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Lardalish
Registered User regular
Registered User regular
EDIT: THIS IS NOW THE TAX QUESTIONS THREAD! Feel free to ask whatever questions you have and Im sure someone in the PA community can help you out!
Ok so I didn't see a tax thread and since search is down, Im sorry if there is a thread for this already.
I haven't gotten my tax forms from either of the places I worked at last year. One of them I know has my right info because they sent the forms just fine last year, but the other one was new. Basically, when should I start worrying that I don't have my forms yet? I hadn't really thought about it until I started seeing people posting on Facebook about how they've already done their taxes. I vaguely remember reading something saying that if I don't have them by January 20th I should ask, but I'm not about to pester my employers if thats not right.
Anyway, thanks in advance.
Ok so I didn't see a tax thread and since search is down, Im sorry if there is a thread for this already.
I haven't gotten my tax forms from either of the places I worked at last year. One of them I know has my right info because they sent the forms just fine last year, but the other one was new. Basically, when should I start worrying that I don't have my forms yet? I hadn't really thought about it until I started seeing people posting on Facebook about how they've already done their taxes. I vaguely remember reading something saying that if I don't have them by January 20th I should ask, but I'm not about to pester my employers if thats not right.
Anyway, thanks in advance.
Lardalish on
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Also, if you just wanna turn this into the tax questions thread thats fine with me. I can't really make a good OP but Im ok with everyone just asking questions here.
Jordan of Elienor, Human Shaman
Ah fantastic! Got a couple for you:
I'm a first time homebuyer (bought in march of '10) , I claimed the 1st time homebuyers credit and used the money to improve the house. Are there any deductions/concerns I should be aware of filing for the 1st time? I know about mortgage interest being deductable, but are things like major home improvements or commutting miles deductable?
Any advice is appreciated!
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You can never deduct commuting costs if you're an employee of a business.
There are specific tax credits for improvements, generally for energy efficiency, and that varies highly by locality.
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The newest and bestest being the American Opportunity Credit.
edit: Also there is a big difference between a deduction and a credit, and it's important to be clear on the difference.
edit to the edit: Yes, you can deduct (a very small amount of) tuition expenses, but in almost every case you're better off taking one of the available tax credits.
You have to consent to not receive the paper copy. My employer asked this year, but I didn't opt out because I want them to have to pay to mail it :P.
I think last year I was better off taking the above-the-line deduction for tuition but I don't remember why. I think a big part was that it got my AGI down which then flowed through to my OR return. It's pretty case-by-case though.
Supposedly due to the tax cuts being kept for two more years?
It sounds like they may not even report those child care costs (most of the time the kid's with a nanny, which would be the bulk by far). Supposing they don't report is it even going to matter if we list it all as paid by one of them instead of splitting it out?
IRS says they'll start processing e-files for 1040 Schedule A returns (itemized deductions) on Feb 14, and all the major vendors will hold your return until then if you go ahead and do it now. 1040EZ returns can file whenever.
I signed in with the IRS and they sent my tax information over. Except now my school needs hard copies. I did this through H&R block last year and they want to charge me now to send me my tax forms back. I have my W-2s. Is there any easier/cheaper way to get this thing expedited so I can get school paid for? I don't even understand why they need to "verify" anyway. The information I gave them came directly from another branch of the government, not from me.
Also, I got a note a few weeks ago stating that they just now noticed I got tax free pay for being in a combat zone like 6 years ago (our boat pulled into the PI or something, can't remember which specific time they mentioned in the paperwork). I just have to give them some answers like who, what, when, where, and how hard. Anyone know if this is just standard, or should I be suspicious that they are suspicious?
I am not a tax guy, I have no idea whats going on really even though Im 25 and REALLY should. So, this is the first year where Ive worked full time for 90% of it. Granted it was only at $8.50 and $9 an hour, but I guess paranoia about being broke as hell has come over me.
Because I dont reall'y know how taxes work, I wanna know how much do you need to make per year before you need to pay taxes? Up to this year (and I imagine including this year) Ive only gotten refunds, but through TV and movies and such talking about how audits happen when you don't pay then government enough, I kind of want to know when I need to pay them.
