Posts by Timothy Morgan38

Henry Edwards33 said:It feels like I’m the only idiot who isn't doing this 😠

It’s the same thing in the end if you're trying to write out every little detail... I just don't have the energy for it...

And if there's some kind of issue where things aren't being fully written off... I'm setting that at a 3...

vitas said:I’ve got this one client who hasn't bothered tracking small inventory items. Instead of booking supplier invoices to assets for depreciation and eventual write-offs, they just dump everything straight into expenses... basically, the invoice is booked as

/2200
1400/
4040/

They've been doing it this way for years... is that actually okay?

To be honest, that's how I've always handled it😍 and I don't see any reason to change since I end up writing off the entire inventory every single year anyway...

Timothy Morgan38 said:So far, I've submitted two powers of attorney, and both are marked for full management of all authorizations...

2 Patrick Peterson49

For my first client, it's telling me I'm not authorized to receive FARC info
For the second client, when I try to request FARC info after waiting a few minutes on the "sending message to the IRS" screen, it says ERROR 404

So, I just requested authorization for this second client (ERROR 404), and I got a list clearly stating I have unlimited authority for all the listed actions...

But for the first guy, the moment I try to send it, it tells me I'm not authorized to sign the request

Finally sorted that part out... turns out the folks over at University of California, Berkeley misplaced the paperwork and never actually processed the power of attorney...

Here’s a little update—might be old news to some of you, but hey, it can't hurt to have it on hand...

Just so we're clear: you can drop off written powers of attorney for your clients at any IRS office, regardless of where the client is actually based...

For instance, if the bookkeeping is handled in Washington, D.C., but the client's headquarters and primary branch are out in Seattle, you can just file that power of attorney right there in D.C. without any hassle...

Make sure to fill out three copies of the power of attorney...

Patrick Peterson49 said:I honestly have no clue what the issue is 😕—I filed ten different powers of attorney and they all cleared within two days at most...
maybe the guy over at the IRS just messed something up 🤷

I actually managed to track down the issue for the other client—the one getting an ERROR 404... apparently, some extra certificate or part of a digital credential from the bank was supposed to be assigned automatically, but for some reason, it just didn't happen... the guy there clicked two buttons and now everything is fine...

As for the second client where I don't have authorization... he thinks they probably haven't entered the info at the IRS yet because sometimes it takes them four or five days to process authorizations—especially since I didn't hand over a physical USB when submitting the paperwork; I just dropped off the paper version...

We'll see how it goes in a few days...

Kimberly Harris6 said:Well, a woman at my local branch told me a few months back that every time I bring in a power of attorney, I have to bring my ID card too; she swipes it through her reader, sets everything up, and within 24 hours, everything is working perfectly...
Look, I'm looking at your screen right now... you have the business entity authorizations listed below... try entering the SSN for those clients who are giving you trouble, hit send, and then you should get a list showing exactly what you're authorized to do with your card. For all my clients, I have full access... maybe you specified certain things on the paperwork and accidentally left something out on the POA? I always select "YES" under authorization management, which means you have unlimited access for an indefinite period, and you can cancel the service whenever you want.

So far, I've submitted two powers of attorney, and both are marked for full management of all authorizations...

2 Patrick Peterson49

For my first client, it's telling me I'm not authorized to receive FARC info
For the second client, when I try to request FARC info after waiting a few minutes on the "sending message to the IRS" screen, it says ERROR 404

So, I just requested authorization for this second client (ERROR 404), and I got a list clearly stating I have unlimited authority for all the listed actions...

But for the first guy, the moment I try to send it, it tells me I'm not authorized to sign the request

Raymond Martinez10 said:I just punch in the client's Social Security number to look up the FARC info, sign the paperwork, and that's about it...
I can't really help you 🤷, sorry

Thanks, I tried entering it that way too and it still won't work... I'll try calling back tomorrow to figure out what the hell is going on...

Raymond Martinez10 said:If I recall correctly—back when I was heading out from the IRS office—the system was already up and running. Can't you just open one of the client accounts, or are you honestly telling me you haven't managed to get a single one open yet?

I can manage my own stuff, sure, but for these two people I submitted power of attorney for, I can't even get in... honestly, I have no clue how this is supposed to work... should their Social Security numbers be listed somewhere—like in the authorization documents or something?

All I know is when I try to look up FARC, I get nothing... it tells me I don't have authorization

yet the guy at the IRS office insists that I definitely do...

On that screen labeled "Business Entity Authorizations," am I supposed to see a list of all my clients' SSNs for whom I hold power of attorney, or....???

Kimberly Harris6 said:It’s definitely more cost-effective. You just have to weigh the savings against how much time you actually save—not to mention the headache of having to drive back down there if you messed up a form. As for those Social Security and retirement filings? This card is a lifesaver in every sense. I've been using it for about four years now and haven't found a single flaw.

