ILLMAS

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

Apparently there is a video on how to learn how to dance brought to by your friends at ........ http://www.cnn.com/video/?/video/bestoftv/2013/06/03/exp-irs-dance-video-bash.cnn#/video/bestoftv/2013/06/03/exp-irs-dance-video-bash.cnn

Well I will share something I found out a couple of years ago when it comes to "Reasonable Cause", whatever letter you submit, an agent enters the reason and a computer either accepts or rejects it. I called on behalf of client of mine that fell ill and was hospitalized for a while, the agent was entering the information into their system and she told me to hold while the computer generated a response, amazed, I asked her, so nobody reads the letter, she was like no, we only enter key information like an illness, specific dates etc.... from the letter and the computer decides. But she also mention having the "key words" doesn't always gets an acceptance if the tax payer is always late on filing their returns, the computer will take that into account.

Aren't CP notices computer generated when there is a mismatch of information?

Changing the subject for a bit, anyone else excited for the Mayweather vs Alvarez fight?

When you say monitor are you referring recent technology like an LED monitor? Or what type of monitor are you dealing with? Check out this video to learn how to change screen resolution. http://youtu.be/C7wEkl9sdQo

Is there a way to e-file an 1120 without having the payment debited or EFTPS? I get a rejection because of the payment date, I tried making the payment 5 or 10 days in advance but still gets rejected, now I just want to e-file and have the client mail out the payment. What I am doing wrong? Thanks MAS

Correct the operating agreement states differently, TP will be advice to take a look at the operating agreement. Thanks everyone for your input very much appreciated, all good points.

TP is the father of the kids, he runs the show pretty much, kids are not involved at all and don't have passive income to offset r/e losses anyway. TP 100% manages the property, negotiates leases, pays the bills, is 100% responsible for the loan etc... and makes all decisions.

Good point!!! Thanks

TP along with his kids own a rental property in a partnership, when the property was orginally purchases each person put equal share of captial, every year the expenses exceed the income and the TP always puts in money out his pocket to cover expenses. At the end of the year, everyone gets a K-1 with a loss, TP wants to change the percentage of profit/loss, because he sold another property in 2012 that has a gain, his kids really don't benefit from the loss like he would. Would there be an issue changing the profit/loss percentage and leaving the capital as is? Thanks MAS

I see you already have hose running to street, how about just adding a vacuum to it, all your client has to do is place their documents in a tube and put it through the hose, like the banks use to do it.

Scanner sucks, go with for the Fujitsu s1500, always gets good reviews.

I have done a few in IL, they basically request 941 and SUI/SUTA reports for a given period. From the info they will determine if employees worked less or more from the prior audit, then they either refund the access paid or send the company a bill if under paid, they also take into account subcontractors, so you need to provide 1099s too. Besides providing payroll info, they will ask you questions like this: - The policy period is 02/20/2012 through 02/20/2013. You may go to the nearest month or quarter end if you prefer, as long as you provide a full 12 months. - Please provide a brief description of your company’s operations. RECORDS NEEDED: - Please provide a list of all employees for the policy period, showing gross pay and overtime pay for each employee. Note: If you can provide separate amounts for overtime, we can make a deduction for them. - Please indicate job duties for each employee. For office employees, please indicate specific duties such as “receptionist” or “accounting” rather than just “office”. - Please indicate which employees are corporate officers. - Please provide copies of Federal 941 quarterly returns and State UC tax returns for the four quarters of 2012.

TP fell behind a commercial mortgage, since the property taxes were being escrowed, the bank paid them anyway. TP is working with the bank to add the property taxes paid on his behalf and bank charges to the mortgage, would he be able to deduct them if the bank agrees to tack them to his existing mortgage?

"Pres. Clinton the White water controversy and Monica Lewinsky affair" At least President Clinton was honest, when he was asked by a reporter if Monica Lewinsky was lying, he responded by saying, no she was kneeling.

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