Well, it has happened again. The glazed-eye look when I go over the completed tax return and explain that the MWP is gone for 2011, or that it caused them to pay for 2010, or they rant about their withholding going up, etc. etc. MWP? What's that? Even calling it the "Obama" MWP and trying to explain when it came about is futile. It's like they never heard of it.
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Last edited by Burke; 03-03-2011, 11:01 AM. -
More Accurate
A more accurate name for the credit would be "Making Work Credit."
Making work for US, that is.
Have a couple that missed the $250 SS payment in 2009, got it in 2010 with the 2009 return. Now they can't understand why I "won't" give them the credit again on the 2010 return...
They left mumbling, "Maybe IRS will catch it..." This is after I printed the article from SS Online that states clearly that it was a "one-time payment of $250...blah, blah, blah" and fill out the Schedule M for them.If you loan someone $20 and never see them again, it was probably worth it. -
People have very short memories. Once they get a credit, they want it again, and again, and again.
Why did my taxes go up? Never, wow, I got more in my check!
I hate it when my clients' kids turn 17....Comment
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Major "DITTO"!Originally posted by joanmcq View Post
I tell them "They ARE still your dependent, however the $1,000 child tax credit disappears", soooooooooooo many come back that tell me their friend said they still got to take their kid even though they turned 17.Comment
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Yep
At least the front page of Form 1040 now says "under 17" but that has been a PITA for me, too.If you loan someone $20 and never see them again, it was probably worth it.Comment
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SIngle mom
Had a single mom who's kid turned 17 in 2010 and had energy credits in 2009, so a $2,500 difference this year! I had alerted her to that last year when she had a $3,000 refund. More investment income this year tilted the scales against her (more income but from items with NO withholding) so she owes a bit. Wish I had put that in writing last year. She's a sweetheart and got it immediately. But, I've learned my lesson re spoken vs. written word.Comment
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Back to schedule m for a moment.
here's a fellow, retired civil service (before normal retirement date) on disability, $ 6,600 income plus only Social Security. No kids.
No taxes withheld; no tax liability; no need to even file, right?
Since disability is before normal retirement age, it's line 7 income, and in that case he qualifies for EIC AND..... and making work pay credit! over 800$ worth.
Is this a great country, or WHAT?ChEAr$,
Harlan Lunsford, EA n LAComment
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I know, and then there is the case I just had recently -- the other end of the spectrum. Couple in their 80's now, but one retired on civil service disability way way back. 1099R still shows "3." If I could put in on line 7, they would qualify for MWP and not owe. I can't. So due to the reduced withholding in 2010 on this pension income, they now owe $387 they can ill afford. WHEN will Congress get out of the tax-as-social welfare policy? They could just as well have sent everybody a $400 check that qualified. Would have been much better and not such a problem.Comment
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6 Dittos!!!
DITTO!Originally posted by Burke View Post
HAHAHAHAHA.....THIS IS FUNNY, MADE ME LAUGH (the new name for the credit)! But unbelievable how no matter what you show these people, YOU are still wrong! Funny!Originally posted by RitaB View Post
HUGE DITTO HERE! They always say (the one's that believe me anyways) why don't they change the age to 18?Originally posted by joanmcq View Post
HAHAHA, I HATE THIS AND IT HAPPENS TO ME SO MANY TIMES. They say the exact same thing about their friend. I want to tell them to go to their friend's tax preparer or if their friend did it themselves to have them do their returns!Originally posted by Jesse View Post
THIS DOESN'T MATTER! WE'RE STILL WRONG. Somehow we doctored the form 1040 (federal document even!) to let the government take more from our clients. Are we supposed to get a kickback from these things?Originally posted by RitaB View Post
ONLY IN AMERICA!Originally posted by ChEAr$ View Post
"DON'T ASK WHAT YOU CAN DO FOR YOUR COUNTRY, BUT WHAT YOUR COUNTRY CAN DO FOR YOU!"Comment
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How did you do this? (Take all these quotes from different posts and put in one reply?)Comment
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Just to the right of the quote button is this: "+ and there seems to be a white paper in its background. I just left click all those on each post I want to quote, then hit the post reply or even just one of the quote buttons and they're all there. Pretty cool.Originally posted by Burke View PostComment
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Yeah, just noticed it now that you mention it.Comment
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