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2018 Taxes

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MK24Cy

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May 18, 2018
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I think Iowa must wait until March to even start issuing refunds. If that's going to be your standard practice, that's fine, but maybe mention something ahead of time as I'm sure they get 1000 calls a day from people pissed off their return hasn't even been looked at. I filed Feb 2nd and have been checking the Iowa Where's My Refund site a couple times a week since then and it finally shows as being issued today. There's nothing on our return that the state shouldn't have access to on some sort of official government document(traditional W2 income, standard deduction, child, student loan interest, traditional healthcare/HSA through work), so it makes no sense to me it would take this long unless they just didn't issue refunds in February.
 
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ArgentCy

ArgentCy

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Jan 13, 2010
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isufbcurt said:
I'm over a month on my Iowa refund.

I'm seriously thinking about messaging Rob Sand and having him investigate the Iowa Department of Revenue. The IA Dept of Rev claims its because of identity theft measures but that's total BS.
Click to expand...

Only took them a day or two to cash our small check.
 
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BCClone

BCClone

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Sep 4, 2011
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Not exactly sure.
Tax people, quick 529 question. Is there a time limit that the funds have to be in the account? Seeing that you save state taxes, can I dump the 3380 or so limit for me and my wife in during the summer and remove it (leave enough to keep it open) for college in the fall? Would I get to claim it off the iowa taxes? Thinking if I can save 8% or so on it for Iowa taxes, it is still 500 bucks saved.
 
D

DeereClone

Well-Known Member
Nov 16, 2009
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isufbcurt said:
I'm over a month on my Iowa refund.

I'm seriously thinking about messaging Rob Sand and having him investigate the Iowa Department of Revenue. The IA Dept of Rev claims its because of identity theft measures but that's total BS.
Click to expand...

They are holding/using the money as operating capital and should be investigated and prosecuted for theft IMO.

I don't get a refund but I would be upset at the amount of time people are saying it takes to get the money back. I am sure they will cash my check quickly when I send it in.
 
1100011CS

1100011CS

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Oct 5, 2007
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Marshalltown
BCClone said:
Tax people, quick 529 question. Is there a time limit that the funds have to be in the account? Seeing that you save state taxes, can I dump the 3380 or so limit for me and my wife in during the summer and remove it (leave enough to keep it open) for college in the fall? Would I get to claim it off the iowa taxes? Thinking if I can save 8% or so on it for Iowa taxes, it is still 500 bucks saved.
Click to expand...
Damn, good idea. Remind me in a couple years when my kids are in college:)
 
BCClone

BCClone

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Not exactly sure.
mtowncyclone13 said:
Why not contribute now and have the (hopefully) gains be tax free, too?
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One advice they give you before you fill out FAFSA is to kill any "outside" investments you may have. I had the kids' college funds in mutual funds and a few others that were to be liquid by now but they decided to shove it up my rear and screw me on it, but I digress.

Was told to cash in my investments and loan it to my business. That takes that sum of money off the contributable area for FAFSA since it is tied up in my business. 529s will count against any funds, grants, and even some scholarships that the child might receive for education.
 
Stewo

Stewo

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Oct 29, 2008
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Iowa
Without anything changing, I got an additional $1,8xx back from federal. Just over $200 from state.
 
ElephantPie

ElephantPie

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Aug 17, 2011
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I wonder if the last couple years Iowa has waited to issue refunds until closer to March 1st when farmers' income taxes are due (in a typical year). From what I've seen, most farmers owe money when they file their taxes and those who owe money tend to wait nearer to the time the taxes are due to make their payment. Those who get refunds tend to file early for obvious reasons also. If the state would pay most of the refunds in Feb but didn't start receiving most income tax money until March and mid-April, the cash flow sheets would look less consistent.

That's my conspiracy pondering anyway.
 
capitalcityguy

capitalcityguy

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Jun 14, 2007
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farminclone said:
They are holding/using the money as operating capital and should be investigated and prosecuted for theft IMO.

I don't get a refund but I would be upset at the amount of time people are saying it takes to get the money back. I am sure they will cash my check quickly when I send it in.
Click to expand...

As taxpayers from Iowa, I would assume we'd all want the state to be efficient as possible in cashing checks. Correct??
 
capitalcityguy

capitalcityguy

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Jun 14, 2007
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farminclone said:
Yes, I was just pointing out the difference in efficiency of when the govt receives money vs sends it out.
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I know...and I agree with the sentiment.

It is just so easy to rag on the gov't for inefficiencies and what those in efficiencies ultimately cost us a taxpayers.

But as taxpayers, my point was that we are all better off if they cash our collective checks sooner and conversely return refunds at a little less aggressive pace. We do have some power to control the latter ( e.g...adjust our withholding so we don't need a refund) but we have little control over the state of Iowa efficiently processing our tax payment checks. Because of that, I want to hear they are doing it timely.
 
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