Just filed my Federal tax return

Last year (2020 return) I stumbled on e-filing with TurboTax. It was my first year using tax software and I again filed a paper return.

This year I got TT Premier from Fidelity and hope it goes more smoothly. Hope springs eternal and not just in baseball.
 
On the subject of paper filings, I stumbled across this by/for the IRS to how this works. This process looks like there is NO chance for errors. ;)

"Incoming mail is automatically sorted and opened by a machine that reads the bar coded envelopes that identify the types of returns inside. The machine separates returns with payments from those without payments by detecting magnetic ink on enclosed checks.

Returns are extracted from their envelopes and further sorted by type by employees using unique workstations called Sorting Tables....

Returns are then batched into official units of work called blocks, containing from fifty to four hundred documents. Individual blocks containing the same types of returns are combined, placed on carts and logged into a computer system which tracks their movement through the pipeline.

Tax Examiners correct taxpayer errors, assign codes that will facilitate data entry and, if necessary, correspond with the taxpayer to request additional forms or information.

A Document Locator Number, used to identify and locate a document anywhere within the Service, is stamped on each return. It indicates the processing center, type of return, Julian date, block and sequence number and processing year.

Data Transcribers input tax return information into the computer. Portions of returns are re-entered into the system by a second transcriber to verify the original entry of the return data...

The return data is then transmitted to the Martinsburg Computing Center, where it is subjected to math error and validity checks before attempting to post to the IRS Master File.

Return data with errors or inconsistencies is transmitted back to the processing centers where tax examiners make corrections using an Error Resolution System. The corrected return data is transmitted back to the computing center and attempts to post to the IRS master file...

Let's review the pipeline process. Mail is opened. Returns are sorted and payments are deposited. The returns are coded, edited and numbered. Return data is entered into the computer. Validity checks are run and errors are corrected. Valid transactions are then posted to the IRS Master File. Refunds or balance due notices are issued to the taxpayer. The paper returns are retired to Federal Record Centers.

OH HELL NO. :)

The video from 1998 is priceless. https://www.irsvideos.gov/Professional/IRSWorkProcesses/SubmissionProcessingPipeline?l=en-US
 
Especially now that federal comes free. I gladly spend the dough for the state too as it beats standing in line at the PO for certified mail.
 
Especially now that federal comes free. I gladly spend the dough for the state too as it beats standing in line at the PO for certified mail.

+1.

I have no problem paying the $20 (?) fee to e-file state. It is done, it is accepted, and I can mail the amount due before 4/15.
 
Filed and accepted today. Last year I filed two weeks sooner than this year.

It took me approximately 5 weeks to get the refund that was owed to me for my overpayment. If my math is correct I should have this years refund by the first week of march...but my taxes were considerably more complex and I hear the IRS expects delays in processing so who knows.
 
This is my first year with a taxable brokerage account, it's at Vanguard. I expected to be waiting until at least mid February for the 1099-DIV and I was surprised when I got an email this morning that it was available online. Downloaded it and I'd be ready to file but I'm still waiting for two more 1099-INT from bank bonus promos. All the other banks have the 1099-INT posted online and then it's mailed. These two banks have not posted them yet.
 
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I have a K-1 that never gets to me until at least April 1st. I hate that investment! I file shortly afterwards.



I have to wait for a K-1 from Blue Diamond for our orchard. Then I have to do the orchard tax return and generate K-1s for the partners. Only then can I get my tax return done. The bottleneck is the first step-waiting for that K-1.

I prefer to hurry up and wait, not to wait then hurry.
 
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So far my return using estimates for the not-yet-readily-available forms shows we will owe money, so the current plan is to file just before the deadline. Subject to change after mid-February, when all official forms should be available.

Owing doesn't imply you should wait to file. You can specify when the IRS should withdraw the money, regardless of when you file.
 
I unfortunately still owe another $40k in Fed Taxes this year (on top of the several hundred thousand already paid) so I'll be waiting as late as possible to file. Electronically, always electronically.
 
I file electronicly too but we have used the Tax Aide from AARP so we have to wait unril they open it up in our area.
 
I'm waiting for Vanguard's data to open to TurboTax later this morning and will efile shortly. DW's switch from K1 with multiple state income to 1099R has greatly simplified our taxes.
 
I file electronicly too but we have used the Tax Aide from AARP so we have to wait unril they open it up in our area.

They should be opening this next week (week of 1/31) if your area has the same schedule as my area.

