Just filed my Federal tax return

freedomatlast said:
I waited forever to get my federal tax refund last year, so this year I made sure to owe. So I did my taxes last weekend and I'll owe about $8000. Instead of sending in a paper check that the IRS may lose, with my paper return, can I just pay electronically via EFTPS the same way I make quarterly payments?
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You can pay the IRS at this site: https://www.irs.gov/payments/direct-pay

You get to specify why you are paying the money. I've never used EFTPS.
 
I just filed my federal tax return on Turbo tax and they have a way to pay the federal through Turbotax. Very easy.
 
We usually wait until March, until all 1099 forms are in.
If we owe, will send in last minute, if due refund, usually apply to next year taxes.
 
SecondCor521 said:
That's why I wrote that it depends on the type of 1099.

1099-Bs, which is the type of 1099 you reference, is required to be sent by February 15th. At least as far as I can tell - the instructions on the IRS site about this kind of stuff is long and complex.

So your broker still has another 10 days or so to put your 1099-B in the mail to you (or file for an extension, which would give them another 30 days).

I agree and sympathize with you about the waiting part. My return this year might depend on my son's return (Form 8962 Line 2b), and I'm due a hefty federal refund as well. And said son is in college in Oklahoma so it'll be tricky to figure out how to work with him remotely to complete his return.
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The wait is over. The missing 1099B appeared on line and it showed my one sale of shares on an uncovered basis (Box E on Form 8949), as I predicted. Now I can get the process started, at least for my federal return, and get that hefty refund soon! :cool:
 
My nightmare from last year's tax season is continuing this year. After I filed early and got thrown arbitrarily into the error bin last year, a tax advocate at IRS retrieved my return and agreed that there was no error. So, the advocate processed it and told me that it may have been caused by the fact that my name was first on the return but our quarterly payment account at EFTPS was under my husband's name. For years this had been true without any problems. To avoid this problem, this year I put my husband's name first on the return. When I tried to e-file through TaxAct, the return was rejected presumably because the AGI or PIN was wrong for my husband. Trouble is neither were wrong. I use the same PIN each year and the same PIN for both of us. Additionally, there was no typo. I doubled checked the AGI at my IRS account using the final transcripts from last year. The only difference in the transcript and my submitted return was an extra $2.80 interest payment because of the delayed processing. The AGI was the same as submitted. So, there is no way either of the verification numbers is wrong. Yet the IRS says one of the two is wrong. My guess is that the software is spitting out the wrong error code due to the change in primary filer from last year or because the tax advocate at the IRS may have caused the PIN to get separated from the e-file when she manually processed it. I will need to snail mail the return since there is no way to correct something that is already correct.
 
Oh, so close .... I downloaded my last 1099 Composite (Schwab brokerage) on 2/4 and installed TurboTax Deluxe (Costco) yesterday, with the goal of e-filing by Sunday evening.

Nope. I was cruisin' until Foreign Tax Credit (I have VEU in a taxable Vanguard Account) and TTax kindly informed me that Form 1116 is not available yet. [-]No estimated date[/-] Estimated date 2/24. And the kick in the teeth is that I dread the Foreign Tax Credit section of TurboTax which always gives me conniption fits; I don't understand the calculation.

Sigh. All of my numbers look good otherwise. I ran the Federal Check and it had 8 flags, 6 of which were foreign tax. Fair enough. Another was a simple "fill in a state" and the weird one was filling in a child care tax credit amount on Schedule 8812 . ?!!? I file as single, no child care claims at all. I've never seen that form before.
 
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We e-filed in late January and were delighted to receive a sizable refund the first week of February. Took just over one week. Chose electronic deposit. Have heard that those requesting paper checks wait months, and much longer delays should you choose to file a paper return.
 
No fed refund for me yet after about 2 weeks (est is 1-3 weeks) and I wanted to check the status. The IRS2GO app seemed like the easiest way. You have to give your full SSN, filing status (single, MFJ, etc) and refund amount. I got a scheduled refund date of 2/16, and they noted I have an I Bond coming as well, about 3 weeks after the refund.
 
I just got my Fido 1099's today. I need one more from Amundi Pioneer. I owe a ton of money this year. I will file as soon as I get the data, and set up payment through EFTPS and the CA equivalent.
 
I e-filed the federal return on 2/4, and got my small refund in the bank a week later on 2/11. Great!

But I ran into something interesting on the state filing. Before the end of last year, I did withholdings from a Fidelity IRA withdrawal to cover my tax liability (with a little extra) for federal and state. I basically only pulled enough from Fidelity to cover both, with the state withholding being about 30% of the withdrawal.

I did this since Vanguard will not withhold for my state (Virginia). The problem is H&R Block said since the state withholding on that 1099-R was more than 25% of the withdrawal, I needed to file the state by mail. I did so and am waiting to see if there are any issues.

I'm not sure where this requirement comes from - the state or a federal regulation. I googled for a while but couldn't find where this originated.
 
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I think this sets a new record for speed. We e-filed federal on Feb. 4th, the refund is to be credited tomorrow, the 14th, so ten days.

Alas, the fed gives and the fed takes away. The amount of the refund is only a bit more than DW's quarterly Medicare payment. The difference is just about enough to take her out to lunch.

