US Income Tax Thread: Bank error in your favor! GO DIRECTLY TO JAIL.

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > US Income Tax Thread: Bank error in your favor! GO DIRECTLY TO JAIL.

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Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Coronavirus Economic Impact Payments Update

If you were getting Social Security retirement, survivor or disability benefits (SSDI), Railroad Retirement benefits, Supplemental Security Income (SSI), or were a Veteran Affairs beneficiary, and you didn't file a tax return in the last two years, and you have dependents, you will get screwed out of 500$ per dependent child unless you go to the IRS website and fill in some info.

:siren:

You have until noon tomorrow(4/22) to do this :siren:

. If you don't do it, you won't get the money until 2021. (Some groups get a couple more days)

Full information here:
https://www.irs.gov/newsroom/ssa-rr...e-plus-500-push

Place to enter the information here (read the instructions carefully):
https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here

Generally, every American goon who hasn't already received their trumpbucks should check their status and make sure there's nothing they need to do on this site:

https://www.irs.gov/coronavirus/economic-impact-payments

Remember, all this can be yours!

(Not legal tender. This image is not endorsed by the IRS.)

Discendo Vox fucked around with this message at 22:05 on Apr 21, 2020

# ¿ Apr 21, 2020 21:56

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# ¿ May 13, 2024 17:59

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

I am not certain about that, and regrettably am not involved with the rollout generally, so I don't have any insight on troubleshooting. I just know it's a common problem and I have to assume they're aware of it.

# ¿ Apr 21, 2020 23:26

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Ancillary Character posted:

Welp, because my parents neither owed money or had a refund, they can't use the "Get My Payment" tool to input their banking information because the IRS never coded for the $0 scenario.

Did they file returns in 2018 or 2019? Are they on social security?

# ¿ Apr 23, 2020 07:14

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Ancillary Character posted:

No they filed returns and had a non-zero AGI, just their income is less than the standard deduction, so they owed no income taxes, nor were they owed a refund, due to no income taxes withheld and rental income disqualifying them from the EIC. I can enter $0 for either refund or tax owed and get a "Technical Difficulties" error message.

https://www.reddit.com/r/IRS/comments/g1v8sd/i_owed_zero_in_my_2019_return_irs_said_technical/

That reddit thread suggests my parents are not alone in this situation.

EDIT: I even tried to put in $1 since that's what you're supposed to do for the "Where's My Refund" tool when you're not getting a refund, but that gave an error that it did not match the IRS's records.

I have confirmed that at least some people peripherally associated with the project are aware it is an issue. Sorry, that's all I can do.

# ¿ Apr 24, 2020 19:05

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Nocheez posted:

IF YOU CAN'T GET THE IRS TO FIND YOUR INFORMATION FOR THE CORONAVIRUS STIMULUS, READ THIS

I'm sure I'm not the first to report it in this thread (edit: maybe I am, after reading back a few pages), but I finally got my status to show up (and subsequently enter my bank account information to get my stimulus money). The problem was I was entering my address like "123 Main Dr." just as it appeared on my tax return. When I entered "123 Main" instead it finally went through.

So gently caress this stupid administration and their lovely website for not clarifying this or having the code automatically check for the correct address. At least I should be getting my money finally.

Nocheez, is it okay if I add this info to the pinned post in DnD for people trying to use the site?

# ¿ Apr 26, 2020 03:38

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

dungeon cousin posted:

I've heard some married people have received $1,200 checks for each person while others have received one $2,400 check for the couple. And now I've seen some cases where one person gets the $1,200 check, then later they and their partner get the $2,400 check! What's happening there and how's it gonna be resolved?

If you get a check in error, there's a procedure for sending it back-see the IRS site. Mnuchin has communicated that amounts issued in error will be subject to reclamation.

I gotta emphasize that the basic IRS systems being reworked to do this are well, not exactly flexible. It's remarkable much worse hasn't happened.

Discendo Vox fucked around with this message at 00:16 on May 20, 2020

# ¿ May 19, 2020 23:44

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

If this TRIPS proposal enters law I'm gonna loving walk out.

# ¿ Jun 25, 2020 06:32

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Shame on you all. Shame.

Shame.

# ¿ Jul 15, 2020 00:43

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

FBS posted:

My return got accepted, this is my first year filing a schedule D

how long will it take the IRS to track me down and tell me I screwed it up?

Check your PMs.

# ¿ Jul 15, 2020 06:01

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Speaking unofficially, do check the social security database, but there is also a wide, beautiful spectrum of ways that the IRS's desperately underfunded, ancient, manually populated databases can mangle names.

The good news is I think that at least confirming the problem can be done pretty quickly at a service center, or maybe by phone, once things open up again. This sort of thing happens often.

# ¿ Jul 29, 2020 09:20

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Mr.Radar posted:

Quick update on this, I just got my refund yesterday I didn't do anything, just waited a bit, and it eventually showed up.

