Lion EA

Fujitsu, definitely. They're the workhorses of the scanner world. Then the model that fits your needs and budget. FI-5160Z is great, small footprint.

Your shell is a spiral; don't center it in a circle.

OK, I've read every IRS "clarification" about this and all your comments. Think I've got it. It's a lot of money for this client, so wanted to make sure he can put his early April distribution back in within 60 days no matter what he takes out in the future. Hopefully, he has enough sources of funds to get him through until the new job starts. Talked with client and his broker and emailed broker the various IRS links also. Some of the IRS info was old info that was edited after the one-per-year clarification, so reads rather awkwardly and a bit ambiguously. With a lot of money at stake for my client and my rep at stake with the broker, I didn't want to get this wrong. Thank you very much to all of you.

But, you're OUR dufus!

Thank you all. I was remembering something like that but not searching well to find it. Maybe the broker and I can keep him from taking the second distribution or making it smaller. So, he can take one distribution and put it back in 60 days tax free. If he takes a second distribution, it will be taxable. Does a second distribution make his first distribution taxable also?

Client loses job, rolls 401(k) into an IRA, takes a lot of money out of IRA at beginning of April. About to take more out now. Broker/client call me. Client due to receive good severance and also has new job due to start soon, so will be able to replace some or all funds in his IRA. Can he do this twice? 60 days to replace from time of each withdrawal, right?

Thank you, Eric!

Don't know how it works, or doesn't. I obtained the Guide that included the Decision Tree. Sorry.

You can read it without paying, so you can decide what it's worth to download, or if it's worth it. The decision tree is free. Don't know when the Pay What You Want ends.

I like to use a third party for the liability issue, not make payments, not have authority to use their bank account. In fact, I've usually suggested clients go directly to Paychex or whoever. I have one (artist) where I enter the hours every two weeks and download the reports into a notebook for her. But, everything is done by People's United Bank/Encore Online. I still charge to oversee it all. It's an immigration issue, so we want it correct with a good paper trail and no related parties; they're willing to pay for the outside third party payroll company as well as pay me a little bit too. I don't like being tied down, and I don't like the large penalties. As treasurer, I used to do our church payroll, but the national church made a package deal with Paychex, so that's off my shoulders. With the People's system, I input her wages for the entire tax season in January so I won't have to deal with it until next week!

Or insane, but I love her for that. Welcome! I don't use ATX. I'm here for the tax experts, to learn from the posts, to vent to people who are going through what I'm going through, for the almost always supportive posts. I ignore the ATX specific posts. And, as has been mentioned, you can get Drake specific help in one of our forums.

The Capitalization vs. Repair Decision Tree is free. You can read the Guide, download it, or open it in an app on your smart device. And, the guide is pay whatever you want this week for downloads. I downloaded it and like its organization. There's an index, the decision tree, and then the Definitions and References follow in the order of the tree with links to the regs along with each definition. Easy to step through. http://kevmccoy.com/guide/

I understand what the IP PIN is meant to accomplish. Does the other PIN do the same thing? Something different? What? I have a lot of clients on extension, and me, so want to know if I should recommend this.

Like - Click this link to Add this page to your bookmarks Share - Click this link to Share this page through email or social media Print - Click this link to Print this page IRS IP PIN pilot continues in Georgia, Florida and the District of Columbia Español IRS YouTube Videos ID Theft: IRS Efforts on Identity Theft: English | Spanish | ASL IRS Identity Theft FAQ: First Steps for Victims: English | ASL WASHINGTON – As part of an ongoing pilot program, all taxpayers who filed federal returns last year from Georgia, Florida or the District of Columbia are eligible for an Identity Protection PIN (IP PIN) that will help protect them from tax-related identity theft, according to the Internal Revenue Service. The pilot project is part of broader IRS efforts to combat tax-related identity theft. The IRS has an aggressive, multi-part strategy of prevention, detection and victim assistance. Stopping identity theft and refund fraud is a top priority for the Internal Revenue Service. For the 2015 filing season, the IRS continues to expand these efforts to better protect taxpayers and help victims. Georgia, Florida and the District of Columbia were chosen for the pilot because they have higher levels of tax-related identity theft. The IP PIN is a six-digit number that must be used on a tax return, in addition to the Social Security number, to verify the taxpayers’ identity. Once a taxpayer opts into this program, they will need to use an IP PIN for future year filings. At this time, there is no way to opt out of the program once you sign up for an IP PIN. A new IP PIN will be mailed to the taxpayer each year before the filing season, and the current IP PIN must be used on the tax return before it will be accepted by the IRS for processing. To opt into the program taxpayers who qualify should visit www.irs.gov/getanippin, to register and create an account. Taxpayers must also verify their identity as part of the process. You can get an IP Pin immediately even if you plan to file later in the year. Once issued an IP PIN, taxpayers need to use it to confirm their identities on all federal income tax returns filed during the 2015 calendar year. Taxpayers will receive a new IP PIN by postal mail each year. Eligibility for this program does not mean the taxpayers are already victims of identity theft. The main purpose of the program is to add an additional layer of protection to taxpayers who live in areas where tax-related identity theft is more prevalent. Learn more about the IP PIN at IP PIN FAQs for Individuals and learn more about identity theft and what the IRS is doing to combat it at IRS.gov/identitytheft. You can also read IRS Fact Sheet 2015-1, IRS Combats Identity Theft and Refund Fraud on Many Fronts, and IRS Fact Sheet 2015-2, Identity Theft Information for Taxpayers and Victims. Page Last Reviewed or Updated: 27-Jan-2015

I read about a pilot program for people without identity problems for residents of FL, GA, and DC (I think) to get PINs. Is this the same PIN program only expanded to anyone now?

Already told hubby I want wine tonight. It's been one of those days.

My business plan is to charge more than when I worked at HRB but still less than CPA firms.

Yes, do it now. (Don't the regs say something along the lines of When the error/omission is discovered?) In fact, if you discover any other changes, now is the one year you can do almost anything on one 3115 without a user's fee due to the "simplification" of the new repair vs. capitalization regs.

Congratulations! Please stick around.

What do the instructions say?

I have mine set up to send me an email. I don't use ATX, but I do use CCH. Also, on the electronic filing status screen I can click on a return ID and get a printable and exportable pop-up that includes the e-Postmark date and details right down to each state acceptance (for the few states I can e-file extensions) and the Submission ID. I can do all that from within the client's return as well.

Had a client that argued herself with IRS and CT over a lot of back years and did get them to keep applying those very old refunds forward as she filed each year. It was something like 10+ years worth of returns. Really surprised me. But saw that only once. For other clients, it's that letter as mentioned above for failure to file within the three year deadline blah blah blah.

I think you can get a form from the IRS that the person did not file a tax return. Just something in the back of my memory. But, what would that really prove? You'll have to ask the school what they will accept.

I know the IRS considers all income as income, even illegal income. But, I hope they don't consider illegal income as earned income for EIC purposes. The law is not logical, though, it's just the law. If I kept a client that earned money at illegal activities, I'd have to research that. Luckily, not my client base -- as far as I know.

Income from an illegal activity is still taxable income.