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Yes, I saw yours and Eric's shields. Will all the shielded folks be in a group called something like Knights of the Computer Table?

Maybe so. I have been on a personal crusade this past week.

Catherine would probably rather have a gun, anyway.

So now I have to post just to see if I have a shield... Pout; no shield.

They are not linked. All the information needed is on each return ( names, SSNs, etc.). It would be a surprise to see tax due given the exclusion of $11,580,000. None of my clients gift that much!

I don't see a shield but I do consider my two profanity warnings a badge of honor. Oh, and thanks, Eric! It seems I only cuss every 4 years, so look out 2022!

Don't feel too terrible, Catherine. You are in great company, those of us, The Unshielded. We have nothing to hide, probably, maybe.

If you already have a secure access account, you're almost all the way there. For those starting from scratch, there are a lot more steps. And, I think the "app" for ID verification gets downloaded to a smartphone; so if you're setting up on your computer you'll be going back and forth to your phone. I don't know if you save any steps by doing it all on your phone. I didn't hear from any clients who want to opt out. But then, my clients are aging like I am, so not too many eligible child dependents in my clients' families.

The nice thing about free classes, from the IRS or any other provider, is that if it's not what I wanted I just turn it off. Or, leave it on in case it offers something I need while I multi-task, answer emails, whatever. I have plenty of CEs and haven't wasted any money, so I can log out whenever I want. If I know the instructor is good, I keep it on in case I learn at least one new thing. If the instructor is poor, I log out. Or, I log in later to the archive when I can fast forward to find any parts of the agenda that I think could interest me. I won't stay tuned in for 50 minutes if the instructor isn't engaging me!

All this to opt out? I would think it would be necessary if someone was updating info like bank account, address, child added to return, in case any of those changes are fraudulent, but you have to prove who you are to say you don't want the advance? I have a client whom I advised to opt out because income will go way up this year, and she didn't complain of any problems. Are they asking everyone to do this?

Sounds like the son gave the funds to his parents who have owned those investments and their income for the last 15 years, and paid taxes on that income. Yes and parent benefited from capital gains and losses over the years. If the parents continued along that route, they would file a 2020 Form 709 to gift the account to their son. Agree. I don't think the past was handled correctly. But all you can do is report what they did in 2020. Well, and tell the family what should've happened for the last 15 years. Agree, what they did was not necessary. Are these potential new clients for you? Do you suspect they've misreported other things, also? If so, you might want to decline the engagement. New client, I don't think anything was being misreported in prior years, just the handling of the brokerage account. Tell them to contact you BEFORE making any financial moves from now on! Thanks

@Eric, you take such good care of us. No complaints, for Heaven's sake! We you !

ACTC opt out, I'm guessing. A class I took said the IRS (ID.me who does ID verification for the IRS) sends an app in which to upload a DL &/or a pix holding your DL next to your face. It sounds complicated with way too many steps for most of my clients to follow. Those that can follow directions well are too busy &/or too impatient to spend a lot of time. Follow the directions the best you can.

Yes - I second what Possi says! We love you @Eric and really, really, REALLY appreciate everything you do for us!!!

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