I was pretty damn surprised too. Like it didn't take four days and the deposit was being processed on Friday. I saw it posted yesterday. But it was a really nice surprise.
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Tax Return Season 2020 |OT| All your tax are belong to us
- Thread starter FliX
- Start date
Whew buddy - we owe a lot more than I expected - several thousand. I'm usually pretty close to "break even" by design; give or take like a grand. I'm not really sure what changed since last year. Same house. One kid. Same donations. Relatively same income. Same withholdings.
I even had a higher ratio of "bonuses" in my income, which by default are taxed higher on payroll which should help me out a bit... but it didn't.
Time to walk through this with my tax guy next week. Surely I'm just missing something.
I even had a higher ratio of "bonuses" in my income, which by default are taxed higher on payroll which should help me out a bit... but it didn't.
Time to walk through this with my tax guy next week. Surely I'm just missing something.
Sometimes withholdings fuck up. Maybe you lost the childcare credit? Also, your state income tax deduction might be limited for itemized deductions.
Anyway, yeah, you basically should ask your tax dude why.
Who knows. It's all over the place this year. I filed on the 2and, IRS accepted immediately. Still showing "received and being processed" today
Damn. Did you use the child credit? I didn't so I should have had mine by now. The website doesn't even have any info on my return. I'm stumped.. I'm debating on calling the person that did my taxes but I know I'm sure we can both guess what they'll say.
I did not but when I checked status the first few times it acted like I did because it stated if you did child credit it would take longer. The whole system seems glitchy.
Last year the IRS updated to my DD info 2 days after it actually hit my bank
So I've got a few questions.
Alberta, Canada just FYI.
Just trying to decide if I should hire someone to do my taxes this year.
I have used the free turbo tax the last few years myself.
Bought a house this year, so i can claim $5k for that I believe.
I've been living with my GF since July, would it be better to claim as common law?
My current return using turbo tax is a few thousand for myself, considering this should I go to a tax consultant to try and capture anything I don't know?
Alberta, Canada just FYI.
Just trying to decide if I should hire someone to do my taxes this year.
I have used the free turbo tax the last few years myself.
Bought a house this year, so i can claim $5k for that I believe.
I've been living with my GF since July, would it be better to claim as common law?
My current return using turbo tax is a few thousand for myself, considering this should I go to a tax consultant to try and capture anything I don't know?
It's crazy seeing some of you wait so long after submission. My tax returns are submitted to fed/state and my fed is usually accepted by the end of the same day (see: within the hour). My state tax returns are usually accepted in ~2days or under. Typically 24 hours.
Then I usually have a turnaround of about 3 days for my money to deposit straight into my account. Fucking done.
Wtf are y'all doing why it takes so long lol?
Then I usually have a turnaround of about 3 days for my money to deposit straight into my account. Fucking done.
Wtf are y'all doing why it takes so long lol?
EITC and/or ECC
Path Act makes you wait until after Feb 15th. IRS says it helps control fake deductions for those credits
IRSGO app finally updated this morning on mine. Return will be in my bank account by Wed
Free file literally just put up a few missing forms. It was impossible to submit before this without going paper copy or getting tax software. The later you submit, the longer the turnaround.
Happens almost every year. I figure they're punishing the average citizen for preparing their own taxes.
Not sure anyone can answer this but here we go: I see that for 2020 (US), there are no capital gains taxes if you make less than 40k. I live/work abroad, and let's say I claim 20k a year in wage income. Does that mean I can take up to 20k as income from capital gains? Or can I take more than that if I wanted and still pay no tax?
How do state tax withholdings work? We pretty much nailed our federal withholdings (got $77 back) but got $800 back from State. Any easy way to adjust this to get closer to zero? Do they just work off of what you withhold federally?
There should be state forms to fill out on the internets. Give yours a try and report to your HR if you want to change them.
They are separate, though most people in most states do fine with just doing the same thing as federal.
Whelp filed with H&R online since I finally got my Tax Statement from Morgan Stanley. 380 back at Federal and owed 150 at state =(. Next year I'll probably owe at both levels since I finally used up my Long Term Capital losses carryover this year.
So robinhood won't send me a 1099 because:
I was in the red for this big investment I made and I didn't buy anything this year. How fuck am I?
I was in the red for this big investment I made and I didn't buy anything this year. How fuck am I?
Each state has tax tables you should be able to find as a consumer.
I have the same date on my end. Out of curiosity, when did you file?
Did you sell the investment or are you still holding it? You only have to report realized gains or losses on your tax return. If you didn't sell it, you have nothing to report.
You get potentially three forms. 1099-DIV, which is the dividends you received, and 1099-B if you sold anything. You also get 1099-INT on your brokerage account but that's probably irrelevant. I got 3 cents in interest on my brokerage account in 2019, which of course rounds down to zero.
Thanks I only experience losses this year. How would I even report my losses?
He was asking if you still own the stock. If you still own the stock, you don't have any 'losses' on paper this year.
The hard part is knowing when you'll get to the next part... I've been waiting since the 12th for anything after accepted.
I haven't done my taxes since 2015. I kind of miss it. i was good at it. I don't have a lot of opportunities anymore to do anything im good at or can be proud of
OP
OP
What is stopping you from doing your taxes?
Become a CPA and do other people's taxes... 😉
i don't work. i'm disabled. i'm goind to die soon and i don't trust myself ot be safe going to school again for this cpa or whatever but thank you for the kind suggestion <#
OP
OP
I am truly sorry to hear that. Stay strong and do what you can to enjoy yourself.
OP
OP
Far be it for me to tell you what to to do.
Sounds like there are plenty of things worth enjoying.
Remember you are under friends here and we love you.
Anyone ever dealt with the issue of putting the wrong routing number on your e-file? I don't know how I did it, but I put the routing number for the Federal Reserve in Georgia as my routing number. Everything I have read online says the deposit should get rejected and IRS will cut me a check. I just cannot get it confirmed with the IRS that happened. I called my state IRS and that refund is still processing and they cannot change the info but says it takes a day after the deposit is rejected and they will also cut a check. This is super frustrating.
OP
OP
Just let the Federal Reserve in Georgia have this one, I am sure they can put the money to good use. 😉 /s
I would also just expect it to bounce and then receive a check.
Got my state but not my federal refund. Filed and accepted on the 19th of February.
😬💤😴
😬💤😴
Just got them done, going to be getting over $2100.
Also I'm glad I took the thread's advice and got them done with a local CPA instead of H&R Block. They were a lot cheaper and way more thorough.
Also I'm glad I took the thread's advice and got them done with a local CPA instead of H&R Block. They were a lot cheaper and way more thorough.
