Lion EA

The letter from the IRS issuing the EIN would have the name the IRS uses, or maybe even the SS-4 applying. Usually the first four letters of the last name needs to match the EIN.

You two join with others to form a virtual study group. Maybe a recent test-passer would be your group leader.

It may have been an auto-archive thing. Check your settings.

IRS has free webinars, and they're archived, so you don't even have to watch them live. TaxTalkToday has a package deal for credits for the whole year. If you belong to any professional organizations, they may offer inexpensive seminars. If you belong to any national organizations, such as NAEA or NATP, you may find CPEs from reading their publications, taking an online or mail in test, and paying a small fee, and many offer webinars you can take on your own time. Your software company may offer free &/or low cost CPEs. Your company may reimburse for education if you can make a case for your skills helping the company. The initial test will be an expense and time consuming, but it's a one-time deal. Many seasoned tax preparers have passed it with no additional study. The next window (starting May?) will use 2011 tax law, so take it soon while preparing returns is fresh on your mind. Look at the example you'll be setting for your kid, that Dad never stops learning and improving!

I'm sitting here with Forms 1099-INT for $0.42 and $0.18 for one client. My software would round those amounts down to zero. And, I know that many of my clients had up to $9.99 in interest that was not reported to them from one or more banks. Some even tell me they called their bank and had $7.56 interest, for example, which I report. The IRS wants me to e-file and the client wants to e-file and it's April, so NO I do not feel dishonest if I report interest that the client agrees to but is not reported to the IRS.

Ok, so someone who does not know how to print thinks he knows how to prepare taxes?! At least it seems he's seen the light. Put him at the bottom of the pile and make sure you charge him more than before!

That partnership plus H/W, they put W-2s for their sons in their folder! I wasn't expecting two more returns. Darn. And, as many times as I told them NOT to have CT withholding for students, offered to help them fill out W-4s, there's CT W/H requiring CT returns too. Darn. And, the family with 13 returns, doesn't know when the wife will be home to sign, and another hasn't returned my calls. I took too many new clients this year, but February looked so empty until the last week when all my old clients dropped off in the same week!

Not there yet. Huge partnership plus the h/w returns with thousands of trades. Broker's Excel spreadsheet to import in past years made it a breeze, but spreadsheet is a mess this year. One more normal set of returns. And, a huge amount of extensions. Federal and NY I e-file, but CT has to be on their web site. The two that need lots of computations on amounts to send, I finished before I went to bed and emailed them extension forms with amounts to mail. Hubby delivering lots of returns today to get signatures, so I'll be e-filing a lot tonight. And, I'm e-filing trusts for the first time and have concerns about name control; expect to spend Monday on hold with the IRS getting their names straightened out. Long three days left.

I've put $1 of interest in similar situations to enable efiling. Remember when we had the telephone tax rebate or some such where people wanted to file to get their rebates?

This is one of those times when what's best for her might not be best for him. Tough to advise them both.

Hey, OldJack. I always file Schedule L. I need it for myself to know it's balanced. And, a future preparer'll need it. And, I or the client or that future preparer need it when they dissolve the company. And,.... As you say, it shows our worth to the client and probably heads off some IRS concerns, too.

But, you do have to tell them the rules. Don't wait for them to divorce and have dueling lawyers say you did it wrong!

Prepare Schedule L for yourself and print it out for your file. You don't have to file it.

Oh my goodness! Thankfully, he bounced back even higher from such a low point. Our prayers continue.

Yes, bonus is allowed.

I may be at my desk through Tuesday midnight. Allergies have led to post-nasal drip and no voice and a sore throat and lots of meds and really dragging for the past few weeks (everything pollinated early and all at once out here). Sent husband to PA/NY for the kids' opening of their bakery: http://www.thebakeryhancockny.com/default.html Today he's actually covering the front desk at their Inn (son Manager; daughter-in-law Executive Chef: http://www.innatstarlightlake.com/ I was out the end of March for a surprise 60th birthday party for my son's mother-in-law/Inn owner but stayed only one night; daughter drove and I vegged (hubby Steve is a church music director and couldn't take off a Sunday in Lent). Steve and I will go out after church on Mothers' Day and stay for a few days for my after-tax-season trip and his pre-surgery trip. He's having his right shoulder replaced in June; left was a year ago. Then daughter who's done it for nine years asked me to join her on Appalachia Service Project to make homes warmer, safer, and drier in July: http://www.jesseleeasp.org/ Had power tool training last Friday night and am feeling more powerful !! A week in August is Steve's family reunion at a resort motel on the Cape. He has a bunch of cousins our age, so that's always fun and relaxing -- on our own most days, and then dinners with family. In November I'll probably attend the CCH User Conference in San Diego. Pricey, but I learn a lot, and it's my time alone treating myself to good food in a nice place. My pre-tax season trip. Although, Steve and I sneak in one more trip to the Inn between Christmas and New Year's.

What does the operating agreement say?

Don and you and his medical team remain in our prayers. And, we're happy to provide distractions.

And, if a loss exists, I think it's a Schedule A, Miscellaneous, 2%, deduction. So, not very likely. In 16 years, I had one client with nondeductible IRA contributions as his income rose who cashed out everything in his IRAs as his kids went to college and he was between jobs who actually had a small deduction in that low-income year from an IRA that was less than his basis.

Do they have an accountable expense plan? Does their operating agreement require them to use their own property without reimbursement?

If you have unlimited storage space, then don't return his documents. I prefer to get them out of my office, and to have proof I sent them. EIght years later he'll accuse you of losing his papers.

During the filing season for 2010, I had my program set to use MEF when available. Only ONE of my returns was eligible to file via MEF. The IRS didn't have very many forms available for MEF filing. You can probably find a list somewhere.

Do NOT do any work on those past returns. Next Wednesday send him an email that you will be in your office on_________ at_________ and he may drop off a check of $____ or pick up his materials. Or, insist upon cash if you think that's best. When he doesn't show or doesn't bring money, send all his stuff to him certified mail, return receipt requested, or other trackable way.

I was surprised I didn't receive an email in the morning alerting me to the issue. I had to call in to find out they were aware but didn't have an ETA for their resolution. At least I received an email that it was fixed.

Electronic Filing Status Site Dear ProSystem fx Customer: Based on your current e-fxNews profile, below is an item you may find of interest. On Tuesday, April 10, 2012, at approximately 9:45am CDT, CCH experienced degraded performance on the Electronic Filing Status website. CCH immediately started work to resolve the issue as quickly as possible. Changes were made to the Electronic Filing Status system and at 7:00pm CDT performance returned to normal operating levels. At this time Electronic Filing Status is back up and running. We realize that this is a very busy time of year for our customers and apologize for the inconvenience this caused. We strive for excellence and regret any customer experience that does not meet our standards for high quality customer service. Electronic Filing Status site status is available 24 hours a day, 365 days a year at http://support.cch.com. From the homepage select: Product Support > ProSystem fx Tax > Application Status in order to view the current application status. Online self-service help is now available. Find answers to your CCH questions in our Knowledge Base at http://support.cch.com/answers/. Sincerely, CCH, a Wolters Kluwer business