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View Poll Results: What are you getting/owing the government for 2023?
I owe the government > $5000 3 12.00%
I owe the government > $1000 2 8.00%
I owe the government $101-999 2 8.00%
I nailed my withholding EXACTLY +/- $100 because I am a wizard 2 8.00%
I loaned the government $101-999 2 8.00%
I loaned the government > $1000 8 32.00%
I loaned the government > $5000 6 24.00%
Voters: 25. You may not vote on this poll

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Old 02-15-2024, 10:52 PM   #1
shikataganai
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OMGHi2U 2023 Tax Refund thread

looks like I forgot to do it last year and orndog stepped in

So how much money are you getting refunded from your tax return?

wait for teh pohl
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Old 02-15-2024, 11:01 PM   #2
shikataganai
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I loaned the govt a ton of money this prior tax year. sprung for audit protection via TurboTax as my section 179 deduction for the mountain house renovations may raise an eyebrow. it may or may not be legit.



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Old 02-15-2024, 11:02 PM   #3
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re child tax credits, they might be increased retroactively for 2023, but don't wait to file:

Quote:
"We may be able to start implementations (as) early as six to 12 weeks after passage, depending on the bill's final language, but taxpayers should not wait for this legislation to file their returns. We will take care of getting any additional refunds to taxpayers who have already filed. They won't need to take additional steps," [Internal Revenue Service Commissioner Danny] Werfel said in his opening remarks.
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Old 02-15-2024, 11:06 PM   #4
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also re filing timelines, today was when Betterment (and probably other brokerages?) turned on their auto-import of 1099-B and -DIV to TurboTax. this was what I was waiting for, so I filed today duly. the IRS electronically accepted my return something like 20 minutes after I filed, so I guess that's good?
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Old 02-16-2024, 12:37 AM   #5
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What's a refund?

I make too much and don't have enough deductions
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Old 02-16-2024, 04:19 AM   #6
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I got enough back for a nice mattress.
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Old 02-16-2024, 06:31 AM   #7
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Quote:
Originally Posted by Thumper23 View Post
What's a refund?

I make too much and don't have enough deductions
I play the "how close to 0 can we get" game every year. +/- $250 is my threshold as "close enough".
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Old 02-16-2024, 09:31 AM   #8
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Wife's salary (teacher) will fluctuate anywhere from $0-$10,000 extra each year. Pending if she works zero, part, or full time over the summer. So I withhold a bit extra in case she decides to go full time (usually doesn't decide until May). At which point I could adjust my withholding, but that's like 5 min. extra work. But then I'd have to remember to adjust withholding again in Jan. And that's like entering a calendar reminder and ANOTHER 5 min. of work.
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Old 02-16-2024, 10:47 AM   #9
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Quote:
Originally Posted by shikataganai View Post
I loaned the govt a ton of money this prior tax year. sprung for audit protection via TurboTax as my section 179 deduction for the mountain house renovations may raise an eyebrow. it may or may not be legit.



big deductions seem to do this.

Before I got married, my wife used to do her taxes at one of those "we will fill it out" places. They were making up numbers to bring in a big refund
She got audited and needed to come up with documentation as to why deduction x was used.
I helped her with that and cleared it out, but we went to the same place for them to refile it.
There was a line of people to go in for the same exact problem. Everyone was being audited for the same deduction.

I reported those bastards. Wonder if anything came out of it.
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Old 02-16-2024, 11:15 AM   #10
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Originally Posted by vapore0n View Post
big deductions seem to do this.

Before I got married, my wife used to do her taxes at one of those "we will fill it out" places. They were making up numbers to bring in a big refund
She got audited and needed to come up with documentation as to why deduction x was used.
I helped her with that and cleared it out, but we went to the same place for them to refile it.
There was a line of people to go in for the same exact problem. Everyone was being audited for the same deduction.

I reported those bastards. Wonder if anything came out of it.
what number were they making up? asking for a friend

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Old 02-16-2024, 11:17 AM   #11
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We usually pay. While my job's income is generally predictable, the income from our small biz is not.

