Shorted 3rd stimulus

[Possi]

I'm getting hit with clients who didn't get the full amount of (THIRD) stimulus regarding their children. 

They will eventually get the full amount, when the IRS catches up. 

Here is a good article that I am sending my clients:

https://www.kiiitv.com/article/news/verify/verify-dependents-third-stimulus-check-money/77-087f2213-3fc1-417c-a60a-eb21210b171e

I hope this is helpful.

[Lion EA]

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.

[Lee B]

The IRS has released an announcement saying that they are using their discretionary authority

to not deduct unpaid taxes etc. from the third round stimulus payments.

[Possi]

3 minutes ago, cbslee said:

The IRS has released an announcement saying that they are using their discretionary authority

to not deduct unpaid taxes etc. from the third round stimulus payments.

So, some back taxes MIGHT be paid with the third round? How practical!

[TexTaxToo]

I got a note from my bank that said they would make the full amount of EIP3 available for use/withdrawal even if the account is overdrawn.  Is that common?

[Lee B]

8 hours ago, cbslee said:

The IRS has released an announcement saying that they are using their discretionary authority

to   NOT    deduct unpaid taxes etc. from the third round stimulus payments.

Emphasis added

[joanmcq]

Thanks for this; just emailed the link to one of my clients.