Gail in Virginia

I think the reason checks are cashed expeditiously is that the IRS does not do it. They contract it to a lockbox service that opens the mail, deposits the checks and sends the IRS a report. I might be wrong, but that was my understanding.

I don't see anything on my friend Google about a blanket change in the dates that estimates are due, nor do I see anything on the IRS website. I am getting my hair done tomorrow, I will ask my hairdresser.

Just wondering if the LLC involved more members, such as children of the taxpayers, and the LLC borrowed money to buy the property from the original taxpayers, then it would be acquisition debt. Of course, the taxpayers would have to pay taxes on any gain on the sale of the property. And since it would be a related party sale, they could not deduct any loss due to the reduced market values in Memphis. I am NOT recommending this - more like thinking of possibilities.

And Margaret, it doesn't have to be the end of your fax line. You can go to an e-fax type service (I use RingCentral) and even keep the same number. I am not sure how often you will need a fax line - they seem to be going the way of the dinosaur but occasionally it is helpful in communicating with IRS or filing some paperwork that is not set up for e-file.

Most of the time my clients will tell me that they have joint custody. And they usually do, in which case I know that it comes down to where the child spent the most nights for the dependency exemption. But with no clearly defined "custodial" parent, deciding who should give whom an 8332 is not always clear.

I read somewhere that the errors in these phishing emails are intentional. They are not looking for sophisticated educated people to respond because they are less likely to fall for what they are selling. Instead, they want people who read carelessly or are not very educated. The errors in the emails help them to weed out the people unlikely to fall for their scam.

I thought everyone knew that putting your password on the side of the monitor wasn't safe, you have to put it under your keyboard where it can't be seen. LOL.

Its bad enough to fill the form out online EVERY SINGLE TIME but most of the time when I get to the appointment they will ask me AGAIN if my address has changed (since I filled out the online form yesterday?) and so on. What a waste of time.

It is my understanding that paper filing is not allowed. I spoke with the Pres of a non-profit yesterday who tried to paper file and the 990 was returned to him to be e-filed. I have not done a 990 this year; I thought the only social security number required was for whoever was signing the return? Can't you change to some other officer signing and use their SSN?

Thanks for all the replies.

My credit union will cover from savings, but they won't transfer online from savings more than 3 times in 30 days. So if I have made transfers online, or they have had to cover another payment, the third time that month that this happens, they will refuse the transaction. They told me it was federal law - at least the last time I tried to make too many online transfers in one month which has admittedly been several years ago.

Yes, that was the issue. I am not sure of all the details but there was another substantial amount that was sent as part of the settlement to pay for the other party's share of the business which was not included in the corporation's books. I am not sure whether any of it should have been, but I still think the fees paid to the attorney should be on a 1099. Unless Mass. lawyers tend to be incorporated.

Sounds like the trucks some of my farmers have pulled up in. No tags, no inspection, and sometimes even no doors!

The business itself.

I have a corporate client that was involved in a lawsuit over ownership. The legal bills were substantial, and the law firm that most of the money was paid to is in Boston. When I told them they needed to do a 1099 for the legal fees, they called the law firm to get the information. The law firm said they had never gotten a 1099. In Virginia, almost all law firms are partnerships so I would think they would be used to getting 1099s from businesses. But maybe it is different in Massachusetts? Or am I missing something about 1099s? Also, when I question this for the 1099s I found out that a substantial portion of the amount they paid the law firm was part of the settlement - they had to pay the other party's legal fees. Should that be included on the 1099? Is it even deductible? Any opinions or references would be appreciated.