3RD STIMULUS PAYMENT CALCULATOR

[Taxed preparer 66]

Why is is I have to go to the Wallstreet Journal or even worse the H&R Block web site to find a stimulus calculator to calculate the projected stimulus for a married couple with an AGI of $153481?

The last update of the Covid 19 Resource Center has no such resource. 

Also a little tip. This taxpayer had a calculated AGI of $156,481 and a tax liabillity of $933.

The H&R Block calculater determined their stimulus payment at $1971. A simlple Traditional IRA contribution of $3000 reduced their 'AGI to $153,481, a refund of $27. and an estimated stimulus payment of $3651 which covered their contribution and gave the a remaining $651 to go to dinner.

WHY CAN'T INTUIT PROVIDE US WITH A STIMULUS PAYMENT CALCULATOR? TAX RETURNS STILL NEED TO BE FILED EXPEDICIOUSLY FOR THE STIMULUS PAYMENT THAT IS GOING OUT AS I WRITE.

[dascpa]

Maybe because the law was signed less than a week ago and the IRS has not published anything official and we're all focused on 2020 tax return prep rather than our whining clients as to how much I'm going to get and all the unemployment forms and whether states will delay and tomorrow's 1065/1120S deadline and everything else.  To me 2021 stimulus calculator is the last thing I care about and if my clients want to calculate let them go to the Wall Street Journal.

[qbteachmt]

The stimulus is an advance against 2021 tax returns and 2021 income reporting. Are you making a 2021 guesstimate, then?

[qbteachmt]

I googled this:

irs third stimulus calculator

And got a bajillion links, including:

https://www.aarp.org/money/investing/info-2021/coronavirus-stimulus-check-calculator.html

https://www.kiplinger.com/kiplinger-tools/taxes/third-stimulus-check-calculator/index.php

It's pretty much available everywhere.

[dkh]

I get what you're saying about lowering the clients AGI on the 2020 return to get a larger EIP#3  BUT I think for many taxpayers it is too late to play that game.   IRS has already sent payments to many taxpayers.   If the 2020 return isn't in the system now it's most likely  too late.

[IRonMaN]

"Maybe because the law was signed less than a week ago and the IRS has not published anything official and we're all focused on 2020 tax return prep rather than our whining clients as to how much I'm going to get and all the unemployment forms and whether states will delay and tomorrow's 1065/1120S deadline and everything else.  To me 2021 stimulus calculator is the last thing I care about and if my clients want to calculate let them go to the Wall Street Journal."

Thank you @dascpa  - I started typing pretty much what you said and thought I would take a more positive approach and just ignore the post.  I now feel much better that I got my feelings off of my chest by you posting for me.

[dascpa]

@IRonMaN - screw positive approach.  I've reached that point in tax season where I'm just plain grumpy. And I've noticed it more and more in my posts. Every year I play three songs really loud  - Phill Collins "I Don't Care Anymore", Jackson Brown "Running on Empty" and Meatloaf "I Want My Money Back".  

Meanwhile I'm watching my friends who work for the government retire at age 55 or 60, have lifetime pensions, full healthcare coverage and I chose a profession that makes me work 111 days straight without a day off and 12-20 hours a day. Ugh!!!

[IRonMaN]

Come on now, don't hide your feelings, tell us how you really feel 😅

[IRonMaN]

As a side note, if you are looking at adding to your music collection, the Animals "We Gotta Get Out of This Place" is popular in our office at this time of the year.

[PATAX]

Das, I agree with you 100% ...  If they cannot wait until they receive the actual amount then too bad ... Let them eat their cabbage twice .. Just my opinion

[PATAX]

Das, hindsight is always 20/20. At the time you made your decision to become a CPA it was a lot different at that time ...So I would not be too envious of your friends.. this is fate and the Will of God and some things we cannot change... just my opinion