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Old 04-10-2017, 07:25 PM   #281
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I'm cranking! Downloaded TT today, and found my folder with all the paperwork. Nothing can stop me now!
Maybe she can't stop you, but, perhaps slow you down?

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Old 04-10-2017, 08:03 PM   #282
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Originally Posted by harley View Post
I'm cranking! Downloaded TT today, and found my folder with all the paperwork. Nothing can stop me now!
Great, you are on a roll! You'll feel so good when you don't have taxes hanging over your head any more (this year, anyway). Hope you don't have to pay too much.
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Old 04-10-2017, 08:35 PM   #283
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my personal experience is that paying my quarterly estimated taxes, that I exceeded total taxes paid in prior year, did not stop TT from saying I owed penalty for underpayment. i see a number of posters that think that will save you, i don't think its true. And it was true my income was much higher than the year before.
Anyone else with similar experience getting underpayment penalty?
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Old 04-10-2017, 08:56 PM   #284
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Yeah, if you go too low you have to pay the penalty.

Been there and done that. The gov wants their dough when you make it, not after the fact.
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Old 04-10-2017, 10:02 PM   #285
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my personal experience is that paying my quarterly estimated taxes, that I exceeded total taxes paid in prior year, did not stop TT from saying I owed penalty for underpayment. i see a number of posters that think that will save you, i don't think its true. And it was true my income was much higher than the year before.
Anyone else with similar experience getting underpayment penalty?
If your income is over $150K, then you need to pay 110% of the prior year's taxes to avoid the penalty. Otherwise, it's definitely the smaller of 100% of the prior year or 90% of the current year. That's straight out of the IRS instructions for form 2210, so if TTax is doing something else, that's a bug.
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Old 04-10-2017, 10:55 PM   #286
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Filed my taxes with Turbo on March 26, got refund March 31.
Filed Mother's taxes today, still awaiting Son's W-2s to file his.

Has anyone used Credit Karma for their taxes? Seem to see a lot of advertisements for them & H&R Block
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Old 04-11-2017, 05:03 AM   #287
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One thing about owing the IRS I kinda like is that I know they received my return when I see the cleared check posted to my account a few days later. Both my federal and state returns had my checks posted that way a few weeks ago. My LF owed the Feds and her check I mailed out for her with her return last month got posted a few days later.
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Old 04-11-2017, 07:32 AM   #288
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Quote:
Originally Posted by perrytime View Post
my personal experience is that paying my quarterly estimated taxes, that I exceeded total taxes paid in prior year, did not stop TT from saying I owed penalty for underpayment. i see a number of posters that think that will save you, i don't think its true. And it was true my income was much higher than the year before.
Anyone else with similar experience getting underpayment penalty?
Hmmm - if you made enough the prior year, you have to pay 110% of the prior year's taxes in equal quarterly estimated tax payments to reach safe harbor.

Is that the problem? Did Turbotax fill out form 2210 for you?

I have had years where the above safe harbor rule kept me from owing penalties, so it does work. And we always use Turbotax.
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Old 04-11-2017, 08:47 AM   #289
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2016 Income Tax Status

My first full year in Canada for taxes and as I suspected, my tax burden is definitely higher here. I didn't expect my marginal tax rate to be over 29% since my income was quite modest, but healthcare is virtually free here and reading some of the ACA threads and understanding the related cost, paying extra taxes is not a bad trade off. Not bad at all.


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Old 04-11-2017, 08:59 AM   #290
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I did my taxes a couple of months ago, saw that I owed money and a bit of penalty, no surprise here as I did none of this quarterly estimated tax thinggy, so sat on it until recently.

Last Sunday, fired up Taxact, and efiled. Somebody's computer sucked it all up, and an SMS went out to my phone saying the IRS accepted it. OK, now how about giving Uncle Sam the money I owed him?

Took several tries to pay through directpay.irs.gov. The Web site must be choking from all the money flowing in. I was able to use it just now to send money in.

