Tax updates

[olroadbeech]

Remember when Romney said that 47 percent of people don't pay taxes with most actually taking in more money than they paid in? From what I read in the paper that number is going to be closer to 60 percent this year. The tax system has become a welfare system. Think about a standard deduction with child tax credits and then the biggest joke of all EIC.

the tax system helped us out quite a bit. we maxed out the 401k every year and since my spouse does not work we could max out IRA's as well. we also have an adult dependent for another exemption.

the tax system will never be perfect. fair to some , unfair to others . a little bit of homework can pay you big dividends in saving money on taxes.

 

[LongTimeComing]

With claiming 7 will you have to owe any money?

I'll have to figure it out where I only get a small refund...

Again: https://turbotax.intuit.com/tax-too...heck-and-Still-Get-a-Tax-Refund/INF12107.html

That should help you figure it all out...at least with setting up your W4's....

 

[saintrick]

I never understood that. Why would someone be completely exempt from federal withholding? Doesn't that mean you don't pay taxes? Where is that allowed? Sign me up

With the EIC, child tax credit, and additional child tax credit a family of four can make aorund $50,000 before the have any federal tax liability.

 

[Overpaid Union Thug]

With claiming 7 will you have to owe any money?

Last year got $65 back.

I'll have to figure it out where I only get a small refund...

Google the W4 withholding calculator.

 

[Kae3106]

Not everyone who claims to be exempt on their w4 is actually exempt...they just don't want taxes withheld. At that point it's between them and the IRS, which is why a new form is required annually to cover UPS. If someone repeatedly claims exempt or too many allowances, the IRS will eventually send in a letter to Payroll that locks in the w4 status the IRS believes is correct.

 

[grreyes6]

The W-2s are on their way! Yippee.

Form 1095-C will be available online on January 29 through UPSers and mailed out shortly thereafter. Originally we were told that you were required to have this form in hand to file your 2015 taxes. However, since it is a new form and employers aren't required to send it out for a couple of months, the IRS will let you file without it.

If you are one of the employees who claims to be completely exempt from federal withholding on your W-4, please remember that you must send in a new form for 2016. It cannot be done online. Please don't be that guy who forgets to renew his form and tries to demand a refund when Payroll begins withholding taxes. All other W-4 settings will carry over from year to year but the IRS requires a new form every single year for those claiming to be exempt.

ADP has not yet updated the system for 2015 W-2s , any news when?

 

[LongTimeComing]

ADP has not yet updated the system for 2015 W-2s , any news when?

It was the 23rd last year, which was a Friday. It will most likely happen on Monday....probably a whole 2 or 3 days before you get the paper copy....

 

[Jones]

ADP has not yet updated the system for 2015 W-2s , any news when?

Just printed mine out.

 

[TheBatman]

W-2s available now on the ADP site

 

[grreyes6]

W-2s available now on the ADP site

Just checked the ADP site and mine is not on there, only the past 3 years

 

[TheBatman]

Just checked the ADP site and mine is not on there, only the past 3 years

mine is on there...try back every so often

 

[browner89]

Mine are up for 2015.

 

[TooTechie]

Mine are up for 2015.

same

 

[UpstateNYUPSer(Ret)]

Just e-filed both returns.

 

[3838373]

The W2 are on w2.adp. com

 

[By The Book]

Just e-filed both returns.

What site did you use? I'm sure you already had all the necessary paperwork to proceed. Do you file head of household?

 

[UpstateNYUPSer(Ret)]

What site did you use? I'm sure you already had all the necessary paperwork to proceed. Do you file head of household?

H&R Block Deluxe

Yes.

Single.

 

[P.melvin1]

The W-2s are on their way! Yippee.

Form 1095-C will be available online on January 29 through UPSers and mailed out shortly thereafter. Originally we were told that you were required to have this form in hand to file your 2015 taxes. However, since it is a new form and employers aren't required to send it out for a couple of months, the IRS will let you file without it.

If you are one of the employees who claims to be completely exempt from federal withholding on your W-4, please remember that you must send in a new form for 2016. It cannot be done online. Please don't be that guy who forgets to renew his form and tries to demand a refund when Payroll begins withholding taxes. All other W-4 settings will carry over from year to year but the IRS requires a new form every single year for those claiming to be exempt.

I worked for the seasonal hire for pre load in Springfield Ohio, does this apply to us to? Because I still have not received mine yet?

 

[UpstateNYUPSer(Ret)]

I worked for the seasonal hire for pre load in Springfield Ohio, does this apply to us to? Because I still have not received mine yet?

They are available online now and should be in your mailbox by the end of the week.

 

[P.melvin1]

Can seasonal workers access them online?