Wednesday, July 30, 2008

PROBLEMS WITH RECEIVING YOUR STIMULUS CHECK

Hi Larry,
I found your blog thru a google search on "stimulus check problems". After waiting now for a long time the IRS finally has an online tool to check the status.

Surprisingly I had to find out that I was not "eligible" because my SSN or ITN do not match their records. I have a SSN and my wife has an ITN.

The interesting thing is that I filed my TAX return electronically with that same info and had no issues in getting my refund in March.

What am I missing? Have you heard about this issue as well, and is there any possible solution?

Thanks for your help.

Richard

Richard, I am sorry that you are having problems with the IRS and your stimulus check. I think you have two choices. One choice is you can continue to contact the IRS to try to resolve the problem. We understand that the IRS is receiving numerous calls and have reallocated staff to the stimulus questions. Although I have not personally been involved with any contact with the IRS regarding stimulus questions, I am sure this would be a long frustrating process.

The other choice that you have is to simply wait until you file your 2008 return and increase your refund or decrease the amount of tax due when you file the 2008 return. As you may know, the stimulus refund is really a reduction of your 2008 tax, not a reduction of your 2007 tax. They are just doing this early to supposedly heat up the economy. I am not sure if it worked, but that was the thought.

On many returns that were extended, they will not receive the stimulus refund until they file the 2008 return.

If it were me, rather than hassle with the IRS, I would probably just wait until you file your 2008 return and make sure your tax preparer understands that you did not receive your stimulus check and reports it correctly on your 2008 return.

Sorry I could not be of more help. If you have any questions, please contact me.

Larry Kopsa CPA

Hi Larry,
Yea your feedback helps. I think I stimulate the economy then next year :) even though I had planned with the money this year.

It just shows the state the IRS is in.

Thanks again!

Richard