mcb39

Umm, I got 17. Missed 8. Also erred on acknowledgement and judgement. Maybe it depends on when we went to Grammar school.

Shame on Me!!! I have always prided myself on my spelling ability. How do they say that? "Pride goes before the fall........" My score wasn't terrible, but much worse than I expected. That was a good test.

That is what I was referring to. You are right. I misspoke by calling it a credit. It IS a deduction from taxable income. I still think clients will like it as more and more are unable to itemize.

The ethics addition helps to sell the course to EAs who need it for their continuing education.

The stimulus worksheet is a bear but luckily we have software!

taxbilly

I understand about the ethics credits. However, the stimulus worksheet will only work if we KNOW how much the taxpayer received. How many do you think will bring in their stub? We will be back to checking most of them out just like last time. Also, I like the Property Tax Credit for people who do not itemize. I am sure the clients will like it and it should bring in some traffic when they start advertising the changes and some individuals won't have a clue as to how to go about claiming their credits.

:huh: Just finished with 2 days of Tax Insight 2008 Income Tax School. Picked up some interesting tidbits and some very interesting changes to the tax code. (Additions and Subtractions). They did spend 2 hours the first day on Ethics; so apparently that is an ever increasing subject of interest to the IRS. Anyway, the new season is starting and the repercussions of the stimulus payouts in 2008 should add a lot of spice to our practices. ie; the parent who didn't get to claim the child last year will get a credit for the $300 stimulus they did not receive in 2008. There are other instances of credit increases; no paybacks. So, all of those parents who hurried to file first and messed us up with amending returns; will get the deduction on this year's return. I feel the pain already.

I always order the oval e-file stickers and put one on the cover of every return that is e-filed. The clients like that touch.

If they were late yesterday, I am waaaay late, but anyway! And many more!

That goes for me too, Julie. Many of us go back a long way together and you are one of the beginners. Hope you had a wonderful day....... :read:

I have that problem. Every time a new tax season starts I'm like the aggie that got a job as an elevator operator.

He had to be retrained every time he had to change directions.

No Kidding! Another ATX preparer called me the other night with a question and I pulled a complete blank. Eventually, we did figure it out though. Very basic operation too.

Thanks, Bulldog Tom, for reminding us how important this venue is to so many of us. I am a sole practitioner without another "watercooler." This board is not just important to me but critical, I would say. I just hope we can all get along despite the election!

I echo Margaret. This board is also "critical"" to me. Pub 17 and Quickfinders and whatever knowledge I pick up at Tax Seminars are all secondary to the things I learn in this Community. I don't understand, however, how this original post ended up turning political.

I also have experienced the frothing. Have not considered the same extremes as ERC; primarily because this cat was newly adopted from the Humane Society and was traumatized enough. KC.....if you love cats (and I know that many people do not); you will put up with a lot of frustration. Our first cat was with us for 21 years and gave us so much love. The second one was with us for 15, but she was a stray so we never really knew how old she was. We finally had to have her euthanized due to kidney failure. We waited a long two years before adopting and have now had Annie for a year. Adult cats are much harder to adapt; but she needed a home and has a totally different personality than any other cat we have ever lived with. We love her anyway and she loves us.

Are you genuinely happy or is your smile your attempt to keep a positive attitude? I felt that IntelliTax price was too good to be true, watched the board for some of the reviews and was almost ready to move myself, but do to circumstances decided to stay one more year with ATX renewed to get my discount and lock in my price and now I'm glad I did. TaxWise might be an OK program but I really did not want the added stress of having to learn a new program. As it turned out my world was turned upside down last month with my dad passing away unexpectedly and besides being my dad, best friend, he was also my greatest guy Friday. He literally ran my office for me during tax season. So I really do not want to have to learn anything new this year. I'm hoping for an extremely easy year! Haha Haha!

Deb!

Deb...so sorry to hear about your Dad. Some of us can relate very well and understand. Tax Progams aside; keep your chin up.....one day at a time.

I can vouch for all of the above as regards giving a cat a pill. They are now dispensing cat meds in liquid form with droppers. Even that is a nightmare and takes two people to accomplish.....

