Lame tax refund

Nunzio's picture

Did anyone do there taxes yet? I did a rough draft or ours and we're getting a refund that's about one-fifth of what I was expecting. We made a little more money than the year prior, but nothing significant.

Anyone else finding themselves in a similar situation?

kdubs215's picture

I would do it again Nunzio

I would do it again Nunzio .... Im getting more and no real changes in my income .

rtsaidred's picture

One-fifth? Wow, that's big.

One-fifth? Wow, that's big. Haven't done mine yet. Probably will next week.

OOOH-- character named Nunzio just made someone jump to his death on Life on Mars. Ouch.

qbert4578's picture

I did mine... got about $500

I did mine... got about $500 less than I did last year, but I know why. Expecting my refund on Friday!!!!

dan's picture

Good news - expecting big

Good news - expecting big refund.
Bad news - it's because I lost a lot of money!

Welcome to 2009.

Shovelled_Up_Dead_Corpses_Rotting_You's picture

can't believe some of you

can't believe some of you are doing your taxes already! I still haven't even received W-2's from 2 of the jobs I held this year, including my full-time job!

jmminarik's picture

Shovelled_Up_Dead_Corpses_Rot

Shovelled_Up_Dead_Corpses_Rotting_You wrote:

can't believe some of you are doing your taxes already! I still haven't even received W-2's from 2 of the jobs I held this year, including my full-time job!

W-2's aren't legally required until 1/31 I believe. Some documents, such as S-Corporation statements, not until the end of February.

codergrrl's picture

I'm getting more than last

I'm getting more than last year, but collected some dependents, so I understand it...
This is what I don't understand...
Went on the IRS website, and it said my refund was deposited on Jan. 23, and if I don't see it in my account get back to them, (however, there is no number for real people on the website)...so I contacted the bank, (Citizens) who told me that "Yeah they have the money, but the government told us not to release any of the deposits until Friday, the 30th."
This made me incredibly nervous, because shortly after that I read about how California was delaying any tax refunds, because the state itself needs the money...I know there's a difference between feds and state, but still, until its in my hot little hand, I'm gonna be nervous.

Larry99's picture

I did ours on Monday and the

I did ours on Monday and the refund will be comparable to last year.

If there were no significant changes to your income or deductions, you probably made a mistake somewhere.

Does anyone use TurboTax? I think it's great. Did BOTH my fed and state in under an hour!

karen's picture

You could have entered

You could have entered everything correctly, but your forms may have been incorrect. i've had that happen before, so check that.

nhb's picture

Larry99 wrote:I did ours on

Larry99 wrote:

I did ours on Monday and the refund will be comparable to last year.

If there were no significant changes to your income or deductions, you probably made a mistake somewhere.

Does anyone use TurboTax? I think it's great. Did BOTH my fed and state in under an hour!

Yes i use turbo tax also & i love it. My refund is about the same also.

Nunzio's picture

codergrrl wrote: This is

codergrrl wrote:

This is what I don't understand...
Went on the IRS website, and it said my refund was deposited on Jan. 23, and if I don't see it in my account get back to them, (however, there is no number for real people on the website)...so I contacted the bank, (Citizens) who told me that "Yeah they have the money, but the government told us not to release any of the deposits until Friday, the 30th."
This made me incredibly nervous, because shortly after that I read about how California was delaying any tax refunds, because the state itself needs the money...I know there's a difference between feds and state, but still, until its in my hot little hand, I'm gonna be nervous.

Here's an interesting little fact related to coder's experience...

The U.S. Government has NEVER bounced a check in its entire history. I think very few of us can say that and I'm sure none of us have been writing checks for as long as the U.S. Government. But, then again, I don't think any of us can write a check and then call our bank and tell them they can release the funds. Can you imagine this...

"Hello, Wachovia? My name is Nunzio. I just wrote a check to PECO. When they deposit it, don't release the funds until I tell you it's OK. I don't want the check to bounce."

On another note, I'm happy that others have not had an experience similar to mine. It makes me think I made a mistake somewhere.

lavondasmom75's picture

I am getting a spectacular

I am getting a spectacular refund. I let Friendly Tax Service do my texes every year. I love them and they get back as much as they can for us.

brooke's picture

I can tell none of you are

I can tell none of you are self-employed. I plan on doing mine next week--this gives me 3 months to figure out how I'm going to pay them.

tudor's picture

Haven't done mine yet. But

Haven't done mine yet. But double check for new deductions and credits. I almost missed one for a new heater last year. Every little bit helps.

Ftown66's picture

I haven't did mine yet but i

I haven't did mine yet but i hope i get back more then i did last year. I'm hoping for $13.00 instead of the $12.00 I got last year. If i don't owe i'm happy. I prefer not to lend my money to the goverment without them paying me interest.

teener's picture

I'm with you Ftown- that is

I'm with you Ftown- that is a reasonable and responsible way of doing it!

Ftown66 wrote:

I prefer not to lend my money to the goverment without them paying me interest.

Check it out- Pops Playground has a website @ http://www.popsplayground.org

MichelleLynn's picture

surprise of all surprises, I

surprise of all surprises, I am getting a state refund this year!

jmminarik's picture

MichelleLynn wrote:surprise

MichelleLynn wrote:

surprise of all surprises, I am getting a state refund this year!

Wow. Not many deductions under the much saner flat PA income tax code. I usually owe a few bucks every year.

Trixie's picture

I finished mine through

I finished mine through Turbo Tax and I have the same thing. I used to get a lot back every year and I could use it to pay bills and stuff. This year I'm not getting enough to count on for anything. I got a raise last year, but we're talking about a lousy 2% COLA raise. I don't understand it.

ken215's picture

Between Federal and Delaware

Between Federal and Delaware (I work there), I am getting back a little more this year than usual, but I owe Pennsylvania $32.00.

Nunzio's picture

I redid them and now we're

I redid them and now we're back to about half of what we got last year. One thing I missed was the mortgage interest deduction. I had it in there, but I didn't specify how much of it was deductible. (I'm using taxactonline.com). However, there appear to be a few things that are leading to a reduction in our refund. One, our income has increased to the point that the child tax credit is phasing out. Two, our oldest daughter is now at an age in which childcare is not deductible. Three, on last year's return, the online tax program appears to have taken the standard deduction and the itemized decution. On this year's return, the program says you can do either/or, but not both. I don't know what the rule was last year. Does anyone else know?