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About Pacun

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    ATX Supreme Guru

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  1. I normally use direct deposit and that covers this issue. I did a joint return last year and efile went through and only the surviving spouse signed.
  2. I have done a few of these returns. My clients' wives don't work or make about 3K in a year. So it is very advantageous for my clients to get married right before the year end. You file jointly and send W-7 with wife's passport to request ITIN... along with 1040. You include global income for both and attach a letter stating something like: My wife and I got married on December 30, 201X in El Salvador. She is waiting for her visa in El Salvador and will join me later. In the meantime, we have agreed to file jointly reporting our world-wide income on form 1040. I normally ask both of them signed the return and the letter. Basically, I prepare the letter, the taxes and the signature page to wife and she signs the form and letter and send it back by mail to husband. Husband comes to the office and signs himself and we send the package to the IRS. I love when they marry University students because their income is 0 and most of them save about 5k in taxes. In my practice... spouse is NEVER a dependent.
  3. I wouldn't get involved. It is not your fault and I would let them pay through the nose.
  4. Pacun

    virginia acks

    The good thing about VA is that their last day to file and pay is May 1. I am concerned about a couple MD returns that were efiled on April 16.
  5. I will also buy one for me but in November. If you wait, I will share my DELL specs and price.
  6. It sounds impossible. How much he made? Filing Status? Give the figures of what he paid and what the gov pay and we might be able to tell you.
  7. I agree. If you are running out of disk space, it might be a good idea to by a new computer or remove other programs. Don't mess with ATX during tax season please.
  8. Bulldog Tom, Good explanation of your customer's case and good analogy. If I am not mistaken, that part of ACA will not change next year. Once a person enrolls on the "exchange", the law will remained unchanged. I guess we will have ACA for a while and I am not a fan of it either.
  9. Gail, I agree with you but how do we know that the "loan was really for the benefit of her husband and he is the one who defaulted on payments"? What we know is that the wife was the one that defaulted on the payments and that's why she got the 1099-R. In any event, my clients ALWAYS ask me: "Conoce algun buen abogado que me pueda recomendar?" (do you know any good lawyer that you can recommend?). My answer is "Such an animal doesn't exist!!!!"
  10. Let's keep it within our business. She has a 1099-R with code 1, which means that she has to pay Federal and State taxes in addition to the 10% penalty. That's all we need to know. How SHE defaulted to the loan is "Beyond the 1040". The ex didn't default, most likely, SHE was the one that got fired and didn't have the money to repay the loan. Remember she was the ONLY one that could request the loan, she is the ONLY one whose pay check was going to be reduced and she is the only one the IRS will go after if she is filing MFS. Most of the underlined is just my assumption but we don't need to dig because the 1099-R has better communication skills and its owner.
  11. Thank you for the extra mile, I have both, K1s and Gain/Loss Report from Charles Schwab... and I have regular 1099-div and 1099-in. So out of the three sets of documents, I only have to report ONLY the 1099-div and 1099-Int and NOT the K-1 and Gain/Loss because both are IRAs. Correct?
  12. Client rolled over IRA in 2017 and now it is on the stock market. I have the Gain/Loss Report from Charles Schwab with short term gains and long term gains. It is my understanding that IRAS don't have to report gains but at this point I need to double check.
  13. Don't worry about that case. Take it out of your mind. We all make mistakes. EVERY SINGLE year we make mistakes. Just be nice to them and go the extra mile for them in the next few years and everybody will be happy. When I realize that I made a mistake one year, I make sure those clients are treated nicely and I double check their future returns to make sure I covered everything for them.
  14. Margaret, You are a nice person. I wouldn't return any money if I am the one discovering the error, but I always amend for free if I made a mistake. So, you should amend their return for free.
  15. I had two people that got their refund withheld until they went to the local office. They had to send the W-2 anyways, so it is not worth to efile... but you might be luckier.
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