Taxes are done!

[Brian]

I just got a letter from the IRS stating that they don't have my 2019 return and could I please send them a copy.

Thankfully, I still have my return in PDF format so it was a simple thing to print it up and stuff it into the return envelope they sent me. (It would have been to easy for them to provide a method to just email them my copy.)

I wonder if they will send me another tax return check? It was only a $45 return that year so it wouldn't be a windfall or anything.

[stessier]

Wait, that happens in year 17? I thought it was 18.

Having heard the cries from RM9 and Trent over the last few years, yes. The last time you can claim the credit is during your child's 16th year. Once they turn 17? Goodnight moon.

Great googly moogly!!!! Thanks to both of you for bringing this up!

Which legislative morons figured kids don't need support while still required to go to high school???

Ya I'm kind of anal about making sure I get my taxes as close to zero as possible so this was a big one to keep track of. The way they word it could also be super confusing, but I know I'm right sadly. What's 2,000 dollars buy you anyway? A banana?

Yeah, I checked and you're right. Figuring out how to fill out a new withholding form correctly is mind boggling. I think I did it, but it sure didn't make a lot of sense how they explain it. Guess I really didn't really want to spend that cost of living increase this year anyway.

I DID NOT do it correctly. This month my raise went into effect and I ended up with $1,000 less in take home than in March. I just used the online estimator and then redid the form. The estimator said based on my current withholdings, I'd be getting a $7,800 refund - which was not the target. I don't know what I did last time, but I knocked the expected refund down to $1,000, got new numbers on the form and am trying again. Can't wait to see what the end of May will bring.

[Pyperkub]

Checks mailed out, but forgot I'd need Mrs. Kub's Driver's License info to file electronically, so I'll need to do that when we get home from work tonight.

Also need to find some money to cover the checks mailed out (not sure if the payday direct deposit later this week will be in time) - I had a good chunk saved up to cover what I thought we'd owe, but I was off by a fair amount -oops!

Looks like I got away with it. Checks covered now before they were cashed! HooBoy.

And received an update W2 in the past week. Looks like I'm back to playing Madden TurboTax 2023 (for 2022) again this week

[Jaymann]

I got a tax refund check from the State of California today for $14, which is strange for two reasons:

I use my bank account for normal payments and refunds.

There was no explanation of what it was for.

My guess is there must have been checks distributed to all taxpayers, or at least certain classes.

[hitbyambulance]

i think i got an audit notice

[Scuzz]

i think i got an audit notice

I received one for my business, with no problems thankfully, but never one for my own taxes. I would think you would know what it is. If you have a tax preparer refer it to them but keep in the loop as to what is happening.

[Kraken]

Worse than expected: We owe the feds $2,400 and the state $700. This is mostly due to Wife's capital gain from selling the Lansing house, plus the underwithholding from her teaching jobs and the profit from my company.

Pretty big hit. Dammit.

Taxes are done!

Finally got our completed returns today. The payments that we made above were estimates, and we're getting most of that money back because the capital gain was smaller than expected. Our actual federal outlay after refund will only be $900 and we're ending up with a $300 net refund from the state, which is about as close to break-even as it's possible to get.

Our effective federal rate in 2022 was 12.4%, down from 12.6% in '21.

[em2nought]

Got a letter today from the IRS stating that someone may have used my social security number to gain employment in 2022, but it said the IRS wouldn't disclose the name of the individual. WTF?

[Kraken]

Got a letter today from the IRS stating that someone may have used my social security number to gain employment in 2022, but it said the IRS wouldn't disclose the name of the individual. WTF?

If you haven't set up your My Social Security account yet, do so post-haste. If some impersonator gets there before you do, you'll have to move heaven and earth to get your account back. Or so I was warned at the adult ed SS class that I took a few weeks ago.

[em2nought]

If you haven't set up your My Social Security account yet, do so post-haste. If some impersonator gets there before you do, you'll have to move heaven and earth to get your account back. Or so I was warned at the adult ed SS class that I took a few weeks ago.

