B. Jani

Well, i did call irs today and the problem is solved but this is i found.

The return was filed MFJ but the CP59 was issued to wife as she did not file the tax return for 2008. The name and SS# were correct on the copy of the tax return. The person who did data entry at IRS missed to mark that return is MFJ (some check mark in front of wife name). So IRS computer recognize the husband did file but wife is missing.

When i gave all the info over the phone, they saw the problem at there end and transfered me to the second lever who can fix this check mark error done by IRS. Finally got the live person and he took care of it.

The second level CSR told me it is done & no more letter coming from IRS. I requested to mail client a confirmation letter so client has some record. The CSR denied that there is no such letter and problem is taken care of so why to worry. I insisted more and finally agree to send one. I am just crossing my fingers that client may get a confirmation letter and no more CP59.

Client was with me for whole 51 minutes and now he agrees that he will EFILE from next year.

Thank you for all your input.

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One of my client received CP59 saying that tax return for 2008 not received. I asked client for the record. It was mailed 03/25/09 on time with certified mail receipt and with check for $1995 cashed by IRS on 03/30/09 as per the bank info on the back of the check.

Should i resend the copy of the tax return with copy of certified mail receipt and copy of cancelled check or should i call?If i need to call then can you able to give me the phone number please. Never had this one before.

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Thank you for the good wishes. I had wonderful day. Enjoyed myself relaxing whole day. NO WORK.

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My prayers are with you.

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:bday: and many more.

To continue this, i have the same problem as client received lumpsum for 08 in 09 due to disability. Fill the lump sum work sheet and i see the LSE in front of line 20A.

Now my question is that SSA-1099 also shows $5300 as ATTORNEY FEES and deducted from the total payout. Does this goes to SCH-A line 23 or NO BENEFIT?

Please help.

TIA.

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NY IT 205 - Fiduciary

I have 1 return NY205 from 02/23/10 and other NY205 from 03/15/10 still shows irs cleared.

Does any one else have this problem?

TIA.

Thank you, OldJack.

Thanks for guiding me to the right direction.

I should have been more clear. Client is purchasing medical practice (Podiatrist Practice). The seller retired and sold practice to my client who is also podiatrist including equipments/furniture/fixtures, patient list etc. I will ask for the copy of the contract to understand what is purchased and how goodwill is allocated. Also will ask for 8594 if one is available.

Other then books, where do i show on tax return the 50k paid in cash and other 3 installment of 50k being paid annually? or should i just amortize based on the class of asset?

Thanks.

Got a new client who is buying medical office by paying $50k(2009) as down payment and 3 more annual installment (2010-11-12) of $50k each total of $200k.

Am i correct to understand that i have to amortize 200k for 15 years?

What else i should keep in mind.

How do i show on tax return that 50k is paid each year or there is no effect and becomes the base value of the business and comes in to the picture when sell.

Any help is highly appreciated.

Thank you.

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