Federal Income Tax Refund

[mickeyd]

TT told me that my tax refund would be received "within 21 days." They were wrong again. This time it took 13 days (Mar 3-16). IRS is efficient when returning my money that I lent them for no fee. Just my way of helping out Uncle Sam.

How long did your's take?

 

[braumeister]

If I'm supposed to get a refund it means I screwed up.
Where's that W-4 form?

 

[Senator]

I still have not yet filed. I am due ~$5,500. I typically get it in a couple or three weeks.

It's about 10% of the amount I paid.

 

[Big_Hitter]

I'm expecting to write a huge check that may set me back about 8-10 sets of nice golf clubs.

 

[pb4uski]

Filed electronically on 2/8/16. Refund posted to my account on 2/17/16. So 9 days.

Filed state same day. The iave received return but say the refund will take 8-10 weeks!!! WTH! Thankfully the amount is small.

 

[REWahoo]

Filed electronically on 2/8/16. Refund posted to my account on 2/17/16. So 9 days.

Filed electronic on the same day. Refund posted to my account on 2/19 - 11 days.

Filed state same day.

State income tax? We don't need no stinkin' state income tax.

 

[Big_Hitter]

State income tax? We don't need no stinkin' state income tax.

one thing I miss about TX - that and the tex-mex food!

 

[scrabbler1]

Once I ERed in late 2008 I had no more money withheld from any of my income. I make sure to underpay my estimated taxes so I will always owe money in April. For 2015, my ACA tax subsidy was nearly as large as my tax bill so I will end up owing under $100. I make an estimated tax payment to my state but again I make sure to underpay it so I will owe a small remainder in April, this time about $150.

 

[GrayHare]

the longer it takes, the more interest it earns

 

[DrRoy]

Mine was under 2 weeks.

 

[Tadpole]

TaxAct notified me that my return was accepted by the IRS on February 11. My refund was deposited today, March 16.

 

[pb4uski]

.....State income tax? We don't need no stinkin' state income tax.

I get ya, but.... I'm getting such a sweet deal on my health insurance (~$500/month for the two of us) that if I moved to FL my state income tax savings would be absorbed by higher health insurance costs so I'm staying where I am for at least until Medicare. I suspect it would be similar for TX.

 

[Corporateburnout]

I voted over 20 days since it's been 38 days and I'm still waiting.....I got my state refund in 4 days. The good news is my return was accepted by the IRS so the crooks didn't file under my name therefore I don't care how long it takes to get the refund.

 

[RE2Boys]

If I'm supposed to get a refund it means I screwed up.
Where's that W-4 form?

I can't remember the last time I had a refund. And I'm not in the business of giving out free loans! Surprised how many folks equate a tax return with a refund,

 

[audreyh1]

TT told me that my tax refund would be received "within 21 days." They were wrong again. This time it took 13 days (Mar 3-16). IRS is efficient when returning my money that I lent them for no fee. Just my way of helping out Uncle Sam.

How long did your's take?

Um - 13 days is within 21 days. How was TT wrong?

 

[audreyh1]

TaxAct notified me that my return was accepted by the IRS on February 11. My refund was deposited today, March 16.

Ooops - that was longer than 21 days.

 

[mystang52]

Federal refund was 10 days; NJ took about 21 days. All in all, can't complain.

 

[Fedup]

I owe them money. But I need to dig in more information from Scottrade. I think something was not reported to me last year correctly.


Sent from my iPad using Early Retirement Forum

 

[Car-Guy]

28 days and counting.

 

[scrabbler1]

I can't remember the last time I had a refund. And I'm not in the business of giving out free loans! Surprised how many folks equate a tax return with a refund,

Same here. I always equated any significantly large refund as a failure to adequately align one's tax withholdings via W-2 and 1099-R forms with an estimate of what one's tax liability will be.

Over the 25+ years I have been filing income tax returns, I have very rarely received tax refunds. Once my investment income rose more and more in the late 1990s, I always had a larger tax liability than any withheld taxes from my old job. I sometimes made estimated tax payments to make sure I stayed in a "safe harbor" and away from any penalties for excessive underpayments.

Now that I am retired, I have zero taxes prepaid during the year other than through occasional estimated tax payments. In the last 2 years, the closest thing to a tax prepayment has been the ACA tax subsidy but it is tough to figure out what that will be during the year because my investment income can be uneven and other variables used to determine the subsidy are not fully known until I receive the 1095-A form.

For 2015, the subsidy was nearly the amount of my tax liability so I will pay less than $100 and call it a day.

 

[foxfirev5]

Same here. I always equated any significantly large refund as a failure to adequately align one's tax withholdings via W-2 and 1099-R forms with an estimate of what one's tax liability will be.

I thought the same thing until this year. Due to mandatory withholding on a 401k and 403b withdrawal I'll have a big refund next year. I'm taking 15 exemptions on my final months of work but will still have a big refund next year.