forms
WHERE CAN YOU SEARCH FOR FORMS IN THE SOFTWARE?
TOP LEFT CORNER ABOVE THE BASIC INFORMATION TAB
CLIENT STATES HE OWE CHILD SUPPORT BUT HIS REFUND IS $8K. WHATS YOUR NEXT MOVE AS A TAX PREPARER? WILL YOU COLLECT UP FRONT ?
I NEED MY MONEY UPFRONT ! AND ASK FOR A COPY OF HIS PAPERWORK TO SEE HOW MUCH HE OWE... CALL THE OFFSET LINE
WHAT FORM DO YOU USE TO AMEND A TAX RETURN?
FORM 1040-X
CAN YOU FILE A TAX RETURN WITH A PAY STUB
NO, BECAUSE THE NUMBERS ARE DIFFERENT ON THE W2
CAN A CLIENT STILL CLAIM EIC IF THEY ONLY GET PAID WITH CHILD SUPPORT
NO, EARNED INCOME ONLY APPLYS IF YOU EARN INCOME!
WHAT IS FORM 2441?
CHILD CARE CREDIT
CLIENT WANT TO CLAIM HER LITTLE COUSIN AS HER NIECE/NEPHEW, WHAT DO YOU SAY?
THATS A AUDIT WAITING TO HAPPEN , GET SOMEONE ELSE TO DO IT
A CLIENT SAYS THEY ALREADY GOT A ADVANCE LOAN FROM A DIFFERENT TAX PREPARER CAN YOU STILL FILE THEM?
NO, UNTIL THE OTHER TAX PREPARER RELEASES THE HOLD.
WHAT FILING STATUS GETS AUDIT THE MOST BY THE IRS
HEAD OF HOUSEHOLD
FREE QUESTION
MADE UP QUESION
WHAT IS FORM 1099-G ?
gov form for mostly unemployment or sometimes taxable grants
CLIENT STATES " MY OLD TAX PREPARER GOT ME $15K" LAST YEAR WHY IS MY REFUND ONLY $3K THIS YEAR
OUTLINE THE CHANGE INCOME AND CREDITS, YOUR REFUND WILL NOT BE THE SAME EVERY YEAR
WHAT DO YOU DO WHEN YOU GET A REJECTION?
JUST READ THE REJECTION CODE IT WILL TELL YOU EXACTLY WHY IT REJECTED AND JUST FIX IT
WHAT HAPPENS WHEN A CLIENT REPORT ALOT OF DONATIONS WITH VERY LITTLE INCOME?
IT WILL TRIGGER A AUDIT
FREE QUESTION
MADE UP QUESTION
WHAT IS THE DIFFERENCE BETWEEN 1099-MISC & 1099-NEC FORM?
1099-MISC IS FOR "OTHER" INCOMES LIKE PRIZES OR AWARDS , RENT PAYMENTS , A RADIO STATION GIVES $2500 VACATION ETC....
1099-NEC - INDEPENDENT CONTRACTOR WORK, LIKE BEING A TAX PREPARER BUT YOUR NOT AN EMPLOYEE
CLIENT SAY THEY ARE SELF- EMPLOYED (CASH) WITH NO DEPENDENTS, CAN YOU HOOK ME UP?
HELLLL NAH LIL DADDY GET SOMEBODY ELSE TO DO IT!
WHAT FORMS DO YOU NEED TO COLLECT FROM EVERY CLIENT?
ID , SSC , BILL(IF CLAIMING HOH) W2,1099 OR WRITTEN RECEIPTS/EXPENSES. THEY NEED TO HAVE PROOF OF EVERYTHING!
WHAT DOES EVERY TAX PREPARER NEED TO FILE TAXES?
A PTIN
WHATS RISKY ABOUT NOT REPORTING ALL INCOME ? 1099S , W2S
AUDIT TRIGGEER, THE IRS ALREADY KNOWS ALL YA INCOME. DON'T LEAVE NOTHING OFF
WHAT IS FORM 8867?
DUE DILIGENCE, THIS FORM BASICALLY MAKES YOU PROVE YOU ASKED QUESTIONS.
HOW MANY CLIENT WILL YOU GET IF YOU DON'T TELL NOBODY THAT YOUR DOING TAXES? OR MARKET YOURSELF?
NONE! CLOSED MOUTHS DON'T GET FED BOOKIE!
WHAT FORM DOES A TAXPAYER USE TO REQUEST AN EXTENSION?
FORM 4868
BY WHAT DATE MUST W-2S BE MAILED OUT BY EMPLOYERS?
JAN 31
DOES A INDEPENDENT CONTRACTOR STILL NEED TO GET A 1099NEC IF THE MADE LESS THAN $600?
NO