Rebate

[dawn-fsataxaccou]

My client did not get any rebate, and I try to put in zero but it still have a red error

[Just-Lisa-Now-]

On the RRC worksheet? You need to fill in amounts on Lines 16 and 19 for the first and second stimulus payments

[dawn-fsataxaccou]

Thank you Lisa

[IRonMaN]

Just as a side note, it seems that most of the folks that said they never received the payment, really did.  You might want to interrogate them a little more before you file the return saying they didn't receive the payment.

[Accountant-Man]

Don't bug them! Let their refund be delayed or let them get notices from IRS!

LET THEM SUFFER LIKE TAX PREPARERS SUFFER!!!

Bwah haha haha!

[JOFI]

I blame the IRS, not the taxpayers, here.  Why they couldn't have issued a standard tax form in early 2021 (you know, the same time you are getting all your other tax forms) reporting the total stimulus amount paid out in 2020 instead of sending the lame letter that was issued at the time of the stimulus payments and easily mistaken for junk mail is beyond me.

Relying on clients, especially those with less than perfectly organized lives, to self report their payments was always a disaster in the making.

[ljr]

The IRS has been correct in every client letter we have received where the client insisted that they did not receive any money. We did ask them several times to check for deposits, letters etc and still they said no. Same thing, we warned them it would hold up their returns and they might get letters. It would have been nice if the IRS sent a 1099-G or some form for year end as we all know they all got rid of the letters that came during the year. A lot of wasted time on the phones this year. Anyone considering this a good year to raise their prices? LOL.

[IRonMaN]

"Why they couldn't have issued a standard tax form in early 2021"

You mean the form that those same clients would have lost and said they never received?

[Accountant-Man]

Don't worry, there will be issues for EIPs issued in 2021 AND pre-paid child tax credits received in 2021.

(In many cases, their refunds will go DOWN because even with the higher CTC, the amount of credit on the 2021 F1040 will be LESS than in 2020 because of the pre-paid CTC.)

I CAN'T WAIT!

(I KNOW I SHOULD HAVE RETIRED AFTER 2019.)

[BobKamman]

All IRS had to do was keep the website open that had the dates of the first two payments.  Instead, they took it down so they could report the amount of the third one -- a number we don't need until next year.  There would still have been a few problems, without knowing the amounts -- were they based on 2018 or 2019 AGI?  But for most people, it would have been simple.  

And then there are the people whose 2019 returns were not processed until spring of 2021. They may have had a couple hundred thousand AGI but IRS only knew they were collecting Social Security, so they sent them $1,400 anyway.   Fortunately, they don't have to pay it back.  But if their 2021 AGI is less than usual, we'll have to remember to check on how much has already been paid.