ILLMAS

Agree, I once calculated a penalty by the state by a few dollars more and the state said they will not refund the extra money to my client. Another client where I prepared a couple years back never received a bill for some years from the IRS, called to find out the status was told if my client hasn't heard back from the IRS it's all good, client was going to setup a payment plan after the IRS had calculated all the fees.

Try offering monthly accounting to them, collect necessary w9, most likely the client won’t want the service but you tell them you are moving into a different direction. Basically the client will fire themselves.

Found this on google: https://www.law.cornell.edu/cfr/text/26/31.3402(g)-1

How did they cash the check? My client was not able to cash the refund check because the spouse is not on the account, but that is the least of their issue, TP is more upset that prior preparer signed electronically on behalf of the spouse.

I amended a 2016 return for a client because the prior preparer prepared it as MFJ, but the spouse was living in another country. The claim was denied because it had to be filed before April 15, 2017, I get that, but my client and I both agree the return was prepared incorrectly and received an extra benefit they are not entitled to, the 2016 IRS refund check was sent in with the amended tax return because it was never cashed. Has anybody here been successful amending a return MFJ to MFS outside of the filing period? Or what do you recommend I do? Thanks

In the late 90's I amended a clients return that was referred to our office by an immigration attorney, they claimed EIC for a couple of years for nephews, cousins, and friends living in Guatemala (all had ITIN). The total they had to return was around $25K, not including penalties and interest and they had no problem paying it back, my jaw drop when they came with cashier checks.

What more can you ask for, having true love and more importantly, the love for sports (sigh). https://www.liveleak.com/view?t=klwVM_1529552051

I would see more business for them, for every tax preparer.

How about having a raffle? I can donate some stuff.

What fee do you charge your clients for NSF?

Sounds awesome, hope you have a great time and post some pictures.

I love how this form is right up our alley, I can probably fill out this form with my eyes closed, but I really doubt employees won't know what to do with it. Has anybody established a fee yet so when the calls start coming in?

I have managed to destroy three Brother 5450dn printer in the last four year, can someone recommend a good printer beside a brother? Thanks

Since we are on the subject of the royals, was it a mistake getting married to a US citizen for tax purposes? I could just see the media riots when she announces she’ll give up her US citizenship to avoid paying taxes in the US

I believe someone here before said, “if another tax preparer can charge X and someone pays for it, so could I”.

1. Client could be undereportinf sales tax. 2. If business is a restuarant, tips are being reported on 1099K, more then likely its not reflect on sales tax. 3. I seen this one before 1099k were issued, client was allowing friend to use the credit card machine to process sales, this stopped when 1099k started. 4. QB was not setup properly, seen this before. 5. Do a cash analysis. 6. I would also look at purchases and inventory and use the markup % to arrive a sales, you’ll be shock to see people continue to make purchases when their sales doesn’t make sense.

I believe the "employee" would have to submit a W-8BEN to employer, employer does not withhold any taxes or issues a 1099 at end of year (supposedly the person doesn't have a SS or ITIN), employee would be solely responsible to report it on his/her Canadian tax return.

Were you successful in collecting the money? I had a client sue a contractor and they won the case because the person never showed up to court, I don't think they collected a penny to this day.

I like sending non paying clients to collections, if they don't pay, it gets reported to their credit and probably they don't care anyway.

This would be awesome for expiring ITIN's numbers.

I really appreciate all the support, at first I was thinking I had to prepare one for each year Also a big thank you to Eric, I just notice all the emoji's I might be making history here by being the first person to post new and improved emoji's

Thanks everyone, I am probably going to send the client back to prior preparer(s) to correct the depreciation for the prior years, but for 2017, can I just use the correct percentage ownership of the building therefore making the 2017 depreciation correct? And also use the accumulated depreciation balance as my starting basis for 2017?

How do I correct rental property that was supposed to be depreciated only 50% from 2003 to 2016? I have a new client and the prior preparers have been taking 100% of the total cost, property was bought with another family member and each is supposed to report 50% of the rental income and expenses? Thanks

I once prepared a tax return for a OTR trucker, was home 2-3 times a month for a few days and back to driving, gross income was about +200K, actual expensive were like +150K a year. I had to ask him if all this driving was worth it, being away from his family and only pocketing 1/4 of his earnings.

I was supposed to meet with other preparer friends for drinks, my daughter calls me that she needs shoes for our vacation (starts today) and I had to cancel on them. But I did have a drink and my daughter had ice cream.