The US tax return....

[Neil D]

Ok, so who's paying and who's getting a refund?

I'm getting a refund...Gonna pay off the hospital bills, if they will wait that long...

[karl]

Ok, so who's paying and who's getting a refund?

I'm getting a refund...Gonna pay off the hospital bills, if they will wait that long...

I thought you said in another post you were going to have to pay in more than was withheld this year for the first time.

If I ever overpay, which I try not to do, it just goes back into estimated taxes for the next year.

[Neil D]

Nope, I didn't say that....

I may have stated that I over pay so that I can get a refund....

I said that during the last 2 years of Bushes reign, I PAID over $2k in taxes at tax time...And in Obamas reign, I have consistantly gotten a refund back...

[karl]

Nope, I didn't say that....

I may have stated that I over pay so that I can get a refund....

I said that during the last 2 years of Bushes reign, I PAID over $2k in taxes at tax time...And in Obamas reign, I have consistantly gotten a refund back...

You've only had one tax year of Obama's reign (that would be this return that is due 4/15/10) so if you have enough refund-returns to be listed as "consistently" that category would include at least one of Bush's. Not that it makes all that much difference. Neither reign was moving us in the right direction - toward fiscal responsibility (eliminating deficit spending.)

[Neil D]

Hey, it's consistently one year......and it was like a fine wine....it was a "very good year"...

[rudywoofs (Pam)]

Ok, so who's paying and who's getting a refund?

I'm getting a refund...Gonna pay off the hospital bills, if they will wait that long...

Just a heads up for those people 55 and older: AARP representatives will do your taxes for free at Senior Centers across the country, and submit the forms electronically.

[Renewed_faith]

I have already received my tax refund for this year. I got it the last part of January this year. I filed the last day of December. However, it is mostly spent.

I used the last paycheck to be able to file. I do that every year.

[rudywoofs (Pam)]

I have already received my tax refund for this year. I got it the last part of January this year. I filed the last day of December. However, it is mostly spent.

I used the last paycheck to be able to file. I do that every year.

Something about this sounds illegal to me...but I could be wrong.

[Renewed_faith]

You are wrong. Everything that is on the w-2 is on the very last paycheck. Check your last paycheck stub against your w-2. You will see. When I first heard about someone else doing this, I was like you. Then I checked my last paycheck against my w-2 and it surely did say the same thing, so I use it every year.

[GreatLakesGramma]

I said that during the last 2 years of Bushes reign, I PAID over $2k in taxes at tax time...

How could you get away with that without paying penalties and interest? Or DID you pay penalties & interest?

[GreatLakesGramma]

I haven't done our income taxes yet. I'm waiting for the partnership form for the farm.

However, I'm not impressed with the fact that you have gotten a refund instead of having to pay, Neil. What's more indicative to me of the direction things are going under the current administration is the fact that while my husband's hourly wage is exactly the same as it has been for several years now, and he has not changed his number of exemptions, there are more taxes being withheld this year than last. Thus the net take-home pay is smaller.

[rudywoofs (Pam)]

You are wrong. Everything that is on the w-2 is on the very last paycheck. Check your last paycheck stub against your w-2. You will see. When I first heard about someone else doing this, I was like you. Then I checked my last paycheck against my w-2 and it surely did say the same thing, so I use it every year.

How do you attach your W-2 form if you don't have it? It's required. Most places don't send out the forms until sometime in January.

[Gerr]

I have already received my tax refund for this year. I got it the last part of January this year. I filed the last day of December. However, it is mostly spent.

I used the last paycheck to be able to file. I do that every year.

Good to hear you've already spent it. I hope all those who are getting refunds will spend them as quickly as they can but not on merchandise made overseas. Perhaps this would jumpstart the economy?

[phkrause]

You are wrong. Everything that is on the w-2 is on the very last paycheck. Check your last paycheck stub against your w-2. You will see. When I first heard about someone else doing this, I was like you. Then I checked my last paycheck against my w-2 and it surely did say the same thing, so I use it every year.

