ILLMAS

Thanks, today I had no problem getting in, we restarted everything and it works now.

Today I am getting a run-time error on one of the workstation and it doesn't allow me to open ATX. The only way I am able to open ATX is if I go to the ATX2008 folder and click on the icon. The ATX folder is on the server and not the workstation, I am just afraid something might get screwed up. Has anyone encountered this problem?

I checked the rules and it seems they do qualify because they do meet the five tests [iRC 152©]: 1. Relationship 2. Age 3. Residency 4. Support 5. Tie-breaker test for qualifying child of more than one person

Child Tax Credit Question: Can I claim the child tax credit for a child who has an ITIN, rather than a social security number? Answer: Yes, you can claim the child tax credit for a child with an ITIN (individual tax identification number) if you otherwise qualify. child must live with the worker for more than half the year in the U.S. and must be either a citizen or a resident alien. "Qualifying children" include: sons, daughters, stepchildren, grandchildren, and adopted children So if the child has a ITIN number but is not a US Citizen or a resident alien, they don't qualify?

Did anyone else recieve a marketing kit from CCH? I received one last week but I think it was sent to me in error, first of all because I am not offering any type of loans or audit shield. I signed up for fee collect, maybe that is why I got kit, but nothing relates to the fee collect. In case anyone is wondering what came in the kit, it's a couple of posters (English & Spanish) offering refund loans and audit shield to your clients. The only thing I haven't recieved to this day is the 1040 Express Answer for 2009? I don't remember if it was included with the ATX Max package I bought, but last year I did get it.

Only one of my IL efile has been accepted, the rest show IRS Cleared?? I update the acknowledgment tomorrow and see what happens.

In no way we want to blame the tax preparer, that is not main issue or focus of the IRS audit in the first place, it just make me wonder if the real estate co. is reporting the fees for tax preparation? LOL it seem you already know this client, he loves blaming the accountants, his employees and even his customer for not bringing in business. I am glad I am not the person in charge of the account, I work under the CPA and I was contracted to gather the IRS auditor requests. The audit is focused on solely the corporation, and one of the request was copies of the shareholder income tax return (wanted to compare wages and interest paid to the shareholder by the corporation), there are 3 shareholder and the CPA prepares the tax return for 2 only because 3rd one doesn't cooperate and the CPA gives up.

One client that I work with is getting audited by the IRS, the IRS requested copies of the shareholder's tax return and for one of the shareholder went to get his return done at a real estate company that does taxes during the season. I notice that there is no info on the business that prepared the return, it just reads "Self-Prepared" and but there is a cover letter that has the business information. Should I let the IRS auditor pick this up or should I tell him that the shareholder did pay to get his return done by this business? In my years of tax prepation, I have seen a couple of these situitions where clients go to a photo studio, hair salon, insurance co. etc..., they pay and there tax return are "Self-Prepared".

What do other tax preparers do that bothers you? I have a couple, but this one is the worst: They give their clients a print out of their tax return that looks like a book, all these schedules, forms, etc... for a simple 1040. Talk about not being eco-friendly, but it's nothing more than a scam, making people think their tax return was complicated or what ever to charge a higher fee.

Chicago, IL 1. Ex Gov. Blagojevich 2. Drew Peterson 3. Steve Bartman (Fan who caught the ball at a Cubs game) 4. Ex Gov. Ryan 5. Passing your political seat to your family member or trying to sell one (had to add this one) I can't think of anything else Chicago is famous for :scratch_head:

You are correct about ATX does not offering the loans :-) I understand your concern about all the misleading advertisment, but look at what is the company's target market, many tax payers not understand that they are getting a loan that includes interested, fees etc.... If they only knew that if they efile they can get all there qualified refund back.

I believe you can offer those type of anticipated loans with ATX, and the fees are way out there too. I have always wonder what are HRB, Jackson Hewitt and Instant Tax Services (new around Chicago) fees. Does anybody have an idea?

Ok thanks

Hello to all, would anyone know if there is a fee to setup fee collect through ATX or a monthly fee if it's not used. Thanks

Does anybody run their ATX on a virtual network? If so, what do you use? Real VNC Logmein Gotomypc VPN or remote desktop The reason why I am asking is becuase I would like to work at home somedays and I would like for my database to be at the office, I have used all of the above before, however I have not been successful in printing outside of the office. I have only been successful with VPN setup that my client had, so I know a VPN would work. So I am interested in knowing what are other options. Thanks,

Thanks, but a lot clients say one thing and do another thing.

Hello to all, I have a client that formed a corporation in 2008 and the corporation didn't go as planned (No employees, very little income, and a loss at the end of 2008). Now he wants to change to a S-Corp., I know the IRS might a accept a late election, but what would be a valid reason? It's not like amending a tax return, I am having trouble coming up with a reason, even though the reason is to reduce his taxable income (1040) and avoid double taxation. Any suggestions?

