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      10-02-2020, 03:42 PM   #67
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Originally Posted by Noneya View Post
Isn't it nice that we pay accountants and tax software companies to file our taxes when IRS could just do it better, and in fact does anyway? /s
Not so sure I'd trust them to find all the deductions I'm entitled to and apply them correctly...
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      10-02-2020, 05:27 PM   #68
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It's in the dirt, safe at third. Holy cow! Stolen base.

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      01-19-2021, 09:09 AM   #69
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Originally Posted by DETRoadster View Post
Why ask an accountant when you can ask randos on a car forum?!

So I DO have this question out to my accountant but he's out of office for a few days so I figured I'd see if anyone here has had a similar situation and what they did.

So based on our tax return, my wife and I were supposed to get $2k~ish back. Our accountant failed to check the direct deposit box this year so we ended up getting a paper check. The check is for nearly $6k. WTF?!

I mean, cool. I like $$$. But I'm scared to cash the damn thing. It would be just like the IRS to send us too much, catch the error 3 years later, then charge us interest on the overage.

Anyone ever have this happen and what did you do?
After seeing what you posted, my question to you is did you review your taxes before the accountant filed them? You need to sign via paper or electronically before submitting them.

4K is signifcant amount more than you expected.
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      01-19-2021, 09:13 AM   #70
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Tax refund, what is that?
I owe my city over $2k just last year. I'm happy just to break even. It seems I can never withhold enough.
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      01-19-2021, 09:20 AM   #71
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Originally Posted by GenXer View Post
Tax refund, what is that?
I owe my city over $2k just last year. I'm happy just to break even. It seems I can never withhold enough.
Look at your W4 (if you're an employee), there's an option to withhold additional amounts of your choice.
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      01-19-2021, 12:44 PM   #72
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The city I work in, taxes me. The city of my residence taxes me. The county taxes my property. The federal and state government tax me. I wonder how a flat tax system could work. At least it will reduce the complexity of these taxing entities. It seems the more middle class you are the more taxes you pay.
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      01-20-2021, 01:25 PM   #73
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Originally Posted by cmyx6go View Post
I would call them and check it out. I don't trust them, these people would never make it in the private sector. Here is my recent experience.

My family members (partners) and I all got refunds this year (S Corps) due to a loss in one of the companies. My parents, sister and brother got their refunds within 2 weeks of filing but I did not. I was periodically checking with my accounting firm. They checked status on line and all they could see was it was in processing. I waited until we hit the 60 day mark and called the IRS first thing in the morning. I only had to wait 30 minutes to get someone with a pulse. I ask for status. He puts me on hold and comes back 15 minutes later and says that my refund is being held due to a refund that was sent to me in error for tax year 2017. Hmmm, OK - how is it I don't know about a receiving a refund in error? He tells me, you did know because you returned it. I thought about this for a minute and realized what he was talking about. My sister in law and I have the same name. I pay the estimated taxes on behalf of the family. The IRS applied her estimated payments to my account, even though her social was clearly shown on the check. I was issued a refund which I did not deposit. I discovered their error in looking at the payments I made. The check was sent back to them showing they applied to the wrong account. They correctly applied it to my sister in law.

Fast forward. My account is on hold since 2017 BECAUSE THEY NEVER TOOK THE HOLD OFF WHEN THEY RECEIVED THE CHECK BACK TWO YEARS AGO.
You had one job....

Don't cash that check until you get confirmation.
I tell this to people all the time, anyone who works for any government or government agency will never be held responsible for their actions, they can not be fired or have their pay cut. There is never a consequences for doing things wrong. They also know its going to cost you more to fight them to win your case. Yes most of these people would never make it in our merit bases economy. Even the ones who have more than a clue lack any ambition to do anything which would requirement to do a good job. I honest think the US government has created all these jobs because some of these people would not survive elsewhere and we would have10% permeant unemployment.
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      01-20-2021, 04:00 PM   #74
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I canít even remember the last time I received a tax refund. Heck, I got a letter from the IRS last year saying I overpaid by almost 20k and did I want a refund. My accountant just laughed and said you better not.
But what I do know is any advice you get on a forum especially on something as serious as taxes is almost always worth exactly what you pay for it!
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      01-20-2021, 04:04 PM   #75
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Quote:
Originally Posted by GenXer View Post
The city I work in, taxes me. The city of my residence taxes me. The county taxes my property. The federal and state government tax me. I wonder how a flat tax system could work. At least it will reduce the complexity of these taxing entities. It seems the more middle class you are the more taxes you pay.
The flat tax they are thinking of when they mention a flat tax is give them ALL your money and they will decided where itís needed most.
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      01-20-2021, 04:31 PM   #76
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Quote:
Originally Posted by GenXer View Post
The city I work in, taxes me. The city of my residence taxes me. The county taxes my property. The federal and state government tax me. I wonder how a flat tax system could work. At least it will reduce the complexity of these taxing entities. It seems the more middle class you are the more taxes you pay.
I'll pass on a flat tax going to Washington and them deciding who get what. At least with my city/state income tax and property taxes we vote on many items for what we do and don't want to added to the total. County wanted more money for schools so our county voted on it, once Washington has all the money not seeing how this could work.
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      01-20-2021, 04:59 PM   #77
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Quote:
Originally Posted by David70 View Post
I'll pass on a flat tax going to Washington and them deciding who get what. At least with my city/state income tax and property taxes we vote on many items for what we do and don't want to added to the total. County wanted more money for schools so our county voted on it, once Washington has all the money not seeing how this could work.
I don't think it matters much. Stupid people will always be stupid - vote for tax increases, no matter what the reason may be, seems to always get passed.
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      01-20-2021, 06:03 PM   #78
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Originally Posted by XMetal View Post
I don't think it matters much. Stupid people will always be stupid - vote for tax increases, no matter what the reason may be, seems to always get passed.
But, it's for the KIDS!!!!
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      01-21-2021, 08:18 AM   #79
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Tax man will always come back for their money (for us peasants that is).

Best thing to do in this situation is cash the check, change your name, get a fake passport, and go live in Mexico.
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      01-21-2021, 09:44 AM   #80
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Originally Posted by Mein11 View Post
Tax man will always come back for their money (for us peasants that is).

Best thing to do in this situation is cash the check, change your name, get a fake passport, and go live in Mexico.
Interesting that this is your recommendation for a free $6k.
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      01-21-2021, 10:59 AM   #81
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Originally Posted by David70 View Post
Interesting that this is your recommendation for a free $6k.
It's your money, call JG Wentworth
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