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This does not sound like an "excess contribution" under federal law. That happens when you contribute more than the federal cap (19000 for employee, 57000 for employee + employer contributions, assuming no catch up; possibly 1-2k lower depending on the year this actually happened). I would not take the money out of a retirement account without ...


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According to Question A5 of the IRS' 2021 Child Tax Credit and Advance Child Tax Credit Payments FAQ: Q A5. What if I do not want to receive advance Child Tax Credit payments? (added June 14, 2021) A5. If you prefer not to receive monthly advance Child Tax Credit payments because you would rather claim the full credit when you file your 2021 tax return, or ...


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The right way to handle this situation is, "You can't charge me penalties because I acted on the advice of my CPA". That is Mr. X's "get out of jail free" card. However, it sounds to me like Mr. X's corporate accounting is being done "on a wing and a prayer" and with far too little interactions with the tax professionals Mr. X ...


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Disclaimer: I am not a lawyer. I am not an accountant. I am not even a U.S. citizen. This is not advice. Aside from doing nothing and having the IRS pursue further enforcement actions against you and your business, the options available to you should the IRS deny all your appeals appear to be simply: settle up by paying the fines or penalties as demanded ...


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She could try getting an in-person appointment at her local Taxpayer Assistance Center (TAC). Although the IRS does not mention it, one article states that you can write a letter to the director of your local TAC. You could mail a printout of the "Where's My Refund" screen along with a copy of her 2019 return and a cover letter explaining the ...


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If your child was born in 2020, then they should have been included in your tax forms files in May 2021. The plus-up payment rules would apply: Plus-Up Payments We are sending additional or plus-up payments to people who: Already received a third Economic Impact Payment based on a 2019 tax return or information received from SSA, RRB or VA May be eligible ...


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From IRS.gov, What should I do if I disagree with the changes you made? If you disagree, contact us at the toll-free number show at the top right corner of your notice, or respond by mail to the address on your notice. If you write to us, include a copy of the notice along with your correspondence or documentation. (emphasis added) We’ll reverse most ...


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From your link: The third round of Economic Impact Payments was authorized by the American Rescue Plan Act of 2021 as an advance payment of the tax year 2021 Recovery Rebate Credit. It is an advance payment of a credit on your 2021 tax return, based on the information they had available from your most recent tax return (at the time they processed the ...


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