Taxes!

That said, would the assmonkeys I freelanced for PLEASE get their W2s in my mailbox now? Y'know, so I don't have to push the deadline envelope?

W2s? How interesting, I usually get 1099-MISC.

Taxes suck, but I like to think that my check is earmarked for non-killing government stuff like NASA telescopes or NEA grants or the OSHA for Kids web site.

I'm told that the loan for the house I'm buying is structured in such a way that I can deduct the entirety of my mortgage payments. Something smells very Fat Tony about it, but if true I'm really looking forward to that.

I'm trying to get it done by Tuesday so I can just go to my accountant's and be like, "here's the stuff, it's done, go to it." Then I get to watch my hard-earned checking account drain away. Sigh. It'll be worth it to have it behind me, though.

Nothing was taken from that relatively small amount of profit, but I assume it will absolutely drain any chance I have at a refund. (The last few years have been just under $1K.)

I can't see how I can possibly owe you two grand. I'm sure there are people who make twice as much as me who don't owe fuck.

stockholm syndrome

they really did become much more complicated a few years ago for me, but luckily i only have one 1099 this year, so absent some colossal fuckup on our healthcare advocate’s end, we won’t owe money this year— last spring, we got a new coat put on the roof and also owed the IRS $1300 because we made more money than we had predicted on our healthcare forms. doesn’t sound like much but it basically ruined the next four months of our lives.

gonna have to do the installment plan this year :(

It's not impossible to figure out what needs to be done to fill out one's taxes, just detailed, time-consuming and very tiresome. For example, Oregon's lawmakers keep adding credits, then removing them, or changing the qualifications. A few years ago the OR Dept. of Revenue revised their basic tax form from 2 pages to 4 pages. When the big federal tax changes were passed at the tail end of December 2017 it caused states to make cascading revisions to counteract the many punitive features the Republicans inserted just to pwn the libs in the NE and west coast. So, have fun!

People act like taxes are like slide-ruling a mission to Mars but they’re really not IME.

Very much depends on circumstances I think. Mine are more complicated since becoming self-employed, though still not excessively so. We do standard deduction, but if you're in an itemizing-deductions situation, that gets more complicated too. For all the years my wife and were just getting employer W-2s and a little bit of freelance income, yeah, that was easy-peasy.

I have the extra simplicity of living in a state with no income tax. Big change from my NYC years where there was federal, state AND local.

Oregon is a challenge as far as states go, you are otm Aimless. And then there is the Multnomah County form on top of that…

made it

Uhm, for the first time in a long time, we haven't received the refund we are supposedly owed, despite it being more than three weeks (or 21 days) from being submitted. Truly afraid they're gonna audit us, even tho we have little to no money and have been struggling for the past year and a half.

Have you checked the status of the return on the IRS/state website? That will tell you if the refund is processing.

It has been received and is processing.

It was "accepted" by both state and federal the day after I filed, which was a Sunday.

It’s more common to get a correction letter than be audited… like way way more common. Lmk if anyone is interested in hearing more about this… I seriously don’t want to take up space with this stuff if no one gaf

You're in the right thread, have at it

I am deeply interested

Full scale audits are too expensive to impose them on us little people.

I'm in a slightly weird spot myself -- not the end of the world -- where my initial returns went in, but I only got partial refunds back; turns out my preparer -- who I've used for many years! -- missed a bit of coding, so had to send in amended returns. The remainder from the state came back in a week but I haven't seen anything yet from the feds, and given all this there's no way I can immediately track the progress of that amended return. (Unless I'm missing something? Any advice welcome! But larger point here -- table, you're not the only one seeing a delay, so I wouldn't fret here.)

xp lmao it's like if chatgpt got an ilx login

https://trac.syr.edu/reports/706/include/figure2.png

I tried the new free Fed online filing system... just 100,000 used it, so I feel special. We'll see if my refund actually shows up

https://www.youtube.com/watch?v=l_YMrHssFXo

that’s what i used too

Full scale audits are too expensive to impose them on us little people.

So … the things that could happen that not getting your refund in 3 weeks could indicate:

1. It might show up next week because of their processing cycle.
2. The IRS thinks there was a mistake:
2a. The IRS fairly primitive computer system matches what you report on your tax return to what others have reported as having been paid to you or received from you.
2b. The IRS rarely gaf if you fail to report student loan interest paid or take a deduction for mortgage interest… so usually it’s an income side mismatch.
2c. If you failed to report income of a type they have on record that you received or if you reported less than what they have on record that you received, they will most likely send you a correction letter.
3. This is a classic pass-agg document that says “you said this” … “however we think you should have said that. If you disagree, file an amended return or contact us, otherwise we will assume we are right and you owe us money.” The document will also come with instructions how to pay them what they think you owe.
4. Sometimes they are wrong.
5. Unless you agree with their corrections, it’s often best to file an amended return because there are potential deductions in relation to the income that the IRS is not going to calculate for you.