MrsF4 files the requisite quarterly corp taxes. But by the end of the year when she starts totaling up expenses and deductions, sometimes we have to pay, sometimes we get some back. Typically less than +/-$2k.

We've been audited twice. But MrsF4 is Type A meticulous about record keeping. Both times we got audited, the end result was the IRS owed us money back after it was all sorted out.
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Old 02-16-2024, 01:13 PM   #12
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I'm guessing I probably owe. I usually wait until March to do them. Hard to believe we are almost there.
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Old 02-16-2024, 01:49 PM   #13
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took some mandated distributions from an inherited IRA this year, gonna owe quite a bit im afraid. I have no real idea how much or if I am liquid enough to pay comfortably. I should do better.
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Old 02-16-2024, 02:02 PM   #14
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Fed taxes deposited last week. We intentionally have to hedge our bets because the egg donor for my 16yo is bat **** crazy and takes the deduction every year, even tho court ordered to me.

I am so done with that particular pile of crazy.
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Old 02-16-2024, 06:05 PM   #15
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1 penny!
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Old 02-17-2024, 01:12 AM   #16
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I only withhold the same amount as the taxes I paid the year before so I owe just a little bit every year.
Looks like the ebay 1099k reporting is pushed back again so one less schedule to file.
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Old 02-17-2024, 07:48 PM   #17
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Quote:
Originally Posted by Danny5 View Post
Fed taxes deposited last week. We intentionally have to hedge our bets because the egg donor for my 16yo is bat **** crazy and takes the deduction every year, even tho court ordered to me.

I am so done with that particular pile of crazy.
That’s infuriating. You can’t claim it then explain at the audit?
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Old 02-18-2024, 03:20 PM   #18
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Got the call today. $14k refund from Uncle Sam and I owe the state $300. Yay!
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Old 02-18-2024, 04:50 PM   #19
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I love giving the government a nice fat loan...when I get my refund it's like hitting a nice scratchy!
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Old 02-19-2024, 01:03 PM   #20
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Quote:
Originally Posted by shikataganai View Post
That’s infuriating. You can’t claim it then explain at the audit?
What usually ends up happening...

We file without the dependent, getting a minor return, and then the IRS re-evaluates the situation, and refunds the dependent mid year. Usually around late July.
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Old 02-19-2024, 01:04 PM   #21
shikataganai
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Quote:
Originally Posted by Danny5 View Post
What usually ends up happening...

We file without the dependent, getting a minor return, and then the IRS re-evaluates the situation, and refunds the dependent mid year. Usually around late July.
Ok, that's not bad then. Still infuriating!
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Old 02-19-2024, 01:19 PM   #22
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I would file with dependent, and make the organ donor explain to the IRS how she is violating court orders.
How else to get the problem resolved?
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Old 02-19-2024, 04:50 PM   #23
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So we always file with the dependent, but the last 2 years we get denied. We then file without dependent, and submit a paper "amended" return.

I want the Feds to audit her, but in reality, I am sure that going after a teacher for 2k worth of fraud is barely a blip on their radar.
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Old 02-21-2024, 06:52 PM   #24
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I’ve done most of the taxes and should get about $5500 from fed and $150 from PA. I still don’t have my corporate tax forms from my old practice. And one of our HSA accounts doesn’t have their form; the site says it won’t be available until May. I’m not sure how that will work.
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Old 02-21-2024, 06:58 PM   #25
shikataganai
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Quote:
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I’ve done most of the taxes and should get about $5500 from fed and $150 from PA. I still don’t have my corporate tax forms from my old practice. And one of our HSA accounts doesn’t have their form; the site says it won’t be available until May. I’m not sure how that will work.
if you have a log of how much you withdrew (and contributed presumably the max family limit) then you can make up your own 1099-SA. same contact info as last year. just put in the withdrawal amount and check the box that said it was for qualified expenses or whatever the wording is
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