Lee B

If you have clients who buy their health insurance through one of the Marketplace Exchanges there are a number of changes. The annual enrollment window has been shortened by one month No more automatic re-enrollment - everyone will have to resubmit all of their documentation every year. The Premium Tax Credit repayment cap will expire at the end of this year. The Enhanced Premium Tax Credit also expires at the end of this year. So far Congress has not renewed the large Premium Tax Subsidies paid to Health Insurance Companies to hold down the health insurance premiums of health insurance offered on the Marketplace Exchanges.

The barn door is closed on that horse

https://taxpolicycenter.org/briefing-book/what-are-social-security-trust-funds-and-how-are-they-financed https://sgp.fas.org/crs/misc/RL33028.pdf https://www.congress.gov/crs-product/RL33028

If your client qualifies to amend 2021, then the 2021 Recovery Rebate for his son may also be in play.

The Committee For a Responsible Federal Budget and a number of other analyses that I have read say otherwise. https://www.crfb.org/blogs/obbba-would-accelerate-social-security-medicare-insolvency "However, OBBBA would impact Social Security and Medicare indirectly, mainly by reducing the revenue collected from the income taxation of Social Security benefits, which is deposited into the Social Security and Medicare trust funds.1"

Wow, I had totally forgotten about those

I see what you are saying but I disagree because this deduction will reduce the taxes paid on social security benefits which are dedicated to the Social Security Trust Fund.

Under the OBBB, only 90% of gambling losses will be deductible. I'm sure there are other tax tidbits that will pop up.

Different analyses that I have read say that it reduces the percentage of seniors who will pay taxes on their social security benefits from about 40 % down to about 12 %. The same analyses say that the social security trust surplus will be gone in 7 years (2032) since taxes on social security benefits are dedicated to the trust fund

Garnishment for up to 50 % of their benefits will begin on July 24th for more than One Million Social Security recipients.

Here's the link to their sales department: https://www.id.me/business/industries "Never miss a discount again. Get the ID.me extension. Let the ID.me Shop browser extension find Military, Nurse, Responder, and Teacher discounts for you while you shop."

Seriously for only $50 per month you can use ID.me to verify your clients identity up to 40 clients a month, $1.25 per each additional client

I have been giving this issue a lot of thought. I am definitely opposed to giving all of my personal information to a company that sells their services to police departments. On the other hand ever since the Equifax Data Breach followed several years later by my state Dept of Motor Vehicles Data Breach, more than likely most of my personal data is already floating around the dark web. If they have done away with paper filing Form W 12, then I will have to give in and sign up with ID.me a company that started out selling coupons in competition with Groupon

You can access the SSA and EFTPS with login.gov. I am not aware of any other IRS functions that uses login.gov

Although I have never done it, last year you could renew by mail by filing Form W-12.