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Tax Prep by Deb

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  1. Looks to me like they applied the ctc for the child under 17 (2000.00) first to the taxes owed, then the balance owed to the dependent over 17 (120.00) leaving the tax at zero and no refundable credit.
  2. Thanks Tom, I just had a client get more money and I thought it was a mistake, but your explanation explains the whole thing. Thanks!
  3. My client went ahead and paid what was owed, then about two weeks latter she received a check for exactly what we were expecting as well as for what she had paid. I was able to reconcile it to the penny!
  4. I also have a client in the same situation. For now all I could tell her was to go ahead and pay the small amount owed and hope IRS takes the payment into consideration when refunding. My fear is it will take them way to long to straighten this out that she will keep getting letters and finally IRS helps themselves to her money. All I can say is what a mess!
  5. As to not getting the second payment, many were sent debit cards and mistook them for junk mail and discarded them. It's possible this is the case with your clients, so perhaps starting a trace is the way to go. Just a thought.
  6. But the modified AGI for ACA reconciliation is causing a reject as of last night. Hopefully this gets corrected soon!
  7. But I ran into a problem with the modified AGI for the ACA reconcilliation. A return rejected because of a mismatch. Hopefully this gets fixed soon!
  8. California seems corrected as of this afternoon.
  9. Drake has now corrected the problem with California and it is flowing correctly now.
  10. Yes Drake has updated their software but only for the Federal. I have an issue where here in California Unemployment is not taxed therefore an adjustment is made, now with the adjusted federal AGI it's as if though California is being adjusted again for the 10,200. As was stated earlier you are going to have to watch your state returns very carefully.
  11. Thanks for the headsup. California doesn't tax any unemployment but I will double check to make sure it doesn't adjust it out again.
  12. All of mine have gone thru. It's a little slower than normal, but all are processing.
  13. I have also struggled with this form. With Drake they have a way to input each household member the same way the Federal did when the penalty was charged. Even so you have to go thru all the hoops and end the end the client's I have that was affected by it, had low enough income it wasn't assessed. I still had to go thru the motions. Not really liking California this year!
  14. I received my first batch of federal accepted e-files yesterday evening and a few more came in this morning. Looks like they opened up early, at least for Drake! I love Drake!
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