Lee B

Don't you still have income Of $4,551 taxable either to the estate or to the beneficiary unless the employer issued the W 2 totally in error?

"Generative AI is supercharging financial fraud, and could ultimately make state-of-the-art fraud-prevention measures obsolete, such as voice authentication and even “liveness checks” designed to match a real-time image with the one on record. In 2022, consumers reported losing $8.8 billion to fraud, up more than 40% from 2021, the U.S. Federal Trade Commission reports. " I expect these things will happen. It could get really ugly!

FINCEN just released an updated Small Business Compliance Guide: https://www.fincen.gov/sites/default/files/shared/BOI_Small_Compliance_Guide_FINAL_Sept_508C.pdf

Not Really, they can censure, sanction, fine or suspend, that's it. Beyond that, they have to refer to the Department of Justice for prosecution.

More than likely the SSA will reject the W2 and send it back to the employer but that may not happen right away.

Wages paid in the year after death are supposed to be paid via a 1099 not a W2 so the taxes were withheld in error.

Yeah, I just updated to 117.0.5938.89

Interesting, mine is still at 116.0.5845.168 with no update available. I know they roll out updates over 3 to 5 days. I guess it's not my turn yet.

"Google urges users to install their new update as soon as possible: version 116.0.5845.187 for Mac and Linux, and 116.0.5845.187/.188 for Windows."

Wouldn't it be nice if it was that simple?

Where the heck do you keep finding these clients anyway?

I looked it up "Rockford Files"

The IRS considers Lottery and Gambling winning to be Ordinary Income so no.

When I was a controller back in the 1980s, I used get fax and airmail letters from Nigeria every month

Sounds like a Wisconsin resident to me.

"Hi there, I hope this email finds you well. I am sending this email on behave of my boss Mr. . . . who is having delays in getting his 2022 taxes returns done in the USA due to some health issues and the passing away of his CPA. He's not owing taxes, and usually apply his refund and make estimated tax payments. He already filed an extension before he took ill. If you have the capacity to take on new client, please feel free to reply back to this email or email him directly at . . . . so all tax related materials can be forwarded to you. This is a bit urgent as the tax session is coming to an end in October. Awaiting your response. Best Regard Doris " This showed up in my spam folder this morning and I found in funny

The IRS regards the changing of ownership to be a potential "red flag" issue!

"How Do I Change Ownership of Replacement Property After a 1031 Exchange? If that is your intention, it would be wise not to act straightaway. It’s generally advisable to hold onto the replacement property for several years before changing ownership. If you get rid of it quickly, the IRS may assume that you didn’t acquire it with the intention of holding." Frankly, the way these exchanges were handled raises some serious questions !

I think the way it works is the the IRS does the investigatory legwork and then they refer the case to the Department of Justice who decides whether or not to prosecute, Its just like the IRS doesn't the power to shut down fraudulent unlicensed tax preparers. Without knowing the timeline, who knows?

For me the biggest problem with Intuit and QBO Payroll is their aggressive data mining of all the payroll data and using that information to increase their income. For example if your client agrees to give their employees online access, Intuit will offer the employees advances which will be automatically deducted from the employees next paycheck minus fees and finance charges of course.

"A Lake Oswego entrepreneur is facing up to five years in prison, after pleading guilty to stiffing the federal government out of more than $24 million in taxes. Robert Kohnle was the CEO of Aliat, a company that helped other firms manage their payroll and health care benefits services. But lawyers for the U.S. Department of Justice said that in fact, Kohnle spent six years, between 2016 and 2022, keeping the payroll tax withholdings of his clients’ employees — including income, Medicare and Social Security taxes — instead of turning them over to the Internal Revenue Service. In total, Kohnle bilked the Internal Revenue Service out of $24,816,602, they said. He pleaded guilty on Friday." Awash in a sea of con artists

Almost all states require you to obtain a new drivers license soon after you change residency. "As a new resident of Virginia, you have 60 days to transfer your out-of-state driver's license to the state." I think X has a very difficult argument.

"A “Reporting Company” is a domestic or foreign corporation, limited liability company, or similar entity that was either formed or registered to do business in any state or jurisdiction by filing a document with a secretary of state or other similar office and which does not qualify for an exemption. " (There are 23 exemptions) Depending on how this is interpreted, it could include any entity with an "Assumed Business Name" registration with any state. Including Schedule C, E and F without ABNs appears somewhat unlikely. "We will see what happens"

It has nothing to do with this. It's all about our elected representatives getting re elected.