Hey all, just an update on my refund due last year. Hopefully this will give people awaiting refunds hope. Filed a 1040-X by mail April 2021, never got an update, even that they received it. Finally today get notice in the mail that they processed it and in another envelope was the actual refund.
I have a client that had a NOL for their S-corp in 2019 and 2020. The business is finally making money in 2021. I looked back at their personal returns for 2019 and 2020 and it doesn't look like they brought that loss into their 1040 from the K-1 (they didn't even realize they were supposed to use the K-1 for their personal taxes) The IRS has record that the loss happened, but it was never accounted for on a 1040. What is the best course of action here? Do the previous returns need to be amended? Or can we start offsetting income with those loses starting in 2021? On another not, where are previous NOLs even shown on the 1040? Any help is greatly appreciated. Thank you
Credit forward from amended 2020, 2021 Michigan 1040
I've become aware of an error that will result in a few hundred dollars of credit in both 2020 and 2021, and so am amending my 2020 and 2021 Michigan returns. I filed these on paper and am filing amended forms on paper. I know... I'm old school! On my 2021 amended form, I selected to credit the new amount to 2022. However, on my 2020, line 35 credit forward, reads "amount of line 34 to be credited to your 2021 estimated tax year." Ideally I'd like the amount credited to my 2022 return. If I simply enter the amount credited forward, will it be credited to my "account" to be credited toward the next tax year (which will be 2022)? Or would I do it sequentially, where I would enter on the amended 2020 mi-1040 to credit the new amount to 2021, and then edit line 30 on the amended 2021 and select credit the now larger amount to 2022? (I hope that makes sense.)
I received two letters from the IRS, one addressed to just me, one addressed to just my husband telling us they made a mistake with our 2020 form 1040 and owe us money. I got a deposit in my account but am I getting the amount listed on each letter or is it just the one deposit? I’ve checked my account transcript and I only see one refund issued. But if that’s the case, why two letters with amounts listed on them instead of the normal one letter addressed to both of us?
I never recieved the 2020 stimulus payments. I did pay 2020 taxes (not a dependent). I already got my 2020 return, but no stimulus. I want to try and fill out a 1040X and claim it, but I do not see where on the form I should do so. What is the process to claim the $1800 from 2020 on an amendment? Or is there an easier way?
Cycle code help !? I didn’t file last year because I didn’t work but I filed a 1040 to claim the CTC. My 2021 refund transcript says n/a but I see the cycle code from 2020 ending in 05. What it be the same code for this year?
Never received $1200 stimulus check, was supposed to receive it as part of refund in 2021, but 1040 for 2020 never went through
Hi there, I used Tax Slayer to file my 2020 taxes and was informed I would receive my $1200 stimulus as part of the refund. My 1040 never filed due to an error on the form, and I missed an email from Tax Slayer telling me this. I never got anything from the IRS asking me to file so I thought I was ok and figured the refund was just delayed. Now upon finding out my 2020 1040 was never filed, I'm realizing I'm still owed the $1200 stimulus. I can't seem to e-file anymore, so I'd have to submit a paper form. Do you think I would still be allowed to claim the stimulus? I have no problem filing the paper form, I'm just not sure if there are any additional steps I should take and I can't get a hold of an IRS rep. Thank you for any help!
EIDL appeal approved by 1st LO December 13th went on to team lead and verified my income January 13 2022 after sending her my 2020 transcripts because my stamped 2019 taxes are still processing after my CPA filed duplicate 1040’s some how . Hoping and praying for an approval .
Looking for a sanity check before I go too far down the rabbit hole of calling CCH. Hopefully I can explain this in a way that makes sense because it's kind of convoluted. So we got a new client who had paper filed their own 2020 1040. When we got their copy of the return we noticed they didn't include on of their dependents and therefore did not receive the child tax credit. We prepared the amended return and tried to e-file it but it didn't work because it was when e-file was shut down. So we waited until it reopened and immediately tried to e-file again, but it got rejected saying that there was no original return so we couldn't file an amended. I called CCH and the person said that you can't amend a return in CCH if you did not file the original through CCH. That's annoying but okay fine what can I do about it. BUT THEN... literally 10 minutes later the client sent an IRS notice that their 2020 return had not been processed. So I was like okay sweet, we don't have to paper file an amended return, we will just e-file an original. But now Axcess is giving us an error saying we can't upload an original return for e-file because we have already exported an amended return. But that amended return was rejected, so as of now we are still at zero for anything actually filed and processed. In my simple mind it should be as simple as unchecking the box to amend the 2020 return in Axcess, re-export it, and move on with our lives. Does anyone else have experience with a similar situation? Does it make sense that we would not be able to export a 2020 original just because we already exported a 2020 amended that never actually got filed? Trying to figure out if I should keep trying to get help from CCH or just paper file it and be done.
IRS is "proposing" that I incorrectly filed $0 for Form 1099-NEC to my 1040 for 2020 is incorrect despite the fact I filed $18,980 based on a form directly from client. But the same client who I worked with said I made $62,038 instead. How does this make sense?
As the post title describes, I've received a letter from the IRS that there are "proposed changes" to my 2020 tax 1040 form. To be frank, they are right, reviewing my company portal that adds up. However, why did I receive a form titled "Combined tax statement for Forms 1098, 1099 for 2020" that says $18,808? Yet there's another $43,000 that I never received a form for? At this company, I worked as a part-time contractor from January to mid-March. Then they increased my hours to 40+ calling it full-time with no taxes deduced. In addition, It says I filed "$0" for nonemployee compensation even though I filed it and paid for $18,808. Which makes no sense. TL;Dr: Why isn't my 2020 showing my full 1099-NEC showing that I made this extra amount? I'm confused. Thank you in advance for your knowledge.
1040 for 2020 lost in the mail, realized in 2022, what do I do?
I paid on time by IRS Direct Pay but there is no record that the IRS received my 1040. Transcript request shows no AGI entry for 2020. I have called many times and the recording says they are overwhelmed and can't take calls.
Probably an incredibly stupid question, but... I'm looking for a 1040 from 2020, but I can't seem to find one anywhere. I've found '18, '19, and '21 on IRS.gov, but 20 seems to be missing, for some reason. The thing is I'm a non-filer (100% disabled veteran), and I have 2 kids under 4, who didn't have SSN's until late last year (due to cost and difficulty, given the fact that we live in Europe). Now that we've finally been able to take care of that, I need to file for '20 and '21 for the stimulus payments, for my children. Any assistance is appreciated
For my 2020 1040, i never recieved my 2nd stimulus and most of my first, and never my third. Can i get any advice on my next step to try to fix this? ( i already claimed the 3rd for 2021) please and thank you.
Can line 3 on the 2020 8812 (form 1040) be a negative number?
I recently received a letter from the IRS stating that I might qualify for a refund for my 2020 tax return. I having a trouble completing form 8812. When look on line 1 my 2020 taxes it has a blank spot on child tax worksheet line 8 and line 2 is 1,400. Line 3 asks that I subtract line 2 from line 1 therefore it would be 0-1400 = -1400. So can line 3 be negative?
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