Official tax refund thread vol. for the 2015 tax year

PrimeTimeBoy said:
How did you get the no health insurance fee waived? I always thought you needed the health marketplace exemption code. My friend filed yesterday and said all he did was answer a yes or no question or two about his insurance being not affordable through work and it was automatically waived on turbo tax. He made it sound that simple.
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Yeah Turbo Tax asks you what months you were covered and the months you weren't covered you can put it was too expensive. 
 
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Whether you do it yourself or have a tax "professional" enter your info... The result should be the same

There is no such thing as "I can get you more" etc
 
I had only 193 transaction but paypal still sent me a 1099k. This happen to anyone else?
 
ii FLaSh ii said:
Whether you do it yourself or have a tax "professional" enter your info... The result should be the same

There is no such thing as "I can get you more" etc
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Exactly lol all that means is I can lie on your taxes and risk you getting audited.
 
BeezyGotSole said:
Exactly lol all that means is I can lie on your taxes and risk you getting audited.
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Yea its too funny when friends family tell me these things... I dont wanna seem like a know it all but I tell them once and that's it... Anyone can lie, but if you get audited you're ******... Then was it worth the extra $200 :lol:

They talking about "oh I did donations", "claiming random kids" :lol:

Donations are only useful if you're itemizing deductions which majority of the people dont because it won't exceed what the government is already giving us as a standard deduction
 
ii FLaSh ii said:
Yea its too funny when friends family tell me these things... I dont wanna seem like a know it all but I tell them once and that's it... Anyone can lie, but if you get audited you're ******... Then was it worth the extra $200 :lol:

They talking about "oh I did donations", "claiming random kids" :lol:

Donations are only useful if you're itemizing deductions which majority of the people dont because it won't exceed what the government is already giving us as a standard deduction
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Yup lol heard someone say that "oh they got me a lot back do to donations" :lol:. I just let people rock, nothing that cpa can do that you cant do lol. Yup if you have a mortgage you can itemize if not there is no point . I had to itemize this year because of my house.
 
BeezyGotSole said:
Yup lol heard someone say that "oh they got me a lot back do to donations" :lol:. I just let people rock, nothing that cpa can do that you cant do lol. Yup if you have a mortgage you can itemize if not there is no point . I had to itemize this year because of my house.
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Yup, biggest reason why you should itemize... Then stuff like donations and other smaller things come into play

But people think $500 of donations gonna benefit them :lol:
 
Since we're on the topic, here are the things that are "above the line deductions" that can be used to lower your tax burden and in addition to the standard deduction:
 
Whats the most a single/no kids individual can make yearly before owing at the end of the year? If everythings default and you claim zero no dependence?
 
Last year, I had to pay over $1000 in fines for one of my dependents who did not have health insurance.  I was told I had to pay 1% of my income, was that correct?

I honestly don't understand how so many get large refund amounts. I have 2 dependents, and I barely get anything back.  And I pay close to $30k in federal/state taxes yearly (and that's with 2 exemptions) . Any pro's out there willing to give some advice?
 
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I filed with Turbo Tax and it cost me $0. This was for both federal & state. I got money back from my federal taxes but ended up owing the state a small amount. My returns were accepted as of yesterday so now the waiting game happens. Is there a chart that says when to expect your refunds based on the date your returns were accepted?
 
maddog345 said:
I filed with Turbo Tax and it cost me $0. This was for both federal & state. I got money back from my federal taxes but ended up owing the state a small amount. My returns were accepted as of yesterday so now the waiting game happens. Is there a chart that says when to expect your refunds based on the date your returns were accepted?
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https://www.irs.gov/Refunds

or download IRS2go app to check your status. They should give you ETAs.
bwsteg said:
 
Last year, I had to pay over $1000 in fines for one of my dependents who did not have health insurance.  I was told I had to pay 1% of my income, was that correct?

I honestly don't understand how so many get large refund amounts. I have 2 dependents, and I barely get anything back.  And I pay close to $30k in federal/state taxes yearly (and that's with 2 exemptions) . Any pro's out there willing to give some advice?
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If you're getting a 1099 and not a W-2 is the only thing I can think of off top. How many are you withholding ?
 
Pdino said:
 
https://www.irs.gov/Refunds

or download IRS2go app to check your status. They should give you ETAs.

If you're getting a 1099 and not a W-2 is the only thing I can think of off top. How many are you withholding ?
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I get my w2's yearly from my employer and withholding 2 on w4

I always ask the person who does my taxes, why I barely get anything back while others who barely contribute gets large amounts - and his response has always been "those who make more pay more"
 
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bwsteg said:
 
I get my w2's yearly from my employer and withholding 2 on w4
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2 is the correct withholding for you. In general, the more $ you make is the more you're going to have to owe. If you're making <6 figures and if you're contributing to 401k or retirement vehicle I would recommend getting a second opinion on your taxes. 
 
Pdino said:
 
2 is the correct withholding for you. In general, the more $ you make is the more you're going to have to owe. If you're making <6 figures and if you're contributing to 401k or retirement vehicle I would recommend getting a second opinion on your taxes. 
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Thanks for the info and I will get a 2nd opinion...

He's always telling me to go the itemization route because it makes no sense why someone with my salary would "use" the same standard deduction as a person making much less. However I don't save any receipts and I don't want to get into any problems with the IRS.
 
I went to h&r block on Friday
Just to see if numbers matched up
They did
So right before he pressed send to efile
I told him hold up
I'll be back I got an emergency(had my girl fake call)
Told him I'll be right back
Went home and efiled with turbo tax :lol:
Looks like my days of big returns are over
Even with 2 kids
I'm only getting 819 back for federal
And zero state
Though i never get a big amount from state
Usually like $19
Last year was like $49
I guess I should be glad cause I get more money in my checks throughout the year
But not getting those 3-4 racks is kinda a letdown
I am making substantially more now so I can't be tooooo mad though
 
Im hoping I didnt mess up on my taxes again this year. Last year me and my wife ended up owing like $2700.

I messed around and didnt change my withholding from when I was the only one working in 2013, we got married earlier in the year. I didnt change it till like April of 2015, after I did my taxes and saw what the issue was.

We well over the 100k mark with joint wages so i was told its better to do like single and 1 or zero withholding for both of us.

As far as I know we dont have any other deductions besides student loan interest but even that is capped.

Tax time has been very depressing the last two three years for me. Days of refunds are gone until I can buy a home or have kids. Just hopin I dont owe anything and can break even.
 
Submitted my TurboTax return yesterday.. got accepted by Federal and State within 30 minutes. :smokin

Gimme dat direct deposit, and keep da change ya filthy animal
 
I'm sick. I had Obama care plan for half the year and was paying for my correct earnings. Got new job made double now have to pay back 1000 in Obama care credits
 
spizike231 said:
4318MichaelJohnson4318 said:
I'm sick. I had Obama care plan for half the year and was paying for my correct earnings. Got new job made double now have to pay back 1000 in Obama care credits
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:x :x :x

My biggest fear is owing the Feds come tax time.
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Yooooooo getting that letter in the mail that u may owe is the worst
I had that letter twice
Had to show proof of my kids living with me and the whole 9
The first time was kinda hard
Cause my kids weren't in school yet so really no paperwork for my kids to show proof of address
Had to get insurance documents and other things as proof of address for them
Second time was easier since they were in school
Both times it was my kids mom tryna claim them
Thankfully I was able to provide proof and not owe
 
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Just tried to file electronically with H&R but good ol TX won't allow me to pay for the filing out of my return so I gotta pay out of pocket....blah
 
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