Thanks SOOOOO much, just went and took care of it.

[Kraken]

It's almost July and our CPA hasn't e-filed our returns yet AFAIK, nor has he cashed our payment checks. IDK why; he didn't answer an email today. Going to need to find another new CPA next year.

[Octavious]

Got a letter today from the IRS stating that someone may have used my social security number to gain employment in 2022, but it said the IRS wouldn't disclose the name of the individual. WTF?

If you haven't set up your My Social Security account yet, do so post-haste. If some impersonator gets there before you do, you'll have to move heaven and earth to get your account back. Or so I was warned at the adult ed SS class that I took a few weeks ago.

Hmm I will certainly check that out this week. Pro tip I would do something similar with the USPS. My co worker had someone login as her into the USPS and start forwarding her mail. Which is ridiculous. So I immediately set my account up there and get informed mailing now which is free. Get an email each day saying what is being delivered with a screenshot. She had a credit card that was forwarded so she was lucky to catch it.

[Scuzz]

Got a letter today from the IRS stating that someone may have used my social security number to gain employment in 2022, but it said the IRS wouldn't disclose the name of the individual. WTF?

Why would they? Even the cheaters are covered by the non-disclosure rules. Privacy is a serious thing there. Be happy they caught the bum, unless it was you using your middle name.

Using your SSN for employment purposes isn’t nearly as bad as them using it to file a return.

[em2nought]

Got a letter today from the IRS stating that someone may have used my social security number to gain employment in 2022, but it said the IRS wouldn't disclose the name of the individual. WTF?

Why would they? Even the cheaters are covered by the non-disclosure rules. Privacy is a serious thing there. Be happy they caught the bum, unless it was you using your middle name.

Using your SSN for employment purposes isn’t nearly as bad as them using it to file a return.

It just kind of shocked, seemed like they were saying "Hey you're f'd, but we won't help you". I sure hope whoever doesn't file a return too (with any parts of my name). Maybe it was just somebody so stupid they messed up their own number. Normally my security with my info is very good, but some other people have records with my info, and they're sloppy as heck with that kind of thing. Not much I can do about that now, can't go back in time.

Get an email each day saying what is being delivered with a screenshot. She had a credit card that was forwarded so she was lucky to catch it.

That's good to know, can probably eventually save on pay for services from a mail forwarding service by getting that info free from USPS.

[Octavious]

Once you setup an account you can easily hold mail too. I held my mail while I was on vacation. I would never take the time to go to the office to do that.

[em2nought]

Once you setup an account you can easily hold mail too. I held my mail while I was on vacation. I would never take the time to go to the office to do that.

I tried using the USPS website to hold my mail once and it didn't work possibly due to my post office being in a backwater. When I went in to speak with them they told me to always come in to set up a hold. So it must kind of dependent on who you're dealing with. My postmaster must not be tech friendly.

[Octavious]

Mine is pretty terrible so I was surprised it worked out. I complained multiple times that the mailman was dropping my packages in the road and they just laughed and said "That's Lee!". They didn't laugh when I went online and filed formal complaints. Go figure.

[stessier]

I missed this earlier - the IRS is piloting a free tax filing system in 2024!

It still shocks me that anyone is against this.

[RMC]

I missed this earlier - the IRS is piloting a free tax filing system in 2024!

It still shocks me that anyone is against this.

Well, the 65 to 250 million a year price tag is one reason to be against it. I mean if it replaces the need to use a tax filling software(I doubt it), then okay. But it is already free to do a 1040-EZ, and if that is all that they are doing, seems like a lot of tax payer money for something already out there.

I have not looked into this at all, just read the article, so who knows.

[pr0ner]

Wake me when the government takes all the info my employer, bank, and investments send them, and then they send me an almost completed form with blanks for some extra deductions and a rough estimate of what I owe and what they owe me.

[youngsingle]

spam removed

[Kraken]

Thanks, Mr. Bot, now I'm worrying about taxes again. Sometimes I envy the poor.

