MAMalody

Then it appears that Mike gave my powers of observation too much credit and I did the same for you.

Hmmmm! How do you take a bow back?

Mike

Mike: I think the number must be 34 or less, since Zeke had to have noticed that he had "advanced" prior to posting # 35.

I bow to your greater knowledge and powers of observation:>)

If I read Zeke's posting right, that means that 35 posting makes you an advanced member.

I can't even get a customer ID - what a joke!

Other than our personal profile info, I can't think of anything on the ATX website that is a security issue. In fact, because of this board and a few others like it, I don't find the ATX board any use at all....maybe somebody needs to tell me where to review on the ATX board so I can more fully understand the security issue. ( I almost said "tell me where to go," but thankfully I did not do that.

Wonders will never cease!!!

Lo and behold, the 2006 1120S transmitted today was accepted.

Go figure.

You mean that you received an IRS acceptance 1 hr 27 minutes later for a late e-file return? Cool.

Allowing the carriage house makes sense because it is probably a separate structure, not utilized by the owner.

Try http://www.legalbitstream.com/ for your research.

MIke

While it has been a number of years since I was an auditor for the IRS, I have always interpreted the rented room in a personal residence as a no loss situation, period. It did not matter if the room rented out was used exclusively for rental or not. I have not had this issue for seven or eight years as a practitioner, so I am open to instruction - however, I would like to see a court case or something substantive for the position being put forth that the exclusive use of the rooms would enable to be declared as a rental loss. Thanks fo the help in my understanding this issue.

Mike

E-filed my last return about 9:45PM, yesterday. At 10:30PM it was transmitted to agency. Not to received the acceptance.

I am in WA and understand it to be the 7PM time. I have a client who can't seem to get his bank info to me so he may turn into a paper return.

Oh, I almost forgot. If there is a reimbursement taking place, it would be good to ensure that there is a written reimbursement policy in place.

<<<My 2 cents.>>>

No change with that answer. Good suggestions also.

Mike

I believe, unless otherwise required, the Form 8453 will not be used for the 2008 tax season, but is still generally available for the 2007 tax season.

<<<So if these new penalties aren't changing the way you conduct your interviews, then you are indeed making a mistake.>>>

The fact that your interviews must change does not mean that all others must change. My guess would be that some may already be conducting interviews or soliciting information and documentation that will protect them.

Some of the 2007 changes are listed in the 2006 version of Publication 553 at www.irs.gov.

Mike

I am not against testing backups, however, I don't see a way to test Mozy. I am assuming if I lose my system and need to recover, their system will do that for me. Am I wrong here?

Mike

I'm glad someone else has problems like I do. I find that a nerf hammer kept by my computer provides much solice.

I would think that stopping payment would be far superior to have client A pay an es payment for client B. When push comes to shove, you client would not be able to prove his payments if there is any questions. I mean is the IRS going to believe, "well, Bill Smith made my payment so I made his. No I don't know who Bill Smith is, but my preparer told me this is the way I should do it."

<<<Try this:

http://www.mycorporation.com/comparison.html

I also have three sheets doing a comparison of entities if you want me to fax them to you.>>>

Thanks for the link. I would like your info also, if possible. You may e-mail attach it to [email protected] or fax to 509-542-9354. I appreciate your help.

Jainen,

I like your thinking on the corp filing. I realized that I could potentially still do his individual tax return, however, my experience is most people have the corp preparer do their individual return also. I had not thought about doing the corp because I stay away from what I do not know. I have chosen in the past not to do parts, corps, estates, trusts, nps and to concentrate on individual and then I only do clergy and religious workers (and some of their family members). I will have to think about this again.

Looks like I may be loosing a client. He has a notary business and is looking at incorporating or forming a LLC. I don't do corps. However, besides recommending he consult with an attorney for the legal aspects of liability protection, etc, I seem to remember seeing a chart at one time comparing various types of entities. I can't find it. Does anybody have source that I could copy or download and send to him. To be honest, I'm not sure he needs to incorporate. He is also in CA, so I believe there is a minimum annual fee of $800 or so.

Mike

I received a faxed copy of the IRS correspondence today. My client did sell a condo in '05 (the year in question). The figures on the return do not match the IRS figures and the diff. is supposed to be because of this Hart Program. They then say that the amount in questions was deducted as a contribution. The contribution was a church contribution per the return. I am trying to get original docs not to analyze this better. Client does not remember this program. we'll see. I will back with more info when I have it. Client lives in WA. Once I see what this is, I will know what way to jump.

Mike

I received the following query from a client this morning via e-mail.

"I have received documentation from the department of internal revenue servies indicating that I have been selected for examination due to involvement and participation in the HART Down Payment Assistance program. Please advise as I do not know what HART program is all about and that I have made a contribution to HART in relation to the sale of a house. I did not make any contributions to HART as far as I know."

I must admit that I have not hear of this. Can somebody clear this up for me?

Mike

Consider it done.

Remember Psalm 41:3

Mike

Hmmm. I had a similiar situation and the IRS simply sent back the money indicating that the statute was closed. I had advised him that would probably be the result, however, he wanted to make sure that the record was straight.

Mike

Thanks for the URL.

I just contacted Adobe and found out that v. 4 is not upgradeable. If I want it I have to buy the program outright.

Mike