Lion EA

Prayers went up for your daughter from Weston, CT, this morning.

Exactly. Fire them both. Or, if your favorite of the couple wants to file MFS, keep only her or him.

https://www.irs.gov/payments/online-payment-agreement-application

I like this better than Form 9325 with confidential information. Here's what CCH sends to me (or directly to client): From: [email protected] <[email protected]> Sent: Thursday, March 4, 2021 6:52 PM To: [email protected] Subject: 2020 Electronic Return Accepted by Connecticut Dear JANE DOE You are receiving this e-mail on behalf of DOLLARS & SENSE LLC. No action is required; this notification is for your tax records only. This email is to confirm your 2020 Connecticut State Individual return has been successfully e-filed with the respective taxing authorities. Your SubmissionID is 0632822021063044fj59. Your Client ID is FIORE . Thank you for the opportunity to serve you. Regards PLEASE DO NOT REPLY TO THIS E-MAIL. We generate this e-mail automatically from your request to be notified when your return or extension is accepted by the taxing authority. We do not monitor this e-mail address for incoming e-mail traffic. If you need assistance or have a question, please contact the firm preparing this return for you. Thank you.

I use ProSystem fx which generates a variety of acknowledgements. I like the email to clients; however, I don't have it sent directly. I have the emails set up to come to MY email address. Then, I forward with a personal message, maybe reminding them a payment will be direct debited or to make their first ES payment. For state email, I use this introduction: And, your CT acceptance 4 March 2021. For federal email, I write, for example: Jane (not a real client), Your 2020 federal income tax return was accepted by the IRS on 4 March 2021 as explained in the forward below. Prior to the pandemic, the IRS claimed it deposits 90% of refunds within 21 days. After 24 hours, you can check your refund status at https://www.irs.gov/refunds Please remember that you can contact me at any time with questions or concerns. Best, Rita Rita Lewis, MBA, EA Dollars & Sense, LLC voice: (203) 557-0909 fax: (203) 663-8383 text: (203) 451-3010 web site: www.DollarsSense.com Any advice or opinion is based on client-provided information If any information is either missing or inaccurate, then the opinion or advice may change accordingly.

I worked with a client very, very early in the PPP process. At that time, the application asked for employees and ICs paid. I think he applied on a Thursday. That Friday the SBA and BoA "clarified" that by employees and ICs, they meant employees only. (The SBA was opening PPP Loans to the self-employed, so they applied for their own loans instead of being included in the people paid by their clients' loans.) For my client, it was no problem as he had lots of eligible nonpayroll costs; and ultimately the 24 weeks instead of 8 meant his payroll costs alone got him total forgiveness. For that Chicago person, if she had no employees, only ICs, then it's a big problem. And, the PPP loan is not 1% for 30 years like the EIDL. It's only 2 years if before 5 June or 5 years if after; don't remember the interest rate. Payments were deferred for 6 months, but interest continued to accrue.

If he CAN be someone else's dependent, then he IS a dependent. The only thing he'd get is the non-refundable part of the AOC, if his parents don't claim him. No EIP3. No RRC. No EIC.

I just got out of a webinar where the instructor referred to them as CongressCritters.

Hug her hard.

If it's the TP first request for any PPP Loan, then it's PPP1 with its own set of requirements. If the TP already had a PPP Loan forgiven or likely to be forgiven and he's requesting a second loan, now it's PPP2 and has the 25% drop in income requirement. Make sure he uses the correct (1st draw or PPP2) application form from his bank.

For the 1st PPP, that was not a requirement. For PPP2, income needed to drop 25% or more year-over-year OR one quarter-over-quarter. I just helped a client whose income dropped 23%, and his first three quarters dropped no more than 23%. But his 4Q2020 income dropped 40% from 4Q2019, and his loan is in his bank account. Work with your client's bank to see how they want it presented.

Who mentioned? The IRS still will be sending out EIP3 through August, at least. Are you saying we anticipate the amount when we file 2020? Or, amend 2020 after receipt of EIP3? Or,...?

This isn't as detailed as I'd like, but it is from the horse's mouth: https://www.irs.gov/taxtopics/tc356#:~:text=also sign it.-,If you're a surviving spouse filing a joint return,if the death occurred before

Last year I added an hour/night to my sleep when the IRS extended the deadline. With this short extension, I'm not doing that !! I am going to keep preparing returns longer before breaking my stride to prepare extensions, though. Maybe the first week in May.

I've been getting that also. However, I have lots of clients over $150,000 and EIP3 has a phaseout range of only $10,000. But I have to stop and calculate and reassure... Thanks for that article.

Check the states, though. Not all are in lock-step with the TCJA.

For 2020, the APTC repayment is temporarily suspended under the American Rescue Plan Act. The ARPA increased the ACA PTCs for 2021 and 2022.

Yeah, it's the number of kids and not which kids. The number of people on the 2020 return are how many who get the 2020 RRC. Just focus on 2020. 2018 and 2019 EIP were only advances on the 2020 RRC. You just have to know if THIS client (not the ex or anyone else) received any advances to enter on the worksheet. (Don't look ahead to EIP# yet!!!)

https://floridajobs.org/Reemployment-Assistance-Service-Center/reemployment-assistance/claimants/tax-information

If both taxpayers were alive at any time during 2020, no matter how short a time, then EIP1 and EIP2 for two taxpayers.

Well that makes as much sense as the instructions for UI benefits! Maybe we can't blame the lawyers who write the laws when the English language is not consistent.

If her spouse was alive during 2020, the surviving spouse gets the full EIP1 and EIP2.

Use the procedures in this thread or wait for your software to update.

I'm not sure the IRS has released that yet.

"quickly?"!! TAS maybe. E-file Help Desk, if they're even functioning with so many working from home. Her Congressperson. https://www.irs.gov/identity-theft-central