Tax Season

[Factorial]

uh

so I got a letter yesterday from the IRS: "We received your income tax return and are in the process of conducting a thorough review of your return information. This review is part of an ongoing program the IRS conducts to insure the accuracy of return information".

has anyone gotten a letter like this before? I'm kind of irrationally worried since I know I just reported what was on my W-2 and didn't have any tax credit claims

No student loan interest deductions? What form did you file?

[MalkinIsMyHomeboy]

uh

so I got a letter yesterday from the IRS: "We received your income tax return and are in the process of conducting a thorough review of your return information. This review is part of an ongoing program the IRS conducts to insure the accuracy of return information".

has anyone gotten a letter like this before? I'm kind of irrationally worried since I know I just reported what was on my W-2 and didn't have any tax credit claims

No student loan interest deductions? What form did you file?

no. I actually didn't know I could deduct student loans.

haha ugh. I hate taxes

edit, actually no, I don't think I qualify for that deduction because I didn't start paying back the loans until this January, so nothing in 2014

[Factorial]

uh

so I got a letter yesterday from the IRS: "We received your income tax return and are in the process of conducting a thorough review of your return information. This review is part of an ongoing program the IRS conducts to insure the accuracy of return information".

has anyone gotten a letter like this before? I'm kind of irrationally worried since I know I just reported what was on my W-2 and didn't have any tax credit claims

No student loan interest deductions? What form did you file?

no. I actually didn't know I could deduct student loans.

haha ugh. I hate taxes

edit, actually no, I don't think I qualify for that deduction because I didn't start paying back the loans until this January, so nothing in 2014

It's only the interest that you can deduct I believe. You should get a form from then at the end of every year.

So, you filed a 1040EZ and are being audited? Strange, but I wouldn't worry if you accurately entered your W2 information.

[dodint]

If you have a Discover card, you can also get your FICO score through their dashboard.

PSECU does this now. I'm certain USAA doesn't because they have a credit monitoring partner (Experian) that charges $12.95 a month for credit reports and 'FICO'.

[mac5155]

uh

so I got a letter yesterday from the IRS: "We received your income tax return and are in the process of conducting a thorough review of your return information. This review is part of an ongoing program the IRS conducts to insure the accuracy of return information".

has anyone gotten a letter like this before? I'm kind of irrationally worried since I know I just reported what was on my W-2 and didn't have any tax credit claims

#hopeyouboughtauditprotection

[Reveutopique]

Can't wait until April 17th or whatever.

[blackjack68]

uh

so I got a letter yesterday from the IRS: "We received your income tax return and are in the process of conducting a thorough review of your return information. This review is part of an ongoing program the IRS conducts to insure the accuracy of return information".

has anyone gotten a letter like this before? I'm kind of irrationally worried since I know I just reported what was on my W-2 and didn't have any tax credit claims

Any more info?

Doesn't seem like you did anything wrong, except get randomly picked for review.

[Freddy Rumsen]

So in 2015 my health insurance costs will no longer be tax deductible, but will now have to be calculated as income.

#yeahobamacare

[willeyeam]

weenie if you screwed up reporting a return that only has a w-2 you deserve all the penalties

[willeyeam]

So in 2015 my health insurance costs will no longer be tax deductible, but will now have to be calculated as income.

#yeahobamacare

not sure that has anything to do with obamacare

[Freddy Rumsen]

So in 2015 my health insurance costs will no longer be tax deductible, but will now have to be calculated as income.

#yeahobamacare

not sure that has anything to do with obamacare

No, it does. The letter I received from my health provider helpfully quoted the section of the law that changes the designation.

This only effects those of us who are self-employed and are therefore "self-insured".

Basically the idea here is to force me to go through an exchange rather than using a private insurer.

[willeyeam]

ahhh well then that sucks

[obhave]

Roommate just started doing his taxes today. Can't imagine waiting until the day before to do them.

[willeyeam]

Roommate just started doing his taxes today. Can't imagine waiting until the day before to do them.

At least he didn't dump them on some poor accountant and ask if they'd be ready tomorrow

[AuthorTony]

I'm doing my parents taxes (yes, tonight because my dad is ridiculously lazy and procrastinates about everything) and I'm using Turbo Tax. It's saying they're eligible for the Earned Income Credit, but I don't know if that's correct. My dad turned 67 last year and received social security and worked part time making around 10.5K in his pt job. My mom turned 61 last year and was unemployed. What I can find on the EIC on the IRS site says you must be between 25-65 and since my dad's the only one that earned income, does that mean they're not eligible? I know they weren't expecting any refund and are only filing because my mom bought insurance through the marketplace and filing is required. Any advice?

[Factorial]

So in 2015 my health insurance costs will no longer be tax deductible, but will now have to be calculated as income.

#yeahobamacare

not sure that has anything to do with obamacare

No, it does. The letter I received from my health provider helpfully quoted the section of the law that changes the designation.

This only effects those of us who are self-employed and are therefore "self-insured".

Basically the idea here is to force me to go through an exchange rather than using a private insurer.

You have insurance that doesn't meet the minimum requirements of the ACA so you are getting hit with the penalty? If so, is the penalty + your cost of insurance < the cost of a plan that does meet the minimum requirements of the ACA?

[Kraftster]

Ugh. Can't find our 1099-SA form anywhere. Just great.

[meow]

Looks at all those morons. I paid my taxes over a year ago

[Miami Vice]

I've done my parents taxes for over 10 years - they were lazy and drove them down to Grant street after 10pm on April 15th of every year, but I needed them done by March 1 for student financial aid stuff.

My dad died last year, so I assumed it would be a tad bit more work. It really wasn't, not until I had to deal with Obamacare.

For starters, they didn't know how to accept that he was dead. Cancelling his policy with Highmark was easy. Terminating his active account with the Democrats has been impossible. Secondly, I was unable to file online as a result of an additional form that needed to be filled out (the dreaded 8962 that nobody knows how to handle). Third, we got the wrong info: http://www.washingtonpost.com/blogs/won ... formation/

[mac5155]

Local taxes filed. Owed $8. My wife's work (which she was at for about 1/4 of last year) must not take out the EIC Tax.

[shmenguin]

Roommate just started doing his taxes today. Can't imagine waiting until the day before to do them.

takes me less than an hour to do them every year - including my wife's.

i imagine it's a pretty simple exercise for 90% of people.

[willeyeam]

see ya next January, tax season

[columbia]

Roommate just started doing his taxes today. Can't imagine waiting until the day before to do them.

takes me less than an hour to do them every year - including my wife's.

i imagine it's a pretty simple exercise for 90% of people.

I usually do mine, while I'm eating lunch at my desk at work.

[LITT]

What do accountants due from May - December

[grunthy]

What do accountants due from May - December

A lot of people file extensions.