When I got a pay check it also had this info on it! But when I actually got my w2s everything was different. So I think you should really check this out. I used to do my taxes just after I got all my forms from all the different banks, etc. But this year I'm going to have to pay the state because I've taken a lot of my 401k plan, plus all the unemployment I received. But I should receive some from the Federal.

pk

[Dottie]

Why would anyone want to get a refund? They let the government use their money for months without getting any interest.(!?) Better to change the withholding to a lesser amount and pay a little at the end of the year than to let Washington use your money for free.

[GreatLakesGramma]

Why would anyone want to get a refund? They let the government use their money for months without getting any interest.(!?) Better to change the withholding to a lesser amount and pay a little at the end of the year than to let Washington use your money for free.

I totally agree. We always pay. But we pay with money that's earning interest for US through the year.

[Amelia]

Since the divorce, I pay.

[Neil D]

Originally Posted By: Neil D

I said that during the last 2 years of Bushes reign, I PAID over $2k in taxes at tax time...

How could you get away with that without paying penalties and interest? Or DID you pay penalties & interest?

I am not sure how you arrived at the conclusion that I was late with my payments of income tax....I was not...There was no penalties nor interest....just payments....on time...each year....before April 15...

Does that clarify it for you, GLG?

[Neil D]

What's more indicative to me of the direction things are going under the current administration is the fact that while my husband's hourly wage is exactly the same as it has been for several years now, and he has not changed his number of exemptions, there are more taxes being withheld this year than last. Thus the net take-home pay is smaller.

Not to mention that your premiums have probably gone up..... [shameless plug for universal coverage]

[Outta Here]

We filed our taxes about a month ago. Standard U.S. mail and received our state refund only a week later. We owed the federal government $200 less than we received as a refund from our state taxes. In my opinion that's about as close to "breaking even" as we've ever come.

Heads up to everyone who worked for an income the past year: Pay special attention to the "Make Work Pay" credit. On the 1040, this is line 63. It's worth $400 so you won't want to miss it!

[phkrause]

GLG, my pay was the same since 1993, so not sure what that has to do with this administration! And our cost of living has gone up every year. If it wasn't for this administration I would've only had 30 weeks of unemployment. I don't blame any admin for the fact that I've been unemployed for just over 2 years now. I blame the my last employer for that. Just getting rid of the older employees is not right. And now no one wants to hire someone that's over 60 and was paid a pretty good salary for the past 15 years before being laid off.

pk

[phkrause]

PKRAUSE

YES I can agree with you about wanting to hire

some 60 plus years unless is maybe 3 days a week

dgrim60

dgrimm what do you mean by 3 days a week?

pk

[GreatLakesGramma]

Originally Posted By: GreatLakesGramma

How could you get away with that without paying penalties and interest? Or DID you pay penalties & interest?

I am not sure how you arrived at the conclusion that I was late with my payments of income tax....I was not...There was no penalties nor interest....just payments....on time...each year....before April 15...

Does that clarify it for you, GLG?

No, Neil, the law requires that if you are going to owe more than $1000 in taxes above what you've had withheld, you are supposed to make quarterly estimated payments during the year. If you don't make these payments you are charged a penalty and interest for not paying, unless the amount you did pay in was at least equal to your total tax liability from the previous year, or 90% of your total tax liability for the year in question.

[GreatLakesGramma]

Originally Posted By: GreatLakesGramma

What's more indicative to me of the direction things are going under the current administration is the fact that while my husband's hourly wage is exactly the same as it has been for several years now, and he has not changed his number of exemptions, there are more taxes being withheld this year than last. Thus the net take-home pay is smaller.

Not to mention that your premiums have probably gone up..... [shameless plug for universal coverage]

They would have if he was paying for insurance. As for your universal coverage comment, get real. Who do you think is going to pay for all those people who weren't previously covered? Especially the ones who have serious illnesses and huge medical expenses? Hint: it won't be the government.

[phkrause]

No, Neil, the law requires that if you are going to owe more than $1000 in taxes above what you've had withheld, you are supposed to make quarterly estimated payments during the year. If you don't make these payments you are charged a penalty and interest for not paying, unless the amount you did pay in was at least equal to your total tax liability from the previous year, or 90% of your total tax liability for the year in question.

Have never heard this before! I've been doing my taxes since 1968-9! But have also never owed over $1000 before. Until this year. So far I owe the state about $1900.

pk