redux
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Posts posted by redux
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Your comments have increased my interest in TaxSlayer Pro. It has also received some very favorable commens over on the TaxBook board. The price seems reasonable, and you make a strong case for the company - especially the fact that it is run by tax pros. I'm going to request their demo and try it out on a few extension returns. Any suggestions or shortcuts on how to get up & running in the minimum of time?
John, if you have DSL or better, you can download their demo.
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Okay, if I screwed up, at least its my own return. BUT; was on the phone with the IRS and they can't find my extension. Called my bank yesterday and there wasn't even an attempt at a debit, but said to debit, I need to use a different number than for a direct deposit; or that it is different for checking than for savings. I've never had a problem with the 'account number' on a direct deposit from the IRS; I just mark the checking vs savings box. All of the accounts are my SSN with different extensions.
Now the IRS says to call back later because part of their system is down. AAAARRRGGGGGHHH!!!!
Does anyone have any experience with this kind of stuff. Maybe I should just finish up the damn return and file it ASAP.
First of all, it's nice that your bank is open and accepts calls on Sunday. I have heard on another forum that the IRS is having some problems locating extensions, so yours may not be the only one missing.
As for the bank numbers, I think perhaps the bank was telling you that while their "routing" number may be the same at each branch, your "savings" account number will be different from your "checking" account number.
On the 1040EF you need to show the routing number AND the account number as well as check the box as to the type of account it is. If that's what you did, then the problem is that they seem to have lost your extension with the direct debit information on it.
If you efiled it, did you get an acknowledgment? If so that's your proof of having timely filed and your proof to eliminate any penalties and interest. You could create another 4868 and paper file it along with proof of the first and timely filed 4868 and you should probably attach a check as well.
Good luck!
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This is the first time I've done efiled extensions, and because I am REALLY lazy, I did direct debit for my own. Now I'm waiting for the IRS to snag my money, which I authorized them to do on the 16th. Of course I woke up the morning of the 16th and remembered I had forgotten to move the $ into checking the night before and rushed upstairs to do it. I don't have any indication the IRS tried to snag the money earlier than that (my bank would have taken it from savings and charged a fee), and so I am still waiting. Has anyone had experience with direct debit, and is it just taking them awhile to snag it, or could SOMETHING HAVE GONE WRONG....there is my worry mode being activated. It was a big amt due, so I really really really don't want penalties when they finally figure out I didn't pay or whatever....?
When they use the correct bank numbers, they are VERY prompt about making the debit in the early morning hours of the date your suggested.
I would guess you'll get a paper notice that there were insufficient funds to cover the debit. I would also guess that if you do get a notice, they will give you multiple options as to how you want to proceed. If there were insufficient funds to cover the debit, then it is YOUR fault (in their minds) and penalties and interest may apply. It's their move, wait for them to make it.
Meanwhile.....
Who knows what lurks in the minds of the IRS? I recently had a client call to say he received a letter from the IRS stating that the direct debit didn't go through because we gave them the wrong bank numbers. Keeping in mind that he also owed the state and that the state had no problem with their debit. (the bank numbers flow from the Fed info to the state info - so they are the same numbers).
Of all the options they gave him, I suggested he send a check and to call the number they gave him to tell them NOT to retry the debit because he would send a check. He did all that!. Several days later he was at his bank and discovered that the IRS tried again (this time THEY input the correct numbers) and the debit went through. So now, he has made his first two estimated payments earlier than he intended.
This sort of thing doesn't seem to happen often and in my client's case, he could afford it. But I can certainly envision this sort of IRS error creating a real hardship on some people. Of course, he didn't have to send a check. One option they gave him was for him to request they try the debit again. But they compounded the problem, first, by apparently attempting a debit using the wrong numbers, then even AFTER he called to tell them he was sending a check, they tried again with the correct bank info and the debit went through.
So, the IRS would like to make all transactions electronically, and that probably is a good thing. But they should assure that it is going to be error free on their side of the equation.
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Contractor gives sub contractor 1099-Misc. Sends Form 1096 and 1099 to IRS. IRS sends contractor letter that sub contractors social security number is no good. Contractor cannot locate sub contractor and did not get his SSN in writting. What does contractor do now.
Thanks for any help,
Tom
Hi Tom:
Well, any one of a number of things might have occurred here. All the way from an honest mistake by the contractor when he recorded the sub's number originally to intentional fraud on the part of the sub. Probably no need to go into the fact that your client should have requested to see the SS card of the sub (no need to mention but I guess I did huh?)
As far as what to do now, you have not mentioned the availability of the sub, is (s)he still in town? Does your client know where the sub lives, jobs he might be working on? The only resolution, as I see it, is to physically locate the sub and resolve it that way. Beyond that, the client has learned an expensive lesson in that he will likely have to amend his return and claim the amount on the 1099-MISC as income.
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It also concerns me that with so many on this board talking about giving up ATX, what good will this forum be as regards ATX?
