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So I guess the IRS is accepting returns early...
- Thread starter iBreatheApple
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Overpaying not really a wise thing to do financially.
You're giving your money to the government for a year and getting no return when they have it give it back.
Still works out for the best for me personally. It's a forced savings. Sure, I could throw the extra couple thousand in the bank to accrue (pathetic) interest but I wouldn't.
Well for someone like me in sales, its unavoidable. Since you are paid bonuses or commission they tax you like you are going to make that every week just so you don't end up having to pay any in.
Also, in theory its bad, because you are giving the govt a free loan and you could be investing the money yourself. I would venture to say 99% of people don't end up doing that. I work in finance and even I don't think I'd do that!
I don't think a year has gone by where I haven't had to chase after an employer for a W2 or 1099 (I'm a freelancer). Every damn year.
I know!! I could have made like $4.66 in interest with that money!
What do you mean? I'm no tax expert but my corporation allows us to log on the intranet and look at pay stubs, accrued paid days off, year-to-date income, tax withholding, etc. This is the same info that I'll receive on my W2, nothing will change so I see no harm.
He is talking about the preparation software you used. Lots of things changed at the end of the year and might have not made it in to the software yet. Some forms don't get updated for a couple months.
I use turbotax and claimed income in 2 states and finished mine. Anytime after Jan. 1st you can do your taxes as long as you have all your docs
Dont the state downloads come later though? its been a few years since ive used turbo tax since i was out of the country where i couldnt get it and my returns were too complicated so i just did them old school by hand, but im going to get TT this year since i have a simple return again finally. I remember the state downloads always coming later on in february, and the availability varied by state, that seems to have changed?
I've used Turbotax since like 07 I think? I've always done them right away. As it stands I had income from 2 states and real estate in 2 states as well and I've always done mine right away. It just comes down to when you get all your forms in the mail or available online.
In fact I had an update waiting for me on my turbotax the other day. I'm almost done getting my financial ducks in a row (waiting on some various 1099s from banks and what not) but it just shows that software seems to be in flux.
I filed mine with H&R Block's software last night. My taxes are pretty straightforward so the latest update was enough for me.
They don't have Missouri ready, but MO has a fillable 1040 PDF on their website that's dead simple to use so I did that one by hand. H&R charges to e-file state, so I'd be printing and mailing it in anyways. 45 cents for a stamp versus $20 bucks for e-file. Easy choice. H&R Block can take their $20 e-file charge and shove it.
I kinda regret paying for the H&R Block software all these years though, I checked out TaxAct and I meet all the requirements for free prep and federal e-file.
They don't have Missouri ready, but MO has a fillable 1040 PDF on their website that's dead simple to use so I did that one by hand. H&R charges to e-file state, so I'd be printing and mailing it in anyways. 45 cents for a stamp versus $20 bucks for e-file. Easy choice. H&R Block can take their $20 e-file charge and shove it.
I kinda regret paying for the H&R Block software all these years though, I checked out TaxAct and I meet all the requirements for free prep and federal e-file.