IRS Love Notes are Going Out
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Laurie,
Thanks for the guidance that you and your staff provided throughout the
year and the easy to use Bivio software, getting our taxes done a month earlier
than normal was not difficult. The secret is, making sure your books
balance monthly. If for some reason they don't, take the time to figure
out why and correct the problem ASAP.. If treasurer's do that, getting the
taxes done on time is "duck soup".
Dick Lewis
Gentlemen's Mutual Investment Club
From: Laurie Frederiksen
Sent: Friday, June 02, 2017 8:27 AM
To: The Club Cafe
Subject: [club_cafe] IRS Love Notes are Going Out
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Thanks Ruth.
Sent from my iPad
Sent from my iPad
Laurie,Thanks for the guidance that you and your staff provided throughout the year and the easy to use Bivio software, getting our taxes done a month earlier than normal was not difficult. The secret is, making sure your books balance monthly. If for some reason they don't, take the time to figure out why and correct the problem ASAP.. If treasurer's do that, getting the taxes done on time is "duck soup".Dick LewisGentlemen's Mutual Investment ClubFrom: Laurie FrederiksenSent: Friday, June 02, 2017 8:27 AMTo: The Club CafeSubject: [club_cafe] IRS Love Notes are Going Out
Hi All,
Pat yourselves on the back if you got your 2016 investment club taxes filed by the new due date of March 15, 2017.
Just to let you know, we've received several requests already from clubs that didn't file on time. Even if they were only a week or two late, they've still been assessed penalties in the thousands of dollars.
So apparently the IRS computer is really on top of this one and is cranking out those follow up penalty love notes very quickly for those who didn't follow the new rules.
As always, if you stay on top of keeping your records checked and correct during the year and follow our guidelines for keeping your club accounting simple, you will have no problem getting your 2017 taxes done very quickly next year once you get your 2017 1099 forms.
Anybody have any comments on their experience meeting the new filing deadline?
Laurie Frederiksen
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Didn't have any issues meeting the deadline or preparing our taxes using the Bivio software. What I did have a problem with was when the tracking on the club return, sent by US Post Office certified mailx came to a screeching halt a week before the deadline, stating it was in Salt Lake City (I mailed it to Ogden, so it was close!). I waited a few days to see if it shook loose, but nothing changed. So I filed a claim with the USPO to try and find it, and also called the IRS to explain my problem and find out if my certified mail was proof enough that I mailed the return. The gentleman said certified mail is proof enough, and gave me a date (about a month past the 3/15 deadline) that I could call the IRS back to confirm that they had actually received it.
So when I called back around 3/15, the IRS confirmed that they had received in prior to the deadline of 3/15, and that there were no problems, not only for that return, but for every return we have ever filed. Yay! And thank you Bivio.
Meanwhile, I get periodic updates from the USPO stating that they are still investigating my claim but haven't found anything. Don't judge me if I just let them keep looking (as if they really are) and I don't tell them that it arrived on time and their tracking system failed.
Carole Jansen
WISE Investment Club
So when I called back around 3/15, the IRS confirmed that they had received in prior to the deadline of 3/15, and that there were no problems, not only for that return, but for every return we have ever filed. Yay! And thank you Bivio.
Meanwhile, I get periodic updates from the USPO stating that they are still investigating my claim but haven't found anything. Don't judge me if I just let them keep looking (as if they really are) and I don't tell them that it arrived on time and their tracking system failed.
Carole Jansen
WISE Investment Club
-----Original Message-----
From: Louise via bivio.com <user*28244000001@bivio.com>
To: club_cafe <club_cafe@bivio.com>
Sent: Fri, Jun 2, 2017 4:13 pm
Subject: Re: [club_cafe] IRS Love Notes are Going Out
From: Louise via bivio.com <user*28244000001@bivio.com>
To: club_cafe <club_cafe@bivio.com>
Sent: Fri, Jun 2, 2017 4:13 pm
Subject: Re: [club_cafe] IRS Love Notes are Going Out
Thanks Ruth.
Sent from my iPad
Sent from my iPad
Laurie,Thanks for the guidance that you and your staff provided throughout the year and the easy to use Bivio software, getting our taxes done a month earlier than normal was not difficult. The secret is, making sure your books balance monthly. If for some reason they don't, take the time to figure out why and correct the problem ASAP.. If treasurer's do that, getting the taxes done on time is "duck soup".Dick LewisGentlemen's Mutual Investment ClubFrom: Laurie FrederiksenSent: Friday, June 02, 2017 8:27 AMTo: The Club CafeSubject: [club_cafe] IRS Love Notes are Going Out
Invest with your friends!
www.bivio.com
Become our Facebook friend! www.facebook.com/bivio
Follow us on twitter! www.twitter.com/
Follow Us on Google+
Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe
I will echo Carole's experience vis a vis filing in Ogden. I
had the same experience two years running. The post office
customer service person who researched it said
responsibility for the final scan is with the IRS. The PO
just backs up the trailers to the door. She claimed that she
would message the Ogden PO personnel to follow up, but I
never got a call back. As far as "filing a claim", my local
PO clerk would only check his terminal and see the tracking
history. He said the IRS knows about the issue and will
accept the original receipt of mailing with the tracking
number as proof of receipt. But better keep a copy if the
IRS ever asks for it.
