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Happy Tax Day my fellow tax peeps! I'll be spending all day chasing five clients who don't ever respond, all night drinking, and all day tomorrow not leaving the house or putting on pants. What's everyone else's plans?!
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Apr 17, 2018 15:24
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| # ? May 23, 2024 08:38 |
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Hopefully my last post on my 2017-2018 tax drama... I will be getting a professional ASAP once they've recovered. I have to pay Q1 estimated taxes, and the best suggestion I've heard given I don't know what my 2018 income will be is to pay so that Q1 withholding+estimated = 25%× 2017 taxes. Is that reasonable? If I pay that and then get a pro and this turns out to be incorrect, am I setting myself up for more problems if I need to increase or decrease my estimated payments for future quarters? Thanks goons for your help and patience... I'm never making this mistake again.
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Apr 17, 2018 15:43
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black.lion posted:Happy Tax Day my fellow tax peeps! I'll be spending all day chasing five clients who don't ever respond, all night drinking, and all day tomorrow not leaving the house or putting on pants. Every since we told clients if they show up after mid-march it's an automatic extension, deadline day has been a lot calmer. Probably just getting white-guy wasted tonight and mowing the lawn tomorrow.
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Apr 17, 2018 17:31
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black.lion posted:Happy Tax Day my fellow tax peeps! I'll be spending all day chasing five clients who don't ever respond, all night drinking, and all day tomorrow not leaving the house or putting on pants. 13 hour day today (after a 14 hour day yesterday) and work is sticking me with coming in Wednesday and Thursday as well. So FML basically.
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Apr 17, 2018 17:41
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MadDogMike posted:13 hour day today (after a 14 hour day yesterday) and work is sticking me with coming in Wednesday and Thursday as well. So FML basically. Oh man, see my post above - we were like that a few years ago until I just said "gently caress it." Clients will grump, but if you hold firm, makes mid-April a TON better. Anything coming in after mid-March gets prepped for extension only. We stop working on getting returns out around April 7-10 (depending on when the deadline falls), so if a return isn't completely done by then, it's not getting out either. We aim to get returns out in three weeks, so if something isn't done in three weeks, there's a problem (either on our end or the clients). Edit: And in today's marketplace, it's not like they can go anywhere else on April 10th and get a return done.
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Apr 17, 2018 17:56
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Why do clients grump about extension vs filing?
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Apr 17, 2018 18:18
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You guys able to file those extensions electronically?
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Apr 17, 2018 18:50
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I like how the IRS direct pay website is down on tax day. Great job guys! 
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Apr 17, 2018 19:51
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I filed yesterday with TurboTax. Apparently TurboTax puts a 48 hour hold on your filing if you've ever filed with another email address. The solution is to call an automated line on TurboTax, which I did. TurboTax's system said no further action was required but didn't emit any sort of confirmation after that call and I'm still not seeing that the funds have been withdrawn from my account. Should I be worried that I'm gonna get hit by some sort of penalty for late payment if TurboTax doesn't actually file until tomorrow? 
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Apr 17, 2018 20:04
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sullat posted:You guys able to file those extensions electronically? Yeah with the push of a button. Beats the old days when you had to chase down clients for a wet signature, faxes didn't count.
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Apr 17, 2018 20:36
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Ur Getting Fatter posted:I filed yesterday with TurboTax.
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Apr 17, 2018 20:37
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KillHour posted:I like how the IRS direct pay website is down on tax day. Great job guys! Apparently the IRS servers crashed this morning and had to be reset, maybe having to do with the cyber attack yesterday on US infrastructure - our filing acknowledgements have been creeping in today. MadDogMike posted:13 hour day today (after a 14 hour day yesterday) and work is sticking me with coming in Wednesday and Thursday as well. So FML basically. You poor poor dude - I agreed to do some bookkeeping for someone Thurs morning and I'm already regretting it. I'll be doing nothing of value, personal or professional, tomorrow; no pants, lots of doggos and vidjagames! black.lion fucked around with this message at 20:59 on Apr 17, 2018 |
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Apr 17, 2018 20:57
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Hoodwinker posted:The bigger question is, "Why did you wait to file until yesterday?" I had everything ready weeks ago, I was waiting to see if any last minute TurboTax deals popped up because Self-Employed is expensive as poo poo and I don't make that much money.
