Anyone else suprised by a Tax Refund?

[sweetdana]

I just got a call from my CPA, who after 7 straight years of oweing I am getting a refund.

I assume CPA will efile it today, as he is super fast, but when will I get that direct deposited into my account?

Anyone else usually OWE that was with cash back?

 

[LuvOrlando]

YAY you! Whatcha gonna do with it?

We always pay too much because I'd rather get a check than have to sign one, even so, more back would be nice

 

[mickeymedic]

I was expecting to break even or maybe get a couple hundred dollars. Instead, our refund will be over $1000. Part of me is really happy... But the rest of me is not too thrilled that we gave the government such a large interest free loan this year.

 

[irishfanx4]

If your CPA e files today and the IRS accepts it---your direct deposit should go in around March 11 give or take a day as to when your bank actually posts it. Congrats with the refund and have fun with it!!

 

[allyphoe]

I assume CPA will efile it today

Only if you both sign it today. It can't be e-filed until you sign.

If it's filed by noonish on Thursday, your Fed refund should be sent to your bank on the following Friday.

 

[Hoodie]

We're paying for the first time. Not really sure how that happened since everything remained the same as last year, but apparently we owe a net of $3000 more taxes (this year's bill plus last year's refund).

As long as the gov't remains open you should get your deposit in 10-14 days, I think.

 

[sweetdana]

Only if you both sign it today. It can't be e-filed until you sign.

If it's filed by noonish on Thursday, your Fed refund should be sent to your bank on the following Friday.

I am right to assume then he has to mail to me to sign and then I mail it in? He always mails me something to sign.. but usually I send it with a check.

YAY you! Whatcha gonna do with it?
.

I am being a somewhat bad short term consumer. I am saving for a new to newer van.. Mine is a 2003 and has almost 100K miles on it. I try to live debt free (mortgage is last debt left), I have to save up 28K ish for a new van. (Or less if I can get one off someone elses lease.) I have now about 11K after what I THOUGHT I would owe IRS, plus the refund.

 

[cybrkitn]

We just had our taxes done yesterday. When the accountant told us how much we were getting back, I ! After seeing my reaction, he double-checked his figures and came out with the same number. I told him that it was a good thing I wasn't taking a sip from my tea or I would have done a "spit-take" (think iCarly)

We're now in a different tax bracket since I'm not working. DH has his regular state job and a small IT company that he and a co-worker have started. All of these things plus the donations we have done last year has given us double the amount of what we received last year! That means we can now pay off our overdue bills and still have more than enough money for our Disney trip in December

 

[sweetdana]

I told him that it was a good thing I wasn't taking a sip from my tea or I would have done a "spit-take" (think iCarly)

I DOOOO SO UNDERSTAND!!!

HAVE FUN Spending yours!

 

[cybrkitn]

I DOOOO SO UNDERSTAND!!!

HAVE FUN Spending yours!

We plan on it . My mom and brother are joining us this time and it's our first time going during the holidays.

 

[njmom47]

Grr, we are on the other side. This year we will be paying! DH started a new job mid-year and when I was doing our taxes I noticed the Federal Withholding looked really low...and when I got to the end it said we owed!
I made sure he showed me a paystub from this year and it looks ok now.
We are used to getting a couple thousand dollar refund at least. Now ds's braces are temporarily on hold...

 

[Toad_Passenger]

We added a new kid to the bunch this year, so I knew it would bump up our refund, but it practically doubled it based on other things this year! We have some bills to pay off, so it was a good thing.

 

[Conservative Hippie]

We typically get back $200-300, but this year we will get back $1,000. That's a nice little surprise!! Unfortunately (or fortunately?) we've already had to spend about $600 in car repairs, and we should have enough left over to put up a couple of ceiling fans.

 

[tvguy]

If your income, deductions, and exemptions are the same as 2009, you should be getting less back, or paying more.
President Obama ordered the IRS to change withholding tables to withhold less in 2010, to give us our money as we earned it rather than wait for a refund.

I got my taxes done today, and my Federal refund is half what it was last year.
My California return I am getting $280 back, last year I owed $125.

 

[lakelandgal70]

Yep we think we are getting a refund just waiting for the tax guy to call us back. This will be first year in many that we are getting something back!

 

[sweetdana]

Yep we think we are getting a refund just waiting for the tax guy to call us back. This will be first year in many that we are getting something back!

GL!

 

[klj27]

I wanted to cry when I did our taxes this year. Our income was almost identical (mine and my husbands) and we hade very few changes but we got back $1300 less. I always use this money to pay all of our insurance for the year (home, life, etc.) This year I am not going to have enough and we are already behind.

 

[sweetdana]

I wanted to cry when I did our taxes this year. Our income was almost identical (mine and my husbands) and we hade very few changes but we got back $1300 less. I always use this money to pay all of our insurance for the year (home, life, etc.) This year I am not going to have enough and we are already behind.

 

[MELSMICE]

We are getting the largest return we've ever gotten. Both DH & were absolutely flabbergasted when we saw the amount. I could purchase a brand new small car with the amount we're getting back!

It always gets split up between retirement, savings, Disney & college.......boring, boring, boring. (with the exception of Disney, of course!)

 

[cybrkitn]

Unfortunately (or fortunately?) we've already had to spend about $600 in car repairs,

I had the proverbial hit me yesterday when I was driving and my brakes squealed. It reminded me that DH and I need to use at most $1k to get oil changes and brakes done in both our cars (and anything else that they might find ).

I'm just happy that we can now pay all of our overdue medical bills and pay off our Disney Visa card so we can put on our Disney vacation. I hate to do that, but a credit card is required and it leaves us no choice since we are going through a travel agent this time. Besides, we ge more reward points added.