Jack from Ohio

Nope.

I have a steak dinner that says it is taxable. A "clueless" boss would not even understand "105 Plan" much less have one in place. The boss is operating on "Barbershop" tax information. Just remember, if you know (no matter how you found out) that the information on the return is inaccurate, you are open to preparer penalties.

I heard Karen Hawkins speak at 3 seminars in Chicago. "If you know, or should have known, you will be held responsible for submitting inaccurate information to the IRS." She acts like she has no one to answer to and can do pretty much anything she wants. Documentation for this kind of situation, if ever audited, falls to the taxpayer AND the preparer. She is a very frightful person that no one seems to want to rein in.

If he gets a CP2000 or other notice, guess who he is going to blame.... Dangerous game to base your recommendations on third party opinions.

Hey Eric, For the last two weeks, when I try to upload a picture, I get a message that the picture is too large. Do I have too many pictures uploaded? If so, where is the list so I can clean it up? Is it really better to link the picture from a hosting service rather than uploading it? Just need to know how to proceed. Thanks again for all you do!!

What do the recent rulings by the IRS say? Forget the opinions of non-tax companies. It is taxable to the employee. He can deduct the premiums on Schedule A. Tell his employer to get his payroll people trained and updated and make the necessary changes. IRS regs and rulings trump any "opinions" by other groups or agencies.

It is taxable. This is specifically stated in the ordinances. The employee can deduct the insurance premiums on Schedule A.

This part has been law for decades!! Seems that those unscrupulous preparers don't care. I don't think the IRS will know or be able to stop this, without having a database of every preparer's bank account numbers. Since they cannot keep e-mails, I doubt if this database exists or ever will.

I don't expect the software to do things for me that are a regular part of any input of any document or any form. Taxpayer/spouse is elementary. I don't need or want software to babysit me. I prefer the software to help with the complex and difficult issues and look for omissions or numbers in a wrong place with no correlation to other numbers or forms.

He is expecting the program to detect his number input error. PEBKAC Sorry, just gets old!!!

Agreed, but I still get irritated when people blame EVERY problem on the software. PEBKAC

ATX, nor any other software, will not pick up an "error" caused by entering improper numbers in a field or worksheet. The program does not read your mind. This was a user error not a program error.

In all the train wreck, this kind of thing was never a problem. You are missing something. Do all my suggestions, or not, it may be a computer issue.

Do you have all the latest updates for the 2012 program? Make sure all the entries are correct from the W-2 forms. I/we have not experienced any problems of this nature, even with the train wreck during 2012 season. Recheck all your inputs. If they all seem Ok, and you have all the latest updates, delete all the W-2 forms, save and close the return, then open the return again and input the W-2 information. If he is doing his own return, why would you prepare and sign one? I see lots of potential problems with that process. Also, there are many things that can add income to Line 7 other than W-2. I would say you are probably missing something in your research of that number. Jump to the input screen for line 7 and see what shows there.

I am still an RTRP. I get my CPE as a secondary benefit to the learning I get from classes, etc. I have no reason to do any more "signing up" for anything till I take and pass my E.A. exam. This is just camouflage to make it seem like, to the uninformed, low information and apathetic people of America, that the IRS is doing something.

Time is getting short!!

After his latest round of hearings with Congress, I may not even stay in the building!!! Exhibit hall for certain!! The chances of them having a question and answer session are the same as the POTUS repealing Obamacare!! Still looking for a male roommate to share expenses.

Information from more than one auditor. The IRS will not pursue any change the results in less than $100 in ADDED tax. If the changes get you a bigger refund, they will not pursue at all. Why charge my client for something that is not needed?? That is part of my definition of customer service.

Amended returns cannot be e-filed. Probably never will. Use the last amended return as original then make changes. No need to tell them it is an amend of an amend. If the brokerage statement changes do not result in a tax change of $100 or more, I would not amend.

I do not participate in LinkedIn because I have too many things to deal with now, without adding another social networking site.

