2 ms·
Might as well tell my story. The way it's gone for me is last year converted my company from S-corp to sole proprietorship. This was done because my state (NJ)
by joecool1029 6y ago
Might as well tell my story.
The way it's gone for me is last year converted my company from S-corp to sole proprietorship. This was done because my state (NJ) was paying out unemployment claims to people I have never met (in NY) and providing me with no way to contest this other than to retain an attorney and file in superior court. The conversion had some minor tax implications but otherwise would allow me to draw instead of pay myself a salary subject to unemployment taxes. For 3 months this year I was out of operation due to COVID, during which time CARES Act was supposed to pay unemployment + $600/wk to sole proprietors. Stuck pending since April, expect to never see it. I have sent letters, faxes, spoken to court clerks, assemblymen, reported to unemployment's investigators regarding the false claims I had for a few years before COVID hit, and I was never able to get a resolution.
Regarding the IRS end, no check here. The CARES act wasn't written for people who didn't file in 2018 but were required to file in 2019. It explicitly said to not use the non-filer option if a 2019 return was required. I'm still trying to get my ID verified with the IRS (I haven't moved, they accepted 2 corporate returns last year with my name on them, and I've never hit this requirement before). I do not expect to see a check from them either. Nobody there to answer the phone for weeks now.
I did, however, receive one soft notice from the IRS notifying me that I should review and re-submit a return from (I think?) 2012 or 2013 for unreported bitcoin transactions. Yeah... I'll get right on that.
- tabob 6y agoYou should know that a company called Phunware, which built Trump's campaign app, received 3x as much CARES stimulus per capita than anybody was supposed to get. If you voted Republican and donated to the GOP you are way more likely to get CARES checks. They're a horoscope company which ripped off "investors" for $40m in a scam ICO 3 years ago, and they donated heavily to Trump.