To join in on this discussion, you must first log in.

Discussion:Don't Let This Happen to Your Client

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

Jump to: navigation, search

Discussion Forum Index --> General Chat --> Don't Let This Happen to Your Client


Wonder Woman USA (talk|edits) said:

4 April 2009
I hate to nag my clients.

This gal bought a good dress shop and in 2007, grossed more than a million. She had a really bad bookkeeper/tax practitioner who never told her she might want to make some estimated tax payments. (Well, actually, the bookkeeper appears to have been addicted to pain pills .. another story for another time).

So, when I did her tax return, she owed $112,000. Yike!

I told her she needed to make an Installment Agreement with the IRS, and gave her the form. Of course, the IRS sent her a 433-F, for her financial details ... and she procrastinated and procratinated. I asked her at least twice a month for those financial details. Meanwhile, she sent the IRS $2000 every month, against this tax bill and she kept her quarterly estimates up to date.

She got a Notice of Levy and still didn't finish the financial details.

So on April 1st, the IRS levied her business bank account and took $68,000. Finally got her attention... she filled out the papers and we overnighted them to Bensalem. After many phone calls, IRS released $25,000 from the levy, so she can pay her business rent and the employees.

I've just finished her 2008 tax return and her refund is around $40,000, which will cover most of what she still owes. But she'd been camped out in my office for two full days, during which about the only thing I accomplished was talking to the IRS and passing her the box of tissues to dry her tears!

So remember, folks, if the IRS wants those 433s, tell your client what can happen if they procrastinate!

<It must be time to walk away from the computer...>

Gretchen

Kevinh5 (talk|edits) said:

5 April 2009
seems you gave good advice but the client didn't think it was important enough.

I hope you charge her two days worth of your tax season time, which might be $2,000-$5,000 or more. Seems she could have gotten this done earlier for about $400, right?

CrowJD (talk|edits) said:

5 April 2009
When you consider the mark-up they get on these dresses, the 2 to 5k sounds like a bargain to me.

Natalie (talk|edits) said:

April 5, 2009
Gretchen, I guess some people just have to learn the hard way.

I'm a little concerned about Crow. If you've read many of his posts, you know he's led quite an exciting life. He's been around the world and has had experience in so many different careers, I lost track after I ran out of fingers to count them on. But now, now we learn that he also knows a lot about dresses, and well, that's a little disconcerting.

Kevinh5 (talk|edits) said:

5 April 2009
I'm sure that Crow was just following the advice given to Cinderella: 'If the shoe fits....'

CrowJD (talk|edits) said:

5 April 2009
Well, now that we are on the subject, what I'm really floored about is the price of a lady's pump!

Give me an unshaven German gal in a cotton dress and Birkenstocks any day, I'll take it!

Death&Taxes (talk|edits) said:

5 April 2009
I hope she isn't proposing to pay you with clothing.

Fsteincpa (talk|edits) said:

5 April 2009
See Crow, I used to kind of think of you as this man of men worldly kind of guy. hell, I can even get past the pump wearing dress fitting scenes poppin through my head cause I justify it as just trying to get some emphatic assistance into the minds of women. But this new <or possibly old> fascination with the unshaven area of the pits of the german steroid taking birkenstock, well that just ends it all right there. I can understand bein old fashioned about those other shaven/unshaven thingamajigareas, but I must formally draw the line when her pit hair can be braideed.

Wonder Woman USA (talk|edits) said:

5 April 2009
Natalie, I'm in San Francisco...we never know who might be in the next changing room at Macy's! It's enough to not make me wonder about Crow. <grin>

No, she's not going to pay me in clothing; her store doesn't carry my size, unfortunately. And I am going to take my time about billing her; I'll give her time to get out of the financial hole created in her cash flow.

Have a nice day, folks, and thanks for cheering me up. Only three appointments today ... it's Sunday.

CrowJD (talk|edits) said:

5 April 2009
When I was in my early 20's, I fell asleep on a train from Amsterdam to Frankfurt. I woke up to find several young German women, dressed in cheerleader skirts, standing over me, unshaven, and wearing no Unterwäsche under their skirts. I got involved in some serious foreign relations, which took quite of bit of diplomacy to get out of before we arrived in Frankfurt.

This was long before the Gillette company convinced ladies to shave their Biber (or males their Eichhörnchen).

To join in on this discussion, you must first log in.
Personal tools