Terry D EA

Well wouldn't that be the thing. We all are trying to play it safe and get hit anyway. Kinda called shooting oneself in the foot. :rolleyes:

The number one question I would have for the son trying to claim EIC and CTC for his brother and sister would be if he meets the support test. How much was mom and dad's "little income"? By your post, it would seem the son had the higher income.

I have been using Back Blaze. Totally effortless, only 55.00 per year. Backups everytime I am using the machine like Carbonite, it backups when I fail to. Also, Back Blaze makes a ghost image of your computer that you can retreive from them if you have to do a complete re-install of the operating system.

I checked this morning and the RIA research is available and looks pretty good.

Ah, I did the same thing following my old ATX habits. However, during my time of playing with the software, I discovered that printing the distribution sets is the only way to go. You can make a default set or one specific for the return you are working in. I like the default so I don't have to think. I'll play with this a bit more and add additional information or steps here.

Anyone remember the last time the IRS servers went into melt down mode the second day of filing due to the huge amount of transmissions? I think it 2003 which is the same year there was additional confusion with a child tax credit received during the year that followed the taxpayer and not the child. Took IRS until the end of January to get it fixed. With that said, I agree and I will not be transmitting those returns until the dust settles.

Thanks for the re-affirmation. I can't tell this client anything but I have been successful with the sales manager and bookkeeper and we will be changing the way they account for inventory. A finger was pointed at me when I asked for clarification of the inventory figures for 2008 because the book inventory minus the adjustments didn't match the information on the tax return. This is the perfect example of why an engagment with specific services is more than necessary. A quick finger pointing to the paragraph in the engagement that states that the returns were prepared from the data THEY provided and that an independent verification or audit was not performed solved the problem. The client got quiet when I said they would need to amend the 08 tax return which would no doubt result in the sole S-Corp shareholder to have to pay some money back. Imagine that!

I haven't used ATX for the last two years. However, I did use ATX almost from their beginning and the print issue has always irritated me. I did the custom print routine as others have mentioned. I used to hate having to sort the return after printing because ATX prints it in thier pre-determined order. This is not a push for TaxWorksa, but, they have a feature called distribution sets that you can create a default set and the order of printing is fine. It is nice to grab the return from the printer and not have to sort it.

While sitting in a year end review to go over the year end adjustments for a manufacturing client, a large inventory adjustment (60K)was made at the close of the year. Client stated their physical count only showed 6K in inventory. After several discussions regarding this adjustment, the client revealed they receive raw materials for production, receive the invoice and have not paid the invoice and therefore they do not include this material in inventory. Their take is they don't own it because they haven't paid for it. I personally feel this should be counted in the inventory simply because some type of bill of sale exists which indicates title to the materials has changed hands. The bill for the materials has been recorded in the payables as well. My understanding is either FOB shipping point or destination point is the point where ownership of the merchandise is determined for inventory purposes. Any suggestions are appreciated

Well that worked!! Hit the f5 key and there was the new picture. Now that I see it, I think the old one was better. I'll put on the one with my wife, she makes me look better :D

Well, I don't know what to do here. I changed the picture and the avatar under my profile but the changes don't appear on the board. I'll quite trying so as to not tick off those who don't like this stuff. I guess the groucy old mechanic will have to stay.

Still trying to change the picture. Technologically challenged here. :scratch_head:

Just checking to see if the picture changed. Well, guess not. Back to the drawing board. How about this one from Uncle Sam?

I think you got it!! Don't be alarmed at the profile as my wife and I are screwing around with it. My picture that is

That would be my guess as well. I am going to check into the planner. I think it will be more important than ever for folks to have a five year forecast.

Only 100 posts to go and I will be an ATX alcoholic and will add one more dot, I mean atxaholic anonymous I think. I will never catch the Grand POO BAH!!! Good to see you here KC.

Welcome back and I am sure we will all be leaning on each other for one thing or another. Even if it is to vent, rant or just escape all the tension for a while it is nice to know we have a place of commonality (is that really a word)?

Yes they can. However, you need to register with the SS administration for them to accept the filing. I can't remember the process as it has been a couple of years since my payroll clients started doing things on their own. Hopefully someone else will chime in here and give you that information.

JB, The link below is a free online training module for due dilligence for EITC. This training will tell you how to handle a situation such as yours. You have to ask the client additional questions, document what you asked and what information you received from the client to verify that what he says is true to the best of your knowledge. In your situation, the W-2 forms presented plus a document showing the additional questions regarding income that you asked, with a client signature that acknowledging his source of income. Now if the client is hiding a W-2 form, then it is not on you and your documentation should be enough to protect you. Chances are, a client hiding income will show up when the IRS does income matching and should never affect you. But, in my humble opinion, CYA at all times. http://www.eitc.irs.gov/training/welcome/

I have a two page (front & back) client write-up form that I have used ever since this due dilligence thing came about in 1997. The form contains client demographic information,SS#, filing status; etc. On the back are all of the EITC questions including a jurat statement for the client to sign. I then use the 8867, print and keep it in the file as well. May seem like a little additional work or duplication but, when a new client comes in, the receptionist fills the form out which gives them a little start before they see me and gives me times to clean up my desk of any other sensitive client information before the next client comes in my office plus affords me two different forms of due dilligence. JMHO

I have viewed some of the videos and used TRX last year and will be using it this year. Other than some missing features (maybe insignificant maybe not), the program is the same and works the same. Hope that helps.

The signature line on the 1120 form has the same statement. Many people sign tax returns they know full well are not accurate. Most of the time the inaccuracy comes from the client's books. Again, many folks know what is going on in their companies and are not clueless regarding their tax position. The officer who signs the return, just as the individual, is responsible for every line and figure on that return. If your client is not properly reporting payroll withholdings, then it is on him completely. Your eithical responsibility in this situation is to walk away. By your statement you have knowledge of what he is doing which can come back to you. Part of the jurat statement includes the declaration of the preparer that you prepared the return based on the knowledge you have as provided by the tax payer. Be careful with this and personally I would tell this guy to take a hike. I pulled an engagement last summer because of a client willfully mis-classifying employees as sub contractors. So, simply put, yes this guy can perjure himself and sign the return. When he gets caught, he will get a triple whammy, one for the C-Corp and one for falsifying his individual return and again for the incorrect payroll returns. I agree with JB that it sounds bad, but it is bad.

Oaky after watching some of the training video, I realize that the buttons you mention indicate which version of TaxWorks you have. TRX does not display what version we have. I watched the video for the Tax Planner and that is not available to TRX users unless you purchase it. Obviously not part of the 299.00 plan.

I agree with Mike that TRX is a lighter version of TaxWorks. I don't have those buttons at the top of the general screen either. To the left are XPert, Express, Type & Used. I used TRX for the first time last year and always used the Xpert tab. I guess the buttons you mention might be used to choose the type of return you are completing or maybe the form used. I have always just used the 1040 for all returns and adjust the pricing accordingly. A one size fits all attitude. Overall, the program is pretty good. The FAM does have quirks.

I would have laughed too. On the other hand, it takes alot to be able to put on that statue suit and stand in the cold all for minimum wage. I got a card in the mail giving me $50.00 cash with a paid prep fee from Liberty. Luckier folks may get $100.00. Scratch off gimmic gets them in and let the fleecing begin.