Ime the most common things the IRS catches and sends correction letters on are:
1. Unreported self employment income
2. Investment income that is in your name but a relative deals with the account and you don’t have the paperwork sent to you so you often forget it exists (see also: aging parents)
3. Unemployment income for short periods of time
4. Cashing out a retirement plan or life insurance policy from a former job especially if there was hardly any money in it to begin with
5. A w2 from a job you quit in January that you forgot about and they sent it to an old address

6. Investment income from a stock plan from a company you no longer work for because brokerage firms will often not report the basis of employer stock so when you sell it it shows the cost basis as 0 and it looks like you made a huge profit

The IRS fairly primitive computer system

every year I get a letter from them about 1099s and it's like "Sorry, but the name doesn't match the SSN#" and invariably the name DOES match the actual SSN# but their 1953 scanners read the name and/or SS number wrong

We had an issue where the IRS kept saying we owed money that had already been paid long before. We had the receipts and everything, yet every two to three months we went through the cycle of getting a letter in the mail stating we still owed the money > logging in to see that indeed the payment had been made but was listed as "processing" > waiting on hold for two hours for a rep to confirm we had been paid and no need to worry, the system was just lagging behind due to the pandemic backlog > getting another letter stating we owed the money > rinse and repeat for about 16 months before it was finally resolved.

Ugh … sorry.., I mean I don’t work for the IRS so it’s not my fault but

_The IRS fairly primitive computer system_

every year I get a letter from them about 1099s and it's like "Sorry, but the name doesn't match the SSN#" and invariably the name DOES match the actual SSN# but their 1953 scanners read the name and/or SS number wrong

hey guys did you know I'm so baller that in addition to working my full-time job, I made $14,000 in non-employee compensation from DoorDash in 2022?

Me neither! but the IRS seems to think I did!

(i'm not actually even stressed, I'm giggling .....clearly someone fucked up)

i may have questions for this thread as I report this obvious mistake.

Did someone steal your SSN# or something?

i think if someone outright stole it, I'd have noticed before now. but I am checking my credit report just in case.

feel like it's more a case of someone who was keying in an SSN made a one digit error, but who knows.

apparently this is a thing that has happened to other people though:

https://www.reddit.com/r/IRS/comments/18rk1gu/someone_used_my_wifes_social_for_doordash/

Yeah, it's not like DoorDash requires you to show the actual SS Card - you can probably tell them any old number

years ago I worked at design firm and we briefly had a contractor from eastern europe.. I kept asking her to complete the W-2 (she claimed her SSN# was 'private') and when she finally handed it back to me, her SSN# was XXX-XX-1234 .. literally 1234 were the last four digits. Huh, what are the chances of that?

CONFIRMED - IDENTITY STOLEN.

looked at the transcripts and you can see the address that Doordash had for me is one I've never had in history. this should be a fairly easy process to dispute as I can prove on my own credit report I've never lived there. have set up credit freeze and fraud alert on my account. have all of the forms ready to go.

shit, that sucks! Nothing with the IRS is ever quick & easy, tho

they haven't met a guy with infinite patience to be annoying like me before

You will end up getting an IP PIN that they will send you each year until you die

bleh.

looks like the guy got deactivated eons ago but may have actually been using my DoorDash account. cunning.

FTC report and IRS ID theft report filed electronically, just gotta respond to the CP2000 now.

jeeeeezus

Doordash replied with what seems like a form letter to indicate yes it was fraud and they deactivated the account. apparently this happens so much at their great, well-run company that they already have a template for it.

welp that'll make my claim with IRS easier.

Tempted to post in the No Way NYT thread about the morning newsletter that gets a basic analysis of the 2017 TCJA wrong in terms of homeownership deductions… but people would probably be annoyed/disappointed by the banality of my no way

Still no refund. Anticipating full fucking audit and utter financial ruin.

I seriously doubt that, T … re audit

Though I totally understand the anxiety… I remember when I got cited for having “borrowed” registration tags on my car and I had convinced myself that I was going to be sentenced to jail or picking up garbage on the freeway in a yellow vest … I ended up with a $250 fine and that’s it

My tax preparer is a Republican (they're hard to avoid around here), and we've tacitly agreed to avoid politics when I meet with him every year. I asked him if there were any tax credits for our new heat pump, and got in a dig at red states that dragged their feet about implementation of the Inflation Reduction Act, hoping for a Trump win so they wouldn't have to do anything at all. He sent me an info sheet with a list of tax credits, seemingly not specifically tied to the IRA, and said I'd qualify for the $600 for a new AC. I said "what about the $2K further down the page that specifically refers to heat pumps?" He said "oh gosh you're right!" I think I need a new tax person.

I don’t use ILX to solicit clients but if you want to DM me about it…

Huzzah. (Everything is ready, I just need one more form, and it sure would be nice to get that one more form, he said generally to the universe.)

Man there’s stuff I don’t get until well into February

Thought the bump would be with the deadline looming here in the UK.