# ¿ Jul 31, 2020 18:24

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Ur Getting Fatter posted:

Speaking of mailing stuff to the IRS. If I'm amending two different returns, do I mail them together or separately? Do I staple the pages of each amendment together? Clip them?

I'm probably overthinking this but I figure it doesn't hurt to ask.

Mail them together. Do not attach the two returns to each other. How exactly they will be processed will vary but that's probably the kindest you can do for the people who will process them.

If you are being audited, mail the returns to the person doing the audit, not to the general address for processing amended returns. Otherwise you're adding a month minimum to how long your audit takes.

# ¿ Aug 18, 2020 05:34

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Courtesy of the comic strips thread:

Discendo Vox fucked around with this message at 06:49 on Sep 21, 2020

# ¿ Sep 21, 2020 06:47

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

A basic rule of thumb is to avoid accountancies that promise to do unheard of complex things with your taxes, or who promise to minimize your taxes.

And never ever accept an accountant who wants a slice of your refund. It's illegal without jumping through some specific hoops.

# ¿ Oct 1, 2020 09:00

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

That's an absolutely correct clarification, thanks MadDogMike

# ¿ Oct 3, 2020 05:23

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Slammy posted:

Hitz and Mrs. (September 1923)

Slammy posted:

Hitz and Mrs. (September 1923)

I may have inadvertently done the second one to some people a few times.

Discendo Vox fucked around with this message at 22:39 on Dec 27, 2020

# ¿ Dec 27, 2020 22:13

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Not sure you'd need anything, those are all pretty straightforward.

edit: on second thought disregard that, I have a screwed up perspective on individual tax issues. Someone else will be able to provide better guidance.

Discendo Vox fucked around with this message at 03:37 on Feb 21, 2021

# ¿ Feb 21, 2021 03:21

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Business use of home deductions may be a flag for audit.

# ¿ Mar 19, 2021 22:58

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

NBER paper out from JSRP that heavily reshapes their tax gap assumptions. I'm suspicious of the timing and will not have the chance to dig into the assumptions required for quite awhile.

# ¿ Mar 22, 2021 18:17

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Ur Getting Fatter posted:

I didn't go into data because it's way over my head but the conclusions seem to line up with other reporting in the last few years? Rich people avoid way more tax than poor people, random audits are either bad at catching the avoidance or recovering money is too expensive due to rich people having lawyers, so IRS avoids enforcing.

One of the root problems with a lot of the reporting is IRS emphatically does not run reports by income, they do it by return issues. The normal calculus very explicitly does not line up with the appealing class stories, and a lot of the systemic flagged issues that IRS devotes resources to are multiparty systemic, like EITC fraud, which can involve whole networks of preparers and clients. I'm struggling to parse the estimate basis they're using here, but I just don't know the normal estimate system used in the past to tell how far off base their assumptions about systemic nonreporting are. The timing with the new administration is making me extra suspicious.

# ¿ Mar 27, 2021 02:16

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Hobby income is income, there�s no threshold. The question about hobby vs business income has to do with deducting expenses and losses.

# ¿ May 5, 2021 14:04

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

If you are eligible to file your amended return electronically, do not file a paper amended return. The processing steps and associated delays are much greater.

# ¿ Aug 16, 2021 06:04

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Small White Dragon posted:

Well also, some credit cards do not allow person-to-person payments now, or they don't give rewards for those.

Serious question -- where/how would this be reported? I didn't think you were supposed to include nondeductible personal losses at all on your return.

Under a lot of circumstances, the transfers are just income.

# ¿ Jan 9, 2022 23:54

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Sorry, to clarify, under a lot of circumstances, transfers conducted using these payment platforms are just income. There were plenty of ways to try to obscure transfers under reporting limits there.

The selling at a loss thing is more complicated; this IRS page has links to the relevant publications (mostly pub 544 at a glance), but yeah I think the short version is sale of personal items that you purchased at a net total loss isn't income.

Discendo Vox fucked around with this message at 20:57 on Jan 10, 2022

# ¿ Jan 10, 2022 20:51

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Azuth0667 posted:

Thank gently caress, I was seriously contemplating if I could get away with using a picture of my balls.

Only if a picture of your balls is indistinguishable from a picture of your face.

# ¿ Feb 13, 2022 01:34

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

FTC suing Intuit over the "free" turbotax campaign

quote:

The Federal Trade Commission is taking action against Intuit Inc., the maker of the popular TurboTax tax filing software, by issuing an administrative complaint against the company for deceiving consumers with bogus advertisements pitching �free� tax filing that millions of consumers could not use. In addition, to prevent ongoing harm to consumers rushing to file their taxes, the Commission also filed a federal district court complaint asking a court to order Intuit to halt its deceptive advertising immediately.

Gosh, what a shame.

