• Light/Dark
  • Ever wanted an RSS feed of all your favorite gaming news sites? Go check out our new Gaming Headlines feed! Read more about it here.

Tax Return Season 2021 |OT| Pandemic Deduction Edition

Who would you like to have do your taxes and deal with the IRS?

  • John Wick

    Votes: 99 20.3%

  • Tony Stark

    Votes: 55 11.3%

  • The Vogons

    Votes: 17 3.5%

  • Agent 47

    Votes: 34 7.0%

  • Scrooge McDuck

    Votes: 140 28.7%

  • Doctor Doom

    Votes: 62 12.7%

  • Thor: The Dark World

    Votes: 80 16.4%
  • Total voters
    487
FliX

FliX

Master of the Reality Stone
Moderator
Oct 25, 2017
9,859
Metro Detroit
Tax Return Season 2018 |OT| Where giving the government interest-free loans is a point of pride
Tax Return Season 2019 |OT| Feeling a little SALTy
Tax Return Season 2020 |OT| All your tax are belong to us

Cw0yHVI.gif
It's that magical time of the year again.
As we bought a house I am somewhat excited to see what happens, expecting a nice return accordingly.
Now the long wait for all those letters from various institutions starts...
Where is my W2?


Some things to keep in mind this year
  • Recovery Rebate Credits
  • Tax brackets have changed
  • Many standard deductions have been increased
  • You can write off $300 of cash donations
  • Energy credit has fallen to 26%
  • Standard mileage rates have been reduced
  • more here
 
Last edited:
skeptem

skeptem

Member
Oct 25, 2017
5,745
This might be the first time we pay someone. Too many big moves and changes in our lives.
 
StopMakingSense

StopMakingSense

Member
Oct 25, 2017
10,714
FliX said:
It was in the linked article, I might well have misunderstood it though. Seems like it did Thanks for pointing it out.
Click to expand...
Click to shrink...
it's indeed worded confusingly, at the end they say "And if your stimulus check was more than your credit amount, you generally won't have to repay the difference to the IRS."
 
ContractHolder

ContractHolder

Jack of All Streams
Member
Oct 25, 2017
16,188
Anyone have any recommendations from the current set of IRS Free File partners? H&R Block pulled out this year, so I'm trying to find another service to use.
 
Last edited:
ConanEdogawa

ConanEdogawa

Member
Oct 31, 2017
1,082
I used Credit Karma last year, and am going to do so again this year. It was completely free, Federal and State.
 
ContractHolder

ContractHolder

Jack of All Streams
Member
Oct 25, 2017
16,188
Pikachu said:
This sounds like fake news, I still see free HR block everywhere
Click to expand...
Click to shrink...

I saw that there is a free option still for H&R Block, but I specifically got an email from them saying they were not a part of the free file partner program this year.

I'm not sure what the difference between the two programs were to be honest if they still have an option for you to file for free. But the method I used to sign up is not on the IRS website from last year.
 
ContractHolder

ContractHolder

Jack of All Streams
Member
Oct 25, 2017
16,188
GavinGT said:
I thought they were legally obligated to provide a free option.
Click to expand...
Click to shrink...

They still have a free option but... Alright, let me copy the text from the e-mail (other than my name) for additional context.

"Hi [Name],

This past year hasn't been easy on anyone.

We could all use a little extra help right now. Let H&R Block help make your taxes easier. We'll get you your maximum refund, guaranteed.

Last year you filed with H&R Block through an IRS program. We're no longer a part of that program. But we still offer many safe and easy ways to file your taxes. See our filing options

Visit the IRS website for information about their current program.

Thanks for trusting us with your taxes and we look forward to working with you again this year. "

I'm mainly referring to this H&R Block through an IRS Program that was occuring last year that's not the case this year.
 
Qrusher14242

Qrusher14242

Member
Oct 29, 2017
573
Netherscourge said:
Still waiting for 1099-Gs for the unemployment/covid benefits.
Click to expand...
Click to shrink...
Same. It seems like i may owe some federal this year. I had EDD take out taxes every week, but i don't think it took it out of the PUEC money ($600/week).

Also not sure if the LWA payments were taxed or needed to be. I also received the EIDL advance grant and i believe the latest Stimulus bill signed made it so that is not taxable. But i'll most likely end up owing a bunch for the PUEC i received.
 
DJConvoy

DJConvoy

Member
Jan 8, 2021
887
To use TurboTax or not this year. :D

I will probably have to as the missus was furloughed for two months and collected unemployment. Guess I'll need that 1099-G.
 
akilshohen

akilshohen

Member
Dec 8, 2017
1,307
Been taking a $100 roundtrip uber to the OC to get my taxes done.... I always get a refund as if I had a kid and I'm single.
 