I sent in a 1040ES last quarter because Wife is teaching again (and that withholding is way too low) and we're earning mucho interest on the down payment on our next house, which is hanging out in savings with a big "spend me" sign taped to its butt. I'm about to get my first SS check this month, so that's gonna require another, bigger estimated payment in Q4. At this point I'm just sending the IRS all my money so they won't smite me in April.

[Scuzz]

I missed this earlier - the IRS is piloting a free tax filing system in 2024!

It still shocks me that anyone is against this.

Well, the 65 to 250 million a year price tag is one reason to be against it. I mean if it replaces the need to use a tax filling software(I doubt it), then okay. But it is already free to do a 1040-EZ, and if that is all that they are doing, seems like a lot of tax payer money for something already out there.

I have not looked into this at all, just read the article, so who knows.

The state of California has had free tax filing for most people for years. There is no reason the feds can’t do that as well. In the long run it might benefit the IRS by integrating it with their tax process software.

[Scuzz]

Thanks, Mr. Bot, now I'm worrying about taxes again. Sometimes I envy the poor.

I sent in a 1040ES last quarter because Wife is teaching again (and that withholding is way too low) and we're earning mucho interest on the down payment on our next house, which is hanging out in savings with a big "spend me" sign taped to its butt. I'm about to get my first SS check this month, so that's gonna require another, bigger estimated payment in Q4. At this point I'm just sending the IRS all my money so they won't smite me in April.

Depending upon the source of your other income (to be honest I don’t understand the formula) your SS may not be taxable. Mine wasn’t last year but might be this year.

[Kraken]

Thanks, Mr. Bot, now I'm worrying about taxes again. Sometimes I envy the poor.

I sent in a 1040ES last quarter because Wife is teaching again (and that withholding is way too low) and we're earning mucho interest on the down payment on our next house, which is hanging out in savings with a big "spend me" sign taped to its butt. I'm about to get my first SS check this month, so that's gonna require another, bigger estimated payment in Q4. At this point I'm just sending the IRS all my money so they won't smite me in April.

Depending upon the source of your other income (to be honest I don’t understand the formula) your SS may not be taxable. Mine wasn’t last year but might be this year.

I only know that it's "up to 85%" taxable, so I assume 85% of it will be taxed since I'm continuing to work normally.

[Scuzz]

Thanks, Mr. Bot, now I'm worrying about taxes again. Sometimes I envy the poor.

I sent in a 1040ES last quarter because Wife is teaching again (and that withholding is way too low) and we're earning mucho interest on the down payment on our next house, which is hanging out in savings with a big "spend me" sign taped to its butt. I'm about to get my first SS check this month, so that's gonna require another, bigger estimated payment in Q4. At this point I'm just sending the IRS all my money so they won't smite me in April.

Depending upon the source of your other income (to be honest I don’t understand the formula) your SS may not be taxable. Mine wasn’t last year but might be this year.

I only know that it's "up to 85%" taxable, so I assume 85% of it will be taxed since I'm continuing to work normally.

You can have withholding on SS.

[Kraken]

Thanks, Mr. Bot, now I'm worrying about taxes again. Sometimes I envy the poor.

I sent in a 1040ES last quarter because Wife is teaching again (and that withholding is way too low) and we're earning mucho interest on the down payment on our next house, which is hanging out in savings with a big "spend me" sign taped to its butt. I'm about to get my first SS check this month, so that's gonna require another, bigger estimated payment in Q4. At this point I'm just sending the IRS all my money so they won't smite me in April.

Depending upon the source of your other income (to be honest I don’t understand the formula) your SS may not be taxable. Mine wasn’t last year but might be this year.

I only know that it's "up to 85%" taxable, so I assume 85% of it will be taxed since I'm continuing to work normally.

You can have withholding on SS.

I would like that because making estimated payments is a nuisance. Yesterday they told me that my application was approved and I will receive many details in 10-15 days. Soon, all will be revealed.

