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lydia33

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Posts posted by lydia33

  1. I called him back and asked him why he was not the first mortgage. The person he sold it to went to the bank to borrow ALL the money owed to my client to purchase the rental property. They would not give him a 100% loan, so my client took a note for the balance as the second mortgage. If he does not get any of the money from the court house sale does he have a bad debt on the amount owed or do we just stop on the installment sale?

  2. Taxpayer sells rental property on installment sale in 06. The person that bought the property went to bank and took out a mortgage on it. They have defaulted on the loan and now the property is selling at the court house. My client says that the installment loan is considered a second mortgage and he will not get any of the money unless it brings more than what is owed to the bank. This is his question.....Will he have a nonbusiness bad debt? I told him he has only paid taxes on the part that he has collected over the last two years. HELP!

  3. I think I heard they were getting out of tax refund loans. I use Santa Barbra Bank & Trust and got my letter the other day that I am accepted for next year. They are a good bank and I like working with them. But I think I only did about 7 transactions in total last year.

    Tom

    Lodi, CA

    Is the company that you use directly linked to the atx software?

  4. I asked my boys before installing it, both of them said that it had no problems, and to go ahead, run it. But to turn off every thing else first, including anti-virus. It actually improves some things, they tell me. Have not had time to actually test it, since I'm living in the hospital now. But the little time I've been on, no problems at all.

    Hope your husband is better from the surgery. Our prayers are with you both.

  5. I have a client that filed a paper return on or about April 11th. They owed a small dollar amount and sent a check for the payment. The last two numbers of thier ss are 00. I know that it says that the return has to be processed first and to give it about six weeks. The check was cashed by the way so we know that they recieved the return. They are due a rebate for $600. When I go to the IRS "where's my rebate" , it says it has no information on this taxpayer. Do we have a number that we can call?

  6. I am about ready to add a message to my answering machine and quit answering the phone.......If you have a question about your rebate please go to the internet web page irs.gov. I know when I see caller id that they are my tax clients not my bookkeeping clients and that is what they want. I am going to try that next week. I'll tell you guys if it helped. Hope all are doing okay after tax season. Going to the beach again in 2 weeks with children and grandchildren for a week.

  7. I am so feed up with the questions on "Why have I not gotten my stimulus rebate?".............CAN I SAY ONE MORE TIME>>>>>>>>>>>>>>>> www.irs.gov......................DANG DANG DANG>>>>>>>CURSE CURSE>>>>>>.........

    Are all of you feed up with this, too? Are is it just my tax clients? Everyday a few will call and say my friend got theirs where is mine.......... Sorry just had to vent. I know you all understand and by the way WHERE IS MY STIMULUS REBATE???????????????????????????? :spaz:

  8. Wow is me! I am about to go crazy when all my clients call and say things like......I got my rebate back today but the little lady did not get hers. I tell them that all I know is what was on the IRS web site. Well Jane at the bank said that her and her husband got their's this week. Cousin Billy Bob said he did not get his this week and his SS number is 00. (Billy Bob did not get direct deposit) I explained it best I could during tax season......Good mind to put that message I talked about the other day on my answering machine. "If you are calling about that DARN tax stimulus payment please refer to the IRS.gov web site for any information."

  9. I am about to go crazy after being back in the office from tax season with calls about that Stimulus Payment, thanks to the news this morning. I no longer than have hung up from one client that somebody else is calling. Most are the ones that I did early in the tax season. THANK YOU CONGRESS! I am going to put a message on my answering machine that says "If you are calling about the @#@@ Stimulus Payment please go to irs.gov." No not really I would not do that, but I sure would like to. By the way the beach was fabulous. Did not get to finish my book......thanks to a talkative friend that did not understanding........I am reading........Hope everyone of you guys have survived.

  10. This is the very reason I do not work on the 15th. I ask all my clients to pick up their stuff by about 4 days before the 15th. All extension have to be done by the 10th. Had one friend that I did file an extension for him today but no other exceptions. There is no need of me having a heart attack over someone else's procrastination. I am doing my bookwork for payroll deposits and sales tax returns but not dealing with PEOPLE! Beach next week if that light at the end of the tunnel is not a damn train. Love all my ATX Family on the unoffical site!

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