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Taxes (USA) thread. What is your refund/pay status?


Joanne
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Getting a refund.  Although I did our taxes with estimates for the CSS profile, they really aren't complete because I am waiting for some documentation (and I can probably find more deductions.)  I should have them done by the end of the month.  The  $$ will go in the bank and some will fund an IRA.  It may help pay for some travel this summer for dd's climbing (she has a good chance of making Nationals this year.)  And some will help pay tuition for college this fall (with 2 kids going.) 

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My update: It was accepted by the IRS since my first post. Applications estimate the deposit on 2/21/2014. Where's My Refund reports is is being processed.

 

My laptop is over 6 years old, does not support modern browsers or recognize wireless printers. I may get a new one.

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I don't use a tax prep program. I took a tax prep class about 20 years ago (before TurboTax and such programs were widely used) and have just always done it myself.  It only takes me about an hour to do the preliminary estimations so it's not a big time sucker. You know how some people love to garden or do yard work or clean their house? Not me. But I LOVE doing our taxes.  Sick, I know.

 

I LOVED doing taxes too. My husband work for H&R Block so he does it now. But I "keep a hand in" by going over the printed documents before it goes out.

 

I am waiting for one more document and then he'll take all the paperwork in to work and do our taxes when he hits a slow time (So it might be a couple of weeks)

 

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Refund for us. The quilt store that I worked at still doesn't have my W-2 to me - I think that they are going to be in big trouble for this because my understanding is that as of today, they still didn't have them ready! I didn't make much and we kept track of the deposits so dh was able to estimate. But, we can't file until we get the blasted thing. I'm trying very hard not to get them in trouble. There are some MEGA health issues that have hit both owners in the last 30 days, however, at some point there is probably going to be some trouble because when they realized they would not be able to get them out on time due to being hospitalized early in January, and then not being well since, they waited until Jan. 30th to hire an accountant!!! Uhm....that should have been the first week of Jan. when they were both so ill.

 

The funny thing is that while the federal refund is good sized, we'll owe about $150.00 to the state. Don't ask me why! Dh's employer has NEVER been able to get the withholding right for the state. We've had this problem every year for the last decade.

 

 

Just FYI...

Owners won't get in trouble for mailing W2s late.  The mailing deadline to recipients was Jan 31.  Filing with government is end of Feb.  This is true for W2s and 1099s.  If a recipient reports owner to IRS and opens a case, then owners get in trouble.It stinks that they are late. 

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Refund for us. The quilt store that I worked at still doesn't have my W-2 to me - I think that they are going to be in big trouble for this because my understanding is that as of today, they still didn't have them ready! I didn't make much and we kept track of the deposits so dh was able to estimate. But, we can't file until we get the blasted thing. I'm trying very hard not to get them in trouble. There are some MEGA health issues that have hit both owners in the last 30 days, however, at some point there is probably going to be some trouble because when they realized they would not be able to get them out on time due to being hospitalized early in January, and then not being well since, they waited until Jan. 30th to hire an accountant!!! Uhm....that should have been the first week of Jan. when they were both so ill.

 

The funny thing is that while the federal refund is good sized, we'll owe about $150.00 to the state. Don't ask me why! Dh's employer has NEVER been able to get the withholding right for the state. We've had this problem every year for the last decade.

 

 

If I worked at a quilt store the taxes would be the least of my problem. Every week instead of owing me a paycheck, I'd probably owe the store money. 

 

We always owe state taxes too. Drives me crazy. 

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We're still waiting on some of our forms. One of them said it won't be ready until mid-February, which is super-annoying. I thought they had to be out as of the 31st but I guess with all the shenanigans in D.C. last fall, the tax code wasn't finalized on time so the IRS gave an extension on the deadline for sending forms.

 

DH switched jobs mid-year and they took out double Social Security, so we're going to get at least that back. Not sure about the rest since we don't have all of our info.

