Lion EA

I got summaries from CCH, NATP, and Tax-Mam.

My CCH SiteBuilder website includes a basic portal: FileShare. Clients can upload documents to me; I can upload their returns and signature forms to them. Each year, more clients give it a try. You might already have what you need via your tax prep software, email software, website, Adobe, or have modules available at more modest cost for modest needs. Ask them what they offer.

Someone will jump in here to tell me if I am wrong. The capital loss belongs to the husband, if the property was in his name. If the husband passes away, the capital loss is gone. You might want to research if they did commingle the property and created a joint loss, if the wife "owns" any of the capital loss, in case she survives her husband.

Some years back, I had a new client come to me; and in reviewing his prior years returns, I had him explain a Schedule E, page 2, Unreimbursed Partnership Expense that appeared on one year and not others, with no MMLLC line, just the UPE line. He'd had the situation above and called the IRS (back when the IRS answered phone calls). They told him to use Schedule E, page 2, as if the MMLLC was still open, as he would for any UPE. So, he'd done that for that one year the partners personally paid an expense after they closed the LLC. Now, with K-1 matching, that might generate an IRS letter. I haven't had an occasion to look into it. Keep researching to see if you can use that method for your client.

Our local property taxes are due 1 January 2018 (for my town, half; for some towns, one quarter). Except for my clients deep in AMT, most would be paying this month, December 2017. The tax is for property on the rolls as of 1 October 2017. So, is that a tax IMPOSED in 2017 allowed to be deducted on our 2017 income tax returns? What's the definition of Imposed?

I got a letter and found out about the IRS needing to access my credit report, authentication questions when phoning in, etc., all things that made me wait. Not going to get done before New Year's and then not unless the roads are clear and I have time to drive the one-hour one-way trip to an IRS office to prove who I am!

I was getting "technical problem" which was actually that they could not verify my SSN with a credit agency because of my freezes. I'm reluctant to unfreeze, but it is temporary until someone -- hopefully the IRS and no one else -- checks or you can set a time limit. Still not going to do it until other things are cleared up. For instance, I always fail those knowledge based questions, because a lot of my ex's and his second wife's info is mixed in with mine. I don't know what street they lived on in Syracuse, and they're not about to tell me! (My kid was way too young to remember.) Our Mastercard changed our address to TX at someone's request and notified Experian who notified all the agencies. We had trouble getting anyone to talk to us, because we couldn't provide them with a "current" address. Eventually, the fraud unit at Elan Bank or where ever the card came from tried to fix the reports, but they didn't change our address back. Our new cards went to the thief in TX !! We are having all that trouble with our accounts frozen. I do not want to unfreeze, even for a minute.

Oh, yeah, and IE. I'm going to pull the covers over my head and get some sleep.

My cell with AT&T in my name since the beginning won't work for the IRS: IRS says AT&T tells them it is NOT in my name; AT&T says it IS in my name. Until that is solved, I refuse to unfreeze my credit report, which is also a requirement to register. And, I have no Forms W-2 nor 1099-MISC in my social security number, also a requirement. (I am not an employee but do have 1099s in my EIN, not SSN, and one that should be in my SSN for farm rent, but he makes a different typo every year!) I will have to drive an hour to an IRS office with lots of ID to prove who I am. Maybe in January. Or, maybe never. This takes entirely too much time.

HTKO is not a fake country name, no matter who tweets it. HTKO stands for High Tax Kick Out. I don't use ATX, so cannot help you with the flow.

Good catch, Catherine. Yes, Jack is growing his business. Oh, my gosh, TAG is my age! I'm feeling old.

There are brokers who do this for a living, such as Accounting Practice Sales Lori Newcomer, CPA, & Tim Price, CPA 888-553-1040 [email protected] But, some on this board can give you their personal experiences. Also, network through all your professional affiliations for contacts.

I use my semi-retired hubby for pick-ups and deliveries. He schmoozes my clients when I'm too busy. I have a large mail slot in my front door. And, FileShare on my website.

I subscribe to all the relevant (to my practice) IRS e-newsletters, David & Mary Mellem, everything relevant from NATP, NAEA, CCH, and others.

QB for clients in QB, including Forms W-2, 1099, plus quarterly and annual filings. If not in QB, I also use one of those online programs if just a few to type in.

Happy Thanksgiving!

License is free. For the signatures needing the knowledge-base verification, Form 8879 for example, I think it's $2 or $3. If not needing verification, maybe your engagement letter, then $1 or so. My memory is fried about now, so check the website or your sales rep for the latest per-use fees.

