Lee B

I have been seeing articles on different tech sites for at least 6 months that hackers have become very adept at intercepting 2FA codes & passwords. So much so that the tech industry is now planning to abandon 2FA & MFA.

I have been an accountant for 45 years and I have never seen this happen and if I was involved to the point where I had some input I wouldn't let it happen. This situation is such a tangled mess I would walk away.

Passive Income or full disposition of the related property. Also passive losses don't vanish upon death.

Drake offers it, but I opt out, since I am a one person office.

I make a donation to OPB every year and I usually choose to receive a CD which is usually an expanded version of a program previously broadcast on PBS. I have noticed that the CD usually has a value of $19.95 placed on it. What if instead of mailing me a CD, they emailed me a link to what was previously sent out on a CD. Does that still have a value of $ 19.95?

The additional information you provided confirms that this is an expense.

This really falls in a murky gray area. It doesn't meet the requirements to be called"Qualified Improvement Property." I would argue it's a repair and expense it. 1. It does not prolong the property's life, a fully depreciated building. 2. It doesn't really add value to a fully depreciated building, no one evaluates water shutoff valves, they either work or they don't work. 3. All it really does is keep the property in good operating condition. Therefore it's an expense. Sometimes we get hung up on the details when we need take a step back and look at the bigger picture.

"As a reminder, once you become an Authorized IRS e-file Provider and receive your Electronic Filling Identification Number (EFIN), you must abide by the policies and procedures in Publication 3112, IRS e-file Application and Participation, and Publication 1345, Handbook for Authorized IRS e-file Providers of Individual Income Tax Returns. Providers must protect their EFINs and passwords from unauthorized use and never share them. This includes accepting payment for the use of an EFIN (e.g. renting/ leasing/purchasing) and/or transferring EFINs to another entity when transferring the business by sale, gift or other disposition. In addition, if you resell software you cannot include the EFIN. An Electronic Return Originator (ERO) must originate the electronic submission of only returns that the ERO either prepared or collected from a taxpayer."

I would only consider a shred on site service or a carry in site where I could observe the shredding. Currently I am on my third office shredder. Once I upgraded to a heavy duty 20 page shredder, it's lasted for years now.

The 3 Million unprocessed business returns included 2 Million unprocessed Form 941 & Form 941 X returns. I have a client with an unresolved overpayment on their 2020 4th quarter 941. I have been waiting to see if the IRS will refund the overpayment, no communication yet. I have wondering how much longer I should wait before I file a 941 X, even though it would probably take a long for my client to get their refund.

As of last week, the unprocessed personal tax returns included 2.3 Million Form 1040 X amended returns.

Just finished preparing 102 Form 1095 Cs and mailing them off to the IRS. Definitely my most "pain in the butt" task of all year!

In my community, the pipe up to the meter plus the meter belongs to the utility.

I am the opposite I am accepting business clients and not taking personal tax return clients

Abby & Catherine, I don't use or have any clients that use QBO. Why do you dislike it so much? I know another accountant in town that uses QBO for all his record keeping.

Gas Lines, Water Lines & Kitchen Sink - Leasehold Improvements Stove & Refrigerator - Furniture & Equipment

There are so many loose ends and unanswered questions that all you can do at this point is gather information. When you have this many unknowns, It's too early to give any concrete advice. If it was my client, I would advise them to get an attorney involved now.

Yes, but you can have a sizable IRA with required RMDs from which you are making QCDs and at the same time be working and maxing out SIMPLE or 401k contributions.

Pub 3112

Interesting since this only applies to IRA Contributions. If you are still working and participating in a SIMPLE Plan or 401 k, maxing out the annual contribution limit, there is no restriction or limitation. Not a very equitable application of tax law.

And now the most of the Fresno Office has closed so the mail will be forwarded.

Congratulations , Terry I have been an EA since 1992, passed when it was a 2 day paper exam. I have been an NAEA member 3 different times, however there isn't a local chapter, so no local classes. The cost versus the benefits never quite worked for me. Oregon requires me to get 30 Hrs of CPE, which I get from a combination of The Tax Book(self study), and online classes from OSCPA, IRS and the CPAacademy.

My son in law is a Mechanical Engineer who works for Freightliner. Self Driving Trucks are rapidly nearing the point where we will seeing them on freeways.

First, in my state, where all preparers are licensed, the active number of preparers has declined by over 10 % in the last decade. I keep reading where we are going to be replaced by bots? I recently read several articles where forward thinking CPA Firms are creating "Virtual Reality Offices" where their clients will be able enter and meet with their CPA in "Virtual Reality." I guess websites are now "so yesterday."

According to the Taxpayer Advocate the latest numbers are: 1. 8.6 Million unprocessed personal tax returns 2. 3 Million unprocessed business tax returns 3. 5 Million unanswered pieces of taxpayer correspondence One of my family members filed an amendment of their 2018 personal tax return back in the summer of 2020. They call the IRS and check every month. To date their amended return has been logged as "received" however as yet no one has been "assigned" to work on their return.