Accountants Who Come To Us For Guidance
David M. Kaufmann, CPA
2831 Wyecliff Way
Highlands Ranch, CO 80126
PO Box 632285
Highlands Ranch, CO 80163-2285
I assisted Andrew Nelson, CPA, with an Accumulated
Earnings Tax issue. An IRS agent was raising some questions about the corporate
Accumulated Earnings Tax. I assisted Andy, and sent him some material to better
argue with the IRS.
John H. Bryan, E.A. asked me to review his interest and
Michael Meyers, CPA asked me to review his interest and
Explained to Al Pleitner, CPA, how the IRS computed the
Failure To Pay penalty on a transcript.
Helped Mike Buccieri, a
tax professional in E.
Aurora, NY, with paperless office issues. I suggested settings for FineReader
OCR software to speed up processing. I explained how the Select Text Tool in
Acrobat could speed up accounting work. I recommended various backup strategies.
Explained to John Frisch, CPA, CFP, why one of his clients
would not have significantly higher Social Security Retirement Benefits if he
received wages for 5 more years. The client's Average Indexed Monthly Earnings (AIME)
did not change much since the current earnings replaced relatively high prior
Helped Donna Ward, CPA, Denver, CO. One of her clients had
been audited by the IRS. I helped her with:
- When interest would run on any proposed underpayment.
- How interest runs on Failure To Pay and Accuracy
- That the Accuracy Related Penalty, if any, is based on
the accuracy related underpayment of tax, not the entire underpayment.
Helped Gerald Williams, CPA, Hyannis, MA. He needed to
know what the assessment date was for a penalty. The taxpayer that he was
working with had over $600,000 of taxable income.
Helped Ken Hall, CPA, Los Gatos, CA. He needed to know
whether the compensation amount for personal use of a business car stayed the
same or changed if the Automobile Lease Rule was used.
Helped Irvin Rabinowitz, CPA, Atlanta, GA. He had
questions on how Required Minimum Distributions from IRAs are made when the
spouse is more than 10 years younger than the IRA owner.
Helped David Childers, CPA, Shallowater, TX. He had
questions on how to determine the interest rate for §72(t) computations. This
computation is used to calculate the penalty - free amount that can be taken out
of an IRA before someone is 59 and 1/2.
Helped Bill Evenson of Hawkins, Ash, Baptie & Co, De Pere,
WI. He was questioning an IRS notice. I helped him reduce the interest that the
IRS was charging his client.
Helped Neil Sullivan of Farm Credit Services of Minnesota
Valley. He had a client that was over charged interest and Failure To File
penalties. I showed him why the IRS was in error. Failure To File penalties are
supposed to be computed *net* of Failure To Pay penalties. Interest on Failure
To File penalties begins at the end of the extension period, not on the return
due date as the IRS had asserted.