ILLMAS

http://www.aicpa.org/publications/taxadviser/2014/may/pages/clinic-story-01.aspx

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1040NR (Rental Property) TP is behind two years filing his tax return (2012 & 2013), basically he has not filed by the due date (including extensions of time), what are the chances they will accept the election? Or should he just wait until he files his 2014 and make the election timely?

I wished some of you would of heard her talk at the IRS nationwide tax forum, she reminds me of the judge that sued the dry cleaners for $54M for losing his pants.

Well it's that easy number one, my recommendation is for him to search for a fill-in PFS online and use it when he needs it.

I really hate recommending Quickbooks online, it makes it harder for accountants to work on the online version, but if you are not going to touch it, I would say QB online would be good for them or even Quickens (don't know if they have an online version).

Do you mean like a write-up program or an accounting software that is cloud base?

Try this, this use to work for 2012, haven't tried in 2013: Highlight client/mark client, then go to return manager, return, scroll down to re-download forms for mark return.

Many labor attorneys are encouraging businesses to start following the non-discrimination rule even if it's not into affect.

I am holding off on installing it, I really don't see any use for it now, I would love to dive in the ACA forms like most

Scenario I Let's say a business had an group plan that was initiated before March 23, 2010 (grandfathered for ACA purpose) and in mid-year 2014, they decided to drop the plan and let each employee get insurance on their own. For accounting purposes, how would the first half of insurance expense be reported on the books? Scenario II Let's say a business had an group plan that was initiated after March 23, 2010 (not considered grandfathered for ACA purpose) and in mid-year 2014, they decided to drop the plan and let each employee get insurance on their own. For accounting purposes, how would the first half of insurance expense be reported on the books? In both scenario, the business has 10, 6 participate and the rest have insurance through their spouse.

I hope this helps you out, I have done some extensive research for one of my client: For a plan to be considered non-discriminatory with respect to eligibility, it must pass one of two numerical “coverage” tests. The two tests are: (1) 70% of all employees are covered under the plan, or (2) the plan covers at least 80% of eligible employees and 70% of all employees are eligible for coverage. If the employer fails either of the above tests, a plan will be considered as providing discriminatory benefits. Some employees can be excluded from the eligibility tests. They include: •Employees with less than three years of service at the beginning of the plan year; •Employees who are younger than age 25 at the beginning of the plan year; •Part-time or seasonal employees; •Employees who are covered under a collective bargaining agreement; and •Nonresident aliens who receive no income from a U.S. source.

Number one, your client does not fall under ACA, however he does have to follow PPACA as a result of ACA.

So there is no need to register then, just use the self selected PIN?

Go to return, duplicate return, then open the new return. Or try this: Instructions (Windows 7) 1. Close ATX 2013 2. Browse to the following location C:ProgramDataCCH Small Firm ServicesATX2013 3. Select the Assets folder and press Delete 4. Open ATX 2013 5. Update forms

For the past 7+ years I have had my payroll clients mail out the quarterly returns to the appropriate department, in 2015 I want to give ATX payroll efile a try, can someone who uses it let me how it works? Do you fill-in the form and just efile it every quarter? Or I use QB to prepare payroll, which one would be better to efile cleint's forms? Thanks

The IRS has finally put an ACA information center for Tax Pros; http://www.irs.gov/Tax-Professionals/ACA-Information-Center-for-Tax-Professionals

If you can deal at an agent level (preferably the same agent) do it, but if they ask you to mail to the general address, this could result in late filing penalties and it will take a lot of your time to resolve it. Are you billing your client for all this back and forth with the IRS?

Any business that has a professional license is exempt from this disclosure, CPA, attorneys, EA etc.... Big boxes have to follow the same procedure, the city does routine check up, I had a city inspector stop by my office this past season, first time he stopped by I was working out of the office, he was supposed to stop by following the day at a certain time and never showed up. He finally stopped by 3-4 weeks later to review my disclosure. The city imposed this ordinance to curb tax preparers that prey on senior citizens or businesses that charge a fee based on the refund. Our city also requires for you to have a city business license as a tax preparer service or if you have a general business license, they require for your to update your license and include tax preparer service, another fine if you don't.

I think this is going to be a good topic, this what I have to put up with in my city: (2) a "Disclosure Form," which describes and lists the tax preparer's cost of services in compliance with ordinance 4-44-030. A Disclosure Form must contain the following information: (A) a written list, description, and price of the tax preparation service offered by the tax preparer; (B ) a written list, description, and price of all miscellaneous fees associated with tax preparation services, including filing fees and processing fees; © a written estimate of the total charge to the consumer based upon the tax preparation services the consumer has selected to purchase; (D) a written estimate of the period of time the consumer can reasonably expect to wait for his tax refund; and (E) a certification from the tax preparer indicating that the tax preparer has reviewed each disclosure with the consumer and that the tax preparer has verbally reviewed all the required disclosures with the consumer.

Anyone download it yet?

Do you know if they were sent to Lois Lerner office? Again, this is a very strange case, have you verified the FEIN used on the tax returns matches the 941's W-2's etc....?

Did your client get a notice of non filing for these years?

Odd but believable, do you have some kind of record that the 1120S were sent out (efile or mail)?

Same happens for payroll taxes, the shareholders are on the hook.