Client received Condo in Florida with rules by the association they could not rent it for 1 year. They are not doing a vacation rental and want it to be a full ... read more
Difficult to say no and turn down work, even though I don't need it really but this is a sales tax issue in Ohio.. Client behind many years in sales tax. pizza ... read more
Again with the reconciliations? In the same vein as covid era advance child tax credits, EIP stimulus # 1, EIP stimulus # 2, EIP stimulus # 3.. We may have to h... read more
Mid February opening date being called for.. looks like a lot of stockpiled returns or maybe Intuit will let us efile late january and they stockpile the return... read more
IRS Commissioner confirms ends of Direct File initiative Billy Long, the newly confirmed IRS commissioner, announced the termination of the Direct File ... read more
August 2016: Client, a widow in her 80s, gets a CP01H notice from IRS that “we are unable to process your [2015] tax return as filed. Our records indicate that ... read more
Picked up a new client.. they brought in 2024 return and I started to onboard the return into my program so I am set to go early next year I never saw a 1065 li... read more
Until this year, I added the Form 2210 penalty to the return if it was over $100, because I knew IRS would assess it. But this year, for most clients with a pen... read more
The existence of a thousand white swans does not prove there are no black swans. But the existence of one black swan (many are found in Australia) proves that n... read more
I have a f1099-Int with $5100 on Box 1 and 1250 in box 3- US obligation. Is it correct to assume that the 1250 is included in f1099-Int box 1 $5100? Pro connect... read more
I was directed to this form when my client received a non-cash distribution on his K-1. He does not recall what he received so it is difficult to determine the ... read more
I am a solo practitioner and this is my first time ever dealing with this situation. One member of a 50-50 partnership died July 2024. His wife inherited his pa... read more
MFJ clients asked me if they will qualify for the senior deduction, with an AGI of $200K. It is phased out for (modified) AGI starting at 150K. However, it’s a ... read more
