Lee B

On Sept. 5, 2023, the Ohio Department of Taxation is launching OH|TAX eServices, a new Individual and School District Income Tax online platform. OH|TAX eServices will offer the same features the Online Services platform offered, and much, much more. MAINTENANCE (OUTAGE) DATES:  August 21 – September 4 - Online Services

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The key question is, " Was the property actually listed, advertised and available to rent ? " If not, it was Investment Property.

Your client's bank should be able to access the transaction trace # in their online details and print that information for your clients. This convinces me to advise my clients not to mail checks or to use direct debit anymore.

Back in the spring of 2022 I had to call to Ogden UT to get a misapplied 941 credit corrected. I ended up talking to a very helpful young lady. What was amazing to me was how many different IRS programs she had to access in order to correct the misapplied credit. It took her about 25 minutes to apply the credit correctly.

The robocalls to my office landline have dropped significantly since I only answer those calls which have a clients caller ID. All of my non business calls go to my personal cell phone where I only answer if I recognize the caller ID. If not, they can leave a voice mail which the robo callers and spammers don't do. The weirdest thing is every 2 or 3 months I get a text message in chines characters?

Several years ago my wife received a call and the spoofed number was her own cell phone number For years I have used my answering machine on my office landline to screen calls. As soon as the answering machine activates the robocalls disconnect.

I have discovered this year that the IRS has different subsystems that don't always communicate with each other. In your client's situations, just because the IRS or the U S Treasury was the payee doesn't mean your client or your client's correct account was posted. You or your client will have to call the IRS. You will need the transaction trace number for the IRS to track down where the payments went.

With the IRS you can make Estimated Payments via an online account, IRS Direct Pay or EFTPS or the state equivalent, which I find to be more flexible than using direct debit in the tax return.

T D Ameritrade, Charles Schwab and Prudential have also been sued for failing to protect personal Information.

Dennis, I totally agree.

I apologize. I posted without reading all of the details. Thanks to Catherine and Patrick .

As a practical matter, I doubt that conservation easements impact any of our clients. It's one the areas that's been abused by the wealthy and their advisers. The IRS has struggled to deal with this area due to the lack of expertise, which it sounds like it has resulted in their belligerent approach to this issue. To take one difficult area of tax law and apply that to the whole agency is an exaggeration which may make you feel good but frankly I don't appreciate it.

I currently use Medlin for my smaller clients 10 or less employees. I did an extensive search for payroll software back in late 2021. At that time Patriot was struggling with handling Oregon payroll taxes according to according to one of their Tax Departemt employees that I talked to.

All of their money, lobbying influence and political contributions will protect them. There will be a negotiated settlement and the class action attorneys will get a very big payday.

The key question is, "When do you cross the line from the proper recording of client transactions to making decisions which should be made by your client?"

"Users of tax preparation websites in seven states have filed a class action lawsuit against Google, claiming it engaged in wiretapping, following a similar complaint against Meta. The complaint alleges tax prep companies like H&R Block, TaxAct and TaxSlayer sent private tax return information to Google using Google Analytics technology, which may include email addresses, data on users' income, filing status, refund amounts, buttons clicked and year of return."

Earlier you implied that the owner has been funding losses for decades. If so how would they be able to repay the $25,000?

Whether or not they are lying, a total reconstruction is almost impossible. If you are going to take on a client like this, the best you can do is nail down all the balance sheet accounts and move forward.

If it was my client, first I would nail down all the balance sheet accounts as of last year end to the best of my ability. I would use a 3115 to correct the vehicle depreciation, then remove the vehicle from the balance sheet at the original cost. Then the remaining loan balance as of last year end should be reclassified to APIC. Good Luck, you have a lot of work ahead of you.

I have never been impressed with TripAdvisor since they got caught multiple times suppressing negative reviews. I do think it sends a message about the strategic thinking of Cinven since private equity investments firms usually expect their investment to be returned in 5 to 7 years.

Yes, there seems to be an ongoing stream of Audit Firms getting fined for substandard work.

Can the client provide any financial statements or a trial balance for any of the years? What information did the client provide every year to whomever prepared the tax returns? Can the client go back to the prior tax preparer and obtain complete tax returns?

"Unlike Form 8938, the FBAR (FinCEN Form 114) is not filed with the IRS. It must be filed directly with the office of Financial Crimes Enforcement Network (FinCEN), a bureau of the Department of the Treasury, separate from the IRS.Sep 28, 2022"

II clicked on the link. It says overtime pay exceeding 40 hours in a week for a full time employee will be exempt form withholding and from Alabama Income Tax. It doesn't say overtime premium? Very strange law.