Official tax refund thread vol. for the 2015 tax year

vaphenom06 · Feb 2, 2016

I've been doing some research on the EIC and TT and I shouldn't have to upgrade, but I'm still confused exactly on how/when I receive the credit. Is it a separate amount that the IRS pays and how would I track that as compare to the actual refund? It says that I just have to file my tax return and it supposedly will submit the EIC to the IRS simutanelousy. I just don't want to make a mistake and file without getting the credit properly.

highrep87 · Feb 2, 2016

I was cruising through my Turbotax & it all went downhill at the heathcare portion. I signed up for health insurance from my job from June (eligible date to apply). They charge fees from Jan to May ($311). Now some of you guys just checked that you couldn't afford it and it got waived? It couldn't been that easy without repercussions? I chicken out and answer correctly.....0 charge until they end and turbotax said I had to upgrade because I had a HSA account.... Then another $34 fee for using refund to pay state tax...

trunks206 · Feb 2, 2016

heLiumcLinton said:
trunks206 said:

vaphenom06 said:

I'm using the basic package on Turbo Tax and it says I qualify for over 2 grand on the Earned Income Credit and 1000 on the Child Tax Credit. But it doesn't show me HOW to get it. Do I need upgrade to Turbo Tax Deluxe or something? I'd hate to leave over 3 grand on the table.

Click to expand...

You over here risking losing 3000 by asking NT for advice advice. You're backwards hustling. Pay the damn 29.99.

Click to expand...

paying $30 aint giving you more than you are owed with the IRS

What a nothing response. Clearly playing $30 isnt going to get you more than you're owed but the IRS doesn't fill out your taxes...you do. If you mistakenly fill your taxes or fail to claim a deduction they wont pay you what you could be owed.

If you got a serious question about your filing options NT is not where you should turn to especially as the site the person in question was using allowed you to speak with a professional with their upgraded service for only $30.

Tons of never you could call (like the IRS themselves) if you dont want to spend but you would think **** like Gold St Capitol would teach people for getting advice on their money from NTers.

heliumclinton · Feb 2, 2016

trunks206 said:
What a nothing response. Clearly playing $30 isnt going to get you more than you're owed but the IRS doesn't fill out your taxes...you do. If you mistakenly fill your taxes or fail to claim a deduction they wont pay you what you could be owed.

Ok dude

You advocating someone waste money on a scam that preys on people's insecurities.

You don't need to pay $30 to get a damn Earned Income Credit of all things, seriously. One of the main components of a standard deduction, you shouldn't pay for that

townbidness · Feb 2, 2016

heLiumcLinton said:
Ok dude

You advocating someone waste money on a scam that preys on people's insecurities.

You don't need to pay $30 to get a damn Earned Income Credit of all things, seriously. One of the main components of a standard deduction, you shouldn't pay for that

Unless you made less than $15,000 the earn income credit doesnt apply to you.

View media item 1894831
Go to deductions and credits, there all there.

trunks206 · Feb 2, 2016

heLiumcLinton said:
Ok dude

You advocating someone waste money on a scam that preys on people's insecurities.

You don't need to pay $30 to get a damn Earned Income Credit of all things, seriously. One of the main components of a standard deduction, you shouldn't pay for that

No Im suggesting that if he was that confused he should seek some place with professionals instead of coming to NT. The last line of my reply

trunks206 said:
...
you could call (like the IRS themselves) if you dont want to spend but you would think **** like Gold St Capitol would teach people for getting advice on their money from NTers.

nrg1604 · Feb 2, 2016

Not sure how turbo tax is a scam. It's a service you're paying for someone to do something you don't want,or can't do. Obviously if you knew how to properly file a tax return and all the rules and regulations of taxation, you can do free version. But if you're not, you're paying for a service of them doing it for you. That's like saying restaurants are scam cause you can cook for yourself at home.

sundoobie · Feb 2, 2016

You don't need to use any tax software.. just a calculator and your brain. All the forms and instructions PDFs are on the IRS website.

NT is not where you should turn

Why? Some of us are CPAs in Public Accounting and have countless years in this practice. Not saying you should take anyone's advice without double checking but it's a start.

I've been doing some research on the EIC and TT and I shouldn't have to upgrade, but I'm still confused exactly on how/when I receive the credit. Is it a separate amount that the IRS pays and how would I track that as compare to the actual refund? It says that I just have to file my tax return and it supposedly will submit the EIC to the IRS simutanelousy. I just don't want to make a mistake and file without getting the credit properly.

