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Official tax refund thread vol. for the 2015 tax year
- Thread in 'General' Thread starter Started by nawghtyhare,
- Start date
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tell me about it! Shes so oblivious when it comes to stuff like this. But I feel bad because it's her first "real" job in the career she chose and it was her first time setting up everything herself as far as her 401k, insurance, w-4, etc.
It just sucks if it was really a mistake by her employer because I honestly remember putting either 0 or 1 for the allowances. Definitely not 45! Like I said, I know its ultimately her fault for not seeing it from the get go but if theirs anything she can do let me know guys!
thanks
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damn 1st job. hope she's under 20 y/o
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Look into if it would stop a little bit of the bleeding to put into a (traditional) IRA. If you're filing jointly, you guys can both put in
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1st job for what she went to school for
she has the money to pay for it but I was seeing if there was anything she can do. If it was the employers fault, shouldn't they be responsible for any fees/interest that the IRS gives?
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Im no expert, but i cant see an org like the irs giving in on something like this. definitely something worth looking in to.
Where is anthem az? never heard of it.
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I highly doubt she can get around paying that.
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Just have her pay the IRS what they're owed. I doubt the company she works for will help with the liability. The W4 withholdings is the employee's responsibility. Good luck man.
I just had my CPA do my taxes a few weeks ago. I'm surprisingly getting some money back. I guess those quarterly estimated payments I've been making for sneaker taxes weren't needed.
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True. Anthem is just north of Phoenix. I haven't updated my location but I live in Phoenix now.
Yeah she's not too upset about it but was just surprised. She has the money saved up anyways. She knows that the money she has to pay would have been taken out from her checks. Its just weird how the allowances was set to 45. I would think the IRS would have found a discrepancy with such a high number. I read that before, if the IRS saw that you put 10 or more that it would send a notification to the employer to set it at either 0 or 1 if the person was single.
Just have her pay the IRS what they're owed. I doubt the company she works for will help with the liability. The W4 withholdings is the employee's responsibility. Good luck man.
I just had my CPA do my taxes a few weeks ago. I'm surprisingly getting some money back. I guess those quarterly estimated payments I've been making for sneaker taxes weren't needed.
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True. Anthem is just north of Phoenix. I haven't updated my location but I live in Phoenix now.
[thread="640915"] [/thread]
Yeah she's not too upset about it but was just surprised. She has the money saved up anyways. She knows that the money she has to pay would have been taken out from her checks. Its just weird how the allowances was set to 45. I would think the IRS would have found a discrepancy with such a high number. I read that before, if the IRS saw that you put 10 or more that it would send a notification to the employer to set it at either 0 or 1 if the person was single.
Just have her pay the IRS what they're owed. I doubt the company she works for will help with the liability. The W4 withholdings is the employee's responsibility. Good luck man.
I just had my CPA do my taxes a few weeks ago. I'm surprisingly getting some money back. I guess those quarterly estimated payments I've been making for sneaker taxes weren't needed.
The IRS doesn't care how many allowances you put as long as you pay your taxes owed at the end of the year. Problem is she has to pay fines but the responsibility to make sure everything is paid in a timely manner is the responsibility of the tax payer not the employer. She should have been more responsible and should have paid closer attention to her pay stubs.
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Unless you're making upwards of a $250,000/year, anything over 8 allowances, will yield literally zero dollars getting withheld. She should have had about $500 taken out every two weeks. Making 50k+, and having zero fed tax taken out is a HUGE blunder. She was getting paid tax free for 12 months.. Ouch.
But some people do like paying it all later (no free Government loans), so you get more on every check, but you have to realize there is some tax liability associated with her wage/income.
I have some family who owe, but its because no taxes get taken out of their social security checks. They should have been putting $300 aside every month knowing that there would be some income liability associated with the sum amount for the year.
wage tax table helped me out https://www.irs.gov/pub/irs-pdf/p15.pdf
This one you can set your pay check amount, the frequency, and itll show how much liability to expect for taxes, https://www.irs.gov/Individuals/IRS-Withholding-Calculator
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You didn't even factor in home owners tax breaks. My allowance is at 5 and I don't make 6 figures or anywhere near 250K 
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^ At 8 allowances, you get almost nothing withheld if you are the vast majority of Americans (median household income being what it is). 5 is vastly different than that. A difference of about $1200 in withholdings for a married family taking home $900 weekly. Were you happy with your return? You could have upped allowances to 8 and saw about $23 more per paycheck (using family example above).
I'm just saying, I have seen many people get recommended to add an allowance for a head of household, spouse, each kids, child income credit, where some familes end up having 8 allowances.. How the poster aboves GF got to 45 is crazy. But people just have to be careful. At 8 allowances, and nothing being withheld, you better hope those tax credits/breaks come your way. I think people mostly side with caution and have lower allowances than they should. No one likes thinking things out.
More to my $250,000 comment. Unless you are making that much, there is really not a big difference between 8 allowances and 45. There is quite a drop off near zero once you get to 10. 8 is kind of on the edge and people need to be careful.
I'm just saying, I have seen many people get recommended to add an allowance for a head of household, spouse, each kids, child income credit, where some familes end up having 8 allowances.. How the poster aboves GF got to 45 is crazy. But people just have to be careful. At 8 allowances, and nothing being withheld, you better hope those tax credits/breaks come your way. I think people mostly side with caution and have lower allowances than they should. No one likes thinking things out.
More to my $250,000 comment. Unless you are making that much, there is really not a big difference between 8 allowances and 45. There is quite a drop off near zero once you get to 10. 8 is kind of on the edge and people need to be careful.
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I'm not a family. I'm a single person.
If I upped it to 8 it would probably be about $200 less withheld. I'd still would be withholding money for the govt it wouldn't be 0. My salary is above the median household income.
1 head, withholding 5.
If I upped it to 8 it would probably be about $200 less withheld. I'd still would be withholding money for the govt it wouldn't be 0. My salary is above the median household income.
1 head, withholding 5.
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Damn I need to find out the status of my refund but don't have all of the necessary info to find check on where's my refund
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I want to deck my new accountant in the face
He asking me why I have an exemption of 1 instead of 0. I I'm single and independent. Why would I let the government hold my money for no apparent reason. I don't give a crap about the high return at the end of the year. Dude literally told me to give a new w4 to my employer otherwise he won't feel comfortable doing my taxes.
He asking me why I have an exemption of 1 instead of 0. I I'm single and independent. Why would I let the government hold my money for no apparent reason. I don't give a crap about the high return at the end of the year. Dude literally told me to give a new w4 to my employer otherwise he won't feel comfortable doing my taxes.
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Get you a new accountant playa lol
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Thats what Im saying bros.... I was literally not trying to deck dude on some stupid ****
6 Rings G.O.A.T.
Supporter
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It's been 14 days since my taxes got accepted.. No money yet.. Uncle Sam is scheming.. 
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A lot of people or friends or places want a percentage of one's return. That's why. So many hole in the wall places open up for 3 months simply using turbo tax and charging $50 to start. Nice come up if you find people scared to do their own taxes. Feels like a good 80% of our population using the free ez form. Couldn't imagine going to someone to tell you that you owe $4 grand, plus fees.
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Lol got an "accountant" most likely for no reason especially since he's feeding you bs like that. That's a hustler
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Hey guys. NYC Accountant here for quite a few years now. Would love to get more business so next year, 50% off for all new clients. PM me for more info.
comptonprince
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