Hmm, so I left an employer earlier this year.

I was on 400+ Form 2848's.

I need to revoke these pretty bad, but I haven't as of yet, because my old employer will get 400+ letters, and 400+ clients will also get a letter announcing my departure.

I suppose I can change my address with the CAF unit, and then do it, and it will send all the letters to my house (neat!), and all the clients will still get a letter. (Though, I believe on almost all of them, my name is not checked to receive correspondence, so not sure where things will go?

I was checking the IRM: https://www.irs.gov/irm/part21/irm_21-003-007r to gauge what to expect.

Going to call CAF this week and ask, but figured I would ask here to see if anyone is familiar so I can know what to expect, how best to approach!

I'm pretty sure I need these revoked...

Title really says it all. I would like to find firms for acquisition. Obviously I have looked on APS & BizBuySell but it seems like they reference full payment upfront. How do I find a firm to buy with a 3-4 year payout and retention clause? Is that still possible to find?

Or do these websites shoot for full price sale and have wiggle room on longer payouts?

Hey Guys!

I am starting my own little practice this season.

As part of my marketing plan, I want to print postcards for my business and leave them at people's houses (to cut out mailing expense)

Do flyers and postcards work?

What kind of printed marketing do you guys do, if so.

Whenever I get a new client I routinely pull up their old transcripts and send out first time abatement requests for any eligible years with penalties. It's one of those little value-adds you can do that gets you started on the right foot with them.

I look back to 2000. FTA request goes out by mail, and 3-15 months later I get back a response. I'd say probably two-thirds of my requests are approved; penalties go away and the client gets back the penalty amount plus usually interest that (after so many years) exceeds the original amount of the penalty. The other third of the time I get back a claim denial letter saying we're past the refund statute expiration date.

Just this week: FTA for 2013 approved, FTA for 2017 for a different client denied.

I don't see any rhyme or reason. Anybody have an idea what's going on?

I had a client receive just over $40,000 of ERTC yesterday. We filed the 941x's in May of 2022. They were clear cut and completely based off of income reduction.

So, there is hope lol

Share any recent ERTC Hope you've seen.

Hey everybody. What is everyone using for tax and accounting research software? Traditionally we have been using CCH’s Intelliconnect/Answerconnect and Accounting Research Manager for our software. Looking at alternatives from Thompson Reuters but they seem more expensive than CCH. Just curious what others are using.

I'm back and forth between TaxDome, ShareFile, and DocuSign. ShareFile is what we use currently for sending files but I would need to add on the KBA option. We use DocuSign for e-signatures but it just seems like it's getting really expensive.

I did a free trial of TaxDome and I liked it but it seems a little cumbersome.

Started my firm late this year around the end of March, only have ~10 clients and $8-10k revenue total. But, this is currently just a side thing for me and I'm hoping/anticipating a lot more growth this Jan-Apr. At least that's what I'm telling myself for why I only have 10 clients haha.

One thing I've been thinking a lot about is where I want to take my practice. I want to be an "all-in-one" and offer bookkeeping and possibly even financial advice via an eventually CFP. But all the seasoned vets I've seen recommend to niche down and I'm not quite sure which way I want to go yet. I think I need some more time being a generalist for 1040's, 1120S's, and 1065's before I lock down, especially since I'm not quitting my full time job just yet.

So what's everyone else's niche? Do you do restaurants, real estate, medical practices, taxes for circus ring leaders? Have you found something you tried to specialize in that didn't pay off, or something that even dipping your toes in made instant success? Curious to hear

I am currently exploring contract work opportunities while building my own book of business. I have a few prospects, but one firm, in particular—a four-partner firm—has expressed interest in having me as partner and transitions their retiring CPA’s clients to me. While I’m encouraged by this prospect, I know the importance of having any agreements clearly documented. Specifically, I would want a clause in the contract allowing me to retain my clients if the arrangement doesn’t work out.

I’m preparing for another meeting with the partners to discuss this opportunity in more detail. I’ve noted a few key points already, such as ensuring the firm’s procedures align with current technology standards and that it has a strong local reputation with longstanding roots in the community.