I really only make enough to support myself with a few extras here and there (Im talking, eating fast food and maybe playing an MTG Standard tournament here and there). When I tried to google this all I could find were things saying when you need to file your returns. I just want to know at what point do I need to start giving THEM money?
Jordan of Elienor, Human Shaman
I'm doing my fiance's taxes, and her W2 has no employer state id number. Some of the people where she works are god damn idiots, so I assume they just fucked up and didn't enter it on her W2. Is this safe to say, or am I missing something?
Also, is there a free resource to look this information up, or does she need to contact her HR department?
As for your tax inquiry, the standard deduction for the 2010 tax year is $5700 and the personal exemption is $3650. Assuming you are a single person who is not a dependant you should get both. This will knock out $9350 of taxable income from the start. Since I don't know your current situation, lets assume these are your only deductions. To guesstimate your yearly income lets multiply $8.75 by 52 weeks times 90% times 40 hours a week. We get $16,380 for the year with this estimate. Subtract your deduction and we get $7030 that needs to be taxed. The tax rate for this income is 10% and we get $703 due for taxes. If you already had more money withheld on your paycheck then you should get a refund, if not, then you owe taxes.
Keep in mind this is a worst case scenario assuming you don't fit the requirements for any other credits or deductions.
She'll need to hassle the company about it. It's on them to furnish W-2s with correct information, so even if she just gives up and files without having the number I doubt she would get in any trouble.
Thanks for the heads up. Yea. I'm a 1040EZ because I just don't have much to deduct. Single, No house..ect .ect, Some charitable donations but its far below the standard deduction.
Well, you'll want to get that taken care of, but you won't be in deep shit. There are penalties for not filing, and I could be wrong about this, but I think the penalties only apply if you owe. If you are due a refund, I don't think there will be any penalty (again, I'm not an accountant).
I'd recommend just going in to H&R Block (if that's who you use) and getting both your 2009 and 2010 returns done at the same time. I don't know if they'll charge you any less, but it would be more convenient for you.
Same here. I thought by law it has to be out SOON though. I believe someone told me the 27th. Which would be today actually.
Postmarked by the 31st. That's the only requirement.
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Home Inspection and Wind Mitigation
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Afaik, that is a no interest loan from the government so...no? They want their monies back.
I have never e-filed before. This is mainly because I'm not going to spend any money to do so. I always see that the IRS and the state will display some programs that offer e-filing for free, but when I go to investigate them, it always looks like there either some ridiculous hoop to jump through or some scammy sort BUT that will make you pay anyways.
My taxes aren't complicated and I don't itemize, so far it just seems easier to do it by paper. Is there any advice for e-filing or should I just keep doing the paper way? I honestly just don't get why they don't have an official online e-file web page for either State or US taxes.
My state is GA if that helps.
You should (as in, they have to send you one), but that doesn't guarantee that you will. If you don't, you basically just need to try to get it (call, email, whatever). Then if you still can't get it, you submit your return with a substitute W-2, where you basically fill in the numbers yourself (ideally using your last pay stub) and explain why you couldn't get a real one. No big deal, but obviously it's easier to get the real one.
I've had the same complaint in the past, sowhat I did last year was use freefilefillableforms.com. It's honest-to-goodness free, but you have to fill in the forms manually (as opposed to other free sites, where they ask you questions and fill out the forms for you). If your return isn't too complicated, though, filling it out yourself really isn't hard.
And if you have an AGI less that $58,000, there are at least several sites that let you e-file for free (see http://www.irs.gov/efile/article/0,,id=118986,00.html).
Tuition, room, & board during my four undergraduate years were largely paid for by a handful of scholarships. Similarly, in graduate school the university picked up my tuition and paid me a stipend on top of that. Of course my stipend was taxable, and (as I always understood it, at least) the portion of my scholarships above and beyond the cost of tuition of was taxable as well.
Given my situation, I was never eligible for any of the college tax credits, was I? I don't feel like I ever owed more in taxes than I ought to (heck, since having a child, my wife & I basically don't owe anything any more), but I've always been curious if I've been leaving some money on the table.