We pay quarterly taxes and plan/hope to come out about even or close to not owing, but this year it was pay another $400. I always do the taxes as soon as I have all the appropriate information on hand. I hate having it hanging over my head - I love to get it off my plate and move on.
Post by dr.girlfriend on Apr 2, 2015 8:39:06 GMT -5
I filed last night, and hope I don't get into trouble for being impatient! :^) Ugh, in 2013 DH changed jobs and in the transition accidentally overcontributed to his 401k (Just by $900). We had to get a distribution for that amount plus interest, and the distribution of $900 was taxable in 2013 and the interest ($50) was taxable in 2014. We claimed the $900 last year, but this year instead of sending us a 1099 for the $50, they sent us one for the whole amount (~$950). I confirmed with his HR that it was a mistake, and that we'll get a corrected 1099 with the correct amount, but I didn't want to delay filing so I filled that 1099 section out saying it was corrected and with the correct amount. Also, MM would stone me for the interest-free loan I'm giving the IRS...our refund was $16k this year. I think this year may be the year I actually adjust our withholdings and shunt that money straight to savings or investments rather than waiting for the refund and putting the whole chunk in at once.
Post by UnderProtest on Apr 2, 2015 8:40:04 GMT -5
We haven't filed yet. We have to wait for a K-1 and then, for the first time ever, we are having them done for us. I can't bribe the accountants with promises of a new camera or computer like I did with my husband. I'm a little nervous about the outcome as we moved and had some employment changes. I hope we don't owe.
We haven't filed yet. We have a 1031 exchange in process through an S-Corp, so the S-Corp has to be extended. Even though that doesn't affect our 1040 because of the deferred gain, I'm using it as an excuse to possibly extend my whole family (which I prepare).
But hey -- if a scammer is willing to file the taxes for me, s/he is welcome to do that! No good will come for them from that...
I wonder about that. I owe a decent amount. If someone filed under my SSN - what do they use? Just make up some stuff? I read about them "stealing refunds." So since I owe, does that make me safe? I don't know. I might be about to fall down that rabbit hole to find out...
I'm out of public practice, but still prepare a few returns on the side. This happened to a friend of mine that we just discovered. You are still responsible for paying your balance due on time even if someone has filed a false return with your information. In this case, the client was rejected from efiling because the social security number was used on another return so they have to mail in a paper return with a check for the balance due AND separately deal with the identity theft issue by sending in the form to the IRS with proof of identification. Someone got a $6,800 refund on their identity when in reality they owed $1,800.
We filed on Sunday. I finally got the last piece of paperwork last week, and Sunday was it. I did the taxes while DH worked on unpacking stuff.
We owed. Apparently came close enough to AMT that at one point in the process TT was warning us we'd be subject to it. *blink* That was a surprise. We owe, but less than last year, and we paid more in taxes this year than last, so there was no penalty. I requested a direct debit from my bank account on April 15 for the payment.
arch01 had a tax fraud issue a few years ago. Someone else filed with her H's SSN iirc. I'm sure she could tell us what happened. I just remembered it was a PITA.
Yep, you are correct! I don't wish it on anyone.
We always file in February-that year was late February. It was rejected immediately and we found out someone used DH's full name, DOB and SSN on a return. The IRS was actually quite helpful, but it was a long, painful process. Hours and hours on the phone with agents and a tax advocate. Tons of paperwork-including statements, records of employment, etc. Ultimately, we found out that someone in NY did the filing but we never heard what came of it. It held up our refund and also the tax stimulus check ($1200, 2008). We were literally down to days before we'd see $1200 disappear right before our eyes due to this asshole. Our return cleared in the first week of December and I think the deadline was December 15 in order to get the stimulus.
DH now has to get a PIN every year so we can file. My heart always starts racing every December when that notification gets mailed-then every time I open the mail I remember how I freak every year about a letter from the IRS
The first 3 years following the fraud we couldn't easily e-file, there were extra security steps involved. Now that the PINs are being more widely used, it's much easier.
