Money waits for owners
The process of scoring a COVID-19 vaccine can be maddening. You need a load of persistence and luck. Some mental games and tricks don’t hurt, either.
The state Department of Revenue says more than $45 million in unclaimed assets is tied to over 159,000 people with Maricopa County addresses. The agency seeks to pair owners with funds.
The Internal Revenue Service is prepared for the start of the income-tax filing season on Feb. 12, with IRS commissioner Ken Corbin declaring “we are ready” in a conference call with the financial media.
But how ready is a matter of debate.
The IRS already is benefiting from a delay of more than two weeks to the traditional start of the filing season, and it still hasn’t fully processed all tax returns for 2019. And while IRS staffing has ramped up, the agency isn’t expected to interact with all taxpayers in a timely manner.
Here’s what all that means:
Staffing ramps up, but expect delays
Like many employers, the IRS had to slow operations to deal with the coronavirus pandemic last year. Corbin said all temporary, seasonal workers are now in place for the current tax season, without citing a number.
Phone lines also are open but subject to “extraordinarily long” wait times. Taxpayer assistance centers are open to handle a limited range of services by appointment (call 844-545-5640 to make one). Amid this backdrop, the IRS strongly urges taxpayers to try to find what they need on the agency’s website, irs.gov.
Free personal tax assistance is available through roughly 11,000 VITA and TCE sites across the country, with many offering over-the-phone or online assistance. Information on the Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs is at irs.gov.
Some 2019 returns not yet processed
Roughly 6.7 million individual federal returns from 2019 weren’t processed as
of late January. These returns were opened and are being reviewed, corrected or are awaiting input from taxpayers regarding math errors or other inconsistencies.
Heavier filing season expected
The IRS faces a heavier workload this year, with the agency forecasting 160 million individual income-tax returns will be filed, up from 154 million in 2019. The normal filing deadline remains April 15, though six-month extensions are available to Oct. 15.
(As with the IRS, the Arizona Department of Revenue is accepting electronic returns starting Feb. 12 and has the same April 15 and Oct. 15 deadline dates.)
People who don’t normally need or want to file returns will want to do so to claim the recovery rebate credit. Households may receive this payment if they were eligible for a stimulus payment (also called economic impact payments) yet didn’t receive one, or didn’t get the correct amount.
Congress could further complicate the IRS workload if it approves a third round of stimulus payments in coming days or weeks. Corbin said the IRS is closely monitoring and preparing for this possibility.
Refund delays are possible
Millions of taxpayers will receive their refunds later this year simply because of the two-week delay in the filing season. Also, payments tied to the earned income tax credit and additional child tax credit won’t go out before Feb. 15 at the earliest, and probably more like Feb. 22, Corbin said.
Still, the vast majority of returns will be processed swiftly. “We expect most refunds will be sent in less than 21 days,” he said.
As is normally the case, electronically filed returns will process faster than paper returns, with quicker refunds.
Not all stimulus payments sent
The government sent out 160 million stimulus payments in the first round early last year and 140 million in the second round starting at the end of December. That implies around 20 million households are still waiting for their money, and most likely won’t receive it as stand-alone payment, whether as a check, direct deposit or debit card.
As noted, eligible households that didn’t receive a payment will need to claim it as a “recovery rebate credit” on their 2020 tax return. This will necessitate filing returns for some individuals who normally don’t need to do so.
“Remember these three words: penny, chair, apple.”
Earlier this month, I saw my doctor hoping to score a COVID-19 vaccination. The appointment was booked as an annual wellness exam, compliments of Medicare. It began with a cognitive assessment –– repeating three key terms. The words were followed by my internist’s feeble attempt to distract me.
“Now draw a clock using twelve numbers showing the time as 3:30.”
I wasn’t about to fail either of these tests. My picture of a clock wasn’t a work of art, with its lopsided circle and crooked numbers, but I took great pride in placing the hands in the right direction and yes, I drew the hour hand shorter than the minute hand. I admit the integers weren’t evenly spaced, but who cares, I was busy chanting three words in my head.
After receiving high marks on my draw
ing, I was asked to recite the words, which I did in perfect order. “Penny, chair, apple.”
“Good,” she said as she charted my response.
“You might want to switch your choice of words next year,” I suggested. “It’s more of a challenge.”
She smiled and said I had an excellent memory.
After I passed the cognitive portion, my internist checked my chart.
“You’re overdue for ...”
“A COVID injection?” I interrupted. Her reply sounded like a recording, “I know nothing about the specifics of scheduling, only that it will be offered to my patients. Not sure when.”
As for the COVID-19 vaccination, we all know it’s a limited supply, offered at random or by “class” at this point — 1A, 1B, and 1C. It’s about who you know — preferably a “wise guy” to a doc.
I now have 12 vaccine links on my computer. I’m signed up and ready to go. It’s like speed dating but winding up with a shot instead of a new beau or gambling with high stakes (a diagnosis of COVID-19). If a cancellation pops up, you’ve hit the jackpot. All I see are bold letters at the bottom of the page: THERE ARE NO SLOTS AVAILABLE AT THIS TIME. PLEASE TRY AGAIN.”
Couple of Sundays ago, I went with a friend to her 3:30 a.m. appointment at State Farm Stadium, hoping to cop one for myself. I was rejected for obvious reasons: “No appointment.” On our way out, we saw a neighbor who had brought her 40-year-old healthy son and won the lottery –– they both received a vaccination.
The other morning I woke at 7 a.m., armed and ready with my cellphone and computer to sign up at Phoenix Municipal. Appointments for 21,000 COVID-19 injections were taken within 40 minutes after becoming available. My husband landed one, yelled “bingo” while I watched a spinning beach ball rotate around the screen. Our parlay strategy failed.
OK, I get it, everyone is trying to schedule at the same time and it’s overloading the system. There’s a big mystery surrounding the distribution of vaccine, like a secret society who makes up the rules for different counties –– who decides the who, what, when and where. The bylaws seem to be privy to only a few.
“Get on the sites at midnight after you set your cellphone to London time and click the link.” Just yesterday, the trick was to wake at 6 a.m. and begin clicking. I’ve now developed trigger finger.
A few friends are driving hours to secure a needle in their arm or flying private jets to a different state hoping to be one of the lucky ones. Some of my younger pals said they received the vaccine because an important acquaintance made an appointment for them, someone had an “in” with somebody high up.
So you see, one can get scheduled with a modicum of luck and knowing the right people or going with little or no sleep for a few nights, getting rundown and being more susceptible to the novel coronavirus. Everyone has their theory.
For now, I’ll keep networking, thinking about road trips to nearby states, sharing new links to click on, using my left hand to give my right a break –– all with the hope of winning the lotto.
At least I know my memory is still intact, “Penny, chair, apple.”