Tax time again. Deadline is not April 15, and other changes you should know...

[Johnny_Ray_Wilson]

http://finance.yahoo.com/news/what-...-2011-tax-filing-and-what’s-new-for-2012.html

W2s, 1099s,1099-Bs,1098s,K-1s.....

....... This year April 15 is a Sunday and Monday, April 16 is a federal holiday so the due date falls on Tuesday, April 17. If you are unable to file by the deadline, you may obtain an extension to Oct. 15. Bear in mind that the extension is for filing, not paying. All taxes must be paid by April 17 otherwise you may suffer penalties and interest......

......Business mileage rates for 2011 were changed mid-year, so when calculating your mileage for 2011 use the rate of 51 cents per mile for miles driven up to June 30, 2011 and 55 ½ cents per mile from July 1 to Dec. 31........

The self-employment health insurance deduction no longer offsets the self-employment tax...........

The first-time home buyer’s credit is now only available to members of the military or Foreign Service........

Also gone for 2011 is the Making Work Pay Credit.....
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[Johnny_Ray_Wilson]

This link has a few tidbits that could be useful to some of us:
http://finance.yahoo.com/news/irs-contacts-1-8-millionaires-203931288.html

Again, I am not filing electronically - Much to the dismay and laughter of the independant doing my taxes again this year. (They get a little extra chunk of change for that type service and it is quicker). The old paperwork, sort-through-the-files-one-by-one is more reliable and accurate for me.

As someone who dealed with an IRS tax audit night mare a few years ago, I start with this dreaded time of year far sooner than most folks. If there are any problems or questions on delays and penalties, then let the IRS take the heat.

 

[JohnnySavage]

I pay quarterly

 

[MonaLittle]

April 17th you say?
Makes no diff!!. They will still wait until the last minute.

Me? nope! Im punctual and tidy to boot!

 

[Johnny_Ray_Wilson]

I pay quarterly

How does that work for you? Last year, I narrowly avoided paying and actually got a return. This time, it will be a whole different ball game for me.

A few days ago, I was sorting through all of my records. I have never saved or filed so much shit my entire life for one year.

I have made so many changes (moving, transfering accounts, no bank - only Credit Union now, cd withdrawals, and one partnership). Each change carefully orchestrated and planned to be done in one fell swoop accordingly. None of this after-thought and addendum shit for me.

 

[richard_daily]

Who waits until April 15th to file their taxes?

 

[Cheyenne]

Who waits until April 15th to file their taxes?

People who owe the government money.

 

[Frizzle_Fry]

Thank god I don't pay any income taxes....

 

[JohnnySavage]

Thank god I don't pay any income taxes....

Keep in mind that prison is full of guys who flaunt their "the man will never catch MEeeee" attitude, just like you do.


Which actually makes me giggle.

 

[trysail]

I pay quarterly

Ayuh...,


and I like paper. The goddamned electrons are mighty difficult to track if something goes wrong. In a lot of ways, the frickin' digital cowboys have done an enormous disservice. People are so amazingly gullible about gee-wizardry. It ain't all beer and skittles.

 

[Honey123]

I do the electronic one.

Now I need to gather up all my crap.

Anything new with refinancing or how much income for a child (under 18) to submit their own income tax?

 

[Frizzle_Fry]

Keep in mind that prison is full of guys who flaunt their "the man will never catch MEeeee" attitude, just like you do.


Which actually makes me giggle.

Well considering the gov pays me a pretty decent non taxable income they never bug me. As long as I don't get all stupid and go buying houses, cars or other big ticket items cash money it will never be an issue. Greedy get's you busted....I'm not greedy.

 

[KingOrfeo]

April 17th you say?
Makes no diff!!. They will still wait until the last minute.

Me? nope! Im punctual and tidy to boot!

I hate your kind.

 

[KingOrfeo]

If 9% appears too small
Be thankful I don't take it all
'Cos I'm the Taxman, baby
I'm that Taxmaaaaan . . .

 

[ChinaBandit]

If 9% appears too small
Be thankful I don't take it all
'Cos I'm the Taxman, baby
I'm that Taxmaaaaan . . .

"Let me tell you how it will be
There's one for you and nineteen for me"

BTW: The lyric is "Should 5% appear too small..."

 

[trysail]

TAXMAN ( by George Harrison )

Let me tell you how it will be
There's one for you, nineteen for me
Cos I'm the taxman, yeah, I'm the taxman

Should five per cent appear too small
Be thankful I don't take it all
Cos I'm the taxman, yeah I'm the taxman

If you drive a car, I'll tax the street
If you try to sit, I'll tax your seat
If you get too cold I'll tax the heat
If you take a walk, I'll tax your feet

Taxman!
Cos I'm the taxman, yeah I'm the taxman

Don't ask me what I want it for (Aahh Mr. Wilson)
If you don't want to pay some more (Aahh Mr. Heath)
Cos I'm the taxman, yeah, I'm the taxman

Now my advice for those who die
Declare the pennies on your eyes
Cos I'm the taxman, yeah, I'm the taxman

And you're working for no one but me
Taxman!

 

[Shagly]

I do the electronic one.

Now I need to gather up all my crap.

Anything new with refinancing or how much income for a child (under 18) to submit their own income tax?

I am trying to figure a way of using my cats as a write off.

 

[JohnnySavage]

I am trying to figure a way of using my cats as a wipe off.

Not surprising.

 

[Honey123]

I am trying to figure a way of using my cats as a write off.

If you have Pet insurance, sure...

 

[ChinaBandit]

Who waits until April 15th to file their taxes?

I have until June 15th, but I pay the PRC government every month so all Uncle Sam gets is a tax credit with my return.

 

[Johnny_Ray_Wilson]

Everyone got their W2's yet? Your employer has until January 31st, midnight to give you one.

 

[KRCummings]

I always try to write off all kinds of shit I really can't write off. My accountant always catches me though. She's a bitch. I figured I found me a scam where I write off all my groceries because I eat them with my husband who is also my business partner so all breakfasts, lunches and dinners are a business expense.
She said I'd go to prison. I need a new accountant.