I'm waiting on fucking Tax Act to find my already filed 1040 which is in an internet black hole and I need it so I can amend due to NC's 1099-G screw up this year. This CS experience alone is making me want to spend the extra money and go back to Turbo Tax next year. This is horrendous. 4 emails in and I have yet to get something other than a robot answer. I actually just responded bolding and capitalizing a good bit of my response. It's crazy.
We did ours, but are missing the official mortgage interest amount from our bank. It won't change the amount we owe, because we got hit with AMT, but we want the final document.
We owe a lot this year, even after deductions and adjusting withholdings last year, due to AMT
We're in no rush to pay it.
I'm jealous of the truly wealthy who are able to make donations, etc and get tax benefits. We're at the level where we make to much, yet don't make enough, to get tax benefit from charitable donations
Post by irene adler on Apr 2, 2015 11:15:20 GMT -5
We finished our stuff in mid February and have been "checking it over" for 6 weeks. We just need to press the foam file button. Dh was in denial that we owe (a marginal amount) for a long time until we finally went over your taxes line by line so I could point out exactly where the difference came up. Still haven't pressed file though :/
Post by awkwardpenguin on Apr 2, 2015 11:30:13 GMT -5
I'm about halfway done in TurboTax. Still have to deal with the capital gains, which is a PITA that I'm avoiding. We owe a substantial chunk in state taxes because Illinois taxes private disability income.
More importantly, we are coming up on the absolute deadline to amend our 2011 tax return. If I can figure it out, we'll be getting about $1200 back, but I got stuck last time I tried. I tried to find an accountant to do it, but all the ones I interviewed weren't familiar with our particular tax situation. Thanks DOMA.
We owed way more than expected, which I know is the MM way, but damn. It does not feel that way. Thankfully we are getting something back from one state due to our move.
And no, we haven't filed. Delinquents over here! But to,be fair we are waiting on DH's jerk former employer to send docs still! Foreign company for the win.
We owed way more than expected, which I know is the MM way, but damn. It does not feel that way. Thankfully we are getting something back from one state due to our move.
And no, we haven't filed. Delinquents over here! But to,be fair we are waiting on DH's jerk former employer to send docs still! Foreign company for the win.
genet313 -- did he make a move recently, or is this a former employer from way back?
You guys have had a lot of change recently. That makes it impossible to get taxes estimated correctly!
We owed way more than expected, which I know is the MM way, but damn. It does not feel that way. Thankfully we are getting something back from one state due to our move.
And no, we haven't filed. Delinquents over here! But to,be fair we are waiting on DH's jerk former employer to send docs still! Foreign company for the win.
genet313 -- did he make a move recently, or is this a former employer from way back?
You guys have had a lot of change recently. That makes it impossible to get taxes estimated correctly!
Oh no, recently. In 2014 DH got a new job, I got pregnant, we bought a house and we moved when I was 32 weeks. Which i do not recommend...to anyone ever. At least don't move from a 1br/1ba apartment to an older house in the burbs. Some days I barely recognize my life.
We haven't filed yet. We have to wait for a K-1 and then, for the first time ever, we are having them done for us. I can't bribe the accountants with promises of a new camera or computer like I did with my husband. I'm a little nervous about the outcome as we moved and had some employment changes. I hope we don't owe.
Wait?! Doing the family taxes earns a bribe?! I need to get on that!
We haven't filed yet. We have to wait for a K-1 and then, for the first time ever, we are having them done for us. I can't bribe the accountants with promises of a new camera or computer like I did with my husband. I'm a little nervous about the outcome as we moved and had some employment changes. I hope we don't owe.
Wait?! Doing the family taxes earns a bribe?! I need to get on that!
Yeah, I had to bribe him with something otherwise they would get done at midnight on April 15. It was well worth the bribe to not have to worry about him forgetting.
I wonder about that. I owe a decent amount. If someone filed under my SSN - what do they use? Just make up some stuff? I read about them "stealing refunds." So since I owe, does that make me safe? I don't know. I might be about to fall down that rabbit hole to find out...
