Eli

I have a nephew in Carrollton. That's where we stay when we go to the Cowboys' games. Well I hope your stay gets better :-) They should have had the seminar on South Padre Island instead :-)

Eli

The kid now has a girl's middle name because his parents didn't know how to fill out a SSN application properly.

I wouldn't assume that Rosa is a girl's name. It could be a last name as well. The name Maria is also used in mens' names as well.

Eli

I spoke with my "personal representative" last night and renewed the 1040 Office Package. Price came out to a total of $835. I thought the 2010 package was relatively stable with no real issues. I haven't shopped around at all, but I can't imagine there are that many vendors that offer as robust a package as ATX for this type of price. I've been a happy user for many years and I hope that continues.

Did the 1040 Office package come with unlimited efiling for 2010?

Eli

KC. I am praying for you and yours. I am in Dallas and everything is about tornadoes and thunderstorms. The damage on the TV is incredible. May God keep you safe.

Tom

Lodi, CA (Dallas this week)

What are you doing in Dallas? The weather has been nasty there too.

I am running 2006 thru 2010 on Windows 7 Pro 64 bit. No issues at all. New computer last tax season.

Secondly, I instaled a KVM switch and kept my old XP computer connected to the router and the workgroup. I can switch between the two computers with just 3 keystrokes and use the same monitor, keyboard, mouse and speakers for both.

I have been called a geek, and LOVE the designation.

Same here! 2006-2010 no issues at all. Using Windows 7 Ultimate with Service Pack 1

Eli

Just wondering how much are you paying for a gallon of gas? The lowest in my area is about $4.05 and the highest I have seen is $4.85, seriously considering going with a hybrid car. I wish I could just walk to work or hitch hike to work

$3.63 in South Texas for regular unleaded.

Eli

I'll reply to this thread after 4/19, when I have time to do it a little bit of justice.

But you already did :-)

Eli

Good luck, Jack!

Eli

"Who must file. Each person engaged ia trade or business who, in the course of that trade or business, receives more than $10,000 in cash in one transaction or in two or more related transactions, must file Form 8300. Any transactions conducted between a payer (or itsagent) and the recipient in a 24-hour period are related transactions. Transactions are considered related even if they occur over a period of more than 24 hours if the recipient knows, or has reason to know, that each

transaction is one of a series of connected transactions."

To me, the key word in the instructions is cash. That does not appear to be the case in your post.

Thank you, JRS! I read the form just to make sure, but always feel better to get a 2nd opinion :-)

Eli

Taxpayer is self employed. His girlfriend is raising the question if Form 8300 is needed if he earns more than $10000 in a year. He does not get anywhere near that amount from one single person or company. He does have way more than 10000 in self-employment income but from many different clients. I have never used this form & from what I read it doesn't appear that he would need it.

What do you think?

Thanks!

Eli

Client comes to my office, gets taxes prepared and completed on Feb 11th. Fairly simple return, client asks if she can post date her check till she gets paid on Feb 15. I grudglingly accept. Check is dated Feb 14 and stupid me, I go to the bank and make a deposit on Monday Feb 14th. You guessed it, client's check bounced, she was charged $35.00, me nothing got my money. Now, client thinks I should reimburse her for the $35.00 fee for not waiting to cash a check dated earlier. Huh? I forgot, I didn't read her mind and didn't know she made a mistake on the dating of the check so again, it is my fault. Huh?? Well now, here is my final response to the client, remember when you asked me if I would turn you in to the IRS for telling me you were doing something illegal after your return was transmitted???? for $35.00 I'll keep my mouth shut. No, I don't know what the illegal thing was cause I asked her to leave, don't care and am glad she is pissed enough to not come back next year. Geez!

Hang in there, Terry! Offer her a free retun for next year. Maybe she'll forget & go somewhere else :-)

Eli

New client...well actually didn't become a client lol..walks in & hands me her paperwork. 2 w2's totalling about $3800. Says she does massage therapy for several beauty salons in the area. She also has two kids & provided SSN & birth certificates for both. So I ask how much she earned & if she has any proof of the income. She asks me for a tax book. I look at her & ask what she means & she responds that she needs a tax book that shows the amounts of the credits she gets compared to her income (EIC Table). I ask why & she responds that thats what she did with the previous preparer. Oh well one less new client :-)

Eli

I have a client who received the first time home buyers credit in 2008. Of course this year have to payback the 500.00 installment. I submitted the return filling out section IV on page two of form 5405 and recieved an error stating "First-Time Homebuyer Credit Repayment Amount cannot exceed the credit received." Now if memory serves me correct and there hasnt been a change in our numbers system as we now it, isnt 7500.00 more than 500.00?? LOL!

