Announcement

Collapse
No announcement yet.

2 Stimulus direct deposits same person

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    2 Stimulus direct deposits same person

    Client got 2 direct deposits for $ 750 each from IRS.

    Anyone have this happen?

    # 1 - They expected a total of $ 1500 ( 600 man + 600 wife + 300 child)

    # 2 - They also expected the man's to be taken away for a student loan from the VA. (he received a letter from the VA stating they would be taking his $ 600. )

    # 3 - Right now I'm not sure if they mistakenly deposited twice or if they just broke it into 2 deposits. Both deposits were the same day.

    I informed client to NOT take any money from the bank account for the second deposit until we find out what is going on .

    Why would they make 2 deposits instead of one for the total $ 1500. At least we would have know it was all for the client. And why would they take the additional $ 150 that would pertain to the child if the VA was only going to take the 600? If anything the deposit should have been $ 900 and $ 600 not completely split in the middle.

    This stimulus is driving me crazy ..... My phone rings every day with clients wondering where their refund is.

    Even my own has not yet arrived and should have been in the first batch.
    And why couldn't they do a direct deposit of the stimulus when we owed money? They have the bank account to take the funds for amount due but they are mailing checks for the stimulus.
    "And So It Begins!!!"

    #2
    question:

    Originally posted by TaxLadyinPA View Post
    Client got 2 direct deposits for $ 750 each from IRS.

    Anyone have this happen?

    # 1 - They expected a total of $ 1500 ( 600 man + 600 wife + 300 child)

    # 2 - They also expected the man's to be taken away for a student loan from the VA. (he received a letter from the VA stating they would be taking his $ 600. )

    # 3 - Right now I'm not sure if they mistakenly deposited twice or if they just broke it into 2 deposits. Both deposits were the same day.

    I informed client to NOT take any money from the bank account for the second deposit until we find out what is going on .

    Why would they make 2 deposits instead of one for the total $ 1500. At least we would have know it was all for the client. And why would they take the additional $ 150 that would pertain to the child if the VA was only going to take the 600? If anything the deposit should have been $ 900 and $ 600 not completely split in the middle.

    This stimulus is driving me crazy ..... My phone rings every day with clients wondering where their refund is.

    Even my own has not yet arrived and should have been in the first batch.
    And why couldn't they do a direct deposit of the stimulus when we owed money? They have the bank account to take the funds for amount due but they are mailing checks for the stimulus.
    Was an injured spouse form filed with the return?
    I ask that in light of your comment # 2 above.
    ChEAr$,
    Harlan Lunsford, EA n LA

    Comment


      #3
      Funny you should say that

      Now this is eeeerrrrryyyy .... I was just thinking .... "I wonder if the fact that they filed an Injured spouse has something to do with the split deposit" while I was scrolling through here to read your response and there you were asking just that question.

      So answer to your question is YES ... We did file injured spouse. So that is probably why we have the split refund. Nice that they cut the child in half for $ 150 to each. *L*

      I assume that they will be getting a letter from the IRS explaining it, but my concern was I didn't want them spending the money this week and finding out next week that the IRS ooops and hit the deposit button twice.

      Thanks for the thought.
      "And So It Begins!!!"

      Comment


        #4
        So.... Is the IRS telling us that the stimulas payments are not effected by any back child supoport etc...???
        This post is for discussion purposes only and should be verified with other sources before actual use.

        Many times I post additional info on the post, Click on "message board" for updated content.

        Comment


          #5
          I don't know where I got the idea

          but I definitely got from somewhere the idea that debts to the government were not going to lessen stimulus payments.

          I agree with OP's concern that the IRS will give money and then ask for it back. I do not think they should be allowed to do that even if they can prove fraud and put you in jail. I think once the government gives you money it should be your money and they should not be able to get it back. I also don't like it when dead people have to give back their Social Security and Pension Checks for the month of death. My Uncle back in the 70s had his bank put $100K that did not belong to him in his account. He tried to explain that the money was not his but the bank officials insisted that they could not have made a mistake. So he closed all his accounts with that bank and took cash home with him. As he had hoped they phoned and demanded the money back. He demanded to know under what law they had the right to demand it back. Eventually they were reduced to asking nicely and he gave them their money back and put his funds back in their bank. Personally they would never have gotten that money back from me unless my lawyer advised me to give it to them.
          Last edited by erchess; 05-10-2008, 01:52 AM.

          Comment


            #6
            Copied from the IRS Q&A concering the stimulus payments:

            =========================================

            Q. I'm eligible for a payment but I still owe federal income tax from a prior year. Will my payment be reduced?

            A. Yes. For this purpose, the stimulus payment is treated like any other tax refund. This means that part or all of your payment can be used to pay past-due federal or state income taxes or non-tax federal debt such as student loans and child support.

            Q. How will I be notified if my stimulus payment was used to offset an outstanding debt?

            A. If this occurs, you will receive a letter explaining how the stimulus payment was applied. [New 4/11/08]

            ================================================== ======
            Here's the link - scroll down about 3/4 of the way to the bottom of the page:

            "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

            Comment

            Working...
            X