Back to my ongoing battles with the IRS... The power of attorney for a client was submitted and processed at the local office, but I still can't access the PKK for their SSN... The agent at the office insists the authorization has been granted and it shouldn't be an issue, yet I'm still completely locked out of doing anything for that specific ID...

Do I need to file some additional request through the IRS portal??? Or is submitting the power of attorney enough?

Because the authorization went through two days ago, and I'm still getting nowhere...

Raymond Martinez10 said:Don't forget to handle the power of attorney for your own company—I went ahead and sorted everyone else out and everything is running smoothly, but I still can't get my own e-filing portal open. 😂

😂😂😂 It wouldn't work for me on the first try either... eventually had to shoot them an email, and then they finally cleared it...

Patrick Peterson49 said:Nah, you don't need to deal with the portal... you can just start filing the forms right away...

Thanks🙂

Kimberly Harris6 said:Why don't you try digging through the IRS website yourself? You can actually see all the mismatched forms they send out. They really love making things complicated for the sake of "compliance."😉

I’ve decided. I am definitely not touching Regos again... maybe in a few years...

Wait, let me get this straight... once I hand over the physical power of attorney to the IRS, do I still have to jump onto the online portal and file that electronic authorization request for all those clients I just brought in paperwork for?

Kimberly Harris6 said:You are the proxy, so you list your own details because you're the one signing everything electronically. You can just add your company name after your name—that's how we handle it—and it clears without an issue every single time.

Oh, thanks a million... so, full name followed by the company name, then my Social Security number, right?

Thanks... now I get to go bury the IRS in paperwork...😂

Quick question regarding power of attorney...

I have my certificate from USA Swimming naming me as the authorized representative for my firm... so, since I’ll be the one handing in the paperwork on behalf of my clients, when I fill out the proxy form, do I list my company and its EIN, or do I list myself as the authorized individual along with my own SSN???

Any help would be appreciated. The "overly helpful" lady on the IRS helpline didn't exactly have a spare second to assist me...

Patrick Peterson49 said:I've only been using it for about 20 days myself...
it's got its ups and downs...
I filed my tax forms back in September and got the receipt saying they were received, but it tells you to check later to see if they actually cleared... so I went back on October 17th to check, and nothing—nothing at all (even though I filed on the 30th)—🙂 I called my agent at the IRS, and she's basically like, "Oh, you forgot to check a box." 🤣 so yeah, it really just comes down to which clerk you get... plus, I just finished my sales tax filings and it says "processed," but when I look at my account, there's still no balance updated🤷
it's cool that everything gets done way faster and the software is super easy to navigate (at least for me)... man, if the developers could just let us import our forms directly instead of having to type everything in manually, that would be a total game changer...

I already have the option to generate an XML file for all my forms to upload to the IRS system...

Patrick Peterson49 said:Man, I just tried it yesterday and yeah... it won't budge past 2010...

Thanks a ton...

Still waiting on that USB drive to show up in the mail, which is taking forever. Just gathering some intel now so when it finally arrives, I can act like a total pro and start tinkering immediately...😁

Raymond Martinez10 said:The law specifies VAT registrants—which means anyone meeting those revenue thresholds is included—but we’re stuck waiting on the IRS regulations and official guidance. We still have over 60 days before this actually kicks in.😉

Sixty whole days of waiting... and I bet they’ll drop the official guidelines at 11:45 PM on the 59th day. 🙂

Can anyone clarify how far back we can go when opening a card for an individual tax account? Are we limited to January 1st of this year, or can we look further back into previous years?

Kimberly Harris6 said:As of right now, you can't file a Schedule C through the IRS site. You can handle sales tax, excise tax, and various other business filings there, but nothing for those specific year-end forms... unless they decide to update the system soon.

They'll probably roll it out by the end of the year. Apparently, there's a mandate coming where anyone pulling in over $800,000 has to switch to electronic filing...

Since there’s clearly enough interest here to warrant a dedicated space, I’ve split these posts into their own thread. It should make things a lot easier to follow...

Moderator lili p.

Does anyone know if you can actually file a DOH form—or basically any final tax return for sole proprietors—through the IRS online portal?

While I’m sitting here waiting for my new security key from the bank to arrive in the mail, I’ve been digging through the IRS digital filing manuals... and I honestly can't find a single option for small business owners to submit their returns online.

Just to clarify: since the rule change on January 1st, does everyone making over $800,000 have to use the electronic filing system, or is that strictly for corporate income tax filers?

Hannah Harris6 said:Happy Easter, everyone! I really want to send a huge thank you to Underhood, Vitasica, and Lili P. for all the hard work and the helpful answers they've provided. Hopefully, I won't be bothering you all again until late autumn.

Thanks, and Happy Easter to you all too... just try not to go overboard on the ham and cookies... YEAH RIGHT!!!! 🙂