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    kcinnick

    Training Ferrous Metal
    Rating - 100%
    28   0   0
    Dec 24, 2008
    4,723
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    Baton Rouge
    Well I just had the funniest thing ever happen to me, I completed my taxes and noticed I was getting a refund! I haven't received a refund in YEARS, I always have to pay! I guess I put enough money in my HSA, 401k, and other tax free accounts that I kept the IRS punks at bay this year. I was just curious if anyone knew how long it took to get a refund, I know how long it takes to pay them.

    OH, and my refund really is a refund, they are only giving me back about 30% of what I paid them.
     
    K

    kcinnick

    Training Ferrous Metal
    Rating - 100%
    28   0   0
    Dec 24, 2008
    4,723
    38
    Baton Rouge
    Looks like it was good thing I decided to do it today, if I would have done it tomorrow it would have moved me to another cycle!

    That site is awesome, looks like 4/11 is the date!
     
    Praesul Presul

    Praesul Presul

    On Target.....Sometimes
    Rating - 100%
    3   0   0
    May 15, 2008
    834
    16
    Western KY
    kcinnick said:
    I haven't received a refund in YEARS, I always have to pay!
    Click to expand...

    Don't feel bad as I hate this time of the year because most people treat this like they are getting paid like they never knew that money was theirs all along. A refund just means you gave the govt an interest free loan for year that they made money off of. My CPA tries his damnest to get all of his clients to $0 - no refund and no payment.
     
    K

    kcinnick

    Training Ferrous Metal
    Rating - 100%
    28   0   0
    Dec 24, 2008
    4,723
    38
    Baton Rouge
    I shoot for 0 also, I understand the concept, I just usually have to pay! For some reason I was way off, 30% off. Normally I have to write a check for $3-500, but this year I am getting a good chunk back.

    Praesul Presul said:
    Don't feel bad as I hate this time of the year because most people treat this like they are getting paid like they never knew that money was theirs all along. A refund just means you gave the govt an interest free loan for year that they made money off of. My CPA tries his damnest to get all of his clients to $0 - no refund and no payment.
    Click to expand...
     
    Mr.Squatch

    Mr.Squatch

    Subsea Shooter
    Rating - 100%
    1   0   0
    Feb 20, 2012
    161
    16
    River Ranch
    depends on when it goes in. I found a graph online somewhere that showed average number of days compared to date filed predicted for this year. I did mine about a month ago and got it in 6 days. Good luck

    g
     
    Xenon

    Xenon

    Well-Known Member
    Rating - 100%
    22   0   0
    Jul 30, 2010
    1,022
    38
    Metairie
    April 17th is due date this year due to Emancipation Day observance in D.C.

    Not only an interest free loan for overpaying them, but they will charge you interest for underpayments (under certain conditions) even if you pay in full by the deadline. It's called an underpayment penalty, but it's really IRS interest, computed quarterly.
     
    P

    PPBart

    Well-Known Member
    Rating - 0%
    0   0   0
    Mar 25, 2012
    714
    16
    Denham Springs, LA
    Praesul Presul said:
    ...I hate this time of the year... My CPA tries his damnest to get all of his clients to $0 - no refund and no payment.
    Click to expand...

    I actually enjoy these few months -- full-time retired, but I work tax season for a major tax-return prep firm. Don't make much money, but it's always interesting, sometimes challenging, some people I look forward to seeing each year, some are real jerks (but that's just part of the challenge). I haven't filed my return yet, but that's just a matter of a few keystrokes. Like the CPA above, I always aim for break even -- this year, I've got to pay another $77, so that's pretty close.
     
    Praesul Presul

    Praesul Presul

    On Target.....Sometimes
    Rating - 100%
    3   0   0
    May 15, 2008
    834
    16
    Western KY
    sraacke said:
    I'm getting ~$60 from the Feds and ~$40 from the State. Should be in my account in a week or so.
    Click to expand...

    PPBart said:
    I actually enjoy these few months -- full-time retired, but I work tax season for a major tax-return prep firm. Don't make much money, but it's always interesting, sometimes challenging, some people I look forward to seeing each year, some are real jerks (but that's just part of the challenge). I haven't filed my return yet, but that's just a matter of a few keystrokes. Like the CPA above, I always aim for break even -- this year, I've got to pay another $77, so that's pretty close.
    Click to expand...

    I would say both of you are doing pretty well at approaching $0.
     
    K

    kcinnick

    Training Ferrous Metal
    Rating - 100%
    28   0   0
    Dec 24, 2008
    4,723
    38
    Baton Rouge
    Praesul Presul said:
    I would say both of you are doing pretty well at approaching $0.
    Click to expand...

    What helped me out was taking 2 classes at LSU last year and my bonus was held at a higher than normal rate, otherwise I would have been pretty close to 0, or owing a few bucks. If I would have known how much money I was getting back I would have filed months ago...
     
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