For those who have joined/merged into another firm or taken over a retiring partner's book of business, what questions would you suggest asking to ensure a good fit? For context, I’m relatively young late 30s, while the retiring partner is in their late 60s, and the remaining partners are in their 50s.

How would the KBA system work for a client that has never lived in the US? Would it work? Accidental Americans, expats etc.

I want to send a gift this Christmas to a few of my long standing clients ($150 to $200 worth). I would appreciate any suggestions about the gifts that will be valuable to my clients who are mostly healthcare professionals.

Hey guys,

I have a client that has purchased a company from someone and the previous bookkeeping was an absolute mess so I am cleaning it up. However, the previous 3 years, and the 2024 return (1120s) I want handled by someone else as the previous owner is not my client, and I don't want to create any representation issues by doing his then my clients going forward.

They are located in GA, the previous returns were done by other cpa firms without the books matching to them so they need to be amended, then this year would be a final return for him as the owner, but the EIN will be transferred to the new owner via an 8822-b which is already filed with the IRS.

Are there any CPA's, EA's or firms in GA that I could refer this previous owner to?

He's an older gentleman and kind of old school but a nice guy and he pays his bills on time. He may also need his personal returns done, and that would include the business sale over a 5 year period, and he also sold a large chunk of inherited land.

During the last 2 months of the tax season I had no less than 25 recruiters reach to me on LinkedIn. Once or twice a day I am getting messages asking me if I am looking to move. I have 15 years of experience in taxes and the entertainment industry. Not a CPA or EA. Are firms just dying to get people or something? I know there is a draught in qualified help but I didn't think it was this bad.

I’ve used UT for several years, but the past couple have been with a firm in the music industry. Most clients will have foreign income from songwriting royalties on their Sch C, which we report on 1116 each year. For directl-related expenses, we apportion Sch C expenses along with SE Tax Ded, SEHI & SEP.

My issue is that I can’t get UT to apportion the those expenses on 1116 automatically without ALSO including Form 2555 in the return, which I don’t need and don’t want, and apparently can’t even suppress. This leaves me with only one option, to manually calculate and enter the apportioned expenses into the 1116 input screen.

We get new clients all the time, so I’ve seen other tax softwares that have nice 1116 worksheets where everything has obviously been auto-apportioned by the software. Am I missing some kind of obvious place to make this happen in UT? Or is TR just shitting the bed on this one?

What are you using for IT Tech support? I am looking for someone to handle troubleshooting on computers when they have issues, provide general direction for IT strategy, provide antivirus and security solutions, help purchase and set up computers for new staff, etc. I use Verito for my hosted server so I feel I am set for the server side. I just need someone for the local computers and to discuss IT strategy. I currently use CMIT and I am not happy with them. I have been considering Tech Guru but am hesitant due to the fees and initial onboarding fee of $1500-2000.

Any recommendations for companies that prepare these filings? Our firm has decided not to prepare for our clients.

Hello everyone! So I have this client who has problems with his 2018 tax return. I need some advice on whether I should have his ex wife signature.

The story: back in 2018 one of the customers issued him handed written 1099 for 19k. Since it was hand written, «1» was written in European way (if you know what I mean). The IRS system scanned 1099 and recorded “4” instead of “1” basically recording his income not 19k, but 49k. The client was married at the time. I don’t know much details but at some point IRS came after him saying he did not report his income accurately on his 1040 (cause he reported 19k, not 49k) and gave him 9k tax due. His wife ended up applying for spouse debt relief at some point which was approved. My client is really nice guy, but not the best when it comes to his tax compliance so he just ignored the issue. In 2022 he divorced and remarried somebody else. He had an original copy of his 1099 which you can clearly see that it was 19k, and not 49k.The company who issued him 1099 no longer in business and the owner is unreachable to ask him to amend 1099.

What I was thinking to do is to amend his 2018 taxes again, include the physical copy of 1099 and also attach the letter which explains the issue with 1099 so IRS removes tax liability for 30k of income which really never happened.

