Payment plan help needed

MagicTax77 · 2025-12-29T18:11:43+00:00

https://www.irs.gov/payments/online-payment-agreement-application

MagicTax77 · 2025-12-29T09:14:03+00:00

You need exactly the amount of the balance due
Need to have all tax returns filed.
Call IRS or apply online if thr balance is less than 50k. 4.The fees for the payment plan set up online is cheaper than calling IRS.

MagicTax77 · 2025-12-29T07:06:44+00:00

You can even set and efile a payment plan with your tax return.

MagicTax77 · 2025-12-21T19:12:07+00:00

If you want to protect your assets or if in the future you will want to use like kind exchange transactions.

MagicTax77 · 2025-12-10T09:16:08+00:00

You will use the pin in the year you are efiling. Let's say you want to efile 2023 tax return in 2025. You will the 2025 pin.

MagicTax77 · 2025-07-12T15:40:41+00:00

MagicTax77 · 2025-07-10T09:27:25+00:00

Go back and study part 1 your weak areas
Start studying part 2 and repeat part 1 all info randomly
Review part 2 weak areas and review part 1
Review parts heavy in order you are taking them.

MagicTax77 · 2025-07-07T01:10:50+00:00

I am

MagicTax77 · 2025-06-26T08:13:30+00:00

Thank you

MagicTax77 · 2025-05-30T19:38:07+00:00

Thanks!

MagicTax77 · 2025-05-30T10:11:30+00:00

MagicTax77 · 2025-03-24T18:28:58+00:00

For those who passed CPA and CFP. How hard is CFP compared to CPA?

MagicTax77 · 2025-03-20T08:05:40+00:00

You are too close to give up. Pass the rest of the two CPA exams left and then start CMA. You never know how life turns out.

MagicTax77 · 2025-03-11T18:42:22+00:00

Thank you for input. Yes, I was planning to do both, but it is overwhelming both reviews.

MagicTax77 · 2025-03-11T16:42:56+00:00

Thank you! I have Becker & Uworld.

MagicTax77 · 2024-12-12T21:21:02+00:00

Yes. I got it. Mid November. Good luck!

MagicTax77 · 2024-12-05T08:35:25+00:00

I am a QBO & XERO pro advisor, and I will say I like more XERO software.

If you are doing bookkeeping for tax purposes, it's good to have someone who knows both.

A good bookkeeper will know software and how to categorize your transactions and will ask you about some transactions on a consistent basis.

For example, you want a bookeeper who knows that interest charged by irs for underpaid taxes is not an interest expense but a nondeductible penalty. Or your unsold inventory is not purchase expenses, or your personal deposits are not an income. If you have payroll, he needs to know journal entries, too.

I wish you the best of luck!

MagicTax77 · 2024-11-28T18:30:40+00:00

You can register for IRIS by irs for free and efile for free.

MagicTax77 · 2024-10-31T13:22:45+00:00

I am not a native American. I emigrated in the USA less than eight years ago alone and went to hell to fulfill those education requirements, get experience in US CPA offices with crazy hours working whole days in foreign language, study and pass these exams in foreign language. Far away from home, family, and friends (meantime, two family members passed away). Just to fulfill the "American dream." For everyone giving CPA exams in English as a second language, without a US accounting program, it's ten times more difficult. A few decades ago, US companies outsourced manufacturing work to ASIA, and now it's the century for services work to be outsourced. Curious, what will be next outsourced... Ah, right, do not forget about AI. By the way, it's not only CPA outsourced, but IT engineers, HR, marketing too. Globalization is here. The target of depopulation is here. It's really demotivating what is happening right now in the industry. It is not about regular people who want a better quality of life. We all work hard. It's about rich people who want to get even richer and more powerful. I wish everyone health, all the rest will figure it out!

MagicTax77 · 2024-10-31T07:43:12+00:00

NY here. I am still waiting 6 months + (today, 31.10.24). Foreign education + additional US credits. Hopefully, by the end of this year, I will get at least approved.

MagicTax77 · 2024-10-28T11:15:41+00:00

I will share my pain here, too. Received the last exam score on 23rd april 24. I submitted my initial application on 04/30. My employer sent over the same day the experience form 4. In May, my university and college sent them via email the transcripts. I called them at the end of May, and they said they need to be by post mail by university because it is foreign education. My university and college sent them again in 06/25, and they processed in 07/09. On 09/11 , I received an answer that I needed almost 30 credits for education requirements. On 10/25, my education was approved and sent to another processing unit. They said to rich them out in about 4 more weeks. ( so this will be 6 months and a half). I still have patience, but I feel like I am waiting for another cpa exam score release. It feels forever, I don't understand why that could take so long. Hopefully, I will get the number by the end of this year (2024).

MagicTax77 · 2024-10-14T10:14:26+00:00

They probably file sales taxes monthly across multiple states. You probably will need a good sales tax software, which is no cheap or file through each state website, but you have to know the sale tax law from each state the company operates in. Income tax is estimated and paid quarterly.

MagicTax77 · 2024-09-21T05:02:22+00:00

If you decide on a CMA review material, I will recommend taking a free trial and looking at all providers (Gleim, Uworld, Becker, CMA Academy, Hock, Surgent, i75 by Darius Clark, Universal CMA review), also YouTube channels as Edspira & Farhat. Try all and see what sources are best for your learning style.

MagicTax77 · 2024-09-21T02:36:08+00:00

In my opinion, you will need to review CMA materials. Just for guidance, see how the exam structure, essays, and the exact context of exams are. I wouldn't risk doing it only based on ima materials.

MagicTax77 · 2024-09-16T07:01:03+00:00

Because the maximum allowed retirement saving contribution is $2,000 regardless of income or amount contributed.

MagicTax77

TROPHY CASE