EFTA01019417.pdf

From: "Jeffrey E." <[email protected]> To: "Barry J. Cohen" Subject: Re: 000's Date: Tue, 19 Sep 2017 20:24:37 +0000 think about it, again, ask joe how many 1040 audits he has done. . what size. how complex. when we file a grat, we calulate the gift explicity at zero. . it is the calculation of a gift minus the annuity. It is simple math. no more 2 minus ( 1+1) does not equal NONE On Tue, Sep 19, 2017 at 4:19 PM, Barry J. Cohen < IMa wrote: Fair enough. From: Jeffrey E. [mailto:[email protected] Sent: Tuesday, September 19, 2017 4:19 PM To: Barry J. Cohen < > Subject: Re: 000's dumb' ill tic as i told you, computers dont read letters On Tue, Sep 19, 2017 at 4:15 PM, Barry J. Cohen > wrote: Sorry I misunderstood on the 000s. Gift tax returns have to report a number somewhere, so maybe statute doesn't start. But if you filed an income tax return for an entity with no income or expenses, Joe V assumes the statute would start. In any event, we don't file returns that way. As I said, we would say "None" where appropriate. From: jeffrey E. [mailto:jeevacationAgmail.com] Sent: Tuesday, September 19, 2017 4:09 PM To: Barry J. Cohen Subject: Re: 000's i did not suggest you use the 000 method. Im sorry but i dont have the time . do you think if you filed a gift tax return and left everything blank the statue would run? On Tue, Sep 19, 2017 at 4:03 PM, Barry J. Cohen < wrote: John Cook at EY said they would not sign a return that uses the 000s method. They said that there are too many footing problems. Numbers won't tie to K-Is, W-2s, 1099s, etc. Also, if you only use it on part of the return, the various numbers on the return would not match internally. He also pointed out that this method effectively truncates numbers; though I'm not sure what rounding rules you use. E.g., 101,499 become 101? What happens to the other $499? EFTA01019417  Joe V likes the idea of putting in 0's instead of blanks. He says he uses "none". He did not understand why this would affect the statute of limitations. Barry J. Cohen please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited EFTA01019418  and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA01019419