@IsaiBCortez @TaxDome_TD Yes it is for me.

I think the Senate will pass this and it will get delayed by one year.

@lisarunsonfaith Are they refusing to use it going forward or just asking for 2024 and prior year info to be taken down? I don’t see a problem with removing it for a client. You will have the source documents and copy of return on your server just not on Taxdome.

@DianeGilabert @cbriancpa No. It is based off total gross receipts not just the amounts sourced to Texas.

@taxchic_k @JonKladVanDamn In my opinion no one is late until FINCEN has a new deadline. If it is ruled in governments favor they will come out with a new deadline. No way they will say we won the case now millions are instantly subject to late filing penalties.

@DianeGilabert Or executive order to pause complying with it for 6 moths or so.

@nickmeals Thanks for sharing.

@IshDtax @rledbetterCPA @going_concern Not true in my experience. I have had clients with losses bigger than this for multiple years never even get a letter or anything.

@tax_zack You forgot to mention that you value bill and not by the hour, minimum return fee is 5K.

@GrumpyNonnaK @rcazes @PicturesFoIder Thanks. Im surprised they did not charge him with assault?

@cordes_tax @rodneygiles You say that now but many years later you may regret the child having control at 18.

@taxtherapist505 That is what I’m doing. No new clients and no special one off projects.

@pavyg @GmaElaine6 And Cahill is also a tv commentator and did not think to ask Ferrara himself why? Is he not curious? Maybe he should ask to make certain something similar does not happen again.

@mountainwesttax Funny but true.

@tbraves13 @sadBegal Yes I did once myself for a taxpayer that acquired bunch of rentals then died at end of year. All properties were about break even or a small immaterial loss. Family did not have info to easily break it out by property.

@sadBegal Yes I have seen this. Just break it out going forward.

@canediver @CPATaxTeam @CMcCulloughEA Some of these clients you pick them up, put them down numerous times and if not tracking time it can get lost just how much more time you are spending on it.

@canediver @CPATaxTeam @CMcCulloughEA Often also you think oh this client is taking a little bit longer but not really material no big deal. Then next year track time and u can be surprised how much time you have in it and you need to charge more.

@BlakeTOliver Great news. There is a group of people on taxtwitter that defended the 150 hour which I never understood.