EIC is a refundable credit meaning it gets added to your over payment (refund). You can either elect to calculate the credit yourself or have the IRS figure it out. IRS has a guide on their website to determine eligibility.

https://www.irs.gov/Credits-&-Deductions/Individuals/Earned-Income-Tax-Credit/Use-the-EITC-Assistant

$tatus $ymbol · Feb 2, 2016

All this fuss about simple turbo tax. Ya'll will argue over anything on here :rollin

yanky · Feb 2, 2016

Just came across this site on slickdeals. Anyone use it before? This vs turbotax?

http://www.freetaxusa.com/more_information.jsp

http://slickdeals.net/f/8479889-free-federal-tax-e-file-12-95-state-freetaxusa

capital sb · Feb 2, 2016

yanky said:
Just came across this site on slickdeals. Anyone use it before? This vs turbotax?

http://www.freetaxusa.com/more_information.jsp

http://slickdeals.net/f/8479889-free-federal-tax-e-file-12-95-state-freetaxusa

Yes I filed with them and get my federal return tomorrow. My mom has used them the past 2 years.

10% off code is FREETAXUSA10

yanky · Feb 2, 2016

BeezyGotSole said:
yanky said:

Just came across this site on slickdeals. Anyone use it before? This vs turbotax?

http://www.freetaxusa.com/more_information.jsp

http://slickdeals.net/f/8479889-free-federal-tax-e-file-12-95-state-freetaxusa

Click to expand...

Yes I filed with them and get my federal return tomorrow. My mom has used them the past 2 years.

10% off code is FREETAXUSA10

Repped. Just curious this is the first year I'll be filing taxes instead of having someone else do it but does this and turbo tax deluxe go through the same tax deductions and credits?

https://turbotax.intuit.com/personal-taxes/compare/online/

capital sb · Feb 2, 2016

@yanky yes same credits and deductions and freetaxusa actually is a flat rate of 12.95 compared to turbo tax.

I was going to be charged $100 to file state and fed with TT, only paid $10 with free tax usa

comptonprince · Feb 2, 2016

BeezyGotSole said:
@yanky yes same credits and deductions and freetaxusa actually is a flat rate of 12.95 compared to turbo tax.

I was going to be charged $100 to file state and fed with TT, only paid $10 with free tax usa

Why $100 champ?

yanky · Feb 2, 2016

BeezyGotSole said:
@yanky
yes same credits and deductions and freetaxusa actually is a flat rate of 12.95 compared to turbo tax.

I was going to be charged $100 to file state and fed with TT, only paid $10 with free tax usa

Thank you. $100 is way more than the $34.99 they advertise on their site.

capital sb · Feb 2, 2016

ComptonPrince said:
Why $100 champ?

Itemized deduction ($40) isn't free with TT. Then the software wouldn't let me manually enter in my state information it kept automatically transferring my info from my federal taxes ($36) then $30 for paying what I owed state with my refund money.

larry david · Feb 3, 2016

Approved this past week, now, we wait.

*Not a big fan of having to wait... considering these bammas don't hesitate to go in my pockets before I see my paper, yet as advanced as technology is today, even after approval they need a minimum of 5 business days to process an ACH?

FOH

nawghtyhare · Feb 3, 2016

checked where's my refund this morning
Shows my refund was approved
And should be deposited into my account by 2/5
I was accepted on 1/22

willie mcfly22 · Feb 3, 2016

Heads up...
http://fox40.com/2016/02/03/irs-shuts-down-tax-return-e-file-system-computer-issues-blamed/

townbidness · Feb 3, 2016

Barely sent mines in. Going to stay out this thread. Dont want to be constantly checking every day [emoji]128514[/emoji][emoji]128514[/emoji][emoji]128514[/emoji].

stork · Feb 3, 2016

rock steady22 said:
Heads up...
http://fox40.com/2016/02/03/irs-shuts-down-tax-return-e-file-system-computer-issues-blamed/

yeah I went to e-file about an hour ago and couldn't get my pin.

makes sense, ACA online roll out flopped, IRS failing...where's obama to fix this....oh at a mosque....cool....smh

wallyhopp · Feb 3, 2016

FYi, With TT Premier cd version, they mention "one free" state and 5 federal filings. It's really more of a "per computer" restriction. I have been able to do my 4-5, and another family member use the cd for their 4-5. No issue in 6-7 yrs now.

And then in regards to state, many states the e-filing is free to begin with. So don't waste it if you are filing more than a couple people with various states. TT mentions free with paper. But at some point, explore your options, look online for your states TAP website. My states website was down most of yesterday

. But for the past two years, You fill in a couple boxes, similar to TT, and other times, they want you to refer to a completed tax 1040 box line (hint: save your completed filed tax form as a pdf *TT lets you do this, and you can reference it back with ease). No need to pay TT $30 or use your one "free" state return.