Originally Posted by Blackcat31:
Here is a copy of the form so you can print it off and give it to the parents. Or they can get one where ever they have their taxes done or at irs.gov
http://www.irs.gov/pub/irs-pdf/fw10.pdf
Here is s SUPER good blog that Tom did in regards to end of the year stuff:
http://www.tomcopelandblog.com/2011/...-receipts.html
It should answer all your questions about whether YOU or the parent needs to supply the form, where to get one and what your legal responsibilities are for year end statements. I was surprised to learn that I am not responsible for supplying any of the info that most providers do give out.
I guess the way I see it is if they want to use their payments as a deduction and benefit from it, it should be their responsibilty to keep track of it all. You are NOT their accountant and as a business owner, if we want to use anything as a deduction (mileage for example) WE have to keep track of those expenses ouselves in order to reap the benefit. The gas station does add up all our payments and give us a nice tidy total at the end of the year because it isn't their responsibilty or of any benefit to them....kwim?
Thank u Blackcat. ITA! I printed it out and will offer it as a 1 time deal and tell them from now on future years the responsibility is theirs. I have 1 client that is really nice and pays on time so I really dont mind doing it for her. It's the rude nonpaying almost demading ones that call me from the tax office that I really want to say no to. I wish I had known I had that right. I would have loved to tell a past client NO do it yourself. lol