To Our 1040 Clients, Thank you for your business last year. We look forward to seeing you shortly. Please call us at (216) 252-2322 to schedule an appointment or just drop off your information at your convenience. Please take a moment to browse our website for helpful hints on a variety of topics. MORE CHANGES FOR THE 2011 TAX YEAR Filing Deadline - will be April 17, 2012 for Federal, State and Local returns. Legislation - should not affect the timely processing of tax returns as it did last year. Tax Preparers - IRS continues to demand electronic filing. All tax preparers are required to obtain a Personal Tax Preparer ID number. Earned Income Credit - IRS continues to redefine eligibility. Schedule C - Business Income - continues to be closely watched by the IRS. Schedule E - Rental losses are being scrutinized by the IRS. Form W2 - An OPTIONAL disclosure on the cost of health care provided by the employer. Foreign Accounts - New disclosure rules. Pensions & IRA's - Reminder about the 2 year tax on Roth Conversions. Schedule D - New form for Capital Gains and Losses (3 pages instead of 1). Debt Forgiveness and Foreclosures - Computation of taxable income. Health Care - Most of the 2011 requirements have been postponed. 1040X - The OLD format returns.