Due to COVID requirements, you may need to make an appointment, and you may need to drop off or otherwise have them done remotely. It will be similar to last year.
 
I'm waiting for Vanguard's data to open to TurboTax later this morning and will efile shortly. DW's switch from K1 with multiple state income to 1099R has greatly simplified our taxes.

For future reference, where did you find that Vanguard's data would open to Turbotax today? I have been banging my head against the wall trying to figure out why my data is not showing up in Turbotax even though Turbotax said it found my forms when I imported them.
 
For future reference, where did you find that Vanguard's data would open to Turbotax today? I have been banging my head against the wall trying to figure out why my data is not showing up in Turbotax even though Turbotax said it found my forms when I imported them.
I am using the downloaded version. It connects to VG to download and gives you a choice of fund account or brokerage. I selected brokerage. When I connected earlier it said the data would be available on the 28th. This morning it said to come back after 7:30 PT. I tried again at 10:45 EST and imported the data.
 
Thanks donheff. I'm using Turbotax online version and didn't get the message you got. That would have saved me some frustration. Any way, I tried again at 11:30 EST and my data was there.
 
Somebody posted that he efiled through his accountant's software, and it was hacked and caused major woes. I wonder if the IRS website's free online tax filing is less prone to being hacked. My current thinking is that paper filing may be safer from hacking.
 
Somebody posted that he efiled through his accountant's software, and it was hacked and caused major woes. I wonder if the IRS website's free online tax filing is less prone to being hacked. My current thinking is that paper filing may be safer from hacking.

It's still loaded into government computers/servers (that are probably contracted out) and we all know they NEVER get hacked.
 
Owing doesn't imply you should wait to file. You can specify when the IRS should withdraw the money, regardless of when you file.

I prefer to keep it simple :). I file when I am ready to pay, if I owe. Just as I file as soon as possible when I am due a refund. My choice.
 
Downloaded my Vanguard 1099-B to TurboTax around 10AM. Finished my return, transmitted at 11:30, and accepted at 12:00. AZ hasn't finalized some forms, which I will snail mail.
 
Anyone else finding a lot of bugs in the online Turbo Tax? For example, a bug that does allow a Qualified Charitable Contribution from DH's IRA (there is a very messy work around). Also I can't figure out how to get the $600 charitable deduction for non itemizers. It does not seem that Turbo Tax is up to date.
 
Even though I've got free TurboTax from Fido I'm still filing with paper and sending them a check. Always send them a check. No more refunds for me. Meanwhile I'll manually do the math and figure out the next few years. Know how taxes work and make them work for you.
 
... Also I can't figure out how to get the $600 charitable deduction for non itemizers. It does not seem that Turbo Tax is up to date.
I filled in my charitable deductions under Deductions & Credits, Charitable Donations. That amount showed up on line 12b, which was deducted from my AGI along with my standard deduction to give me my Taxable Income.

In the Federal Review, when I clicked on the Detailed tax breakdown, it showed what I entered for Donations to Charity with $0 for Allowed, but on the forms it did actually allow it. So this review detail is wrong, but my taxes are right, as best I can tell from triple checking that entry. Is this why you think it did not allow your deduction, or did you just not find where to enter it?
 
Also, it may have been mentioned on this site earlier, but the charitable donation is now deducted AFTER AGI, so it no longer helps with your ACA subsidy, IRMAA, or anything else using MAGI. In 2020 is was deducted before the AGI.
 
TurboTax can be a PITA. It was holding up because some K1 worksheet was not available yet but we don't have any K1s this year. Digging around I discovered that they had form partially filled out from previous years' K1 info including an entry for capital contribution. When I deleted the form everything cleared up.

I e-filed and so far everything is OK. The Fed was accepted and DC is pending. I couldn't print the DC filing since some forms are not available to print yet which seems odd.
 
I filled in my charitable deductions under Deductions & Credits, Charitable Donations. That amount showed up on line 12b, which was deducted from my AGI along with my standard deduction to give me my Taxable Income.

In the Federal Review, when I clicked on the Detailed tax breakdown, it showed what I entered for Donations to Charity with $0 for Allowed, but on the forms it did actually allow it. So this review detail is wrong, but my taxes are right, as best I can tell from triple checking that entry. Is this why you think it did not allow your deduction, or did you just not find where to enter it?

I could not find anywhere to enter it. In years past there was a specific question about the $300 for non itemizers but I have not seen that this year. I will try as you suggested.
 
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