ILLMAS

TP: Last year you gave me a discount, are going to give to me this year? Me: No, it will be the same fee as last year just without the discount. TP: Ok then I will look for someone else then. Me: Good and thank you for calling. I would of gladly said yes if this was a any other TP, but he takes so much of my time, calls to tell me I did something wrong because his coworker deducted something and I didn't, why can't he deduct improvements to his principle residence etc..... Honestly I feel relieved, and I really hoping he doesn't return back ;)

To make things worst now you have to file a his and hers POA (Form 2848) :(

I know for fact, the state of IL, if you are selling resale, wholesale or a tax exempt entity you must have them fill out a certificate of resale and just for assurance request of a copy of their IL business registration certificate. What happens if you fail to get a certificate of resale? The state converts all those sales into taxable and you the owner of the business has to pay the sales tax plus penalties and interest. What happens if a business does not want to provide a certificate of resale? You would have to collect sales tax and report it to the state.

Has anybody suggested for the worker to visit the social security office nearest them? Simple as that.

Well today I had let go of a student that I hired to help me organize my office, and I feel bad I had to do it via a text message . But the funny thing about it, everytime I called to see if she was coming in, she would never answered but she did have time to be texting her friends while she was helping me, maybe this time she'll get my text.

There is something definitely wrong here, it doesn't take that long for them to enter a return into their system, it usually takes 6 to 8 weeks for them to process it. I do see this happening for a state return, I know for a fact the state of IL took 3 months to amend a tax return and another two to issue the refund. I would call them myself and find out whats going on, maybe the client just mailed it a couple weeks ago?

Don't waste your time, if the preparer has a habit of doing this for his/her clients the IRS will pay them a visit . I would be more concern the TP repays any amount they are not entitle to. MAS

I would say there is no need to issue out 1099's because the grant purpose was fulfilled and verified, the only way I would see a home owner getting a 1099 was if they lied about getting the repairs done, made up bogus expenses and just kept the money.

Take a look at this program http://www.fujitsu.com/downloads/COMP/fcpa/scanners/videos/rack2-filer-L/contents/index.html

An IRS agent recommend we use a program called BNA for a client that has thousands of assets in different states, currently they are keeping it on excel and it has worked well for over 15yrs. For my accounting clients I use this software called FAM (Fixed Asset Manager) from Proseries, I still use FAM2000 (back from year 2000) to this day. I don't remember from what year they changed so that you need to buy the next year FAM to transfer to the next year, did I mention FAM is owned by Intuit (see current QB Pro-advisor topic).

This version will be perfect for a business that does not have payroll, staples sometimes offers QB for free, but if you need a payroll subscription it will probably cost twice then what the software costs.

When you say "We renew the Payroll service every year" is that only for your company or it includes your payroll clients too? Thanks MAS

Really $549 + tax??? I just looked at my credit card statement and I was charged $795.81, called my associate and he was charged $716??? I will be giving them a call tomorrow morning and find out whats going on here.

TP employer was sent an IRS wage garnishment for 2006 in 2009, in 2010 he filed his 2007, 2008 and 2009 returns which had a refund due to him. Surprisingly he received 3 refund checks which he returned back to the IRS to apply to his 2006 balance. Fast forward to 2011, IRS claims they never received the returned refund checks and that the checks were never cleared either, just wondering why the IRS didn't apply 2007-2009 refund to his 2006 in the first place? I'm I missing something here? Is the wage garnishment similar to a installment agreement once the TP employer starts sending payments therefore it's independent from other years? Thanks MAS

Have you considered letting the CPA deal with it?

Hello All, I am getting a database error, and technical support is closed for the day, does anybody know how to fix this? Thanks Marco

Next year during tax season probably.

Disney World for me in the next days :)

Just wondering if someone might have a sample letter that I can use as a basis to prepare a letter for my client. Client was going to through a foreclosure and bankruptcy and forgot to mail the return and form 2553 on a timely manner.

I just installed one for one of my clients last week, tested it and didn't like the software the scanner comes with, it's very poor. I also needed a scanner for my office and went ahead and bought the Fujitisu Scansnap s1500 and Rack2-Filer software, I am currently installing it right now. Both scanner do the same thing, scan duplex, scan multi-size papers at once, in color, business cards, receipts etc.... However Rack2-Filer is a virtual filing cabinet, Neatdesk doesn't offer that , check out the demo for Rack2-Filer: http://www.fujitsu.com/downloads/COMP/fcpa/scanners/videos/rack2-filer-L/contents/index.html If you decide to buy the Scansnap s1500, make sure you buy the model that comes with Rack2-Filer software or you can simply buy the software only.

Illinois charges an annual report fee for LLC, corporations and partnerships, the fee is not related to the company's income, only corporation pay based on the paid-in-capital contributions. The fee is to maintain the company active and in good standing, and most importantly to keep exclusivity of the company’s name, usually the state of IL checks to see if the corporation is active during an audit and also banks request a certificate of good standing if you want to open an account. I presume most states work the same and if you don't pay, someone else can take over your company name if it's not trade marked.

Hello one of my client recieved an IRS notice that reads: Form CIV PEN Tax Period Jan. 31, 2003 I have never seen a form like this, just wonder what does CIV PEN mean? Cival Penatly is what I am thinking. Thanks MAS

TP bought a property using their IRA account, however in this case the IRA is the owner of the property and not the TP. TP was telling me that the amount they collect for rent goes straight to repay the IRA, however they are on the hook for expenses. Has anybody else ever counter a case like this that can guide as how to treat the property (Sch E) or is there a special form that needs to be prepared. Thanks MAS

Is anyone else going to be working on their own tax return this week? Hopefully I am not the only one

Have you tried restarting the botht he computer and printer?