Guest hitoallusa Posted December 21, 2011 Posted December 21, 2011 Ugh... Too busy to file tax amendment so decided to pay interest and penalty. The economy is bad and the US is not doing well so decided to give more. I hope they use it well. Merry Christmas the USA! Quote
Members RA1 Posted December 21, 2011 Members Posted December 21, 2011 I am glad someone has more money than time. I used to know a lot of those folks but, lately, not so many. Best regards, RA1 Quote
Members OneFinger Posted December 22, 2011 Members Posted December 22, 2011 Ugh... Too busy to file tax amendment so decided to pay interest and penalty. The economy is bad and the US is not doing well so decided to give more. I hope they use it well. Merry Christmas the USA! I tried doing my own taxes one year and it was way too complicated for me. But, rather than pay interest and penalty, I hired a tax professional to take care of it for me. (And, I'm not talking about a company like H&R Rip-Off, or Liberty Tax.) The CPA firm I hired has now become one of my best friends. And, I really like their business slogan, "Use us when you care enough to send the very least". Quote
Members seattlebottom Posted December 22, 2011 Members Posted December 22, 2011 Make sure that CPA firm isn't off shoring your tax returns. Most CPAs I know are not tax experts. Quote
BiBottomBoy Posted December 22, 2011 Posted December 22, 2011 Who gets blamed legally if a CPA fucks up, the CPA or the person who hired them? Quote
Members TampaYankee Posted December 22, 2011 Members Posted December 22, 2011 Who gets blamed legally if a CPA fucks up, the CPA or the person who hired them? The Taxpayer is ALWAYS responsible. Ask Wesley Snipes when he get out of the Big House. Quote
Members OneFinger Posted December 23, 2011 Members Posted December 23, 2011 Make sure that CPA firm isn't off shoring your tax returns. Most CPAs I know are not tax experts. The CPA firm I use is an "enrolled agent". That means they are certified to represent me with the IRS. You're right, not all CPAs are tax experts. I made sure to get the best and they've served me well for years. Quote
Guest tomcal Posted December 23, 2011 Posted December 23, 2011 I agree with Onefinger!! I have been audited twice, and the first time came out of the audit with the IRS owing me money!!(too long to explain here but due to a very good CPA! and they ended up owning me $3500.) One tip for anyone who gets a audit! First thing to do is request a change of venue! even if they say its at an office close to your house! Tell them is a logistical and financial hardship for your accountant to go there(never go yourself!) It takes them 3 months to move a audit, in my case in my 2nd audit it went from Laguana Niguel IRS office to the So.LA. one., roughly 40 miles! and historically the IRS loses 40% of the audits they transfer!! They called me and said "we lost your file, we need a copy!" I go "gee you got my only copy!" they said "when we find it your in here for an audit!" that was 12 years ago! so far no call! Quote
Members BigK Posted December 23, 2011 Members Posted December 23, 2011 I agree with Onefinger!! I have been audited twice, and the first time came out of the audit with the IRS owing me money!!(too long to explain here but due to a very good CPA! and they ended up owning me $3500.) One tip for anyone who gets a audit! First thing to do is request a change of venue! even if they say its at an office close to your house! Tell them is a logistical and financial hardship for your accountant to go there(never go yourself!) It takes them 3 months to move a audit, in my case in my 2nd audit it went from Laguana Niguel IRS office to the So.LA. one., roughly 40 miles! and historically the IRS loses 40% of the audits they transfer!! They called me and said "we lost your file, we need a copy!" I go "gee you got my only copy!" they said "when we find it your in here for an audit!" that was 12 years ago! so far no call! Tomcal, A heartwarming story. I think maybe more likely to have happened 12 years ago then now ... every things digitalized these days. But still worth a try! Quote
BiBottomBoy Posted December 23, 2011 Posted December 23, 2011 Ah. Government. It never changes. Quote
Guest hitoallusa Posted February 24, 2012 Posted February 24, 2012 I wrote a friendly letter to an IRS agent assigned to my account and explained to him the mistakes I have made in my investment reporting. Amazing I got a letter today and it is settled with a small nominal interest charge compared to what I had to pay. Should I change my career to become a CPA? Anything I'm glad that it is settled. Thank you all for your advice. Quote
Guest EXPAT Posted February 24, 2012 Posted February 24, 2012 I wrote a friendly letter to an IRS agent assigned to my account and explained to him the mistakes I have made in my investment reporting. Amazing I got a letter today and it is settled with a small nominal interest charge compared to what I had to pay. Should I change my career to become a CPA? Anything I'm glad that it is settled. Thank you all for your advice. This is one reason I hired a tax accountant that knows investment accounting inside and out. It has been worth it, especially since my returns have been over 3" thick every year. That alone is stupid. . . Quote
Guest hitoallusa Posted February 24, 2012 Posted February 24, 2012 This year I'm not filing it so early. I just like doing taxes myself. Quote
Members JKane Posted February 24, 2012 Members Posted February 24, 2012 I have a tax accounting firm that is specialized for my industry, was referred by co-workers. They are miracle workers, probably paid their increased fee 10x over in what they've gotten me back. Quote
