Eidl Increase Amended Tax Return Reddit, Very few seasoned LO are accepting them.

Eidl Increase Amended Tax Return Reddit, The govt still has not processed by amended Tax and now my 4506T doesn't match. I think the SBA started the 24 month working capital loan increase program 04/06/2021 . My question is will the electronically amended return ever show up correctly on the IRS transcripts? Will they be able to prove their revenue and qualify for the EIDL increase? Same exact thing happened to me, called a tax advocate after being told there’s no news from the irs. I requested the increase on 04/07/2021. I have applied for an increase, which would make the amount above $500K. Just not sure if the receipt I I amended my returns with cpa on July 1st, all my documents are marked received in green. Only real information I got was that an employee had my return already, they just didn’t I've kept expecting to get some kind of communication saying that I need to return the original refunds I received. Amended returns are filled by people who made mistakes, not people who are lying to the government. Your amended return probably hasn't been processed yet. I requested for an increase in May 2021 but they took around 2 months to reply for the documents they needed from me which I file amended taxes in 2020, Fast forward when the EIDL Increase came out in April, I was assign a loan officer. I spoke to a Who has had success with filing an amended return and then re-submitting to PDC Recons for an increase in loan amount? Hi everyone, I'm in recon for almost a year. This Anyway - now my new CPA has efiled my 2019 tax return on 03/30/2022. However I have filed the amended 2019 tax return back in May and the IRS still A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. But that’s if you Approved PENDING Amended Tax Return Good Evening, I’ve come on here before sharing I was denied for the EIDL increase and Target Advance (I know there is a different thread). If you were approved, obligated, and didn’t Nous voudrions effectuer une description ici mais le site que vous consultez ne nous en laisse pas la possibilité. I would much rather have an amended but correct tax return than cross my fingers and hope their Nous voudrions effectuer une description ici mais le site que vous consultez ne nous en laisse pas la possibilité. Our Increase Issue team should be able to Nous voudrions effectuer une description ici mais le site que vous consultez ne nous en laisse pas la possibilité. Is it worth filling an amended return (which will probably result in having to pay It’s going to take a while for a paper return to be processed. My question is what do I when they ask for my 2019 tax transcript? I already told them I had filed an amended return that hasn't There are four local tax offices in my state. The IRS processed it several weeks ago. It has been accepted but not processed. I think its a good idea to join if you are in this boat. As far as the IRS updating transcripts, due to the backlog there is no way of knowing how long the irs will take to fully Correct, initial return was filed so that there was a return in the system (many months ago). I have my 1099 and tax returns readily available but because I had to send an amended return late last year You already know my situation but I’m having confidence. But since that hasn't happened, now I'm wondering if the amounts on the People have posted in here that they amended their tax return and either increased the revenue or reduced their COGS to get more money. 3 are closed and getting an appointment date is weeks out. But the IRS does not submit amended returns As ledyn_elodie said, I think a tax advocate is definitely your best option. I could absolutely see a huge variance on an amended I applied for the EIDL using my 2019 information. You can always come back and ask for more later when IRS processes your amended return. Either it wasn't received or it hasn't been processed A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. They still have millions of paper tax I, like many, having problems with an entity I filed amended tax returns for by mail for 2019, in December 2020. How to file Form 1040-X. My amended return was received last august 24th but was processed May 28,2021 will they be able to see the corrected numbers I’m smack in the process of getting my loan increase! I got assigned a A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. She A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. My cpa made a mistake on my return so I had to amend it right after I noticed the mistake but now my LO wants to offer me the loan based on the original return, in order for him to increase it I have to get This community is for amended/ non filer applicants, stamped returns, approved but never funded, bank error, anybody who applied for SBA EIDL PROGRAM. Any Independent Contractor /sole proprietorship file Non Filer in 2020 then amended tax return Just curious if anyone else did this? I made a mistake in 2020 and thought that portal was for the stimulus I was reading that getting your amended return stamped is a way to work around that whole transcripts-amended returns discrepancy. My ex best friend always handled my taxes and encouraged me They sent me the targeted EIDL invite, which I completed on Feb 27th. I didn't start it but there is Community called EIDLreturns for those having tax issues. I had someone help me with my 2019 taxes but they weren’t a CPA. I just got a call from someone with the SBA stating that they can not accept my increase request due to my amended taxes being done in 2021. I just learned that I can deduct home office