Stimulus checks

[Larmil]

Is there a difference or what should I be concerned with in filing a regular return vs a stimulus payment return?

In Wisconsin we have a homestead credit that I prepare for many seniors and normally I only efile the Wisconsin. However, this year I have been efiling Federal and State because of the stimilus rebates and am hoping these people will be on track to receive the rebate check.

We have a similar thing in MO. In those cases I efile the Fed and MO since I have all the income. With the stimulus return I don't have to concerned with the income other Soc. Sec.

[Larmil]

for the IRS. It would make sense that whatever they do as far as a form would be something that could be electronically filed. That way it goes directly to their computers. They won't have to hire a lot of data entry people to imput the returns. Checks can be processed faster.

Electronic filing would be most efficient.

Linda F

The indications are that will they program for efile. I had a client last week that works at the KC service center. He said they were flooded with paper returns.

[oceanlovin'ea]

efiling would be easier

for the IRS. It would make sense that whatever they do as far as a form would be something that could be electronically filed. That way it goes directly to their computers. They won't have to hire a lot of data entry people to imput the returns. Checks can be processed faster.

Electronic filing would be most efficient.

Linda F

[JohnH]

I think I understand

I think they mean that the returns they prepare get back $1,300 more than the returns would get back if they were prepared incorrectly. Using that standard, I think the returns I prepare get back $1,400 more on average than they would have gotten back if I prepared them incorrectly.

[Jesse]

I believe this would suffice but but you are preparing, signing and 'responsible for' an actual tax return not a "Stimulus Payment return".

Is there a difference or what should I be concerned with in filing a regular return vs a stimulus payment return?

In Wisconsin we have a homestead credit that I prepare for many seniors and normally I only efile the Wisconsin. However, this year I have been efiling Federal and State because of the stimilus rebates and am hoping these people will be on track to receive the rebate check.

[Larmil]

I'm not sure I'm understanding this correctly - if a person has $5.00 in interest on line 8a and Social Security benefits of $12,000 on 14a but $0 on 14b and I efile, will this suffice or do I have to print it out and write "stimilus payment" on the top & have the client mail this in?

I believe this would suffice but but you are preparing, signing and 'responsible for' an actual tax return not a "Stimulus Payment return".

[Jesse]

I'm not sure I'm understanding this correctly - if a person has $5.00 in interest on line 8a and Social Security benefits of $12,000 on 14a but $0 on 14b and I efile, will this suffice or do I have to print it out and write "stimilus payment" on the top & have the client mail this in?

[ecb34691]

Unless you have other income to make AGI greater than zero. Did one yesterday because he had about $2000 on 1099R (over age 59.5) and SSA. Was e-filed and "ack" on the 6pm "drain".

[Larmil]

at the form, I take it this form will have to mailed in rather than E-filed.

Yes, at this point.

[LawrenceGR]

I looked

at the form, I take it this form will have to mailed in rather than E-filed.

[Larmil]

With LInda. Although I haven't looked at the link quoted tonight, there's no doubt in my
mind that any return prepared by any reputable preparer, be he EA,CPA, PA, etc,
will include all income.

It is not an income tax return. It is a stimulus payment return on a tax return form.

[Fuzzy Faced Leader]

The return has to show SS income of at least $ 3,000 to receive the rebate. Thus, a "dummy" return will not work.

[ChEAr$]

Agree

Not a "dummy" return but a “Stimulus Payment” return. See http://www.irs.gov/pub/newsroom/1040a.pdf.

With LInda. Although I haven't looked at the link quoted tonight, there's no doubt in my
mind that any return prepared by any reputable preparer, be he EA,CPA, PA, etc,
will include all income.

[Larmil]

Just thought of something I read in an earlier post and want to clarify what was said.

People who are not required to file a return must file a return for 2007 in order to get the check this summer.

Someone said that we will just have to put their social security figures in. Then file the return. BUT these people have some interest income usually and maybe a small pension. If we prepare a "dummy" return and only put their social security on it, will that trigger a letter from the IRS later because their return won't match the reporting done to the IRS?

Linda F

Not a "dummy" return but a “Stimulus Payment” return. See http://www.irs.gov/pub/newsroom/1040a.pdf.

[oceanlovin'ea]

Just thought of something I read in an earlier post and want to clarify what was said.

People who are not required to file a return must file a return for 2007 in order to get the check this summer.

Someone said that we will just have to put their social security figures in. Then file the return. BUT these people have some interest income usually and maybe a small pension. If we prepare a "dummy" return and only put their social security on it, will that trigger a letter from the IRS later because their return won't match the reporting done to the IRS?

Linda F