ILLMAS

I agree 100%, TP has been inform to contact the IRS and the collections company.

Now that the IRS has outsourced to a third party collections agency, today was the first time I have ever seen a letter from one of the companies, but it's kind of weird since the TP is on a payment plan

You have no obligations of giving them your notes, fire them if they disrespect you.

FYI not trying to be an A-hole here

Just imagine if someone from your office gets COVID and you are forced to shutdown your entire office and clients have no sympathy and want there information done now.

I did a quick amortization calculation 2% vs 2.5% on a 30yr loan, for simplicity I used $100K as the principal amount: $33,063 of interest at 2%, $42,243 at 2.5%. If I were to add $3K to the 100K to finance the closing cost, financing $103K you would pay $993 more in interest totaling $34,056.

A good start is reviewing enrolled agent exam part 2 study materials, you might find a similar example in there.

The only way to find out is to compare the good faith estimate with the final HUD statement, also it would be a good idea to shop around, he might get a 2% plus closing fees vs 2.5% with no closing fees, .5% difference makes a huge differences.

So the 1040X was never processed?

Have you tried installing the program directly to the computer? I was able to install 2019 on a stand alone computer and I get an error message every time I open the program, but if you click okay, it lets you open it. Then you can try mapping it to the network drive.

ATX efile has left the building, I thought it was going to be the 21st.

Has anybody considered going solar power? From what I understand, it uses up the batteries first then the electricity kicks in.

Virtual currency now front page 1 and line 30 for reconciling the credit. https://www.irs.gov/pub/irs-dft/f1040--dft.pdf

I attended a webinar this past Saturday and the instructor mentioned that there is a possibility they might extend the filing deadline again and I have the same feeling to. But he shared something that made me smile, at another tax seminar in a state that doesn’t have all these restrictions, an attendee shared his story on how he was going to profit from people who were going to wait until 7-15-20. The tax preparer sent a letter to all his client informing them if they were going to come in after 4-15-20 he was going to charge a $250 fee for ruining his summer and taking time away from his family, unfortunately he made no money because all his clients brought in their information before 4-15 and he was able to enjoy his summer with his family.

Has anybody called and see the status of the 2016?

Is it the same as A-Plus which you had recommended a couple of years ago?

Sign up for Enterprise membership with QB, you’ll get access to prior year QB, I renew it every year for two reason, one a client upgrades to the latest version, secondly I prepare payroll and the subscription is included. This year price is $1,175.

I think sometimes it is just more work for the loan underwriter and they make a big deal, I have gone through four loans myself in the last 10 years and something always comes up. One year, they wanted a CPA letter for my personal tax return which I prepare myself Have your client send them the death certificate and to remove the deceased spouse with the refiance.

FYI IRS efax is down today.

Have you looked into Reddit, Facebook or twitch?

I am currently representing a client and the agent on the case has been working from home for a while now, pretty much the whole federal building is working from home. Let’s give them a break and be patient.

I still remember when QB had version 1, 2, 3 etc... and in DOS

Sometimes people want to remain anonymous now with social media.

Agree 100% with you, just in this fictitious scenario the owner is adamant on going this route if the money arrives on time or not.

Scenario Single owner corporate business is expected to receive a customer payment of $150K before the year ends. Owner wants to start drawing a monthly salary starting this month and use up the $150 in payroll and taxes for themselves before the year ends. There is enough money in the bank account to cover only the payroll taxes for Oct, Nov and Dec however not enough money to cover each month payroll checks. What potential problems do you use in the scenario above? Scenario II The money doesn’t arrive until 2021, corporate book balance is like negative > $150k What problems do you see?