I'm out of public practice, but still prepare a few returns on the side. This happened to a friend of mine that we just discovered. You are still responsible for paying your balance due on time even if someone has filed a false return with your information. In this case, the client was rejected from efiling because the social security number was used on another return so they have to mail in a paper return with a check for the balance due AND separately deal with the identity theft issue by sending in the form to the IRS with proof of identification. Someone got a $6,800 refund on their identity when in reality they owed $1,800.
It is so beyond my comprehension how f*cked up our government system is in which someone could get paid that much when in reality someone is to owe the government. I know it takes them several months to really link up your return with your W2 but with computers and technology how is this even possible and still happening?
It's only going to get worse in the future if they don't over hall the system but I know that's not gonna happen.....even though it would save millions (billions?).
Not filed. After finding out our over contribution to HSAs it took a while to get back a check for these contributions, and I wanted it in hand before filling. We got it Monday but I'm traveling all week so I'll finalize next weekend.
I think we will be getting $700 from the federal government, owe the state $200, and owe the local $900, so no big hurry for me.
How long did it take to get your check? H also over contributed bc I was confused. He just filed the paperwork to get his contributions back yesterday. I'd rather have my money in hand and everything finalized, but not sure that will happen before the 14th. I guess we could always amend if there ends up being an error.
Post by Velvetshady on Apr 2, 2015 21:16:15 GMT -5
I had my part done in Feb. It has taken DH ~3 weeks of his free time to sort out the ~8 inch pile of paperwork from his eBay selling (thankfully, he lost money overall). He should be finishing the actual taxes up tomorrow.He swears he'll be doing his tax spreadsheet weekly for this year (of course he's said that before...)
Not filed. After finding out our over contribution to HSAs it took a while to get back a check for these contributions, and I wanted it in hand before filling. We got it Monday but I'm traveling all week so I'll finalize next weekend.
I think we will be getting $700 from the federal government, owe the state $200, and owe the local $900, so no big hurry for me.
How long did it take to get your check? H also over contributed bc I was confused. He just filed the paperwork to get his contributions back yesterday. I'd rather have my money in hand and everything finalized, but not sure that will happen before the 14th. I guess we could always amend if there ends up being an error.
Wait a sec- we over contributed and they just asked us if we were going to spend it before April 15th. Which we did. Did I miss something?
I'm out of public practice, but still prepare a few returns on the side. This happened to a friend of mine that we just discovered. You are still responsible for paying your balance due on time even if someone has filed a false return with your information. In this case, the client was rejected from efiling because the social security number was used on another return so they have to mail in a paper return with a check for the balance due AND separately deal with the identity theft issue by sending in the form to the IRS with proof of identification. Someone got a $6,800 refund on their identity when in reality they owed $1,800.
It is so beyond my comprehension how f*cked up our government system is in which someone could get paid that much when in reality someone is to owe the government. I know it takes them several months to really link up your return with your W2 but with computers and technology how is this even possible and still happening?
It's only going to get worse in the future if they don't over hall the system but I know that's not gonna happen.....even though it would save millions (billions?).
You are right it is really ridiculous. And infuriating.
I guess part of the problem is that you file your W-2s with the Social Security Administration; nothing in that package goes to the IRS. At some point the SSA and IRS communicate and get your records matched up, but by then the thief is long gone with the refund.
How long did it take to get your check? H also over contributed bc I was confused. He just filed the paperwork to get his contributions back yesterday. I'd rather have my money in hand and everything finalized, but not sure that will happen before the 14th. I guess we could always amend if there ends up being an error.
Wait a sec- we over contributed and they just asked us if we were going to spend it before April 15th. Which we did. Did I miss something?
Probably not. We don't spend our HSA (or at least haven't had to yet). I just let it grow for when I'm an old fogie haha
I missed a couple HVAC service calls. Then I added mileage for rental house maintenance (which I haven't bothered with before). When I found the last receipt for $240, my state refund when up $250. That is seriously how fucked up the lose of exemptions was. It affected my fed tax bill by $40-ish. Expected bc it's marginal. But my state was dollar for dollar. WTF?!
Lesson here - check, double check, and triple check. I never thought I'd find that much.