IRS Update

| August 16, 2020

This is a news update. This is only an update. There is the possibility that it may become a bit of political slang for the more rancorous among us to play with. Read on, below.

The IRS has updated and reopened its “get my payment” site so that you can go into that section and update your information or post it if you didn’t have a chance to do it before. If they want your most recent tax return with the adjusted gross income and you try to enter the 2019 version, they have not processed those returns yet due to the load of other stuff they’ve been asked to do. Those tax returns are sitting unopened in boxes, waiting to be reviewed.

If you start getting dunning letters from the IRS, keep them. Don’t respond or make angry phone calls, just keep them.

They are sent out automatically even when a tax return hasn’t been processed by the IRS. That is ordinarily due to late submissions, but in this case, the output of stimulus checks in April put a slamming halt to any and all 2019 tax return processing, period. That is what is generating those dunning letters. It is NOT a failure on your part.

Meantime, your 2018 tax return was processed in 2019 and your refund or tax payment was also processed. So find your 2018 tax return and use that information.

When you go to update or start up the request for direct deposit, make sure that you double-check what you posted. Proofread four times by confirming each number and letter each time, long before you click “Submit”.

If it’s incorrect, the IRS will immediately say so with “does not match our information”.  This is why I said have your 2018 tax return on hand, and your bank account (checkbook, silly) info as well. If you have a concern about your personal information showing up, which is valid, chill out. The numbers and letters are masked once it is confirmed. The IRS’s computer’s response is only going against what it already has in its database. No one is looking at your stuff.

I think my concern has been that the stimulus checks might be considered taxable income, but the most recent response to that is that it is non-taxable (so far).  It has something to do with tax credit, or at least that was the latest stated intention. We’ll see about that.  Don’t take “nontaxable” for granted.  But we can all use another $1200, right? Oh, wait – Nancy wants it to be more and she and dTrump are quibbling over dollars and sense. (I’m taking literary license here, y’know.)

https://mynews4.com/on-your-side/ask-joe/ask-joe-can-i-still-update-my-account-information-for-stimulus-check

Direct deposit is safer and faster than waiting for a check, or as we are now told, a prepaid debit card. Since there will very likely be an increase in the number of people who will be eligible for those “stimulus” payments, especially as regards those with dependents, it’s best to do it the smarter way. It is also quicker.

In addition, if you’ve changed your bank account number, as in moving your account to a different bank after the last time this dispensation was dispensed, you will not be able to change it, which means that you’ll get the debit card instead. That seems to be a safeguard issue, especially since there is so much fraud going on in the unemployment compensation area in some states. If you normally get a refund, your bank deposit info should be on your tax return for 2018. As I said, the 2019 tax returns are sitting in boxes, waiting to be processed.

I’ve said this before.  Don’t take anything for granted. We live in perilous times right now.  There is a suggestion in another blog that the military wants to take over and run things. Okay, I know there are many senior military in the Pentagon in Foggy Bottom, but they’re desk jockeys who Jonesed and jockeyed for those jobs a long time ago. The AD people are out in the field at bases, on ships, deployed to foreign parts, and most of them have enough sense to question what might seem to be illegal orders. Hitler controlled the media. Our current crop of media twits can’t even control their own bowel movements, never mind losing important people in their audience who are slowly becoming disillusioned. Remember what I said about former greenbeaners swapping attitudes when they discovered – GASP!!! – they’d been lied to all along?

On a final note, you’re going to love this: Should Biden win, Ms. Harris wants to give everyone in the USA, working or unemployed or whatever, a monthly check for $2,000 for up to the three months after the CV19 pandemic ends.

That’s nice of her, isn’t it?  Does she have insider info on when the pandemic is going to end? And where is this money going to come from?

Unfortunately, someone has said the virus will come around twice more before it fades and/or an effective vaccine is developed.

I’ve lost the connection to that article, but the projection is very possible. The Spanish flu had two nasty go-rounds in the 1918 pandemic in the USA, and then it petered out to nothing. But that bunch of flu bugs changes every season, which makes not getting your annual flu shot just not smart. Unfortunately, the VA’s facilities are now requiring appointments for such things as flu shots. There are no more walk-ins.

So if the CV19 bug comes around twice more, that means it doesn’t just pack up and mosey out of town. It’s aggressive, repetitive and ferocious, and this CA/AG wants to give you money until it ends?

Gee whiz, I just don’t know what to say other than does she really have a clue about how this whole thing will proceed, and how long it will take to come to an end? And does she have any idea where this cash load is going to come from?

Okay, whatever. But what the frak: if she’s truly that unable to understand real budgeting and the current financial conditions in the real world, she’ll be sending this country right down the merry, daisy-strewn path to bankruptcy.** The US Government can only borrow coin/cash from the Fed for so long before the ball drops and goes BOOM!!!!  (**Yes, I know, she has to get approval, but it’s a Demo overload in Congress right now, isn’t it?) On the other hand, if the prediction of a deeper recession comes to pass, whoever is in the White House will get blamed for it.

I wonder how things will be when someone lets slip the dogs of civil war…. Oh, wait – that’s what the Antifatwarthogs are doing, isn’t it? Or trying to do…. or something.

You all know about that Klingon curse “May you live in interesting times”, right?

Category: "Your Tax Dollars At Work"

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Frank

Ask Hunter “I’m broke and jobless” Biden for a loan.
He found $450,000 to pay a tax lien in 6 days…

rgr769

He likely just searched under the couch cushions. That amount is chump change for the Biden family of grifters.

5th/77th FA

When they finally run out of other peoples’ money to give away, you won’t need any money, because there will be nothing to buy.