GavinGT

Member
Sep 28, 2020
1,211
ContractHolder said:
They still have a free option but... Alright, let me copy the text from the e-mail (other than my name) for additional context.

"Hi [Name],

This past year hasn't been easy on anyone.

We could all use a little extra help right now. Let H&R Block help make your taxes easier. We'll get you your maximum refund, guaranteed.

Last year you filed with H&R Block through an IRS program. We're no longer a part of that program. But we still offer many safe and easy ways to file your taxes. See our filing options

Visit the IRS website for information about their current program.

Thanks for trusting us with your taxes and we look forward to working with you again this year. "

I'm mainly referring to this H&R Block through an IRS Program that was occuring last year that's not the case this year.
Click to expand...
Click to shrink...

Dang, I thought the Free File Alliance was an obligatory program. Turns out you can just leave if you want:

https://news.bloombergtax.com/daily...ile-partners-moving-forward-without-h-r-block
 
Javaman

Javaman

Member
Oct 31, 2017
630
I used to use Taxact all the time but they now (as of a year or two ago) charge form doing a HSA form. I've since switched to Credit Karma and hadn't looked back.
 
Cilidra

Cilidra

A friend is worth more than a million Venezuelan$
Member
Oct 25, 2017
1,488
Ottawa
Tax season will be brutal in Canada. We had nice COVID relief for those who's job was put on hold (2000$ per month) BUT they warned everyone that this was a taxable amount AND that there were not tax withdrawal done. Lots of people did act as such (people are used to have their paycheck being deducted as interim tax payments) SO for a lot of people, there will be a hefty tax bill coming. Most people have a small return usually, so many will be shocked.
My wife did receive the government help for 4 months (8000$) plus we sold our (small) rental building that we owned for 15 years so we have a big capital gain tax bill too. It sure will be a large bill this year.
We set the money aside but I know that a lot of our fellow citizen did not plan on this. It will be very hard on many.
 
Xion385

Xion385

The Fallen
Oct 27, 2017
959
Need some advice:

I'm a new home owner. I've been doing my taxes through simple taxes on Turbo Tax. I'm single and don't have any assets besides the house. should I get with a CPA, or am I just simply overthinking this and keep doing my taxes through TurboTax.
 
zerocalories

zerocalories

Member
Oct 28, 2017
3,231
California
Xion385 said:
Need some advice:

I'm a new home owner. I've been doing my taxes through simple taxes on Turbo Tax. I'm single and don't have any assets besides the house. should I get with a CPA, or am I just simply overthinking this and keep doing my taxes through TurboTax.
Click to expand...
Click to shrink...

same, except I live here with my fiancée, she's not on the title or loan though
 
Einbroch

Einbroch

Member
Oct 25, 2017
17,969
Xion385 said:
Need some advice:

I'm a new home owner. I've been doing my taxes through simple taxes on Turbo Tax. I'm single and don't have any assets besides the house. should I get with a CPA, or am I just simply overthinking this and keep doing my taxes through TurboTax.
Click to expand...
Click to shrink...
You should be fine on your own. A lot of the tools will ask you questions like "did you buy a new house?" and tell you what to put in what box. I don't want to talk you into anything you're not comfortable with, but it really was pretty easy with all the assistance these tools provide.
 
Surakian

Surakian

Avenger
Oct 27, 2017
10,807
Cilidra said:
Tax season will be brutal in Canada. We had nice COVID relief for those who's job was put on hold (2000$ per month) BUT they warned everyone that this was a taxable amount AND that there were not tax withdrawal done. Lots of people did act as such (people are used to have their paycheck being deducted as interim tax payments) SO for a lot of people, there will be a hefty tax bill coming. Most people have a small return usually, so many will be shocked.
My wife did receive the government help for 4 months (8000$) plus we sold our (small) rental building that we owned for 15 years so we have a big capital gain tax bill too. It sure will be a large bill this year.
We set the money aside but I know that a lot of our fellow citizen did not plan on this. It will be very hard on many.
Click to expand...
Click to shrink...

I really don't understand why your government didn't tax the early payments. I know they did begin taxing them later on but man, that money was for helping people who couldn't afford to support themselves. A year later and COVID is still a big issue, so where do they think people are going to come up with the money to pay these taxes back? lol
 
Cilidra

Cilidra

A friend is worth more than a million Venezuelan$
Member
Oct 25, 2017
1,488
Ottawa
Surakian said:
I really don't understand why your government didn't tax the early payments. I know they did begin taxing them later on but man, that money was for helping people who couldn't afford to support themselves. A year later and COVID is still a big issue, so where do they think people are going to come up with the money to pay these taxes back? lol
Click to expand...
Click to shrink...
Totally agree. They should have done at least the standard deduction. The liberal government will lose a lot of the goodwill they got from the subsidy. Most people are pretty bad at tax planning, that's why payroll deductions are there.
 

