my dad had this check in his work office. He was close friends with Bill. Story is that Bill didn’t want to get paid for 1988 but the company said they had to pay him so they could cover his health insurance. He said to pay him $1. @Nike@NikeUnleash#Nike
@AmandaMcada @MikeSyl36625988 Mine involved an audit too. During the initial meeting the agent said that Fidelity (that is who the DAF was through) wasn’t a 501c3 and we would have to provide documentation for where the money went when it left the DAF. I was flabbergasted…
@baldridgecpa Don’t make bad business decisions to get good tax outcomes. I don’t know how often I have to remind clients it is about cash flow not tax savings. Sometimes you end up with more cash but pay more tax…and that is okay
@MikeSyl36625988 @AccountingAsArt I had a former client complain that the 1040 said “Spouse” on the top of it where it lists the taxpayers. She wanted it to say Taxpayer 1 and Taxpayer 2. I said I couldn’t do any thing about that and she was still upset with me.
@WTFoote 1/ As I think about it more, filling out / filing BOI reports I believe goes beyond just filling in / entering information. You are also making a determination as to whether an exception is met or not for filing, who is considered a BO, etc based on law.
@Kevin_C_Bell@WTFoote 1/ To go along with that FinCin and the IRS are two different bureaus / departments of the Treasury. FBARs are a FinCin reporting requirement specifically administered by the IRS and this information is collected and on tax returns.
@MikeSyl36625988 @SmithMatthewC that is why it is not considered UPL. The new beneficiary report is also reported to and ONLY collected by FINCIN not by the IRS. Therefor the beneficiary reporting is not a tax function (since the info is not collected by the IRS) and may be UPL.
@MikeSyl36625988 @SmithMatthewC One thing to consider is that FINCIN and the IRS are two different branches of the United States Treasury. FBAR is required to be report to FINCIN but the information is collected by the IRS and that is why they are included on tax returns and