ONLY.
ONLY. THIS IS NOT A CALL IN. YOU CAN ONLY TEXT YOUR
QUESTIONS.
ALL RIGHT.
I'M GOING TO ASK YOUR RIGHT OFF
THE BAT, MARK, BECAUSE THIS IS
WHAT EVERYBODY IS ASKING OVER
AND OVER AGAIN.
WHAT ABOUT THE SECOND ROUND OF
STIMULUS?
>> THIS IS THE TOP NEWS STORY
OF THE DAY.
ACTUALLY, LET ME GIVE YOU BOTH
SIDES OF THE SITUATION.
THE WHITE HOUSE HAS COME OUT
AND SAID WE ARE IN FAVOR OF
ANOTHER ROUND OF STIMULUS.
THEY'RE EVEN ADVOCATING FOR A
BIGGER PAY OUT.
BUT THE HOUSE OF
REPRESENTATIVES PASSED A SECOND
STIMULUS AND SENT IT OVER TO
THE SENATE LAST MONTH.
IT WAS CALLING FOR THE EXACT
SAME THING IN STIMULUS PAYOUTS
.
BUT SENATE MAJORITY LEADER
MITCH MCCONNELL HAS SAID THE
SENATE WILL NOT TAKE ANY ACTION
UNTIL SOMETIME PROBABLY AROUND
JULY THE 20TH.
HE WAS QUOTED YESTERDAY AS
SAYING ANY FURTHER EFFORTS
SHOULD FOCUS AROUND INTENTLY ON
THREE THINGS KIDS JOBS AND
HEALTH CARE.
SO THIS IS A DEVELOPING STORY.
>> BUT IT DOES APPEAR AS IF THE
CONVERSATIONS ARE GOING IN THE
RIGHT DIRECTION TO GET SOME
KIND OF SECOND ROUND OF
STIMULUS PAYMENT.
I'VE GOT MY FINGERS CROSSED.
IT DOES SEEM THAT THERE IS A
GREAT PUSH FOR THIS THAT IT
WOULD STIMULATE THE ECONOMY.
THAT WOULD BE THE RIGHT THING
TO DO.
I'M CERTAINLY HOPEFUL AND THAT
THOUGH WE PROBABLY ALL ARE OK.
>> SO THE STIMULUS IS THE FIRST
ASK QUESTION THE SECOND ASK
QUESTION IS THIS IS FOR YOU,
KEVIN.
I HAVE FILED MY TAXES A COUPLE
OF MONTHS AGO BUT STILL HAVE
NOT RECEIVED A REFUND.
SHOULD I BE CONCERNED?
I'M TELLING YOU I'M GETTING
FACEBOOK MESSAGES AND EMAILS
ABOUT THIS.
>> ABSOLUTELY.
>> I WOULD DEFINITELY BE
CONCERNED.
CAN YOU LET ME JUST SHARE
SOMETHING THAT I'VE ACTUALLY
HELPED A CLIENT WITH THIS WEEK?
AND WHEN YOU BASICALLY
EXHAUSTED YOUR RESOURCE CALLED
EVERY NUMBER THE IRS HAS YOU'VE
GONE TO IRS DOG WORK.
MY REFUND AND ALL IT SAYS IS
PROCESSING.
I WOULD GO UP THE FOOD CHAIN
AND DOWNLOAD THE FORM 9 1 1
WHICH IS BASICALLY A REQUEST
FOR TAXPAYER ADVOCATE SERVICE
ASSISTANCE.
GET THE FORM FILLED OUT IN SIN
AND FAX IT INTO THE NUMBER THAT
TIES TO THE ADVOCATE OFFICE IN
THE STATE OF NORTH CAROLINA.
THERE ARE TWO ONE IN CHARLOTTE
AND ONE IN GREENSBORO.
AND BELIEVE IT OR NOT THEY WILL
GET BACK WITH YOU IN A COUPLE
OF DAYS AND I WOULD PROBABLY
SAY ALSO HAVE THE PERSON HAVE
THEIR TAX ACCOUNTANT FILL OUT A
28 48 FORM POWER OF ATTORNEY SO
THEY CAN ALSO REPRESENT THEIR
CLIENT WITH A 9 1 FORM AND YES,
IT DOES EXIST.