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Apr 17, 2018 21:03
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Hoodwinker posted:The bigger question is, "Why did you wait to file until yesterday?" I waited to file until today.
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Apr 17, 2018 21:07
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My coworkers all did their returns today, I did mine in like early February.Ur Getting Fatter posted:I had everything ready weeks ago, I was waiting to see if any last minute TurboTax deals popped up because Self-Employed is expensive as poo poo and I don't make that much money. http://money.cnn.com/2018/04/17/news/irs-tax-filing-problems-tax-day/index.html?sr=twCNN041718irs-tax-filing-problems-tax-day1251PMStory Sounds like TurboTax is having trouble transmitting returns anyway, so this weird coincidence may save you the late filing if your return gets transmitted tomorrow or the day after with everyone else's whose returns aren't going through right now. Maybe? Hope springs eternal in the human breast, etc etc black.lion fucked around with this message at 21:14 on Apr 17, 2018 |
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Apr 17, 2018 21:12
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black.lion posted:Apparently the IRS servers crashed this morning and had to be reset, maybe having to do with the cyber attack yesterday on US infrastructure - our filing acknowledgements have been creeping in today. That would explain why my EIN/SSN verifications weren’t working this morning.
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Apr 17, 2018 21:32
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Tax Day moved to April 18. Hooray!
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Apr 18, 2018 00:06
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Wow, sure enough.
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Apr 18, 2018 00:18
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Good. Today I learned that TurboTax waits a day before paying your remaining taxes through direct deposit. loving Intuit. I should have just filled out that 8949 myself with the self help package. That program is awful, but at least it doesn't smugly patronize you through the whole goddamn process.
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Apr 18, 2018 03:01
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Ceiling fan posted:Good. Today I learned that TurboTax waits a day before paying your remaining taxes through direct deposit. loving Intuit. I should have just filled out that 8949 myself with the self help package. That program is awful, but at least it doesn't smugly patronize you through the whole goddamn process.
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Apr 18, 2018 03:17
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Someone who knows he isn't getting a refund. And gets statements trickling in up to the last minute.
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Apr 18, 2018 03:42
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Ceiling fan posted:Someone who knows he isn't getting a refund. And gets statements trickling in up to the last minute. Anywho you're fine this year, thanks Russia! https://www.irs.gov/newsroom/irs-pr...ems-back-online
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Apr 18, 2018 04:37
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SiGmA_X posted:Who waits till the last day?!? Everyone who owes the IRS money. On a slightly related note, for years now I've done my best (not always easy to be precise) to make sure I owe a little every tax day, rather than getting a refund. I can't wrap my head around the whole "refund" idea where people treat it like found money and not their own cash that went interest-free to the Treasury straight out of their paychecks all year. I can't be alone in this right? I'm not talking about something like over-reporting W-4 deductions so I end up owing thousands of dollars+ (which would eventually result in penalties), I just mean I am perfectly happy to pay them $500 or thereabouts every April rather than get some big refund check.
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Apr 18, 2018 04:57
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My mom does this and complains about it every year. I like getting a modest refund because I'm dumb/bad with money and would rather spend it on something cool once a year than on an extra coffee every week or whatever.
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Apr 18, 2018 05:03
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Ixian posted:Everyone who owes the IRS money. But you can e-file ahead of time and schedule the payment to occur closer to tax day? That's what I did and I'm drat glad.
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Apr 18, 2018 05:07
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I got a letter from he IRS today basically asking me to verify that I filed my taxes. I efiled with freefillableforms about a month ago. They want me to mail in my 1040, w2s and 1099s. What is this? Some kind of identity fraud check?
