Tax return....

Just finished my federal tax forms. Ugh. We owe. But that's because we had a some capital gains from sale of stocks. All y'all not selling will be in for a surprise when ole Joe's puppet masters cranked up the capital gains tax rates this year! We didn't owe a lot as we would have otherwise got a bit back without our gains. I would much rather owe a couple hundred at the end of the year then be owed.

BTW, Texas has NO state income tax! Take that bitches!

There has not been a tax rate hike for 2021 with the potential for one remaining unlikely.
 
There has not been a tax rate hike for 2021 with the potential for one remaining unlikely.
He pledged to raise taxes. Give it time. First the "big corporations" and the "wealthy" and then you and I. Besides, they are inflating the money supply so it has no value any more. If they retain the House and Senate in 2022, all the taxes are going up.
 
He pledged to raise taxes. Give it time. First the "big corporations" and the "wealthy" and then you and I. Besides, they are inflating the money supply so it has no value any more. If they retain the House and Senate in 2022, all the taxes are going up.

The Trump Trap set up for the anticipated democrat administration taking over after Donald was done was the very low tax rates from the TCJA. There is only one direction these can go to fund the social programs and what not that were sure to come after Trump slashed as much as he could. But nothing for 2021 which was my point.
 
Anyone else still not get their tax return? I already blew my load on an auxiliary battery setup for my shagging van with the money, but the IRS appears to be taking their sweet f***ing time cutting the check.

Between the extension to 5/15 deadline and IRS staffing issues, I wouldn't be surprised if returns take a month+ for paper checks. Direct deposit might speed that up, but I heard it is still taking up to 3+ weeks on those as well.
 
Anyone else still not get their tax return? I already blew my load on an auxiliary battery setup for my shagging van with the money, but the IRS appears to be taking their sweet f***ing time cutting the check.

If you haven't already, check the status of your IRS refund here: Refunds | Internal Revenue Service

We have seen an unusual number of returns still "in process" due to errors reporting the stimulus payment amounts received. In more rare situations, returns have been held up by the IRS as they double check birthdays, or are picking up on income reported to the IRS but omitted from a return.

If it's been more than a reasonable time since your returns were received but not processed, try calling (800) 829-1040. Expect long wait times but that is the fastest way to get to the bottom of this if the link above is still showing "in process".
 
Anyone else still not get their tax return? I already blew my load on an auxiliary battery setup for my shagging van with the money, but the IRS appears to be taking their sweet f***ing time cutting the check.

Between the extension to 5/15 deadline and IRS staffing issues, I wouldn't be surprised if returns take a month+ for paper checks. Direct deposit might speed that up, but I heard it is still taking up to 3+ weeks on those as well.

I filed my mother's return (mailed, problems with her e-filing) in late March. All she was getting was her $600 stimulus payment which she had not received.

She received her direct deposit the middle of this month
 
I filed my mother's return (mailed, problems with her e-filing) in late March. All she was getting was her $600 stimulus payment which she had not received.

She received her direct deposit the middle of this month

IRS was funny this year. Along with the push of the deadline, they also pushed the start of the processing. I usually file mine as soon as I get my W-2, but was told by the IRS that they were not accepting tax returns when I tried to file back in Feb. Not sure how long that lasted, but could also be part of your delay as well on the paper end. They were probably sitting on a mountain of backlog as soon as they officially opened the flood gates. And that's not even to mention all the prior year's extensions they had to try to process on a skeleton crew in the midst of 2020 lockdown.
 
IRS was funny this year. Along with the push of the deadline, they also pushed the start of the processing. I usually file mine as soon as I get my W-2, but was told by the IRS that they were not accepting tax returns when I tried to file back in Feb. Not sure how long that lasted, but could also be part of your delay as well on the paper end. They were probably sitting on a mountain of backlog as soon as they officially opened the flood gates. And that's not even to mention all the prior year's extensions they had to try to process on a skeleton crew in the midst of 2020 lockdown.
Interesting. I did had both my Corp & personal filed by March 1 this year, no issues at all. Then again I haven’t received a refund in 20+ years.
 
I got auditing so they are keeping my $3000.....for now :-( per MA law, I worked in MA "12" days.....since I was working there 1 day a month for the 7 months leading up to covid shutdown....Hopefully will be 100% virtual in NH once all is said and done.
 
Interesting. I did had both my Corp & personal filed by March 1 this year, no issues at all. Then again I haven’t received a refund in 20+ years.

Same with me. They don't scrutinize payments as hard as refunds. They can always go back and tell you that you owe more on a light payment. They'd have a harder time asking for money back for an over-refund.
 
