garman22
Level 13
Level 13

@Frustrated-in-IL I noticed this as well. Here are my 2 cents on the subject. 

I am assuming that these rebates may be taxable if someone itemizes. Due to prior President Trump's changes, most people no longer itemize. For those that do and have filed already, IRS states not to amend. Will they issue notices to these people? Will it even make a difference? I honestly dont know. As of today, I have not mentioned anything to my people. I may start with tomorrows appointments. 

Here is MY problem with this, when exactly will the IRS issue guidance? How long must we the people wait to file? Will this affect PS software. If so, who knows HOW LONG they will take to update their software??? That is my BIGGEST issue here. PS programmers tend to take their time getting out updates. 

I am leaning towards filing and taking the wait and see approach with the IRS. I will update my clients and let them make the final call. 

I find this ludicrous that we must wait over a few hundred dollars. Sheeeeeesh!!!  

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