CA preparers, a little good news for your lower income clients that qualify for CAEITC

[Just-Lisa-Now-]

The Golden State Stimulus

https://www.ftb.ca.gov/about-ftb/newsroom/golden-state-stimulus/index.html?fbclid=IwAR3VU41pdtYHLIh3...

[BobKamman]

On the other hand, a little bad news for the higher-income clients whose taxes are funding this.

But there aren't as many of them as there used to be, what with 50,000 Covid deaths leading the nation.  And the smart ones left the state, like Elon Musk.  Oh, wait, where did he think life would be better?  

[IRonMaN]

I heard Teslas now come off the assembly line with snow tires.

[BobKamman]

Has IRS said whether this is taxable income, when it is a refundable credit for those with zero state tax already?  See previous discussion of taxable state grants, generally.  

[PATAX]

If applicable, I wonder if there may be any individuals who may qualify for this by falsely claiming to be "self-employed" and have a "business" like hair cutting, baby sitting,  etc., and just make enough to receive a dandy credit that middle class taxpayers are paying for....Just wondering.....Just my opinion....

[Just-Lisa-Now-]

The first year CA allowed self employed people to get EITC, I had 2 hair dressers get EIC audits.

[PATAX]

Lisa there is a website I believe called Progressive accountant .... I don't know how they got my email address ... There are many articles on there about eitc alleged fraud...

[Just-Lisa-Now-]

Im sure it runs rampant! One f my hairdressers sent in all the docs they asked for, they claimed they never got them, so we sent again, took her over 8 months to get her measly $330 in CAEITC. she'd been a hairdresser for over 40 years, was ridiculous.

[PATAX]

I feel sorry for those who have legitimate businesses and our suffering... But the ones who are falsely taking advantage of the system make it bad for everyone, some of these individuals claim they cannot find work, but they sure know how to work the system, do they not?