Millions will have to repay part of tax credit

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  • AZ-Tax
    Senior Member
    • Feb 2008
    • 2604

    #1

    Millions will have to repay part of tax credit

  • Jiggers
    Senior Member
    • Sep 2005
    • 1973

    #2
    Lovely

    And guess who will have to take the heat for this?

    We tax return preparers.

    Client's have no comprehension of this and that they should have checked their withholding.

    I have clients who usually receive $500 or less in refunds each year. No problem, as that is the way it should be instead of loaning the money interest free to the government.

    However, I can see problems with them now owing:
    Both work
    Both receive retirement benefits on 1099R's
    Both receive SS benefits

    or some combination of all of the above.
    Jiggers, EA

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