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Started By
Message
1
Posted on 4/9/24 at 9:43 am to ApexTiger
Owed $500. Paid it off already
Posted on 4/9/24 at 9:47 am to ApexTiger
Uncle sam gets over $20k from me to sent to Ukraine.
Posted on 4/9/24 at 9:48 am to ApexTiger
Money owed is what I expected but still really fricking high. I don’t understand why, I am a W-4 worker and selected the options that took the most out of my paycheck and I still owe a frick load. I don’t know how.
Posted on 4/9/24 at 9:51 am to Cosmo
quote:
Owed a fricking lot
frick the fedgov/IRS
This. Much of my compensation is "independent contractor", so the self-employment tax and all that crap kicks in.
Every year, I feel like I bust my arse, only to give a chunk of it back to the government so they can support people who do NOT bust their arse and are content to be that way.
If that makes me an awful conservative white person, then so be it.
Posted on 4/9/24 at 9:53 am to Oilfieldbiology
Just give them your whole paycheck and they'll determine what if anything you'll be allowed to have back once a year. That's the only sure way to get it right, by design.
Posted on 4/9/24 at 9:54 am to ApexTiger
$153 to Feds.
State came in exactly 0. I don't owe them, they don't owe me.
State came in exactly 0. I don't owe them, they don't owe me.
Posted on 4/9/24 at 10:08 am to ApexTiger
About what I expected. Owe about 8k. Paying it the last possible second out of spite. 
Posted on 4/9/24 at 10:10 am to Yaboylsu63
quote:
Owed about $2500.
Pretty pissed about it.
Wasn’t expecting a refund but did think it was going to be in the 500-1000 range.
What do you do about that? Do you have to pay them up front?
This year we owe like around $1600. First time we've ever owed. I do my taxes online. Are they going to just ask me to pay upfront or do I pay in installments?
Posted on 4/9/24 at 10:11 am to ApexTiger
owed just north of 50k this year. new record.....yay? Wife is 1099 so thats where most came from.
Posted on 4/9/24 at 10:14 am to ApexTiger
quote:
you could give 10 accountants the same information,and you might get 10 different results
At one time there was a magazine-MONEY magazine that held a contest in which they would create a fictitious family and have various tax preparers,CPA’s,etc do the tax return.The winner got a prize of $10,000.
The results were all over the place,it was amazing the different tax liability some them came up with.Some high priced CPA’s were embarrassed.It only last a few years as they couldn’t get anyone to compete any longer.
Initially they had some 25 participate.
Our tax system is so convoluted I wonder how they determined the winner.
Actually I think they had some retired IRS agents as judges,if I remember correctly.
That brings up another issue.They would call IRS helplines all over the country and pose as a taxpayer and ask various questions about tax issues.
The magazine said 50% of the answers they got were wrong.
This post was edited on 4/9/24 at 10:15 am
Posted on 4/9/24 at 10:15 am to LSUA 75
That's awesome
Posted on 4/9/24 at 10:17 am to ApexTiger
Getting about $3600 this year. Bit disappointed though bc I got more last year.
Posted on 4/9/24 at 10:17 am to DownshiftAndFloorIt
quote:I believe it is because we are in a position where we can only use the standard deduction.
So why can you not file as married w/3 and end up breaking even in April? Because in my stupid little simple brain this shouldn't be any harder than that.
Posted on 4/9/24 at 10:20 am to Kracka
quote:
What do you do about that? Do you have to pay them up front?
They'll ask you how you want to pay when you file but they want your money now. The IRS charges a penalty on late taxes so it'll cost you to pay in installments.
Posted on 4/9/24 at 10:22 am to ApexTiger
Self employed. Filed extension via TurboTax.
Posted on 4/9/24 at 10:25 am to bad93ex
Yea yea I get it. I know it just doesn't work like that. It's all smoke and mirrors so the peasants of the country can't see how bad they're getting fricked.
This should be really, really simple.
This should be really, really simple.
Posted on 4/9/24 at 10:31 am to DownshiftAndFloorIt
As I stated in the Money Board we really overpaid this year. I was afraid the K-1 from my wife's S Corp was going to be much higher than last year (it was higher but not that bad) and we made large lump sum tax payment in December to cover it. Turns out not needed. so we got back 23k fed. (9k going to '24 estimated)
Posted on 4/9/24 at 10:43 am to BottomlandBrew
quote:
I owed $7k last year. My new accountant doing work.
owed $14K last year....owe $342 that i just mailed today.
Posted on 4/9/24 at 10:44 am to LSUGrad9295
quote:
Every year, I feel like I bust my arse, only to give a chunk of it back to the government so they can support people who do NOT bust their arse and are content to be that way.
Same boat and I hate it, we just stroked a big check for them to mismanage again.
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