Discussion in 'UPS Discussions' started by mattwtrs, Apr 15, 2008.
Did you all file your taxes? Does anyone on BC deliver to the regional IRS offices?
No I would be too tempted to burn it to the ground
I spent 4 hrs last night finding forms etc for paying school taxes, Taxes is my worst enemy. Fair tax!!!!
Did mine online. It took 5 minutes. Had the return in 7 days.
i pick up from an IRS office. usually 12-15 next day air. i know the guy that works there was saying they have an on call pickup every saturday from first of march up till now. not sure why but i know the last few days there has been hectic looks like. dont really envy them at all.
I started mine at the end of January and quit when I realized I owed the Feds an extra thousand bucks. I finally finished them and mailed the check last week. I tried to hang on to my money as long as I could! I have since dropped a dependent so my checks are a little smaller.
I did find out I would get $1200 back this June with the Bush tax cuts. So in a way I guess I will come out a couple of hundred bucks ahead along with my big $180 state refund. We really need to abolish the IRS and go to the FairTax Plan.
I owed $69 dollars. I found out my mom was still claiming me for the past 3 years when I wasnt even living with her nor was I under 17. She owes me $1900
We just sent ours in last week and are getting about $7500 back from the feds
I finally got mine to the tax guy late last week. He promptly filed for an extention. LOL He'll probably get to them next week. I should get a refund from both but not sure yet.
I get ups to take $15 extra eack week in taxes so at the end of the year I get a refund.
Why would you allow the Feds to play with "your" $7500 all year? You should be able to get your withholdings narrowed down closer than that.
The route I covered last year delivered the IRS Southeast Regional building. Easy money. You get to clock in 25 minutes early to scan the all the envelopes. I delivered 1022 pieces that day and over 700 went to that one stop. I planned to over 13 hours that day even though I was back in the building at 6pm. We're a bonus center but I'm a cover so I got nothing. Yesterday the guy that delivers that route delivered just over 1012 pieces. He's a cover also so he gets no bonus. The regular full-timer on the route now took his vacation this week because he didn't want to deal with all the envelopes. I would've worked since he probably would be looking at well over 10 hours bonus for the week.
Interesting. Up here in VA our cover drivers start getting paid bonus as soon as they make it past their 30 day qualification period. Sounds like you guys are getting a raw deal, what supplement are you working under?
Cement, a refund of that size should be a red flag to you that you may be having too much withheld from your check(s) and you may want to take a look at your W-4(s) to see if any adjustments can be made. You are basically loaning the Feds $7,500 interest free. There are several steps that you could take, to include adjusting your W-4 and the % going to your 401k, which could help you keep more of your check each week and still ensuring that you will get a refund (smaller) each year. You may also want to look in to an IRA, whether conventional or Roth.
I do it on purpose. My wife and I both still file S-0 though we are married and have a child. We mainly do it that way cause if I have more money every week then I will spend more money every week. It's nice getting that "gift" at the end of the year. We also make alot of money back on interest from our house. On top of our $7500 we also get our stimulus check and we got anout $2200 back from our mortgage comapany that was for overpaid escrow.
We know why we get so much back and how to fix it but as said, we would spend it. either way I'm not making any money on it.
So what keeps you from spending it when you get it all back in one lump sum?
The BigBrownSanta Savings and Loan Bank will gladly help you keep your money by playing IRS for you if you'd like. Just let me know.
Cement, point taken and I was by no means trying to tell you what to do. In cases like this the person usually does not know how to fix it and doesn't realize that they are basically loaning the Feds the amount of their refund interest free so I show them how they can adjust their W-4s or increase the % on their 401k or open an IRA. Like you, they see $$ but, unlike you, they don't do it on purpose. We each have to do what we feel is right for us. Again, I certainly was not trying to tell you what to do and apologize if that is they way it came across.
I got back just under $2,000 combined, have 20% going to my 401k and claim S-7 Federal, S-1 NYS. For some reason my refund from NYS is always much lower than my Federal which is why I keep my withholding at S-1. Next year I will no longer have the college deductions for my daughter, which is why I jacked up my 401k. I am expecting a fairly large sum of money this summer ($30-35K) which should pay off most of my bills and will allow me to max out my 401k, at which point I will adjust my Fed to S-9, which is the most you can claim online as you have to go through HR to go above that amount. I also hope to open an IRA but am not sure if it will be a traditional or Roth--I will have to research both options. The 20% and S-7 leave me about the same take home as if I were to have 5% and S-1 with a much larger tax credit for my 401k. There is a calculator either on the 401k website or online which allows you to figure out which combination of % and withholding gives you the take home pay that you feel comfortable with.
No, it's cool. People all the time ask why we do it that way so I am used to it.
rod- the difference is that every week I can spend an extra $20. But when I get a $7500 check it goes in teh bank and stays in the bank. Just harder to rationalize spending all that money when it's one lump sum. Even ifI won the lottery I would it and try and rationalize any outlandish spending.
Like Cement, I like getting that large refund(mine is in the $2K range) for the same reason he states. So what if the feds are using my money interest free? Is this not OUR countries income? How much would I gain in interest if I zeroed out at the end of the year? Not all that much.
I too would rather have the extra taxes taken out and get a refund at the end of the year. I don't mind letting the goverment use it because they have to pay it back. I am not required by law to pay myself back. LOL This year we are using it to go to Puerto Vallarta on vacation. Next year we will plan something else with it.
Separate names with a comma.