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Why would you ever pay them way before the payment is due? See what NYS is doing to those that were due a refund? They're dragging the process out as long as they can.
In general, you should keep your money to the last possible moment and then pay...if you are due a refund, you should file as early as possible.
Ultimately, there is this pervasive human nature type thing that makes us happy about receiving a big refund. However, that's really not the best way to go about things because it means that the state and/or federal government has been holding and using your money (interest free) for an extended period of time. You could be using that money to work for you - even in these tough economic times.
Couldn't agree with you more
The way to get your money on an ongoing basis rather than at tax time, is by increasing your exemptions...
It's against the law to falsify your exemptions by increasing them to more than what they actually are.
You can actually go to the IRS website and enter your latest payroll information, as well as your expected taxes and deductions, and they will tell you how to adjust your W4 to get your next year's refund close to zero. In my case they told me to increase my dependents to 4, even though I only have 1 child. So I can't see how they can have an issue with people doing this. Neat tool - we got a huge refund this year since we had a bunch of life changes and made some bad assumptions - I would much rather have the money all year.
You can actually go to the IRS website and enter your latest payroll information, as well as your expected taxes and deductions, and they will tell you how to adjust your W4 to get your next year's refund close to zero. In my case they told me to increase my dependents to 4, even though I only have 1 child. So I can't see how they can have an issue with people doing this. Neat tool - we got a huge refund this year since we had a bunch of life changes and made some bad assumptions - I would much rather have the money all year.
Thanks for the info! I guess I have been going by the old rules.
It's against the law to falsify your exemptions by increasing them to more than what they actually are.
What I suggested is not against the law. Exemptions don't equal dependents. Exemptions can include dependents as well as itemized deductions from Schedule A. The worksheet attached to the W-4 form spells it out in detail.
I don't see an AMAZON product, they sell turbotax and tax act. I've used turbotax for 4 yrs now, just simple "fill in the blanks" plus efile is convenient.
We received your return and it's in the final stage of processing. While most returns are completed within 2 weeks, it may take up to 4 weeks. This has been my message for the past month! I am so annoye - I paid my taxes on time - they should be held to the same
Unlike last year, this year I received my return within a few weeks, what I would consider a reasonable amount of time.
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taxes
