If you used the simplified method for the home office deduction then it drastically reduced the audit changes.
2018 Taxes
- Thread starter Cyclone06
- Start date
If you used the simplified method for the home office deduction then it drastically reduced the audit changes.
It's been almost 2 months. The website says phone operators don't know more than the website, but the website gives zero information. Who do we talk to about anticipated refund date?
I have been checking that site all week...says mine was accepted Feb 28 but was being "processed" until yesterday. Yesterday the site said my refund was issued but it could take 14 days for it to arrive! Electronically? 14 days? I know they say that so people don't get mad when the money doesn't show up immediately but 14 days? I did check my bank account this morning and it isn't there yet!
Found out all amended returns are put in line behind non-amended returns. So, if you submit April 1 at noon and Amend on April 1 at 4 PM due to an overlooked error you will be placed at the back of the line (and kept back there) and it can take up to six months for a refund.
You have to call and explain the reason for the amended return in order to be put back in line and move forward like a non-amended return. If you don't call you'll keep getting pushed back (this information is not explained anywhere)
You have to call and explain the reason for the amended return in order to be put back in line and move forward like a non-amended return. If you don't call you'll keep getting pushed back (this information is not explained anywhere)
I figured it was common sense that Amended returns come after originals. Which is way I tell my clients we will wait until after tax season to do Amended returns if necessary.
I wasn't trying to be a ass with the above btw.
This is getting a little ridiculous by the state. It's bad enough they are top 10 most taxed State but you could at least process returns in a timely manner. Anyone changing their withholding yet to not end up in this situation next year?
Nope I prefer getting refunds.
If you file April 1 at noon and then amend at 4 PM wouldn't common sense tell you you're behind everyone who filed before April 1 at 4 PM? Why would any return filed on April 1 be behind returns submitted April 15th?
I came out better than expected. I'd heard they were no longer going to allow deductions for work-related expenses, but apparently that wasn't the case. I bought a lot of photography support gear (I've got what amounts to a utility belt, with separate pouches for extra lenses, batteries, remotes, etc.), outerwear, and Hawkeye apparel (had to have Iowa gear when I was shooting for the athletic department, but the budget was too small to furnish that for me). I wound up getting about $875 from the feds, and I owe Iowa like $120. I fully anticipated owing both the feds and the state.
Seems like I always get an Iowa refund. My state exemption is already at 5. Should I put it even higher?
If you're curious ...
My effective tax rate, (federal, went down almost in half. (I mean tax owed divided into adjusted gross income). Our income changed by less than $1,000.
2018 = 2.13% - child tax credit doubling from 1K to 2 K e. was most of this.
2017 = 4.00%
So year, for us -- typical middle-class family with two kids -- the tax changes were a net positive.
My effective tax rate, (federal, went down almost in half. (I mean tax owed divided into adjusted gross income). Our income changed by less than $1,000.
2018 = 2.13% - child tax credit doubling from 1K to 2 K e. was most of this.
2017 = 4.00%
So year, for us -- typical middle-class family with two kids -- the tax changes were a net positive.
We are middle class with 3 kids and I wish I had those effective rates. FICA alone hit me there and I have a lot of passive income to avoid that as much as possible.
We already paid almost double the income tax to Iowa than we did Federal. Now, we paid very little to the Feds thanks to the child tax credits but that is not a good look. Add in property taxes, sales tax, and high gas taxes and Iowa doesn't look very good.
This is what I've tried to point out all along. This was good for the average family.
