Zoom Logo

MEIC: Michigan Pension and COVID-19 - Shared screen with speaker view
laura rios
20:36
This extra income might put them over the income level to receive VITA assistance.
Cathleen Miller
33:25
Do they get more than one 1099 for unemployment one for federal and one for state?
Cheri Puryear
33:33
Yes, the extra income may cause a taxpayer to exceed the income threshold for VITA. However, it is important to note that income over the threshold is not an out of scope situation. Programs can decide on a case by case basis to serve clients whose income is over. For instance, if a tp known to the site has income over the limit for this year, only because of the added unemployment and their income is expected be within limits a site can choose to serve them.
Cheryl Kappler
33:40
Will clients have any documents for PPP loans received?
Martha Ratliff
34:51
Will we just take the taxpayer’s word for the fact that an early distribution was for a COVID-related emergency?
Cheryl Kappler
35:16
so you think there will be a tax form?
Steve Goeddeke
36:11
For those receiving FEMA compensation for dam failure related damages, will they receive any sort of tax statement? If so, will that impact their federal AGI and/or Michigan income?
Robert Mull
01:01:16
The social security formula break points have not change since that were incorporated I think in 1992.
Ted Wolanin
01:09:36
Your slide #20 would make a good "scratchpad" for preparers to use
Mark Marinan
01:10:46
For subtraction, does the pension have to be the deceased spouse's, or can it be the surviving spouse's if the deceased spouse was born prior to 1946?
Barbara Richman
01:13:22
if spouse also has a pension can that be subtracted too in addition to deceased spouse pension?
Garylle Smith
01:14:52
This is a lot of great information and very well explained! Thank you
Robert Mull
01:23:34
Great idea on the service fee spread sheet.
Barbara Richman
01:25:26
How do you handle clients that heat with two sources, e.g. Electric plus wood stove?
Robert Mull
01:27:30
Very helpful Robert
Ted Wolanin
01:28:34
Back to Tier 3, born in 1953 -- If taxpayer takes Option A (std deduction, no personal exemption) against taxable income, he / she can still take personal exemption for Home Heating Credit. CORRECT?
Barbara Richman
01:31:09
What do you use for heating costs if electric when the bill includes lighting, cooking and other uses?