On May 15, 5:57*pm, Harlan Lunsford <hnslunsf...[at]bellsouth.net> wrote:
- quote -

use a paid preparer; therefore
it should be standard practice to discuss and, at the least, prepare
blank vouchers for those who might
encounter an underpayment situation. It would have been nice if the
IRS had informed us of this change
at the beginning of the year (I heard circa April 1st).

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"Harlan Lunsford" <hnslunsford[at]bellsouth.net> wrote in message
news:BW6Xj.4597$Kk3.2204[at]bignews9.bellsouth.net...
- quote -

There are many instances where that 30 minutes can turn into hours.




- quote -

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John Levine wrote:
- quote -

figures, no extra work is involved, hence no added charge.
But for those of us who take the time and effort to accurately estimate
and project figures based on reasonable assumptions, it's worth at least
a fee for the extra 30 minutes.

ChEAr$,
Harlan Lunsford, EA n LA

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- quote -

Every tax preparer I've used in the past 35 years has done the next
year's estimated taxes as part of the process. I'd never use a
preparer who didn't, or who charged extra for them.

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Phil Marti wrote:
- quote -

payments are predicated on actual results, there's always page 3 of the
2210 to use. Besides, notice that for 2nd quarter above, the 3700 is
enough to carry over to third quarter at least.

ChEAr$,
Harlan

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"Harlan Lunsford" wrote:

- quote -

That $1,000 leeway applies only to the balance due after withholding
credits, not ES payments. The reason I know this is that I got corrected
for the same error, and it stuck with me. When ES payments are invovled you
have to meet the 100/110% of last year or 90% of this year safe harbor.

--
Phil Marti
Clarksburg, MD

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1joetaxpayer wrote:
- quote -

Well my software Taxwise, doesn't automatically prepare 1040es vouchers!
Not unless I instruct it to do so of course. We should remember of
course that it is always up to a paying client whether or not he elects
to make estimated payments.

However! As a matter of course, I believe it our duty to discuss the
issue and heavily recommend that he make the payments and offer to
prepare the estimates and vouchers should he so choose.

Actually, for many of my clients, esp those who's bookkeeping I do, I
will provide the vouchers each quarter, refigured each quarter, to keep
him on track. Thus the payments might be : I - 2000, II - 3700, III
- (after business downturn) 800. But for the IV quarter, the last
payment will be very much on target, and well within the 1,000 leeway.

ChEAr$,
Harlan Lunsford, EA n LA

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Ted wrote:
- quote -

? Not part of the return? The estimated payment vouchers print along
with the return, I considered this part of the process. Now, for many
(not all) retirees, their total tax bill is less than their RMD, so they
can forget the quarterlies, and just withhold the entire tax liability
from the RMD close to year end.

Joe
www.blog.joetaxpayer.com

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"Ted" wrote:

- quote -

I do only unpaid prep for the poor and befuddled and, I'm sure, carry some
prejudice from my prior life as a tax collector, but IMO it's bordering on
malpractice to fail to address the issue with a client. After all, that's
one of the reasons I strongly assert that anyone who goes into business
without a good consultation with an accountant is an idiot.

Yes, I understand that you're asking in the context of return prep, not a
consultation. It makes no difference to me.

--
Phil Marti
Clarksburg, MD

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

If it seemed like they might be necessary, would you bring up the issue of
estimated quarterly payments for the coming year with a client, or would it
be his responsibility to ask about them as they are not part of preparing a
tax return?

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >