JohnH

---->. That's the way the Republican Congress extended the Bush tax cuts. <------ Slight correction to the verbiage here, if I may. Aren't you referring to the "Bush/Obama Tax Cuts" ? I think its important to give proper credit where it's due, especially in the rare situation in which a Democrat actually agrees to a tax cut.

Well, if it only involves one client you could always take the dinosaur route and mail a paper one in by Certified Mail. That wouldn't prevent you from e-filing it later once the software catches up with your schedule. (I've filed duplicate paper 4868's for the same client many times for vairous reasons - never had a problem to result from the duplicate filings)

To find the latest date & time of a program update, go to the Download Center, then choose "2010 Program Updates" Then you will see this: ----> Last Tax Program Update On: Friday, March 11, 2011 12:41 PM <----

So since Monday is Pi day, does that mean we've come full circle with our wierd clients for this season?

Yes, the first $2,000 of distributions from private retirement plans is excludable from NC income. Anything that winds up on line 15b or 16b of the 1040 is eligible for this exclusion. The exclusion is per taxpayer, so in the case of a husband and wife, each can use up to the $2,000 exclusion if they have separate retirement distributions. But even if you check the proper boxes on the 1099R entry form in ATX, you still need to make the entry on page 2 of the NC D-400 in order to get the exclusion to calculate.

Good point. The more drama the better.

But that would spoil the drama, wouldn't it? With all the media, drama wins out over reporting accuracy every time.

Tom: Sounds like this could be an unequal distribution which could invalidate the S-corp election.

---> Love and money just don't make a nice cocktail. <---- Well, not always true. Sometimes they make a very effective Moltov Cocktail...

I loved them all. I borrowed the link and posted to the Tax Book forum as well.

I think you said it well at the end - "You are not my only client." You could even add - "You are not my biggest client, or my most profitable client" Depends upon how strong ou want to make it. He can either accept that or go somewhere else. As for communication, I don't know how you do it but I try to migrate them all over to email. I always tell them they can get almost instantaneous responses from me if they will use email, but phone calls have to wait until I can get to them. Usually I return phone calls the same day or next day, but no guarantees when I'm really busy. And I do everything possible to discourage them from coming to my office. I find I am much more efficient as long as I can keep my clients out of my office.

My kind of client.

One of my favorites: CLIENT: "We sold this stock last year, but we don't think we made any profit. Do we need to report it?" ME: "Yes, you need to report it. Why don't you think you made any profit?" CLIENT: "Well, we bought it a share or two at a time with payroll deductions over the last 20 years. It's gone up and down a lot. Do you think we might have made any money on it?"

I can see how easy it would be to make that sort of mistake. I think I'm going to put a reminder in outlook today for around June 30: "Remember to change social security numbers in order to maximize EIC". (You were smart to send him packing)

Water off a duck's back, IMO. I had an incident a few years ago in which someone at church asked my advice on a tax matter related to the church's day care center. I didn't tell her what she wanted to hear, so she asked someone else, got advice more in line with what she wanted to do, and she proceeded to do what that second person advised. (The second person's advice was wrong, wrong, wrong). Sometime later, she interrupted a conversation I was having with another church member to tell me what she had done (I think to get some cover in case her wrong decision came to light). After the conversation ended and she walked away, the other church member asked me if it bothered me to give correct advice and then see someone do the opposite. I replied that it doesn't bother me one bit. After all, people often pay me good money for advice that they refuse to follow, so why should I care what someone does with it when it's free?

I like it.

Best of luck to you Jack. I agree that taking it in the middle of tax season might just be the best thing to do, because right now you should be on top of your game.

But if you do decide to prepare her return, do remember to deduct the vet bills and food for her "security cat" because it guards her inventory when she's not home. (I'm not making this up - I actually heard that from a potential client one time.)

This is interesting. Tell me if I'm misreading it. If a company is in trouble and can't pay all its payroll taxes, then the prudent thing to do might be to forego paying the payroll tax deposits. Then when the 941 is due, file it by mail along with a check and do the proper designation for trust fund taxes. This would be the only way the responsible party could guard against a trust fund penalty.

In some areas, it appears that not much has changed in India since 1076. But it's a magnificent place with warm, beautiful people to be found everywhere. This was my first trip to India - can't wait to return next year.

Daniel Patrick Moynihan was a prophetic voice back in 1965, wasn't he?

I like your lion best of all. Sharp detail for the face set against the blurred background. Very professional & exotic looking. (I can almost read her mind as she stares out at me "Hmmm, wonder if he tastes like chicken?") May I add a few shots I took in India this past week?

Whether or not any services were rendered is the burning question here...

Client' answer to the question from the IRS auditor when asked, "do you have a contemporaneous daily log of your gambling activities, and when did you prepare it?" "well,I never kept a daily log until I got that big win. But then I started keeping a log all the way back to the beginning of the year. So yeah, it was contemporaneous after I started keeping it."

Yes. Provided the ownership test is met, qualified dividends are the same regardless of whether it's a closely-held corp or a publicy-traded corp.