When did you file your Taxes, what is your status...

Quote from dealgate : Forced savings.

Set up a recurring transfer to your savings account.

Is it more irresponsible to owe money you don't have? or to get money you didn't plan on?

First world problems...

To answer the question, I didn't file yet.

Quote from mmathis : Set up a recurring transfer to your savings account.

How is that "forced savings"? If I have access, there is the likelihood that it will be spent. Out of sight, out of mind.

Quote from dealgate : How is that "forced savings"? If I have access, there is the likelihood that it will be spent. Out of sight, out of mind.

I prescribe to this method as well. I have more then enough in my emergency fund to cover anything that mind come up during the year. Last 3 years I've averaged ~2000 back. If I had stuck that in ING? Like 50 bucks.

So yes I paid $50 over 3 years to help me force save $6,000

Haven't filed yet. Still waiting on a 1099 and a 1098-T

Absolutely nothing wrong with getting a refund at the end of the year. Some are not as good at saving each paycheck as others. Getting a nice refund check at the end of the year helps a lot. If you're smart, you will save most of it.

Calling others "stupid" for "giving the government an interest free loan" is so played out. Who cares...

I am sure no one cares by this point.. but
Your tax refund is scheduled to be sent to your bank on February 4, 2013.

Quote from KellyCat : I am sure no one cares by this point.. but Your tax refund is scheduled to be sent to your bank on February 4, 2013.

That is pretty awesome, I am still missing about 3 forms. I need to start hunting these people down to get my tax return filed.

Quote from KellyCat : I am sure no one cares by this point.. but Your tax refund is scheduled to be sent to your bank on February 4, 2013.

You already got that updated status? That was quick!
Mine keeps bouncing between accepted and the "you may have not entered you information correctly page"

Quote from drsketch : You already got that updated status? That was quick! Mine keeps bouncing between accepted and the "you may have not entered you information correctly page"

who did you use?

Quote from KellyCat : who did you use?

Turbo tax and I check my status from the IRS website "where's my refund"

Quote from travathian : Sadly, some people are just stupid. The rest are just financially inept and blatantly admit that they use their tax withholdings as a means to "save" money to make big purchases come tax time. I have not filed yet as I have not received all of my tax documents yet. Pretty sure I am getting money back, so will likely file in the next couple weeks.

I agree those poeple are not making the best choice, but for those that have no ability to save, over-paying and giving the government a tax free loan is technically better than nothing. If you have even the smallest inkling of how to handle your finances then you are better off either owing or getting a small ($200 or less) refund.

I haven't filed my taxes yet since I don't get all my paperwork until closer to tax time. I use turbo tax like most people. I used to work for a big 4 accounting firm and despite all the crazy tax software we had, almost all employees used TT for their personal return.

My issue with reducing the returns to zero pertains to changes in dependent related credits/ deductions, plus changing tax brackets due to income changes FYE2012 to where I cannot afford to absorb a hit by owing more. I have progressively maximized my exemptions to catch excessive returns, but in parallel will have had a lot of untaxed income as well as educational expenses that make it hard to anticipate the impact to the tax liability.

The truth is that I do not feel like hiring a CPA to audit these numbers every year when the opportunity cost from shelving the extra 2-3k for most of us non-traders is less than $50 in some crappy CD/ savings account which ordinarily is used for emergency funds in my case.


Of course this would change if I started making substantially more or if one is regularly expecting $7k + in returns

Quote from SANDY2424 : My issue with reducing the returns to zero pertains to changes in dependent related credits/ deductions, plus changing tax brackets due to income changes FYE2012 to where I cannot afford to absorb a hit by owing more. I have progressively maximized my exemptions to catch excessive returns, but in parallel will have had a lot of untaxed income as well as educational expenses that make it hard to anticipate the impact to the tax liability. The truth is that I do not feel like hiring a CPA to audit these numbers every year when the opportunity cost from shelving the extra 2-3k for most of us non-traders is less than $50 in some crappy CD/ savings account which ordinarily is used for emergency funds in my case. Of course this would change if I started making substantially more or if one is regularly expecting $7k + in returns

You should be able to very easily estimate large deductions - estimating is pretty easy if you understand how taxes *work* and so long as you don't have any strange/unusual deductions, etc.

Also although it's not as responsive, you can do year over year adjustments.