I understand your concern. If the majority of people on this forum are using any one of a number of "other" programs, the "program" help would be affected. While the program help would be affected, the IRC technical help is still available since it is not affected by what software you may be using.
Moreover, the camaraderie that we have would still be in effect and available. Perhaps we could get erc to change the name of this forum to XATXers.
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This is something I've never heard talked about and never ran into it before. A client called me tonight to tell me he's selling his gas guzzling car for something that uses less gas. He asked about the money he makes from the sale of the first car, is it taxable? I said yes, because it's income and wouldn't see any reason why it shouldn't be. Then he asked if he traded it in at a dealership, rather than selling it himself, if he would have to claim that as income also, my answer was, I wouldn't see why not, even though he's not getting cash in his pocket, it would still be income.
Am I correct?
Daisy
I guess I'm not understanding your question. Is the vehicle used in a business and has it been depreciated? Suppose it is a personal vehicle, and he paid $30,000 for it. If he sells it for $20,000, he has neither a gain nor can he claim a loss. If he sells it for $40,000 then he has taxable income.
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It's very easy for me to organize things any way you guys like.. the hard part is coming to a consensus.
So you guys discuss it, and then we can put up a poll and vote.
We already have an efile forum which has only four topics, so people simply aren't using it or they haven't had an efile problem. General chit chat has 93 topics and is the most popular for now. Of course, it may be the most popular because there are no other forums except efile and website discussions. I did notice, however, even though there is a website discussion forum, some people posted in the general chit chat and their posts were moved to the appropriate forum. My point being, that the current poll indicates a preference, 68% for the Gen Chit Chat over more sophisticated choices and that is backed up by people posting in the wrong forum.
As for the rest, I suggest that since we're OUT of the season now, I think it's premature until we see that the other forums are necessary. The format of this forum is such that it's easy to see what the subject is and, of course, you can read and contribute or not.
So, I would vote against more choices than we now have.
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I agree with all of the above statements and this board may very well present a better avenue for peer to peer reviews of tax preparation, accounting, write-up, as well as any other software that some one wants to know about due to the fact we are not in any particular companies back yard. I will be evaluating other software as well. Whie ATX has some quirks, I am sure other companies do as well. For the money, it is a good product. Closing down the community was a bad mistake because we lost the knowledge and helpfulness of all of our peers. Even those who were not congenial usually offered some of the best advice. It appears this board is rapidly expanding to that level and I for one am pleased.
Terry D.
John wrote "hubris is a greater challange to the long-term success of any enterprise than the temporary effects of a few bad decisions. And it's often the least-recognized fault of many management teams, because by the time the damage is done they've usually moved on, often leaving a disaster in their wake."
Let me say one more time with emphasis:
The discontinuance and termination of the old Forum was a bad move, no question. But as I said before and John has said more eloquently above, the person who made this decision has reached their level of incompetence and will be promoted and move on. The problem as I see it is their attitude.
Discontinuation with no warning, no archive, no explanation, just a short terse message demonstrates an underlying attitude toward the customers that is likely going to get worse over time. That's the part that bothers me the most.
I also agree that of the 34,000 customers, there was only a small percentage who used the forum. That fact, however, does not make its discontinuance any more a logical or sound business decision. When ATX was founded, Glynn and William built the business with a good product priced right, the support and the forum, and I must mention the camaraderie that was built over the years between William and the customers. William was ATX. These two had the insight to see the value of the forum with ATXers helping each other. Support and other ATX personnel were nearly always present on the board and responded to customers frequently. So it is beyond my comprehension as to how discontinuing an element of your business that was so much a part of the success of the business can be thought of as a sound decision.
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Couldn't remember where I posted. The question is, under what claim would he file the amended for 2005?
I sent you a private message.
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I posted this in another forum but didn't get any useful responses.
TP had SSI back pay, and had to report repayment to Unum in 2004, and apply for a credit under claim of right for 2005. Does VT have a similar credit for 2005 under claim of right, or some other provision to recoup tax paid on income that was repaid? Or is it a misc itemized deduction like claim of right under $3,000? This is a repayment of about $20,000.
Joan I responded to your other post on this...follow this link
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XLS uploads are now allowed.
Here's the list
images: bmp, gif, ico, jpeg, jpg, png, tiff
documents: doc, htm, html, pdf, rtf, txt, xls
media: mp3, wav
Suppose I upload an excel file (xls) how can that file be useful to others, will they be able to use it on the page I uploadsd OR will they be able to download it OR will it just be there and not be useable?
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For those who may not know, there is a program update in addition to some forms. The latest program version should be 2006.23.8
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I am listening to all of you about being all done. Just read that the Tax Season in the Northeast is now extended until April 26, 2007. I am never going to be done this year..........Geeeeeeeee
I heard about another extension to the 26th on the local news last evening, however, I couldn't find anything official on that. Do you have official work from the IRS?
