$1146.24 stimulus refund check?

[AZ-Tax]

My client emailed me and wanted to know why he did not receive the full $1200. He received a Fed refund on his 2007 tax return. Anyone having this same experience and/or know why this is?

[BOB W]

My client emailed me and wanted to know why he did not receive the full $1200. He received a Fed refund on his 2007 tax return. Anyone having this same experience and/or know why this is?

What was his Federal AGI? and filing status???

[les grans]

Did he have about a $50 unpaid balance on a prior year? :-)

[BOB W]

Did he have about a $50 unpaid balance on a prior year? :-)

I considered that but he said that he got his 2007 refund.............

[AZ-Tax]

Agi

$47,043 MFJ...no dependents

[BOB W]

$47,043 MFJ...no dependents

OK> what was his total tax liability?

[AZ-Tax]

Total tax...

$2516

My tax software estimated him to recieve $1200

[Byron]

Handling charge

Handling charge $53.76 to Halliburton for a party for **** Cheney. (evidently the software thinks he's an obscenity)

[BOB W]

$2516

My tax software estimated him to recieve $1200

I have no clue,,,,, sorry...................

[JohnH]

Tell him he can either call the IRS himself, or you will research it for him and your fee will be $ 253.76.

Then let him decide what he wants to do next.

[Black Bart]

$47,043 MFJ...no dependents

tax liability on that AGI is $3,646 and net tax liability was $2,416. What was the $1,230 credit for?

[ChEAr$]

Better yet,

wait for the letter that IRS is sending explaining the amount of the rebate.

All our clients will get one, and they of course will file it away to bring to us next year.

Right.

[AZ-Tax]

Thank you Professionals but

this is insane. I going to spend hours trying to figure why the IRS did what they did, I think not. A client who filed an ext emailed me just before April 15th wanting to know if their rebate will be delayed due to filing an ext. I replied my hands are full with tax preparation so I suggested they call the IRS and I will retain the stand. The rebate is not my responsibility.

Whose with me?

Thanks for all your help.

[JohnH]

I'm not really with you on this. I don't mind spending hours investigating it for the client, as long as they are willing to pay for the time. ONce it's explained in that manner they will decide to wait and see.

I also had some extension clients email me asking about the rebate - I just responded with the fact that they should get their rebate about 2-6 weeks after they get their refund, which they will get after I finish their return. No big deal. And if they use email I always respond quickly just to reinforce that email is the best way to hear back from me ASAP. I also sent them the link to the IRS site just in case they want to learn more about it.

Rebate questions can be a nuisance if you let them, but they are also an opportunity to provide some added value if it's handled right. They are also a great way to migrate more clients in the direction of using email, which in my opinion is worth its weight in gold going forward. The key is not allowing these types of distractions to take up TOO MUCH of your time.

[OtisMozzetti]

Phaseout, to the penny, based upon AGI

I couldn't find any answer so far to the question about what was the client's AGI. It seems to me that the reduced economic stimulus payment may likely have been because of the income phaseout, calculated to the penny apparently.