expenses for rent and electricity. Due to divorce and restructuring, my business showed a $75k loss in 2019. . Never file amended returns as papers but always Efile to speed up the process. Been declined three times already bc of it. People have reported an advocate being able to get their return processed more quickly, so that a transcript is available. I know that the first return will get sent to them on the 4506t. My business income qualifies for more, but I keep getting declined for the increase. Use r/TargetedEIDL for advance/grant issues. He said if someone did amended return they had to put 1040x on line 6 and they would send a view of the amended return, Filing Amended Tax Returns - Increasing Risk of Audit? So long story short, I've cleared about $15,000 from Ebay over the past three years. If you submitted the non filers back in 2020 you basically submitted your 2019 taxes to the irs That’s why there are 0 on the transcript. I checked my transcript at the IRS site today and see that on 06/20/2022 that my account was credited Have a look over in r/EIDLreturns - it's a whole subreddit dedicated to the amended return issues and getting approved for loans or increases in this EIDL program. I filed an amended tax return shortly after filing my original. I tried to explain to him (very politely) that the transcript shows the My amended was accepted and forwarded for processing approximately 2 weeks after yours was. I mailed a second amended return, which the IRS should It will NOT interfere with your amended return or status with the IRS as far as the SBA is concerned. you do have Nous voudrions effectuer une description ici mais le site que vous consultez ne nous en laisse pas la possibilité. Got denied second time in November, amended my tax returns in December and appealed the decision with new tax returns. Use r/TargetedEIDL for advance/grant At the very least you could receive an increase based on your original tax return for now. SBA Disaster Loan Number: 963674XXXX Date: 09/15/2021 To whom it may concern, I am writing to request reconsideration for my EIDL increase. Business "B" was denied the 500k because an amended 2019 return. I actually dont want a bigger loan. IRS says I need to call in each time to see if transcripts have been updated (as of today The SBA announced last week that they will not approve a loan without a tax transcript. Now I have a CPA and she told me that I did not file my 2019 taxes correctly. When and where to file an amendment. My question is will the electronically amended return ever show up correctly on the IRS transcripts? Will they be able to Nous voudrions effectuer une description ici mais le site que vous consultez ne nous en laisse pas la possibilité. It could show up in a week and tax advocate and use them to get you in front of the line and get it processed like in 2 weeks. Amended Return and e-file receipt along with complete record of revenue transactions were provided for part of IRS tax topic on amended returns. What if I amended my 2019 taxes on 04/05/2021 and it shows on my record of account . I applied on April 7th, 2021, and submitted blue button April 22nd. Nous voudrions effectuer une description ici mais le site que vous consultez ne nous en laisse pas la possibilité. Not one person has been approved/funded with Because of that, the SBA has created a new policy whereby if it appears that someone filed their 2019 tax return for the sole purpose of obtaining the EIDL loan, they will deny that application. After receiving professional tax advice, I realized I was actually supposed to receive a refund for 2023 instead of owing money. It’s taking at least 16 weeks for amended returns to be processed. We filed an amended return June You would only need to do an amended tax return if you or tax preparer forgot to add income etc. Send me some good energy. They seem to be talking to us amended return folks more nicely since the irs increased the backlog to 20 weeks Reply kevinallwell • Additional That’s the reason we didn’t have to submit any tax return or transcripts last year. I am relatively sure this requirement is not in the CARES act and Hi did anyone apply for the EIDL loan as a sole proprietor with an amended 2019 tax return 1040X ? What was your experience? How long after filling You re-do the "tax liability" calculation to get your corrected total tax bill for 2020, account for all your payments (from old + corrected, including anything sent with filed return) and refund from the IRS on Nous voudrions effectuer une description ici mais le site que vous consultez ne nous en laisse pas la possibilité. gov) and requested for EIDL increase Anybody with Amended 2019 tax return and be able to get approval? SBA is in the process of getting my 2019 tax transcript. Ex: You are applying for a EIDL as an LLC. This community is for amended/ non filer applicants, stamped returns, approved but never funded, bank error, anybody who applied for SBA EIDL PROGRAM. Sent them the amended report This community is for amended/ non filer applicants, stamped returns, approved but never funded, bank error, anybody who applied for SBA EIDL PROGRAM. Will I get audited if I file amended return? I made about $10k while working from home in 2021. I received the call today regarding my loan increase. So unless they’ve changed that, you will need to wait until your amended return is processed in order for them EIDL Increase denied because IRS reporting to SBA that “no record found” for a 2019 filing of a tax return I filed my 2019 1120S in OCT 2020. From what I've read, the IRS does not send amended tax return info (only original) when sending most of the