ILLMAS

Can ChatGPT make someone wealthy? Asking for a friend.

I have a CPA sister that did the opposite and works too much.

CPA's are even leaving the profession and becoming CFO, comptrollers etc... They no longer have to take CPE hours or be licensed and probably earn more and are less stressed.

I see this program being hacked to do the opposite of what it’s supposed to do.

I'll stick to this still main( ) { printf("hello, world"); }

Just out of curiosity, does anyone here use ChatGPT on a daily basis? Like for what reason if I may ask.

https://www.accountingtoday.com/news/chatgpt-retakes-cpa-exam-as-v4-0-passes

What is worst, people not going into the accounting field or accountants leaving the field?

I wonder how many “Made in the USA” companies already outsource some of their operations in the recent years.

I could imagine people rejecting this technology just like people who do not find value in using social media.

What did state say when you called them?

No worries, Proseries has the same problem, I’m working on a multi state partnership and so far I have used ATX for some forms and some manual forms.

Tell me about it, they have an annoying pop up to remind you if use the payroll module. I finally installed 2021 and moved my payroll clients this week.

Exactly, a high school custodian saved $17,000 on electricity by using the school power on a handful of machines.

Since 1993 when it was called Turbo Tax and since 2008 I process returns in ATX and ProSeries.

That was going to be option 2. Thanks

Can I resubmit an extension that was filed last night to include a payment today? If yes how does one supersedes the prior extension? Thanks

Hello Teresa, you would report it as like any other stock sale but you need to go back to date of death and look up the value of the stocks. That would be your cost basis, there is a chance the stock didn’t appreciate in value between DOD and when your client sold them.

https://www.investopedia.com/terms/s/stepupinbasis.asp#:~:text=Step-up in basis%2C or,the asset is sold later.

I don't know if you researched your question first, but here is good write up: https://www.thetaxadviser.com/issues/2021/may/tax-issues-noncompete-agreements.html

Present The state released a communication in early February that the rebate was not taxable.

If you want to share this news clip with your client: https://www.cbsnews.com/chicago/news/chicago-couple-wedding-invites/

Yes, it’s very common and nothing one can do about it. Have your client contact their senator.

First agent just gave me general information as to why they were assessing the penalty (agent was not helpful at all, compared to the one I spoke today), a couple of minutes ago another agent told me exactly what the problem was, as I had suspected the IRS never processed the 1099 package mailed in early 2020 and the second submission of information back in July 2021. Once we write in, I have the confidence the penalty will be removed.

Civil Penalty for 2019 but makes no reference to any forms.