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No idea how ours will turn out:

 

I owe $500 from the 4th quarter (self-employment, there will be a penalty)

DH's income was cut (sequester, and then moving to Italy, so our income for the 4th quarter is about 20-25% lower...)

Took an emergency pay out from retirement account due to sequester (so, tax hit there)

Deductions for preparing house for rental, and taking a loss on the rental (may offset something...not sure how much)

 

I'm hoping, but dh said not to count on anything :(

 

Can I ask a question? You mention that you owe from the 4th quarter foe self-employment and there will be a penalty. We also owe for self employment, but no pernalty seemed to be applied, does it do so automatically? How do I figure out what the penalty is?

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Care to share any more about TaxAct?  I have used TurboTax for years with no issue, but this year the redesign of the UI was just terrible, and the "help" they offer is useless.  When I was doing the final check I accidentally checked no to a question where I should have checked yes, and it totally reversed my refund and actually had us paying.  The problem was that I didn't know where on the actual form I'd checked that box, and it didn't show up in any of the questions.  It was just on the final check.  I called in and they tried to help, but I eventually figured it out on my own before they came back to the phone, and when they did come back they gave me the wrong answer.  It's frustrating.  

 

I'd like to switch but I like that TT transfers the information from prior years, and I have no confidence that others will be any better.  I like knowing there's hope!

We had issues with Turbotax last year when they changed the 1099 format for capital gains/losses. I was totally frustrated and had no idea how to fix it and the software just kept bumping me around and the customer service was terrible and told me to call our investment company. Some one on here raved about Taxact and I looked in to it and filed with them then. Had no issue and everything easily went in correctly the first time by using their prompts for the investments.

 

Taxact walks you through everything I feel much easier, but also in a more simplified manner. It goes back over everything and double checks at each section and actually gave me a red flag for something and helped me fix my error. It does input info year to year and this year they sent me a notice in the fall to lock in my price then. So, I paid 13.95 for state and federal including inputting info in to both. I know Turbotax is more for the level Taxact is naturally without upgrading. Last year, I contacted customer service and there was no wait time and they were kind and helpful.

 

Look in to it. I feel they are definitely superior for the price.

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I don't think we have everything to file yet, but I think we'll get a small refund this year.

 

We adjusted dh's withholdings this past year because we almost had to pay last year. We didn't realize that you don't get the child tax credit the year a child turns 17. Our eldest had turned 17 in December of the previous year, so we didn't get the tax credit for her. We did get a refund, but barely.

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E-filed ours via Turbo Tax by January 15th. It was accepted around the 24th and we are due a refund before Feb 21st. We have paid the last two years because we couldn't get adjusted to dh's income increase and the inability to claim my kiddos anymore, but this year we are getting back about $6500 (paying state $1400 of that though). Of course it's going into savings because we just took out a chunk for my new vehicle.

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I don't think we have everything to file yet, but I think we'll get a small refund this year.

 

We adjusted dh's withholdings this past year because we almost had to pay last year. We didn't realize that you don't get the child tax credit the year a child turns 17. Our eldest had turned 17 in December of the previous year, so we didn't get the tax credit for her. We did get a refund, but barely.

 

 

I think it's goofy that the cutoff is 17.  Either make it a CHILD tax credit that ends at age 12 or so, or go all the way until the kid turns 18!

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I don't think we have everything to file yet, but I think we'll get a small refund this year.

 

We adjusted dh's withholdings this past year because we almost had to pay last year. We didn't realize that you don't get the child tax credit the year a child turns 17. Our eldest had turned 17 in December of the previous year, so we didn't get the tax credit for her. We did get a refund, but barely.

 

This is good to know.  My oldest turns 17 this year and I too assumed he would qualify this year but not next year.  That's a bummer we lose it a year earlier.