Hedge

Member
Oct 26, 2017
407
Xion385 said:
Need some advice:

I'm a new home owner. I've been doing my taxes through simple taxes on Turbo Tax. I'm single and don't have any assets besides the house. should I get with a CPA, or am I just simply overthinking this and keep doing my taxes through TurboTax.
Click to expand...
Click to shrink...

Do what makes you most comfortable but the fact that you now own a home probably won't change your tax situation much. With the much higher standard deduction, you probably won't need to itemize (mortgage interest and property taxes). If you use a tax software they will walk you through it.
 
VirtuaModel

VirtuaModel

Avenger
Oct 25, 2017
1,711
I have been using Credit Karma since they first started offering the service. Completely free for federal and state. It's been very easy to use and we get refunds fast.

My wife and I do not have children. Is there any point in waiting to file?
 
Darren Lamb

Darren Lamb

Member
Dec 1, 2017
2,831
Just waiting on my W-2 before I file. Not sure if this year's HR Block sucks more per comments ITT, but I was going to try it after years of HR Block's Deluxe version. I submitted my partner's last year via the free version and felt stupid for spending ~40+ a year or whatever the software sale price + state efile cost is

Turbo Tax's free tax refund calculation said I'd get 1200 from my federal return, hope that's true!! I didn't qualify for the stimulus checks but my 403b contributions should get me into the range to get a portion of the first stimulus credit.
 
TheWorthyEdge

TheWorthyEdge

Member
Oct 25, 2017
6,811
Okay!

Questions regarding stimulus and the like. I've asked this before but I guess I just want some reaffirmation.

I was claimed as a dependent last year and thus didn't receive any stimulus. If I claim as soon as I can as an independent before my parents file their claim, will I still receive the stimulus package or will I have to wait until they file theirs?
 

Deleted member 39374

Banned
Feb 1, 2018
5,083
Can't wait to owe money again to a shithole government that did nothing to protect me and my family from a pandemic, and spends all the money on killing black and brown people home and abroad instead along with turtle's pension

We need to reboot this shit
 
Pet

Pet

More helpful than the IRS
The Fallen
Oct 25, 2017
7,070
SoCal
TheWorthyEdge said:
Okay!

Questions regarding stimulus and the like. I've asked this before but I guess I just want some reaffirmation.

I was claimed as a dependent last year and thus didn't receive any stimulus. If I claim as soon as I can as an independent before my parents file their claim, will I still receive the stimulus package or will I have to wait until they file theirs?
Click to expand...
Click to shrink...

Uh, you want to make sure you and your parents figure out the filing status of you before either one of you file your taxes.

As long as you and your parents agree that you're not a dependent this year, then it doesn't matter when you or when they file their taxes.



A lot of dependents are magically not dependents anymore in 2020, I noticed. lol
 
vypek

vypek

Member
Oct 25, 2017
12,531
My filing is still as simple as ever but I'm waiting on 3 more documents. W2, student loan tax info, second student loan tax info. Only have the info from one bank so far.
 
Cipherr

Cipherr

Member
Oct 26, 2017
13,420
I think we may file early this year. We never do that; but it might be time for a change with us all stuck in the house. We have both our W2's now, but I hear the date has been pushed?

But yeah an early filing might be a good idea this year considering how far behind they are. Will probably take forever.
 
TheWorthyEdge

TheWorthyEdge

Member
Oct 25, 2017
6,811
Pet said:
Uh, you want to make sure you and your parents figure out the filing status of you before either one of you file your taxes.

As long as you and your parents agree that you're not a dependent this year, then it doesn't matter when you or when they file their taxes.



A lot of dependents are magically not dependents anymore in 2020, I noticed. lol
Click to expand...
Click to shrink...

Awesome. I talked to my parents not to claim me sooooooooo...they better fucking not. What does everyone use for free tax filing?
 
GoldenEye 007

GoldenEye 007

Roll Tide, Y'all!
Banned
Oct 25, 2017
13,833
Texas
Just waiting on my wife's employer to release their W2s and I should be mostly good to file. The confusion of the 2017 tax law fucked us with withholding calculators out of whack in 2018. Ended up owing a shitton and got hit with penalties.

2019 I think we got a small refund but also wife had a big job change in August. So for 2020 we went overly cautious and just did withholding as single filers. So we should get a larger one this year. Already switched it back to married filing jointly for 2021 and should see a much smaller refund or even none at all next year.
 
You must log in or register to reply here.