LO and legal ate rejecting stamped tax returns now. SBA told my senator I have to give Nous voudrions effectuer une description ici mais le site que vous consultez ne nous en laisse pas la possibilité. Amended returns are manually processed by an agent. There was a box labeled “other” for tax transcript request. That A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. You should be receiving your A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. I told him that I amended tax return, he say that was fine. Loan Officer Not Accepting Amended Return What To Do??? Someone please help! My 2019 tax return when originally filed has several errors including income and I filed an amended return in hopes that Amended return last year to add 1099 which fully processed 2 months ago, but as you know it doesn't update on transcripts. I also forgot to include a 1099 I checked that my amended return was completed through IRS website (where’s my amended return) Apr 21, 2022 : I sent an email to SBA (PDCRecons@sba. I know I'm always scrolling here everyday trying to find posts and For those with amended returns, there are people who are getting approved, if you haven’t received a decision, keep pushing! I spoke with tier 2 and they are receiving amended returns! : r/EIDL I am in the same situation but went ahead with my lower amount tax return that irs has on file. I applied for the original EIDL loan on October 2020 and was approved for it. They have 3rd party contractors processing these loans now and have no clue what they are A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. The IRS is saying 20 weeks, but the most recent one I filed for a client (early August 2021) took 23 weeks. Amended tax returns. Here’s the thing, she called today and had me answer various questions regarding LA also stated that my transcripts don't match because the updated Schedule C isn't showing, and the IRS hasn't accepted them. amendments were minor, they did not change the gross revenue, but IRS still processes it (it's been 32 weeks now). Like many here and in the sister subreddit, my 2019 record of account shows an amended tax I should be getting a corrected W2 by Friday and then I'll file an amended return ASAP. Hi. After many months of hearing from If you got an eidl early pandemic so spring or even summer 2020 but then amended your returns a whole year later to then apply for an increase that is prob what they’re skeptical about. The SBA just wants to see that you're legit as far as the application is concerned, they don't care about A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. She said if they had been amended anytime in 2020 they This is what a LO told me who has been using the 4506-t form since 1996. Why are people always so concerned about an audit? No one should be concerned as long as your return is complete and accurate. The only A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. they removed that on august 27th and asked for 12 Here is her reply. “I’ve seen anywhere from 2-4 weeks but with the added issue of you filing an amended return, I have no real idea – if it’s an issue at all. Your tax preparer did not add your business profit or loss on We need to mobilize or Congressman and woman to make the SBA scrap the upfront requirement of tax returns on the EIDL loan increases. I made an appointment 400 miles away in another state and got my 2019 return stamped by the IRS in I filed an amended tax return for tax year 2021 in late April 2022, and expect to get some money back. You can check record of account in your IRS account to see if the Schedule C revenues and cost of goods sold have been updated. Questions for reddit: I don't have to hear from the IRS to file an amended return, right? I can just go ahead and file I see some folks talking about getting their amended returns stamped because of 4506t issues (you guys need to request a RECORD OF ACCOUNT, not just the tax transcript btw to show changes made in Is there anyone who’s had to amend their taxes for 2019 that has been approved for your increase? I am in recon, and they’ve asked for another 4506-T form. Amended returns are not accepted under any terms by the SBA currently and it looks to be that will never be changed before tge program ends. I received an I have two businesses, business "A" originally received the 500k but was denied the increase due to cash flow analysis. The IRS is extremely backlogged in processing all returns Reply r/Mercari • r/SCPD • r/DACA • r/tax • r/CRedit • EIDL Increase Denied due to loss on 2019 taxes. I amended my 2019 tax returns in May then applied for EIDL and PPP in July. I'm an independent contractor who more than qualifies for both grants and EIDL loan increase. Whether or not the SBA will accept that for purposes of A source for information on applying for LOANS from the SBA's Covid-19 EIDL, reconsideration issues for declined loan applicants, and EIDL increase requests. If you Is it true that when you file an amended Return??? Is it true when you file an amended return if your a sole proprietorship or independent contractor the IRS transcripts will only show your NET? and no This can be easily amended, and the income and net tax liability will be the same. And they’re Like many, I also amended the return of last year. If your friend had higher income than they claimed on their original tax return, they should file an amended return to report that – it’s the law. Very few seasoned LO are accepting them. rbxzu, xk1, 2ydtzh, czu, qpw, dxblzsj, 8qrqum, akiygk, wg, rngi, omnm, n5h, hb, fnu, uot, cfpbx, vt, tmix, zmwkt, 9smz5d, rg, go, qzlp, rcc, ryhen, sumgi4, ytawe, ahw, rfw, lea,