Jack Ranby, Treasurer
Grants Partners Investment Club
had the same experience two years running. The post office
customer service person who researched it said
responsibility for the final scan is with the IRS. The PO
just backs up the trailers to the door. She claimed that she
would message the Ogden PO personnel to follow up, but I
never got a call back. As far as "filing a claim", my local
PO clerk would only check his terminal and see the tracking
history. He said the IRS knows about the issue and will
accept the original receipt of mailing with the tracking
number as proof of receipt. But better keep a copy if the
IRS ever asks for it.
Jack Ranby, Treasurer
Grants Partners Investment Club
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Well, now it is our turn. Yesterday our club treasurer got a letter from the IRS saying we owe a bunch ($2,730) for late filing. And yes, it was mailed on 3/10 to the OGDEN service center (we have the receipt and the certificate of mailing, thank goodness!). I spoke to an IRS agent who put our penalty payment on hold for 90 days, pending receipt of the proof of mailing. And yes, we will send this to the IRS through certified mail!
Interesting to note, if I had had access to a fax machine while I was on the phone, I could have faxed it in to the agent right then without having to mail anything.
Ann
Money Mavens
On Thu, Jun 8, 2017 at 6:50 AM, Laurie Frederiksen <laurie@bivio.biz> wrote:
Interesting and thank you both for sharing your experiences. I have seen quite a few instances where it took a month for the return receipt to get back to the senders.
I guess Cincinnati is more on the ball. I sent my club returns in on March 10 and got the return receipt back on March 16.
The proof of sending date has been very useful to quite a few clubs.
Laurie Frederiksen
Invest with your friends!
www.bivio.com
Become our Facebook friend! www.facebook.com/bivio
Follow us on twitter! www.twitter.com/bivi
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Ann
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Interesting that the USPS says it is the IRS' responsibility for the final scan. I know I have never scanned any certified mail I have received 
. I think that is a copout.
I began sending all tax returns to the IRS via Certified Mail a few years back, when I discovered how broken the USPS really is (another rant for another time). I got a love note from the IRS saying they had never received our return. I called the IRS and explained that I had mailed the return in plenty of time, and was able to send them a copy of the original. They waived the fine, with advice to send all future returns via Certified Mail, so the non-delivery issue falls in the PO's lap.
WISE Investment Club
Carole Jansen, Treasurer
. I think that is a copout.I began sending all tax returns to the IRS via Certified Mail a few years back, when I discovered how broken the USPS really is (another rant for another time). I got a love note from the IRS saying they had never received our return. I called the IRS and explained that I had mailed the return in plenty of time, and was able to send them a copy of the original. They waived the fine, with advice to send all future returns via Certified Mail, so the non-delivery issue falls in the PO's lap.
WISE Investment Club
Carole Jansen, Treasurer
-----Original Message-----
From: John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com>
To: club_cafe <club_cafe@bivio.com>
Sent: Wed, Jun 7, 2017 11:55 pm
Subject: [club_cafe] Re: IRS Love Notes are Going Out
I will echo Carole's experience vis a vis filing in Ogden. I
had the same experience two years running. The post office
customer service person who researched it said
responsibility for the final scan is with the IRS. The PO
just backs up the trailers to the door. She claimed that she
would message the Ogden PO personnel to follow up, but I
never got a call back. As far as "filing a claim", my local
PO clerk would only check his terminal and see the tracking
history. He said the IRS knows about the issue and will
accept the original receipt of mailing with the tracking
number as proof of receipt. But better keep a copy if the
IRS ever asks for it.
Jack Ranby, Treasurer
Grants Partners Investment Club
From: John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com>
To: club_cafe <club_cafe@bivio.com>
Sent: Wed, Jun 7, 2017 11:55 pm
Subject: [club_cafe] Re: IRS Love Notes are Going Out
I will echo Carole's experience vis a vis filing in Ogden. I
had the same experience two years running. The post office
customer service person who researched it said
responsibility for the final scan is with the IRS. The PO
just backs up the trailers to the door. She claimed that she
would message the Ogden PO personnel to follow up, but I
never got a call back. As far as "filing a claim", my local
PO clerk would only check his terminal and see the tracking
history. He said the IRS knows about the issue and will
accept the original receipt of mailing with the tracking
number as proof of receipt. But better keep a copy if the
IRS ever asks for it.
Jack Ranby, Treasurer
Grants Partners Investment Club
We got a penalty statement for $195 per member because I thought only the K-1's were due by March 15th and not the Federal Taxes. I filed those by 4/15. However, I saw on the Bivio website that other clubs were able to get a one-time abatement if they had been compliant in filing taxes other years. I called, as suggested, and 20 minutes later, explained that we are a small investment club and had filed our taxes by 4/15 and our members were able to file their taxes on time. Our tax penalty was waived. Thank you, Bivio!
