Loose Ends

[Terry D EA]

How many clients do you have that are in the process of getting you more information? I have about 15 that are waiting for information. Of course, these folks have to pay and are in no hurry to get the information. I'm will be notifying folks today that if the information is not here by April 8th, their return will be extended and if they want it expedited, there will be an additional charge. How do others handle this?

More aggravation, client drops off return last Thursday. Calls Tuesday of this week and complains because I don't have it done. Mind you there are 8 drop offs ahead of them that are mostly complex returns. So, I jump on the return, and they have to pay. Now, they are in no hurry to pickup their return and pay my fee. I called Tuesday evening and let them know the outcome on their voicemail. No return calls until this morning. Go figure.

[Possi]

I start triage on Monday. Fast returns will be turned around, hopefully. Others are extended. For the last week, I have been telling clients it is likely they will get an extension, are they ok with that? And they have all said ok. I have over 50 in the bucket, untouched. Incoming this week will get extensions. But I do like to wrap them ALL up before the end of April.

[Terry D EA]

I guess I need to learn how to spell or maybe not type so quickly without proof reading. If Judy or KC can fix my subject line to "Loose" I would appreciate it.

[JohnH]

I think the "Loos Ends" title is very appropriate and illustrative. The creative spelling is what attracted my attention to the topic. I actually I thought it was intentiona 

[JohnH]

I think it's a mistake to ask clients if they are OK with an extension.  I prefer to tell them up front we will need to file an extension and proceed to get it ready.  It's the tax preparer equivalent. Of what's known as the "assumed close" in sales.  Asking implies that they have a choice in the matter, when in fact the preparer should be making the choice.  

If they object, in some cases I tell them it's the only way we can move forward.  But for special situations (and in my case they have to be VERY special), I will make an exception and go ahead without the extension.  This business is about making distinctions, but the essential question becomes "who is making the distinctions?"  If you surrender that control to the client, they will always decide in a way that is not in your best interests.

[RitaB]

3 hours ago, Terry D said:

How many clients do you have that are in the process of getting you more information? I have about 15 that are waiting for information.

I have five that I'm aware are missing info.  There are 21 others here that I've not started, and knowing their track record, half will be missing information.  I'm asking one time.  Then my energy is going to be spent on those for whom I have everything.  And making sure I don't miss an extension.  Or lunch. 

[Lion EA]

Lunch?  I have a new partnership that I thought was complete, uploaded K-1 for one partner and prepared 1040 for other and am waiting on his mileage.  Now get an email from the gal that recommended them and her CPA asking for her K-1.  They didn't tell me they added a partner; she wasn't on their 2014 return that I reviewed.  I did ask about their relationship to her since she recommended them, and they talked about a side agreement where she paid some of their bills over time and they'll start to repay her during 2016 since money is starting to come in.  No loan on the balance sheet; no 65K in their bank account; expenses aren't anyplace near that high.  Does your LLC have a joint venture/LLC/partnership with her LLC?  They say No but do say they have an agreement on paper and will bring it by Sunday afternoon.  I didn't quote them nearly enough for more than a week's worth of work and asking for more information.  While my continuing clients wait for me to finally get this one off my desk.  Frustrated.  At least I'll stop right now and move on to other clients until tomorrow afternoon when maybe I can see what I'm working with.  These guys self-prepared their 1065 for the last couple of years, but put all their expenses on their Schedules Cs, including expenses dating back to 2011 that must've been start-up expenses!  I did NOT offer to amend, just told them what they did wrong.

[RitaB]

39 minutes ago, Lion EA said:

Lunch? 

Yes, like the Eagles song says, "lunch will keep us alive."

[Lion EA]

Then I guess I better have some lunch.  It may not keep my partners alive if this gets any more complex.  Lucky that one of them is in TX.  But, the other is coming Sunday afternoon so I better start digging now.

[FDNY]

My strategy, I hammer them with emails and phone calls as I do my best to clean out the backlog that is waiting for a piece of information.  It helps me to feel better seeing less in the racks.  This time of the year it's all about you and me, transfer the stress from us to them.   

Don't you just love it when they think there is no rush because they owe or they have until 4/15.  While I'm always nice as pie to them, I will let them know how inconvenient and un-productive it is for me to wait on them, and maybe they will realize how inconsiderate they have been, usually takes a few years.

[Jack from Ohio]

I have only acknowledged that the actual filing date is April 18 to those who have found out for themselves.  For every other person I talk to, due date is April 15.  Then on Friday, April 15 I can be a giant hero by... "...I have a connection that can allow me to get this in on time for you.  However, there will be extra cost..."