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Showing content with the highest reputation on 07/22/2021 in all areas
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She can't "opt out" because when she went to the web site, she "doesn't qualify for child tax credit." I'm not even making this up.2 points
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And so it begins. Client called and wondered why she got $500 deposited to her account for "CTC." Filing status is single. She has no children. We will never be able to un-screw this lightbulb.1 point
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Vegas to Reno is quite a ways. Over 400 miles. I will wave to you when you get here, but the mountains may obstruct your view. ;0) Enjoy sin city. I will be there in Sept for the NATP tax seminar. It is one of the few live seminars going this year. Tom Sparks, NV1 point
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I know, it's more so she won't spend the money...1 point
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Yeah, my bank is paying 00.01 %1 point
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My guess is that it'll be reconciled on her 2021 income tax return in 2022, a lot like the RRC worksheet but NOT keeping the excess. Tell her to opt out. Or buy a nine-month CD to hold the funds until next spring.1 point
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Perhaps you should let her know about how to "opt out."1 point
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I told her to keep the money, but to expect to pay it back.... in 2025 when they catch on. LOL1 point
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One interesting possibility might be to conjecture whether IRS will "forgive" excessive CTC payments which were not justified.1 point
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Very interesting, since several commentators specifically refer to the City of Chicago of having a history doing this exact thing. Well, they won't issue a corrected W 2, so you will have to be creative1 point
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Weird, did he receive one W 2 with this information or did he receive an additional W 2 with this information? Was social security and medicare withheld? An quick online search didn't find this memoramdum. Other online commentators say that a corrected W 2 needs to be issued and that the employer is just being lazy.1 point
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It is close. I have a sadistic daydream that Bill Gates is in purgatory and he needs to remember every single password he ever created to get out, and his version of microsoft operating system crashes every time when he gets about 95% through the list. Control + Alt + Delete and start over dude! I know I should not wish this on anybody, but I can't help it. Tom Sparks, NV1 point
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Intuit is the one company I hate more than micro$oft.1 point
