Tax Return Filing Season Is Here Again

Discussion in 'Money & Finances' started by Babs Hunt, Feb 3, 2018.

  1. Sheldon Scott

    Sheldon Scott Supreme Member
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    Lon, do you even need to file?
     
    #16
  2. Thomas Stearn

    Thomas Stearn Veteran Member
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    No, I haven't but there's no rush any more. The deadline has just been extended. Now it's the end of July. As you are saying, Lon, it is much less of a hassle than it used to be when a lot of things had to be considered and when you couldn't do it online. Now, the meta data are just there. One only has to fill in some new figures. Attachments are ready for download and being added to the main file before everything can be sent off. The only reason why I can't do it right now is that it takes banks three months to send their documents to each customer which reduces the time left to finish your tax return to effectively four months.
     
    #17
  3. Lon Tanner

    Lon Tanner Supreme Member
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    Yes----I must file because I have income from different sources.
     
    #18
  4. Lon Tanner

    Lon Tanner Supreme Member
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    I have filed on line since it first became available.
     
    #19
  5. Emma Smith

    Emma Smith Veteran Member
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    1040 A is no longer an option.

    1040 - Both pages fill the top half of the page and are completely blank at the bottom.
    What a waste of paper for all who still mail in their forms, or print copies.

    The part that really bothers me: my refund is much smaller, with no changes in withholding or anything else.
     
    #20
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  6. Nancy Hart

    Nancy Hart Veteran Member
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    The old 1040 forms were 2 pages also, just no blank space. It looks pretty good to me because I'd say 80% of the old form was always just filling in zeros, and some zeros they wanted put in, and some they didn't. I thought that was silly. They must have moved all the stuff that used to be in the middle of the form to separate schedules.
     
    #21
    Last edited: Jan 23, 2019
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  7. Emma Smith

    Emma Smith Veteran Member
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    Correction: Total amount withheld was less than on the 2016 return.

    Looking at the IRS site, 1040 form, Page 2 does not have a place for your name, ssn or any identifying info, should the pages get separated. Old form had signature and phone number at bottom.
     
    #22
    Last edited: Jan 23, 2019
  8. Tim Burr

    Tim Burr Veteran Member
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    2018 I worked full time, along with SS and Military retirement,
    probably will have to write a check.

    So I'll file on the very last day, just because.
     
    #23
  9. Don Alaska

    Don Alaska Supreme Member
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    Withholding less is a good thing, @Emma Smith as long as you don't have to pay additional. Why let the government use your money for longer than necessary? At first estimate (wife is a tax person), we will be getting a lot more back than we thought since the Personal Exemption has doubled and the depreciation rules have changed in our favor.
     
    #24
  10. Emma Smith

    Emma Smith Veteran Member
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    @Don Alaska Why let the government use your money for longer than necessary? At first estimate (wife is a tax person), we will be getting a lot more back than we thought since the Personal Exemption has doubled and the depreciation rules have changed in ourfavor.

    On the 2017 return, there were standard or itemized deductions (Line 40) and Exemptions (Line 42).
    They've combined these. For married filing jointly, std deduction is 300 more, single 150 more.

    I understand they're withholding less of my money, and I get it back sooner. I like getting a larger refund - not thousands, but larger than this year.


    https://www.irs.gov/newsroom/in-201...due-to-inflation-adjustments-others-unchanged
    • The standard deduction for married filing jointly rises to $13,000 for tax year 2018, up $300 from the prior year. For single taxpayers and married individuals filing separately, the standard deduction rises to $6,500 in 2018, up from $6,350 in 2017, and for heads of households, the standard deduction will be $9,550 for tax year 2018, up from $9,350 for tax year 2017.
     
    #25
  11. Don Alaska

    Don Alaska Supreme Member
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  12. Lon Tanner

    Lon Tanner Supreme Member
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    I finished doing my taxes on line and will be getting a nice refund deposited to my checking account.
     
    #27
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  13. Hal Pollner

    Hal Pollner Veteran Member
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    We have our returns processed every year at no charge through our Senior Citizens Club membership.

    They bring in several tax preparers to our large meeting room every year at tax time. The returns are electronically submitted to Federal and State, and our refund arrives shortly thereafter.

    Hal
     
    #28
  14. Babs Hunt

    Babs Hunt Supreme Member
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    No, I haven't started on ours yet. I do ours online and pay nothing to do it. And since our lives are very simple...so is filing our tax return.

    It will probably be even easier this year.
     
    #29
  15. Lon Tanner

    Lon Tanner Supreme Member
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    Yes, because I have income. Everyone that has income must file.
     
    #30

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