Is there going to be a paper form. I have several clients who do not have internet access. Can I, as the preparer, do it online for them. Can I use my email and phone number to create a log in?
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paper form for opting out?
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I assume you are talking out "opting out" of the Advance Child Tax Credit.
I doubt if there will be a paper form. The IRS is so backed up, by the time they process a paper form it could be almost the end of the year.
I have read that it is quite a bit of work to go through the online portal, and if you were to do it, at a MINIMUM you would need the client there with you. But they likely would need their own email address (which you could also help them with).
Personally, if for some reason the client does not want the Advance payment, I would recommend they take it anyways and just deposit it into a savings account until they file their tax return.
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A quote from IR-2021-130:
Anyone who lacks internet access or otherwise cannot use the online tool may unenroll by contacting the IRS at the phone number included in your outreach letter.
https://www.irs.gov/newsroom/irs-ann...redit-payments
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A client of ours called and wants to opt out. Client has internet assess, but the Id.me requirements are very "big brother" in nature to the client and they wish to call. And the client has not received a letter yet. I guess the client started the process online but id.me want a full head scan using their cell phone !! ??? Im not much for conspiracy theories, but if thats true, thats nuts. I dug and found the opt out number if anyone needs it. 1-800-908-4184
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I'm afraid we are going to have some confused clients. most of mine liked the way it was - child tax credit paying their income tax. What about the clients that don't reconcile their account, money in the account, money spent. There won't be any saving for tax day. These are the ones who want to opt out. I think it should have been the other way around - opt in to advanced payments.
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Originally posted by JenMO View PostI'm afraid we are going to have some confused clients. most of mine liked the way it was - child tax credit paying their income tax. What about the clients that don't reconcile their account, money in the account, money spent. There won't be any saving for tax day. These are the ones who want to opt out. I think it should have been the other way around - opt in to advanced payments.
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