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Post by Loggy on Mar 18, 2021 17:16:11 GMT -5
Curious how millions of previously filed returns will be handled that included the now untaxable unemployment up to 10.2K. Be great if IRS develops software to automatically correct and issue any correlative refunds due. I only have one family members return impacted. My neighbor filed before this was passed. Her husband was laid off for a month. She did her own tax filing. Will their be something to help those that did their own? There will likely be 2 options when IRS provides additional guidance: (1) IRS automatically corrects & issue refunds(as described above); or (2) Taxpayer files a Form 1040X Amended Return requesting refund. If neighbor prepared original return they should easily be able to handle Option 2 if applicable. If they used TurboTax or other software likely will be updated to easily facilitate.
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Post by Deleted on Mar 18, 2021 18:03:50 GMT -5
My neighbor filed before this was passed. Her husband was laid off for a month. She did her own tax filing. Will their be something to help those that did their own? There will likely be 2 options when IRS provides additional guidance: (1) IRS automatically corrects & issue refunds(as described above); or (2) Taxpayer files a Form 1040X Amended Return requesting refund. If neighbor prepared original return they should easily be able to handle Option 2 if applicable. If they used TurboTax or other software likely will be updated to easily facilitate. I will pass this along to her thanks.
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Post by Loggy on Mar 18, 2021 18:14:12 GMT -5
There will likely be 2 options when IRS provides additional guidance: (1) IRS automatically corrects & issue refunds(as described above); or (2) Taxpayer files a Form 1040X Amended Return requesting refund. If neighbor prepared original return they should easily be able to handle Option 2 if applicable. If they used TurboTax or other software likely will be updated to easily facilitate. I will pass this along to her thanks. Stroup...below just reported today. Sounds like IRS will be automatically taking care of it which is good news!!: Insider IRS Report
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Post by cspot on Mar 18, 2021 18:18:56 GMT -5
Probably a good thing they pushed back the deadline a little on this one with the current changes. I filed my state and federal income tax last night. Did my local a few weeks ago. Realized I had a typo so I had to file an amended return. Darn thing with amended is you couldn't do online, so I had to fill out all the forms. LOL. At least with local tax it isn't that bad.
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Post by cspot on Mar 18, 2021 18:22:52 GMT -5
Anyone know how long the refunds have been taking this year? Don't know what to expect with everything going on.
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Post by Loggy on Mar 18, 2021 18:28:54 GMT -5
Anyone know how long the refunds have been taking this year? Don't know what to expect with everything going on. Returns filed a week or 2 before stimulus #3 processing trigger hit(around 3/12) are really being delayed as far as refund processing per what im hearing. Prior to that...average of 2 weeks before efiled returns eft refunds hit. Returns filed after 3/12...haven't a clue but my guess will be delayed.
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Post by Loggy on Mar 18, 2021 18:36:09 GMT -5
Probably a good thing they pushed back the deadline a little on this one with the current changes. I filed my state and federal income tax last night. Did my local a few weeks ago. Realized I had a typo so I had to file an amended return. Darn thing with amended is you couldn't do online, so I had to fill out all the forms. LOL. At least with local tax it isn't that bad. If you used one of many commercially available software packages(TurboTax etc ) should of been able to easily E-file: E-filing Amended Returns
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Post by Deleted on Mar 18, 2021 18:46:09 GMT -5
I will pass this along to her thanks. Stroup...below just reported today. Sounds like IRS will be automatically taking care of it which is good news!!: Insider IRS ReportGood news!
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Post by Deleted on Mar 18, 2021 18:48:23 GMT -5
I e filed tonight. My tax lady said 21 days. I'm getting over $7,000 quite surprised it is that much with being on unemployment.
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Post by dennyf on Mar 18, 2021 18:52:49 GMT -5
Haven't gotten a refund in decades, mostly because I was self employed for over 25 years. Best part now, costs me between $35 and $60 to have the babe do my taxes, that's been doing them for many years. Fee varies, depending on how hard I make it for her? She does everything on the computer, so I told her she should pay me, since it's now so easy. Dropped my documents off last week. Signs all over the door warning people not to come in. She's having virus nightmares, apparently? When I called to tell her my stuff was in her drop box at the door, asked her what happens if someone opens the door? She said it's normally locked, but sometimes her husband forgets and lets it unlocked. Second best part, since I retired and got old, haven't owed anyone a dime in taxes, except a few times to the state and maybe once or twice to Uncle Sam? Which means I'm as poor as a church mouse, more or less.
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Post by cspot on Mar 18, 2021 19:09:47 GMT -5
Probably a good thing they pushed back the deadline a little on this one with the current changes. I filed my state and federal income tax last night. Did my local a few weeks ago. Realized I had a typo so I had to file an amended return. Darn thing with amended is you couldn't do online, so I had to fill out all the forms. LOL. At least with local tax it isn't that bad. If you used one of many commercially available software packages(TurboTax etc ) should of been able to easily E-file: E-filing Amended ReturnsIt was local tax, so it was on Keystone's website. It won't allow you and makes you do a paper one for amended. Many years ago I had to amend my federal and state and I could do that with my online tax preparation.