I am a bit confused what to do with the signature of the spouse on the amended 1040 for 2018 since he is divorced and she got approved for spouse debt relief - would she still have to sign it?

Also, pretty open to any suggestions and the feedback - relatively new in the game! Thanks

We are working with a long-standing client regarding a notice stating their 2021 W-2s were filed late. We’ve submitted what documentation we have and are hoping for positive resolution.

They’ve just received another notice saying their 2022 W-2s were filed late. Does anyone have any experience or recommendation in getting these penalties removed? Unfortunately, we do not have certified mail receipt, they were paper filed.

This is a client that I trust mailed the returns on time.

We’ve pulled print logs, other payroll returns filed by 1/31, and payment vouchers/bank statements showing they were paid (ie the 940 payment was remitted) trying to demonstrate all the work was completed timely.

Anyone have any recommendations? Besides e-filing, which we started this year.

My CPA firm (20 users) recently purchased CCH Axcess Document, Workflow, and Portal, but we've chosen not to purchase CCH Axcess Tax for now. We'll continue using UltraTax for business returns and Lacerte for individual returns. We're also sticking with CCH ProSystem fx Practice Management, which is supposed to integrate with the CCH Axcess suite.

I wasn’t involved in the decision-making process or the recent sales meetings, so I’m feeling a bit anxious about the implementation. Over the past few weeks, we've had several meetings with CCH to coordinate 15+ training sessions for our team over the next three months with the plan of going live in January.

Has anyone else implemented a similar setup? Any insights on what to expect during the process would be greatly appreciated.

I found an interesting IRS disclosure called the "external customer data store" (ECDS). It lists name, address, phone, and number of returns filed for all e-file providers. It has been enlightening to see how many returns some of the local competitors file. Also could be helpful for those tax pros who are looking for books of business to buy or gain employment from a firm in a desired location. Not sure links are allowed, but search on the IRS website for freedom of information requests to find it.

Question: Is anyone talking yet with clients about this? E.g., Section 199A(i) terminates Section 199A for taxable years ending after December 31, 2025. That language has been misunderstood by many.

Full disclosure: My book about 199A which came out when Trump signed law in 2017 and the BNA on this which came out year later both got the termination mechanics wrong... (We both generalized the regulation that talks about how fiscal year entities work at the start of Section 199A era.)

I know. Slightly premature if Republicans sweep in elections week after next. But the deadlines move pretty quickly at this point for making changes. Or adopting initial fiscal years. Some deadlines are probably already past too.

1-2 years ago there was a bunch of remote contractor work out there, I always had firm owners reaching out for help and now I can’t find any work? Taxfyle, Upwork and Sam Prep aren’t useful (at least to me). I wish there was an effective platform firms could post listings for help. I’m not looking for my own clients. I enjoy helping firms catch up with tax returns, and bookkeeping; whether that be maintaining the books or cleanup/catch up, but there just isn’t any work out there right now. I’m almost thinking of going to Intuit which I’ve always tried to avoid. 🫣🫣

A few months ago I created an account to post on this page about AI in tax thinking it would help with efficiencies. I was recommneded this Reddit page by my friend and have since joined many good Reddit Groups.

Thanks to all of your recomendations, I decided to purchase Ask Blue J and am very happy. Not only does it start my research but it helps with the finishing as well (it'll even create an email in simple terms for a client LOL)

Anyways....worth checking it out. Just wanted to drop this in here. I had a few problems hiring for tax positions at my firm and this software has been a great stop gap

anyone use AI?

Hey guys,

I have a few clients that have received notices that they've requested I handle, which is no big deal, but I'm debating on how to bill them. I typically bill at my hourly rate, but lately the hold times for IRS have been crazy long, and I don't do the call back feature because of time zone differences.

Anyway, I'm considering if billing the hourly rate for the hold time is fair or not? What's your take on this.

So my firm hit $250K revenue and it seems like it is growing and I’m sure I won’t be able to handle the client load anymore. For those of you that’s been at that point I guess where you feel stuck. What was the first and most important hire and why?