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Aprli tax season humor

Key tips and advice the working tax pro can use.
26-Feb-2016 10:14pm
Oakland CA
From Go System login in screen last week:

"We have discovered an issue with line 15a on Form 1041; the qualified business income deduction amount was not contained in the electronic submission to the IRS. All other numbers on the return were correctly filed with only this deduction. If you e-filed a 1041 Federal return before March 22 and have an amount for QBI on line 15a, please mark the return as superseded for e-file in the Organizer, recreate the e-file, and resubmit the return to the IRS before the filing deadline. If you need assistance on determining if you have return(s) affected, please contact Support."

Weren't there some other doozies about 199A (QBI) or 163j (interest limitation) from ProFx and UltraTax in the last few weeks?

And I thought it was safe to go into the filing water by now...


5-Jan-2015 5:34pm
Rogue Valley
Yes, Drake saw a change to 199 dividends last week. So all my outstanding returns with 199 dividends now have a different tax liability. As the change in the amount due is more than $14, I now have the task of providing the clients with new return copies and new siganture forms. Since some of my clients are older, live in other states and only do paper, this is not the best time to be doing this.

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