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B. Jani

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Posts posted by B. Jani

  1. I just finished with single client 70k AGI without health insurance. Penalty came out 1% to $643 and when I asked him about this, he said, if I buy insurance, cost me 4000k so just pay penalty and still coming out ahead. Every case this year is FUN!!!!!!!!!

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  2. Thanks Tom & Judy. This is the English I understand now. At one time I was planning to claim the whole premium paid minus credit and let the IRS bounce it back with CP notice and deal with it. The problem is from 60k SE income with MFJ & 1 dependent, 11K out of pocket premium and 3k Credit from market place in NY. So playing with the formula the REG 14-41 explains is from 6+K refund to -3K pay back is crazy. I am not even sure IRS computer has some kind of cross check for SEHI for now. But then it becomes issue with wrong filing and possible preparer penalty. I am sure that I am having fun this year. All other cases of Shared responsibility is easy to work with so far but this SEHI seems like a BIG ONE.

    Again Thanks for explaining in plain English. I appreciate it.

    • Like 2
  3. Hi Tom & Judy:

    I am also lost with the same problem. I know that there is no worksheet but would you be kind to list both way steps for (certainly my benefit) but the benefit of all the friends of the board. I heard that Drake as well as Turbo Tax and HR Block and Tax Act has some kind of worksheet for calculations.

    Thanks in advance.

  4. I personally believe that NO explanation necessary about our work. This open up the can of worm and some consumer protection depends upon state. If the customer does not appreciate what we do then I would not keep them as client. I have always increased the fee for PITA clients. If they stay I make more, if don't I am happy.

    Jack always says that once you fool me is my mistake, twice..............

    Just my two cents!

  5. I am in NY and I was told the same thing. It has something to do with state law. I never use any bank product but sign up with Fee Collect. Never used it but now for 2015, if I sign up for fee collect and do not use it still responsible for $15 per efile as per ATX. So I decline it.

  6. Also this scam targets more non English speaking community. And scammers are so smart, they can speak your language. Mostly their target is senior community as they are more vulnerable to this then the young. I myself got the call about 3 times so far this year and every time told them to mail me the info, cursed and cut off the phone. I put a small flyer when deliver the completed tax return file mentioning that if any one call or get any letter, you must call me ASAP for the help. (BIG LETTERS) and client started asking me why this flyer? when explained, they are now prepared and ignore the calls.

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