I’m still waiting on my federal return that I filed on 4/10. I usually file as soon as I get my w2 but I wasn’t hard up for money due to my leach of an ex gf leaving. Waited on hold for an hour to speak to someone. They said there was some glitch with the stimulus payments that affected my return. Oh well, guess I’ll keep waiting. 🤷🏻‍♂️
 
I’m still waiting on my federal return that I filed on 4/10. I usually file as soon as I get my w2 but I wasn’t hard up for money due to my leach of an ex gf leaving. Waited on hold for an hour to speak to someone. They said there was some glitch with the stimulus payments that affected my return. Oh well, guess I’ll keep waiting. 🤷🏻‍♂️
We e-filed on 3/7, just got our return yesterday. For us it was the recovery rebate credit that slowed it down.
 
I’m still waiting on my federal return that I filed on 4/10. I usually file as soon as I get my w2 but I wasn’t hard up for money due to my leach of an ex gf leaving. Waited on hold for an hour to speak to someone. They said there was some glitch with the stimulus payments that affected my return. Oh well, guess I’ll keep waiting. 🤷🏻‍♂️

Gotta distribute that free money to people.....then they realized they didn't have money to send you, so they had to go and print it.
 
If I knew it would take this long for everyone to get their money, I would have delayed my tax payment until August.

If I read that portion of the tax code correctly, even if you do file for an extension and get to delay paying your taxes until August, you may avoid a penalty but still pay interest on the amount owed.

If so, you would be paying the gubmint extra money to delay paying them on time.
 
Anyone else still not get their tax return? I already blew my load on an auxiliary battery setup for my shagging van with the money, but the IRS appears to be taking their sweet f***ing time cutting the check.
I didn’t get my allowance until a couple of weeks ago. Filed in March.
 
If I read that portion of the tax code correctly, even if you do file for an extension and get to delay paying your taxes until August, you may avoid a penalty but still pay interest on the amount owed.

If so, you would be paying the gubmint extra money to delay paying them on time.

The extension request filed on Federal form 4868 is only an extension of time to file, not pay. Your taxes are still due quarterly with any balance remaining due on April 15th (May 17th this year). Pay in August and you'll owe late pay penalties and interest. The extension may help avoid a failure to file penalty but that will depend on the amount you end up paying in August.
 
My brother received a letter from the IRS stating that he had miscalculated his taxes. He is subject to penalties including seizing his house and other assets as well as garnishing his wages.

They say he (his cpa) miscalculated his taxes by 77 cents. They added on another 30 cents for interest and a penalty of $40 on top of that. So they sent him a bill for $41. He says it is just cheaper to just pay the blood suckers. I wonder how many other people across this country are being strong armed by these people. Another family member still hasn't received his refund even though he filed in March. I wonder if they will pay him that much interest? /rhetorical sarcasm
 
My brother received a letter from the IRS stating that he had miscalculated his taxes. He is subject to penalties including seizing his house and other assets as well as garnishing his wages.

They say he (his cpa) miscalculated his taxes by 77 cents. They added on another 30 cents for interest and a penalty of $40 on top of that. So they sent him a bill for $41. He says it is just cheaper to just pay the blood suckers. I wonder how many other people across this country are being strong armed by these people. Another family member still hasn't received his refund even though he filed in March. I wonder if they will pay him that much interest? /rhetorical sarcasm

Has be brought this to his CPA for resolution? The CPA should at least pay this penalty for him.
 
I honestly don't know who or what is worse.

We recently got two 3-page letters from the IRS, and yesterday received a US Treasury check for $2.73 from what we presumably "overpaid" in 2019.

I trust this about as far as I can throw a cheesecake under water. I can't fathom how much that "check" cost to snake through the system. :eek:
 
Has be brought this to his CPA for resolution? The CPA should at least pay this penalty for him.

My brother received a letter from the IRS stating that he had miscalculated his taxes. He is subject to penalties including seizing his house and other assets as well as garnishing his wages.

They say he (his cpa) miscalculated his taxes by 77 cents.

Something doesn't sound right. $0.77?? I haven't seen the IRS determine taxes to the penny with rounding eliminating that sort of nonsense. And an immediate threat of garnishment of wages and assets? Something doesn't sound right... What's the rest of the story?
 
Something doesn't sound right. $0.77?? I haven't seen the IRS determine taxes to the penny with rounding eliminating that sort of nonsense. And an immediate threat of garnishment of wages and assets? Something doesn't sound right... What's the rest of the story?

It "sounds" like that is just their form letter which they use for everyone, no matter how much or how little they owe.
 
My Stepmother who passed away in March of 2020, had her 2019 tax "reviewed" a year ago and we still have heard nothing. Have fun and try and call and find someone who can help. I can't close her estate until the IRS does it's job. They are way behind in processing.
 
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