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I use TaxAct to file both Federal and State. I think it's $25 and includes the archive so I can access the return for three years. They also transfer over my info from last year which saves on data entry. I have ours all entered, but I think I'll wait a bit to submit it just in case there's something missing. My big plus is that I got a better picture of how much we saved by refinancing last year. My mortgage interest deduction went down $3000-ish.

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Mine are about finished in my turbotax software. I just need to go over it with a fine tooth comb and be sure I entered if all correctly. I actually spent about 40 hours over Christmas break doing them because I had to know if I should pay some of our rental property taxes before the end of the year to maximize our refund. Now I just have to go back and enter a few things and check for accuracy. This will sadly be our last year with a really nice refund because our rental houses have all become profitable. Which is great, but I will miss that chunk of money each year.

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Can I ask a question? You mention that you owe from the 4th quarter foe self-employment and there will be a penalty. We also owe for self employment, but no pernalty seemed to be applied, does it do so automatically? How do I figure out what the penalty is?

 

 

I have skipped paying estimated taxes (for self employment) before and just waited for the IRS to send the bill for the penalty.  The interest rate is not tragic (all considering).  If you want to figure out the penalty, there is a form/instructions that will walk you through the math.  They have a quirky way of calculating the penalty.  On the IRS site, search for Form 2210 to figure your underpayment penalty.  Hope that helps.

 

 

In the past, Turbo Tax has asked during one of the interviews if you have made estimated tax payments.  If you say no and get to the end, it says that you may owe a penalty, and do you want TT to figure this for you.  If you say yes to letting them figure it for you, they will and then ask if you want to go ahead and pay penalty.  In my opinion, it was easier to just let the IRS do it.  

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Apparently TT screwed up my state return, so it just got rejected. I go back to fix it and spend forever trying to. There's a glitch where it won't accept when my federal return was accepted since it needs to be after 1/31 even though I have documentation that it was accepted 1/28. I'm really mad and not using them next year. This is a disaster.

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I don't think we have everything to file yet, but I think we'll get a small refund this year.

 

We adjusted dh's withholdings this past year because we almost had to pay last year. We didn't realize that you don't get the child tax credit the year a child turns 17. Our eldest had turned 17 in December of the previous year, so we didn't get the tax credit for her. We did get a refund, but barely.

That was a surprise to us as well.

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I have skipped paying estimated taxes (for self employment) before and just waited for the IRS to send the bill for the penalty.  The interest rate is not tragic (all considering).  If you want to figure out the penalty, there is a form/instructions that will walk you through the math.  They have a quirky way of calculating the penalty.  On the IRS site, search for Form 2210 to figure your underpayment penalty.  Hope that helps.

 

 

In the past, Turbo Tax has asked during one of the interviews if you have made estimated tax payments.  If you say no and get to the end, it says that you may owe a penalty, and do you want TT to figure this for you.  If you say yes to letting them figure it for you, they will and then ask if you want to go ahead and pay penalty.  In my opinion, it was easier to just let the IRS do it.  

 

Thank you, that was just what I wanted to know!

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Filed and waiting for my money!! We are getting about $7500! We had to sell our car last year to even make it through the year financially (and paid ofd our medical bills) so we will be getting a second car. We won't be stuck at home all week! :) i am really hoping we won't need our tax money next year. For the past few years we have needed it just to survive. It would be nice to have something to save next year.

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Just FYI...

Owners won't get in trouble for mailing W2s late.  The mailing deadline to recipients was Jan 31.  Filing with government is end of Feb.  This is true for W2s and 1099s.  If a recipient reports owner to IRS and opens a case, then owners get in trouble.It stinks that they are late. 

They still have not sent the W2's. They won't return my phone calls.

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Our refund was in our checking account when I woke up this morning. Now I can go pay our property taxes and transfer most of the rest to savings. I do need to spend some on clothes and shoes. 

 

Mine, too, although it's not very much.  It's enough to pay my annual homeowners association dues, for my husband to buy that guitar from his co-worker that he HAS to have (because the bazillion he has already aren't enough....this one is DIFFERENT!), and  pay for my daughter's driving lessons.  Again.  Because she just isn't learning from me.