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Apr 18, 2018 05:09
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IOwnCalculus posted:But you can e-file ahead of time and schedule the payment to occur closer to tax day? That's what I did and I'm drat glad. 2 things: the general procrastination factor (if there's no personal benefit, i.e. refund, then it goes to the bottom of life's pile of priorities) and for some, particularly those who are going to owe, filing is more complicated and the associated paperwork doesn't show up all at the start of the calendar year. That, and sometimes you just want more time to make sure everything is correct. Like point 1, if there's money going out not in.... Personally I do a "napkin calc" based on the paperwork I have in February so I know where I am, roughly, but I still wait to file until about the week before. Maybe I'm just weird.
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Apr 18, 2018 05:35
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KillHour posted:My mom does this and complains about it every year. I like getting a modest refund because I'm dumb/bad with money and would rather spend it on something cool once a year than on an extra coffee every week or whatever. My wife does this to me. "I hate we have to write them an extra check every year". Me: "You know that was money going out regardless right? It's not really "extra". Her: "Shut up". We have a happy marriage (really), but sometimes people just get set in a way of thinking and there's no point trying to take that hill in the name of truth or whatever 
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Apr 18, 2018 05:39
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I’m finishing a move from Atlanta to DC this weekend that will have cost about $700. When I filed my taxes yesterday, I saw there was a deduction for moving. But when I file next year, won’t the standard deduction be super high so that I probably won’t be able to claim the expenses?
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Apr 18, 2018 07:46
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Josh Lyman posted:I’m finishing a move from Atlanta to DC this weekend that will have cost about $700. When I filed my taxes yesterday, I saw there was a deduction for moving. But when I file next year, won’t the standard deduction be super high so that I probably won’t be able to claim the expenses? Good news. You don't have to worry about it because that deduction has been eliminated from 2018.
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Apr 18, 2018 08:23
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sale on Banksy art posted:Good news. You don't have to worry about it because that deduction has been eliminated from 2018.
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Apr 18, 2018 08:25
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Josh Lyman posted:Is that because the standard deduction is being increased to like $12,000? Would I have been able to claim it on my 2017 taxes even though the move didn’t start until last week? I read something about being able to claim up to the filing deadline. Moving expense deduction isn't an itemized deduction. It's a direct subtraction from gross income and can be used in conjunction with the standard deduction. However, the moving expense deduction has been removed as part of the tax reform act. You can't deduct moving expenses incurred/paid in 2018 on your 2017 return.
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Apr 18, 2018 13:21
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Xenoborg posted:I got a letter from he IRS today basically asking me to verify that I filed my taxes. I efiled with freefillableforms about a month ago. They want me to mail in my 1040, w2s and 1099s. Is that the 4883C letter? Yeah, it is an identity fraud check. Ixian posted:Everyone who owes the IRS money. Keep in mind a lot of people get big refunds because of the earned income credit, which doesn't come from their withholding.
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Apr 18, 2018 15:06
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Ixian posted:Personally I do a "napkin calc" based on the paperwork I have in February so I know where I am, roughly, but I still wait to file until about the week before. Maybe I'm just weird. Yeah, I start the tax file as soon as I can to get an idea of where I've ended up, but unless I'm getting a refund I generally wait until March or very early April to actually e-file. Still do it way ahead of tax day.
