Looks like IRS plans on fixing the UI on previously filed returns

Forum|Forum|5 years ago
March 18, 2021
8 replies
70 views

https://www.bloomberg.com/news/articles/2021-03-18/irs-to-automatically-process-refunds-on-jobless-benefit-payments?sref=L0zTIg1s&fbclid=IwAR0WKWw_yAwCaZB5qwYkfi3ZvE10_SXX3a-bVl4KV754Wm8GVK-vOr0UL8Q

Or you can watch the commissioner testify here on CSPAN

https://www.c-span.org/video/?509965-1/irs-commissioner-rettig-testifies-tax-filing-season&vod=&start=1063&fbclid=IwAR1Y5Qa5DUCR_J68ZZ4uYLjjvTtZMznVkJtXMoXLiN93MFrBfZYdcKdCcZE

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abctax55

Level 15

https://proconnect.intuit.com/community/tax-talk/discussion/irs-commissioner-no-1040-x-needed-for-unemployment-refunds/00/144044

HumanKind... Be Both

abctax55

Level 15

OMG - If I have to watch/listen to that I will fall sound asleep.

Should we start betting on whether they'll change the EST #1 for 2021 to 5.15.21 at some stage?

HumanKind... Be Both

B

Bcpa

Level 3

In the hearing Rep Smucker from PA asked on behalf of a CPA constituent and Rettig said no and said it curtly. HIs argument was that it can't be done as wealthy would game the system. When Rep asked about penalties for small taxpayers that can't get those estimates calculated to pay as returns are being delayed, Commish said call IRS and ask for abatement.

I did not feel the love from the Commish.

rbynaker

Level 13

I just got finished "catching up" on that online. He seemed pretty adamant about not extending anything beyond 5/17 and not extending 1Q-ES payments beyond 4/15. His argument was normally on 4/15 they pull a bunch of people off the phones to deal with correspondence. Now that will have to wait a month so anyone stuck in limbo (a.k.a. the "backlog") awaiting problem resolution will likely be stuck for 30 days longer because the people who can help them will be too busy answering the phones. Not sure I buy it, but that's what was for sale. I'm sure there's some truth to it.

He was quite confident that the IRS can simply recompute already-filed tax returns once they get the unemployment data from the states, which is due 3/31.

That still won't help anybody who needs a superseding return to change filing status from MFJ to MFS if they were screwed by the $150K MFJ MAGI limit. IMO those will still need to be paper filed by the due date.

abctax55

Level 15

I'm glad I have you to listen to this for me.....thanks, Rick.

HumanKind... Be Both

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