Stimulus 1040A

[Black Bart]

Just noticed - my updated (source-ATX) 1040A forms are now imprinted (top left) with the words "Stimulus Payment" and that wasn't on there last week. I guess that's the taxpayers' "stimulus package" IRS said they'd put out.

We don't ordinarily use these forms, but since IRS said they wanted them used with "Stimulus Payment" written at the top, I got to worrying about whether or not they'd be processed correctly/quickly if it wasn't on those forms or marked as such at the top and so I started using 1040As. That's probably silly as I now believe (95%) that everything "stimulus" will be processed no matter what or how it's listed (I think Koss or Bertrans made this point a while back). Anyway, I hope that's the case 'cause I've got about 50 out there and am just going to have to wait 'til May-June-whatever for somebody to get a check so I can stop worrying.

I know they're just using tax forms as a vehicle for this thing, but rigging up a half-done 1040/1040A goes against the grain and it's kind of like scribbling nonsense on a serious document -- I just can't hardly bring myself to do it. I'm still asking for all their income and a 1099 to verify it's SSA and not SSI, although I've made a few exceptions for people I think are sincere & truthful, haven't filed for years, can't find their SSA-1099 (some don't keep it anymore), and can't physically endure the hassle of getting an SSA printout.

Anybody starting to long for a "spring break?"

[oceanlovin'ea]

What is "spring break"?

Do you get a spring break? I don't think I know what that is anymore.

Today is my 40th wedding anniversary and apart from my religious obligations, I will be sitting at my desk, trying to catch up.

Linda F

[BP.]

Anybody starting to long for a "spring break?"

That's what today is! (A working break, but at least no phones & people for a day!) And, Happy Anni, Linda!

[Chief]

Happy Anniversary

Neighbor. On May 21 we will be celebrating our 58th. At least tax season will be over for most of our clients.

[veritas]

My last spring break

was in 1969.

Hopefully my next one will be 2018.

[DTS]

Bart

I can't tell you how badly I need this season to be done with! I love the fact that I have a good job, money to live on, etc, but this year has been one that I have not enjoyed, for a number of reasons.

So, with just a few weeks to go, I'm going to make the best of it, quit my whining and get through it. And, thank my lucky stars while I'm at it. Do you want to sit down with a bottle of wine (each) and discuss "stuff" after the 15th?

Happy Easter to all.

Dennis

[JohnH]

Same here

I'm also looking forward to the end of tax season, but I always hit the wall about this time of the season. So tomorrow I'll be reviewing everything that's in and everything that's still to come, with a new round of extensions going out the door by the end of the day. There's something liberating about getting Apr 15 off the table for a bunch of clients so things can go more smoothly in the runup.

Happy Easter to everyone. I enjoyed church services this morning, especially saying hello to the CEO's I recognized. (CEO = Christmas & Easter Only attenders).

[Black Bart]

Spring Break!

Hmmm, I should have skipped the tax talk altogether -- we're all much more taken with "taking off."

Linda -- Yes, all of us should be getting a spring break beginning April 16th.

Veritas -- Why are you going to wait ten years for yours?

Dennis -- I've already beat you to it, my friend. I bought a bottle of the grape Friday night.

JohnH -- Stop complaining about my attendance record; I'm giving you 100% of my business and any CEO will tell you that's "good business."

[JohnH]

Ok

OK Bart. I won't give you a hard time.
As the church treasurer, I'm happy as long as you make up 50% of your giving on each of those two days. Unfortunately, I think the BOSS sets a much higher standard than I.

[Black Bart]

I figure it kind of like

OK Bart. I won't give you a hard time.
As the church treasurer, I'm happy as long as you make up 50% of your giving on each of those two days. Unfortunately, I think the BOSS sets a much higher standard than I.

this -- a little bit different. Like the junkshop client I had some years ago used to do. Asked him his markup; he said "2%." How figured, I asked? "Well, I buy an item for a dollar and sell it for two dollars -- one and one's two, so that's two percent, ain't it?"

So...if a person gives 50% of a week's tithe on Easter and 50% on Christmas, that's 100% isn't it? (Just kidding; I'm sendin' my dough to Children International, St. Jude, and Operation Iraq Kids, so somebody good is gettin' it).

I probably shouldn't make jokes like that -- Chief's a preacher (where've you been so long, Chief?).

