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Thread: Fun with Taxes

  1. #11
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    Quote Originally Posted by countryboy View Post
    Yep, I've been using TurboTax for years, the Home & Business version. It can be as easy, or as complicated as you like. I basically enter all my information, and it lets me know the best way to file. It also handles all of the calculations, and generates and fills out all of the documentation and schedules needed. It's not necessarily a walk in the park to use though, I've just been doing it for so many years, I am super familiar with the software. Also does your state taxes, and allows you to e-file easily within the software. I always purchase the insurance so I won't have to deal directly with the IRS in the event of an audit.
    Same here.
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    countryboy (04-10-2022)

  3. #12
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    Quote Originally Posted by DGUtley View Post
    I have an accountant do them every year. Mine are complicated enough that the risk isn’t worth it to do myself.
    Ditto.
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    DGUtley (04-10-2022)

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    Quote Originally Posted by Chris View Post
    I did mine by hand this year as well.

    In past years I'd used HR Block free. Last year it cost me $30 or so because dividends on some CDs exceeded, what $1500--for the $30 HR Block listed the bank's name on a separate schedule. I figured this year I could do that.

    And did. The only complication was figuring out how much SSA would be taxed. But all easy enough-after hours pouring over complicated instructions!

    And I prepared and efiled it using an IRS application that does some calculations for you. Sat back and waited for the refund.

    Three days after I efiled, a week past the deadline for financial institutions to send you 1099s and such, I got two more sets of 1099 INTS, Rs, etc. WTF!

    So I had to file a 1040x to amend the first filing. Again easy enough once you pour over complicated instructions. Efiled that, owing a couple hundred back.

    A few days after that my initial refund check came in.

    So I probably didn't have to do a 1040x.


    Comments:

    1 It's overly complicated because there are so many damned exceptions and rules. And if you're paying attention the IRS is changing RMD rules left and right this year.

    2 The IRS could have done my taxes for me. It gets all the W2, 1099s, etc. I talked to an IRS agent in January and she conceded in many cases, they could. Not if you itemize. Not if you own a business, sure, but for many of us, we could just check a box telling them to do it.

    Just checked with the IRS and they acknowledge now (what, it's mid-April) they received my 1040x back on 2/22/22 and it could take 4 months to process it. Not that I care, I got my refund and owe them a few 100, take your time!
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    Quote Originally Posted by Chris View Post
    Just checked with the IRS and they acknowledge now (what, it's mid-April) they received my 1040x back on 2/22/22 and it could take 4 months to process it. Not that I care, I got my refund and owe them a few 100, take your time!
    They answered the phone?
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    Quote Originally Posted by Peter1469 View Post
    They answered the phone?
    No, they have a website where you plug in SSN, DOB, ZIP and they report progress: https://www.irs.gov/filing/wheres-my-amended-return

    Back in January when I called about another matter I actually got someone in about 5 minutes and she was very friendly and helpful. I was surprised.
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