IRS - You owe or Refund?


You all know the beginning of the year Taxes become due. You think we already paid enough to begin with. I'm only getting a grand this time since I went exempt a few times last year (lots of OT on a Pay Period). So, lets talk about what that money goes to. I just got my refund 5 minutes ago and threw the grand on the balance of my 6'er putting me just under 6k left.
To the people that owe, it would be nice to hear what got you owing in the first place. I had one year where I owed 3k, but it was removed since I tried filing taxes on paper (the free way) and made a few errors. Now I use TurboTax since I don't really have anything I could deduct and still use 1040EZ form.
Also, what's the deal with people waiting till the last day to file? I always wondered about that, since I file as soon as I get my W2 in the mail.
 

EsrTek

New Member
Unfortunately, being out of work 8 mo's of the yr, has really made my return awesome!!
I'm waiting for the 22nd to get my return deposited for a nice ring of 9.9k in the old wallet...too bad 4k of that is due for back rent :/
 
Unfortunately, being out of work 8 mo's of the yr, has really made my return awesome!!
I'm waiting for the 22nd to get my return deposited for a nice ring of 9.9k in the old wallet...too bad 4k of that is due for back rent :/
Well, at least you still came out pretty good. Any big purchases in the works?
 

bmw675

New Member
Refund for me. Because of this nasty winter, some is going towards a honda generator and snow blower. (For you CA folk, look it up...:rolleyes:). The rest I'll be responsible with.

Too bad I have to wait another couple weeks as some tax documents aren't required to be released until feb 18th.
 

JSP

Super Moderator
$2k refund. I need to adjust my stuff... Screw giving the government an interest free loan through the year. I'd rather break even.
 

leem00

Sport touring Member
Elite Member

bmw675

New Member
$2k refund. I need to adjust my stuff... Screw giving the government an interest free loan through the year. I'd rather break even.
I agree, in principle and technicalities. But when interest is pulling in a minuscule amount these days, I don't think it's nearly as important. Now if we were talking about more than a few grand in refund, I'm with ya.
 

Scott_Thomas

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Elite Member

Scott_Thomas

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Elite Member

JSP

Super Moderator
I agree, in principle and technicalities. But when interest is pulling in a minuscule amount these days, I don't think it's nearly as important. Now if we were talking about more than a few grand in refund, I'm with ya.
True... So either way, I'd rather have in my check than at the end of a year.
 

bmw675

New Member

bmw675

New Member
once you get up in these high tax brackets you get raped!!
I once had a neighbor that claimed, "if I'm paying more taxes, it means I'm making more money." Way too optimistic of a view. :jerk:
 

Scott_Thomas

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Elite Member



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