Do you procrastinate when filing taxes?

[Hardline]

I do it every year. I put it off to the last minute.

 

[VaqueroTD]

I do it every year. I put it off to the last minute.

First time in three years haven't asked for an extension. Getting a divorce though helped that out.

 

[Mountaineerfan]

Always turned into the accountant by second week in February. I haven't seen a refund in 15 years. But this year was perfect after paying federal taxes and getting some back from state taxes then cost of filing and preparation I was $3.00 to the good.

 

[Runwildboys]

I file as soon as I'm reasonably sure I have all the documents... usually the second week of February.

BTW, the longer you wait, the greater the possibility that some scammer will file under your name and get your refund, assuming there is one.

 

[rags747]

First time in three years haven't asked for an extension. Getting a divorce though helped that out.

I hope you got 1/2 of everything she has!

 

[csirl]

Do you have PAYE in the US?

 

[Creeper]

I am a firm believer that every taxpayer should be required to complete his/her own tax returns. The more you know about taxes and how they work/don't work, the better of you will be.

I wait until the last minute - I have not completed my returns for this year yet. I have 3 days! My wife and I will owe money, like we do every year. It seems no matter how much more I take out of my pension and SS payments for taxes, our tax bill is always higher. It annoys me that if we underpay our taxes, we pay a penalty, but if we overpay, the government doesn't penalize themselves and gives us a little interest on our loan to them.

I am convinced no one in this country really understands all the nuance of our tax laws. If you ever have to call the IRS for an explanation of something, you will be convinced too.

I don't think this is a political statement, but I would love to see some real simplification of the tax code in the US. Fill out a form for this, and another form for that, foreign tax credits, AMT, credits for this, penalties for that. Yikes! Why is it so hard to just say here is how much I made, and here is what I owe?

 

[VaqueroTD]

I am a firm believer that every taxpayer should be required to complete his/her own tax returns. The more you know about taxes and how they work/don't work, the better of you will be.

I wait until the last minute - I have not completed my returns for this year yet. I have 3 days! My wife and I will owe money, like we do every year. It seems no matter how much more I take out of my pension and SS payments for taxes, our tax bill is always higher. It annoys me that if we underpay our taxes, we pay a penalty, but if we overpay, the government doesn't penalize themselves and gives us a little interest on our loan to them.

I am convinced no one in this country really understands all the nuance of our tax laws. If you ever have to call the IRS for an explanation of something, you will be convinced too.

I don't think this is a political statement, but I would love to see some real simplification of the tax code in the US. Fill out a form for this, and another form for that, foreign tax credits, AMT, credits for this, penalties for that. Yikes! Why is it so hard to just say here is how much I made, and here is what I owe?

In the past times I've worked with the IRS, I would compare it to putting my hand in a blender. You're right, it's awful.

 

[Creeper]

In the past times I've worked with the IRS, I would compare it to putting my hand in a blender. You're right, it's awful.

I've been doing my own taxes since I started working. That was over 50 years ago. I think I have seen just about everything from the obscure to the ridiculous when it comes to taxes. One thing I do know is whenever they change the laws to simplify taxes, it only gets worse. Worse is when they bury new tax laws in legislation that has nothing to do with taxes. These changes are usually never publicized until you file your taxes and realize, "oh, that's new!" These hidden gems are usually worse for taxpayers.

 

[SlammedZero]

Yup, I usually drag my feet. lol I got married in 2010 and I don't think I've had a tax return since.

Get married they said. It'll be fun they said. It'll be great for your taxes they said.

 

[CyberB0b]

Yes.

 

[big dog cowboy]

No

 

[Runwildboys]

Maybe

 

[DanteEXT]

Only when I owe money

 

[Creeper]

Yup, I usually drag my feet. lol I got married in 2010 and I don't think I've had a tax return since.

Get married they said. It'll be fun they said. It'll be great for your taxes they said.

It actually is better depending on how much each spouse makes. The tax rates/brackets for married filing separately are ridiculous so you are almost forced to file jointly.

 

[Flamma]

I don't. I do it immediately. But since we're talking about taxes, does everyone actually pay what they should?

I'm just curious. Does anyone pay a use tax? If you don't pay a tax on the internet, do you voluntarily pay it?

 

[morasp]

I do them as soon as the documents come in. Usually opt to have the refund invested in paper I-Series savings bonds.

 

[Tabascocat]

When I was younger and poor, I would wait until the 11th hour whether I got a refund or not. I even sometimes got an extension even though I didn’t need too. These days, our CPA handles it all, business and personal. As soon as he gets all the documentation, he calls when it is done

 

[Creeper]

I do them as soon as the documents come in. Usually opt to have the refund invested in paper I-Series savings bonds.

You can still get paper bonds? I buy them on Treasury Direct. Great rates right now and the interest is state tax free if you live in a state with an income tax like I do. I also give them to me granddaughter twice a year. But that's all done online.

 

[morasp]

You can still get paper bonds? I buy them on Treasury Direct. Great rates right now and the interest is state tax free if you live in a state with an income tax like I do. I also give them to me granddaughter twice a year. But that's all done online.

I do that too but the limit is $10k per person per year. you can get up to an additional $5K with tax refunds but they're paper. I did a back test and if my wife and I had each invested the limit of $10 back in 1998 it would be worth around $100 today.