That train left the station long ago. As soon as the 1099’s were here, I was on the case. I like to do them manually and then computerize the form. I want to know how all the calculations are made. The refunds from two states were deposited early last month. If I had owed money, I would be filing next week some time. I have never let that 4/15 date bother me.
Yes and it was mailed on the 12th, today the litttle fucker was returned to sender for 44cent postage due, there was a 78 cent usps pitney bowes stamp on it, how can it be postage due?
I’ve had a rough few months, so I’m only doing them now, and I also do my mother’s. I was fortunate enough to have major non-covered medical expenses last year, so our refund will be unusually large.
Painful? What, that you get $8400 in a tax refund, or that you owe $8400? I ask, because tax refunds aren’t normally painful, but if you owe $8400, you’re also paying an additional penalty for underwithholding or for underestimating your quarterly payments.
One time, and one time only, I learned way back in the 80’s, and at that time, the threshhold was only a lousy $500. Might be higher now, but it wouldn’t be over $1000.
When I’m owed a refund, it really doesn’t matter when I file. Although you have to be careful; you can lose track. Then it’s harder to follow up. Let it go too long, and there is a crime for Failure to File, even if you don’t owe anything (rarely enforced). Basically, there’s nothing to prosecute or penalize since you don’t owe any tax. They already have it; it’s just not been accounted for. I had to file 3 years at once just to catch up (and still got the refund I’d calculated) with no penalty.
It’s when you do owe tax that it can screw you big time. There’s the initial penalty of 25% of the tax owed, even if it’s just one day late, and then 2% a month or any part (thereof) afterward.
My accountant had to file an amended return for us for a deduction on our boat that he neglected to take two years ago. Unlike our standard returns, which were filed electronically, and from which our refunds were deposited directly into our checking account the following week, the amended return had to be sent in the mail and I have to wait for the additional $1100 refund, which is supposed to arrive in the mail (so 1990s) in another two to three weeks.
What she said. 
Yep, I am single with no kids. Also, I was missing one interest income form at the time but we just called the credit union from the CPA’s office and got the figure from them. The paperless route has its advantages.
I’ve started, but not finished them. I have the weekend. The government owes me. I’m not worried about it.
The government of Canadia is refunding me money. Sadly, this is the last year I’m eligible for post-graduate tax credits. It was awesome while it lasted though!
shit, I had mine done in February.
I blew off the quarterly payments this year, and I owed a lot. The penalty for under withholding over $100,000 was only $1344. I wouldn’t recommend this action, but it’s a pretty minor slap on the wrist.
Canadian taxes not due till the 30th (no extension for weekends). I finished mine last weekend. I still have to do a US tax return, but pay no taxes and it is not due till June 15.
The Australian tax year runs from 1 July to 30 June, so I won’t be lodging a tax return for at least another three months.
Not to be pedantic (okay, I guess I am, actually), but if $8400 is painful, I’d think that $1344 of it ranks up there as more than a minor nuisance. Besides, I can think of lots of stuff I’d rather spend $1300 on, than a gift to Uncle Sam. But then, I figure you’re probably being facetious when remarking about the “pain.”
Sort of like Star Trek…
“Damage, Scotty?”
“No, thanks, Cap’n, we’ve got plenty of it already!”
Done and done! We got a refund from the Feds but owed state, so we filed early with the IRS and later with the state.
When I had done my preliminary calculations back in February, it looked like I was going to owe about $100, so I put off trying to file until this week. Then when I tried to use one of the free e-filing services they didn’t include my interest income on my 1040, and I had to use their email customer service twice before they corrected it. I also realized that I had previously neglected to include the state tax deduction on my Schedule A, and as a result I was actually due a $1 refund. I tried to just have this applied to next year’s taxes, but the free filing service wouldn’t let me do it, so I ended up having it deposited to my checking account.
Next year I’m just going to print out the damn forms and file by mail. It would be faster and less aggravating.
Signed and filed today. I didn’t get much back, but I am happy not to pay. Guess I’m balanced pretty well.
Did them awhile ago. Finally filed them electronically this past weekend. Sent the checks off two days ago.
Got ours back from the accountant last week. Sent in the state with a small payment, less than $300.
I’ve been waiting for a large check from a project we completed in December. That still hasn’t arrived, so I missed my estimated tax payment that was due in January. Therefore, I had to write a check for a little less than $8,000 today to mail in with the Fed return.
The penalty for underpayment is peanuts - only $96.00.
I’ve filed my federal taxes, and plan to get my state taxes (which aren’t due until May 1) in the mail this weekend.