Catherine

Most of the payroll returns are done (w-2's and 1099's), although a couple of clients with new contract workers did NOT read my notes about "due 1/31" and just got me info over the weekend. I have had very few tax returns come in, so far. In a way it is terrifying, because it just means the onslaught will hit even harder. But folks here have mainly been digging out from our back-to-back winter storms. The ones that have come in are mainly done. Always the "missing item x" issues but turn around has been quick because we are not yet swamped.

Before we all need this: Jim Cummings reading Star Wars' Darth Vader in the voice of Winnie the Pooh. Link is safe - unless you consider guffawing to be dangerous. Jim Cummings Reads Star Wars as Darth Pooh and Darkwing Daine Jr

Because we have easier ways to hurt ourselves...

I believe it is the $28,995 is the starting point - because if this had been a cash-only transaction, that would have been the price paid i.e., the fmv. After you take that starting point, then you have to deal with the trade-in of the old truck and possible depreciation recapture on it, and all the other adjustments. But start from the final cash price.

This is Drake, and I thought I had done the NR worksheet B. I will re-check when I get back to my office later. Thanks!

I have filed extensions and gotten rejections due to a return already having been submitted. For one client, that was the first indication of identity theft. But it was a couple of years ago; the system may have changed.

Telling the client that the money becomes taxable income may be the impetus she needs to suddenly find "copies she had forgotten about" or to get new ones from the day care provider.

After a good night's sleep we all realize LOTS of things that we should have known.

Here's a weird one. Client came in to talk about doing her aunt's final return and estate income. Aunt lived in NJ and passed away in November. That's not the weird part. The weird part is that the aunt, in her 80's, was herself the executor of the NJ estate of a friend of hers. My client cannot find any information on what HER OWN obligations to this other estate might be. For example, where to find out if it is finalized or not, and if not, does *she* now need to finish it up? Can anyone point to a place I can send her to get this info?

Have a taxpayer who owns a rental property in Maine. It runs a (paper) loss every year, and it is the *only* connection the client has to Maine. Since there is Maine-source income (even though the operation is a loss), we believe we need to file in Maine - at least to start the SOL. What is the secret decoder ring trick to keeping her out-of-state wages from being subject to Maine tax? I can't find a correction field anywhere that prevents her from owing tax to the state of Maine on an $8,000 loss.

We had a series of them, that ALL learned that the rustle of a plastic grocery bag meant parsley on the way. Parsley to a Guinea Pig has the same effect as ice cream and cookies to a five year old.

Sometimes hard to do. Don't we all have clients who get corrected 1099's every May, or partnership K-1's in September? Depends on circumstances, I guess. If a "real" return can be done quickly, wait. But preferably not until September, assuming an extension shows no fraudulent return has yet been filed.

And the squeaky Guinea Pig gets the parsley...

I understand your point - but filing an extension will NOT prevent a false return being filed by someone else. I have some clients for whom we filed extensions last year (because we did not yet have full docs) and when we went to file - could NOT - because someone else already HAD. That was VERY disturbing to me -- but in a case like this, I would have no trouble with my ethics filing that "place-holder" and nearly-blank return to prevent fraud.

For my "daily" passwords I have taken to using 1Password (password manager) on the computer. However, for the long lists of "never use this again" especially where there are rules that have to be obeyed but are NOT presented until you try something (sorry, must be 9-23 characters; sorry, MUST include special character *^%# or @; sorry must NOT include special characters *^%# or @; etc) I have a password-protected Word document that lives on an encrypted drive. Last time I checked it was TWENTY-EIGHT PAGES long. And yeah, if someone manages to hack into that, I might as well convert everything I own to cash, store the cash in a safe, and never attempt to go online again.

Take whatever password you used and add a 1 to it. Next prompt, change the 1 to a 2. Rinse and repeat. Once you get up to 9, you might be able to go back to 1 - or put it at the beginning instead of the end.

Yes, definitely call support. I called about Mass; I can e-file but paper forms are not yet approved (by the state) so I can't print my clients' copies yet. Had to settle for MA screenshots to confirm info before submitting. Before attempting to efile I wanted to check the state status. They answered quickly and explained it all in short order.

Me, too! I figured there was something special in Ohio that needed the Rita hug treatment as a standard practice.

That one item I track on my spreadsheet, and also work on clients in the order their documents came in. That only seems fair!

Here's a new - and very nasty - one. Is it the one your client got caught in? Link is safe; goes to Forbes Magazine. W-2 phishing scam

Good idea, @BulldogTom!

Maybe she needs to buy additional property. Just sayin'...

Proving my point that the main effect of new rules & regulations is merely to change the details on how to get around them....

Ever notice how they relent when it's a case of big institutions with entire departments dedicated to accounting that get the "relented" - but when it's poor schmucks like preparers and/or the general public, we just have to deal and if it's too much too soon with too little notice well that's just too doggone bad. Grrr.....

Sometimes I think the proper term is autoINcorrect!