I had the same problem and just called the IRS and they added 1120 and 1065 to my efiling status. I was able to file the rejected return four business days later.

Is that it? I ended up paper filing all of my 1065s this year because of that error. I was never able nor had the time to figure it out. Thanks!

I did not get a phone call, but I did get an email to this effect. Glad they gave us at least a little warning!

I just got the email also.; so all bases were covered. As I said, I did have one hanging out there that I had forgotten about.

Not enough information. Since WI has Income Tax and Texas does not; or course, you need to file the 1NPR. However, I have a similar client who receives Wisconsin Retirement Benefits, but is in a Nursing Home in Colorado. After all of her medical bills, etc.; she doesn't owe any tax to anyone. After filing this way for a couple of years, I advised the POA to stop withholding on her Pension. We did, however, file a return last year in order to get the stimulus. Every set of circumstances is different.

Received a call this evening telling me to recover all of my ACKs as they will no longer be available after Friday. They will then be working on the program for 2008. It really was a nice reminder as I had forgotten to retrieve a State Ack for a return that I filed on 10/15. Sure enough, it was still out there. For those of you who don't answer CID unavailable calls; heads up on this. Thank you ATX. Tomorrow, I start cleaning my office; filing, sorting and shredding. New materials are coming in and I have a disorganized mess....

I have been doing partners" returns like this for years with unreimbursed expenses on page 2 Sch E; and have never had one not pass the "smell" test; whatever that is. It is quite common for partners' to pay some out of pocket expenses and not be reimbursed by the Partnership.

Considering how our Congress spends it, EVERYONE should hate writing them a check, even if it's just a dollar.

Agree.....just filed my last one too, but she gets a refund due to massive medical bills. However, she just delivered the info at noon today. Now, am going to my son's for dinner and back to work tomorrow.

On the 'Filers Info' tab, you put in the DOD. Then, even if there is no refund, I attach a 1310. If the person signing is not the spouse, I attach a copy of the court appointment

KC....can these be e-filed? I thought not.

Well, we still do get a number of disks shipped to us, plus, depending on your choice of package, some books, etc. We need at least the original disk, and the final archive disk, plus whatever books we want.

I guess I really don't mind paying for the updates (if that is the truth) since they have become so fast and flawless. 2008 will be my first tax year with DSL instead of Dialup. How about that?

Eric: Thanks once again for all your efforts to initially set up this forum and your ongoing efforts to keep it running smoothly. Thanks to KC for all she does to moderate as well, especially with the personal pressures she is going through at present. I'm using this episode as a reminder to myself that it's time to make another contribution toward the upkeep and maintenace of the forum, which I did this morning. I urge anyone else who feels so inclined to do the same.

That was a pretty shocking experience. Thanks for the reminder to donate.

I hope that you had a wonderful day filled with all of the things that mean the most to you.

There was a an investment by an outside investor in 2006 that resulted in 3 equal partners. Also during 2006 there was a buyout of a partner in a completely separate transaction that resulted in 2 equal partners at the end of 2006 and all of 2007. No change in the EIN.

I had 3 Partnerships with absolutely no changes that kept generating that message no matter what I tried. I ended up paper filing them.

This sounds like one for Jainen. How can he just decide that he doesn't want to pay his debt? I would not involve myself in this scenario. I would refer him elsewhere.

That is how I have entered the information. However, the client has other income and expense for the llc and I was hoping I could put it all on a Sch C. I posted because I thought if I did use Sch C for all of the income, there might be a mis-match of income since there would not be a Shc E, page 2. I will need to allocate the expenses between the Sch C and the Sch E. Thank you all for your your help.

Gary

Is there any reason that you cannot put the "other" income from the LLC that is not allocated to the K1 on the Schedule C as well as the expenses? Why would there be a mismatch as the IRS knows which income is allocated to the K1, but you are on your honor for the Sch C income unless it is reported on 1099's. Also, remember that the expenses allocated to the K1 info go on the Sch E also as Unreimbursed expenses.