To file TAX online or through an agent?

[w¡n9Nµ7 §£@¥€r 123]

... then it says that I have an amount of about $1,200 of Federal Refund due...which means that we owe IRS $1,200?? #######??

All we did last year was work and we didn't even own any property..

As de_sjiem said, it is possible the Feds owe you money and not the other way around.

But more to the point, just because you worked and didn't owe property doesn't mean you won't owe taxes come tax time. You can quite easily owe them taxes if you don't have enough withheld from your paychecks. Having enough money withheld is your responsibility.

[wong_watkins 1]

Was trying to file tax on TurboTax..

After I entered all the information from all of mine and hubby's W-2s, then it says that I have an amount of about $1,200 of Federal Refund due...which means that we owe IRS $1,200?? #######??

All we did last year was work and we didn't even own any property..

I wasn't even half way through the filing process but we decided to fxck it we'll go to H&R block tmrw..

I believe taht "federal refund due" means money that the IRS owes you.. so that means the IRS owes YOU $1200...

But happened, though, is when I finished entering the first W-2 information of my hubby, the number was green, and it says"Federal Refund: $XXX.00"..but after I put in his other W-2 and my W-2s and so on, the number started dramatically going down, the number turned red and it says"Federal Refund Due: $1200.00"....

We could owe them money but oh please I really hope not...

Will go somewhere have it filed tmrw...

[Laveau 67]

The year before last I went to H R Block. The fee for them to prepare was about $100. Last year my friend gave me his Turbo Tax software. It was extra easy to use and costed me nada. I'm not sure if I will go buy the software this year but it seems I can just do it online from what I'm reading. I know for sure I will NOT be going to expensive azz H R Block or anywhere else.

[Laveau 67]

Was trying to file tax on TurboTax..

After I entered all the information from all of mine and hubby's W-2s, then it says that I have an amount of about $1,200 of Federal Refund due...which means that we owe IRS $1,200?? #######??

All we did last year was work and we didn't even own any property..

I wasn't even half way through the filing process but we decided to fxck it we'll go to H&R block tmrw..

I believe taht "federal refund due" means money that the IRS owes you.. so that means the IRS owes YOU $1200...

But happened, though, is when I finished entering the first W-2 information of my hubby, the number was green, and it says"Federal Refund: $XXX.00"..but after I put in his other W-2 and my W-2s and so on, the number started dramatically going down, the number turned red and it says"Federal Refund Due: $1200.00"....

We could owe them money but oh please I really hope not...

Will go somewhere have it filed tmrw...

Perhaps like Gupt said, you didn't have enough taxes withheld during 2006. I hope you don't owe. That would suck! Good luck.

[doodlebug 3]

Has anyone even recieved their W-2's yet?? I keep looking in the mail but nada.

Between my wife and I, I am expecting 3 W2s this year. So far I've only received one. I'm also expecting multiple interest income, mortgage and brokerage tax statements.. I've received only one of them. Still waiting...

Yeah I'm waiting on my W-2 and my mortgage interest statement. I guess I could get my daycare information while I'm waiting. I hate that the government has my money though!

Edited January 28, 2007 by doodlebug

[Mr. Big Dog 10,747]

I hate tax season. I never get a refund

Which really means you never loan the government money for free. Everyone getting a large refund should be crying as they have overpaid the government all year long and have missed out on earning interest on what would have been their long balances. Folks that get huge refunds are the suckers. Folks that get small refunds or owe a small balance have done the right thing and given the government just what it was due.

[babybunny 2]

I use Turbo tax online.

[Alex+R 0]

I hate tax season. I never get a refund

Which really means you never loan the government money for free. Everyone getting a large refund should be crying as they have overpaid the government all year long and have missed out on earning interest on what would have been their long balances. Folks that get huge refunds are the suckers. Folks that get small refunds or owe a small balance have done the right thing and given the government just what it was due.

How do I have a choice in what gets taken out of my paycheck? (seriously asking)

PS I used online Turbo Tax too.

