ILLMAS

I lost 100lbs eating them, gain all 100lbs while their absence, I cannot wait for them to be back on the shelf

Okay here is what I suggest, lets say your client had 2 buildings: Building 1 Cost $250,000 A/D ($125,000) Building 2 Cost $100,000 A/D ($55,000) He then sold both buildings for $500,000 and received an initial payment of $300,000 and received the remaining balance in 3 separate payments. This is how I would record, of course deleting the deposit of $300,000. D C Cash $300,000 Building 1 $250,000 Building 2 $100,000 A/D $125,000 A/D $ 55,000 Gain on Sale $330,000 Receivable $200,000 You can name this a due from or note receivable Totals $680,000 $680,000 Then once the other payments come in, you would offset them to receivable. If the contract to sell everything at once, this how your JE should look. Hope this helps.

Has the client finally received the complete sales amount?

You mentioned that 2013 hasn't been reconciled, you can simple void the deposit or delete, your JE will affect cash which will show on your bank rec. Ah and NBV stands for net book value.

"Of course, then you'll have to talk about who is paying them or whatever else is going on." Bingo, we always turn a blind eye for our clients don't we.

Yes a journal entry would work best, here is an example: D C Cash XXX Building XXX A/D Building XXX Gain/Loss on Sale XXX or XXX Income account If the commission was paid at enclosing, I would just reported it separately and reduce it from the gain/loss or if necessary you can create a closing cost account. Where it makes a real difference is on the tax return, for book purposes just reporting the gain/loss is what is important.

True, but remember when you say illegal alien the first that comes to mind is Mexican, but there are also illegal aliens coming from Europe, South America, Middle East, Caribbean and Asia. We normally exclude them because they blend in and don't automatically think they are illegal don't you think?

I agree illegal aliens sounds politically incorrect, just like the word negro. FYI they have the same responsibility of filing taxes like everyone else

I took my iPad to last year IRS tax forum and found it impossible to take notes, it was okay to follow the PowerPoint presentation.

LOL it was a trick question and you figured it out.

"she did not have a copy from the original visit" Agree, they failed to mention anything about what she did with her original copy, I get this all the time, can you send me a copy of my return because I need it for the bank.....

As the subject line says, what do you think is wrong with this article? 2013_06_19_14_00_30.pdf

Ms Tabby, how did go so far?

Just out of curiosity why is the large business and international dealing with this case? They usually don't come out on cases like this.

Once they find out they have to report their "world income", they decide 1040NR is the best option

This might be helpful to you: Exemptions Generally, if you are a nonresident alien engaged in a trade or business in the United States, you can claim only one personal exemption. You may be able to claim an exemption for a spouse and a dependent if you are described in any of the following categories. If you are a resident of Mexico or Canada or a national of the United States, you can also claim a personal exemption for your spouse if your spouse had no gross income for U.S. tax purposes and was not the dependent of another taxpayer. In addition, you can claim exemptions for your dependents who meet certain tests. Residents of Mexico, Canada, or nationals of the United States must use the same rules as U.S. citizens to determine who is a dependent and for which dependents exemptions can be claimed. See Publication 501 for these rules. Pursuant to tax treaties certain residents of South Korea and certain students and business apprentices from India may be able to claim exemptions for their spouse and dependents. Refer to IRS Publication 519 and to Revenue Procedure 93-20 for details.

They can't until they see the finding, not he said she said....

Do you happened to have a copy of the finding? Not a bad idea to share the auditors position as to why the 15K as added, there has to be an explanation. I know once you post it, others can help you. MAS

The only way it will become a problem if the husband and wife were both self-employed, if not the employer always reports to SSA the correct figure, the IRS probably hasn't catch it since the combined wages match.

"The taxpayer did not file a 2010 tax return, because he had no income. He was in school full time." This has me scratching my head, he is improving his job skills without a job? So in 2011 he became employed and decided to use his MBA for a job he had just started?

read it this morning http://bucks.blogs.nytimes.com/2010/01/20/when-you-can-deduct-the-cost-of-your-mba/

If I am reading your post correctly, did your client represent himself at the beginning? Might of put his foot in his mouth as they say, anyway, FYI you don't need to wait for the POA to be processed, all you have to do is contact the auditor and tell him/her you are now representing the client and fax over the POA, they will forward a copy to appropriated department and in the mean time they can talk to you. MAS

I would insist in recreating the books, bank statements, check and deposit details can be requested from the bank . If your client resists you must insist.

Many years ago I was assigned a CAF# because I was calling the IRS too much on behalf of my clients

I will take a wild guess and say its Window 7 Home Edition