don't belong together. Where are they getting these nasty things?!? They leave rust on the documents! They have to be older than me. And . . . it's amazing the smells that paper carries. I open an envelope full of 'bits', and there's a giant whiff of anything from perfume to cigarette smoke to pickles. Eeegads. People must try really hard to make these packages this 'special' for me.

1 mile. 3 to 6 minutes. 4 stoplights. I'm with Roberts. 'Really Burns My Britches' when it's 6 minutes. That is hilarious, Roberts. I'm going to file that away for future use! My grandfather was and father still is exactly on your grandfather's commute schedule! I'm from KS, but sounds like we have the same sort of hometown situation.

You rock, Jack. Thanks so much!

So . . . did anyone determine a way to turn them off?

Well, that was brilliant, and worked fantastically! Thanks so much. This is one of those 'was my face red' moments. Second one this month, actually . Thanks again!

ATX won't let me efile a 7004 for an estate (due date 2/15/17 on return - we are still waiting on K1s). The error message says 'IRS restriction: Automatic 6 month extension cannot be e-filed when Form Code is 04. Paper file.' I cannot find this anywhere in any IRS information/publication. I do realize there are certain returns for which a 7004 must be paper filed, but a simple 1041? I'm sure I'm being an idiot, but if someone could point out why, I would be appreciative. Thanks.

I make clients drop off information. I try to only meet with client where it is absolutely necessary. I just don't think I could prepare a return with a client sitting there. It would inhibit my ability to get on this site and post comments regarding said clients :).

So sorry. Missed the C-Corp reference. How embarrassing.

I agree with Tom. I believe all liquidating transactions are reported through the K1. If there WAS a 1099, (which I do not think there should be), wouldn't it be a 1099B? Agree with zeroing out the balance sheet. File form 966.

Eeegads! I only complete a total of 400 returns. If I were as efficient as you, I would be 25% through the season. I only have 9 drop offs so far, and only 2 of them have all necessary information.

How frustrating. Did you ever get through?

That really stinks! It's bad enough that we're all working on a Saturday, but crashing servers and wasted staff time is no good.

Jack, I will do the same if you tell me how.

Next person who calls me is going to the absolute bottom of this list - or maybe the absolute bottom of the shred pile.