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tax time is just about here....

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posted on Dec, 4 2016 @ 09:31 AM
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im already chomping at the bit.
just checked out irs.gov. i guess starting this year if you claim earned income credit they have to hold your check till feb 15th.
dont really understand that...

i usually get a really good return...this year should be no different...

anyone got big plans for their return this year or is it just playing catch up?
im hoping to pay my rent for a couple months....looking to buy another car. looking to get some work done on an existing car.
need to buy a couple new chairs...thinking about a couple of nice gliders.

whats your plan




posted on Dec, 4 2016 @ 09:36 AM
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originally posted by: TinySickTears
i usually get a really good return...this year should be no different...

anyone got big plans for their return this year or is it just playing catch up?


I usually get almost nothing back because I am not in the business of giving Uncle Sugar an interest free loan.



edit on 4-12-2016 by AugustusMasonicus because: Zazz 2020!



posted on Dec, 4 2016 @ 09:37 AM
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a reply to: TinySickTears

Hookers and booze.



posted on Dec, 4 2016 @ 09:38 AM
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a reply to: AugustusMasonicus

I try to teach people this every year. They'd all rather have that big sigh of relief.



posted on Dec, 4 2016 @ 09:41 AM
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originally posted by: NarcolepticBuddha
I try to teach people this every year. They'd all rather have that big sigh of relief.


I hear you.

People are better off keeping their cash and investing it themselves so they can at least get some sort of return. The only thing I get back is some travel expense related refunds since I file those yearly.



posted on Dec, 4 2016 @ 09:41 AM
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a reply to: TinySickTears

Geezus!

I'm certainly doing something wrong. If memory serves me perhaps when the kiddos were very young, I got back a good bit but, nothing that could afford me a new car or paid up rent.

Maybe they have to hold the check until the 15th to figure out a way to pay it?
*shrugs*

Note to self: need new tax person, stat.

Good for you, though, enjoy!



posted on Dec, 4 2016 @ 09:46 AM
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originally posted by: TNMockingbird
a reply to: TinySickTears

Geezus!

I'm certainly doing something wrong. If memory serves me perhaps when the kiddos were very young, I got back a good bit but, nothing that could afford me a new car or paid up rent.

Maybe they have to hold the check until the 15th to figure out a way to pay it?
*shrugs*

Note to self: need new tax person, stat.

Good for you, though, enjoy!


when i say new car i mean something for maybe $2500...
im looking to get about 7k by my estimate and going by last year.

my brothers girl gets like 10 grand back every year

i always do a very simple return...takes about 5 minutes...



posted on Dec, 4 2016 @ 09:49 AM
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a reply to: TinySickTears

Oh.
That's still good.

I have known some folks who got back, at one time, upwards of 10 grand. They have a boat load of kids.

I thought I had *heard somewhere that the EIC was on it's way out?

$7000 could go a long way, depending on where one lives, I'd imagine.
edit on 4-12-2016 by TNMockingbird because: * spelling is not my forte



posted on Dec, 4 2016 @ 09:56 AM
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a reply to: TNMockingbird

the credit may be on the way out. i dont know anything about it.
looks like its still in play this year

i just looked. the credit this year for 1 qualifying child is $3400
edit on 4-12-2016 by TinySickTears because: (no reason given)



posted on Dec, 4 2016 @ 10:03 AM
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Tax refund ?

What's that ??

The only refunds I ever see are on other peoples' tax returns that I do for them.

*sigh*



But thanks for reminding me of what I have to look forward to in a few months.




posted on Dec, 4 2016 @ 10:47 AM
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I knew it was tax time again when my 35 yr old hipster step-daughter started calling her mom to say "I love you". The unfettered outpouring of love, expressed every tax season, makes it all worth it.



posted on Dec, 4 2016 @ 11:43 AM
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a reply to: TinySickTears

On behalf of those of us who arguably pay more than we "should have to" so others can enjoy the disposable income they receive via EIC..... You're welcome.



posted on Dec, 4 2016 @ 12:31 PM
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I don't get a return. So no, I'll probably either pay them this year, or not, depends on my write off situation.



posted on Dec, 4 2016 @ 12:33 PM
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originally posted by: eluryh22
a reply to: TinySickTears

On behalf of those of us who arguably pay more than we "should have to" so others can enjoy the disposable income they receive via EIC..... You're welcome.


Amen, brother. EIC is not a "refund" for taxes you over-paid during the year. It's a gift from the government paid for by people who don't get it. It's a subsidy.



posted on Dec, 4 2016 @ 01:03 PM
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a reply to: schuyler

works for me.
if theyre offering a gift that i qualify for im definitely taking it



posted on Dec, 4 2016 @ 01:11 PM
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originally posted by: TinySickTears
im already chomping at the bit.
just checked out irs.gov. i guess starting this year if you claim earned income credit they have to hold your check till feb 15th.
dont really understand that...

i usually get a really good return...this year should be no different...

anyone got big plans for their return this year or is it just playing catch up?
im hoping to pay my rent for a couple months....looking to buy another car. looking to get some work done on an existing car.
need to buy a couple new chairs...thinking about a couple of nice gliders.

whats your plan


Some IRS refunds are going to be held to prevent fraud.

The IRS has had a major problem with ID theft over the past year due to hackers stealing taxpayer information from poorly protected tax preparer systems, last years hack of Intuit files (Intuit is the publisher of the tax preparation software most independent tax preparers use).

And no one gets a "return" from the IRS, they get a refund; the return is what you file to get a refund.

Except for the EIC, some who qualify for EIC don't have to file a return because they don't meet the income requirement for filing.

EIC has been a major source of fraudulent refund claims.



posted on Dec, 4 2016 @ 01:37 PM
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If you haven't incorporated, I don't know what to tell you.

Why not take advantages of the breaks the big boys get?




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