OK, until next year...
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Old 04-11-2017, 10:09 AM   #291
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Originally Posted by harley View Post
I'm cranking! Downloaded TT today, and found my folder with all the paperwork. Nothing can stop me now!
What's the rush Harley? You still have a full week from today
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Old 04-11-2017, 10:24 AM   #292
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Filed mine last night. Now I can relax the Easter weekend.
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Old 04-11-2017, 10:26 AM   #293
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Hehe, that's why I always wait till the end of March -
... says one procrastinator to another....
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Old 04-11-2017, 10:41 AM   #294
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It's not that, in fact I diligently enter the info in TT as it arrives. Then I write TT and the date on the form and put it in the tax file. Some forms don't arrive until late March and the one that arrive early usually have "don't file early, corrected forms may be issued" warnings on them.

Just trying to avoid sending amended returns. Not worried about fraud either. The hackers would need my SSN, PIN, DL number and the issue and expiration dates.
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Old 04-15-2017, 01:44 PM   #295
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We usually get HR Block basic Federal program and use the state's free i file program. The family has four returns to file and I got the Block deluxe program for <$20 from Amazon thanks to a tip on this forum. I forgot that my DD has to file a second state return in VA since she moved mid year. The individual state return was $39 but it would not download on my antiquated laptop running Vista. The purchase confirmation email was missing any explicit instructions on how to actually obtain the file. Big kudos to HR Block for answering the phone immediately and staying on the line while they walked us through the download and install. Being unfamiliar with how VA does things it took awhile to figure out how to avoid being double taxed. The software was vague about some details but we eventually figured out how to keep her from getting double taxed.
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Old 04-15-2017, 01:51 PM   #296
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Half hour with Tax Act Fed and State.. I don't think I even have to file any longer, but do so just in case. Guess I must be poor.
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Old 04-15-2017, 02:26 PM   #297
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I'm checking in with all of the tax procrastinators. I just finished mine up today.


Still using the Old School process. I started to use Turbo Tax a few years back. I think it was a free download from Vanguard. Decided I didn't want to answer questions for every possible income or tax deduction, when 90% of them do not pertain to me. (= I'm stubborn, and don't want to change.)


Some observations:
- They seem to make it harder each year to determine who to make the check out to, and where to send the returns hardcopy.
- I started maximizing our HSA contributions this year, and it made a big difference.


Feels good to be done. Might have a nice cold beer as a reward this evening.


Take care,


JP
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Old 04-15-2017, 04:18 PM   #298
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We ran the #'s in mid Feb when all the info was in. Used Turbotax Deluxe free from Fidelity. Owed $ so sat on it for a month. Filed in late March because we had a trip in early April and didn't want to forget, plus you get squat on cash these days.
What? No identity theft? You were lucky.
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Old 04-15-2017, 04:22 PM   #299
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I'm checking in with all of the tax procrastinators. I just finished mine up today.


Still using the Old School process. I started to use Turbo Tax a few years back. I think it was a free download from Vanguard. Decided I didn't want to answer questions for every possible income or tax deduction, when 90% of them do not pertain to me. (= I'm stubborn, and don't want to change.)


Some observations:
- They seem to make it harder each year to determine who to make the check out to, and where to send the returns hardcopy.
- I started maximizing our HSA contributions this year, and it made a big difference.


Feels good to be done. Might have a nice cold beer as a reward this evening.


Take care,


JP
Over 90% of submissions are e filed.

Over 80% of returns get refunds.
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Old 04-16-2017, 06:14 AM   #300
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Originally Posted by JP.mpls View Post
I'm checking in with all of the tax procrastinators. I just finished mine up today.


Still using the Old School process. I started to use Turbo Tax a few years back. I think it was a free download from Vanguard. Decided I didn't want to answer questions for every possible income or tax deduction, when 90% of them do not pertain to me. (= I'm stubborn, and don't want to change.)


Some observations:
- They seem to make it harder each year to determine who to make the check out to, and where to send the returns hardcopy.
- I started maximizing our HSA contributions this year, and it made a big difference.


Feels good to be done. Might have a nice cold beer as a reward this evening.


Take care,


JP
Isn't the check always made out to United States Treasury?

Now where to mail it may be changing.
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