This should make all our clients, small businesses and farmers happy.... June 17, 2014 Governor Signs Legislation Providing Further Tax Relief for Ohioans Ohio Governor John Kasich, in partnership with the General Assembly, is continuing the work to grow Ohio’s economy and to get our state back on track that he began when he took office three years ago. Last year, Ohio took significant steps forward with the approval of a new state budget, which implemented substantial tax law changes to deliver a $2.7 billion tax cut to individuals and businesses, over the course of three years. The changes included:  A 10 percent personal income tax cut to be phased in over the next three years. In 2013 rates were reduced 8.5 percent, and employer withholding tables were updated to reflect the lower rate.  A small business tax cut that enables owners/investors to deduct from taxable income 50 percent of the first $250,000 in net business income.  New assistance for lower-income Ohioans in the form of an Earned Income Tax Credit (EITC) equal to five percent of the amount claimed for the federal EITC. We believe those tax cuts are helping spur Ohio’s recovery and this week the governor approved House Bill 483 that includes additional tax reductions to build on that progress. These cuts, emerging from the governor’s Mid-Biennium Review, were possible because our improving economy is generating stronger than expected state revenue. Those revenues, along with greater efficiencies enacted to manage state government, provided the opportunity for more tax relief that includes:  Accelerating the Income Tax Cut: Next year’s scheduled one percent cut in income tax rates is moving up to be effective retroactive to January 1, 2014, and shortly after July 1, 2014, income tax withholding rates will be reduced. These changes will give taxpayers the full 10 percent income tax cut that was not set to begin until January 2015.  Additional Small Business Tax Cuts: For tax year 2014, the personal income tax deduction on small business income will be increased to 75 percent, freeing up additional funds for private sector job creators to further invest in growing their businesses.  New Tax Relief for Low- and Middle-Income Ohioans: Ohio is doubling the EITC from 5 to 10 percent of the federal credit. In addition, the state is increasing the personal exemption for Ohioans earning less than $40,000 a year from $1,700 to $2,200, and for those with incomes between $40,000 and $80,000 a year from $1,700 to $1,950. Although there is still more work to be done, it is clear Ohio is heading in the right direction. ODT will continue to keep you up-to-date on the additional tax changes or for a comprehensive overview of this legislation please review the governor’s fact sheet . Thank you for your interest and attention. Sincerely, Joseph W. Testa Ohio Tax Commissioner http://www.tax.ohio.gov/Portals/0/communications/news_releases/MBR%20Tax%20Alert%20Letter%20Final.pdf

You have to dispose of the property. Form 4797. This is NOT forgiven debt. That is form 1099-C. The selling price is the amount of debt forgiven. Basis is calculated as normal. Depreciation is recaptured as well. Box 4 has no relevance. There may be taxable gain by disposing of the property.

A TOUGH OLD CATTLEMAN FROM ALBERTA COUNSELED HIS GRANDDAUGHTER THAT IF SHE WANTED TO LIVE A LONG LIFE, THE SECRET WAS TO SPRINKLE A PINCH OF GUN POWDER ON HER OATMEAL EVERY MORNING. THE GRANDDAUGHTER DID THIS RELIGIOUSLY UNTIL THE AGE OF 103, WHEN SHE DIED. SHE LEFT BEHIND 14 CHILDREN, 30 GRANDCHILDREN, 45 GREAT-GRANDCHILDREN, 25 GREAT-GREAT-GRANDCHILDREN, AND A 40-FOOT HOLE WHERE THE CREMATORIUM USED TO BE!

YES!! They were scrambling to see if they had enough cash in the vault!! I made all my comments and request very loud so all the other customers heard what I was doing and why!! The looks from the people working there were "special!"

I would IMMEDIATELY remove all money and business dealings with that bank. There are REAL banks/credit unions that understand who is the customer and also understand customer service. We changed from a bank we had been with for 15 years over a check we received that bounced. Shortened story - - The person that wrote the check, brought us cash before the bank notified us. Score high integrity for that person. 2 weeks later, bank says check bounced and was processing it again. 4 weeks later, bank says all is well but only after we called. 8 weeks later, the bank hits our account for the returned check. This was 2006. The banks were both in our town. Currently we have NO money or do NO business with that bank. Note: The bank said there was nothing they could do about their processes. I told the manager that I considered her answer the best example of male bovine scat I had seen to date. Then I went to the counter and cleaned out our accounts.