Will it do any good to file an extension for 2013, when the TP has not filed 2010, 2011, or 2012? He has filed extensions for all those years. How long can this go on?
-
-
If the client asked for it, do it. You don't want to be pointed at by the client if you don't. His filing is his problem.Last edited by BOB W; 04-15-2014, 02:29 PM.This post is for discussion purposes only and should be verified with other sources before actual use.
Many times I post additional info on the post, Click on "message board" for updated content. -
Every extension stands on its own for each year. File the extension and get 6 months to file the return. Go over that and the penalties start, but only at the expiration of the extension period. So right now he is looking at a 25% FTF penalty for all years except 2013. But the 2013 extension will still give him until Oct 15, 2014 to get it done without a FTF penalty. Too bad he didn't come to you in Jan or Feb - he could have limited the 2012 penalty to 15% or 20%. Not that he seems to care that much..."The only function of economic forecasting is to make astrology look respectful" - John Kenneth GalbraithComment
-
Well, since he hasn't paid me for any of the prior years, I am not inclined to keep doing it.Originally posted by BOB W View PostComment
-
I have one that is doing this. Thing is he has picked up his prior year returns, not mailed them. Then last year I could efile the return, he did not sign the forms and return them to me. I got my money up front. I was filing extensions for him, probably two years, I am not going to this year. He owes and I guess is just waiting for it to blow up.Comment
-
Extension
Your client wants an extension of time to non-file his return?
LMAO
BMKBurton M. Koss
koss@usakoss.net
____________________________________
The map is not the territory...
and the instruction book is not the process.Comment
-
send him a bill for the extensions you have filed.Believe nothing you have not personally researched and verified.Comment
-
Well, if you keep filing his extensions, one year he might show up with some IRS letters asking for a million dollars and want you to file all those returns, in which case your hourly rate can double and you ask for half up front before lifting a finger.Originally posted by Burke View Post
If you stop filing his extensions, the year IRS sends him a letter asking for a million dollars, he goes to a new preparer and you don't get to charge big bucks to help him.
I guess it all depends on how busy you are during the off season when non-filers show up needing help.Comment
-
Pay now - file later
We have a client that is a variation on this theme. He has not filed since 2010, but he has made extension payments from $30,000 to $70,000 each year. He just contacted me to let me know that he'll have the data to me first of the week to do all three years. Been doing it like this for many years. Never a question from IRS, except for penalties if he under pays the extension.Comment
-
Given those amounts, he isn't a simple procrastinator.
My guess is that he may be dong something illegal.
And if it ever surfaces, you may find yourself dealing with someone besides the IRS."The only function of economic forecasting is to make astrology look respectful" - John Kenneth GalbraithComment
-
He's totally legal. Just so busy that he never gets his books finished on time. He has a business that has been very profitable, but takes a great amount of time to properly take care of his customers. He's probably one of the most honest people that we deal with. Just slow when it comes to the books. If it doesn't bother him, it doesn't bother me. It's his money.Comment
-
He needs a bookkeeper.Originally posted by TaxmannEA View PostBelieve nothing you have not personally researched and verified.Comment
Comment