Charge for Kids Returns

[zeros]

Amending Child's Return -EF Parent's Return?

Guess my customers are not as complicated. 19 year old kid making couple thousand and getting back minimum that was withheld. Usually one or two W-2s no kiddy tax. And yes, I've cleaned up many where the kid already filed and claimed themself. Had one last year and when dad and mom showed up to file got a reject. Had to deal with all that so another good reason for me to offer to do it for them. Of course I did charge for cleaning up the mess she made by filing and claiming herself.

I understand that you would have to amend the child's return. How long to you have to wait so you can re-EF the parent's return?

[BOB W]

Parent's return has to be filed on paper and mailed. Amended child's return could take months to be updated.

[Bonnie]

One incidence last year, I sent in child's amendment probably Feb and waited til April and tried to Efile the parents and it went through. Just took a chance and guess the child's amendment had processed through system

[taxea]

Isn't it interesting how two preparers can run their businesses completely different, and they're both happy and successful? See, this wouldn't really work for me, as I am as busy as I want to be in the summer with my monthly clients, and really don't want to train others to do what I make a living doing. Also, this client is NOT such a good client, and I really wouldn't mind if he mailed his stuff to you, let's say. But, just out of curiousity, if Junior showed up in June asking for training on dealing with his capital gain income, what is your rate? Do you also cover kiddie tax, and if not, that's pretty sweet, cause when it happens, you'll get to do the amended returns. Oh. OH... I see now how it works, you fox, you. Nice...

Hey Rita I did say training in simple returns (1040 EZ). My hourly fee is $150 for training....think how much they will save in the long run.

[taxea]

I understand that you would have to amend the child's return. How long to you have to wait so you can re-EF the parent's return?

In reality probably up to 16 weeks. So you may as well file an extension for the parents, periodically check to see whether the kid's return is in the system and then file the parents. Or manually file it.