Okay, it's mental accounting and I know it. Money is fungible, and we'd planned on the Medicare payment anyway, but it's easier to think of it that way.
 
mystang52 said:
Wow; efiled Fed 2/6, refund due to be direct-deposited 2/14. That's fast!
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Yepp! Same here. This is actually sooner than I have ever received the "refund" deposit than in years. past. Well, mine is due 2/16 as the data feed must have already been sent to my credit union post-dated. It says pending for 2/16 on my account deposits page.

My efile was accepted 1/27 and I don't exactly have simple tax filings... own 2 businesses, the added child tax credit that was a net new filing this year and other various situations. I will need to amend my state taxes as I forgot to input our 529 contributions (which amounts to receiving a $250 credit) but I will wait to file that until after my state refund hits the account. It says state was accepted a day or two after my federal was.

And here I was seeing "there will be delays this year" all over the internet which further proves 'nobody knows nothin!'
 
kgtest said:
Yepp! Same here. This is actually sooner than I have ever received the "refund" deposit than in years. past. Well, mine is due 2/16 as the data feed must have already been sent to my credit union post-dated. It says pending for 2/16 on my account deposits page.

My efile was accepted 1/27 and I don't exactly have simple tax filings... own 2 businesses, the added child tax credit that was a net new filing this year and other various situations. I will need to amend my state taxes as I forgot to input our 529 contributions (which amounts to receiving a $250 credit) but I will wait to file that until after my state refund hits the account. It says state was accepted a day or two after my federal was.

And here I was seeing "there will be delays this year" all over the internet which further proves 'nobody knows nothin!'
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I hope my tax refund comes back that fast but I fully expect that it will. I filed my return this last Friday (i.e., 2/11) through the Goodwill Industries Military Tax Service. I LOVE this service! They do all your taxes for free and you get the returns quickly. Even better, they know how to complete the unique taxes of military warfighters, vets and retirees and answer all your tax questions along the way. I've been using this service for almost 20 years now. I threw 'em a couple "curve balls" this year with no problems at all.

Military retirees and vets - if you're looking for a great tax service to use at no cost to you, this one ought to "fill the bill." ;)

P.S. I've routinely received my tax refund within 8 to 10 days using this service.
 
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The fastest refunds for us too.
We E-filed on Jan 31st, received the state refund on Feb 3rd, Fed cash refund on the 4th and 5K in paper I-bonds on the 14th.
The I-bonds came in the following denominations - 6($50), 1($200), 1($500) and 4($1,000) each mailed separately, so 12 envelopes!
 
Still waiting for TurboTax form 1116 and 2210 corrections plus final NC state (might be OK now). Can't file until then. I may be mistaken, but I don't remember waiting on TT this long before 2020 and 2021. Jealous of those who can file now...
 
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We did a lot of bank promo offers last year so I have been waiting for all the 1099s to be posted online or show up in the mail. Most were posted online before Jan 31. One that I expected to be a 1099-INT is actually a 1099-MISC instead. Not a problem, I moved it in the tax software to Other Income.

Then there was one last one from a bank where we had already closed the account. Nothing posted on their website and nothing in the mail. So I checked their online statements and the $300 bonus is called a Promotional Rewards Credit. Also, the last statement says YTD Interest paid as $0.00. Nice! Usually this is how it's posted for a credit card promo bonus, but this was a checking account.

On the Fidelity website the $100 bonus that many of us got in Dec for opening a new account is showing as "Promo Offer" and not interest. There is no tax form posted.

I'm ready to file but we owe this year so I'm not in a hurry. I had converted a Traditional IRA to Roth and also had an RMD from an Inherited IRA. I withheld most of the RMD to cover the extra tax on the conversion and came very close in my estimate. We owe less than $100.
 
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Why do so many Forum members have refunds? I can't ever remember getting a Federal refund. I usually try to pay in just enough to avoid an underpayment penalty.
 
Normally I pay in just the right amount... but I started a business and had massive losses (expenses) that triggered the refund, and paid in too much at the beginning of the year not really knowing that these losses were coming. Last year I think I had a refund of like $100 for fed and $50 for state.
 
harllee said:
Why do so many Forum members have refunds? I can't ever remember getting a Federal refund. I usually try to pay in just enough to avoid an underpayment penalty.
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I used to plan on the biggest refund I could get short of any penalties, but with cash earning next to nothing there's no point for now. So I try to hit it right on the money, and I came VERY close this year with Fed and State - respectively $5 refund and $17 owed it appears. :D
 
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I make even quarterly payments to put me in safe harbor, rounded up to the nearest $100. I was going to owe $88 fed, but when I decided to pay extra to get an I-bond with a refund and I overshot by a few hundred to make certain I'd get the full $5K bond. So they got to use about $500 of my money for about a month. For state my taxes were a little less this year so I get a small refund.
 
harllee said:
Why do so many Forum members have refunds? I can't ever remember getting a Federal refund. I usually try to pay in just enough to avoid an underpayment penalty.
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During my working years, I very rarely got a federal refund. Only if I made a mistake somewhere when it came to paying estimated taxes, or in 2001 when there was that big tax law change midyear. And after I FIREd, I never got one because I had zero taxes withheld from any income.

But in 2020, I got a small refund (rolled into 2021) because I didn't receive the $600 EIP, so it came in as a tax credit. Then, in 2021, the ARP increased the ACA premium subsidy midyear, but I couldn't collect the additional subsidy for the previous months until tax time. That, and I had an issue with my ACA application and premium subsidy in January, so I paid the full premium amount. Together, that meant my net premium subsidy from Form 8962 was large, much larger than my tax liability. Hence, a big refund, more than I want to roll into my 2022 taxes.
 
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