JimS_1
Level 3

Hi TaxGuyBill -  I haven't seen any updates to Pub 15-T, so I assume this will be an issue (albeit small) for some taxpayers.   Have you seen anything to update payroll withholdings?

Also, in a related note, a client just got a letter from Joe B today saying that the IRS calculated their monthly payment to be $75, yet when they went on the IRS site today (July 14) it says they will be getting a deposit of $243 tomorrow.   I was able to back into the $243 amount by taking the 2019 child tax credit on their return and dividing by 12 (2020 is on extension), but I have no idea where the IRS got the $75. I reviewed the IRS literature on how it should be calculated, and I can't get close to the $75.  The client has one child that is turning 18 this year, so they shouldn't have gotten $243 anyways.... (does the IRS know the age of each child??)

It's not a big deal but I'm worried more clients are going to be asking questions....which I won't be able to answer....  Ugh.