Road Runner Posted March 18, 2021 Share #1 Posted March 18, 2021 You now have until May 17. 1 2 Link to comment Share on other sites More sharing options...
Razors Edge ★ Posted March 18, 2021 Share #2 Posted March 18, 2021 1 minute ago, Road Runner said: You now have until May 17. Of what year? DON'T RUSH ME! 1 Link to comment Share on other sites More sharing options...
Kzoo Posted March 18, 2021 Share #3 Posted March 18, 2021 I'm waiting until at least tomorrow to start rejoicing... maybe the next day. 1 2 Link to comment Share on other sites More sharing options...
Road Runner Posted March 18, 2021 Author Share #4 Posted March 18, 2021 Actually, this kind of pisses me off. I got my taxes in about two weeks ago, but as it turns out, I could have waited and worried about getting them in for at least another month. 2 Link to comment Share on other sites More sharing options...
ChrisL Posted March 18, 2021 Share #5 Posted March 18, 2021 Yeah my wife is happy. Apparently the tax software companies didn’t keep up with all of the tax laws so we may not have to pay as much now. 1 Link to comment Share on other sites More sharing options...
Ralphie ★ Posted March 18, 2021 Share #6 Posted March 18, 2021 4 hours ago, Road Runner said: Actually, this kind of pisses me off. I got my taxes in about two weeks ago, but as it turns out, I could have waited and worried about getting them in for at least another month. It is quite a balancing act - the sweet joy of procrastination versus the satisfaction of getting something done. 1 Link to comment Share on other sites More sharing options...
Further Posted March 18, 2021 Share #7 Posted March 18, 2021 I especially like when I put something off for a week or so and the need for it disappears, had I done it, it would have meant nothing. Some how I don't think the 'need' to do taxes will disappear... Link to comment Share on other sites More sharing options...
maddmaxx ★ Posted March 18, 2021 Share #8 Posted March 18, 2021 I had my taxes in well over a month ago only to find that the IRS is too busy to send out refunds at this time. Link to comment Share on other sites More sharing options...
Zealot Posted March 19, 2021 Share #9 Posted March 19, 2021 6 hours ago, Road Runner said: Procrastinators Rejoice! Later... Link to comment Share on other sites More sharing options...
Prophet Zacharia Posted March 19, 2021 Share #10 Posted March 19, 2021 14 hours ago, Road Runner said: You now have until May 17. I’ll assume that means I have an extra month to submit my payment as well? From one year to the next I went from having a large refund to needing to make a large tax payment, all without a new tax law taking effect or any changes to my withholdings. Link to comment Share on other sites More sharing options...
Parr8hed Posted March 19, 2021 Share #11 Posted March 19, 2021 We just filed. We must have done something wrong because we are getting a return this year. The wife got a couple of big bonuses. I was afeared that they would put us over the edge and we would have to pay taxes, but they taxed the living shit out of those bonuses. I guess that saved us. 1 Link to comment Share on other sites More sharing options...
groupw Posted March 19, 2021 Share #12 Posted March 19, 2021 3 hours ago, Prophet Zacharia said: I’ll assume that means I have an extra month to submit my payment as well? From one year to the next I went from having a large refund to needing to make a large tax payment, all without a new tax law taking effect or any changes to my withholdings. Things like this are why I max my withholding. Happened to me several years ago. Had no idea it was going to happen and it put us in quite a fI any bind for a while. Link to comment Share on other sites More sharing options...
Kirby Posted March 19, 2021 Share #13 Posted March 19, 2021 3 hours ago, Prophet Zacharia said: I’ll assume that means I have an extra month to submit my payment as well? From one year to the next I went from having a large refund to needing to make a large tax payment, all without a new tax law taking effect or any changes to my withholdings. https://www.irs.gov/newsroom/tax-day-for-individuals-extended-to-may-17-treasury-irs-extend-filing-and-payment-deadline Quote Individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May 17, 2021, without penalties and interest, regardless of the amount owed. This postponement applies to individual taxpayers, including individuals who pay self-employment tax. Penalties, interest and additions to tax will begin to accrue on any remaining unpaid balances as of May 17, 2021. Individual taxpayers will automatically avoid interest and penalties on the taxes paid by May 17. Fro the IRS website, although formal guidance is still to be issued. This differs from filing for an individual extension. 1 Link to comment Share on other sites More sharing options...
Kirby Posted March 19, 2021 Share #14 Posted March 19, 2021 This Fox Business News article discusses some taxes that don't get an extension including estimated tax payments that are owed by 4/15 Quote That's because the automatic extension applies to individual returns and payments for 2020 that were initially due on April 15, the IRS said Wednesday. It does not apply to 2021 estimated-tax payments, which are used to pay levies in quarterly installments on income that is not subject to withholding, such as earnings from self-employment, alimony, dividends and capital gains. Link to comment Share on other sites More sharing options...
ChrisL Posted March 19, 2021 Share #15 Posted March 19, 2021 15 hours ago, Further said: I especially like when I put something off for a week or so and the need for it disappears, had I done it, it would have meant nothing. My old boss, the retired Marine Colonel had a term for that. “OBE” Overcome By Events. Link to comment Share on other sites More sharing options...
Razors Edge ★ Posted March 19, 2021 Share #16 Posted March 19, 2021 3 hours ago, Parr8hed said: The wife got a couple of big bonuses. I was afeared that they would put us over the edge and we would have to pay taxes, but they taxed the living shit out of those bonuses. Our HR person always sends out an e-mail prior to any bonuses asking if we want to change our withholdings for that period. I usually just let whatever they choose be what happens, so taxes withheld are likely higher and an extra 401k contribution is made, but I'm never good at choosing a better option. It does "save" the day from a avoiding a bigger tax payment in April, but that "theoretically" should be my goal. However, I don't mind owing a couple grand, but when it gets to be many grand, that is no fun. 5 hours ago, Prophet Zacharia said: From one year to the next I went from having a large refund to needing to make a large tax payment, all without a new tax law taking effect or any changes to my withholdings. Non-income related deduction differences - charitable donations, other deductions, or less into 401k? 1 Link to comment Share on other sites More sharing options...
Parr8hed Posted March 19, 2021 Share #17 Posted March 19, 2021 3 minutes ago, Razors Edge said: Our HR person always sends out an e-mail prior to any bonuses asking if we want to change our withholdings for that period. I usually just let whatever they choose be what happens, so taxes withheld are likely higher and an extra 401k contribution is made, but I'm never good at choosing a better option. It does "save" the day from a avoiding a bigger tax payment in April, but that "theoretically" should be my goal. However, I don't mind owing a couple grand, but when it gets to be many grand, that is no fun. Non-income related deduction differences - charitable donations, other deductions, or less into 401k? Yea, we typically run pretty close. Rarely pay, mostly getting about a grand or refund. Link to comment Share on other sites More sharing options...
Prophet Zacharia Posted March 19, 2021 Share #18 Posted March 19, 2021 1 hour ago, Razors Edge said: Non-income related deduction differences - charitable donations, other deductions, or less into 401k? No, 401/403/457 accounts maxed out. Greater earnings than anticipated. Link to comment Share on other sites More sharing options...
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