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schirallicpa

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Everything posted by schirallicpa

  1. After spending about an hour on the phone with IRS to get a damn PIN I was told that the electronic signature on the 2848 was only acceptable when uploaded thru the IRS portal. Which it was uploaded thru the portal. Which my software says it was accepted on Oct 3. But the woman at the PIN phone center didn't find it. So she asked me to fax it to her. And then she wouldn't accept it because it needs to be an original signature.
  2. I'm just seeing this post as I am in the middle of answering an informational questionaire that my client recieved and passed along to me. Ugh
  3. My sister-in-law is my very worst client. I love her dearly........I'll be getting her stuff Monday if I'm lucky.
  4. My client has losses carrying over for the last 4 years. Some of the losses included the spouse's as well. Now she has quit her SE business. Do her losses continue to carry?
  5. well - this just got worse. There is already a transcript of my clients "tax return" with the IRS. My client has not filed yet.
  6. I'm in the middle of divorcing couple right now. And what should be very straightforward just gets messy with people. I don't know why you are afraid to ask if they have other income they are not claiming. You should always ask that question regardless of what they have given you. It should be outlined in the engagement letter that you should always make them sign. You have to be a hard-nose with divorcing people. As a rule of thumb - divorcing people should just file MFS. Don't even entertain the idea that they should be able to get along.
  7. Kinda pressing the deadline. I have an elderly couple that cannot find a PIN letter. I have an 8821 in place, but I don't think that will help. I am sending a 2848 and hoping IRS will give me PIN over the phone. What a PITA these things are.
  8. Unfortunately, I seem to have gotten older as have my clients. So - more and more I am getting questions about SS and SS planning. I was looking online to find what info I could this morning for a client, and came across some courses. So wondered if anyone else had taken courses or has a go-to resource. I ordered a book from the social security association in the spring but I haven't received it yet....imagine that.
  9. This is more of the ill-logic of our tax system. I have advocated for single payer status for everyone. Forget all this married stuff and dependents and credits. You get a w2, the exact taxes are withheld and you don't have to file. You have a business, you figure out your income and file a return. No kids on returns. No credits. No arguing. You're liable for yourself. Would make the system easier and less abused.
  10. Following up on this - the IRS will only give you a LTR385C which states that the IRS accepted the S status on such date. The Form 2553 is thrown out after the IRS has accepted the election. This is what I was told today when I finally got thru to someone. And I dare say, the phone lines and queues have not gotten any better. It took me 3 tries this week, the first two I was disconnected after a long hold.
  11. For NYS estimates I can go back into the return and create the sept and jan estimates. (I duplicated the return first.) In this case, we didn't know there was going to be a large influx of taxable income in August. I think I can go online and make the federal estimates for them, but if 1040ES was a separate efile to create in the software that would be helpful.
  12. I raised prices last year and will raise again this year. None of my software or paper product suppliers have left their fees low. And min wage is a killer. Last year I cut hours, but that doesn't help me much. I end up working more myself and I can't do that either. I live in a small low-income town in western NY and I will lose some clients. But the population here seems to have the money to buy alcohol, drugs and cigarettes.
  13. I started out in tax, but was able to be part of a few audits. Overall it is all boring to me. The clients make it interesting. I'm not smart enough to find something else and have done this for so long I don't think I could quit. Clients are like gum stuck to your shoe.
  14. Thank you everyone for creating this conversation. I was unaware of the new reporting. I was chastised by a local attorney for helping a client create a Corp a long time ago. So I leave that alone. But I did do the paperwork to create my husband's corporation several years ago. So I will have to keep up with this reporting requirement.
  15. The accountant needed a credit and put it to shareholder loan. I suspect the credit is unreported sales. Clients always make sure they keep track of every expense they can take. Somehow they forget to account for all the income needed to pay for it.
  16. OMG - it just occurred to me that we had carried back the 2020 loss - good grief. And my client doesn't know if he got the refund from that. Why don't clients know these things? Anyway - now I will be pulling transcripts to see if NOL was accepted and applied and if refund was issued. We filed the 1045 in 2021. Maybe it was destroyed???....
  17. I'm doing amended returns for ERC credits. I reduce payroll expense for the credit coming and income goes up significantly. My client is an Scorp. He will be paying back a ton of tax on this. What kind of dumb tax game is this? Yes - he will net ahead, but this is nuts.
  18. I like to think I have a dumb question on here at least once every 10-14 days this year. Amendments to returns for ERC for 2020 and 2021 change my 100% shareholder's basis carrying forward to 2022. It does not change his taxable income for 2022. (I do have to amend his 2020 and 2021 personal income tax returns.) Amend or not to amend......that is the question...........
  19. Client would have filed this in 2005. And they can't find the paperwork now. Can it be retrieved from the IRS somehow?
  20. Whatever happened to all those documents destroyed by the IRS? Was there any follow up on that?
  21. Husband passed in March of 2022. She gifted her son a reportable amount of money in June 2022. So I am filling this out as her gift individually. But - got hung up real quick as I started to check that she was widowed on line 16. But had skipped line 15 asking if she was married. Hmmmmmm - apparently this gift would not have happened if husband was still alive, so is this just her gift or do I need to get his SS#. Not sure if he can or cannot be consenting from the grave...............
  22. Just faxed one in - I'll let you know.
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