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sonny
02-22-2012, 03:09 PM
Are you like me, friends?

Are you one of the millions of Americans who filed their taxes early this year only to discover its going to be a long wait? Due to an apparent system glitch and the awesome idea of updating security software at tax season, I am still waiting on my refund.

Initially, i was told that my refund would get deposited on the 11th of Feb then it changed to the 15th, then the 26th then they said they had no record of my tax return, now they're telling me it's going to be in March.

Anybody else having this kind of fun?

medford
02-22-2012, 03:21 PM
I think so, I've filed federally, saw some notice about delay in refunds, but haven't paid attention. I think I was originally due this week, perhaps next. I guess if its mid march I'll survive. Just wish that the times in the past when I've owed money at season's end, and have delayed filing until the begining of april to hold on to that money as long as possible, that there would have been a glich to allow me to hold on to the money uncle sam tells me I owe them a few weeks longer.

so reading this prompted me to actually check. Last time I tried the site wasn't working for whatever reason. It says me check is scheduled to be mailed today, which is about the time frame that H&R block told me they'd send it out when I filed. It says if I don't see it by the 21st of March to file a report or something. Perhaps if you check again your check is in the mail. Or are you having it directly deposited? Perhaps that's allowed mine to role on the original time frame. Didn't feel like paying the extra fee to have it directly deposited, I'm cheap like that.

code
02-22-2012, 05:03 PM
I guess I got lucky.

I filled 2/11/2012 and got my refund yesterday 2/21/2012. Did it through turbo tax.

Eric_the_Red
02-22-2012, 06:02 PM
I used TurboTax to e-file on 2/5, and my refund is scheduled to be direct deposited tomorrow hopefully.

Sean_CaseyRules
02-23-2012, 12:44 AM
I did Turbo Tax, Jan 31st. Got my refund Feb 15th. Sounds like I got lucky.

wolfboy
02-23-2012, 06:43 AM
What is this refund you speak of?

cumberlandreds
02-23-2012, 07:40 AM
I did mine about Jan 31. No problems for me. I used Tax Slayer. My refund was very small so that may have had something to do with it too.

Roy Tucker
02-23-2012, 08:03 AM
I hate taxes.

OldRightHander
02-23-2012, 10:39 AM
Taxes are a pain these days. I don't even know what a refund is. I gave those up when I became self employed, but I think soon I'm going to make myself an employee of my corporation and take taxes out of that pay to make the burden a little easier come filing time next year.

Jefferson24
02-23-2012, 11:49 AM
I got over $6,000 back this year. My wife and I had them hold out extra each check and we also had over $16,000 in medical expenses so were were able to itemize and take a larger deduction. Usually we only get about $1,000 on the federal return.

Paid off my car and both credit cards.

My return took about two weeks to process, got it last week. Still waiting on the state return though.

reds1869
02-23-2012, 01:25 PM
We are getting a refund this year. One of the benefits of my free lance income decreasing was that my wife's withholding completely covered the tax due. One of the downsides is that I didn't make any money. Thankfully I'm going back to the world of the traditionally employed on Tuesday and will not have to worry about 1099s much longer.

oneupper
02-25-2012, 09:20 AM
Finished my taxes yesterday. Did my company's a week ago.

Used to be that brokers had until Jan 31 to deliver 1099-INT, B's and DIVs. Now its Feb 15 and much more complicated due to the phase-in of cost basis reporting (brokers will now report the original cost of your investments to the IRS, and not only the sales of them).
For those who have investments, things got more complicated.

Hopefully with some better planning, I can reduce my tax bill next year.

JaxRed
02-25-2012, 10:17 PM
Bought 2 rental properties this year. First time I've never been able to do my own taxes. That depreciation stuff gets deep.

oneupper
02-26-2012, 11:04 AM
Bought 2 rental properties this year. First time I've never been able to do my own taxes. That depreciation stuff gets deep.

Wait till you sell them. :eek:

oneupper
02-26-2012, 11:08 AM
Taxes are a pain these days. I don't even know what a refund is. I gave those up when I became self employed, but I think soon I'm going to make myself an employee of my corporation and take taxes out of that pay to make the burden a little easier come filing time next year.