WE'LL GO UP THE FOOD CHAIN AND
MAYBE HELP GET THINGS ROLLING.
A LOT OF PEOPLE ARE SUFFERING
AND NEEDING EVERY TYPE OF NINE
1 1 4 1 THAT HE IS TALKING
ABOUT IS ONE THAT YOU DON'T
HAVE TO HAVE A TAX PREPARER TO
HELP YOU WITH.
>> YOU CAN DO THAT ALL ON YOUR
OWN.
IT IS IN THE TWO WANTS TO KNOW
SECTION RIGHT NOW.
THERE IS A WEB STORY UP THAT'S
CALLED STIMULUS AND TAXES AND
IT'S ALL ABOUT WHAT WE'RE DOING
RIGHT NOW.
IT'S RIGHT THERE FOR YOU.
ALL YOU HAVE TO DO IS CLICK ON
THAT.
ASIDE FROM THAT THOUGH, THERE
ARE JUST MILLIONS OF TAX
RETURNS JUST WAITING.
>> EVIDENTLY, YES.
AND I THINK THAT THIS SHUT DOWN
OF COURSE A LOT OF PEOPLE HAVE
FILED ONLINE.
AND THEN SOME PEOPLE FILE BY
PAPER FOR WHATEVER REASON AND I
THINK MARK COMIG LAST WEEK
THERE WAS SEVERAL MILLION
PIECES OF MAIL THAT THE IRS IS
TRYING TO CATCH ON ITS FACE
LIKE THEY FILED A PAPER RETURN.
IT COULD TAKE A LONG TIME
GETTING THAT REFUND.
>> SO SOMEONE ELSE IS ASKING.
I'VE FILED MY TAXES A COUPLE OF
MONTHS AGO OR I FOUND MY TAXES
IN 2018 BUT I STILL HAVEN'T
GOTTEN MY STIMULUS CHECK.
DO YOU KNOW HOW LONG IT'S GOING
TO TAKE TO GET IT?
AND SO MARK, I THINK THAT'S A
QUESTION FOR YOU.
SO ALWAYS GO FIRST OF ALL TO
IRS, NOT GO.
WHEN YOU GO TO THAT WEB SITE ON
THE TOP RIGHT CORNER IT SAYS
GET MY PAYMENT, CLICK ON THAT.
ENTER THE INFORMATION THAT'S
REQUESTED.
THAT'S HOW YOU TRACK WHEN YOUR
PAYMENT IS GOING OUT.
IF IT SAYS IT'S ALREADY BEEN
DEPLOYED AND IT'S BEEN SEVERAL
WEEKS PAST THAT DATE, THEN YOU
WANT TO GO TO IDENTITY THEFT,
GO AND REPORT THAT YOU FEEL
LIKE THAT PAYMENT HAS BEEN
TAKEN.
BUT AGAIN IRS STUFF BUT IT'S
THE BEST WAY TO TRACK YOUR
STIMULUS PAYMENT AND WHEN YOU
SHOULD GET IT.
KEEP IN MIND THERE'S A LOT OF
UNOPENED MAIL AT THE IRS SO
THAT COULD SLOW DOWN YOUR
PAYMENT.
>> YES.
SO IF YOU FILED IN 20 19 OR
SOMETHING OF THAT NATURE THEY
MAY NOT HAVE PROCESSED THAT IN
TIME FOR THE STIMULUS.
IN FACT, MARK, THIS PERSON
SAYING OK, IF I IF I NEED TO
FILE A TAX EXTENSION THIS YEAR,
WILL I STILL BE ELIGIBLE FOR A
STIMULUS PAYMENT?
THEY DON'T HAVE ANYTHING TO DO
ONE WITH THE OTHER.
KEVIN, CAN YOU START THIS ONE?
