[Slipperman]

i use Taxact to file every year (both state and federal) and after finishing up this years CT return, i found i owe the state $379..

now first of all, with pretty much the same return i filed last year (comparable W2 and 1099 totals) where i got an $18 refund, how is it i now owe $379? that's a big jump.

second, after e-filing your return (where you don't have to mail it), what is the accepted procedure for making your state payment? do you just send your check to the same place as you would your return but without the return or to a different address? Taxact isn't offering much help on this.

[JViello]

Originally Posted by Slipperman

i use Taxact to file every year (both state and federal) and after finishing up this years CT return, i found i owe the state $379..

now first of all, with pretty much the same return i filed last year (comparable W2 and 1099 totals) where i got an $18 refund, how is it i now owe $379? that's a big jump.

second, after e-filing your return (where you don't have to mail it), what is the accepted procedure for making your state payment? do you just send your check to the same place as you would your return but without the return or to a different address? Taxact isn't offering much help on this.

LOL (Not laughing at you but how badly the population got duped by the governor and legislature with the last budget.)

My accountant normally just hands me the envelopes and says "sign this, pay this much" etc. BUT IIRC, your payments go to the DRS. I bet you can find more info on the state DRS website.

[reed303]

Originally Posted by Slipperman

i use Taxact to file every year (both state and federal) and after finishing up this years CT return, i found i owe the state $379..

now first of all, with pretty much the same return i filed last year (comparable W2 and 1099 totals) where i got an $18 refund, how is it i now owe $379? that's a big jump.

Did your employer adjust your withholding due to the retroactive CT income tax increase this year ??

second, after e-filing your return (where you don't have to mail it), what is the accepted procedure for making your state payment? do you just send your check to the same place as you would your return but without the return or to a different address? Taxact isn't offering much help on this.

Quote from DRS website:
[SIZE=2]"How do I pay the tax due?[/SIZE]
[SIZE=2]If you owe money, you now have the following payment options. [/SIZE]

1. [SIZE=2]
2. DIRECT PAYMENT - have the payment automatically withdrawn from your savings or checking account on the date you specify up to April 18, 2011. (PLEASE BE ADVISED THAT MOST BANKING INSTITUTIONS WILL NOT ACCEPT DIRECT PAYMENTS (ACH DEBIT) FROM PASSBOOK SAVINGS ACCOUNTS. IF YOU ARE GOING TO MAKE A PAYMENT FROM A SAVINGS ACCOUNT IT IS RECOMMENDED THAT YOU CONTACT YOUR BANK AND VERIFY YOUR ACCOUNT WILL ACCEPT THIS TYPE OF TRANSACTION.)
3. CREDIT CARD - pay by credit card, provided you filed a Connecticut income tax return on the prior year, by calling 1-800-2pay-tax (1-800-272-9829) and following the instructions or visit their website at www.officialpayments.com and select Payment Center. At the completion of the transaction you will be given a confirmation number for your records. All payments must be submitted by April 18, 2011 to avoid penalty and interest charges. A convenience fee of the total tax payment will be charged to your account by the credit card service provider.
4. BY MAIL - by submitting your check or money order with Form CT-1040V, supplied by your software company or tax professional.
5. TSC - pay using the TSC's payment only option."[/SIZE]

[Slipperman]

thanx for the info..
did the state tax really go up that much? that was a $400 turnaround.

[JViello]

Originally Posted by Slipperman

thanx for the info..
did the state tax really go up that much? that was a $400 turnaround.

That depends...you must be one of the evil "rich" ones.

[Slipperman]

Originally Posted by JViello

That depends...you must be one of the evil "rich" ones.

HA.. me rich? that's a good one.

[JViello]

Originally Posted by Slipperman

HA.. me rich? that's a good one.

Join the club.

[Slipperman]

"Did your employer adjust your withholding due to the retroactive CT income tax increase this year ??"

they may have. but i made out the W4 the way i always do - claiming just me as a dependant.

[reed303]

Originally Posted by Slipperman

"Did your employer adjust your withholding due to the retroactive CT income tax increase this year ??"

they may have. but i made out the W4 the way i always do - claiming just me as a dependant.

Being retired I didn't have to deal with it myself, but it was an issue for my daughter and SIL. Their employers had to raise their withholding deductions mid-year to make up for the first half of year as tax increase was retroactive to 1st of year, or they would have been under-withheld. FWIW, $400 extra tax would equate to about $8000 extra income (at approx 5% rate). Or something else changed, etc. I would suggest reviewing printouts from TaxAct to see where the difference is.