You should be doing this. And clearly separating "company" and personal expenses.
Plus putting away money in a company retirement plan (401k, DBP, Simple, etc). You get to put more away that way.
The individual IRAs are only like 5000 a year.

sonny
02-27-2012, 10:11 AM
Day 28. Still nothing.

Slyder
02-29-2012, 12:56 AM
The taxes really ticked me off this year. I went back to work toward an accounting/management degree and paid for school myself thinking I could write off the tuition and get a bigger return... welp color me unamused when I find out because I got one degree already pretty much screws me out of most of the returnable income. And by being responsible I screwed myself. My earned income wasn't enough to really get anything back on credits so I paid basically $6,000 dollars out of pocket for school to get $200 back... Needless to say I'm going to play the game save my money and just take loans out for my final year and write off the interest on those loans later.

sonny
02-29-2012, 01:57 PM
Finally got it. My coworker who filed a little bit before me is still waiting. Blech

Boston Red
03-01-2012, 01:27 AM
.

traderumor
03-02-2012, 02:12 PM
The taxes really ticked me off this year. I went back to work toward an accounting/management degree and paid for school myself thinking I could write off the tuition and get a bigger return... welp color me unamused when I find out because I got one degree already pretty much screws me out of most of the returnable income. And by being responsible I screwed myself. My earned income wasn't enough to really get anything back on credits so I paid basically $6,000 dollars out of pocket for school to get $200 back... Needless to say I'm going to play the game save my money and just take loans out for my final year and write off the interest on those loans later.If you have the money to pay the tuition, you'd be better off not taking a loan where you pay interest to get a deduction. You are going to pay more in interest than you save in taxes.

Slyder
03-04-2012, 11:55 PM
If you have the money to pay the tuition, you'd be better off not taking a loan where you pay interest to get a deduction. You are going to pay more in interest than you save in taxes.

It wouldn't be anything major but by taking the "small loan" I wouldn't have to worry about killing myself between school and having to work to pay for it. I know I wouldn't get alot back but it would just take that one issue and put it off until another day and keep some money in the bank.

paulrichjr
03-05-2012, 12:05 AM
You should be doing this. And clearly separating "company" and personal expenses.
Plus putting away money in a company retirement plan (401k, DBP, Simple, etc). You get to put more away that way.
The individual IRAs are only like 5000 a year.

You don't have to go through a corporation to so a business retirement plan. A self employed individual can do basically anything. In fact I believe I've seen him say he has no actual employees which means he can do a Solo 401k plan. (no 5500 due for years - 50k limit)

SEPs and SIMPLEs can also be done but with no employees there isn't a real good reason to do a SIMPLE.

oneupper
03-05-2012, 10:24 AM
You don't have to go through a corporation to so a business retirement plan. A self employed individual can do basically anything. In fact I believe I've seen him say he has no actual employees which means he can do a Solo 401k plan. (no 5500 due for years - 50k limit)

SEPs and SIMPLEs can also be done but with no employees there isn't a real good reason to do a SIMPLE.

Yep. I was under the impression that he already had a company and simply wasn't pulling down a salary, to avoid the whole payroll paperwork issue (which you can do easily online these days).

If ORH doesn't have a corp, he probably should have one to limit liabilities. He's in the transportation business.

Tony Cloninger
03-16-2012, 09:04 AM
At least you don't have to pay out.

Made more money this year with bonuses and OT. Filed for more exemptions to get more money during the year......equals dreading having to file at all and waiting as long as possible to do so.

wolfboy
03-16-2012, 09:48 AM
At least you don't have to pay out.

Made more money this year with bonuses and OT. Filed for more exemptions to get more money during the year......equals dreading having to file at all and waiting as long as possible to do so.

The fed. govt. will be receiving a nice bonus check from me this year.

Tony Cloninger
03-16-2012, 10:30 AM
The fed. govt. will be receiving a nice bonus check from me this year.

How much do you have to usually give in donations (Which I usually do with clothes) in order for it to really make nay impact?