What did everyone else do with their tax return

[1466IH]

So far i bought 2 new batteries(now it turns over fast enough i dont need ether), a starter solenoid(now i dont have to start with a screwdriver), new radio, wires and relays for the headlight mod, and just started pricing gauges on summits site but i didnt get that much back lol. I never realized how expensive gauges were until now.

 

[ToughOldFord]

Return? , I didn't breed so I pay.

 

[1466IH]

mine was a whopping $800 which is one of the downfalls of doing mostly cash or barter and trade business. I only made $3000 this year according to the IRS

 

[FarmerFrank]

mine was a whopping $800 which is one of the downfalls of doing mostly cash or barter and trade business. I only made $3000 this year according to the IRS

Nice. Since I sold my 2013 crop in 2014 I showed $400 for the farm last year and a xx,*** loss. Plus a marriage and a baby. Ought to be a good check

 

[riotwarrior]

DOn't know what it's like in US, however ....

I was told once...DON"T file returns for up to 7 years or so, then do all at once!

Why you may ask...think about this...you pay a small penalty for doing this however, you can get a rather large sum in one shot, 8-10K maybe more???

This is LIFE changing money, not 800 bucks to buy a TV or parts, this is down payment on house money this is when you can make big changes.

I thought about this for a while and it made sense.

JM2CW

 

[1466IH]

If you only file every 7 years you have a better chance of an audit and I am not particularly fond of that idea

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[icanfixall]

An audit is worse than taco shites in my feelings. Nobody wants either but one surely is less of a problem than the other. I have not filed yet but am expecting a good return because of the huge amount of interest we paid. Sure wish I could pay off the house but that creates more tax issues too. 2 years ago I paid more income tax than Warren Buffet the multi BILLIONAIRE..... Now how does that work out. He made plenty and I made nearly nothing...

 

[1466IH]

An audit is worse than taco shites in my feelings. Nobody wants either but one surely is less of a problem than the other. I have not filed yet but am expecting a good return because of the huge amount of interest we paid. Sure wish I could pay off the house but that creates more tax issues too. 2 years ago I paid more income tax than Warren Buffet the multi BILLIONAIRE..... Now how does that work out. He made plenty and I made nearly nothing...

That is why I only made $3000 this year according to paperwork all our government wants to do is screw the working man so the less they know about me the better

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[Mulochico]

Refund every 7 years? The amount is good, but the government gets money I could get interest rotflmao) on for those years. I only let them hold onto it for as little time as I can.

 

[OLDBULL8]

Refund every 7 years? The amount is good, but the government gets money I could get interest rotflmao) on for those years. I only let them hold onto it for as little time as I can.

Where are you getting any interest that amounts to more than .5%?

Hope you guys spend my money wisely, all $12,641.00 of it.

 

[tjcsr]

i didnt file for 6 years, 1st year i owed $600. now after all the crap i owe around $7k.

After 3 years the IRS can say the "lost" your money that was owed to you. so a few years i lost 100% a few more years im able to get back and apply to the total debt. only thing pulling me out of this is a crappy year and a family of 5. Im showing 11k in return before paying the 7k.
lesson learned.. file each year no matter what.. dont screw with the tax boogey-man

 

[rhkcommander]

Its better to learn how to save money than avoid doing taxes for years on end

 

[1466IH]

Where are you getting any interest that amounts to more than .5%?

Hope you guys spend my money wisely, all $12,641.00 of it.

This country spend money wisely ha you sir are funny lol

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[gandalf]

DOn't know what it's like in US, however ....

I was told once...DON"T file returns for up to 7 years or so, then do all at once!

Why you may ask...think about this...you pay a small penalty for doing this however, you can get a rather large sum in one shot, 8-10K maybe more???



JM2CW

i didnt file for 6 years, 1st year i owed $600. now after all the crap i owe around $7k.

After 3 years the IRS can say the "lost" your money that was owed to you. so a few years i lost 100% a few more years im able to get back and apply to the total debt. only thing pulling me out of this is a crappy year and a family of 5. Im showing 11k in return before paying the 7k.
lesson learned.. file each year no matter what.. dont screw with the tax boogey-man

The theory may sound nice, Al, but the practice is a bit different. Follow the advice, "don't screw with the tax boogey-man." The IRS has numerous penalties to help make you toe the line. At the least, they'll hit you with 'failure to file' and 'failure to pay', and then there is the interest on what you should have paid, on the assessed amount. Get a rather large sum in one shot? More like get a rather large shot at one time. Just remember when you go in for that shot that you have to provide your own Vaseline.

 

[jada64]

I bought a racecar project, bought the $140 in fuel to get it, some ATF, new trans cooler line, and a 16G turbo for said racecar. Thats about it right there.

However what I got for free was a pissed off GF, I havent had the car long enough to even think about working on it yet, but she is already jealous of it.