Janitor Bob Posted February 13, 2008 Report Share Posted February 13, 2008 From what I am readng.....ALL people will need to file 2007 tax returns in order to be eligible for the rebate check. This means that seniors who would not normally need to file will need to do so this year. Quote Link to comment Share on other sites More sharing options...
Karen Lee Posted February 13, 2008 Report Share Posted February 13, 2008 Qualifying income includes Social Security benefits, certain Railroad Retirement benefits, certain veterans’ benefits and earned income, such as income from wages, salaries, tips and self-employment. While these people may not be normally required to file a tax return because they do not meet the filing requirement, the IRS emphasizes they must file a 2007 return in order to receive a payment. I guess we will be making some extra money this season. Karen Lee Quote Link to comment Share on other sites More sharing options...
JohnH Posted February 13, 2008 Report Share Posted February 13, 2008 I'm wondering whether it will be worth the time & trouble to prepare a return for a one-time client with virtually no prospect for a long-term relationship, when weighed against what we can reasonably charge for this service. I'm hoping VITA, TCE, and other organizations will gear up for this. If I can find a local contact I think I'll refer anyone who calls me to their services, unless they insist on paying the going rate. This is just off the top of my head, and I'd be intersted in hearing pros or cons from others on this forum. Quote Link to comment Share on other sites More sharing options...
Ray in Ohio Posted February 13, 2008 Report Share Posted February 13, 2008 http://money.cnn.com/2008/02/13/pf/taxes/r...sion=2008021316 Quote Link to comment Share on other sites More sharing options...
MN2V Posted February 13, 2008 Report Share Posted February 13, 2008 So what will your going rate be to file for the little ole lady down the street? She will be getting a $300 gift...I do volunteer work also, but not when they get something for nothing.... Quote Link to comment Share on other sites More sharing options...
NECPA in NEBRASKA Posted February 13, 2008 Report Share Posted February 13, 2008 I'm giving out the 800 # for VITA to people that call me, because I'm not going to prepare returns for free or really cheap. I need to take care of my current clients, before I would take anything else on. I told my last customer to use free file for his mother-in law because she wastes an hour of my time every time I have to talk to her. That may sound mean, but my husband and mother are both ill and it takes everything that I have to keep this business going too. Quote Link to comment Share on other sites More sharing options...
lsowers Posted February 13, 2008 Report Share Posted February 13, 2008 I see that the IRS says people getting SSI are excluded. Does anyone know about the ones that get SSDI (disability)? Quote Link to comment Share on other sites More sharing options...
lsowers Posted February 13, 2008 Report Share Posted February 13, 2008 Here's a thought...if someone made $2800 last year, they could put $300 on Sch C, bringing their earned income to $3100 while still not paying income tax. Then they would qualify for the $300 check. Is the IRS going to do anything about the people that may do that? Boy I have too much time on my hands (yea right) Quote Link to comment Share on other sites More sharing options...
ajuroff Posted February 13, 2008 Report Share Posted February 13, 2008 I've prepared returns for seniors who only file the Michigan credit forms. So a "state only" efile. Does this mean I need to go back and send a "Federal only" efile for each one of them? If this is true, you can't efile a Federal return with an AGI of zero. So either add a buck (made $1 in scrap metal sales or whatever) or print each one of these off and have them mail in. I only charge these seniors for the MI credit forms. Do I tell them, "if you want the $300, you need to pay me for the Federal return now?" What to do..... Quote Link to comment Share on other sites More sharing options...
Donny Posted February 13, 2008 Report Share Posted February 13, 2008 Qualifying income includes Social Security benefits, certain Railroad Retirement benefits, certain veterans’ benefits and earned income, such as income from wages, salaries, tips and self-employment. While these people may not be normally required to file a tax return because they do not meet the filing requirement, the IRS emphasizes they must file a 2007 return in order to receive a payment. I guess we will be making some extra money this season. Karen Lee I have a big question on this, when we use bank products we use street address with irs, but client receives mail at P>O> Box how is this going to work. if they send to street address I will have quite a few clients that are not going to receive it. Guess come May I will not answer phone and I will take a vacation, doesn't matter that I had to use street address because of bankg laws. Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted February 14, 2008 Report Share Posted February 14, 2008 I think they will not have to file a return if they are elderly or disabled vets. I read that the IRS will get the information for seniors from SSA and the disabled vets from the VA. I think the only people we have to file a return for are those who make less than the minimum filing requirements and at least 3,000. That will kick their return into the system and get them the $300 in the summer. Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
NECPA in NEBRASKA Posted February 14, 2008 Report Share Posted February 14, 2008 Tom, The IRS released notes this afternoon explaining that they will have to file returns. The IRS will not be getting the information from SS or the VA. They will have to show at least $3,000 of qualified income on the return, which includes SS and RR retirement. I left the E-mail that I recieved from our state liason and don't remember what else was included. It did not include portfolio income. If you go to IRS.gov, I'm sure that they have the info out there. I know that I'm not going to file a bunch of these returns. VITA will be busy. Quote Link to comment Share on other sites More sharing options...