CCH Software News - IRS Individual e-File Production Shutdown/Cut Over Schedule and Disaster Relief Filing Extension Implications Dear CCH ProSystem fx Customer: The IRS announced in a QuickAlert on Tuesday, October 31, 2017, that their shutdown/cut over for federal and state Individual Tax returns will begin on Saturday, November 18, 2017, starting at 11:59 PM EST. This shutdown/cut over allows the IRS to perform maintenance on their e-Filing system to prepare for the upcoming 2017 tax year filing season. The shutdown/cut over will last until the opening day of the 2017 tax year filing season early in 2018 when you will be able to file 2017 returns and resume e-Filing returns for tax years 2015 and 2016. Timeframes for Your Planning In this announcement, the IRS requires CCH, as a transmitter, to stop sending submissions at 10:00 PM EST, therefore, you must release your returns so they are in Transmitted status no later than 9:59 PM EST on Saturday, November 18, 2017. However, to ensure all federal, state, and city returns are in transmitted status by the deadline, you should release returns as early in the day as possible. We recommend you release your returns no later than 1:00 PM EST. This is particularly important for the following scenarios: States and cities linked to the Federal return. We hold the state/city in status Ready to transmit - Validation Complete until the Federal return is accepted. The acceptance of the Federal return could occur several hours after you release the Federal return. States and cities acknowledgements of returns. States/cities are required to return acknowledgements by 11:30 PM EST, and a higher volume of returns at the 10:00 PM EST transmitter deadline could create a return processing back-log for the state/city jeopardizing the return of acknowledgements to the transmitter. Should a state not acknowledge a return by the deadline, you will not receive the acknowledgement until after the 2017 tax year filing season opens in early 2018, with the exception of 2014 return acknowledgements which will not be posted to eFile Status. What to Expect As previously announced in the CCH Software News issued on Monday, October 2, 2017, e-Filing allows federal returns and many state/city returns to be filed past the October 16, 2017, extended filing deadline. However, no Individual (federal or state) returns can be e-Filed during the shutdown period, except for California and Texas which we submit directly to the state. When the IRS opens for the 2017 tax year filing season, all federal returns and the state and city returns listed in our October 2, 2017, CCH Software News will be allowed to be electronically filed again. If you upload and release a return during the shutdown period, we will place the return in Paper Filing Required status. If you upload and hold a return calculated in 2017 during the shutdown period and release the return without recalculating in 2018 after the IRS opens for the new filing season, we will move your return into Stopped: Please Re-process on Latest Release. The following states/cities will stop accepting returns for 2016 when the shutdown occurs: Kentucky Michigan Cities filed on the Common Form Ohio Cities not filed on Form 37 City of Philadelphia Rhode Island Only 2017 returns will be allowed by the states/cities listed above when the season opens in 2018. Important This shutdown will also affect taxpayers who received a disaster relief extension to file. If the disaster extended due date falls within this shutdown time frame, you must do one of the following: Submit the returns electronically before the shutdown begins; or Hold the returns for export and release after the IRS reopens in January; or File them on paper after the shutdown. If filed on paper, applicable opt-out documentation may be necessary. Please consult the taxing authority guidelines on how to opt-out of electronic filing. Find answers to your questions in our Knowledge Base. Please feel free to Contact Us online if you have any questions. Sincerely, Wolters Kluwer If this email was forwarded to you, and you would like to subscribe to CCH Software News announcements, subscribe here. © CCH Incorporated and its affiliates. All rights reserved.

CCH e-Sign.

I vaguely remember an instructor saying the forms are stockpiled in a warehouse someplace (Ogden?) and have never been seen by human eyes.

I can never pass those knowledge-based tests, because all the questions end up being about my ex-husband and his second wife. I don't know what bank has their mortgage or what street they lived on in Syracuse. I opened a UPS account using my current husband's name, because I knew what street his mother lived on ten years ago and other info about him and his family; have notices come to my email address. But, I can't open an e-Services account in my husband's name, for instance. I had to do one of the credit freezes via snail mail, sending in copies of DL, utility bills, etc., to prove who I am, because I couldn't answer the questions. And, in November, I'll go to a SS office (not all that near) with all my ID to prove who I am in person -- required to be in person, because I failed the questions -- so I can open up an online MySSA account. Very frustrating.

I had some crowns replace some teeth that had been bonded but were decaying underneath with nothing to put new bonding or fillings on. Now, days/week or so later, my jaw starts aching and is warm. Last time I had a crown, infection got trapped inside and they had to remove temporary and do a root canal. This time, I already have the permanent crowns on. I have five more returns including my own, granddaughter's 2nd birthday party in PA, point person for one-day tax seminar next week and then fly to SF for a week of tax classes. I'm not back until November. And, I need to do laundry, pack, work with speaker/airport transportation/proofread books/etc. for local seminar. A year ago I bought every ibuprofen in the hotel gift shop and spent all day in classes holding a cold water bottle against my face and all night sleeping on a bag of ice. I am not having fun.

What accounting software do you use to keep your firm's books? Perhaps it has what you need or has a module available. It might even have ways to collect payments. I invoice within ProSystem fx, because most of what I do is tax returns. But, I do have Intuit process credit card payments, dropping the info into QB and the payments into my bank. You have lots of options, such as PayPal, for receiving the payments. You're really looking for invoicing all in one place so you can have aging reports at your fingertips, etc., right?

QB allows online payments.

I didn't have that situation with any of my clients, but I do remember some talk.... If you have any doubts about the year, ask your client for his last pay stub or look on his 2015 return to see if the exact amount appeared.