>> YEAH, THERE REALLY I MEAN
THAT ACTUALLY IS TO TAKE THE
LATTER OVER TO THE 18 OR 19 IF
THERE'S STILL TIME TO FILE
WRITING EXTENSION.
THEN ALONG WITH THE 18 THE
INFORMATION'S IN THE SYSTEM
THEY STILL SHOULD BE ELIGIBLE
IF THEY MEET ALL THE
REQUIREMENTS SO THE EXTENSION
SHOULD NOT PREVENT THEM FROM
GETTING NEXT QUESTION IS ARE WE
REQUIRED TO PAY THE STIMULUS
MONEY BACK DOWN THE ROAD?
NO, IT'S NOT TAXABLE AS
MENTIONED IT IS A ADVANCE
PAYMENT.
THE RECOVERY REBATE CREDIT.
SO IT IS.
IT IS NOT TO BE REPAID ONLY IN
THE CASE OF A DEAD PERSON
RECEIVED IT.
FOR EXAMPLE, IF THE HUSBAND AND
WIFE GOT TWENTY FOUR HUNDRED
DOLLARS BUT THE HUSBAND DIED
BEFORE THE TWENTY FOUR HUNDRED
DOLLARS CAMIE AND THEN YES THAT
TWELVE HUNDRED FOR EXAMPLE
COULD VERY WELL NEED THE IRS.
>> ALL RIGHT.
I'VE GOT A QUESTION HERE THAT
TALKS ABOUT THE TIME LINE OF
CHECKS GOING OUT AND THINGS OF
THAT NATURE.
I THINK WE HAVE A GRAPHIC THAT
CAN ALSO BE USED FOR THAT AS WE
LOOK FOR THAT.
MARK, I'M GOING TO ASK YOU THE
QUESTION AND THEN WE CAN KIND
OF BRING IT UP IF WE HAVE IT.
HAVE CERTAIN PEOPLE RECEIVED
STIMULUS PAYMENTS BEFORE OTHERS
FOR A SPECIFIC REASON?
>> SO THE DEPLOYMENT OF
PAYMENTS IS NOT BASED ON
GEOGRAPHY OR LAST NAME.
IT'S BASED ON YOUR INCOME.
IT'S NOT YOUR TOTAL INCOME.
IT'S YOUR ADJUSTED GROSS
INCOME.
SO IF YOU'RE LET'S SAY NINETY
THOUSAND DOLLARS YOU WANT TO GO
DOWN ABOUT 30 PERCENT.
THAT'S ABOUT WHAT MOST
AMERICANS PAY IN TAXES.
SO YOUR ADJUSTED GROSS INCOME
AFTER TAXES TAKEN OUT IS THE
AMOUNT THAT IT DETERMINES YOUR
STIMULUS PAYMENT AN INDIVIDUAL
UP TO SEVENTY FIVE THOUSAND
DOLLARS IN ADJUSTED GROSS
INCOME OR RECEIVE UP TO TWELVE
HUNDRED DOLLARS.
ANYTHING ABOVE THAT.
THEN IT STARTS TO GO DOWN
IMPROVEMENT LEVELS.
THE SAME IS TRUE.
IT'S DOUBLE THAT FOR A MARRIED
COUPLE.
AND THE DEPLOYMENT SCHEDULE I
LOOKED AT THAT TODAY WERE RIGHT
AT THE BEGINNING OF JULY SO
THEY'RE NOW STARTING TO MOVE
INTO THOSE HIGHER INCOME
EARNERS THAT WOULD EARN LESS
THAN TWELVE HUNDRED.
BUT THEY STILL GET SOMETHING
STIMULUS.
>> AND OF COURSE THOSE THAT
WERE ON SOCIAL SECURITY OR
DISABILITY OR THAT KIND OF
THING THEY GOT IT FIRST BEFORE
A LOT OF OTHER PEOPLE AS WELL.
EXACTLY.
OK.
EXACTLY. OK. ALL RIGHT.
>> WE'RE GOING TO TAKE A QUICK
BREAK BUT WE HAVE THE NUMBER
HERE FOR YOU SO THAT YOU CAN
TEXT YOUR TAX RELATED