Kathy
From: Laurie Frederiksen <laurie@bivio.biz>
To: The Club Cafe <club_cafe@bivio.com>
Sent: Friday, June 9, 2017 10:51 AM
Subject: Re: [club_cafe] Re: IRS Love Notes are Going Out
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You did an excellent job is letting everyone know. I think not everyone makes effective use of all the many services offered by bivio.
Jayne
On Wednesday, June 14, 2017 10:15 AM, Laurie Frederiksen <laurie@bivio.biz> wrote:
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Frankly, Laurie, I don't think you or Bivio could have done any more than what was already provided There were plenty of notices. You cannot take responsibility for the actions (or inactions) of clubs facing late filing penalties.
Bivio wisely coached clubs to send their returns by certified mail to prove their compliance with the new filing date. It seems there is plenty of evidence here of clubs following your advice and avoiding those penalties.
Our clubs experience with you and Bivio has always been exemplary. We've been having January club audit parties for several years now and club accounting has never been easier. Keep up the good work and thank you for all the good services you and Bivio provide.
Megan McKinlay, member, and director
ACM - an Inland Empire Chapter model club
On Wed, Jun 14, 2017 at 8:14 AM, Laurie Frederiksen <laurie@bivio.biz> wrote:
It is unclear to me why so many of you missed the change in filing date. We thought we were communicating it extensively since August of 2015 when it first happened. We posted items here on Club Cafe, links on your club pages, links in AccountSync emails and sent out bulletins.
Any suggestions on what else we could have done? Even if you couldn't have gotten your taxes done by March 15, you could have filed for an extension and avoided any penalty.
Laurie Frederiksen
Invest with your friends!
www.bivio.com
Become our Facebook friend! www.facebook.com/bivio
Follow us on twitter! www.twitter.com/bivi
Follow Us on Google+
Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe
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On Wed, Jun 14, 2017 at 11:32 AM, Mike&Megan McKinlay via bivio.com <user*17245800001@bivio.com> wrote:
Frankly, Laurie, I don't think you or Bivio could have done any more than what was already provided There were plenty of notices. You cannot take responsibility for the actions (or inactions) of clubs facing late filing penalties.Bivio wisely coached clubs to send their returns by certified mail to prove their compliance with the new filing date. It seems there is plenty of evidence here of clubs following your advice and avoiding those penalties.Our clubs experience with you and Bivio has always been exemplary. We've been having January club audit parties for several years now and club accounting has never been easier. Keep up the good work and thank you for all the good services you and Bivio provide.Megan McKinlay, member, and directorACM - an Inland Empire Chapter model clubOn Wed, Jun 14, 2017 at 8:14 AM, Laurie Frederiksen <laurie@bivio.biz> wrote:
It is unclear to me why so many of you missed the change in filing date. We thought we were communicating it extensively since August of 2015 when it first happened. We posted items here on Club Cafe, links on your club pages, links in AccountSync emails and sent out bulletins.
Any suggestions on what else we could have done? Even if you couldn't have gotten your taxes done by March 15, you could have filed for an extension and avoided any penalty.
Laurie Frederiksen
Invest with your friends!
www.bivio.com
Become our Facebook friend! www.facebook.com/bivio
Follow us on twitter! www.twitter.com/bivi
Follow Us on Google+
Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe
I Agree completely
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Mike&Megan McKinlay via bivio.com
Sent: Wednesday, June 14, 2017 9:32 AM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Re: IRS Love Notes are Going Out
Frankly, Laurie, I don't think you or Bivio could have done any more than what was already provided There were plenty of notices. You cannot take responsibility for the actions (or inactions) of clubs facing late filing penalties.
Bivio wisely coached clubs to send their returns by certified mail to prove their compliance with the new filing date. It seems there is plenty of evidence here of clubs following your advice and avoiding those penalties.
Our clubs experience with you and Bivio has always been exemplary. We've been having January club audit parties for several years now and club accounting has never been easier. Keep up the good work and thank you for all the good services you and Bivio provide.
Megan McKinlay, member, and director
ACM - an Inland Empire Chapter model club
On Wed, Jun 14, 2017 at 8:14 AM, Laurie Frederiksen <laurie@bivio.biz> wrote:
It is unclear to me why so many of you missed the change in filing date. We thought we were communicating it extensively since August of 2015 when it first happened. We posted items here on Club Cafe, links on your club pages, links in AccountSync emails and sent out bulletins.
Any suggestions on what else we could have done? Even if you couldn't have gotten your taxes done by March 15, you could have filed for an extension and avoided any penalty.
Laurie Frederiksen
Invest with your friends!
www.bivio.com
Become our Facebook friend! www.facebook.com/bivio
Follow us on twitter! www.twitter.com/bivio
Follow Us on Google+
Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe