Posts by Raymond Martinez10

Using an e-card, you can upload everything to FINRA—including all those non-standard PDF documents—without needing a separate trip or paying extra fees. However, the IRS portal only handles standard forms like the 1040, sales tax filings, and certain declarations; you can't upload custom documentation there, such as detailed loss reviews or similar files. Those specific forms have to be in .xml format.

I have my doubts before May 2nd.

I think you can handle that through the IRS website, but personally—I’d rather just walk down to the local tax office and drop off a quick note explaining why I need a new ID. You can even fix things from last year if you need to.

That’s probably why—if they check the box stating it's an employee of another entity, but the certificate (the card) isn't actually in their name, it likely won't clear the system.

copperviper17 said:Hey guys, I am seriously begging for some help here........ So, I just finished submitting all the power of attorney forms for my clients through the IRS portal and everything seems totally fine on that end......... But now I’m spiraling a bit about the social security side of things—do I need to submit similar authorization forms for those services too? And if so, where on earth do I even find them? I don't have one of those fancy e-signature cards, I just use the standard B2G service with a USB key from Chase Bank.

For Social Security and IRS electronic filings, you definitely need client authorization—you can grab the necessary forms right on the IRS website.
It might even be possible to attach those authorizations to your Chase card. You already have certificates installed on that Chase card (one for Chase online banking and two from the IRS), and they can basically append the authorization to the existing certificate.
I haven't personally verified this, but that's how I think it works.

Sean Turner5 said:So, back when I checked with Chase, they told me they hadn't figured out a way to handle those B2G power of attorney setups yet. Apparently, they were insisting everyone needs their own individual card, which sounds ridiculous to me (???!). That was like three months ago, though. Maybe things changed or my banker just didn't know his stuff, but I was in such a rush that I didn't really press him—I just headed straight to FinTech. As for the paperwork, I went right to them, grabbed the forms, filled them out, and handed them over.

The tech guys at Chase don't want to touch anything related to the IRS or Social Security—that's my experience. I had a similar issue with my Chase card and the B2G service, and I had to deal with IRS support to get it sorted.

Jacob Gomez79 said:Greetings,

Since we’re running a small business—one of those smaller outfits where you wear a lot of hats—we’re currently making the transition over to the electronic tax filing system.
The plan is to grant formal authorization to our accountant, who will be handling the heavy lifting on this end.
We don't actually have a dedicated business debit card for this, so we were thinking of working through Chase since we already have an established relationship with them via our online banking.
My question is about the logistics: would Chase issue us a physical card or a USB token that we then hand over to the accountant, or is she expected to manage that part of the process herself?
I’ve been reading through some discussions where everyone seems to focus on the client side of things, which made me wonder if perhaps the accountant handles all the setup—getting the digital certificate or the hardware token ready—while we simply provide the necessary power of attorney?

Thanks in advance for any insight.

If you don't actually need direct access to the data yourself, it’s much more cost-effective to let the accountant handle it. Your specific card will cost you $17 per month, whereas the accountant's base fee is $50, plus $4.00 per month for each additional authorization for the IRS or Social Security—though the e-filing itself is free.

If you hand over the Goldman Sachs filings to the SEC before filing your tax returns, the IRS will basically just "borrow" the balance sheet and revenue data straight from the SEC—and they’ll grab any necessary audit info too if they feel like it.

Everything is included in that price

Maybe this question belongs over on the LLC discussion board rather than here under small business startups—the regulations aren't exactly the same.
An LLC can handle just about any profession regardless of the owner's specific credentials, assuming they're the sole employee, though there are a few exceptions like you already mentioned.

Carol Ward3 said:Since we set up and received my FINRA card back in December, I was just wondering when we might realistically expect the first round of bills to arrive?

Based on what I've seen, usually somewhere between the 17th and the 20th. You'll definitely get that final statement by the end of the month.

I dealt with a deficit myself once too 👍

🙂 Messed up the emoticons—my bad.

"Guys," you've seriously overstepped—even when we're just grabbing a coffee 🙂

I should be dealing with this any day now—I'll let you know once I do.
Since I handle all my payroll through online banking, I kept getting hit with error messages. Turns out, my "brilliant" software was actually generating transfer files with negative balances 🙂

Timothy Morgan38 said:Without even seeing any documentation?🙂 👍

No—and if I actually went down there to visit this week, it would be a total mess.😉

Raymond Martinez10 said:Believe it or not, I filed an IRS refund claim and it went through without a single follow-up question. I've got another refund coming next month, so I'll let you know how it goes.
For another client, I had a VAT carryover to N/A, and that went through too—though, naturally, they required the Central Hub docs.
In these situations, I’m convinced the "key to success" is just having a good relationship with the clerk.

Like I said—yesterday, the refund hit my account. No extra questions, no formal requests, no bank statements... nothing. 🙄

There's some kind of secret connection here😉

It probably just comes down to which local Police Department you're dealing with—it’s hit or miss. Just a few days ago, I brought on a new client, and my colleague headed down there with the corporate card and three copies of the power of attorney, and everything went off without a hitch.
Truth be told, when I drafted a power of attorney for my own company, the process was identical to doing one for someone else.
Essentially, the company official—whether it's the CEO or a sole proprietor—is granting authority to an individual (like an employee of their firm or another entity) to handle all the IRS electronic filing services.

Michael Sullivan6 said:Setting up a sole proprietorship for $150 is a decent idea, sure—but there's a catch. That setup won't work because what you're doing is basically wholesale, and for
wholesale operations, you really need to incorporate as an LLC. 🙂 With an LLC, you're looking at roughly $27 $0.00 plus maybe another 20,000.00 in startup costs, and then there's the other $7
—you know, the notary fees, filing with the Secretary of State, stamps, all that bureaucratic nonsense😵. www.photocopy.net:no way, he knows:

Look, an LLC isn't mandatory for wholesale—you can definitely run it as a sole proprietorship. Why wouldn't you?

silverbadger said:How are you guys handling the documentation requirements for VAT refunds?
So, my assistants back at my small-town office were insisting that everyone needs to switch over to the IRS online portal because they can't accept physical reconciliation cards at the end of the year anymore. I went ahead and migrated everything to the digital system, but now, for my very first refund request, they called me up demanding hard copies of the logbook, the logbook summary, and the Central Hub files just to process the money.
Honestly, what’s even the point of using the IRS digital portal if I still have to physically go down there and hand over all this data and a Central Hub report just to get my tax refund back? When I asked about this, they didn't have a clue.
Of course, Murphy's law always seems to be in full effect for me, so I ended up having to redo my power of attorney forms three different times. First, they told me to list myself, then they said to list the company I work for, and finally, they insisted on both. Even the help desk over the phone couldn't give me a straight answer.

Believe it or not, I filed an IRS refund claim and it went through without a single follow-up question. I've got another refund coming next month, so I'll let you know how it goes.
For another client, I had a VAT carryover to N/A, and that went through too—though, naturally, they required the Central Hub docs.
In these situations, I’m convinced the "key to success" is just having a good relationship with the clerk.

Are there any 🤷
like this?