I'm not sure I'm posting this correctly or in the right place as this is my first time posting.
In light of the TIGTA report May 2022 on the the 2020 Rebate Recovery Credits, do you think the IRS will require taxpayers who filed Married Filing Separately for 2021 to take advantage of increased RRC/CTC amounts to pay back those amounts if they received the full amount they would have gotten filing jointly as an EIP paid in 2021?
Has anyone seen this happen with their clients?
I have read the law, opinions on the validity of this tactic, and the instructions/guidance put out by IRS, but am uneasy that the IRS may send letters to these taxpayers requesting repayment after the 2022 report. I haven't seen any TIGTA reports on the 2021 RRC/EIP or CTC issues.
I'm not sure I'm posting this correctly or in the right place as this is my first time posting.
In light of the TIGTA report May 2022 on the the 2020 Rebate Recovery Credits, do you think the IRS will require taxpayers who filed Married Filing Separately for 2021 to take advantage of increased RRC/CTC amounts to pay back those amounts if they received the full amount they would have gotten filing jointly as an EIP paid in 2021?
Has anyone seen this happen with their clients?
I have read the law, opinions on the validity of this tactic, and the instructions/guidance put out by IRS, but am uneasy that the IRS may send letters to these taxpayers requesting repayment after the 2022 report. I haven't seen any TIGTA reports on the 2021 RRC/EIP or CTC issues.
Any thoughts?