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EITC refunds don't even get issued until Feb 15th so you may as well wait.
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Feb 1, 2024 06:19
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H110Hawk posted:Pay as you go is a totally valid method if there is no reasonable way to estimate it. Just pay them as you get paid, not forgetting the self employment tax, and they will be totally happy. I don't think they will ever be 'happy' but they will not focus their ire on you, at least, if you do that.
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Feb 12, 2024 18:01
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Centzon Totochtin posted:I usually have an uncomplicated tax situation (single, modest income, rent, no other sources of income, only investment for 2023 was a traditional IRA) but last year my grandmother passed and left me her half of the house which she co-owned with my father (I'm in New York City and so is the house, but I do not live in the house nor do I ever intend to). Do I need someone to prepare my taxes for me or can I just use freetaxusa or turbotax? Pub 525 posted:In most cases, property you receive as a gift, bequest, or inheritance isn't included in your income. However, if property you receive this way later produces income such as interest, dividends, or rents, that income is taxable to you. I.E. it's not taxable income when you inherit it but when you sell/rent it that income is taxable.
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Feb 12, 2024 18:03
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Centzon Totochtin posted:I haven't done either yet (like many old people, she was a bit of a hoarder so I'm still clearing the place out when I have free time) so I should be good to self-file like I usually do? Yeah. Just make a note of the value of the house as of the day you inherited it. That will be the 'basis', i.e., the cost you 'paid' for the house when it comes time to calculate your total profit.
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Feb 13, 2024 16:36
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Busy Bee posted:How long does it take to show that your tax return was processed in your online IRS account? If you owe your return isn't processed until either 1) it is paid in full or 2) June-ish
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Feb 25, 2024 00:58
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You should already know the total amount since it was on your return, penalties and interest don't start accumulating until April 15th so if you wait until you get the bill in June you will have to pay extra.
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Feb 25, 2024 05:45
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bird with big dick posted:Isn’t it not a tax free transfer until it’s actually an inheritance ie until the person passes away? Yeah there's no taxes on gifts or inheritances as long as the lifetime total is below the threshold which varies from time to time but is several millions of dollars high.
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Feb 25, 2024 20:45
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Ashcans posted:I was filling out my taxes and got a notification that there was an error in my W-2; apparently my SSA withholding was $14 dollars more than it should have been. I notified my employer to get a corrected W-2. Since then there has been a constant rolling promise the new one would be available soon. Last week they finally told me it would be 3-6 weeks to receive the corrected W-2c. I had originally notified them of the mistake the last week of February. This seems pretty unreasonable to me, particular as it means I might be right up on the deadline to file. If the only mistake is the SSA withholding it should only be an issue if you are over the max withholding, in which case you'd get $14 back if you amended your return.
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Mar 11, 2024 01:21
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| # ¿ May 10, 2024 19:27 |
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Discendo Vox posted:On the brighter side the current admin pushed through a major IRS funding increase and they’ve fought to protect it tooth and nail; IRS also got to begin the long fabled process of setting up free filings, which can eventually undercut and kill off the preparer interests that make everything about the tax system suck. The free filing project is neat but the funding increase doesn't seem to have resulted in a hiring increase.
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Mar 23, 2024 21:40
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