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Post by cspot on Mar 18, 2021 19:12:35 GMT -5
I e filed tonight. My tax lady said 21 days. I'm getting over $7,000 quite surprised it is that much with being on unemployment. That is what it says on the IRS website that it should be within 21 days. In past years it was usually quicker than that. With the way things are changing this year and stimulus payments involved, I didn't know what to expect.
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Post by Deleted on Mar 18, 2021 19:32:01 GMT -5
I e filed tonight. My tax lady said 21 days. I'm getting over $7,000 quite surprised it is that much with being on unemployment. That is what it says on the IRS website that it should be within 21 days. In past years it was usually quicker than that. With the way things are changing this year and stimulus payments involved, I didn't know what to expect. Wouldn't be surprised if it took longer then that though. She said on average its taking her other clients 14 days.
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Post by Deleted on Mar 18, 2021 19:34:42 GMT -5
I believe your stimulus is also based off of when you file your taxes this year.
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Post by dennyf on Mar 18, 2021 21:41:01 GMT -5
Tax prep babe told me she has sent the notice for my stimuli check to be processed. Several people I know that filed in January and February, have already gotten their latest checks.
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Post by cspot on Mar 19, 2021 12:12:32 GMT -5
I believe your stimulus is also based off of when you file your taxes this year. Don’t think so. I already got my stimulus. If you already filed then it’s may use your 2020 to determine eligibility. If you hadn’t filed yet they use 2019.
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Post by davet on Mar 19, 2021 13:20:22 GMT -5
I believe your stimulus is also based off of when you file your taxes this year. Don’t think so. I already got my stimulus. If you already filed then it’s may use your 2020 to determine eligibility. If you hadn’t filed yet they use 2019. Ding Ding Ding!! We have a winner!!!
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Post by Loggy on Mar 19, 2021 17:05:58 GMT -5
I helped my Niece E-File her return on 2/23....fairly simple return with a few flow through college educational credits(Form 8863) Refundable & Nonrefundable Education Credits, child credit ...that's about it a very simple return. She's still waiting on her refund. Her #3 stimulus refund EFT timely hit her bank this past Monday. Hearing the IRS is really bogged down so I expect things to be delayed a few weeks.
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Post by Deleted on Mar 19, 2021 18:24:45 GMT -5
I believe your stimulus is also based off of when you file your taxes this year. Don’t think so. I already got my stimulus. If you already filed then it’s may use your 2020 to determine eligibility. If you hadn’t filed yet they use 2019. Then my tax lady told me wrong. Maybe thats not a good thing....
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Post by Dutch on Mar 20, 2021 6:51:46 GMT -5
There was a thing on the news last week. People who filed early were still waiting for refunds. IRS is backlogged. You'll get it when they get around to it.
My stimulus hit on the 17th. My two brothers on welfare (SS), have not gotten theirs. I guess the IRS knows who really needs it. LOL
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Post by Loggy on Mar 20, 2021 7:18:04 GMT -5
There was a thing on the news last week. People who filed early were still waiting for refunds. IRS is backlogged. You'll get it when they get around to it. My stimulus hit on the 17th. My two brothers on welfare (SS), have not gotten theirs. I guess the IRS knows who really needs it. LOL Mine also hit on the 17th. My 87 year old Mom on SS calls me at least once a day asking where's her 1,400 stimulus check & can't I do anything about it!! Thinking about transferring 1,400 from my account to her account to ease her anxiety!! Hearing IRS will "soon" announce the date SS folks will get their stimulus checks.
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Post by dennyf on Mar 20, 2021 9:25:37 GMT -5
Several people in our extended family/friends circle that had filed 2020 returns by the end of January, already had their $1.400 deposited weeks ago.
That's both currently employed AND two on SS. Although the two on SS, just retired in 2020.
Doubt any of them were just making things up?
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Post by Loggy on Mar 20, 2021 9:39:37 GMT -5
Several people in our extended family/friends circle that had filed 2020 returns by the end of January, already had their $1.400 deposited weeks ago. That's both currently employed AND two on SS. Although the two on SS, just retired in 2020. Doubt any of them were just making things up? I believe that Denny as they probably file tax returns either in 2019 or 2020 so IRS looked to those filings for stimulus. My understanding is delay applies to those who solely get SS and haven't filed Federal Tax Returns due to income being below filing requirement. My Mom hasn't filed a Federal 1040 for many years. Pretty sure that's the category of stimulant folks being delayed. I know for #1 & #2 stimulus check Mom got hers with everyone else. She already called me this morning...."where's the beef!!"
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Post by Deleted on Mar 20, 2021 10:00:07 GMT -5
I haven't gotten mine yet. Everyone else i know seems to have. Maybe I made too much? 😃 I only wish.....
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Post by Loggy on Mar 20, 2021 10:10:30 GMT -5
I haven't gotten mine yet. Everyone else i know seems to have. Maybe I made too much? 😃 I only wish..... Stroup....with 2 kids your stimulus payment would be 5,600, 3 kids 7,000(hit link below to get status). If you're on Direct Deposit you should have received it. Paper check will take a lil longer. Now your tax return refund if just filed will be separate & may take couple weeks. Status of Stimulus Payment
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