joanmcq

You can't file a 2848 if you are not a CPA, EA or attorney. You're limited to the 8821.

Actually, when you think about it, it's not a scandal, it's an over hyped bit of nothing on cherry-picked data. Woe that the IRS should use modern data mining methods to select groups that might require more scrutiny?

They weren't targeting Tea Party & conservative groups either. These groups were simply part of a larger data mine of groups that possibly could be using the 501©(4) status for political lobbying, etc. Simply a few terms among many like 'progressive' and 'occupy'.

Has anyone had a client that's gone through ID verify and gotten their refund? My client received the letter asking her to verify her ID. She did on May 18, and the return is still showing 'being processed'. Does anyone know how long it might take?

I'm still noticing a big memory draw, even without printing. Had to reboot the program a few times yesterday because I was over my limit and it was getting pretty slow to print. Not big returns, either, but I did have two open at once.

This. Congress says ITINs qualify for the CTC, you get the CTC. The best the IRS can do is put a checkbox at the top of the form that tax preparers will then scream about because they didn't read the revamped form.

I haven't had the need to print a return yet, but 12.18 is working well for me too.

Oh and BTW, Death Valley is in CA, not Arizona! And in the summer there, hot water does come out of both taps.

I had the same issue in my office; lots of windows that drafted like crazy. Solution: upgraded to dual pane triple E windows. Made a HUGE difference! My 'client' office was unbearable in the summer even with the a/c running full blast and it's only 8x10. Now it stays cool unless it's in the high 90's. And I don't have central heat or A/C, so no drafts in the winter & keeping out the sun in summer is important.

So stores in the Dominican Republic take food stamp debit cards? These aren't regular debit cards; they are processed completely differently. Go to your grocery store and look at the keypad; Debit, Credit, EBT.

Ok, you've convinced me to stay with HP. I'll use my coupon for something else!

Anyone have any experience with Dell printers? The reason I ask is I have a $100 coupon for Dell, and could get a new laser printer for about $30 with it. Otherwise I'd go for an HP. Of course I could always spring for another laptop, but I need a workhorse printer more since my all-in-one is getting beat to death by tax returns.

Sacramento temp right now: 102. High: 103. Expected high tomorrow: 107, with 106 the next few days, giving us the relief of 102 again by Tuesday.

IMHO most couples became domestic partners because they couldn't marry. Now there won't be imputed income because the same-sex spouse is covered.

No, because no states recognized same sex marriages back in 1996. The ruling basically states that marriage is defined at the state level, and the federal government cannot create a discriminated class of marriages that are recognized by the states. A protective claim had to be filed before the statute tolled for amending the returns. I was filing 2009 claims this year. CA claims won't run any farther back than 2008.

Good point Lynn! The corp can't rent from the individuals under the self-rental rules. This is one of those 'dream clients'. Not only because they want to set up everything right from the start and understand what running a corp entails, but are in the position to do a lot of referrals!

No, you'd have had to file protective claims to keep the statute open to file back more than 3 years. It looks like the ruling will take hold in 25 days, per Lambda Legal's website. I haven't had a chance yet to read the full decision or all of Lambda's FAQs on tax implications.

I have a new s-corp client for whom I'm setting up the books. They have just rented a live/work space part of which will be their personal residence, part of which will be used in the business as a classroom & studio. I believe the space was rented personally, not by the corp, but I'll have to check on it. I was thinking, if not rented by the corp, the best way to deal with the expenses will be an accountable plan. Does anyone here have experience with live/work spaces that could give me some pointers? This type of arrangement is becoming more popular here, and it's likely this will not be my only client with this issue.

And so the EITC claims were being reviewed this year and people howled. You can have fast 'refunds' or accurate refunds. Either way one side or the other will find reason for complaint.

Scholarship is one thing, the deduction is another. The deduction is what most of us were talking about as far as being over your head.

Yup, I have a beneficiary IRA from my dad, so I know they can be done!

I've been playing around with the UltraTax demos to see how they work, and to see if the integration of the software will justify the much higher cost. I'm looking at picking up much more write-up and bookkeeping work since that is my assistant's forte, and we can both make money from it. The demos are pretty impressive, as is the price!

SC is an aberration, they don't tax an out of state rental, but neither do they allow a loss from one.

The non-spouse beneficiary does have the option of transferring the account to a beneficiary IRA. However, the non-spouse beneficiary cannot roll the account into their own IRA.

I prefer live seminars, but I pick ones that will add to my knowledge base, not just give me some credits. For example, last year I attended the AFTPS Boot Camp to learn more about collections and OICs from people that have a lot of real world experience in them. Networking and discussion with other tax pros is an added bonus. Smaller classes allow for a lot of question & answer. I've taken some of the very specific CCH webinars too, when I need information that isn't readily available, like filing a 5471. Hour long classes like you get at a lot of conferences tend to be a waste of time, and I get irritated if I know more about the subject than the person teaching. And I like to travel, so if my budget allows, I find it another bonus of live seminars and conferences!