Catherine

Oh, we know all right - even more ridiculous amounts of RAM!

Remember, you ASKED for this: The world's leading expert on European wasps walks into a record shop. He asks the assistant “Do you have ‘European Vespidae Acoustics Volume 2? I believe it was released this week.” “Certainly,” replies the assistant. “Would you like to listen before you buy it?” "That would be wonderful," says the expert, and puts on a pair of headphones. He listens for a few moments and says to the assistant, “I'm terribly sorry, but I am the world's leading expert on European wasps and this is not accurate at all. I don't recognize any of those sounds. Are you sure this is the correct recording?” The assistant checks the turntable, and replies that it is indeed European Vespidae Acoustics Volume 2. The assistant apologizes and lifts the needle onto the next track. Again the expert listens for a few moments and then says to the assistant, "No, this just can't be right! I've been an expert in this field for 43 years and I still don't recognize any of these sounds." The assistant apologizes again and lifts the needle to the next track. The expert throws off the headphones as soon as it starts playing and is fuming with rage. "This is outrageous false advertising! I am the world's leading expert on European wasps and no European wasp has ever made a sound like the ones on this record!" The manager of the shop overhears the commotion and walks over. "What seems to be the problem, sir?" "This is an outrage! I am the world's leading expert on European wasps. Nobody knows more about them than I do. There is no way in hell that the sounds on that record were made by European wasps!" The manager glances down and notices the problem instantly. "I'm terribly sorry, sir. It appears we've been playing you the bee side." Ba-dum-CHA!

Having a broker to call for these is wonderful and has saved my bacon a couple of times.

There should be a web site with information on the merger. I goggled it (sic) and got a pdf: link is US-Tax-Information-On-CH2M-Acquisition-Form-8937.pdf and it gives their estimation of basis and how to figure it.

Going off for the weekend - maybe I'll have a contribution when I get back!

Or people with just-fine skills in their native language, when dealing with a specialized topic they know nothing about. Especially if they feel like they "should" know something about it.

Yes. All remaining loss is taken in the year of disposition.

I think one is Korean.

It keeps getting harder and harder to advocate for our clients. They are also going to have to extend the response time, if it will take weeks to get a POA on file!

The only other thing I can think of (since it's a bit LATE to do a retroactive payroll for 2017; why do our clients do this stuff to us?), is to write up the explanation now of why, for this one year, he didn't take a salary when obviously there were funds to pay him. Don't send it in yet - but write it up when it's fresh, so that when (not if) you get the letter from the IRS about it, all you'll have to do is tweak it a bit, fix the date, and send it. 'Cuz otherwise by the time the letter shows up all the details will be foggy. For both you and your client.

When you have to be passenger, not driver?

I used to love roller coasters myself. Stopped loving them when they put in the over-the-shoulder harness contraptions. They always hit me mid-head level and by the time I'm off the ride I have bruises behind my ears from my glasses getting trapped and bashed. Grrr. Give me one of the old wooden coasters with a lap-holder and I'll ride all day long!

I've had really good success with the first-time penalty abatement request. Try it!

With you!!! I have one who lists "reimbursements" as INCOME in his business. But they're not reimbursements at all. They are payments to him from insurance companies for covered services to their insureds. Those are separate from "reimburse" which is when he reimburses himself for stuff he bought for the business on his own dime instead of the business dime. Ten years and I haven't been able to get through to him. So we just up-charge him for the time to straighten it all out.

He said it wasn't. And he's not here to ask for more details.

@Max W - you don't want a Lamborghini anyway. My husband got to ride in one once. long ago, he said it was like siting in a recliner, three inches above the highway, going 90mph. Not fun.

It changes when he hires himself out to non-related parties to do the same work. A friend, many years ago, spent several years unemployed while living with and caring for his grandparents (keeping a promise he'd made as a teen). Once both were gone, he discovered a new profession: elder care advocate and consultant. But he wasn't taking care of his grandparents for profit as a job.

Good. Then my comment served its purpose, to draw people back to this being taxable income. Line 21; the guy's not in the business of doing this for profit.

Else it's called "retirement" which I hear actually works for some people. No one I know! All the retirees are busier than ever.

Then call it "as good as it's gonna get" and tell the client he's lucky that's all that was dis-allowed. He learned a lesson not nearly as pricey as it could have been. (And yes, I knew the IRS wouldn't - note the use of the conditional. "Should" and not "will." But there are lots of places where we see clearly what they *should* - but don't - do; we talk about those all the time here on the forum.)

For these folks, I would NOT recommend "filing *something*" just to get it done by 9/17 with the intent to amend later. Once the pressure (of monthly penalties) is off, you won't see them again until 9/1/2019.

I'd call it a gift from the parents. "Here, son, we're taking a lot of your time and want to thank you."

I like John's suggestion, and Max's. I'd call the RO and leave a message that you will call supervisor TOMORROW if you don't hear - certainly not more time than another day or two. This has gone on long enough. And I'd change John's last line from "worried about protecting client's interest" to "my responsibility is to protect the client's interest" because that is accurate and carries more weight.

From the 16th Amendment (that legalized income taxation): "The Congress shall have power to lay and collect taxes on incomes, from whatever source derived....." If it's income, it is subject to taxation, unless specifically exempted. Your return question should be why she thinks it is exempt. Yes, it might be interest on a settlement. Yes, the settlement might be exempt - but NOT what it earns. Get her to tell you what she thinks and you'll know how to debunk her error.

My husband ran into the *same* thing. Somehow I got all the digits.