wow I'm so glad to here you guys talk about this situation. I prepare these credits for 10% and I refuse customers regularly because they don't qualify or they are mad because I tell them their family members don't qualify, and then later they might call me back and say someone else was able to do it. I still warn them that if they get caught IRS might audit other years of there income. In my email I tell them exactly how they qualify and they have to pay taxes on the money they get as if it was net profit. IRS is paying out lots of interest on these credits and I'm sure they will end up having to pay interest and penalties on the money the get.
Soft letter/reminder…great idea!!
Yes! Thank you!
wow I'm so glad to here you guys talk about this situation. I prepare these credits for 10% and I refuse customers regularly because they don't qualify or they are mad because I tell them their family members don't qualify, and then later they might call me back and say someone else was able to do it. I still warn them that if they get caught IRS might audit other years of there income. In my email I tell them exactly how they qualify and they have to pay taxes on the money they get as if it was net profit. IRS is paying out lots of interest on these credits and I'm sure they will end up having to pay interest and penalties on the money the get.