Tax Season

[willeyeam]

What do accountants due from May - December

I audit so I'm pretty busy year-round. We like to poke fun at the tax specialists for sitting around picking their noses til next January. In reality there are a lot of fiscal year-ends, extensions, quarterly financial statements, payroll taxes, etc. to keep everyone busy, but not 70 hour per week busy as in tax season.

[relantel]

Normally we file in February every year, but when I was sitting down and entering everything in the 2nd week of February, I had some USAA income statements that weren't going to be available until 2/20. And then I got so busy at work I didn't pick it back up until this past weekend. Shame on me for lending the government my refund for an extra two months :/

[slappybrown]

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

TAXES?!?!? I thought this was the line for Metallica!

[shafnutz05]

What do accountants due from May - December

Yeah, they are literally worse than teachers.

[willeyeam]

What do accountants due from May - December

Yeah, they are literally worse than teachers.

oh my are you trying to get me banned?

[dodint]

What do accountants due from May - December

Yeah, they are literally worse than teachers.

[Miami Vice]

Has anyone ever filed PA death taxes for someone?

I need to get my dad's in soon. He had a very modest estate - just a car and some money in bank accounts. But I'm extremely nervous to file the return. I have records of everything - funeral bills, debts I paid, etc. I'm just scared of the state auditors coming after me. Its not like income tax where I have records in the form of W2s and 1099s, etc. Its kind of just scout's honor here.

[MrKennethTKangaroo]

Why not hire someone to do it(i.e. A lawyer)?

[Miami Vice]

Because there isn't very much money to begin with, and the ones that were recommended to me wanted several thousand dollars.

It's all very straight forward, given that he didn't own real estate and died without a will. The law says who gets what and what the tax percentage is.

There just isn't any real way to prove I'm telling the truth about the account balances, short of being audited.

The whole process has been kind of surreal. I thought I would have the burden to prove he had no will, but I didnt. Everything with the probate office has been super low key.

Basically I just fear the state picking our family out of a hat and trying to make our lives miserable.

[King Colby]

Just got a 1098-E and a 1099-SA in the mail today. It's on, dodints.

[columbia]

I have all of my documents and am ready to rock on that this weekend.

[King Colby]

First year of filing as married. Should be interesting to experience the impact

[willeyeam]

screw this thread

[Craig]

Dont get my stuff till the end of the month. Boo

[mac5155]

What is the logical reason that it takes so long to send W2s out for companies that use electronic payroll software? It really takes a month to send basically my YTD payroll stub with a couple more things?

[Factorial]

What is the logical reason that it takes so long to send W2s out for companies that use electronic payroll software? It really takes a month to send basically my YTD payroll stub with a couple more things?

Not all end of month/year compensation is set at on 1/1 so they need time to get that done.

[dodint]

Federal government had theirs completed and in their employees hands by Jan 7th.

Still waiting on two of my wife's W2s.

[relantel]

What is the logical reason that it takes so long to send W2s out for companies that use electronic payroll software? It really takes a month to send basically my YTD payroll stub with a couple more things?

that and the required time to send out 1098s, 1099s, etc. is at the end of the month.

In some cases, what is required to be on a 1098 changes even after the 1st of the year (mortgage interest for example -- does upfront mortgage insurance premium count or not? think this happened a year ago, where it was going away but Congress put it back late).

Because, let's face it, Congress rarely adopts a budget on time... I guess we should be happy they do at all considering the Senate once went over 5 years without an adopted budget.

[mac5155]

I got a 1099-B for the sale of .424 shares of stock. I don't even remember selling them. And now the $35 that I made doing that is probably not going to allow me to use the free Turbo Tax. WTF?

[shmenguin]

my bonus from 2014 got pushed back to February of 2015. and my bonus from 2015 came on time.

and with my bonus being about 40% of my total income, i got way screwed over on my 2015 earnings, and owe taxes for the first time in my life.

nutsacks.

[Morkle]

my bonus from 2014 got pushed back to February of 2015. and my bonus from 2015 came on time.

and with my bonus being about 40% of my total income, i got way screwed over on my 2015 earnings, and owe taxes for the first time in my life.

nutsacks.

We owe taxes every year. That's the only time I think the DINK life hurts us. We only owe like $200 or something like that.

[mac5155]

I got a 1099-B for the sale of .424 shares of stock. I don't even remember selling them. And now the $35 that I made doing that is probably not going to allow me to use the free Turbo Tax. WTF?

It looks like this sale was a maintenance fee for Compushare. I am ignoring it. If they want their $5 taxes, they can come get it.

[MrKennethTKangaroo]

mac

it sounds like you own some of your company stock, and compushare is the custodian. they probably mail you a $35 bill for the maintenace fee. if you don't pay the fee, they just liquidate a portion of your holdings to pay for it. in the future, just pay it with a check or whatever, and then you don't have to go through the rigamarole of schedule D.

[mac5155]

mac

it sounds like you own some of your company stock, and compushare is the custodian. they probably mail you a $35 bill for the maintenace fee. if you don't pay the fee, they just liquidate a portion of your holdings to pay for it. in the future, just pay it with a check or whatever, and then you don't have to go through the rigamarole of schedule D.

That's right.. I didn't receive a bill, but I suspect that there was a balance due because she left the company (guessing fee was covered as an employee).

It comes out to $11 worth of capital gains, as the stock was sold at $26 higher than purchase and was .424 of a share. I really think I am just ignoring it. What's the worst that can happen?

[MrKennethTKangaroo]

The irs sends you a bill of $11 plus penalties and interest. The P&I would be minimal.