Medlin Software, Dennis

We keep a 40 year family number via a VOIP service. It forwards to a cell number. A few $ a month. 

Understood.  For breakage or failure, another physical phone on hand is nearly a must.  One flaw with dual sim is one is usually an esim, which requires a little more (not much though) to move it to a different phone. I keep (I think) a Pixel 5 or 6 around just in case.  I can use it for one line pretty easily.  It is what we used for travel (to leave in the RV to keep the RV router connected) before we got starlink.

I am pondering getting the i14 for the e sat function.  We have a handheld sat device (text and e messages), but not having to drag it around when we are out would be nice.  Would likely not trade in the i12 and keep it for the backup.

Uncommon sense prevails?

18 minutes ago, cbslee said:

News reports are saying this amendment did not get in the final bill.

Proof again of guaranteed lifetime employment in any accounting or tax field for anyone so inclined.  Similar to the wayfair ruling, as it is a game changer.

I read it as budgeting law.  A way to show something is getting paid for.  Like how the final Q of ERC was clawed back, after the fact, to pay for other grants, some of which were to private firms.

I made the leap a couple of years ago... to an iphone. Apple has enough pull to stop carriers from locking functionality, like allowing dual sims.  it is much easier carrying one device, with two major carrier lines, with auto switching to the strongest signal for actual connection.  Now that we have starlink too, I don't carry a second phone when traveling (to leave connection in the RV to monitor dogs and temp while we visit something).

When getting an iphone from a carrier, it gets unlocked within a few months.  If bought directly from apple, it is unlocked right away. There are android phones which allow dual sim, but US carriers lock down the phones enough to make it nearly impossible, unless you buy a grey market phone from out of the US.  Dual sim is a much more used function outside of the US, where folks get data sims separate from their phone sim.

I use remote access software so I can be at my computer from any device while my computer remains reasonably safe. Freedom through tech. Computer is not water resistant so phone connection makes it possible to work from hot tub. In my experience, the common flaw is not being prepared and practiced on managing loss of hardware issues (no backup and recover plan in use and tested).

I just got a complaint that we are masking SSN on the employee W2 forms... a financial service provider!

I also got a complaint that I sent back an order, because the charge card was not a valid number.  The complaint was I violated PCI.  PCI only applies to valid cards and their data, and when I don't send the invalid number, inevitably I have to anyway, as the person says they entered it correctly and my system is the problem.

Tech has certainly changed things.  No more Abagnale skills are needed for check fraud, anyone you ever give a check to has all they need to access your account, such as printing their own checks.  Actually had this discussion yesterday, as someone was trying to convince me check by phone was safer than a charge card.

I think I saw a headline where there is talk of an amendment to raise the reporting limit to 10k, IIRC, it was to be stuffed into the budget bill.

6 hours ago, mcbreck said:

I'd like to be judgemental on people not doing things correctly with funding their trusts but our checking account and savings account are still in our joint names. When Covid hit, it was a pain to get into the bank so we've never made the switch. My wife is off next week, that might be our goal!

From my perspective, my daily checking and savings do not need to be in the trust, since it is a relatively small amount (not even a month's expenses).  The accounts will automatically transfer to the person who will be managing our estate, enough to keep things going for a couple of weeks in case other access gets held up.  Same for a life policy, it is a small one, and will go directly to two desired people, outside of anything else.  Our main cash holding accounts are in the trust, as is our home.  We monitor to make sure anything not in the trust will be probate proof (small estate exception).

A trust is not an end all/catch all, it is part of an overall plan (to me).

Watch/ask for any additional costs, such as bank or charge card fees between time of purchase and time of payment.  Make sure the 1099 is accurate, and shows the amount actually paid out.  IOW, watch for the broker fees.  Candidly I bought as many tix as I could for a certain performer's LV shows.  Sold all but 2 right away, at a multiple profit (which more than paid for our personal tix, flights, and hotel), but lower than what most were asking.  Those we held for personal use, we let go right after the "cancellation/postponement".  The entire process turned us off so much, I did not try the same for another recent performer whose online sales process failed, even though it absolutely would have been profitable, and we have a few family members who would have wanted to go...

Team tix may be slightly different as many/most will have a controlled resale portal which may have been used.

Caught my eye.  Assuming no more delays, I will soon be getting paid for selling tickets for a certain performer who is a year late in completing their residency in LV.  IIRC, it has always been taxable income (if a profit is made).  The lower 1099 threshold will make it profitable to the IRS since many/most? individual's sales were unlikely to have been reported.

Us boomers have not done a great job of raising those who follow.  Also, we are just getting farther and farther from the greatest generation...  There is hope, like always, at least if we try to make a difference in our own circles and trust that those folks will build their own positive circle.  Politics aside, folks like Mike Rowe, and creating more trades people, and showing the pride in being in the trades, may turn things around.  I am a product of shop classes in MIDDLE school, and actual job training in high school.  I was a paid mechanic at age 14, and GED'd out of HS to work full time at 16. I eventually taught myself computer programming so I did not have to rely on what I could produce, every hour, spinning wrenches, or how/if I could shortcut book time.  (It was great when I was contracted for a specific race team though, since it was not hourly rate.)

