Level 15

Question

Stimulus payments

Forum|Forum|5 years ago
April 15, 2021
4 replies
16 views

It's been a long tax season, but sometimes you just have to smile. I just opened up an envelope and found this note inside:

"I did get a stimulus check for tax year 2020 - I don't remember the amount ☹. Can you guestimate? I would say that whatever the dollar amount that was advertised - I did not receive that amount - so if $800 was the amount that most everyone received - I got $300 and truthfully, I thought that I got less than $300"

That was the note in verbatim - complete with the frowning face. You just have to smile -------- it keeps you from crying 😀

ProSeries Professional

This topic has been closed for replies.

qbteachmt

Level 15

Here's what they say in the South: Why, Bless your little heart.

Don't yell at us; we're volunteers

PATAX

Level 12

Or how about the client that does not remember the amount of stimulus payment checks that they received until you tell them that it is not taxable and that they may be entitled to an additional amount and then suddenly they remember.... Maybe they suffer from selective amnesia... Just my opinion

IRonMaNAuthor

Level 15

Almost scientific studies have shown that memories improve tenfold when people think they can benefit from remembering crap.

Slava Ukraini!

M

mojocpa_

Level 3

Yo, Yote, how are you doing? mojo, here. Semi-retirement is tough. Is there still a double secret All Star room anymore?

Former All StarHe was level on the level

BobKamman

Level 15

What we have here is a mismatch. Taxes are obviously the most important thing in your life right now, and they are obviously not the most important thing in your client's life. Look at the bright side -- you're not married to each other. And for me, the worst clients are those that I have to remind, "It's only a tax return."

If their income was less in 2020, put down something for RRC and tell them IRS will figure the exact amount. It may delay the refund, but they're earning more interest than the bank would pay. If they complain, remind them "it's only a tax return."

IRonMaNAuthor

Level 15

Let's just say, you really have to know the client to appreciate the note😁

Slava Ukraini!

T

taxes96786

Level 8

Client can register to see their account on irs.gov. It lists the stimulus payments received. IRS does not allow "estimates", they want the actual amounts.

BobKamman

Level 15

What they want and what they get are both limited by what is possible. Some of us choose to apply the Cohan rule to EIP reporting.

If a taxpayer reports nothing for RRC, IRS will accept that. If a taxpayer reports something, IRS will check its accuracy in every case and correct the amount, up or down, based on the numbers they have readily available.

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