JohnH

Yes, it matters. For the reasons stated above and others as well. No matter whose fault it may be if your initial estimate surprisingly turns into a balance due, the client will expect you to cough up the totally unnecessary FTF penalties. And the client will be correct.

Just filed my 51st extension today. One or two more and I'm done. Allowing for a few new clients whom I extended, a couple of old ones who left, and the fact that about a half-dozen of these are "protective' extensions only, I'm slightly under my normal number of extensions. But I digress from the main point, which is... ...there's no reason to care about the Apr 15 date with a little advance planning coupled with good client education about the realtive meaninglessness of this deadline.

Probably zero chance they will extend the date since routine extensions are so easy to obtain with Form 4868. It would be nice, but who has time to petition them to change it?

Jerry: So if you did your sermon outline in your sleep, would I retain more of the message if I fell asleep DURING that sermon? I have an urgent need for an answer before next Sunday.

I had a very similar situation earlier in the season with a potential client. They rented the property to someone a month and a half before the holding period had expired. Looks like that first rent check cost them $8,000. I explained everything to them and they decided to just "do it themselves". Well of course I believe them - you needed to ask?. Wonder how many preparers they had contacted before me, or if they've now figured out what not to tell the next one.

Very smart, Catherine.

Thanks. That's good to hear. Sounds as though the conversion on these should go fairly smoothly. Reviewing and rearranging "Other" expenses should be easy. Looking forward to getting started on them in May or June,

I extend all my entity returns, and the individual clients affected (mostly S-corp shareholders). So about the only asset entries I have to deal with on personal returns prior to Apr 15 are a few with rental properties and a couple of Schedule C's. I guess I'm fortunate because the clients I need to extend are fairly cooperative. After Apr 15, I will look into running the conversion program to convert the entities with depeciation schedules. From what I was told by Drake, I think this can be done on a case-by-case basis. I think I can already visualize how that's going to work. I have become more familiar with the program by working on clients with small asset schedules, so it will be much easier to transfer that knowledge to larger ones.

Do you use dual monitors? If so, try running a Drake Tutorial on one monitor while preparing the return on the other. Their forum is also very helpful for software questions. I agree with ari - Drake is super fast once you get used to it. Using Ctrl-G does help simulate forms-based entry, but it doesn't take long to abandon that altogether once you get accustomed to navigating from the keyboard. Looks like I'll be filing LESS extensions this year than I have in the past, thanks to my having switched to Drake back in Feb. And that includes time to re-enter basic client data. (I didn't run a conversion program - am just doing everything from scratch on every return).

Hi Kerry: Great to hear from you. Hope things are going well for you and your family.

One week for me. I plan to have all extensions in place next Friday the 12th. Office will be closed from then until Apr 22 - goin' to the beach for a week. (A getaway does wonders for the "letdown" thing...)

I'll tell them I'm no longer an ATX user. But they can send me a full working version of 2012 (and 2013 when it's ready) if they like . I'll evaluate both of them - might even file a couple of extension returns using their software if time permits. And if they pass the test I'll consider ATX as my backup vendor if anything goes wrong with Drake in the future. That's exactly the same thing I've been telling Drake and Taxslayer these past 8-10 years when I was using ATX. This past January I was sure glad I'd been doing that.

My folders aren't pretty - they're durable.

You need to read up on the 4361, including the timing and conditions under which it is filed. It's all right there in the instructions and in the statement that the signer is making. Listen to what what Mike just told you. The 4361 is not even a part of a tax return. http://www.irs.gov/pub/irs-prior/f4361--2011.pdf

When they get that large, I switch to a heavy Globe-Weis or Smead hardboard folder (they come in blue and green). It has Acco Clips permanently mounted on both inside sections, so all I need to do is punch the papers and slip them into their proper place. It will expand to about 1-1/2 inches and it's very durable. I like those folders, and I like producing the invoice that goes along with them.

Brandon was my sales rep as well. I agree, he's a very nice guy - he meets all my standard for a good sales rep.. But the sales rep in me wouldn't want to be in his seat during the next few months.

Thanks for the reminder. Just made my latest donation as well. And thanks for all the help from everyone on this forum. I agree that you're a fantastic group with a wealth of knowledge and a genuine willingness to share it with others around this virtual water cooler.

There are times when their time is more important than yours at a given moment, and there are also times when your time is more important than theirs for the same reasons. That's why I like email so much - it is far less intrusive on everyone's time.

File a NC return with a Schedule C this year and you'll be absolutely giddy.

Do you think the thought ever crossed the translator's mind that maybe they were actually secretly auditioning him for a Monty Python skit?

We're only supposed to drink one cup of snow coffee per day. I think I exceeded my weekly quota before lunchtime. OH, I do hope the Democratic People's Republic of Korea will send a film crew my way with REAL coffee.

Yes, you can exclude it. Age is not a factor in the $2,000 exclusion rule on the NC return. Everybody gets it.

E) Check Facebook and Online Forums from my iPhone (oops, gotta go - soup's ready)

I'd do that except for one problem. I can imagine the phone call from some clients during tax season: "Hey, just asking how it's coming with my tax return. Oh, and by the way, can you check to see if that worthless stock I sold you has ever recovered any value?"

What's the rationale for arbitrarily adding to the fee? IRS isn't punishing the client enough, so we need to add to the pain? Seems like this flies in the face of doing what's in our clients' best interests.