ILLMAS

The actual extension should be sufficient, if you e-filed the the extension I would write the day it was accepted by the IRS on top of the form. Or if it was mailed, just write down the day it was mailed. MAS

I did check it, and this morning I tried re-registering however it give me an error message saying I have already registered under that email address I used. Later on today I will register using another email I have. Thanks

Almost 24hrs later and I still haven't received my temp password via email????

I only got as far was registering for a user name, I haven't recieved my temporary password yet.

Never mind, I found it. http://www.irs.gov/taxpros/article/0,,id=210909,00.html

Please post link for others. Thanks

Maybe he can call and request a transcript for the year, I would think the IRS would have something on file regarding the K-1. MAS

I've been buying the proadvisor package for past few years, actually today QB 2011 came in. I buy it more for the enhanced payroll service, I am able to do all payroll quarterly/year-end forms, no need to use another software. My accounting file is still in the 2007 version. Another great benefit is tech support, this come in handy for clients that have unstable PC.

I dislike quicken (for business use, ok for personal use) because it doesn't give you a balance sheet or trial balance, makes what is supposed to be a very simple tax return into a complex one!!!

I was approach by an ADP sales person and everything seems fine with the service, but she was not able to answer my question. Are quarterly filings included in the price? So if anyone knows, please let me know. Thanks

Client wants to include his child earned income on his tax return so that the IRS can just deduct whatever is owed from his refund, I did some research and it seems the child is responsible for his/her return and any penalties and interest. I need to get back to the client and I just wanted to confirm it's not possible, only if there were some investments, then those could be included on the parents tax return. From Pub 929 Responsibility for Child’s Child’s earnings. For federal income tax purposes, the Return income a child receives for his or her personal services (labor) is the child’s, even if, under state law, the parent is Generally, the child is responsible for filing his or her own entitled to and receives that income. tax return and for paying any tax, penalties, or interest on If the child does not pay the tax due on this income, the that return. If a child cannot file his or her own return for any parent may be liable for the tax. reason, such as age, the child’s parent or guardian is responsible for filing a return on his or her behalf.

Today on Yahoo News http://www.nydailynews.com/ny_local/2010/08/24/2010-08-24_thought_you_had_irs_problems_failed_daytrader_nailed_with_172m_bill.html#ixzz0xcaSNfyW

1+ on going with XP Pro, I think it will be a while before manufacturers update any driver for printer and other gadgets. I just did a clean install of windows 7 on my father laptop and I was very surprised how much hard drive space it took, so keep in mind to get a large enough hard drive and ram on new pc. Now a days you can find refurbished Dell workstations for under $300 with warranty and xp pro installed.

+1

Hello to everyone, I have a TP that because of his credit he could not buy a home under his name, so his parents put the mortgage under their name. TP has been making payments and takes the deduction on Sch A., now he recieved a letter disallowing the deduction because those amounts on Form 1098 were never reported to the IRS under his name. I was thinking of writing a letter explaining the reason and who was making the payments and providing copies of check showing it is coming out of the TP account to pay for the mortgage, is this sufiecient evidence or should I include something else, FYI parents do not take the deduction. Thanks

Yes there is quickbooks for Mac , I believe she can convert her quicken file to QB.

Can the IRS use the US Postal to track where a TP recieves mail? A client of mine is asking, but I don't know. Thanks

I have a client that the IRS indirectly suggested to report as a sole-propiertor because of the way they were handling cash. Basically, they were not depositing all the cash they received and paid about 80% of their vendors cash, this was suggested about 10 years ago, now the state is questioning why they continue to keep the Corp active, but haven't filed corp tax returns in the past 10 years. To this day, they still continue to operate in the same manner, and the client needs to explain to the state why? The problem I see in this is that the IRS agent suggested, not recommended or put in writing if the client didn't change the way they handled cash, has anyone else ever encounter a situation like this before?

I don't think it should be a problem at all correcting it, just make sure you use the most recent figures (IRS corrected figures) as orginally filed. Then you will need to prepare two 1040X, one for each taxpayer as single, this can look a little tricky because you are going to be using "as orginally filed (IRS corrected)" figures for each taxpayer, but once you report "as corrected" for each taxpayer, everything should balance out and there is a chance they will owe money ontop of what they paid already. I see this way, the changes to 2106 deductions was a problem that was resolved already, the only thing you have to do is allocated the expenses to the proper taxpayer. I would do this, I would recreated the MFJ tax return with the IRS figures, then I would prepare two single returns and just make sure 2106 figures match with the IRS, hopefully it's only one of the taxpayer that has 2106 expenses, would make it a lot easier. MAS

Greeting, I have a NFP client, and just recently I notice that the executive director cobra payment is being paid by the agency? I want to ask the question here first before asking the exec. director, shouldn't he have to pay it out his pocket or take the health insurance offered by the agency? Also, since the angency is paying for an employee cobra, should that be part of his compensation too? Thanks

I think your scenario is right on the money as they say, client employees are not on strike, it the machine operator who are on strike. My client delivers (trucking businsess) asphalt and the machine operator laid it down, so there is no work for the employees because of the strike, so now I believe they are able to go and cliam unemployment. Thanks

Just to confirm, no employee can go on unemployment if there is a union strike, the union will pay a small amount to the employeees. Thanks

A new client of mine came to amend a couple of years of tax return, because they never reported her husband W-2 wages. It turns out the husband has an ITIN, but uses a SS# for work. An immigration attorney suggested the returns be corrected to reflect the wages. I am not going to mention any names, but one of the big seasonal tax business advice them not to report the W-2, so I am trying to give an explanation as to why the return is being amended. I was thinking something along the line: The tax return is being amended to reflect addition income previously not reported, under SS# XXXXX..... for husband that uses ITIN# XXXXX..... I just want keep it short and to the point, and wondering if they will give him credit for Social Security if they tie the SS# to the ITIN? Thanks MAS

I can't figure how to input the income per books Sch M-1 (bottom of balance sheet page), the only way to input the amount is by over riding it, but would prefer not to. Can some please help me. Thanks ps I do have Sch B, line 6d mark off as "YES"