wildgoldenhoney said:

you can start it now online and just save it until closer to April 15, at least you will know what you owe. And there are some changes that could mean a refund. One is you can not take part of property tax off on the 1040 and one is a new credit called "The Making Work Pay" credit. Both of them gave me money back that I would not have gotten last year.

Do most countries do this, as I know UK doesn't need to?

thesexofit said:

you do not file income taxes? at all? how are taxes calculated?

OnlyNDaUsa said:

I will have to check that out.

OnlyNDaUsa said:

They get deducted automatically each month on my payslip. If you are self enployed, then you gotta work it out yourself. National insurance, income tax etc... The government does it all for us LOL. Iam sure its not that simple LOL, but thats the gist of it I think?

no w2s yet.

thesexofit said:

ours too. But in the new year we file to see if we owe more or get some (some get more than was taken out from our pay) back. In the the US there are several different credits and deductions and stuff like that that can help reduce what your total tax is. We can reduce the amount that is used to calulate taxs with kids, being married, work expenses, gifts to charity, other taxes, and interest paid on a home mortgage.

We also have to report interest earned form some bank accounts or winnings from gambling or contests and other forms of income.

it is thankfully complicated so if you know what you are doing you can end up paying less.
[Edited 1/18/10 18:14pm]

OnlyNDaUsa said:

LOL. I know about tax credits and the certain pay brackets for tax etc..., but I have no kids, no benefits, and not even unions to sort out, so I guess my taxes are pretty simple compared to say people with kids or people on income benefits.

Silly question, but why tell them about your gambling winnings? Do they ask for a receipt LOL? I never get rebates.

thesexofit said:

if it is over a certain amount they report the winnings. (at legitimate places)

also winnings from contests or quiz shows.

I found out I can’t e-file and get my first-time home buyer’s credit. Which means I have to mail everything in and they estimate 3 months to receive your refund.

Genesia said:

U don't mess around.

Just waiting for some tax-exempt forms for my UK bank accounts so that I can get my interest net.

CarrieMpls said:

you could e file and leave off the credit then in May file an amended return (1040X) and get a 2nd refund.

I'm done.

Ive only got 1 W2 back so far.

Vendetta1 said:

Hopefully, you're getting a refund back, and not having to pay Uncle Sam anything.

psychodelicide said:

It's better than it was last year.

Vendetta1 said:

I'm glad, you deserve it.

Still waiting for one more W-2. I also haven't received my tax booklet for my state taxes, which is odd.

psychodelicide said:

Thanks Nancy.

Vendetta1 said:

You're welcome.

Got mine a few days ago. Like last year, I'm sure they'll hold some back due to student loans. My taxes are pretty straight forward since I have no dependents. This time, my tax return will go straight into savings. I have to continue saving in case we all get laid off at work.

Just did mine and was disappointed. Different filing status plus increased income apparently equals less money on the return. Was kind of needing the usual ~$2,000

I got my W2 last week, but we're still waiting for my wife's!