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Stimulus checks short
neacpa
Member Posts: 2,711 ✭✭✭
I have had half a dozen or so clients call me this morning saying they only received a portion of the 3rd round of stimulus deposits today. All are receiving exactly half of what they should be. They are not over the income thresholds for a reduction and some are with dependents and some without dependents. Everyone's situation is different and I cannot figure out what is going on.
I have reached out to others just to see if they received all of theirs and they have.
No rhyme or reason as to what the IRS is doing.
The only thing I can tell them is to call the IRS but to be prepared to be on hold for at least an hour.
Comments
I thing the term tax refund sound better than stimulus. Paid plenty over the years.
Interesting haven't heard that at all but Wife and I got the full deposit today.
Wife & I got $2,800 direct deposited today, we have no dependents.
Most federal agencies now contract out work that used to be done in house. I bet that some Tesla-driving moron messed up.
Neal
We got a letter Monday stating $1,200.00 would be deposited within seven days. We are well under the income cutoff. Haven't checked the bank balance yet. A little strange.
$1,200 makes no sense. It is supposed to be $1,400 for each person, regardless of age. A lot of folks received a letter dated middle of February that made reference back to the January 2021 checks. Confused a lot of folks, they thought they were getting another check.
Are you an accountant?
Is the notification a possible spam attack seeking personal info.? Is the "pending" showing up in their bank accounts W/O any other data provided?
The checks are short. They should all be a million Dollars. That would solve the homeless problem, student debt problem and really stimulate the economy. (Sorry I can't find how to make this print green.) Yes, of course all this nonsense will drive up the National debt but it's not like anyone pretends anymore that it will ever be paid off. It will just continue to drive down the value of our currency which is a tax on savers. At some point we will have to start cutting zeros off the currency & finally Zimbabwe here we come. Hopefully I'm old enough it wont happen in my lifetime but very likely in my children's & certainly my grandchildrens.
Only in my spare time while not patrolling the outer limits of civilization looking for the bad guys to "encourage" them to do right. But when I do find them, they are already trying to make amends for a life-long career of lawlessness after getting a beating from some guy named Don. I mean, who is this guy??
He is a Certified Public Accountant. In the accounting profession, he's at the top of the pyramid. I believe that CPA's can also represent taxpayers before the IRS
I got the same letter today and it is stating that you received the $1200 payment in 2020. It expalins that you do not have to claim the $1200 as income when you file your taxes from 2020. Mine said the 7 days as well, but that's wrong. The $1400 payout is a 2021 stimulus plan. Confusing, yes.
What a waste of money. The US Gov should use the money to pay down the debt, that would help the whole country or at least the people who pay taxes.
Yes it's crazy. I do not qualify, but my 80year old mother does in full. She got an ACH for 700 plus bucks which makes zero sense.
The gub f's up everything plain and simple.
Kinda hard to repay debt with borrowed money,no?
Reckon they figured SC started the last big war and they got them to us first
What borrowed? They are just printing the money.
wouldn't be because they owe taxes this year and had it deducted from stimulus???????
My wife and I got the first stimulus of $1,200 each. The second stimulus of $600 my wife got. I did not get the letter or $600. Now I am forced to use a Recovery Rebate Credit Worksheet to get my $600. I have always filled joint and nothing has changed. I am hearing and reading this problem is wide spread. What a PIA the IRS is.-----------------------Ray
PS: Would it not be reasonable to call the IRS (assuming I could get thru in about an hour if I am lucky) and have them check their records and verify that I was never sent the Letter or $600 stimulus and send it to me. I am telling you the system is broke. I am almost ready to tell them to take the $600 and shove it.---------------------Ray
I'm seeing signs that some/most/all of the "letters" never were printed or mailed.
No one should be surprised. A project like this should have taken 6 months; Trump gave his cabinet flunkies 14 days to get the first stimulus out. So, they did the best that they could in 3-4 days, & let it rip.
The 2nd & 3rd stimuli were done the same way. If you didn't get what you were supposed, write to IRS & you will eventually get what you are owed.
Neal
That letter you got about the check for 600/1200, was for the last stimulus payment. Check the fine print in the letter.
They sent the second check to a bank where I had closed the account. I almost gave up & was going to ask for it with my Income Tax return when a paper check arrived. They won't let you change the bank account you have on record so now I wonder if they will do the same thing again?
Unless you had your return filed AND they processed it early, then they will be attempting to send it to the closed account. This may not be applying to all, but that is what I have been seeing.
Me Too! No reason at all for this amount in my case.
I got a letter from the iRS and they said I would get $1200 bucks.
I just got the same letter. This was for the check I received Feb 5th. Strange people. At first I thought it was the check for the $2800 & I was saying they were really on the ball. REALLY strange people.
The timing of the $1,200,00 letter being on the same day they were to start paying the $1,400,00 payment made me think it was the current payment. Once I read it for about the third time I realized I have a comprehension problem. Like all government communication it was perfectly clear.🙄
I don’t feel to stimulated. I feel a goat roping has taken place. One gasoline is up 1.00 a gallon since Kammy has taken over.(
Yep I think I got it figured out. My wife spends a lot of time watching CNN. She got her $600 stimulus for a reward. Now me, I am as pro-gun as you can get and I have made a lot of waves against King Cuomo. I think the Dummycrats in Albany have conspired with the Dummycrat IRS programmers. They know I always owe them money and file a paper return. So they send my wife a reward and don't send me the $600 stimulus or the letter for punishment. Maybe the IRS has got our number and stalling the payout to help the governments cash flow. Today I applied for my $600 stimulus on my 1040SR. Actually for the first time in years I will get a little back. Will probably tick those Dummycrat IRS programmers off. 🙂 -------------------------------------------Ray
The first time we got stimulus payments we got a card that had "Larry McKay" on it that contained both his and MY payment on it. Larry used it to pay toward buying a zero turn mower. This second thing I keep hearing about I've not seen anything at all....no payment at all and no hint that we will be getting something. I worried that maybe they sent out another card and it was tossed with junk mail. I don't think that is the case though. This time we were going to put some money toward getting some windows done in our house. I don't actually expect to get anything really though. If we don't see it by the time we file our taxes I think the plan is to claim credit for it on our taxes, at least that is what I've read you are supposed to do. I haven't actually checked with out accountant on that though?
Kasey I think using the the stupid check to buy a Zero Turn Mower is just about the best thing I have heard in a long time.
What kind did Larry get?
Its a Country Clipper....he wanted something made in the US with a welded deck is all I remember he said about it. I've acted like I was going to go get on it and he "made time" to mow the grass, so I don't ever plan on needing to know much about it. I think if I wanted to mow the grass I'd have to go buy my own to do it.
Nice!
I want one too. But I need to do more than mow so I have to have a small lawn tractor. I wanted a Skag and and I wanted to just haul * cutting grass...............
I got nada last year and nada this year. At least I am not confused.
Kasey, the credit for stimulus is right at the end of 1040/1040SR. There is a work sheet to calculate what they owe you. Also they extended the filing time from 15April to I believe 12 May. Most likely if you don't get the third stimulus it will be too late too get it on this years return if that is the way IRS will handle their mess.---------------------Ray
05/17/21
Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline | Internal Revenue Service
Got a notification yesterday that $2800 will be deposited on the 24th. Don't know why it is delayed (maybe they haven't printed the extra $$$$ yet!). So far, we have just put all the "giveaway" money in a jar buried in the back yard to have for the proverbial rainy day.