Poll: How much is your tax refund?

[Chaotic42]

Where are your refunds? We got ours with our last checks.

 

[kranky]

There's nothing wrong with being happy about getting a check in the mail (or direct deposit, even better) but I work with people who seem to think a bigger refund = smarter about taxes. Some of these people are the same ones who believe that once you work a certain amount of overtime, your take-home pay actually gets smaller because of higher taxes.

I used to try to explain there is no +100% tax bracket, nor does a big refund mean you paid less taxes, but they tend to get easily distracted if something shiny is nearby. So I don't bother any more.

 

[dullard]

I don't understand why everyone waits on their W-2. You already know exactly what numbers are on it, so you can fill out your taxes without them to know how much you are getting back/paying in. Then wait until you get your W-2 and mail in your taxes that day.

I'll never get a tax refund since I don't give the government a free loan. I'm paying in about $75 or so.

 

[brtspears2]

I just did the 1040EZ form, took me all of 5 minutes.

Refund $692.

 

[Feldenak]

Originally posted by: dullard
I don't understand why everyone waits on their W-2. You already know exactly what numbers are on it, so you can fill out your taxes without them to know how much you are getting back/paying in. Then wait until you get your W-2 and mail in your taxes that day.

I'll never get a tax refund since I don't give the government a free loan. I'm paying in about $75 or so.

It's not just my W-2 that I'm waiting on. I need the form from the university listing how much tuition I can deduct.

 

[Chaotic42]

Originally posted by: kranky
There's nothing wrong with being happy about getting a check in the mail (or direct deposit, even better) but I work with people who seem to think a bigger refund = smarter about taxes. Some of these people are the same ones who believe that once you work a certain amount of overtime, your take-home pay actually gets smaller because of higher taxes.

I used to try to explain there is no +100% tax bracket, nor does a big refund mean you paid less taxes, but they tend to get easily distracted if something shiny is nearby. So I don't bother any more.

I'm happy because my job witheld far too few taxes last year and I had to pay. This year it's a nice bonus at just the right time.

 

[Chaotic42]

Originally posted by: kranky
There's nothing wrong with being happy about getting a check in the mail (or direct deposit, even better) but I work with people who seem to think a bigger refund = smarter about taxes. Some of these people are the same ones who believe that once you work a certain amount of overtime, your take-home pay actually gets smaller because of higher taxes.

I used to try to explain there is no +100% tax bracket, nor does a big refund mean you paid less taxes, but they tend to get easily distracted if something shiny is nearby. So I don't bother any more.

I'm happy because my job witheld far too few taxes last year and I had to pay. This year it's a nice bonus at just the right time.

 

[slycat]

other than hrblock...what are all the other tax websites?...where u can do and submit?
i remember there are some around $10...

 

[zbalat]

Originally posted by: dullard
I don't understand why everyone waits on their W-2. You already know exactly what numbers are on it, so you can fill out your taxes without them to know how much you are getting back/paying in. Then wait until you get your W-2 and mail in your taxes that day.

I'll never get a tax refund since I don't give the government a free loan. I'm paying in about $75 or so.

I always pay in as well. Last year it was about $1100.00 this year it will be more like $150.00. I am not an interst free lender.

 

[dullard]

Originally posted by: Feldenak
It's not just my W-2 that I'm waiting on. I need the form from the university listing how much tuition I can deduct.

The university form is not an official, legal tax document. Thus it should not be used for filling out your taxes. You must, legally, add up the expenses yourself and check that each one is a proper deduction. The university forms are simply there to show what the typical person can deduct. Basically I'm saying you already should know how much you spent at the University in tuition and fees (books, housing, and insurance don't count in most situations) - then subtract your grants and scholarships you got. No need to wait for the university. If you are getting money back, it pays to get everything filled out as soon as possible - then staple in your W-2s and other forms you are waiting for and mail it in immediately. You should be able to get your refund by early Feb if you do that. However if you wait for all the forms and then take the time to fill out all the paperwork you are looking at late Feb/early March for your money. I'm just trying to encourage people to get their money as soon as possible.

 

[StageLeft]

Originally posted by: dullard
I don't understand why everyone waits on their W-2. You already know exactly what numbers are on it, so you can fill out your taxes without them to know how much you are getting back/paying in. Then wait until you get your W-2 and mail in your taxes that day.

I'll never get a tax refund since I don't give the government a free loan. I'm paying in about $75 or so.

Habit, but by God you're right. I'd simply never thought of doing them earlier. I think I'll do them this weekend then, since I do have my paystubs I don't have certain info like company tax number (I seem to recall that being something you need) and things of that nature, and since I do online I am not sure I can get through it without the w2's information, but I'll see...

Unfortunately this year I have come to realize that I won't be able to e-file, because I have some documents I need sent in with my 1040 and other forms and instead of sending them in later and suffering a potential mix-up, I'll just mail the whole lot.

 

[HeroOfPellinor]

Originally posted by: slycat
other than hrblock...what are all the other tax websites?...where u can do and submit?
i remember there are some around $10...

Turbotax

I've used this the past few years. This year, I need an accountant.

 

[Feldenak]

Originally posted by: dullard

Originally posted by: Feldenak
It's not just my W-2 that I'm waiting on. I need the form from the university listing how much tuition I can deduct.

The university form is not an official, legal tax document. Thus it should not be used for filling out your taxes. You must, legally, add up the expenses yourself and check that each one is a proper deduction. The university forms are simply there to show what the typical person can deduct. Basically I'm saying you already should know how much you spent at the University in tuition and fees (books, housing, and insurance don't count in most situations) - then subtract your grants and scholarships you got. No need to wait for the university. If you are getting money back, it pays to get everything filled out as soon as possible - then staple in your W-2s and other forms you are waiting for and mail it in immediately. You should be able to get your refund by early Feb if you do that. However if you wait for all the forms and then take the time to fill out all the paperwork you are looking at late Feb/early March for your money. I'm just trying to encourage people to get their money as soon as possible.

While I agree that getting your money as soon as possible is good. I'll have all my info forms by the end of Jan and if I efile I'll have my money by mid-Feb.

 

[mithrandir2001]

The numbers aren't wholly finalized yet but I expect:

Federal refund: $1775
State owed: $2 (yea, a PITA to have file)
Local owed: $750

Net $1000. I'm not spending it...it's going into my Vanguard "piggy bank".

 

[HiTek21]

Federal $850
State $90

 

[Feldenak]

I'm getting a little over $900 back from the Feds. I haven't filed state yet...I'll do that sometime this month or next(whenever I get around to it).

 

[Atrail]

$1,400 refund

Texas, no state income tax