2016 Income Tax Status

[audreyh1]

Quote:

Originally Posted by RobbieB 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.

I think they've made tax filing fraud a lot harder, especially with the new DL info, but the other info can be obtained through phishing employers, access to stolen credit records, etc. Happens all the time.

[Ronstar]

Got my taxes done and e-filed. Had a CPA do it again this year - not much more $ than buying turbotax. Our real estate LLC ended in 2016 and I had to pay tax on my share of the gains - within $100 of what I guessed. Not happy about the state tax. Seems like Illinois tax is a greater pct of the fed now as compared to 10-15 years ago.

[scrabbler1]

Quote:

Originally Posted by Ronstar ... Seems like Illinois tax is a greater pct of the fed now as compared to 10-15 years ago.

New York is hardly a low-tax state even though they have cut their taxes a little in the last few years. Since 2013, I have been paying more to NY than to the Feds for a few reasons. One is my having more of my income which is tax-free for the feds but taxable to NY - dividends and LTCG. Another, since 2014, is the ACA subsidy which has taken a few hundred dollars off my federal tax bill. A third, since 2015, has been my higher medical expenses which I have itemized on my federal return but not always on my state return. Also, my property taxes (not based on income for the most part) have been higher than federal income taxes since 2012 after being far lower during my working years.

[GravitySucks]

Status is Single
Used Turbo Tax free through Fidelity on 4/2 and received my refund 4/10.

[Fedup]

Filed extension for my daughter. We finally got some numbers from the CPA.

[meierlde]

My return was recieved by the IRS on March 21, and I got my refund check on the 4/14 so that is not to bad. (I always file by mail anyway). Did it earlier than usual since I also have to do the 1065 for the family partnership, and that was due 3/15 this year. Once I had that done, most of the work on my personal return was done also. (I enter the 1099s into turbotax as they arrive, and scan them onto the computer also so it can do various cross checks to be sure I did not have a typo)

[Fedup]

Quote:

Originally Posted by Fedup It's officially done. Everything is printed and waiting for my husband's signature. We will mail it today when we go out.

So I received a letter from Ca Franchise tax Board saying my 2016 refund is now going to fund the tax I owe them for 2015. I don't really, because I've already filed a resubmital on 2015, they owe me money. So this will complicate things. I'm still waiting for them to send me a check for 2015 and they think I owe them money for 2015.
California is broke. The tax and spend state.

[LOL!]

My wife won't produce the receipts for charitable giving, so I'm stuck until that happens.

[W2R]

Quote:

Originally Posted by Fedup So I received a letter from Ca Franchise tax Board saying my 2016 refund is now going to fund the tax I owe them for 2015. I don't really, because I've already filed a resubmital on 2015, they owe me money. So this will complicate things. I'm still waiting for them to send me a check for 2015 and they think I owe them money for 2015. California is broke. The tax and spend state.

California has many "plusses" (it's beautiful scenery and weather), but it also has some minuses. I would add the insane cost of housing there, and also the cost of utilities such as electricity and water, at least from what people tell me. And there are many more plusses and minuses as well. For me it is not a good match at all. But for some others it is paradise, I suppose.

[Fedup]

Quote:

Originally Posted by Fedup It's officially done. Everything is printed and waiting for my husband's signature. We will mail it today when we go out.

So I got my tax refund from the IRS today, it's about a month after filing without eFile. Not too bad.

[Fedup]

Quote:

Originally Posted by Fedup So I received a letter from Ca Franchise tax Board saying my 2016 refund is now going to fund the tax I owe them for 2015. I don't really, because I've already filed a resubmital on 2015, they owe me money. So this will complicate things. I'm still waiting for them to send me a check for 2015 and they think I owe them money for 2015. California is broke. The tax and spend state.

Bring this thread back to say I finally received a check from the state of California for both my 2016 and my 2014 amended tax. It's a nice check, so everything is fair and square now from the Franchise Tax board.
Still waiting for the IRS refund of my 2014 amended tax return from the IRS.

[jebmke]

Almost done with my return. Everything is complete except for Form 1116. I may file this month if I get bored.

[sengsational]

Quote:

Originally Posted by sengsational Today I saw that the IRS deposited the check I sent in with my 1040-X.

The saga actually continued after I thought it was wrapped-up with the 1040-X submission and payment.

As a recap, I filed the first possible day because my 401k company had mandatory 20% withholding and with credits, they owe ME money. I wasn't the first to get the refund, but got my refund, but had to file a 1040-X because my PPACA second lowest plan value wasn't quite right.

They deposited my check, but then sent me a "bill" for $15, presumably because they didn't type-in the 1040-X details properly.

I called the IRS and they couldn't explain it except to say that I was right (that the bill they sent didn't jive with the 1040-X I'd sent). They said to send a letter saying just that, which I did.

I wonder if this saga will continue.

[Surewhitey]

Quote:

Originally Posted by W2R California has many "plusses" (it's beautiful scenery and weather), but it also has some minuses. I would add the insane cost of housing there, and also the cost of utilities such as electricity and water, at least from what people tell me. And there are many more plusses and minuses as well. For me it is not a good match at all. But for some others it is paradise, I suppose.

I have one more year to file with CA...deferred comp taxes. I do miss the scenery, but will never miss the taxes and traffic...101, ugh

They really are sticking it to the little guy. They upped the personal income tax a few years back and, more recently, the gas tax and additional car registration fees. Moving back to the big D helps dramatically on taxes, not so much on the quality of life in the summer months...all other months not bad, though.

I did remember how cheap the utilities were there, mainly because we didn't use much since the air is drier in the valley and it always cooled down in the evening. I don't remember the true rate of electric, but it was less in dollar terms (like half) in our experience. Housing we got down to the smallest at $1,700 / month, all in. We never bought a house from the 07-11 we were out there.