 Just got this. Tax guy. (by AllyM [NJ]) May 5, 2021 10:06 PM
 Just got this. Tax guy. (by Jerry [MA]) May 5, 2021 10:29 PM
Just got this. Tax guy. (by J [FL]) May 6, 2021 7:33 AM
Just got this. Tax guy. (by tryan [MA]) May 6, 2021 8:00 AM
Just got this. Tax guy. (by J [FL]) May 6, 2021 9:29 AM
Just got this. Tax guy. (by J [FL]) May 6, 2021 9:29 AM
Just got this. Tax guy. (by S i d [MO]) May 6, 2021 9:42 AM
Just got this. Tax guy. (by Mike45 [NV]) May 6, 2021 2:52 PM
Just got this. Tax guy. (by Wilma [PA]) May 6, 2021 3:56 PM
Just got this. Tax guy. (by Jerry [MA]) May 6, 2021 4:32 PM
Just got this. Tax guy. (by Mike45 [NV]) May 6, 2021 6:48 PM
Just got this. Tax guy. (by Toni [RI]) May 8, 2021 2:03 AM
Just got this. Tax guy. (by AllyM [NJ]) Posted on: May 5, 2021 10:06 PM
Message:
I just got an email newsletter from my tax firm. Here is a quote from the email. What do you think they are up to? IRS has become KGB? I got mine.
IRS is holding millions of tax returns, delaying refunds
The IRS is holding 29 million tax returns for manual processing, delaying tax refunds for many Americans, according to the National Taxpayer Advocate, an independent arm of the tax agency that looks out for consumers' interest. The delays are prompting some taxpayers to fret over social media about spending weeks waiting in limbo for their money.
Credit for above goes to: Bush Tecosky Goodman Feldman, Warminster, PA
--108.24.xx.xx |
Just got this. Tax guy. (by Jerry [MA]) Posted on: May 5, 2021 10:29 PM
Message:
The whole filing pipeline is backed up. Some tax returns from 2019 are still being processed. The IRS is understaffed, so long delays are happening. Apparently electronic filings are moving quicker, but if you filed with paper you can expect to wait a while. Luckily I always end up owing them money, so not giving me a headache. --71.233.xxx.xx |
Just got this. Tax guy. (by J [FL]) Posted on: May 6, 2021 7:33 AM
Message:
This happened to me on my 2019 return. Filed paper return with acct. I owed them and IRS cashed the check...but return didn't show up in their system until October.
--72.188.xxx.xxx |
Just got this. Tax guy. (by tryan [MA]) Posted on: May 6, 2021 8:00 AM
Message:
What's a tax refund?!?! --76.119.xxx.xxx |
Just got this. Tax guy. (by J [FL]) Posted on: May 6, 2021 9:29 AM
Message:
LOL Tryan.
I think electronic filings get audited more often, but it's better to file electronically these days, with the huge backup, if you are going to need proof for ACA or something else. With paper return you there's no telling when it finally gets logged in IRS's system. --72.188.xxx.xxx |
Just got this. Tax guy. (by J [FL]) Posted on: May 6, 2021 9:29 AM
Message:
LOL Tryan.
I think electronic filings get audited more often, but it's better to file electronically these days, with the huge backup, if you are going to need proof for ACA or something else. With paper return you there's no telling when it finally gets logged in IRS's system. --72.188.xxx.xxx |
Just got this. Tax guy. (by S i d [MO]) Posted on: May 6, 2021 9:42 AM
Message:
My goal is to owe the IRS just a little (less than $500) and never have them owe me. That said, we had a refund this year, so I filed electronically as I have for the past 2 decades and got my refund promptly within 2 weeks. All $31 of it. --107.216.xxx.xxx |
Just got this. Tax guy. (by Mike45 [NV]) Posted on: May 6, 2021 2:52 PM
Message:
I always file paper.
My goal is to pay the minimum amount needed to avoid penalties for underpaying on my Estimated Taxes. If I get a refund, it means I was lending money to the gov't interest free!
I rarely get a refund, but I miscalculated on my estimates in 2020, and ended up overpaying by a few hundred. I told the IRS to apply the overpayment to my 2021 taxes, and I reduced my first Estimated Tax payment by that amount.
All is good.
--76.4.xxx.xxx |
Just got this. Tax guy. (by Wilma [PA]) Posted on: May 6, 2021 3:56 PM
Message:
@Sid(MO) - Dang, you beat me - I overestimated by $55. Love playing that game! Applied it to 2021. --96.245.xx.xx |
Just got this. Tax guy. (by Jerry [MA]) Posted on: May 6, 2021 4:32 PM
Message:
You guys are much better at estimating than me. I ended up owing over $16,000, but the penalty was only $105. I was surprised it was so low, and figure a hundred bucks to hold onto $16K was worth it. --71.233.xxx.xx |
Just got this. Tax guy. (by Mike45 [NV]) Posted on: May 6, 2021 6:48 PM
Message:
Jerry, great job! I hate paying penalties, but better than having overpaid! --76.4.xxx.xxx |
Just got this. Tax guy. (by Toni [RI]) Posted on: May 8, 2021 2:03 AM
Message:
Ally, no KGB here. The Internal Revenue Service pipeline delay in processing returns is due to the labor shortage. The agency has also been affected by the pandemic. It is my understanding the agency typically hires temporary contractor staff specifically during tax season. As for electronic filings being more susceptible to audit, that is another fallacy. It is actually a more preferable filing method. --172.56.xx.xx |
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