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Apr 18, 2018 15:18
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AbbiTheDog posted:Oh man, see my post above - we were like that a few years ago until I just said "gently caress it." Clients will grump, but if you hold firm, makes mid-April a TON better. Anything coming in after mid-March gets prepped for extension only. We stop working on getting returns out around April 7-10 (depending on when the deadline falls), so if a return isn't completely done by then, it's not getting out either. I’m at H&R Block, so not much control over that kind of thing. Truth be told I’m also too much of a soft touch to pull it off anyway, most of the late filers I had were nice people unavoidably screwed up by things outside their control. Kinda hard to be rough with somebody who had to reconstruct some of their business records from scratch last minute because QuickBooks threw a fit they had the audacity to log in with Safari and deleted stuff (doesn’t help they’re facing major back surgery and came to me from a worthless accountant who basically refused to file taxes for them until they received angry IRS letters, causing troubles they’re still dealing with; takes more ruthlessness than I’ve got to put them off, y’know?). I get to feel like I did a good deed and helped people at least, and I do go on break after Thursday. But there’s a reason I pick Queen’s “I’m Going Slightly Mad” as my end of season theme song... IOwnCalculus posted:But you can e-file ahead of time and schedule the payment to occur closer to tax day? That's what I did and I'm drat glad. Yep, make that point to a lot of my clients (though thankfully I told all of them to arrange payment BEFORE 4/17 in case of issues, looks like I called that one right!  ). Most of my people who owed on last day did payment via credit card (wanted the points and didn’t care about fee) and those were receiving OK, mailed in a check, or had a payment plan set up instead.Ixian posted:Everyone who owes the IRS money. It’s certainly workable if you stay within the range that avoids penalty (or hell, willing to tolerate the penalty, it’s not a ridiculously huge amount admittedly). About the only reason I don’t recommend it is for people with things like investment or business income where it’s hard to guess how much you get, a sudden unexpected income spike when you’re structured to always owe a little can suddenly leave you owing a lot more than expected and penalties/issues getting all the money in time. But yeah, I’ve got several people who work that way, and as I tell them “it’s pay now or pay later, IRS doesn’t get mad so long as it’s all paid by deadline.”
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Apr 18, 2018 17:04
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sullat posted:Is that the 4883C letter? Yeah, it is an identity fraud check. Do I need to be concerned that someone is trying to steal my identity or file a refund in my name or does the IRS just do these checks sometime? My credit report looks normal and I have identity theft monitoring already (yay OPM hack...)
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Apr 18, 2018 18:00
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Xenoborg posted:Do I need to be concerned that someone is trying to steal my identity or file a refund in my name or does the IRS just do these checks sometime? My credit report looks normal and I have identity theft monitoring already (yay OPM hack...) Maybe, maybe not. Who knows what motives lurks in the heart of the IRS?
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Apr 18, 2018 19:19
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MadDogMike posted:Most of my people who owed on last day did payment via credit card (wanted the points and didn’t care about fee) Is there some magical card out there that has rewards that outmatch the 2-3% fee by a meaningful amount or are people just dumb at math? I could maybe see some rare combo of airline miles/Sapphire points/whatever scoring a discount business-class fare at a huge redemption rate, or if you have a new card with a great initial spend bonus, but those aren't everyday scenarios. I ask because I have friends who do this on their cash back cards who are like "well, I get 1% back, so the fee isn't that high" and....I don't get it. Unless of course you just don't have the money, in which case you are gonna pay interest on it on top monthly, most likely, in which case you are better off doing a payment plan with the IRS directly....can't wrap my head around it.
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Apr 19, 2018 03:08
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Ixian posted:Is there some magical card out there that has rewards that outmatch the 2-3% fee by a meaningful amount or are people just dumb at math? Your friends who do that probably don't have the money to cover the expense... They're probably paying way more than 1%.
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Apr 19, 2018 04:22
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| # ? May 23, 2024 08:38 |
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Couple has been separated for about a year and a half. He won’t file for divorce because she holds her family money and custody of their son over him. He is also not the most confident of men, he is dyslexic and is convinced that she holds all the cards. He concedes to anything she demands as long as he can see his kiddo. They live separately and split childcare and costs equally. She convinced him to file taxes jointly this year, he was surprised to learn she paid nothing in taxes, and his return covered hers, mostly. They filed yesterday. Upon some family advice he went in today and filed again this time filing married but separate. What happens now? Both filings were with H&R Block.
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Apr 19, 2018 05:43
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