I tried to rollover the preparer information from 2007, however I don't see it. Is there another way of doing this, also for the e-file, do I need to entered it manually for 2008? Thanks

I am not a tech, but have you checked for hidden files? Here is the step to see hidden files: To enable the viewing of Hidden files follow these steps: Close all programs so that you are at your desktop. Double-click on the My Computer icon. Select the Tools menu and click Folder Options. After the new window appears select the View tab. Put a checkmark in the checkbox labeled Display the contents of system folders. Under the Hidden files and folders section select the radio button labeled Show hidden files and folders. Remove the checkmark from the checkbox labeled Hide file extensions for known file types. Remove the checkmark from the checkbox labeled Hide protected operating system files. Press the Apply button and then the OK button and shutdown My Computer. Now your computer is configured to show all hidden files.

I am back from the Holiday break and I still have a profit for 2008!!! There would not been anyway I could of zero out, I really don't have that many operating expenses. I am self-employed and opened a SEP-IRA plan on 12/31/08, I just need to catch up with my accounting to determine the contribution.

Hello to all, I paid and pre-paid as any items as I could, but I still have a small profit, I am thinking of either opening an SEP or IRA plan, can someone advice on what's best? I have a 401K plan, which I haven't contributed in almost a year. Thanks

unless you are a lawyer I would refer them to one. taxbilly No, I am not but I have mention to them it's best if an attorney creates the partnership and puts something in writing. I may have misunderstood the question. Is your client wanting to dissolve his corporation and then form a partnership with two other people? Yes, that correct. He'd distribute the corp assets at FMV. Check the secretary of state web site for dissolution procedures. Since it's a fairy new corp, it has no assets at this moment He should consult a lawyer for organizational paperwork for a partnership, especially an operating agreement covering things like how to dissolve or procedures if one partner wants to withdraw or retire. As long as he's going to use a lawyer anyway, he should discuss the dissolution of the corporation as well as the formation of the partnership. Partners take guaranteed payments for services to the partnership. Remaining profits are divided per the partnership agreement on the K-1s. That operating agreement will be very important. I agree 100%, however it seems they rather do the legal documents themselve. I told them I would not get involved with any paper work, the best I could do is disolve the corp. Since you did not put your location into your profile, I don't know where you are located. But it depends on when the corp was started as to whether it's too late to elect 1120 S status, which is probably how they should go. Given the new easy 'late election' rules, it may be possible. The corp is Illinois, the corp was formed in June 2008, I did mention to them it's an option elect to become a 1120S vs creating a partnership, but would still require for an attorney to put something together for them. Either they could form a partnership with the corp as a partner, or they could buy into the corp, but either way, if they are a corp or an S corp, they need to do payroll for anyone who works in the business. That's another option I see "partnership with the corp as a partner", I will definetly let them know, as for the payroll that's another story, I don't know in what way for them to understand they cannot just take money from the business. Thanks everyone

Hello, a new client of mine recently incorporated (1120C), and now 2 other individual want to join him as partners. They really don't want to dissolve the corporation, because they want to keep the same name and/or re-apply for a city license again. From what I know each wants to own 33.33% of the business, however I am trying to figure out if a legal document can be created to include the other 2 partners as owners of the 1120C. This is where I see a major problem, they are not going to have payroll, each partner will manage the shop on different days, so no need for employees, however they want to distribute the profit at the end of the month to each partner, I mention to them it was not possible under a corporation just to take out money. If they change the status from a 1120C to 1120S, instead of a partnership, would the work better? Thanks

Hello, does anybody use their bank to collect client fees? This coming tax year I would like to use my bank ACH Collections to collect fees from clients that don't pay for their tax return when they pick them up, I spend too much time sending out statements, reminders and calling them. My bank offers ACH collections for $25 a month for 25 transactions and .25 cents for additional, now the only thing is how to notify my clients about this new payment plan. Most of my slow paying costumers file electronically, so I am thinking of them signing a paper giving me permission to electronically collect my fees the day thier direct deposit goes into thier account or not filing it electronically until the return is paid. I hate to do this to my clients but I need to pay to maintain an office, operating expenses and then I come last If someone knows of an option with ATX to collect fees sooner, I would appreciated if you can let me know how to. Thanks

I have a client who needs to amend a couple of years of his tax returns for immigration purposes, in 2001 he had his tax return amended to include his 2 sons. He had orignally not included the sons, then they amended his return to include both of them. Now I have to amended again to remove the 2 sons. I would just use the last amended return as the most recently filed or this is imposible to amended the same return more then once? Thanks