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Millions will have to repay part of tax credit
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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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