[Octavious]

Already done with my taxes. We had a blip today in that my wife's w2 was showing to come in the mail yesterday and didn't arrive. Hopefully it shows up on Tuesday, but we froze all 3 of her credit accounts just in case. I was able to pull the forms from ADP so not a big deal and I wish they wouldn't mail it out. Maybe that can be requested? Her company is gone whatevers... It was a wacky year with her company closing so we have unemployment + her nice severance. They overtaxed that so at the end of the day we're getting 4K back. (Hence why I did the taxes so quick.)

Turbo Tax needs to really be slapped silly for how they build their site. There's so many places that try and make you pay for things that you shouldn't. Like when you go to get your refund and they try to get you to dump in into some program. And when you get a fed return if you want to pay using your return, but have a hidden 40 dollar fee. Thankfully I noticed before I checked out, but it was not clear at all that there would be a fee and 40 dollars? Seriously.. F them...

[Kraken]

Hah, I haven't even created my W-2 yet. Gotta remember to do that this week. It's a chore every year because once upon a time I messed up my account and couldn't log in. After an interminable wait for phone support, their tech couldn't get me in, either, nor could he delete the account so I could start over. Instead I created an employee (Wife) and gave her admin rights. So now, every year, Wife technically issues my W-2. But this year the feds came out with Login.gov. I have a login.gov account and hope that it won't screw up my already-flaky access.

Our CPA asked me to send him my company file early, but I still haven't closed out the year in Quickbooks. Gotta do that this week, too. Can't file our personal return until my business is done.

I'm thinking about trying to do our personal return myself for the first time in many years. We only had W-2 income last year (plus my K1 and Social Security) and our expenses weren't unusually complicated.

[coopasonic]

Already done with my taxes.

We don't have a single tax document in our hands yet. We'll likely have everything together and send them to the accountant by late Feb or early March.

[Octavious]

Her W2 came today. Whew... We don't have much to do as I fall under the standard deduction. Grab both w2 from adp. Get her unemployment from the state website and grab taxes paid from my mortgage site. Took me a whole hour to do everything. I wouldn't have been so motivated if I owed money lol.

[Blackhawk]

Both kids will have taxes this year. I haven't personally filed taxes in almost 20 years, so I'm not even remotely sure what the process is anymore.

[Punisher]

Don't have anything yet but i do have a question.
Is there any difference between filing married jointly or married separately?
Is there any benefit over the other?

[coopasonic]

Don't have anything yet but i do have a question.
Is there any difference between filing married jointly or married separately?
Is there any benefit over the other?

There can absolutely be a difference. Our accountant will run the numbers both ways and file whichever way gives us the advantage. Typically joint wins, but once in a while, 2021 was such a year, filing separately is advantageous.

[Isgrimnur]

Both kids will have taxes this year. I haven't personally filed taxes in almost 20 years, so I'm not even remotely sure what the process is anymore.

IRS Free File: Do your taxes for free

Guided tax preparation (for AGI $79,000 or less)
Let the software do the work

[Octavious]

Ya it's super easy to do most taxes. I probably should just be using free software as mine are so simple.

[Blackhawk]

The last time I personally filed it still involved going to the post office to pick up forms.

[Kraken]

Ya it's super easy to do most taxes. I probably should just be using free software as mine are so simple.

Ours are usually hella complicated, but last year was pretty straightforward. Thinking I might try to save a few hundred bucks this year and do it myself.

I uploaded my company file and bank statements to the CPA today, so the corporate return should be underway. That, I won't ever try to do myself. Still haven't issued my W-2. Maybe tomorrow.

[Octavious]

We just had 2 W2s the unemployment form and property taxes. It really can't get more simple since I don't even come close to being able to itemize anymore.

[Lassr]

Should get a nice refund this year. Since I got remarried and still having taxes taken out like I was single.

Plan is to use it to put Vinyl flooring down, replacing the laminate in the house now. And a trip to Disney and Universal for Star Wars and Harry Potter experiences.