ILLMAS

I’m working with a new non-profit client that previously had a rocky relationship with their CPA firm. Unfortunately, they were unable to obtain complete QuickBooks files and reports, leading to an attorney's involvement to retrieve the missing records, but they received only incomplete information. As a result, I had to recreate the books using bank statements. However, when I compared the financials to the 990's from 2017, 2018, and 2020, I found significant discrepancies. Specifically, the income and expenses reported on the 990s appear to be overstated compared to my reconstructed books. I feel confident in the accuracy of my work, but it’s crucial for the financials to align with the returns. Given that the client relied completely on the previous firm and is unaware of these discrepancies, I’m in a bit of a pickle. My question is: Should the 990s be amended to reflect the accurate financials? I’d greatly appreciate any insights or experiences you might have on how to navigate this situation.

TP had foreign income and does not qualify for the foreign income exclusion, where do I report it? TP lived 365 days in the US but had earnings in another country. Thanks

I have a question regarding the amendment of business and personal tax returns due to the Employee Retention Credit (ERC). Specifically, I’m wondering if companies that handle ERC filings typically provide clients with copies of Form 941-X, or if it is the client’s responsibility to prepare and submit these forms for amendments. Thanks

Send me a PM with your email, I can send some material of a training I did three weeks ago.

I have, the fix was to notify the employer the SSA issued a new SS# and to update it on the employees current (keep same wages etc.. under the new SS#) file. This prevents getting two W-2's at the end of the year.

Thanks everyone, I'm now on Splashtop.

With an event starting next week that will make it difficult for me to get to the office, I will need to work from home. Could someone recommend a reliable remote access software that would enable me to connect to my office computer? Thanks

What I wrote back in April, I also use Hiscox.

I was told different, the agent I spoke said this was the number one question they been getting and yes I was covered. I called back in May. I’m only preparing mine.

IRS won’t even notice, they only care for the revenue and expenses, correct useful life and personal use.

Kaspersky

Hello all, Can someone share a template for right of use (lease)? Thanks

Couple moved from DC in late June 2023 to IL, so they are 50/50 DC/IL. On what form do I report 50% of their wages in DC? The moment 100% of their wages are flowing to DC. Thanks

Take a look at this post:

What is your take on preparing BOI's on behalf of your clients? Now that I have a little more free time I decided to call my E&O insurance and was told I would be covered if I were to offer the service to my clients but when speaking to other accountants friends they don't know what to do.

It seems like my PC is 24/7 downloading window updates and has been sluggish for the past weeks, I have to restart/shut down a couple of times a day, can anyone recommend what I should check for? It’s driving me nuts Thanks I can also hear the fan or drive over working.

Is anyone experiencing problems with ProSeries at the moment?

I would say within a year or so.

Agency already received a first time penalty abatement, has anyone been successful in requesting a second one? Thanks

A check

Good point, the IT person I spoke told me something that is probably common sense but one is not aware of it because IT is not my forte, he said me, how would I restore a backup if my office was to burn down? I was like from external drive Hard drive connected to my computer.... Then I got his message.

Is anybody using Google Cloud to backup their computers? I just found out from an IT person, that Google offers inexpensive packages.

You may want to contact a catholic cemetery to how they do it.

Wow it sounds like she has no compassion for tax preparers.

I was not aware of this and someone may correct me if I am wrong, but a couple of years ago a client sent me a Google sheet file via the drive, I clicked on the link and notice I could see all their folders. I called and notified them and mentioned they forgot to give access to that just one file. This why I don’t use it.