Will you bill for amended 1040 with unemployment

I helped many clients in 2020 get unemployment, PPP loans, Provider Payment, and everything else. I did this free of charge because many of my clients were really struggling. I regretted that choice only a week after I started. I don't think I will amend for free this year. what are your thoughts?

Don't work for free. Ever. Unless you made a mistake and must fix it.

I think at this point it's advisable to notify any clients that received unemployment that you recommend waiting until we have more clarification (and perhaps until software catches up). An extension may be necessary.

Also all clients who have higher AGI in 2020 than 2019 (unless they're well above the phaseout either way) until we have clarification on EIP 3.

One problem with recommending that they wait is that if they made less in 2020 than they did in 2019, waiting could possibly exclude them from the 3rd stimulus that is pending.

I plan to charge my "cost" to most of my retail 1040 clients which is $150 per amendment to cover my expenses. But it also might depend on the client (more for PITA retail clients, free for business clients for which amended returns are included in a monthly flat rate).

I would not have done the work as indicated in the OP for free.

One problem with recommending that they wait is that if they made less in 2020 than they did in 2019, waiting could possibly exclude them from the 3rd stimulus that is pending.

EIP 3 contains a provision for a second determination date, so this won't be an issue.

Unless it's been written out by the 100 amendments the Senate just put in...

You helped clients get unemployment? unless it was a couple of minutes providing factual information, I would not even do that work, whether paid or not.

I gave them the option to file now and amend for a cost or wait and see. The clients that didn't want to wait are already high maintenance. I don't work for free.

You helped clients get unemployment? unless it was a couple of minutes providing factual information, I would not even do that work, whether paid or not.

I've been called about unemployment and about filing for the senior exemption for property taxes. I tell them it's not my area of expertise.

I gave them the option to file now and amend for a cost or wait and see. The clients that didn't want to wait are already high maintenance. I don't work for free.

Same here. Had one wait until this week, then decided he needed his money. Next day word came down on Senate vote.

When you work for free - you cheapen your value - now those clients will always expect low or no charges
for your work.
It will be a fight every time you attempt to charge your normal rate, you will see.
Think about moving to an area with with a higher per capita income, and
many more affluent people, unless you like being poor.
Your kids will want to go to college someday - what will you tell them?
Daddy gave his poor client a break so there's no money for college!
Most CPAs made really good fees charging for PPP loans and forgiveness.

I think everyone here should check out this short but classic clip -- it's about writers but applies to tax preparers just the same: https://youtu.be/mj5IV23g-fE?t=12

Note that the language may be a bit "Not Safe For Work (NSFW)" so you may want to use headphones on this one.

I don’t think we will need to amend for the UI. The IRS will do the calculation and send checks. Just like they did with the capital gains thing 2 years ago.

This amendment if required to exempt the first $10,200 of UI is different from your run of the mill amendments as perceived by your clients. Think about this strategically from a client relationship perspective for your better clients who you want to retain.

Put yourself in their shoes and think for a second how you would like to be treated by your accountant, especially when they are not causing this amendment.

When you work for free - you cheapen your value - now those clients will always expect low or no charges
for your work.
It will be a fight every time you attempt to charge your normal rate, you will see.
Think about moving to an area with with a higher per capita income, and
many more affluent people, unless you like being poor.
Your kids will want to go to college someday - what will you tell them?
Daddy gave his poor client a break so there's no money for college!
Most CPAs made really good fees charging for PPP loans delivery. iveness.

You are absolutely correct. When I took this over from hubby I found that not only were his rates ridiculously low, but he also did free pick up and delivery. He was using Lacerte and didn't even increase his fees to keep up with the REP increases. Many of these clients would wait until April for their free pickup and delivery. I made him do the pickup and delivery.

Eventually some of them would meet him halfway. Each yearly I slowly increased the rates and gave them detailed invoices to show them the big discount they were still getting. When I went on my social media group to offer a 30% discount to military clients, one of the other clients, aka 'Stiffy' commented with what about us long term clients, I informed him that he's getting a better rate than the military.

This amendment if required to exempt the first $10,200 of UI is different from your run of the mill amendments as perceived by your clients. Think about this strategically from a client relationship perspective for your better clients who you want to retain.

Put yourself in their shoes and think for a second how you would like to be treated by your accountant, especially when they are not causing this amendment.

Before e-filing, I informed my clients of this possibility and the cost to amend or wait. If they chose not to wait, then I will charge.

Don't work for free. Ever. Unless you made a mistake and must fix it.

I think that's just about perfect.

This amendment if required to exempt the first $10,200 of UI is different from your run of the mill amendments as perceived by your clients. Think about this strategically from a client relationship perspective for your better clients who you want to retain.

Put yourself in their shoes and think for a second how you would like to be treated by your accountant, especially when they are not causing this amendment.

Before e-filing, I informed my clients of this possibility and the cost to amend or wait. If they chose not to wait, then I will charge.

I'm charging whether I asked them to wait or not. Do they set the alarm, commute to work, and bust their buttons for free? No, they have bills to pay and that's why they do it.

Me too.

It's not their fault, but it's not mine either, they can write to their law makers.

I'm not greedy or mean, I do free taxes for some and I give generously to local and global charities.

If a client can't afford it and has children, I will make an exception.

I only have a handful but I advised them to wait and they listened.

The returns are basically done. Once the tax software updates, it's just a matter of recalculating and doing the last 10% I was going to do anyway, so I'm not charging extra.