Line up here, Citizen, for your free housing, free food, free phone, and the work that will make you free.

Damn shame that the Country that did so much to save the world from Tyranny is being destroyed by people who have never lifted a finger to defend that same Country.

Not sure if they have looked at my ’19 tax return yet, but they damn sure cashed the check I sent them, 3 days after I put it in the mail. And, no, I didn’t wait till the July or whatever new date they had for this year. It was sent in back in mid March sometime.

Tax free income? No such thing for a person that works. You are going to pay a tax on any income at one point in time or another, even if it is just a sales tax when you buy something. Another thing I’ve never been able to wrap my head around is all of the people that have made 0 taxable income in the past year get an “unearned income tax refund” amount subject to the number of parasites you have brought into the workd.

HMCS(FMF) ret

I wonder what Lars did with his COVID stimulus?

Anonymous

Assumptions…

David

If dispensations are happening, it is only a matter of time until simony comes back too. Oh wait, that’s how many Dems get into their jobs anyway. My bad.

26Limabeans

I have two jumbo CD’s maturing in SEP and OCT.
Current best option is straight savings at 0.5 percent.
Mattress sales are skyrocketing.

Anonymous

Hell, gold, cigarettes, ammo, canned goods…

The Dead Man

So the 2019 returns actually are being processed, they’re just wildly behind. It’s why if you’re faxing or mailing in your SS-4’s for an EIN it’s now a 45 day or 90 day wait respectively rather than 4 business day and 30 business day wait. If you’ve got questions, bite the bullet and call in and make sure you’re going for personal returns so you don’t get stuck in the wrong queue.

As for the disease making two rotations. Considering some of the mutation strains were already becoming even less lethal than it already is, I’m guessing it’s going to follow the other existing corona viruses and get lumped in with the ‘common cold’.

I’m sure as hell not going to do it on my day off, but if there’s an IRS related question I can try and hunt it down barring some details.

OWB

Don’t know what is going on at the IRS, but yesterday I got a third check from them this year. This one with interest.

I dunno, but I will be depositing this one into a savings account. Makes no sense to me since my records indicate that they owe me no $$. Can only suppose that some day someone will figure that out and want it back.

Don’t have a good track record in that regard. It took a few years before somebody figured out that we weren’t eligible for some sort of tax credit and therefore did not take it. They sent us $200 anyway, without asking for it. We took the check to the IRS, explaining that we weren’t due the money. They took the check and about 6 months later a second check was issued, which we also returned. When about a year later, a third check for $200 was issued, we just cashed it. Sure enough, about a year later, we got a request for the $200 back. Which we gave them, along with a list of the dates of the previous transactions.

The total for what they have sent me this year is considerably more than $200. Just going to let it sit there drawing interest until the dust settles. I guess it’s better to have them sending me $$ instead of asking for it.

26Limabeans

Back in the seventies the house I was renting burned to the ground.
I was left with the clothes on my back and my dog.
No Red Cross putting me up in a hotel, I camped on a friends land.

So I did a “net operating loss carry back” with the IRS, reclaiming
all taxes paid in the previous three years. An individual could do
that back then. It is only for businesses now.
I promptly recieved a check in the mail and used it to purchase a piece
of land upon which I started to build a house. A few months later an
IRS agent shows up looking for proof and all I have is a newspaper
article to show him. He wants to see more than that and tells me to
come in to his office tommorow with whatever I can find.
I show up the next morning with a soot blackened file cabinet drawer
and set it down on the guys desk. The folders are all singed and the
papers inside stink. I show the guy a few personal papers with flakes
of carbon dropping on his desk. He stopped me after a few minutes
and said I had sufficient proof of my claim.

The process worked. I was thrilled and that money was a lifesaver.

Ret_25X

yeah…we never took the payment site down…idk where this story comes from.

Nor can the IRS state anything officially about whether the CARES Act payments will be taxable. It would not be up to the IRS to make such decisions.

The CARES Act does not directly address it and there will likely be language in the 2nd bill defining that. If a second bill is ever passed. No one I work with thinks they will be taxable and it may be that the SECTREAS can make an administrative decision wrt that. But…I’m not a tax lawyer, I just try to make their apps work…LOL.

As for tax return processing–electronic filings have been in process all along, but the prolonged filing season has also meant that many people only recently filed.

The centers that do the paper returns reopened in July–and it should shock no one that returning the work force has had some challenges with kids being out of school and mandated cleanings changing work hours, to say nothing of seating arrangements and partitions being installed. No idea where all that is, but recalling the work force is an indication that someone thinks they are ready to go back to work.

Bottom line: do not believe reporting on the IRS unless you can verify it yourself. Go the IRS.gov website where official information is posted.

Jarhead

Ex..great story, especially since I love reading about anything Lois Learner ever was involved in. But I must tell you, were I the Cat Police I’d arrest that cat for BWI. With the virus issues at hand, Bathing While Intoxicated is a serious matter. In the future may I suggest rather than a Pinot Noir a pint of Mad Dog 20/20. BTW, don’t think we did not see that grass in the tub with Kitty.

Jarhead

Best you worry when Smokey starts slurring his meows. They start out with an appreciation for catnip and then move up to the hard stuff. Only problem we have with ours is religion. They expect us to worship them. Only a cat lover would know this…feed them something they don’t want, and watch the look on their face that says, “WHO THE H__L do you think you are dealing with? Get yourself back in the house and bring us what we want to eat. You know we do NOT like changes of any kind!”

Anonymous

Ah, the IRS… initials that rank right up there with SS, KGB, etc.

rgr769

Now you need to add the FBI to that list.