M Is for Mistake, But the IRS Has a Cure

This year two brand new schedules appeared on federal tax returns: Schedules L and M. Schedule L is for the Standard Deduction for certain individuals, and hasn’t been a problem for most individuals or preparers. The same can’t be said for Schedule M.

Schedule M is used for the Making Work Pay and Government Retiree Credits. The schedule has caused problems for all. Did the client have a government pension or didn’t they receive a $250 Economic Recovery Payment (ERP)? How much was it? As the NAEA said,

IRS, anticipating some difficulty with completing Schedule M, punted at the beginning of the filing season. The agency advised taxpayers to confirm payments with SSA, VA, or the Railroad Retirement Board. Only IRS would think this helpful…

The folks at the NAEA are beginning to get just as cynical as I am. But I digress….

There is good news, though. According to the NAEA, there is now a toll-free telephone number that can be used to check whether or not a taxpayer received the one-time ERP. You can call (866) 234-2942 to find this out. You will need the taxpayer’s social security number, their date of birth, and their ZIP Code from their last filed tax return. Note: You must check individual taxpayers separately, even if the taxpayers filed joint returns. There will also be an Internet application; however, that application is not yet available

I tried the telephone system for a client, and it is up and running. The whole process of data entering the SSN, ZIP, and DOB took about two and a half minutes.

My thanks to the NAEA

Tags:

Comments are closed.