Anyone have clients donate to Uncle Sam?
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Anyone have clients donate to Uncle Sam? -
Had one once upon a time. He was an MD, U S army major, local Ft Benning hospital,
and routinely paid routine organizational expenses not paid for by the army, e.g. dry cleaning of unit colors and streamers. This was back before the 2% floor so the deductions were
very worthwhile.
Plus I insisted he get a formal thank you note with $ amount in it from the commander.ChEAr$,
Harlan Lunsford, EA n LA -
I had a man give a couple of thousand a couple of years ago. We determined he had four years of tax returns prepared incorrectly. We prepared them correctly and sent them in with full payments. I told him one of the years was closed and the IRS should send the money back, and sure enough, they did. He said that since he owed it he would send it back as a contribution and he did.Comment
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This has been in the Income Tax Instructions for years, but seldom gets mentioned anywhere. I had some fun with it back when the first rebates were announced. I cut the little info box out of the tax instructions with the page reference and would carry it around with me. Anytime some blowhard would start bragging about "This rebate isn't enough to do any good" or "They don't need to send me a rebate - they ought to pay down the national debt", I'd hand them the info and suggest that they follow through with some action to back up their empty words. Funny thing, nobody ever took me up on it."The only function of economic forecasting is to make astrology look respectful" - John Kenneth GalbraithComment
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