Check Stubb

[amonEA]

This might be a stupid question but i have had a lot of people ask me if I would prepare their taxes off their last paycheck stubb? My answer was no! But I asked them to bring it in and I would review it and see if I could make everything match!! Well a couple of them I have done their taxes for them in prior years and have their EIN and everything matches! Should I still tell them to wait for their W-2's?

[ecb34691]

Start it and place on "hold" until W-2 comes. This way you've "got um" and they know what type of refund they are looking, If w-2 doesn't come by 2/15, then you can send as a substitute w-2.

[Larmil]

This might be a stupid question but i have had a lot of people ask me if I would prepare their taxes off their last paycheck stubb? My answer was no! But I asked them to bring it in and I would review it and see if I could make everything match!! Well a couple of them I have done their taxes for them in prior years and have their EIN and everything matches! Should I still tell them to wait for their W-2's?

The IRS does. Quote from irs.gov "When filing electronically taxpayers must provide Forms W-2, W-2G, and 1099-R to the Authorized IRS e-file Provider before the Provider sends the electronic return to the IRS. Providers are prohibited from submitting electronic returns to the IRS prior to receipt of all Forms W-2, W-2G, and 1099-R from the taxpayer. Taxpayers filing electronic returns using a personal computer enter the data from the forms into the electronic filing software themselves."

[fliszt]

amon,

I don't think your question is dumb at all. BECAUSE I did a similar thing maybe a dozen yrs ago. I had a client whose taxes I prepared for several years. One year she called (like on April 15, I'm guessing) and said she couldn't make it to her appointment. She asked if I could prepare her taxes if she would read the information to me over the phone. I knew from the past what deductions she would have, so I said sure. I asked her for all the pertinent info on the W2. and deductions, (all the sched A stuff). She also said she had Mrs. xxx child care expenses. Ok, took that info too. She stopped over and signed the efile form later that night. Six months later or so, she called and said she had a ltr from the IRS saying she owed $xxx. Read the info to me and I said "you didn't tell me you had dependent care benefits on the W2." She said I didn't ask for that specific box. I said I was very sorry, but trying to do her a favor over the phone wasn't a good idea. Guess what. I lost a very nice client.
Live and learn.
Larry

[BOB W]

I don't think your question is dumb at all. BECAUSE I did a similar thing maybe a dozen yrs ago. I had a client whose taxes I prepared for several years. One year she called (like on April 15, I'm guessing) and said she couldn't make it to her appointment. She asked if I could prepare her taxes if she would read the information to me over the phone. I knew from the past what deductions she would have, so I said sure. I asked her for all the pertinent info on the W2. and deductions, (all the sched A stuff). She also said she had Mrs. xxx child care expenses. Ok, took that info too. She stopped over and signed the efile form later that night. Six months later or so, she called and said she had a ltr from the IRS saying she owed $xxx. Read the info to me and I said "you didn't tell me you had dependent care benefits on the W2." She said I didn't ask for that specific box. I said I was very sorry, but trying to do her a favor over the phone wasn't a good idea. Guess what. I lost a very nice client.
Live and learn.
Larry

That's what I like about CS's Ultra Tax > it highlights all boxes that had a entry from last year. Even with a W-2in your hand something like that can still be missed. I've seen some wierd W-2 where the info is non-standard. It drives me crazy because I need to spend extra time just to make sure I'm picking up the right data for the right box.........

[amonEA]

Thanks

Thanks for your help!