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03-15-2021, 02:23 PM
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#1
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Registered User
Join Date: Feb 2019
Posts: 1,278
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a gigantic IRS screwup
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my wife and I are both retired - but my wife is not old enough for Medicare - so she has Obamacare
I just received an email from Maryland re Obamacare (even though it's from Maryland I think it applies to the whole country) saying that if you received too much in tax credits you don't have to pay it back
I already filed my taxes - and per my service's software I paid the excess back - and it was a lot
now I'm going to have to do something involving the IRS and the State of Maryland to get that money back
I'm pissed - this sucks - I'm glad I'm getting the money back but having to do all this work is ridiculous
__________________
believe only half of what you see.....and nothing that you hear..................Edgar Allan Poe
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03-15-2021, 02:30 PM
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#2
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Registered User
Join Date: Oct 2001
Posts: 46,883
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Quote:
Originally Posted by Half Smoke
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my wife and I are both retired - but my wife is not old enough for Medicare - so she has Obamacare
I just received an email from Maryland re Obamacare (even though it's from Maryland I think it applies to the whole country) saying that if you received too much in tax credits you don't have to pay it back
I already filed my taxes - and per my service's software I paid the excess back - and it was a lot
now I'm going to have to do something involving the IRS and the State of Maryland to get that money back
I'm pissed - this sucks - I'm glad I'm getting the money back but having to do all this work is ridiculous
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Big Gov never has subscribed to the tried and true K.I.S.S. principle. I wish you the best in sorting this out.
__________________
Consistent profits can only be made on the basis of analysis that is far from obvious to the majority. - anonymous guru
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03-15-2021, 02:30 PM
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#3
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Registered User
Join Date: May 2011
Posts: 22,461
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it is part of a $1.9 Trillion dollar law
that was signed a couple days ago
H.R.1319 - American Rescue Plan Act of 2021
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03-15-2021, 02:40 PM
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#4
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Registered User
Join Date: Oct 2001
Posts: 46,883
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Quote:
Originally Posted by davew
it is part of a $1.9 Trillion dollar law
that was signed a couple days ago
H.R.1319 - American Rescue Plan Act of 2021
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Yeah...and how many hundreds of pages long was that bill?
__________________
Consistent profits can only be made on the basis of analysis that is far from obvious to the majority. - anonymous guru
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03-15-2021, 04:39 PM
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#5
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Registered User
Join Date: Feb 2019
Posts: 1,278
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......................
actually, it wasn't an IRS screwup - my bad
I read it real fast and got hot and posted before I fully understood what happened
*
__________________
believe only half of what you see.....and nothing that you hear..................Edgar Allan Poe
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03-15-2021, 04:41 PM
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#6
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Just another Facist
Join Date: Mar 2002
Location: Now in Houston
Posts: 52,619
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Quote:
Originally Posted by davew
it is part of a $1.9 Trillion dollar law
that was signed a couple days ago
H.R.1319 - American Rescue Plan Act of 2021
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I just finished an hour long conference call on what it’s going to take to participate in the restaurant relief.
I’ll have 100 hours or more in it
Btw.....it looks like there is nobody willing to handle the program. They are going to force it on SBA just because they already have the PPP data.........it will take months before anybody gets anything
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03-15-2021, 04:53 PM
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#7
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Registered User
Join Date: Nov 2012
Location: Bakersfield, CA
Posts: 1,791
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I own an Accounting Firm.
The government has turned into one giant cluster.
Along with the changes to the health care credits they also now want $10,200 of unemployment deemed not taxable for 2020. Like half the country took unemployment at one time or another last year. Alot of them already filed
For 2021 they are going to PREPAY child tax credits to parents ($300 per child per month. Hello Universal basic income). What happens at the end of the year if the parents made too much to claim the credit they already got? What if the parents are separated and they alternate who claims the kids year to year (VERY common)
Add in that the State of California STILL hasn't decided if they will tax PPP money and it has been the worst filing season on record.
The government has lost all sense of detail. They just sign shit into law without any regard for what it will actually take to do it, and do it correctly on the ground.
Being in this profession I can't believe that anyone would buy into a word the government says. Everything they claim to have under control they don't. Everything they promise they will do they don't follow up on.
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03-15-2021, 04:55 PM
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#8
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Registered User
Join Date: Nov 2012
Location: Bakersfield, CA
Posts: 1,791
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Quote:
Originally Posted by JustRalph
I just finished an hour long conference call on what it’s going to take to participate in the restaurant relief.
I’ll have 100 hours or more in it
Btw.....it looks like there is nobody willing to handle the program. They are going to force it on SBA just because they already have the PPP data.........it will take months before anybody gets anything
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Pretty sure they did the same thing with entertainment industry, it was called the "venue relief program" or something like that. The program was promised last summer, I don't think they have even managed to get the application drawn up.