What have I screwed up??

Thx!

TG

Maybe just a glitch. Try updating and/or rebooting.

Eli

Taxpayers filed their return 2 weeks ago. At the time the spouse said she had paid tuition for college classes in Mexico. She asked if she could take one of the tuition credits & I asked if she had a tuition statement from the college & if it participated in the DOE FSA program (which I highly doubt). She stated she did not have a statement & didn't know if it participated in the program. I declined to give her the credit, but told her I would amend the return for free if she provided the required info. Tonight she called & said that another preparer had given several of her friends credit for the same school & that I should amend her return. Again I asked for the info I had requested & she could not provide either. I politely declined, but told her to bring one of her friends along with the return to look it over. She said she would, but we'll see.

Looking over Pub 970 I feel pretty safe I did the right thing. I guess I'm just looking for confirmation.

Thanks!

Eli

Anyone else noticed this. I created and sent thirteen e-files on the 15th, early in the day. Then I created around 5 in the afternoon.

This morning my acks show 8 have been sent, but most of these are from the afternoon, I would expect first in first sent, but that doesn't appear to be what is happening. In fact the last one I sent is among the ones already sent to agency.

Deb!

Mine have all been sent to agency, but still no acks as of last night.

Eli

You need to complete the IA1040 & IA126. You need to complete the IA1040 using all-source income and then use the IA126 to figure your Iowa-source income. Also if it is a married couple - usually better to file married filing separately on one form status 3 instead of married finally jointing status 2. this is a little more work but usually better tax rate

Thank you so much for that. I was hoping someone would help out :-)

Thanks again!!

Eli

I am having no excessive problems. The acks are taking a little longer; then all of a sudden you get a pile of them. After all, the acks were coming in unusually fast prior to this setback. If everyone holds their cool, we will get through this. I do believe it could have been a lot worse.

Yup Acks are definitely slower, but not panicking lol :-)

Eli

Funny, when I read the end of the question, "will this work?", and you responded "not at home," I thought you were making a joke that getting a divorce and co-mingling joint funds would not work in their living situation "at home." Now I realize that you were making reference to not being near your reference materials. It made me chuckle anyway. I'll take any levity at this point, even if it's just a figment of my imagination.

Thats funny! I was wondering where you got the marriage advice thingy lol Have a great season!!

Eli

Yes,

But it will only work if you are simply paying back. It will not allow e-file if anything is included on page 1. Claims for the credit must be paper filed.

Deb!

Updated one more time & it finally worked.

Thanks, Deb!!

Eli

Thanks, Deb. I updated shortly before 11:30 here, and the 5405 was still draft. I just updated again and I am good to go!

Were you able to create the efile including the 5405?

Still not ready to efile? Anyone else having issues with it?

Thanks!

Eli

If you are being brave and sending out your returns today, please post the experience with us. I am holding off for another day just in case the servers at CCH or IRS melt down. If it all looks good in the morning, I will be sending my 20+ returns that are sitting on my desk.

Thanks

Tom

Lodi, CA

Getting ready to send a few, Tom. I will let you know :-).

By the way I am having trouble with Form 5405 on a return. It says: Error: when filing form 1040, the following supporting forms are not allowed: 5405

Think maybe ATX has not updated their filing system to allow this form?

Thanks!

Eli

If you put it on the Sch C, the poor sap will pay $1200 in self-employment taxes on it. I'd consider it "other income". It's worth the $1200 gamble IMO.

It would probably be taken care of with a letter later on down the road if it was questioned.

Eli

Wise tax advice AND marriage advice, Eli!

Marriage advice? I only mentioned Form 8888 :-)

Eli

I have a client that is in the process of getting a divorce and are filing joint because of the EIC. They would like to have half of the refund deposited into each of their separate checking accounts. The husband will be out of the state at the time the check would be received if mailed. Will this work?

Not at home, but check out form 8888 & see if this is what you need.

Eli