Say, do you suppose BP's initials stand for Boss Preacher? I'm in trouble if it does.

[JohnH]

Interesting math

50% of a week's offering each visit - that alone would qualify you as a Baptist, based on the way some people do their giving.

BTW, I don't use the word "tithe". 10% makes some church members feel guilty, and if that were the standard I know lots of others who'd have to reduce their giving to get it down to 10%. Then there would be no place for the majority of people to hold their weddings & funerals when they want to do "something religious".

To me it really isn't about percentages. It's all about making a much more important decision - of the 100% I've been blessed with, how much am I comfortable keeping for myself?

[SueBaby]

Do you get a spring break? I don't think I know what that is anymore.

Today is my 40th wedding anniversary and apart from my religious obligations, I will be sitting at my desk, trying to catch up.

Linda F

Congratulation on your wedding anniversay. Yesterday was my birthday and I worked from 7:30 until 11:30. Closed office at 11:45 singing Happy Birthday to me.

[Koss]

Stimulus Return

I know they're just using tax forms as a vehicle for this thing, but rigging up a half-done 1040/1040A goes against the grain and it's kind of like scribbling nonsense on a serious document -- I just can't hardly bring myself to do it. I'm still asking for all their income and a 1099 to verify it's SSA and not SSI, although I've made a few exceptions for people I think are sincere & truthful, haven't filed for years, can't find their SSA-1099 (some don't keep it anymore), and can't physically endure the hassle of getting an SSA printout.

Bart, I'm pretty sure that if the return is filed electronically, then the taxpayer will get their stimulus payment automatically, based on the schedule announced by the IRS. And I think this includes returns filed without the words "stimulus payment," and returns that include income other than social security, whether it is the "one dollar interest income workaround," or real income, such as a $2000 pension distribution that is actually taxable, but wouldn't normally trigger a filing requirement.

Someone showed me a "stimulus payment" return that was produced by the consumer Free File do-it-yourself version of Turbo Tax, and it had no entries on page two--not even a standard deduction or a personal exemption. I suppose that doesn't make a difference, because they won't have any taxable income anyway. It looks like the concept is that the IRS database has to be aware of the qualifying income, i.e., non-taxed social security benefits of $3000 or more. The way to make that happen is to input the data on line 14a of Form 1040A, and that's really all they care about.

There's even a section of the IRS website that says that qualifying taxpayers can use an estimate of their income from social security if they do not have Form SSA-1099.

I continue to believe that any properly prepared tax form will qualify the taxpayer for the stimulus payment. And like you, I am a bit uncomfortable with the output of the updated software. From the perspective of an experienced tax pro, the form looks ridiculous.

With that being said...

I also believe that if the return is filed by mail, writing the words "stimulus payment" across the top may well have the effect of routing the paper return to special area that will result in faster processing. I think the IRS has hired temps and seasonal employees, and has trained them only on how to process these basic returns.

So if you want a really warped practical joke, for someone that you really dislike...

Tell them to write "stimulus payment" across the top of their paper return, just to make sure they get the rebate, even though the return actually includes something like a Schedule C or Schedule E.

That return will route to the "stimulus queue." The IRS rep that opens that it, to quote George Thorogood, will "take one look and say, Oh, my God." The return will get re-routed, and the guy probably won't get his refund or his rebate until November.

On the other hand, a "stimulus return" that is routed into the regular processing queue because it's on a standard Form 1040 without the magic words will still be processed. But they might not get the stimulus check on the dates posted on the IRS schedule. The processing of the return might be slowed by the fact that it's in the regular queue...

[ecb34691]

Did you all notice the special zip code for mailed stimulus returns at each paper processing center? XXXXX-0099

[Jesse]

I can't tell you how badly I need this season to be done with! I love the fact that I have a good job, money to live on, etc, but this year has been one that I have not enjoyed, for a number of reasons.

So, with just a few weeks to go, I'm going to make the best of it, quit my whining and get through it. And, thank my lucky stars while I'm at it. Do you want to sit down with a bottle of wine (each) and discuss "stuff" after the 15th?

Happy Easter to all.

Dennis

I'm with you for I'm ready for the season to be done, yet as you say thankful to have the job! I'll be ready to sit down with you but I'll just have a good ole Miller Lite! Sitting by a campfire. Dog at my side. Yep I'm ready.