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03-15-2021, 07:32 PM
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#9
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Registered User
Join Date: Feb 2019
Posts: 1,278
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.....................
okay, now it's gotten almost comical
I sent a support request to my tax service and they sent me back a message
basically they said, "sorry, we don't know what to do either - later alligator"
here it is:
*
__________________
believe only half of what you see.....and nothing that you hear..................Edgar Allan Poe
Last edited by Half Smoke; 03-15-2021 at 07:34 PM.
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03-15-2021, 08:10 PM
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#10
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Registered User
Join Date: Nov 2012
Location: Bakersfield, CA
Posts: 1,791
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Quote:
Originally Posted by Half Smoke
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okay, now it's gotten almost comical
I sent a support request to my tax service and they sent me back a message
basically they said, "sorry, we don't know what to do either - later alligator"
here it is:
*
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That pretty much sums it up. You have to remember the IRS is just the entity that interprets and enforces the stuff that lawmakers come up with. So they've been passed down orders to make this work and they've had all of about 3 or 4 days so far to work on it. Oh yeah, and pass out millions of stimulus checks, 2 months after they passed out the last stimulus checks.
All this while trying to process 2020 tax filings that did not begin until Feb 12. Also they were behind processing 2019 filings because the IRS was totally shut down for much of last year. So they went months without processing any mail or faxes that they were receiving.
Like I said it's a shit show. That Congress and lawmakers do not recognize this and slow the **** down is beyond me.
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03-15-2021, 08:25 PM
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#11
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Registered User
Join Date: Oct 2001
Posts: 46,883
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Quote:
Originally Posted by Rex Phinney
I own an Accounting Firm.
The government has turned into one giant cluster.
Along with the changes to the health care credits they also now want $10,200 of unemployment deemed not taxable for 2020. Like half the country took unemployment at one time or another last year. Alot of them already filed
For 2021 they are going to PREPAY child tax credits to parents ($300 per child per month. Hello Universal basic income). What happens at the end of the year if the parents made too much to claim the credit they already got? What if the parents are separated and they alternate who claims the kids year to year (VERY common)
Add in that the State of California STILL hasn't decided if they will tax PPP money and it has been the worst filing season on record.
The government has lost all sense of detail. They just sign shit into law without any regard for what it will actually take to do it, and do it correctly on the ground.
Being in this profession I can't believe that anyone would buy into a word the government says. Everything they claim to have under control they don't. Everything they promise they will do they don't follow up on.
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It is what it is because the politicians don't have to do any grunt work whatsoever. They leave that to the peons.
__________________
Consistent profits can only be made on the basis of analysis that is far from obvious to the majority. - anonymous guru
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03-15-2021, 09:57 PM
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#12
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Join Date: Mar 2001
Location: Reno, NV
Posts: 16,878
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Quote:
Originally Posted by Rex Phinney
That pretty much sums it up. You have to remember the IRS is just the entity that interprets and enforces the stuff that lawmakers come up with. So they've been passed down orders to make this work and they've had all of about 3 or 4 days so far to work on it. Oh yeah, and pass out millions of stimulus checks, 2 months after they passed out the last stimulus checks.
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Which, BTW, some of us never received.
The IRS says that if you didn't receive a check or electronic payment, you should claim it on your next tax return as money owed by the government.
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03-15-2021, 11:13 PM
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#13
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Just another Facist
Join Date: Mar 2002
Location: Now in Houston
Posts: 52,619
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Quote:
Originally Posted by Rex Phinney
Pretty sure they did the same thing with entertainment industry, it was called the "venue relief program" or something like that. The program was promised last summer, I don't think they have even managed to get the application drawn up.
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Covered that with the Nat. Rest Assoc. today. One of the first things they pointed out was the fact that nobody is running the program for theaters etc. Even though it’s been law for awhile
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03-16-2021, 02:11 AM
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#14
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Registered User
Join Date: Nov 2012
Location: Bakersfield, CA
Posts: 1,791
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Quote:
Originally Posted by Dave Schwartz
Which, BTW, some of us never received.
The IRS says that if you didn't receive a check or electronic payment, you should claim it on your next tax return as money owed by the government.
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Anyone who did not get the first or second stimulus can get it as a credit on their 2020 filing. Their plan on the second stimulus was always to pay them out until Jan 15 and then shut it off and give the money on tax returns. This would prevent people double dipping.
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03-16-2021, 08:12 AM
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#15
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Join Date: Mar 2001
Location: Reno, NV
Posts: 16,878
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Quote:
Originally Posted by Rex Phinney
Anyone who did not get the first or second stimulus can get it as a credit on their 2020 filing. Their plan on the second stimulus was always to pay them out until Jan 15 and then shut it off and give the money on tax returns. This would prevent people double dipping.
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We both got the 1st one electronically.
My wife got the 2nd but I did not.
Logical question is, "Why not?"
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