IRS Refund

[Wayne]

All I heard during the Gov't shut down was how much longer refunds were going to take because of it and it was all Trumps fault. Well, I filled the night of 2/23 and it showed up in my bank account today. So much for taking longer.

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[Hop Sing]

There was an initial threat that returns would not be processed, but to minimize the effects of Trump's shutdown the IRS recalled workers so that business was carried out as usual.

 

[Stomper]

Not to mention the process is all computerized if you e-file, and it only kicks over to a human agent if your return triggers one of the pre-programmed algorithms.

Make <$250k? Your chances of getting audited are worse than winning the lottery, in which case if you DID win the lottery... you'd have your own personal IRS agent/buddy for life! LOL!

 

[Oregonhunter5]

I got creamed!!!!!!!!
Rather spend a month at Shawshank then give what they assume I owe them.
These a————- owe us!!!!

 

[Jeedia]

Yeah first year I have ever had to pay additional taxes. The new tax's laws and brakets suck!!

 

[Wayne]

Yeah first year I have ever had to pay additional taxes. The new tax's laws and brakets suck!!

Well my income comes from a small pension, SSA and some intrest income from savings and CD's. I paid 3% less for 2018 than 2017. Also single, no kids (under 35). So it worked out for me.

 

[Caveman Jim]

I heard all the screwups were about those who had claimed dependents last year, those who claimed zero received refunds with no problems....

Thoughts????

 

[Joe13]

I owe again even though we adjusted for it last year.

 

[jblake00]

I made within $200 of my previous year total, same deductions/credits, and we received back couple thousand more then the previous year. Along with getting an additional $40 a week on my pay check, I would say that's pretty good.

The biggest difference for us this year was we were able to take the new standard deduction as opposed to the itemized from the year before.

 

[Alexx1401]

I have long scratched my head about how few seem to understand the idea of a "refund" from the IRS. If they are sending you money back it means one of two things. If you actually work and pay in, it means you were giving them an interest free loan all year. We try to set ours so we do owe at each years file time. Why should I loan them money free? I learned this when I was a kid with my first job. Older co worker claimed as many kids as they would allow at that time. Set money aside each pay day, filed and paid the IRS on the end of the term. You do have to make sure you don't set it up so they fine you. You also of course have to be able to have money and not spend it. Many can't seem to do this. When I see people who claim zero, then do a happy dance when they get that nice check, I have to shake my head. It does seem to work for many who just can't save any money any other way I guess.
The ones that frost me are the ones who paid in nothing, then get several K back and act like it was owed to them.

 

[ThemGunsThough]

I got my IRS refund in 1 week this year. With my wife now working again, it might be the last year to celebrate refunds. Next year ill be celebrating break-evens.

 

[308]

About 2 weeks for us

 

[slimmer13]

The ones that frost me are the ones who paid in nothing, then get several K back and act like it was owed to them.

Yeah, the government takes money from the producers, and gives it to the people that only bred.

In a sane world, the best that you could possibly do is break even. Make little enough, no taxes owed.

This year, I paid about 20% more taxes than last year, but made 20% more, so can't complain. Took about 10 days, and came out with a minimal refund, so we did it right.

 

[TTSX]

I've claimed zero the last decade or so, always end up owing the state, but get about the same back from the feds. I figured I was doing it wrong, so I paid an accountant a bunch of cash to do it for me one year and I got back an additional "what-i-paid-accountant" so it's a wash more or less in my case

 

[TTSX]

Never made sense to me that I had to pay everything I owe RIGHT NOW but I get to wait on my loan repayment. It's bullbubblegum.

 

[Wayne]

You just can't win. I get a 2600. break on my property taxes because I am considered low income for seniors, by a couple hundred a year. In 2 more years I am required to start taking from my IRA that is considered income, I will lose my break. Like I say, I just can't win.

 

[Alexx1401]

Yeah, the government takes money from the producers, and gives it to the people that only bred.

In a sane world, the best that you could possibly do is break even. Make little enough, no taxes owed.

This year, I paid about 20% more taxes than last year, but made 20% more, so can't complain. Took about 10 days, and came out with a minimal refund, so we did it right.

We normally owe around 2K at the end. To me that's perfect. We get no penalty for not paying in enough and of course are not giving them money free all year. Wife at first did not like it. She was one of those who claimed zero, then would love spending the money when the check came. First year I got her to do it my way we owned about 3K and she flipped. I paid it, then roughly figured out what we would have paid in extra if we had done it her way. Said money is there, go spend it. Some how it was not as fun taking it back out of the bank but I think she finally got the idea.

 

[jblake00]

I try and set our taxes up to come out even with the state, which for some reason means we get back a few thousand from the fed. With 1 income, a wife, and 4 kids there's a lot of credits to pick up.

 

[CoastRange57]

The ones that frost me are the ones who paid in nothing, then get several K back and act like it was owed to them.

Couple of the minimum wage people at my wife's store get all the credits, know how to game it and get about 8K. I did not say they " get it back" because they never paid sh*t in the first place.

 

[slimmer13]

Couple of the minimum wage people at my wife's store get all the credits, know how to game it and get about 8K. I did not say they " get it back" because they never paid sh*t in the first place.

Yep, and there are a bunch of those people that shack up and get like $15k a household.