# ¿ Mar 30, 2022 16:40

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Michael Corleone posted:

Stupid question and I am p sure the answer is no. IF my only 'income' was like 200 in dividends, I don't have to file taxes for that right, since it is under the standard deduction right? Only reason I might want to is to try to carryover some stock losses of like 1k but I am out of the market and don't know if it is even worth my time to try that, thanks!

Nice edit, but cash is income.

# ¿ Apr 11, 2022 13:53

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

mystes posted:

I'm imagining this hypothetical tax system where B gives A a bitcoin and A gives B a bitcoin and then they both magically never owe tax when they sell them

I guarantee this exact scenario was dreamed up by some bitcoiners at some point and they tried it with the IRS.

# ¿ Apr 13, 2022 04:01

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

uncloudy day posted:

As an aside I asked our accountant at my main job about this and he said he would just leave everything�s off his taxes so as to not trigger an audit. Too bad I don�t have a choice because PayPal already filed a 1099-K form with the IRS...

Your main job needs to replace their accountant and perform an internal audit for his time with the company.

# ¿ Apr 15, 2022 22:56

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

What would Biden even do to "go after" the money in such an account?

# ¿ May 21, 2022 02:48

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Small White Dragon posted:

Can't speak to the leanings of these sites (Tax Foundation, Brookings Institute)

Tax Foundation is conservative and generally looks to undermine the government. Brookings is, very broadly speaking, neutral and hard to pin down.

# ¿ Jul 23, 2022 21:27

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Here's the IRS FAQ on 1099K, which includes addenda to address the 2022 changes.

https://www.irs.gov/businesses/understanding-your-form-1099-k
https://www.irs.gov/payments/general-faqs-on-new-payment-card-reporting-requirements

Pub 525 explicitly directs people to report this stuff on Schedule D. IRS is not going to be shocked that people are selling personal possessions and reporting a loss on them; it's not a new phenomenon.

kreeningsons posted:

Seeing as people here are complaining about the new form 1099-K rules as much as I do, I will post the link to the campaign that ebay is running to contact congress about the new rule. it sends a form email to your congressperson telling them you think the rule sucks big time. https://www.ebaymainstreet.com/campaign/2021-federal-1099-campaign

This accomplishes little other than harvesting personal info for ebay.

# ¿ Sep 16, 2022 23:38

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

New thread title suggestion from the fedjobs thread:

Alucard posted:

Look man I get paid in money not in cum.

# ¿ Oct 17, 2022 21:44

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Hadlock posted:

it's more like, wife paypals me $500 for boat expenses, then I go pay the boat mortgage and slip fee, or I paypal her $650 and as soon as that hits her account she pays the daycare $1300 or whatever. in relation to our income it's proportional. I'm sure red klaxon alarms would be ringing at AML HQ if my paycheck was $500 a week for Domino's pizza or something

Yeah, you can see why IRS tightened reporting requirements on this stuff...and why all the companies like paypal have been trying to make it seem horrendous to their users so that they can weaponize them against it.

# ¿ Dec 2, 2022 05:12

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

US Income Tax Thread: freetaxusa.com (not a scam)

# ¿ Mar 13, 2023 23:27

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

trip9 posted:

I went through the amendment process with TurboTax but just printed out the amended stuff and am going to fax it with my CP2000 response. Thanks for all your help.

Good- the crucial thing wiith any corrective/audit notice of this sort from IRS is to send any amendments to the address on the notice. Sending an amended return to the usual amended return address is a killer- it has to be processed before the people handling your case can see it, effectively paralyzing the process until then.

# ¿ May 11, 2023 19:59

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Harveygod posted:

I've got a side business that's grown a bit over the last year. I've had an EIN in my own name (sole proprietor) for a few years so that people can send me 1099s, but now I want to give it an actual name.

The IRS website says that for a sole-proprietorship I just need to "Write to us at the address where you filed your return, informing the IRS of the name change."

It sounds like there's no form and I just simply write a letter along the lines of:

and then mail that to the IRS office in Kansas City, MO.

Can I just start doing business under that name as soon as I mail out the letter? Or do I need to wait for them to acknowledge it? Or will they even acknowledge it at all?

For one thing you can�t use that name, I�m already using it

# ¿ Dec 22, 2023 01:54

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Gabriel Grub posted:

Lol at people who file in loving January, especially tax professionals.

What�s the issue?

# ¿ Feb 1, 2024 05:00

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Got a Notice 54 along with my refund, indicating a difference from my calcs of about $300; I'm going to be very curious to learn what it was.

Also these new notices are great.

# ¿ Feb 23, 2024 05:51

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# ¿ May 13, 2024 17:59

Discendo Vox: Mar 21, 2013; We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

On the brighter side the current admin pushed through a major IRS funding increase and they�ve fought to protect it tooth and nail; IRS also got to begin the long fabled process of setting up free filings, which can eventually undercut and kill off the preparer interests that make everything about the tax system suck.

# ¿ Mar 23, 2024 19:18

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > US Income Tax Thread: Bank error in your favor! GO DIRECTLY TO JAIL.

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