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Filing taxes: Anyone else as hesitant as me to pull trigger
Old 02-14-2020, 06:05 PM   #1
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Filing taxes: Anyone else as hesitant as me to pull trigger

I have a spreadsheet from the start of 2019 to track income and deductions for purposes of estimated taxes, keeping MAGI under 400% FPL, and determining amount of Roth conversions. Everything that I estimated is in. Everything I did for 2018 is accounted for in my 2019 taxes. Standard deduction for sure, which makes it even easier. TT review says no errors or flags. I'm done. I get very small refunds from fed and state ($104 and $25), so there's no reason to wait (but no incentive to rush and get those small refunds).

So why can't I pull the trigger?

I could be all done with taxes, with my tax folder filed away instead of on my desk. One less thing to do. If I somehow get a stray 1099 I could always do an amended, but I can't imagine it.

Yet I still pause.

I got a little thrown by an unexpected 1099-INT from the US Govt about 3 weeks ago. It seems to be from an amended return, where I got more back plus interest. The only other surprise was an error in my spreadsheet which caused me to underestimate income by a few hundred. Good thing I put in some buffer from the ACA cliff.

Just wondering if anyone else has the same hesitancy to finish the filing step, or put the envelope in the mail if you are still a paper filer?

Even though taxes are a money issue, this is really a mental hangup, thus I put it in the Other Topics forum.
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Old 02-14-2020, 06:30 PM   #2
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I wait until early April in case corrected 1099 show up.
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Old 02-14-2020, 06:33 PM   #3
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We usually need until April 1 to get complete foreign tax info.
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Old 02-14-2020, 06:53 PM   #4
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I file for refunds, Fed or state, as soon as I think I have taxes done, eFiled Wed. This year I had 12 tax Docs, all in.

When I owe, Fed or State, I wait and mail/pay just a couple days before the deadline on or about Apr 15. I refuse to pay to eFile state as it benefits them too, so I donít get why they charge - snail mail has to be a bigger PITA for them.

Iíve only had to amend once in my life, but undoubtedly there are others here with more complex taxes, and legit reasons to wait.
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Old 02-14-2020, 07:01 PM   #5
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I am waiting for 3 1099's from FIDO and another one. It is a function as to weather I am getting a refund or paying. I do not have a clue. Both DW and I sold some funds and I have no idea what the CG is going to look like this year.
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Old 02-14-2020, 07:06 PM   #6
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I just filed today. I try to file ASAP before the identity theft bad guys file a return using my SS number. If I file and later find something I missed I can always amend.
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Old 02-14-2020, 07:14 PM   #7
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When I used to snowbird, Iíd wait until I got back to Illinois to get my stuff together and get it to my accountant. So I used file early April. Iím not snowbirding this year, and itís possible that I could get a refund, so I think Iíll get my stuff together and file ASAP.
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Old 02-14-2020, 07:15 PM   #8
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Quote:
Originally Posted by harllee View Post
I just filed today. I try to file ASAP before the identity theft bad guys file a return using my SS number. If I file and later find something I missed I can always amend.
I like that. That's a good reason. I'm not expecting anything else. I'll file it this weekend. Thanks.
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Old 02-14-2020, 07:16 PM   #9
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We have already filed and received our refund using H&R Block online which I got from Walmart for $15.99.

It used the new form for seniors 1040-SR which includes worksheets for calculating foreign taxes, taxable refunds of state and local income taxes, excess SS and other misc credits. I have always used Turbo Tax in the past, but this was a breeze which may relate more to the new senior form than the use of H & R Block.

The new form may not apply to you. The filer must be 65 years or over, and must use the standard deduction.
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Old 02-14-2020, 07:16 PM   #10
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We have always waited till April, no need to bother prepping sooner, as we rarely get any refund (and while working, usually owed).
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Old 02-14-2020, 07:25 PM   #11
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I'm still waiting for H&R Block to fix the bug I reported a week ago. They said it would be fixed in the update to be released today. They now delayed it another week. Oh well.
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Old 02-14-2020, 07:32 PM   #12
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I use the IRS Free File Fillable Forms. I am waiting to Form 8889 (HSA contributions) to be available. I have my workpapers all penciled in and am just waiting for that form so that I can push the button.
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Old 02-14-2020, 07:32 PM   #13
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still waiting on some 1099's. Won't start until they are here
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Old 02-14-2020, 08:07 PM   #14
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Quote:
Originally Posted by harllee View Post
I just filed today. ...
+1 I've been ready to go for a week other than a form that needed to be updated before I could file. No reason to delay. If something pops up the I'll file a 1040X.
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Old 02-14-2020, 08:14 PM   #15
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I'm just waiting for Fidelity. Absolutely positively no refund for me this year - same as the last 10 years. I guess I'm doing something right.
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Old 02-14-2020, 08:21 PM   #16
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I set my appointment for April 6th. Buying a house and moving at the end of this month and want to make sure we can get in and get a little settled before doing taxes
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Old 02-14-2020, 08:21 PM   #17
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I'm just waiting for Fidelity. Absolutely positively no refund for me this year - same as the last 10 years. I guess I'm doing something right.
Yep. My goal is 0. I figured federal would come in at 0 taxes but hedged my bets and sent in $25/quarter. Goes back to years ago when a friend said that once you started estimated payments they expect to see them quarterly. Probably not true, but I did it anyway. Plus got an extra $4 back on my ACA subsidy for being at 395% FPL instead of 399%. I do have state taxes even when fed is 0, but $25 off is close enough.
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Old 02-14-2020, 08:30 PM   #18
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I make darn sure I’m not owed a refund.

I file when I can (have the info), but I don’t pay owed taxes until April 15 via eftps.
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Old 02-14-2020, 08:32 PM   #19
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I do the tax in March. Double check it and leave it there. Then I go back a month or so later (depends on payable vs refund owing) and check it again.

Invariably I find an error or a late slip in one or both.
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Old 02-14-2020, 09:22 PM   #20
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I have to wait to file until almost April as K-1's are not out until late March.
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