JohnH Posted February 14, 2008 Report Share Posted February 14, 2008 Has anybody posted this? If so, I apologize for the repetition. http://www.irs.ustreas.gov/newsroom/articl...=179095,00.html Quote Link to comment Share on other sites More sharing options...
Cathy Posted February 14, 2008 Report Share Posted February 14, 2008 Has anybody posted this? If so, I apologize for the repetition. http://www.irs.ustreas.gov/newsroom/articl...=179095,00.html No apology necessary, John. Thanks for posting the article! Cathy Quote Link to comment Share on other sites More sharing options...
Donny Posted February 14, 2008 Report Share Posted February 14, 2008 No apology necessary, John. Thanks for posting the article! Cathy in regard to my post about the street adress do anyone think I need to inform my clients now to file the change of adress so they will receive their money? Quote Link to comment Share on other sites More sharing options...
LindaB Posted February 14, 2008 Report Share Posted February 14, 2008 Has anybody posted this? If so, I apologize for the repetition. http://www.irs.ustreas.gov/newsroom/articl...=179095,00.html Here is another article, "stimulus Payments: Instructions for Low-Income Workers and Recipients of Social Security and Certain Veterans' Benefits" http://www.irs.gov/irs/article/0,,id=179096,00.html Quote Link to comment Share on other sites More sharing options...
LindaB Posted February 14, 2008 Report Share Posted February 14, 2008 I saw an article that H&R Block has said they would charge $35 for a return, when the person is not required to file except to get this rebate. Quote Link to comment Share on other sites More sharing options...
Donny Posted February 14, 2008 Report Share Posted February 14, 2008 I saw an article that H&R Block has said they would charge $35 for a return, when the person is not required to file except to get this rebate. I called IRS and she stated that change of adrees would have to filed if street adress is not mailing adress. she laughed, guess she doesn't realize that small town people don't always get their mail at street adress and I am one, I didn't think this question was all that funny. Quote Link to comment Share on other sites More sharing options...
ajuroff Posted February 14, 2008 Report Share Posted February 14, 2008 I see that the IRS says people getting SSI are excluded. Does anyone know about the ones that get SSDI (disability)? I'm curious about this also. I have a few of these returns. Quote Link to comment Share on other sites More sharing options...
Kea Posted February 14, 2008 Report Share Posted February 14, 2008 in regard to my post about the street adress do anyone think I need to inform my clients now to file the change of adress so they will receive their money? You really should file the change of address. I had this situation when the last "rebates" were mailed out. Client had told me that he had always filed with the PO box. I changed it to the street address just when the IRS needed the real place to mail the check. We filed the change of address so he could get the check. It worked. Quote Link to comment Share on other sites More sharing options...
MontanaEA Posted February 14, 2008 Report Share Posted February 14, 2008 This is nuts! In this small town, 80% of my clients (including me) receive their mail in a PO Box at the post office. If I changed my address to the physical location, USPS will not deliver it. What's the deal? Quote Link to comment Share on other sites More sharing options...
Janitor Bob Posted February 14, 2008 Author Report Share Posted February 14, 2008 This is nuts! In this small town, 80% of my clients (including me) receive their mail in a PO Box at the post office. If I changed my address to the physical location, USPS will not deliver it. What's the deal? "Nuts" is when Crazy Pam from across the street comes over at 11:30pm and tells you that she cannot sleep cause her dog keeps wanting to go outside.......and she does not have a dog Quote Link to comment Share on other sites More sharing options...
Elrod Posted February 14, 2008 Report Share Posted February 14, 2008 Then we gotta deal with all of this next year on 2008 tax returns. And not everyone will keep the papers they got with their checks. @%-&^#... I'm Hungry... Quote Link to comment Share on other sites More sharing options...
Kea Posted February 14, 2008 Report Share Posted February 14, 2008 Sorry, I didn't state my message clearly. I had to change the address back to the PO Box for the IRS to deliver. Like you all have said, the post office can't deliver to a street address if there is no mailbox there. Quote Link to comment Share on other sites More sharing options...
TaxmannEA Posted February 14, 2008 Report Share Posted February 14, 2008 We have a number of these small towns around here. What I do is enter the address with both the street and box address. ( ex.: 120 W Main St PO Box 420) This seems to make everyone happy. Quote Link to comment Share on other sites More sharing options...
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