Discussion:Disclosures for 2007 tax year
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Discussion Forum Index --> Basic Tax Questions --> Disclosures for 2007 tax year
Discussion Forum Index --> Tax Questions --> Disclosures for 2007 tax year
Nancyshoemake (talk|edits) said: | 2 February 2008 |
| Just wondered if you guys are using form 8275 more this year than previously. I may be going overboard but in the past would probably fill out the form .15% of the time. This year already used it 3 in 50 returns. Feedback? | |
RoyDaleOne (talk|edits) said: | 2 February 2008 |
| If you need it you need it.
The IRS is trying to make tax preparers part of the enforcement arm. | |
Death&Taxes (talk|edits) said: | 2 February 2008 |
| What kind of situations have you run into that you need this form? Are your clients aware of what it might mean? I am not making a judgment, but have only prepared six MMLLC returns thus far this year, plus cleaned off a few 2005-06 returns with nothing that would even bring such to the fore so I have yet to get into the turmoil, but I think you must ask yourself, 'who am I working for, who am I representing?' | |
| 2 February 2008 | |
| IRS' computer has an "AUTOMATIC" flag plugged into the module of all filed returns. This is so that certain types of filings are automatically added to the pile if DIF-selected returns for review. If not an "automatic" so far, IRS can make attaching 8275 an automatic effective on any given Monday A.M. I would therefore suggest an 8275 should not be attached unless we really are taking a technical (not mere factual) position which is objectively marginal, and the tax impact substantial. IRS does not have a workable enforcement mechanism to go after a preparer on isolated instances on run-of-the-mill returns (relatively small taxpayers). When I see they actually develop one which works (we'll hear about reputablepreparers getting slapped), then I'll worry. | |
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