If we can make trades strong and proud again, the the white collar jobs will follow.  Not everyone can work at home in their PJ's.

I believe it.  They are backlogged, period.  It was not always great pre pandemic, but pandemic will take years to get past.  Personally "waiting" on a deceased filer's 2020 return to be processed...

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So many entities struggle to get caught up, and are still falling behind.  Even if there were enough skilled workers who returned, there is not yet enough (maybe not for a long time) ready to step in to replace those who moved on, or to actually add to the number of folks processing/working.

Receiving a non needed 1099 is not a new issue.  Been happening for decades.  The issue remains being prepared to show why it was not taxable, or where the taxable amount was reported.  Sounds like the k version of the form may be something the IRS plans on reconciling?

These things are a reason why I have pondered (here I believe too) why more do not ask things such as what OS is being used, what security measures are in place, etc., of those I need to trust my data to.

I absolutely have customers, who prepare payroll for others, who are most definitely not keeping their OS/system up to date.  Sometimes, those customers even complain that I warn about using an outdated OS.  Or, like one a few minutes ago, they had a computer issue, no backups, payroll due out today, and no options other than to rebuild all data from scratch.

Final 15T was posted last night.

https://www.irs.gov/pub/irs-pdf/p15t.pdf

I recently handled (2 years of time) two intestate estates.  neither required estate tax returns.

If, down the road, I get a nasty gram, I will add to this topic.

Pub 15T (2023 draft) has been updated with what appears to be the actual 2023 calculations.

https://www.irs.gov/pub/irs-dft/p15t--dft.pdf

The usual pattern is to post a draft with changes other than the calcs, then update the calcs, then the final. IOW, there is a 99.99% chance the calcs are good.

I am not setting things up for myself, so I cannot reply on myself to unravel what I setup.  I need to leave my heirs in the hands of an expert, with E&O coverage, training, etc.  When one gets to a point where there is something to manage outside of intestate, one should likely pay an expert.

For me, just completed.  Local lawyer, established, but younger than me.  Growing firm, not stagnant.  Dollar amounts of estate are immaterial. Selected a firm with a flat rate, although we contracted for an additional amount for a custom and separate item as well.  Some firms have subscription models, a certain amount to setup, then an annual fee for maintenance/review/consultations/etc.

35 minutes ago, Terry D EA said:

copies to his attorney

My personal position would be I am not beholden to anyone other than my client, or a court I am subject to.  Meaning, I would provide required and allowed things to my client, or to a court, and not to any third party, not even my client's attorney.  What the client does with the information is up to them, and not "on" me.

I actually get this all the time, when someone asks how to provide a pay stub to a lender.  It is up to the employee to handle, no employer should be providing documents other than to the tax agencies, a court, or when required, to the employee.

Thank you for the cite. In the OP, an issue with software availability was mentioned. If this covered a time within the retention period, the lack of ability to produce the recorder would require proactive notification to the IRS. Their rules for e records are draconian and not something most would want to be subject to. 

Is there a reason/rule which you are using to keep data from 7 years ago?  I get it, tax data is different than what I deal with daily, but my philosophy is to not keep data longer than required since it cannot be used against you...  Where I am going with the question is to try to separate client "want" from professional "required" to.

I just find it odd when someone says I have my returns from 10 or 20 years ago, or all I have ever filed.

My take on the OP is someone is fishing, maybe for helpful testimony in this case, but fishing is still fishing.  I would make no response other than under the advice of my own representation.

The first round had zero requirement to show need.  IIRC, the qualifier (which were stepped up for the later rounds) for the first round was something along the lines of "may" have losses. Every business should have applied for round 1 as any business "may" have had losses.  For corps, it could conceivably be a dereliction of duty to the corp not to have applied.  Since the funds were not fully awarded (again, IIRC), it is tough to show anyone who received funds kept others from receiving funds.  Of course, the round 1 process was possibly tilted by the processing entities, but the later rounds were likely handled better, so those who really had need could have and likely been funded.  The complaint would be if it could be showed the processing entities did play favorites in round 1, and a business could have met the "may" requirement of round 1, but not the revised requirements of later rounds.

The above is just dollars and rules, just as tax processing is all about paying the required amount, but not one penny more.

Morally, the decision, that is an entirely different process.  For non corps, easy, decide and move on.  For a corp, if all directors, officers, etc. can get a waiver of fiduciary duty, then they could make a moral decision, otherwise, they likely were obligated to apply, and if they failed, could be personally liable.

The 22 final K1/2/3 forms were posted overnight.  No final instructions were posted yet.