Christian

With all of us fretting over the proper application of tax laws and splittings hairs over rule interpretations I was surprised at what i saw on 60 Minutes last night. After years of hearing efile ballyhooed by the Service touting instantaneous matching of taxpayer records with their returns when filed I find that it was as like as not a farce. The Service is paying out billions in fraudulent refunds by paying them BEFORE any record matching on a taxpayer's return is done. An individual who reportedly ripped off some millions of dollars explained how easily it can be done. You have to wonder why this guy is being interviewed by 60 Minutes instead of being in prison. In China he would have been executed. With all this crap going on is there any wonder the public has no problem with cheating if they can ?

​Well, of course, they are being sued. I can well imagine their reticence to discuss the 2012 product. If they are offering the discount now their sales likely have taken a hit since it normally applies to folks who renew early on.

Would not the capital gains be treated simply as long term gains on the sale of inherited property with any tax due being paid by the heirs ?

I usually post any questions I have here and on the official ATX board feeling that having greater input on any issue I have is not a bad thing. I invariably receive excellent opinions here but over on the other board while most folks try to help there are one or two who prove insulting. My query on Form 1041 produced one or two of these but also produced a large difference of opinion as to how the deductible items need be handled. I finally decided to pass it on to a CPA friend which is my usual modus if presented with something I normally do not handle. I may simply stop posting on the ATX board as some of them are lacking in common good manners.

It proved to be an issue with my security software. After shutting it down the return rolled over ok. I restarted my security software and then went in and made some adjustments.

Today I tried to rollover a 2012 return to file an extended return for a client and got a connection error notice. Anyone else having this problem ?

A client's father died on 4/2/13. He has just now come in wanting to file the fiduciary form (Form 1041). I rarely handle these so I thought I would be well advised to seek additional input. After looking over the info he has brought I find that the estate has no income for the period 4/2/13 - 4/2/14 but did incur a few expenses. He will close the estate within the next year and because there is no income to report I see no need to file a return. There will be a need to file one after closure as the estate will have some income to report for the period 4/2/14 until closure. I am wondering if I cannot put the few expenses paid in the estate's first year into the final filing or if I file an interim 1041 showing these costs will they then carryover to the final filing in the period 4/2/14 until closure ? Any input is appreciated.

That was my reading of it as well Jack. I was only too happy to read your comment.

In looking over the draft Form 1040 for 2014 I note that for most of my clients the simple check box for full coverage will cover most of them (whew). For the others lacking coverage one of the specified exemptions will cover them. As for the one or two getting credit assistance through the federal exchange I expect the insurance carrier will forward documents which will enable me to complete their info. Maybe next tax season will not be the nightmare I was afraid might occur.

Yup, kinda do.

Thanks to all. In adding up my thirty five years of payments and dividing by 35 I come up with a figure larger than what this part time work amounts to. Oh well, it never hurts to check these things and I still enjoy the work.

On a personal note, I retired from a regular job some six years ago. I began drawing full social security benefits at that time. My tax prep business was and is a part time endeavor going back some thirty plus years. Like everyone I continue paying social security taxes on my self employment income. I was under the impression that after three years or so I would receive an adjustment for my continuing payments to the system as my dad did when he continued working after formal retirement. To date I have received not a dime of increase after having paid in some five more years. In talking to social security I did not receive what I considered a great explanation of why my benefits have not increased. Just wondering if any of you have had this experience and what you found out about your situation.

Thanks Jack. I'll put a note in her file. It's no biggy but every little bit helps, right? This is for 2014.

She advises it will be around $100 or so.

A client called asking if a software program needed for taking a daughter's college course is deductible. Her daughter is in her junior year of a four year degree program. Why this software is not included in her college expenses is not clear to me but she advises it is needed for this course and is not provided by the school. I am wondering if this is a Schedule A deduction or can it be taken off elsewhere. This for me is one of those seldom encountered items since my clients are primarily older folks.

My client file backups have always been in the client's name.

Thanks guys. This is a 64 bit machine running win 7 pro. In view of what was said I think I'll leave well enough alone.

I notice ATX has left the 2013 hardware requirements in place for next year. I am thinking of adding 4gb of ram to my existing 4gb which will give me 8gb in total. Has anyone else found this upgrade to materially increase the speed of their machine ?

Maybe but it does not sign me in on any other site I use.

I have noticed that entering the forum I am already signed in. I always sign out on leaving. Is this a new feature ?

Egad ! I may at some point have assigned 7 year status to a structural component.

MY thoughts are never random.

NOW that's what I call a reply !

Only the IRS could construe a Dead Horse statute enacted in 1884 to pay for deceased livestock as a justification to regulate some 700,000 or so tax practitioners in the 21st century.

Good luck Rita on the huge discount olive branch.