IRS senior deduction $1850

[Rustyt1953]

When I met Ruthie she was working in the city treasury office. I haven't filled out a tax return in 44 years. Up here we call that a "perk".

 

[TX-Dennis]

I have a degree in accounting, but I use tax software because it's so much faster. I used Tax Act for several years because it was less expensive than Turbo Tax and quite good. A few years ago they jacked up their price making it more expensive than Turbo Tax which is also quite good. As a result I've been using Turbo Tax ever since.

I had to pay a substantial amount this year due to inherited deferred annuities. Yes, there are ways to delay some of that tax burden, but they're going to get it eventually either way, so I decided to take the hit all at once. I e-filed in February, and the payment will be deducted from my checking account on April 15. Never (yet) had the IRS correct one of my filings, and I do several a year for close family.

Still a couple years before I can take that extra senior deduction, but I'm definitely closing in on it.

 

[cmj8591]

Not so much a tax comment, but I stopped putting paper checks in the mail a long time ago. If you think you can be ripped of electronically, look at what is happening with old fashion paper in the mail. Think about it. You put that tax payment in the mail box with a piece of paper that has your personal info and your signature along with your account number and routing number. And if that's not enough, they can wash your check and make it out to whomever they want for as much as they want. The US Mail is too much of a leap of faith these days.

 

[HOUSTON RICK]

Not so much a tax comment, but I stopped putting paper checks in the mail a long time ago. If you think you can be ripped of electronically, look at what is happening with old fashion paper in the mail. Think about it. You put that tax payment in the mail box with a piece of paper that has your personal info and your signature along with your account number and routing number. And if that's not enough, they can wash your check and make it out to whomever they want for as much as they want. The US Mail is too much of a leap of faith these days.

I can untangle a paper scam within a week, An electronic scam will have the IRS on your butt and you wondering why until merciful death and beyond.

 

[cmj8591]

I can untangle a paper scam within a week, An electronic scam will have the IRS on your butt and you wondering why until merciful death and beyond.

The difference is that you can avoid the electronic scam with just a little due diligence and some common sense. IE, don't give the Pakistani IRS agent who tells you the cops are on the way to your house to arrest you your credit card number. Once that paper check leaves your hands, you no longer have any type of control over it. Where I am, there have actually been several mail carriers who have been assaulted and robbed of their arrow key. It has become so big of a problem that the Postmaster has gone on TV and told people to only bring their mail to an actual post office and not to put it in a blue mail box.

 

[Doug M.]

We started using an accountant a few years ago when our tax situation was more complex. We kept doing it because it is worth $265 or so to avoid the risk of error and the other stressors of doing them ourselves. We assemble the stuff for the accountant and turn it over, and drive on.

 

[Muddyboot]

Had to send the thieving *******s 4500 this year...but as my Uncle used to say if I wasn't making it I wouldn't be paying it.....just gotta get some tax shelters for next year!

They got me for 3500.00, I'm not feeling like I got my money's worth.

 

[glenwolde]

I was a little surprised to see Turbo Tax filled out a 1040SR for me. I was unaware of it. But that's why I use Turbo Tax!

We get a $6 refund. Hah! Take that! But I cheated a little. I "tuned" our IRA contributions and tried to zero it out. The "problem" was once I did that they gave me a $400 "retirement savings credit" so I had to recalculate with the credit. Go figure.

 

[Golddollar]

We started using an accountant a few years ago when our tax situation was more complex. We kept doing it because it is worth $265 or so to avoid the risk of error and the other stressors of doing them ourselves. We assemble the stuff for the accountant and turn it over, and drive on.

I started using an accountant last year for a lot of the same reasons, plus being able to have my taxes filed electronically. I had a paper return filed for one year that took two years, including intervention by my Congressman, to get my refund.

 

[fiasconva]

I got caught up in that refund debacle myself, Golddollar. Two years ago I had a refund coming but last year I had to pay. My payment check was cashed months before I got my refund from the year before.