Started/Completed your 2021 taxes yet?

[DLgal]

Still waiting to file, but I have entered in all the numbers I could using W2s and bank/529 statements. I think once I get the 1099 and 1098 I'm waiting on, it will just be a matter of double checking numbers and completing the filing process.

I did pretty good at estimating and adjusting our withholdings throughout the year. We didn't take the child tax credit payments, but I instead adjusted our withholdings to get that money upfront.

Looks like we will end up owing $124 to the Feds and getting back $340 from the state. Happy with that.

 

[DLgal]

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.

We have this situation as well. What we do is just adjust the withholdings at the highest paying full time job throughout the year and claim a TON of exemptions/credits on the others so that nothing is withheld on those except the required social services taxes. It's much easier to make periodic adjustments to the full time job withholdings using the IRS Withholding Calculator.

 

[nene0182]

Nope. I don’t have my W2 yet and we are waiting on a few other things. I think my husband said that he had his but I haven’t seen it yet. Pretty sure this is the first year we will end up having to pay in but I’m really hoping not.

 

[neverlandsky]

Started. Plan to e-file sometime in February.

 

[tvguy]

I got my W-2 for my IRA withdrawals this week and my tax packet from my CPA. Nothing from our former employers for the 7 months we worked before retiring. But those aren't due until January 31st. They would usually post them online earlier, but as we are now former employees we no longer have online access to our former employers HR system.

 

[kdonnel]

They would usually post them online earlier, but as we are now former employees we no longer have online access to our former employers HR system.

I have always maintained access to necessary HR systems after changing jobs. Are you sure you don't have access?

 

[AnnaS]

Have not received one single document.

 

[tvguy]

I have always maintained access to necessary HR systems after changing jobs. Are you sure you don't have access?

Yes. My login was locked at 11:30 am on my last day of work which was the end of my last shift. My former employer sublets everything to a third party for former employees, and the only thing accessible are my COBRA benefits. Our HR person said that is done for security reasons.
My wife's employer manages their own site for former employees and that too only allows access to COBRA benefits. Her HSA login hasn't changed but that is run by the health insurance company.
My former employer also sublet employment verification to a company that does nothing but that. So when I got a car loan, my employer refused to answer any questions, and referred the lender to this third party company. The only information that company has is your last salary rate and your hire and termination date. Corporate America is paranoid about getting sued and by using this company they know only the minimum required information can be released.

 

[rangerxenos]

Nope, I usually wait until mid March. We've gotten caught in the past with changes, or items forgotten, so now I just wait. We try and have it where we aren't getting a lot back, and if I have to pay I wait until the week before deadline to file.

 

[Southernmiss]

Nope.

Only have w 2s for me and dh. Waiting on lots more documents.

If we have them all in time, I'll enter everything in the program around Superbowl Sunday.

 

[lynxstch]

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

Same here..we got all needed documents last week and this week. We won't get anything back, but we won't owe anything either

 

[kdonnel]

Yes. My login was locked at 11:30 am on my last day of work which was the end of my last shift.

I guess I have always worked for companies that outsourced the W-2, W-4, paystub management to a company like ADP, Insperity, or Gusto rather than keep that information internal.

 

[dvcgirl67]

Done, filed and paid...we owe based on an unexpectedly high bonus for my husband. We made much more than we thought we would because of that and my business picking back up. Saved and invested more than we ever have in a year too...but that's primarily because our spending on goods has gone down this year after that first year of Covid when we all bought creature comforts to keep us from going crazy. That's down from 2020, but spending on services still has not budged for us since our last trip in 2019..hoping to take a planned trip to Mexico in late spring to help fix that problem .

 

[cvjw]

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.

The problem we run into every year is the last minute, end of the year mutual fund distributions. Here’s a $50,000 distribution for you on the last day of the year - happy taxes!

 

[CaptainAmerica]

The problem we run into every year is the last minute, end of the year mutual fund distributions. Here’s a $50,000 distribution for you on the last day of the year - happy taxes!

Right but if it's (reasonably) expected, you could set up your W4 to withhold as if you made $50,000 extra salary.

 

[georgina]

Not looking forward to this year. We changed states in 2021, so have 2 state returns to do. We bought the new house before we sold our old one, and I was getting a jump on address changes, forgetting that PA doesn't tax retirement income and VA does. So our 1099's assigned income to VA that really should have been while we were still PA residents, trying to get that amended. As retired people we have very little withholding so mostly pay quarterly estimated tax for state and fed.

 

[Kitty 34]

My oldest DS does ours usually in early March so no.

 

[Mysterian]

My place of jobness sent an email asking people to stop asking for W2 forms. So that's all the ETA we're given.

 

[Mackenzie Click-Mickelson]

No we've got some documents still waiting. Our student loans tend to be one of the last to have the documents available.

We do typically do it as soon as all documents are available so normally early Feb since they have til the end of January to send stuff out. If for whatever reason we get all documents before February we'll do them earlier.

 

[Mackenzie Click-Mickelson]

I have always maintained access to necessary HR systems after changing jobs. Are you sure you don't have access?

I haven't and with my husband about to switch jobs he won't either. Usually it's a security thing. They'll mail you your tax document. Even with outsourcing if the login was used with credentials the company gave you (like an e-mail address with the company), etc you'd be unlikely to log in especially if you're trying to retrieve the information and it requires an e-mail verification.