Filing taxes: Anyone else as hesitant as me to pull trigger

[RunningBum]

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.

 

[RobbieB]

I wait until early April in case corrected 1099 show up.

 

[audreyh1]

We usually need until April 1 to get complete foreign tax info.

 

[Midpack]

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 don’t get why they charge - snail mail has to be a bigger PITA for them.

I’ve only had to amend once in my life, but undoubtedly there are others here with more complex taxes, and legit reasons to wait.

 

[Souschef]

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.

 

[harllee]

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.

 

[Ronstar]

When I used to snowbird, I’d wait until I got back to Illinois to get my stuff together and get it to my accountant. So I used file early April. I’m not snowbirding this year, and it’s possible that I could get a refund, so I think I’ll get my stuff together and file ASAP.

 

[RunningBum]

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.

 

[Silver]

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.

 

[Aerides]

We have always waited till April, no need to bother prepping sooner, as we rarely get any refund (and while working, usually owed).

 

[jimbee]

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.

 

[pjm-7]

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.

 

[bingybear]

still waiting on some 1099's. Won't start until they are here

 

[pb4uski]

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.

 

[Kelor]

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.

 

[kimcdougc]

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

 

[RunningBum]

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.

 

[audreyh1]

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.

 

[brett]

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.

 

[aja8888]

I have to wait to file until almost April as K-1's are not out until late March.

 

[Time2]

I used to get mine done by the middle of Feb.
Then I bought some REITs, that year I got my taxes all done in late Feb because the 1099 was delayed. The accountant finished, I picked up all the tax forms, brought them home so my wife could also sign, and took the signed forms back to the accountant. When I returned home from the accountant, I checked the mail, It contained an amended 1099 form. I called the accountant and ask them to delay the eFile, because I just received an amended 1099.
They had already filed it. He prepared an amended return, gave it to me and said to wait a month before I sent it in, just to keep IRS from getting the timing of the two forms mixed up. He didn't charge me for the amended return.
Since then, I don't send my taxes in until the first week of April, and it has saved me grief.

 

[RunningBum]

Got rid of REITs and LPs in taxable a few years ago.

 

[Montecfo]

I usually manage to around 0 tax due, file in April. This year (since I retired) witholding took place earlier, and I made a large charitable contributions late in the year that was not in view while I was working.

So, big refund, want to file early. But need my 1099B. No rush till then. Probably next week.

 

[audreyh1]

The last couple of years I have done the annualized income method due to higher prior year income and taxes, and since most most of my income is paid out in December, the Jan estimated tax payment is the really big one. I usually target to have paid 91%-93% of my taxes in Jan - the income information is not 100% by Jan 15, so I leave a little wriggle room in my estimates. I prefer to wait until April 15 to pay the remainder.

 

[RetMD21]

I'm still waiting for Vanguard. The website says that 1099 Div should be out my mid February and it is the 15th! I'll probably wait until the first of the month to file just in case there is a revision.