 

How very exciting.  Sigh. 

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Mine was accepted on the 29th, but still waiting to be approved.  One of my sister's was accepted on the 31st, but still waiting to be approved.  My other sister was accepted on the 30th and hers will be deposited on Monday the 10th.  There goes the nice easy payment schedule from the IRS (like last year I believe was Fridays). I only know that I need this money to come now.  Any other year, eh, whatever, but this year we are in the red really bad.  C'mon money!

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I filed our Federal Taxes last night using FreeTaxUSA.com. I've used them for the past 6 years, I believe.

 

I'll start working on our GA State Taxes in the next couple of days. I'm going to try the Dept of Revenue's online system so I don't have to pay FreeTaxUSA $12 to file the state tax portion.

 

Our tax returns are very simple. :)

 

ETA: We will be getting a refund from both Fed and GA. But, we've done some revising of DH's W4s and such so the amount taken out of his pay is more similar to what we actually owe, maximizing our paychecks.

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I filed our Federal Taxes last night using FreeTaxUSA.com. I've used them for the past 6 years, I believe.

 

I'll start working on our GA State Taxes in the next couple of days. I'm going to try the Dept of Revenue's online system so I don't have to pay FreeTaxUSA $12 to file the state tax portion.

 

Our tax returns are very simple. :)

 

ETA: We will be getting a refund from both Fed and GA. But, we've done some revising of DH's W4s and such so the amount taken out of his pay is more similar to what we actually owe, maximizing our paychecks.

Just got an email that my return has been accepted - took less than 24 hours! Now up to 21 days to wait for direct deposit.

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I have no idea where my state refund is.  It's even smaller than my federal, but it's still mine and I want it!   The return was accepted but not until 2/2, so I wasn't expecting to see it yet anyway, but when I go to the state "Where's My Refund" site and enter the info it says that the information doesn't match their records.  So, I'll just wait.  It'll show up. I hope.

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We are getting refunds. I e-filed ours on January 27th through HRBlock online. It was accepted on Feb 1st and its says on the IRS website we should get our direct deposit posted on the 10th. Our state refund actually posted today. This is the first time I've actually finished ours so early. I usually drag it out to the last minute, lol.

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Ugh, my ds will turn 17 in November, (in 10 years lol) I feel cheated!

 

Yeah, DD turned 17 in November and I feel a bit cheated too to lose the child tax credit.  However, I got to claim her for the year she was born and she'd only been around for a few weeks.  It balances out.

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Yeah, DD turned 17 in November and I feel a bit cheated too to lose the child tax credit. However, I got to claim her for the year she was born and she'd only been around for a few weeks. It balances out.

Yeah, we got a 2008 tax rebate, the child tax credit and the exemption for a child who was all of 3 days old on Jan 1. It balances out.

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I don't use a tax prep program. I took a tax prep class about 20 years ago (before TurboTax and such programs were widely used) and have just always done it myself.  It only takes me about an hour to do the preliminary estimations so it's not a big time sucker. You know how some people love to garden or do yard work or clean their house? Not me. But I LOVE doing our taxes.  Sick, I know.

 

nah .... not sick. A little weird, maybe, but not sick.

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They still have not sent the W2's. They won't return my phone calls.

 

 

I'm not an accountant, just a small business owner who had to become very, very educated regarding taxes throughout the last 7 years...BUT

 

I *think* you might be able to use your year end totals from your last paycheck and when asked if you are using a W2 that was provided or prepared, you answer no and go from there.  I can't remember the exact question from the software so this could be completely wrong.  But it might be worth pursing or researching.  Hope this helps some.

 

 

...It's really crappy and irresponsible to not send out W2s in a reasonable time frame regardless of life's circumstances.  We take on certain responsibilities as a business owner regarding our employees.  :(  I know it's hard as an owner.  I know.

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