Don't forget April 15 is “Buy a gun day”!
Posted on 04/10/2015 5:23:07 PM PDT by Rio
My first-ever vanity post... After some amount of web-surfing, it sounds like the IRS is claiming that processing tax returns and issuing refunds may be expected to take longer than normal. They blame this variously on a long-ago shutdown , Obamacare, and lack of funding.
So I'm soliciting actual FReeper experiences with 2014 tax refunds and how long it took to get them.
If you filed and received your refund, I'd be interested to know roughly when you filed and how long it took.
If you filed and HAVEN'T yet received a refund, same thing.
Full disclosure: I e-filed last weekend and am just wondering how long to expect to wait.
I don’t get a refund. I have to pay.
Bummer. I’m Turbo-Tax also. My research indicated that IRS has new systems in place to catch bogus returns. Didn’t think that would affect paper returns. Maybe it does. You’ll probably have to wait until they can schedule a human to look it over.
I look at my refund as a loss. I overpaid and the IRS is holding on to my money, or using my money, without paying me any interest. That money could be in my bank earning interest.
Did my taxes the first week of February. State and Federal were in my account ten and fourteen days afterward.
Not really. I own my own business. My wife works for a large hospital. Our returns fluctuate annually due to a lot of factors. For example, one year I had to buy a new $6500 camera. In December. I took the entire depreciation for that and a couple of large capital expenses. We got back all of the withholding for that year. Plus, we got back a good chunk of the payments we made over the year.
We are not all gimme-dats. Sometimes we take back what is rightfully ours.
I wasn’t referring to people like you, but I’ve come across more than one who got a big refund check and bragged about it as if they thought they didn’t pay any taxes at all.
I have no idea what you’re talking about.
Don't forget April 15 is “Buy a gun day”!
What’s a tax refund?
It depends on your situation. If you are just a wage earner and have at least paid as much tax as you owed last year, there is no penalty. Also, if you are within a certain percentage (don’t know the exact number) you are fine.
If you have income from other sources and pay estimated taxes, it gets more complicated and there are other criteria. I do a running calculation throughout the year and usually estimate it very close. But, there are some tax preference items like qualified dividends that I don’t try to account for, because I don’t know the exact amount. So, I treat all dividends as ordinary income.
I end up getting a small to medium—sized refund every year, but simply reduce my first estimated tax payment on 4/15 by that amount.
why is that YOU people get tax refunds and people like me just pay, pay, pay....
Lol. Excuse us for getting money back. I work and my husband is enlisted in the military. I guess our types aren’t welcome on FR.. :)
Then why are you overpaying?
JT
Getting a refund back doesn't mean you don't pay taxes. It just means there is more than one way to skin cat.
Most people here can do our math well enough to NEVER have to rely on the government to give us back our money...
About 5 days.....
Filed electronically...The State return took about 3....
Fed under 2 weeks, State...still waiting.
Yeah, I know I didn’t. They had a bunch of my money they weren’t entitled to. Oh well, at least I’m getting it back.
I am guessing he was being sarcastic.
Our clients are getting them as soon as 8 days. IRS says 8 to 21 days is the norm. Unless you have Obamacare and don’t do the true up form 8972. Then you go into the review pile.
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