Lee B

If you read the article, there is an interplay between the step up in basis and the passive loss allowed ,otherwise there would be a doubling of tax benefits.

It wouldn't surprise me if the trial balance is in balance. All it takes is one account to be in the wrong category.

Whether he is a dependent or not isn't based on how much money he makes, it depends on who is providing support. For example if his parents are supporting him and he invests or saves a chunk of his wages he is still a dependent. I had a similar situation last month where the student put a large amount of her wages in a savings account with the parents providing support.

Brew One, How do you go through and check them?

My understanding is that the the TAS doesn't involve themselves in this kind of situation.

Unfortunately, the original notices were suspended during COVID. The IRS restarted sending out notices in February which is why clients are receiving these balance due notices now. You will need to have your clients request a "Record of Account Transcript" which will show everything.

Well that's very user friendly

We all have clients that think differently and have different priorities than we do. So what

No, they're not cloning it. They paid Drake for a license to use it and resell it.

Yes, they have priority access to the TAS

Perhaps you should try the Taxpayer Advocate Service https://www.irs.gov/advocate/the-taxpayer-advocate-service-is-your-voice-at-the-irs

Intuit's CEO has openly said that they plan to expand to take 25 % of the small business accounting/payroll/tax market. I wonder if cutting services to boost profits will help them

Changing to Sigma Tax Pro to save $400 isn't worth it to me. I can make that up with one tax return.

Just thought I would mention the possibility, since there are 4 different kinds of transcripts and the standard Tax Return Transcript only shows what was on the originally filed Form 1040.

Perhaps you have a Tax Return Transcript instead of a Wage and Income Transcript?