Jump to content
ATX Community

Economic Recovery Payment


OldJack

Recommended Posts

Did taxpayers receive a $400 per person payment during 2009 or do they get it with the 1040? I know about the $250. Is there an IRS website to check?

They "sort of" received the $400. The payroll withholding tables were adjusted with the idea being tax withheld would be about $400 less or $800 for MFJ. But it makes no difference at all as far as how you preparer the return. Regardless of whether their withholding was adjusted or not, whatever it shows on the W-2's for withholding is what was withheld.

Link to comment
Share on other sites

You can definitely find lots of info at IRS.gov. Try the Q&A for your topic for details in plain English. The credit appears on the tax return. The credit was received early by reduced withholding. For common situations, it comes out in the wash. For others, they will be underwithheld. As Tom told you, they did not get a separate payment. You already know about retirees and the $250. You might need an Update Course. Have you examined the new Schedules L and M and their instructions?

Link to comment
Share on other sites

I'm sorry I sounded so flip. I was trying to get at that it's not a long-standing issue, so more likely to be found in an update class. You'd obviously picked up on surrounding issues, like the $250 payment. But, you need to read up on the change in w/h tables and the new schedule/credit, to explain things to your clients who may be seeing smaller refunds if they worked multiple jobs or earn too much to qualify for the credit or... (In my defense, I'm more sleep-deprived than usual. My car was broken into Monday night and my purse stolen. Since then, I've spent over 30 hours on the telephone. The snow storm has delayed deliveries of new glass for my car window, replacement credit cards, prescription drugs, etc., and closed the bank with our safe deposit box with my birth certificate and SS card that I need so I can get a new driver's license. And, we go to a funeral in MA this weekend so I lose a couple more days or sleep and of work/income. So, I'm sure I have little patience left.) You're one of the last people, OldJack, that I would want to be rude to.

Link to comment
Share on other sites

Yes.. it was just a simple question (my only one in years) and as a tax practicing CPA of 30+ years I do update courses every year.

I guess if I ask a dumb question I deserve a dumb answer! Geezz

Thanks to all that replied.

Hey OldJack, how are you doing? Did you know you can read Pub 17 online now? Or even download it? (BEFORE you explode, it's lbb, I'm just joshing you.) See what happens when you ask questions? My first year posting on the old ATX board I asked a question about how to input a partnership return; it was an input question only. One famous poster gave me an indepth answer regarding patnerships being a flow-thru entity and how K-1's work. Unortunatley not one of the several postings giving me a K-1 (Class 101)lesson asnwered the question about how to input the *.X VERY BAD WORD, thing. I still find partnerships in ATX a challenge but can't handle posting the question. It would be great if we would all read the questions and all the answers before we post, but we don't. Including me. My favorit...(remember Roland Suggs?) that guy has forgotten more about tax law than I'll ever know, but he answered a question incorrectly & I caught it. Several lines down the thread he posted EUREKA, and agreed with my post. Sixteen posts after that agreed with his original error. "I think Roland is right.) Take what want, leave the rest. Have a great tax season! lbb

Link to comment
Share on other sites

Well... I'll admit that when I posted the question I was not thinking very clear that day and I was trying to put out a tax return to a client while I was out of town in a hotel concerned for my safety. I don't normally tell things about myself on a message board, but I am protecting my daughter and grandchildren today from a man that is searching for us to kill us all. He just got out of jail from beating my daughter and holding a gun to her head. Yes, he pulled the trigger twice and she didn't know the gun was not loaded. There are a lot of sick people in this world today. Its difficult to think about taxes.

Link to comment
Share on other sites

but I am protecting my daughter and grandchildren today from a man that is searching for us to kill us all. He just got out of jail from beating my daughter and holding a gun to her head. Yes, he pulled the trigger twice and she didn't know the gun was not loaded. There are a lot of sick people in this world today. Its difficult to think about taxes.

Hey Old Jack, stay safe my friend. Family ties run deep & you do what you have to to keep them safe. Always remember if it has to be you or him (criminal) then take him out & worry about the consequences later. You're family is in my prayers!

Eli

Link to comment
Share on other sites

Hey, don't worry about me. My stuff is really just "stuff" and replaceable when I finally get some work done and earn some money. It's annoying and time-consuming, but I'm OK and my car will be when it gets a new window -- glass guy showed up with wrong window yesterday; maybe Monday! -- and I have my car and my keys and they don't have my SSN.

Biz and personal cards came overnight from Amex, but one belonged to Maria in Miami! They had the new one to me by 8 a.m. the very next morning. Amex and my bank have been wonderful. My insurance AMICA has always been wonderful, but the new glass administrator they're using leaves a bit to be desired. I can go anyplace, but the window's been re-ordered so no time savings to change now. MasterCard and VISA and our health insurance/HSA have been a pain.

The time and sleep I'm losing during two critical weeks during tax season can't be replaced, so I'm more sleep-deprived than usual, and crabby. But, last year I had three funerals in February, including one in MA; so only one funeral and a car break-in is actually an improvement. That's my story, and I'm sticking with it.

Let's all send good thoughts OldJack's way, so he can continue getting older and so can his family. As for the bully, not so much, unless it's getting older in prison for a very long time while being on the receiving end of bullying.

Link to comment
Share on other sites

Hey, don't worry about me. My stuff is really just "stuff" and replaceable when I finally get some work done and earn some money.<snip>

RitaL - Somehow I'd missed the post about your car -- I hope it's all back together again very soon, and that all the paperwork mess is cleared up quickly as well.

Catherine

Link to comment
Share on other sites

Thanks, all. Returned from the MA funeral tonight and even napped a bit in the car coming home while hubby drove. Tomorrow after church we go get me a replacement cell as a Valentine's Day present. That doesn't seem quite fair, but money being tight, well.... I'm waiting on PINs for a couple of replacement cards, so I can use them. I seemed to be able to run payroll yesterday out of my new account (for my very part-time assistant) but still need a PIN from EFTPS before I'll be able to do quarterly taxes. The car is still without a window. One of the downsides to a new car, so new that replacement parts aren't around and have to be shipped from the manufacturer with delays due to the snowstorms. I'm going to try for more than three hours of sleep tonight, so that should improve my mood. Happy Valentine's Day to everyone!

Link to comment
Share on other sites

Thanks again to everyone. My family is now in a safe place where no one can find us. I don't have much access to internet here in a condo on a lake. No one seams to be around here in the winter. We understand the man has left the state last night so in a few days we will be back to normal. Again thanks to all for your comments.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...