Possi Posted March 18, 2021 Report Share Posted March 18, 2021 I'm getting hit with clients who didn't get the full amount of (THIRD) stimulus regarding their children. They will eventually get the full amount, when the IRS catches up. Here is a good article that I am sending my clients: https://www.kiiitv.com/article/news/verify/verify-dependents-third-stimulus-check-money/77-087f2213-3fc1-417c-a60a-eb21210b171e I hope this is helpful. 4 1 Quote Link to comment Share on other sites More sharing options...
Lion EA Posted March 18, 2021 Report Share Posted March 18, 2021 I've been getting that also. However, I have lots of clients over $150,000 and EIP3 has a phaseout range of only $10,000. But I have to stop and calculate and reassure... Thanks for that article. 1 Quote Link to comment Share on other sites More sharing options...
Lee B Posted March 18, 2021 Report Share Posted March 18, 2021 The IRS has released an announcement saying that they are using their discretionary authority to not deduct unpaid taxes etc. from the third round stimulus payments. Quote Link to comment Share on other sites More sharing options...
Possi Posted March 18, 2021 Author Report Share Posted March 18, 2021 3 minutes ago, cbslee said: The IRS has released an announcement saying that they are using their discretionary authority to not deduct unpaid taxes etc. from the third round stimulus payments. So, some back taxes MIGHT be paid with the third round? How practical! Quote Link to comment Share on other sites More sharing options...
TexTaxToo Posted March 19, 2021 Report Share Posted March 19, 2021 I got a note from my bank that said they would make the full amount of EIP3 available for use/withdrawal even if the account is overdrawn. Is that common? Quote Link to comment Share on other sites More sharing options...
Lee B Posted March 19, 2021 Report Share Posted March 19, 2021 8 hours ago, cbslee said: The IRS has released an announcement saying that they are using their discretionary authority to NOT deduct unpaid taxes etc. from the third round stimulus payments. Emphasis added 1 Quote Link to comment Share on other sites More sharing options...
joanmcq Posted March 19, 2021 Report Share Posted March 19, 2021 Thanks for this; just emailed the link to one of my clients. Quote Link to comment Share on other sites More sharing options...
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