I have a client that received a 1099-Div with an amount in box 9 for cash liquidation. His father owned this corporation and had passed away. My client received... read more
What are some best practices for filing extensions for new clients?Do you have them sign an engagement letter and just request their personal information?Do you... read more
Client received a letter that they had made a mistake on “taxes” part of last year’s Schedule A. This is what they filed: This is what the IRS notice said: Wh... read more
client purchased a home with a partner to flip. The purchase was reported on 1065 along with the costs of renovations and subsequent sale. K-1's were issued to ... read more
Finishing partnership return and I can't staple it using a heavy duty stapler. And there are only four partners. I could just imagine if there were a hundred pa... read more
I have a husband and wife who earn wages abroad. Can I combine their incomes on one Form 1116since they are the same category of income - General Category?
When I filed my clients' returns, it rejected it due to a duplicate dependent social security number. I notified the client and asked if their oldest son filed ... read more
I figured my client owing $508 in estimated tax penalty. He doesn't like to pay estimated taxes and owed on his return $10,996. I set up for him to pay to an ac... read more
Received a call from an individual. His taxes were filed with the wrong first name and his Social Security number was off by one number. His last name and addre... read more
We use the most expensive Proseries Professional Tax Software they sell. They keep jacking the price up EVERY year.We have been with ProSeries for at LEAST 25 y... read more
My client withdrew a large amount of his retirement resulting in his taxable income being taxed at a much higher rate (24% vs.10%). The reason he withdrew was d... read more
The urban legend persists that electronic filing significantly speeds up the processing of amended returns. What you gain is 2 or 3 days in the mail, and maybe ... read more