[Caladan 19]

I haven't decided. My dad's accountant has done my taxes as a freebie for the past 13 years, but I'm residing in a different state now, and while he's offered, I really should be doing this myself. Might go with H&R block, but it's pretty stupid for me to as all I have is one W-2.

[dalegg 143]

I hate tax season. I never get a refund

Which really means you never loan the government money for free. Everyone getting a large refund should be crying as they have overpaid the government all year long and have missed out on earning interest on what would have been their long balances. Folks that get huge refunds are the suckers. Folks that get small refunds or owe a small balance have done the right thing and given the government just what it was due.

How do I have a choice in what gets taken out of my paycheck? (seriously asking)

PS I used online Turbo Tax too.

You do what I do- Claim more dependants than you actually have when you submit your W-4 at work. I claim 11. It sounds crazy and a lot of people think that it's illegal somehow, but it's not. It's only illegal to claim more dependants than you actually have on your end of year tax return forms.

ET is absolutely correct on this one, and to make matters worse, if you get a State refund, the Federal Government will tax that the next year. This just ticks me off no end- and 8 of my 10 kids, plus my wife don't care for it either!

[Alex+R 0]

I hate tax season. I never get a refund

Which really means you never loan the government money for free. Everyone getting a large refund should be crying as they have overpaid the government all year long and have missed out on earning interest on what would have been their long balances. Folks that get huge refunds are the suckers. Folks that get small refunds or owe a small balance have done the right thing and given the government just what it was due.

How do I have a choice in what gets taken out of my paycheck? (seriously asking)

PS I used online Turbo Tax too.

You do what I do- Claim more dependants than you actually have when you submit your W-4 at work. I claim 11. It sounds crazy and a lot of people think that it's illegal somehow, but it's not. It's only illegal to claim more dependants than you actually have on your end of year tax return forms.

ET is absolutely correct on this one, and to make matters worse, if you get a State refund, the Federal Government will tax that the next year. This just ticks me off no end- and 8 of my 10 kids, plus my wife don't care for it either!

They tax your state refund?? Then why don't I just give it back, ha. I am so clueless about this stuff... Maybe I will start claiming 47 dependents.

ETA: LOL@ 8 of my 10 kids...

Edited January 29, 2007 by Alex+R

[ELW 5]

Has anyone even recieved their W-2's yet?? I keep looking in the mail but nada.

I received 2 of the 3 W-2's I'm expecting. I was assured that the law states they have to have it mailed out by the 31st soo...

Since this is my first year filing in my entire life, I'm going to H&R block. (I lucked out - I got a "Mystery Shopping" job that pays me $75 to go to H&R block to get my taxes done for FREE - all fees paid!) I figure I can learn the ropes this year and do Turbo Tax from next year onwards.

[doodlebug 3]

You just have to be careful about claiming too many deductions on the W4 because if you do not have enough taxes withdrawn from your paycheck I believe you may owe a penalty. I could be wrong since I haven't prepared taxes in about five years. You may be ok if it's the first year you did it but in future years you could be penalized. Just watch out and don't go overboard because there's a limit of how much you need to pay in estimates each quarter and your paycheck withholdings count as your estimates.

Hope that made sense.

I get back a big chunk of change each year, I'll admit it. I know I could be earning interest but truth be told in reality it wouldn't be sitting in a savings account, it would be enjoying itself at Macys or something. I claim 8 on my W-4 too so it's not like I'm claiming 0 or something. I just have a lot of deductions, such as mortgage interest, childcare expenses, etc.

[dalegg 143]

You just have to be careful about claiming too many deductions on the W4 because if you do not have enough taxes withdrawn from your paycheck I believe you may owe a penalty. I could be wrong since I haven't prepared taxes in about five years.

Yes, you are correct. You are supposed to pay 90% of your tax liability when it's actually due. People who own their own businesses are supposed to pay quarterly. I know contractors who slip on this and wind up in the hole for tens of thousands of dollars.

[eric&gen 0]

I go to pay an H&R block agent to do my taxes i dont trust myself.