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Federal Refund Came Today Feb 5th
Old 02-05-2018, 12:03 PM   #1
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Federal Refund Came Today Feb 5th

Received all the tax filing paper work the last weekend of January and decided to enter the information into Turbo Tax and maybe go over it again in a few days. Once finished, went ahead and filed on January 27th - thought perhaps I should try and beat the next government shutdown in February. The Feds didn't accept any returns until January 29th, so my return waited in the queue.

I'd done my first withdrawal from retirement savings in the 2 years since retiring ($25,000 from my 457). $5,000 was withheld for federal taxes at the time of the withdrawal. I'd been withholding ample taxes this year, worried that might have to pay. Ended up getting a refund of about the same amount as the $5,000 withholding.

Was checking to see how much the new tax bill passed in December were going to impact our monthly income (one small pension and my DW still works part time).

Noticed our savings account was larger than I thought and looked at it and saw the refund had already hit. One week - that has to be a new record for processing a federal refund!
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Old 02-05-2018, 03:14 PM   #2
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I got mine in December. I skipped my fourth quarter estimated tax payment.
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Old 02-05-2018, 05:23 PM   #3
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Should get mine Wednesday(per IRS site) and just filed last Friday.
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Old 02-05-2018, 05:40 PM   #4
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That is fast. You made me look - it's supposed to be deposited the day after tomorrow. That's still impressive.

I'll bet the state takes at least a few weeks.
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Old 02-05-2018, 07:09 PM   #5
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Nice!!
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Old 02-05-2018, 07:10 PM   #6
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I'm held up filing waiting on the IRS to finalize and release their forms for certain business sections. Argggg.
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Old 02-06-2018, 05:07 AM   #7
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Our refund was credited at midnight last night.

I
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Old 02-06-2018, 05:33 AM   #8
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Wow. I guess the early filings get their refunds much faster than those filing later; the number of filings probably increases over time.
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Old 02-06-2018, 05:56 AM   #9
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I'm held up filing waiting on the IRS to finalize and release their forms for certain business sections. Argggg.
If you are waiting for form 4562, like I am, the IRS has already finalized it as of 1/29, according to the IRS web site. TurboTax will have the 4562 on 2/9 according to the TurboTax web site.
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Old 02-06-2018, 06:09 AM   #10
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Oh God, I gotta get my backside in gear, Congrats. Hopefully I'll get mine done this weekend.
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Old 02-06-2018, 07:06 AM   #11
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Originally Posted by jebmke View Post
I got mine in December. I skipped my fourth quarter estimated tax payment.
LOL! I do exactly that when it’s clear I’ve already covered the 90% rule.

Not this year though. Big tax bill coming due to realizing extra gains last year.

We won’t get our biggest 1099 until sometime in March and then still have to wait on foreign tax fund info. Last year late March was earliest we could file.
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Old 02-06-2018, 08:32 PM   #12
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Received all the tax filing paper work the last weekend of January and decided to enter the information into Turbo Tax and maybe go over it again in a few days. Once finished, went ahead and filed on January 27th - thought perhaps I should try and beat the next government shutdown in February. The Feds didn't accept any returns until January 29th, so my return waited in the queue.

I'd done my first withdrawal from retirement savings in the 2 years since retiring ($25,000 from my 457). $5,000 was withheld for federal taxes at the time of the withdrawal. I'd been withholding ample taxes this year, worried that might have to pay. Ended up getting a refund of about the same amount as the $5,000 withholding.

Was checking to see how much the new tax bill passed in December were going to impact our monthly income (one small pension and my DW still works part time).

Noticed our savings account was larger than I thought and looked at it and saw the refund had already hit. One week - that has to be a new record for processing a federal refund!
Turbotax will not let me finish saying the 8606 forms are not final.
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Old 02-06-2018, 08:42 PM   #13
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Turbotax will not let me finish saying the 8606 forms are not final.
+1
+ I don't have all my 1099
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Old 02-06-2018, 08:42 PM   #14
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K-1's distributed in March make me file in April. No big deal. This will be my last year filing Schedule C also.
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Old 02-06-2018, 09:24 PM   #15
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This the earliest I can remember filing in quite some time. Still getting the hang of estimating withholding in ER. Pretty simple return using HR Bloch but I did have six 1099s due to rollovers, etc. I thought I might have a huge balance due so I wanted to give myself time to fund the payment and file as late as possible. Got a small refund instead. Never could get efile to accept our return so I gave up years ago and just paper file.
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Old 02-06-2018, 10:26 PM   #16
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+ I don't have all my 1099
Same here. Ever since I started working with Schwab and having individual stock transactions, I don't get their 1099 until mid February. Even then, they tend to correct it so I wait until early March to push the button.
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Old 02-07-2018, 09:26 AM   #17
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Turbotax will not let me finish saying the 8606 forms are not final.
The IRS released form 8606 a few days ago. TurboTax says they will have it implemented and included in a program update by tomorrow.
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Old 02-07-2018, 10:52 AM   #18
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2017 was my 1st year with ETFs in my brokerage accounts & that 1099 won't be downloaded until 2/17/18
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