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This Week’s Special: Recovery Rebate Blinders

BobKamman
Level 13

For tax preparers with an urge to look beyond, behind, over and through the 2020 return they are preparing.

These are guaranteed to prevent you from looking for other taxpayers who may have received an EIP for your client’s 2020 dependent. They remind you that, as a famous jacket once proclaimed, “I REALLY DON’T CARE, DO U?”

They advise you to MYOB when preparing a 2020 return. Your mission, should you choose to accept it, is to figure only the 2020 income, deductions, taxes and credits.

These blinders will self-destruct after this year’s filing season.

1 Reply 1
qbteachmt
Level 15

Don't forget the "whack-a-mole" dependents.

What happened in 2020 based on the 2018 or 2019 tax return is meaningless now.

And those who sent back the check for the dead person, but the dead person is only dead in 2020 = you get the money, after all.

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