Jack from Ohio

It also includes payroll as well. Best deal going. Upgrading will save you money, and time.

When inputting numbers into tax returns, rounding is the standard. $.49 or less is ignored. $.50 or more is rounded up to the next dollar. Problem solved.

This is why I buy MAX. Unlimited personal and business returns.

The actual crime here is that the repayment is capped at $1,500. They just pocketed $2,500 in yours and my tax money! ALL LEGIT!! I am on the wrong side of the ethics fence...

That whole world disappeared in 2012. Once you click transmit, there is no stopping the e-file.

If they are claimed as dependents and have no insurance, parents pay the penalty. If they are not claimed as dependents, then each one is subject to the penalty. This is not a hard question. Now as to whether it benefits the parents to claim them, that is an entire different discussion.

You just can't accept that fact, can you.

I have never seen anything stop the efile once I click transmit. You will need to show me where ATX has published anything that says otherwise. Once it goes to their server, there is no turning back.

What would be the purpose of the warranty for 10 years then? Items are typically designed to last LONGER than the warranty period. I am not seeing any logical reason to consider the replacement of the A/C unit as repair. This is the same argument about roofs. The IRS has made it abundantly clear that roofs, HVAC, Plumbing and several other things are components. 27.5 years and if it dies after 13, claim the unused portion of depreciation as expense.

I have yet to restore any return for any reason. I don't understand all the posts about dealing with backup and restore. The backup function works just fine at the firm and in my office as well. 200+ client files at my private practice and 1,400+ client files at the firm so far. if you have made any changes to the installation such as location of files, or changed the backup files to a different locations, THIS could be an issue. Again, I do not understand the need to mess with the default installation locations of critical operating files for the program.

Only if you initially efiled it that way. No going back a second time. You may be screwed if the taxpayer is not honest. I stopped using FeeCollect for this reason. After the third one in a year, I decided that being lied to by clients (all of whom have been fired) was not worth my time. I always here "I didn't have any idea...." I politely tell them Male Bovine Scat! Hence the reason to fire them. I set up with square to take credit and debit cards this season. Not one complaint and I have not been stiffed for a single prep fee.

Most taxpayers overstate the value of their donations by factors of 5 or more. I tell clients to value them for what they would buy them for at a garage sale. Not one cent more. This is what Thrift Shop Value is based on. I also inform them of the IRS requirements that they have an itemized list of what was given, the value assigned, and how they arrived at that amount.

Like I said, 27.5 years. It is a component. Claim unused depreciation of the old unit as expense. Same as a Furnace. Replacement is not repair or maintenance.

27 1/2 years.

At the firm, we have over 200 clients with 6 figure Mary Kay income.

Those items show business intent. The safe harbor is a profit in three of 5 years. This would make it a business automatically.

Michalemars is correct. Follow the regs. It is not our place to make a judgment call based on our experiences. If he can show business intent and profit motive based on the parameters established by the IRS, he is eligible for the losses.

This act only applies to: Specifically, this Notice provides relief from the penalty under § 6651(a)(2) of the Internal Revenue Code for late payment of a balance due and the penalty under § 6654(a) for underpayment of estimated tax. This does NOT give relief from repayment of the excess advance payment of PTC.

Most states communicate reciprocally with the IRS. You can run, but you can't hide in 2015.

The 1099-C will reflect the actual amount the bank writes off as a bad debt. The amount the house sells for SHOULD lower the amount of the debt cancellation.

He may still receive a 1099-C which is the document to show how much the financial institution wrote off as bad debt. At that point, he may use Form 982 to have the amount of debt forgiven exempt from income. Use Part II, Line 4 to enter the amount of the 1099-C when it arrives. I have seen 1099-C forms issued as much as 2 years after the foreclosure. Let me make it simple. Use box 2 of 1099-A as the sale price. You are confusing words and overthinking what I said. He sold the property to the bank for the amount of the outstanding mortgage. A large taxable gain is normal. 1099-A and 1099-C are two totally separate entities that are not connected for tax prep purposes.

I am not aware of an exception for that. Parents owe the penalty.

Then file single. Same reasons. Look up "considered unmarried" in the regs.

Tell him to smile and pay the tax. I wish I had his issue...

Try having the client go to irs.gov and get a transcript. That would show the information. Signing in to the site, the taxpayer will have to go through an "identity" firewall of questions to get in, but once there, all the last 4 years transcripts can be printed or downloaded directly from the site. I am not sure what value the information would be, but some folks can't stand not knowing.