2020 Unemployment Benefits up to $10,200

[Twin Turbo Z]

Lets hope crap gets approved or nixed within the next few days. But we are not holding our breath. Congress has not a clue how these mid season changes effect the IRS and us. Who the heck knows what next year will bring us !!!! Maybe valium and a cold beer ?

[Bucky]

All I can say is thank God we can efile amended returns now. On the charging them question mine are paying.

[Twin Turbo Z]

I've seen that price all over the place. From $75 to $150. Hopefully a software query will be released to show effected returns quickly. We use Proseries and they are good about that stuff. Unfortunately many of our clients had unemployment. More money I guess !!

[ATSMAN]

One of my biggest issues is that my clients who are going to benefit from this change in law are generally under $60K average income. I have had many of them as clients for over 10-15 years and many are multi-generational. I picked up clients of two retiring accountants few years back. I may have the father making good money and a son just struggling to pay bills. One common thread that runs is that almost all of these clients hate when they are nickel and dimed for every little change. I often get referrals who tell me that they just are not going back to their previous accountant for that very reason.

So I have to be very strategic with these amendments so that I don't upset a well balanced apple cart, especially these multi-generational clients, siblings etc.

[Scarecrow]

Before crying about it, the only reason there is a tax preparation industry is because Congress keeps making it interesting. Charge for your time and be thankful you have a job.

[Twin Turbo Z]

Before crying about it, the only reason there is a tax preparation industry is because Congress keeps making it interesting. Charge for your time and be thankful you have a job.

I have a corn field in which I could use your talents

[MAJ]

Well - it looks like it's _{(The Stimulus Bill - but you know what I was talking about)} going to get signed by President Biden. Yawn... start searching for the UnEnjoyment candidates. If I wait my software will post a report for impacted returns once the update is run.
But - I want to know now so I jump in front of the clients (once final notice hits of course) and notify them as well as, begin preparing the 1040x. Double Yawn...

So, What is the going rate for an Amended return of this nature in your area?
Here in NJ since Un-Enjoyment isn't taxable (Imagine THAT! - or should I say - YET )it's only a Federal and for some clients no matter what I charge it will be a steep price based on their current financial status. For some they won't care because the Amended return will pay for the cost. Others, I know I will be forced to use the Pay-It-Forward story-line and ask them to Pay-It-Forward...

Enjoy!