Though we went into some discussion here on this topic, the title linked Toledo Journal article goes into more detail. Including getting the opinion of a CPA, one small part of that article:
George Sarantou says Ben Konop’s proposal to help more people get Earned Income Tax Credit refunds is unnecessary because the Internal Revenue Service is already taking care of it. But a Toledo certified public accountant says Mr. Sarantou’s comments are “reckless” because he’s suggesting that low-wage earners can merely sit back and wait for their tax credit checks to arrive in the mail. “If you listen to Sarantou, you could be missing out on this credit,” the CPA said. He requested anonymity because he doesn’t want his accounting firm embroiled in the Sarantou-Konop election battle for a seat on the Lucas County Commission.
There is quite a bit more at the link, including:
It’s pretty well automatic,” Mr. Sarantou said. He said taxpayers can wait for the IRS to provide the refund. The IRS notifies people who qualify but had not realized it, he said. “There a letter with a check. The check’s always included,” Mr. Sarantou said. He later said the envelope with the check might arrive a week or so after the notification letter from the IRS, but that the process remains automatic.
The CPA disagreed, as an example:
He said the IRS does have computers that “sometimes” flag a potential EITC-qualifying income tax filing. The IRS will notify the filer by mail, but a recipient who is not expecting a check might be hesitant to open an envelope from the federal government, he said. If he does, he’ll read a notice that probably will say he “may be eligible” for the EITC but that he’ll have to complete paperwork. “The letter does not say ‘Wow! You qualify for the tax credit! Here’s your money!’” the CPA told The Journal.
I recommend reading the whole article...
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2 comments:
What kind of a dream world is Sarantou living in?
One in which the Government always does what is right, for everyone, every time.
i.e., a FANTASY world.
HAH!
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