notice 1444

[jmass]

How are we going to know stimulus amounts when clients do not have Notice 1444?  IRS wheres my stimulus no longer has $ amount just bank info....

[abctax55]

Your client *should* have some clue as to how much money they received, especially if a check or direct deposit was the method of delivery.

If not - I think you'll have to assume the FULL possible amount was received.   Maybe not fair, but oh, well..... folks really do need to pay attention. 

[Just-Lisa-Now-]

Ask the client to check their bank account records, or have them get their transcript from IRS. 

Or you could charge them $100 to get their transcript for them, they usually manage to dig up the info on their own if they have to pay you to find it.

[IRonMaN]

You could always ask the client.  If they say they don't remember and don't want to take the effort to look at a bank statement, just assume they got the full amount and go on with life.  We run tax practices, not daycare centers.  Clients need to take a little responsibility for their own tax returns at some point.

[IRonMaN]

I didn't realize that this line had grown so long as I was typing. 😄

[Just-Lisa-Now-]

Im hoping they come out with an online Look-Up Tool like they have for the First Time Homebuyer Credit.

[jmass]

Thanks all! Yes I'm hoping for an updated tool ... I'm afraid I think I may have lazy clients

[TaxGuyBill]

Based on another question I read on another forum, it seems like the 1444 may only tell you what was deposited into the bank account (or check sent), but does NOT factor in the amount used to pay off Child Support.

For example, a person may have qualified for $1200, but maybe $500 was sent to pay off Child Support.  The 1444 would only show $700 (the amount actually put into the taxpayer's bank account).  So in those cases, the 1444 would NOT be the amount that we need to have.

Can anybody confirm?

[abctax55]

Thanks Bill.... you just made me MORE depressed at this whole mess 🤣

[sjrcpa]

So how are we supposed to get the correct amount in that situation? The person that didn't pay their child support will say they got the reduced amount, if they can even answer the question.

[rbynaker]

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@sjrcpa wrote:

So how are we supposed to get the correct amount in that situation? The person that didn't pay their child support will say they got the reduced amount, if they can even answer the question.

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Transcript?

I'm just thinking out loud at this point.  In 95% of the cases (or more) I'll have an expectation of what they were supposed to get based on 2018 and 2019 (and when we filed 2019).

There were a few where we held off filing 2019 until after EIP1 since filing 2019 may have reduced the amount.  I'm thinking those folks will get reduced EIP2 payments (based on 2019 instead of 2018) but I'm not sure about that.

If the client tells me they got the amounts that I was expecting them to get I don't plan to look any further.  Before putting anything unexpected on the 2020 tax return I plan to do some more due diligence in getting documentation.  Not sure yet what that might be.  I'm still hoping that the IRS will have a lookup tool available.

Rick

[Just-Lisa-Now-]

Ive been seeing people over in the Tax Pro FB groups with clients telling them 

"My transcript shows 2400, but they only deposited 600!" 

Its going to be a huge mess with this second round!

[sjrcpa]

I'm still hoping that the IRS will have a lookup tool available.

So am I.

[qbteachmt]

You or your client get their Stimulus amount info at this link:

https://www.irs.gov/payments/view-your-tax-account

Or get it by paper. I earlier posted this link to an account transcript image, which you can get for them or they can get for themselves. It shows how the listings appear:

https://www.irsmind.com/irs-notices/irs-transcripts-now-provide-stimulus-payment-information/