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Tax Classes are Over


mcb39
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What did we learn?  Very little.  As expected, we learned that we have to unlearn all the new things that were incorporated into tax returns in the past two years. Of course, that totally depends on whether or not extenders are extended at the last minute.  Or, after filing season begins.  

We learned that there will be little or no help for us; as per usual.

We learned that many preparers are moving on to either retirement or other things.

We learned to be thankful for this Community and others like us so that we can depend on someone for answers, or just have a place to vent.  We feel rejuvenated, refreshed and ready to start over even though the IRS is still processing 2000 and 2001 Income Tax Returns.   Let the cards fall where they may.  We learned that MANY totally rediculous letters were sent out and received by our clients.  Of course, we already knew that.  

Let's try to make this the best and most successful tax year ever and be thankful that we have each other to lean on. 🙃

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I just ran across something stating the PTB want to revise the W2 process to have B,C,2 on one page, but they are delaying because of complaints the new design will not fit in the window envelopes folks already have in stock (or maybe that form suppliers need time to figure how to avoid lost $ from less pages to sell?).

The PTB realize few are using carbon paper and impact printing, and do not need all copies to have the same print locations. The PTB may not realize many have been using 4 up copies for decades. The PTB may not realize the employee copies are getting to be moot (other than one) with efile, and the ability for people to access a copy machine (or create their own) if multiples are needed.

On the other hand, I would so much be happier if the PTB would get things to a better place, so I do not get blamed for "my software" causing deposit mismatch, incorrect deposit, and other issues "my software" is not causing.  Even when I can show the paychecks were entered correctly by the customer, and the software gives correct totals (it does math just fine) based on the customer entered data, the customer still believes it is my fault when they get a nastygram from the IRS.

I make and handle enough mistakes my human self, I have some mental space to handle the mistakes of others, but some days... I work harder to find someone to replace me.

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1 hour ago, mcb39 said:

As expected, we learned that we have to unlearn all the new things that were incorporated into tax returns in the past two years. Of course, that totally depends on whether or not extenders are extended at the last minute.  Or, after filing season begins.  

My understanding is the "changes" were meant to be temporary.  I suppose there is a small chance that some are extended in lame duck session, but after we have divided gov't with the new Congress in January I highly doubt they will be extended. 

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My body and apparently my brain immediately aged. I need cataract surgery before tax season.

Good luck with that surgery.  You will be amazed.  I had that done years ago.  I need new glasses before tax season.  I find myself reaching for the magnifying glass far too  often.

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@mcb39  Just curious.  Why would you finish your classes this early?  

I always wait until late December or early January to take my refresher courses.   In "normal" years past, I wanted to make sure I had any last minute changes, especially in "lame duck" congressional years (reps who don't have to face the voters again seem to be willing to work across the isle on controversial votes).  If the "tea leaves" are correct, the new House may have new leadership and the current House may want to get a few more bills passed before that change takes place.

Don't take this a criticism, I'm just bored on a rainy day and thinking out loud on the forum.

Tom
Longview, TX

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12 minutes ago, BulldogTom said:

@mcb39  Just curious.  Why would you finish your classes this early?  

 

Don't take this a criticism, I'm just bored on a rainy day and thinking out loud on the forum.

Tom
Longview, TX

Not at all.  These were the classes that I needed for the certification credits.  I like to get that behind me.  Study and other classes are ongoing.  Next up is November 30.  Never actually finished with studying.

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1 hour ago, mcb39 said:

Not at all.  These were the classes that I needed for the certification credits.  I like to get that behind me.  Study and other classes are ongoing.  Next up is November 30.  Never actually finished with studying.

Ah, I misunderstood your meaning.   I did my "required" CPE over the summer in Las Vegas.   I will have 2 update classes, 1 in December and another in January.

So now my question is - "What took you so long?"  lol

Tom
Longview, TX

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23 hours ago, BulldogTom said:

Ah, I misunderstood your meaning.   I did my "required" CPE over the summer in Las Vegas.   I will have 2 update classes, 1 in December and another in January.

So now my question is - "What took you so long?"  lol

Tom
Longview, TX

To tell you the truth, I was working on extensions right up to the deadline.  Also, I did try to sneak in a couple of weeks entirely alone in the Northwoods of Wisconsin.  I am working on amendments now.  That's what took me so long.😅

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20 hours ago, mcb39 said:

To tell you the truth, I was working on extensions right up to the deadline.  Also, I did try to sneak in a couple of weeks entirely alone in the Northwoods of Wisconsin.  I am working on amendments now.  That's what took me so long.😅

Tom, I have to tell you that my husband is in the automobile business; which keeps me pretty busy also.  BUT, of interest to you is the fact that they (he and our boys) get all of their cars and trucks to sell from Texas.  Rust free vehicles in Wisconsin is a BIG ASSET!  Works well for them and kudos to your state.  We all love TX and I sure miss seeing the Bluebonnets the last few years.

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I wish I was working as hard as you.   I need to pick up new clients if I am going to make my "retirement" work.   I have always had a day job and worked the tax business on the side, hoping the day would come that I could just do tax work.   The day has come, but I need to expand the business to continue this lifestyle.   I have about 2 years of savings cushion to get the practice to the point that it provides the income I need.   I thought I had more time, but inflation has changed the calculation a little bit.

We love Texas too!   We live in the piney woods forest in NE TX.   It is so beautiful.   Wish I had made the move sooner.   Not to get political, but the environment here is so much better than where we were.  You don't realize what you are putting up with until you get out from under it.

If you are ever coming through this area to pick up cars (closer to Shreveport LA, just off Interstate 20) stop in.   Would love to host you.

Tom
Longview, TX 

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Speaking of IRS notices. A client who filed late and owed the princely sum of $147 which he sent in shortly after efiling got a penalty notice which is so convoluted it will take a me full two hours to prepare a letter to address it ! His penalty will likely be a big $30. I myself received a request from the Service requesting a form for my return to report $27 (twenty seven dollars) of income from a small holding I own. TWENTY SEVEN DOLLARS ! I shudder to think what is coming down the road with all these new hires.

 

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