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Re: Tax changes and IRS info from the stimulus package
Jazzmammal #3043582 05/13/20 06:30 PM
Joined: Aug 2012
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J
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J
Joined: Aug 2012
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Finally got my stimulus this morning so it looks like SS and SSI recipients either have theirs now or it should be imminent.

Bob


Hammond SK1, Kurzweil PC3, Korg Pa3x, Roland FA06, Band in a Box, Real Band, Studio One, too much stuff...
Re: Tax changes and IRS info from the stimulus package
Jazzmammal #3044078 05/16/20 02:23 PM
Joined: Mar 2008
Posts: 3,755
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May 15 came and went. My normal Social Security payment was made. My wife and I did receive the $2,400 a while back. As far as the EIDL goes, the best I can figure from SBA.gov is that I probably filed too late. On the second round of funding, they are only accepting agricultural applicants. As of 08 May, they had disbursed 3,009,934 separate amounts for a total of $9,833,210,000. My application was above 3,300,000,000,000 in number, so my best guess is that many, many, many small businesses applied too late. Oh well, knew going in that it might not result in any money.
On the good side, even though I have been turning down residential service calls, the calls that I've done for my "essential" commercial clients have resulted so far in my business being about as well as last year this time. I am thankful. Gave my wife her half of the $2400, put my half in savings to help later this year when property tax and home insurance come due.

Musically, tomorrow will be the second week that I play with our praise band in our modified online service. I went to the church yesterday and rewired my system to provide a single mono feed to FOH, after listening to playback of last week and noting that my bass was very low in the mix (not in FOH at all) and the organ was inaudible. Felt so good last week to be able to play again (yes, there were less than to people in the building and we did or at least I did maintain distancing). Feeling blessed.


Howard Grand|Hamm SK1-73|Kurz PC2|PC2X|PC3|PC3X|PC361; QSC K10's
HP DAW|Epi Les Paul & LP 5-str bass|iPad mini2
"Now faith is the substance of things hoped for, the evidence of things not seen."
Jim
Re: Tax changes and IRS info from the stimulus package
Jazzmammal #3046355 05/29/20 06:02 AM
Joined: Aug 2012
Posts: 2,134
Likes: 8
J
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J
Joined: Aug 2012
Posts: 2,134
Likes: 8
Glad you got the stimulus and sorry about the EIDL. I have no clue but you're probably correct. What's really bugging me right now is people on SSI are STILL not getting their money but the last I read in a blog is it should be by the end of the month which is only a few more days. My next door neighbor keeps looking at me like I'm Shrek. Can't you call someone for me he asks? He's on both SS and SSI and I guess that somehow that's gumming up the system. I don't know all of his details so maybe there's something else going on but still just being on regular Social Security and he says it's being direct deposited should be enough. I know for a fact he's not making 75K.

Here's something new but not about any special stimulus programs, it's about efiling amended returns. In the tax community this is a very big deal:

IRS announces Form 1040-X electronic filing options coming this summer; major milestone reached for electronic returns

WASHINGTON- The Internal Revenue Service announced today that later this summer taxpayers will for the first time be able to file their Form 1040-X, Amended U.S Individual Income Tax Return, electronically using available tax software products.

Making the 1040-X an electronically filed form has been a goal of the IRS for a number of years. It’s also been an ongoing request from the nation’s tax professional community and has been a continuing recommendation from the Internal Revenue Service Advisory Council (IRSAC) and Electronic Tax Administration Advisory Committee (ETAAC).

Currently, taxpayers must mail a completed Form 1040-X to the IRS for processing. The new electronic option allows the IRS to receive amended returns faster while minimizing errors normally associated with manually completing the form.

“This new process is a major milestone for the IRS, and it follows hard work by people across the agency,” said IRS Commissioner Chuck Rettig. “E-filing has been one of the great success stories of the IRS, and more than 90 percent of taxpayers use it routinely. But the big hurdle that’s been remaining for years is to convert amended returns into this electronic process. Our teams have worked diligently to overcome the unique challenges related to the 1040-X, and we look forward to offering this new service this summer.”


Bob


Hammond SK1, Kurzweil PC3, Korg Pa3x, Roland FA06, Band in a Box, Real Band, Studio One, too much stuff...
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