Well, I just went to the IRS site again and there it was, it is:
IR-2007-92, April 18, 2007
WASHINGTON — Taxpayers affected by the major storm that hit the Northeastern United States April 16 now have until Thursday, April 26 to file their tax returns, the Internal Revenue Service said today.
Earlier this week, the IRS gave taxpayers directly impacted by the storm an additional two days beyond the April 17 deadline to meet their tax filing obligations without incurring late filing and payment penalties. After further assessment of conditions across the region affected by the April 16 storm, the IRS has decided to allow affected taxpayers an additional seven days to fulfill their tax filing obligations.
Power outages and public transportation problems made it impossible in some cases for some taxpayers and tax professionals to meet the April 17 filing deadline.
Affected taxpayers can mark their paper tax returns with the words “April 16 Storm.” Taxpayers who e-file their returns can use their software’s “disaster” feature, if available.
This news release supercedes IR-2007-89.
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I guess they really didn't blow it big time. Most of the posts on the old board had a hundred readers at best. If ATX really did have 70,000 customers, that's a trivial number to loose.
Here is what the ATX website says "Find out why 34,000 tax professionals used ATX to prepare 2006 tax returns."
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A friend is working on her cousin's return. Her cousin died in an automobile accident last month. She was due a refund on her return. There is no will (she didn't have anything). The parents would like to be able to claim the refund. I think form 1310 would be used in this case. Am I correct?
I would check off box "C" in Part I. In Part II it would be no to the 1st 3 boxes (1, 2A & 2B). For # 3 I'm not sure what they mean by paying out the refund? This is where I'm stuck!! Any assistance here would be greatly appreciated!
Thanks!
Eli
Eli, that means if it is later determined that the party requesting, and receiving, the refund is not legally entitled to it, "they will pay it out to the appropriate party who has been determined to be the rightful owner." In other words, they promise to hold it in sort of an escrow until the proper beneficiary is determined.
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I would like to continue with this board though if that is alright with the rest of you.
Marge
I hope I can speak for the others on here that of course you're welcome to stay. If I can't speak for the others on here...then MY OPINION IS THAT YOU'RE MORE THAN WELCOME TO BE HERE.
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When I was on the phone with ATX tech support this am, the rep told me that they are asking customers that used the ATXers community to provide feedback via the Suggestion Box and that they are counting the number of comments they receive via this avenue.
Come on gang - let's at least go down swinging! (By that I mean - putting up a fight) Share why the ATXers community was so important to you. Don't let us the ones to blame.
Rah rah rah!
HV Ken
Sorry Ken, no thanks. Even if I thought it would do some good, I won't be a party to begging any company for anything. I'll speak when the time is right...with my wallet.
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The price increase and the Communtiy cancelation have me looking for a Tax package.
You may want to read this thread:
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Before we all go on our cruises (even if it will be in my aluminum boat with cane poles) I just wanted to thank erc again for the site. Don't mean to brag about our new home, but it's the best forum website I have ever seen as the features are incredible. My current delima: I haven't the foggiest idea what a site like this costs to run. I definitely am making a donation and need some ideas....erc?..anyone?? Thanks, Cathy
P.S. erc, you have a standing invitation for a ribeye dinner for your family if you are ever in bayou land.
Cathy, look on page three here for a thread titled "donation", that may give you some guidance at least as to the cost of the site. Everybody has to do their own thing, and there is no standard amount, but you know, if we each donated $10.00 the 122 registered members would result in a nice little nest egg for erc. In addition to the physical costs he endured, he put in many hours and used his expertise to get this site up and running. $10.00 each seems to be a small amount to pay for all he did voluntarily.
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Thanks erc for the upload option. It'll be useful as new worksheets are developed. XLS and doc files seem to be the most popular.
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but doesn't a qualifying dependent have to meet all 3 tests to be allowed? (Relationship, Gross Income, & Support)
Boyfriend's preparer said he was allowed to take dependency exemption and I say he couldn't. Is there something I'm missing? Any comments are greatly appreciated.
You are right, all three tests must be met, and the GF fails the support test, she can't earn any more than one exemption amount (this year $3,300).
The boyfriend's preparer needs more training on the not so new rules.
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Extensions mailed yesterday, last pickup 11:00 EDST.
Gerald
Count me in as of Saturday last
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If you don't need anything too fancy, and don't care to have your own domain name, google offers a nice (and free) service to those with a gmail account.
It's called the Google Page Creator
If anyone interested, I can send you an invite for a gmail account. You use the same username and password to log into the google page creator, and you do your editing with a simple WYSIWYG web based editor.
Your website address would be http://username.googlepages.com
Thanks erc, I already have a gmail account so I'll check it out. It sounds like it could be an option for me.
Form 2555
in General Chat
Posted
On the W-2 form input page at the top there is a drop down list called "Special Type (Wages)". Click on that and you can then find the "To Form 2555" that Jake told us about.