Started/Completed your 2021 taxes yet?

[kdonnel]

I got all my W-2 which are enough to start making rough estimates as to whether I got my withholding the way I wanted to but I am still missing many documents to actually complete my filing.

The last few years have been so different from the prior years with job changes and it has left me unsure if my withholding is set properly. It was good to see that a small refund was calculated using just the W-2 info. It should only continue in my favor once more info gets entered.

For me the worrisome part is a side job I have that paid me a not inconsequential amount of money in 2021 but only withheld 1.8% in Federal taxes and my wife's job (5x my side job in gross) that despite claiming 0 dependents and a working spouse withheld a whopping .7% in Federal taxes, not even 1% in Federal taxes.

I had to really ramp up the withholding from my job to make up the difference. The withholding process is so complicated and error prone when multiple jobs and multiple people are involved.

 

[ronandannette]

Nope. Companies aren’t required to have T-4s (our version of your W-2) or charitable receipts available until the end of February, so we’re still waiting for them. Our filing deadline is April 30 and since we always get a refund, we don’t panic about getting them in. Our typical practise is to use the income tax refund to pay our property taxes, which are due in June, so as long as it’s sorted by then, we’re good.

DH has a bit of a new situation this year as he is now receiving a mandatory government pension that is not deducted at source, so that may throw us a curve. I’m not too nervous (it’s only in the neighbourhood of about $8,000/year added income) but the worst-case scenario would be no refund, having to pay tax on the incremental income AND having to come up with the cash for our property tax. I think we’ll have them professionally prepared this year just to be sure we have a handle on it.

 

[ENJDisneyFan]

Nope, haven't even thought about it. We'll probably owe this year, so not in any hurry.

 

[soccerdad72]

No. Documents will get uploaded to my wife's tax department as we get them, but we won't get the preliminary return (with our estimated taxes) so we can file our extension until sometime in March at the earliest.

My younger son's W2 just came in today, so I will probably try to piece together his return (if I can get his investment income figures) this weekend. He's a broke teen with a girlfriend, so he's going to want his return ASAP.

 

[CaptainAmerica]

We're single-income, so our taxes are fairly uncomplicated, but we were up against phase-out limits for some of the COVID stimulus payments, specifically the enhanced child tax credit. I was able to make some late contributions to my HSA and my wife's IRA which got me under some thresholds and will yield a big refund. I'm looking at about $4,500 back Federal and $1,500 back state. I usually stay extremely up to date on my W4 over the course of the year to minimize my refund, but with all of the COVID legislation I was super conservative this year.

Now I'm just waiting on Vanguard and TDAmeritrade to finalize my 1099s for investment income to validate my calculations, but I'm pretty confident in what I did and don't expect them to change anything.

 

[Minnesota!]

I have 2 of our W2s inputted, am waiting on one more. I have not received anything else other than one charitable donation receipt.

I do my older sons taxes - age 17. He needs 1 more W2, too. But, so far, he made more in 2021, working part time, than I did at my first full time job.

 

[cvjw]

Nope. We always end up owing so much money and we are in no rush to pay. Our withholdings are always correct, but we have so many capital gains that we always owe $$$$.

 

[Meriweather]

No.....documents needed not here yet.
We did just get the packet from our accountant, so we will be ready to go in a few weeks

 

[CaptainAmerica]

Nope. We always end up owing so much money and we are in no rush to pay. Our withholdings are always correct, but we have so many capital gains that we always owe $$$$.

If that works for you, it's none of my business, but the IRS publishes a W4 calculator where you give it an estimate of your capital gains and other non-wage income, and it tells you how to adjust your withholding so that you don't end up owing. I usually run the calculator with new estimates at least quarterly, but also any time I get a raise, bonus, unexpected other income, etc.

 

[spiders]

I’m pretty much ready to file. Just need to do a final review.

 

[_19disnA]

Everyone files when the time is right for them. The tax software I use indicates that various Federal forms have not yet been finalized so I doubt it makes sense to rush to file and then need to submit amended forms. Likely some people are still waiting to receive various forms they need to complete their return.

 

[MamaMermaid]

Nope. My W2 came out today, hubby's takes a lot longer. We will start when he gets his.

 

[disney212]

Nope, waiting on W2s, 1099s, 1098s. I do have all my 501 donation receipts.

 

[LoveSpringsteen]

We usually don't file until mid-February. I just got my W2 today. My husband's W2 hasn't been issued yet and no 1099's received yet.

 

[EACarlson]

I haven't gotten any of our w-2s or 1099's yet. I'm surprised, usually my primary employer has it ready about the 15th. It will be mid to late February before I get them done.

 

[dclpluto]

Nope haven’t got anything in the mail.

 

[mrodgers]

Not married to a money sieve any more so I get lazy about the taxes. I don't need the refund to catch up on bills any more. I'm in no hurry.

 

[loves to dive]

I haven't issued my W2 yet (I'm the bookkeeper in my company) I've done them and looked over them but am waiting until next week to issue them. I won't file my taxes until mid to late Feb. since I don't get my 1099 on my health insurance until later. I don't earn enough on my savings for it to matter and I can look that up on line. I'm not in any hurry, I usually get a small refund but I don't need the money. I might actually owe some this year since my boss issued me two bonuses in December (called them pre-severance since we are shutting down end of 1st quarter this year) which might have put over the limit for tax credit on my insurance.

 

[bobbiwoz]

We are waiting for my IRA’s to get their acts together! Otherwise, we could file!

 

[disneychrista]

Nope. I’ll have to pay due to 1099 income, so not in a hurry.