To file TAX online or through an agent?

[Mr. Big Dog 10,747]

... 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...

Well, seeing that you deducted all of the withheld state tax from your income, it is only correct to tax that portion that is returned to you by the state for the tax year in which it is returned. Otherwise, I could overpay my state taxes to the point that I won't owe any federal income taxes at all and when the state refunds the overpayment, I'd be home free.

[Hilarious Clinton 452]

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...

Follow through with the calculations and see what happens. Going partway through gives you only part of the picture.

[wong_watkins 1]

Yup I do owe the IRS $1200..

Did not have enough federal tax withheld from both of our paychecks..found out that not even 5% of our income was withheld..

Learned our lesson and won't do it again

[Hilarious Clinton 452]

Yup I do owe the IRS $1200..

Did not have enough federal tax withheld from both of our paychecks..found out that not even 5% of our income was withheld..

Learned our lesson and won't do it again

Hopefully you won't have to pay a penalty. Over-withhold all you want (interest free loan to the government) but under-withhold too much and they charge a penalty. That always bothered me.

[RaspberrySwirl 20]

I'm not sure yet.

I could do it myself online maybe. I did that last year but didnt' file it that way. Decided to go with the accountant anyhow. But I was correct in my calculations.

No idea yet.

What happens if I do something wrong while filing?

[Hilarious Clinton 452]

What happens if I do something wrong while filing?

If they catch a mistake they will basically send you a bill saying you owe them $$. I've had this happen and had to pay extra and I've even got more money back for a mistake in the other direction. Your OK as long as you are not trying to defraud them.

[RaspberrySwirl 20]

What happens if I do something wrong while filing?

If they catch a mistake they will basically send you a bill saying you owe them $$. I've had this happen and had to pay extra and I've even got more money back for a mistake in the other direction. Your OK as long as you are not trying to defraud them.

Compared to filing Belgian taxes, this seems pretty straight forward to me.

I was using Turbotax. Just wondering if it's worth not paying the $80 to the accountant. Hehe. I get worried about stuff.

[Mr. Big Dog 10,747]

What happens if I do something wrong while filing?

If they catch a mistake they will basically send you a bill saying you owe them $$. I've had this happen and had to pay extra and I've even got more money back for a mistake in the other direction. Your OK as long as you are not trying to defraud them.

I've made a "mistake" once filing with a bad filing status. They didn't catch it. I did a couple years later. Upon discovering the error, I filed form 1040-X using the correct filing status and they refunded me some money - with interest.

[wong_watkins 1]

I hate tax season. I never get a refund

Better than owing them..

[TracyTN 237]

What happens if I do something wrong while filing?

If they catch a mistake they will basically send you a bill saying you owe them $$. I've had this happen and had to pay extra and I've even got more money back for a mistake in the other direction. Your OK as long as you are not trying to defraud them.

Compared to filing Belgian taxes, this seems pretty straight forward to me.

I was using Turbotax. Just wondering if it's worth not paying the $80 to the accountant. Hehe. I get worried about stuff.

Most online tax filing places (I use TaxAct) have some kind of program where they will reimburse you if you get a notification from the IRS that the filing was incorrect. So I say save yourself the $80!

I will probably use an accountant for 2007 - I have a small business aside from the immigration issues. This year, though, the business didn't make enough for me to have to report it. So TaxAct, here I come!

Edited January 29, 2007 by TracyTN

[tnh9479 1]

There are so many online e-file places. If you go to the IRS website, they list a whole bunch of them. I have e-filed for the past 4 years. Unless you have a small business or are self-employed, it is pretty simple.