Max W

Fore EA's & CPA's - cpedepot.com It is $149 for one year, unlimited credits. If you time it properly you can use it for two seasons. For ex - getting it now would allow you to do the 2012 requirements and before the subscription expires next year, you could do 2013.

This is the way the IRS puts its burden of doing their job onto the tax preparer. We are essentially auditing the income and expenses of the client and being held responsible if something does not turn out correctly. Small wonder that there are preparers who would shy away from doing these returns. They put a number of subjective elements into the presentation - 'Apply a common sense standard to the information provided by your client - Evaluate whether the information is complete and gather any missing facts - Determine if the information is consistent; recognize contradictory statements and statements you know not to be true These are the kinds of instructions that are int the IRS audit guidelines. The IRS should not be allowed to put such a heavy onus on the preparer and a tax preparer protest is in order. If they succeed in this, what comes next? What new area will they impose on us?

Water wells have a 15 year MACRS depreciation.

Big Charts only goes back about *12 years, so it is of no help if the transactions was prior to that. Companies that have gone out of business, have been merged, or delisted from the exchanges will not be found either. This includes companies reorganized after a Chapter 9 bankruptcy; ie General Motors. You will not find any quotes for GM prior to Nov 2010. *checked GE and could only find quotes from 2000 on.

There used to be a publication of historic stock prices going back 60 years that was available in the reference section at any good public library. You might try calling around and see if a library has it.

Yes, either a POA 2848 or an 8821.

Try this web site - proz.com you can get several terms translated without being a member

Is there another way to enter S-corp Dividends on the K-1 other than overriding the Input screen? The screen does say that you can override. Just wondering if anyone has another method.

I think that there is a trap here. The tax appraisal may or may not reflect the FMV. Every county has its own way of appraising and it may be dollar for dollar or it may be 50% or any other percentage that the assessor uses. Since the house was torn down, I don't see that it had any value. "Livable" is subjective and I have been in some lived-in places that most persons would not want to live in. So, the cleanest approach to this is that the land is $250K plus the $20K demolition, or $270K. The basis of the house is $400K. So, right now there is a $20K loss, but in a year or two that may turn into gain, if it is in the right area.

How do you know that it is not a dummy or phantom url put in place for security reasons? I have yet to encounter any differences between what I have accessed on e-services and what what was transmitted to us by either PPL or ACS. So, I that weakens the argument of 2 databases. (discounting the old system).

NO. I tried the same thing and the lines jumped. Sometimes these things can be remedied by using a different browser, but I didn't try that. What agents are you talking about? Revenue agents are examiners (auditors). Furthermore, I am not talking about the website, but e-services> Yes, it is accessed through the web page, but it is a different module, not a different system. When I have had problems with e-services, subsequent phone calls to PPL, ACS, TAO, Settlement Officers, etc, will usually confirm that the system is or was down. The problem with the IRS system is not the software, but outdated hardware for which only congress has the power to authorize new purchases. BTW, there is a second system. It is the old system which was supposed to be phased out a number of years ago. The old system runs on COBOL, not on a modern platform. The new system was to extract the data from the old one, but there was a huge problem, nobody had the source code for the old system. So, the IRS was running with 2 systems and may still be. I will lay this on on bureaucratic inefficiency, where persons who might have had access to the code were retired, transferred, laid off, died or whatever and there was not continuity between with what they did and the person(s) succeeding them.

It's Broke! I use e-services and have phone calls to the IRS on a daily basis. Their computer system crashes frequently, resulting in lost time and frustrated taxpayers and EAs. Your typed lines jumped up one line and overprinted the text line. Right?

A lot of these fraudulent returns come from prisons. Well, guess what!. Belle Glades, FL is home to a correctional facility. Seems to me that the IRS could flag all the prison addresses and hold those returns until verified. After all, those folks aren't going anywhere in a hurry.

If it could be handled by software, the IRS would most likely have done it by now. But the problem is the IRS does not have the matching information until July or August., so even if they were to flag the multiple addresses, they would have no way of knowing if the W-2's submitted with the tax returns were legitimate or not until the matching information from the employer's W-2's comes in.

My greatest concern would be with the state. Some states require an LLC compliance form or return to be filed each year. It may be that the LLC is in suspension, thus voiding the protection that they thought they had. Usually, you can check on line with the state Secretary of State to see what the status is.

The day after a weekend is always bad. Late afternoon, especially on the west coast, is best. If the recording says that the wait time is more than 15 minutes, call back later as 'more than 15 minutes' can run into an hour.

If it were ligitimate, it would have said "abate" the penalty and most likely some interest as well.

I am not prone to correcting misspelling or grammar, although I have had lots of practice doing so. We raised three kids and one had a heck of a time in high school with spelling and grammar. I finally got him straightened out. He went on to college and later a masters. In the early 60's, I proofread for various publications. Since then, there is rarely a book that I have read that does not have at least one misspelling.

There here? How about they're (contraction for They are).

Is there any problem with using form 982 to discharge principle residence debt? Going back to the attorney or the mortgage company or writing letters to the IRS will be a waste of time. The $18K could have been a write down that the client wasn't aware of, or doesn't remember. Besides, he only 'thinks' that it was paid off. Does he have the records to prove it.