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s/o tax refunds

3K views 86 replies 65 participants last post by  dachshund mom 
#1 ·
We can hardly wait for our tax refund! I have bills to pay off, pay on etc, but then we usually take a small family trip for a weekend. I can't wait! What do you plan on doing with yours.?
 
#52 ·
Not much in the fun category here:'

paying for dd's dental surgery out of pocket
paying off debts/paying down other debts
putting the van in the shop for a new intake sensor, brakes, windshield washer pump, electrical repair to my power seat and drivers window.

if there's anything left over we're getting the kids fitted for new shoes and getting some sports gear for the summer.
 
#53 ·
The calculator says we'll be getting $6,800 back. We cannot adjust our withholdings any further than what they are, we just have no tax liability and get the EITC from being low income.

So anyway here is the breakdown:

$1400 goes to my mom to pay back the loan she took out against her 401k to keep us from getting evicted.
$1000 goes to my dad to pay him back for buying us a minivan (that I can't drive because I can't afford to get the brakes fixed and get it registered).
$300 goes to getting new brakes for the van.
$500 goes to getting the van registered. (That's the fees I've calculated from when we bought it in August if we register it in February. There's a per-day fee after a certain number of days).
$200 goes to a convertible carseat for the new baby.
$200 goes to a new carseat for DS3 because he's outgrowing his 5 pt. harness but still needs one.
$1000 goes to getting caught up on the rent and electric bill.

$4600 is the total. The rest is going into savings to keep us from getting behind in the future.
 
#55 ·
We expect around $3600 and it's going ALL towards paying down 13k in credit card debt. It will be nice to get that under 10k, and we are putting all extra and unexpected money towards that debt. This will be a nice headstart to being debt-free. All we have is that, no car payments or anything else. Yay!
 
#56 ·
Do any of the calculators ask about your stimilus pkg? I just did my prelim taxes with taxcut and you have to subtract your stimilus pkg from your refund.

We hopefully are getting back about 400 which part will go to pay state if there is more left the rest will go toward CC debt.

Last year the updates for federal didn't stop till sometime in february and our state taxes aren't available till the last week of January so we hold off and file the first week or so of march.
 
#57 ·
Quote:

Originally Posted by OceansEve View Post
Do any of the calculators ask about your stimilus pkg? I just did my prelim taxes with taxcut and you have to subtract your stimilus pkg from your refund.
Hmmm, you got me wondering, so I looked on the IRS webpage and found this:

Quote:
What is it? It's an economic stimulus payment that more than 124 million households will receive. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return. Payments started in May and will continue through the end of 2008.
From http://www.irs.gov/newsroom/article/...179211,00.html

I'm assuming you're referring to the 2008 stimulus package and that you're in the US.
 
#58 ·
Well technically they aren't lying, its not taxable because it is your taxes - early. It didn't change the refund amount it just considers that to be part of my refund already recieved is the way I'm interpretting it.

I do my taxes with taxcut and it asks you how much you got back in your stimulus check and then subtracts it from your total.
 
#60 ·
Quote:

Originally Posted by OceansEve View Post
Well technically they aren't lying, its not taxable because it is your taxes - early. It didn't change the refund amount it just considers that to be part of my refund already recieved is the way I'm interpretting it.

I do my taxes with taxcut and it asks you how much you got back in your stimulus check and then subtracts it from your total.

According to the IRS it shouldn't affect your taxes period.
 
#62 ·
Quote:

Originally Posted by OceansEve View Post
Do any of the calculators ask about your stimilus pkg? I just did my prelim taxes with taxcut and you have to subtract your stimilus pkg from your refund.
.
oh, man. I really hope that's not the case! and what about people who don't get a refund?
 
#63 ·
Quote:

Originally Posted by Kaitnbugsmom View Post
wrt to the stimulus, the H & R block online version told Dh that he qual'd for 900 so since he only recieved 300, he got 600 added to his tax refund
Taxcut is H&R - so if they added to his it makes sense they would subtract as well. maybe they have it wrong? Could it be? It would be nice if they did but I doubt it. Too good to be true


drummer's wife - that's what my thought was since it was based on 2007 taxes what if you made more in 2008 and have to repay all of it?? I don't know how it will work, but I'm very curious now when people start filing this will probably make a very big stink. I'm wondering if thats what happened to us. We made a little bit more this year than last so did that knock us out of the bracket and we had to repay it?
 
#65 ·
I'm wondering something, I can not remember if we got 600 or 900 from the stimilus and the IRS website took down the wheres my refund thing and my bank wont allow me to search that far back. How am I supposed to find out what it was? I want my taxes to be in the 1st batch filed.
 
#72 ·
Quote:

Originally Posted by Satori View Post
ok, now I'm irritated, the IRS said the stimulus wont impact this years refund, but once I added in the stimulus it took $300 away from my refund
:

wtf? that just sucks... I'm thinking we got $1800 for the stimulus (though, i honestly don't remember, maybe it was $1200). If they deduct that from our expected refund this year that's messed up. Again, what about people who don't get any money back?
 
#74 ·
h&r block calc. said $9k back, and I think part of it was a first time homebuyer thing? That's double what we normally get back. Whatever we get we'll be buying a better family car (and donating the one we just bought this week) and then the rest is going to pay bills.
 
#76 ·
Quote:

Originally Posted by Drummer's Wife View Post
wtf? that just sucks... I'm thinking we got $1800 for the stimulus (though, i honestly don't remember, maybe it was $1200). If they deduct that from our expected refund this year that's messed up. Again, what about people who don't get any money back?
Yeah, I'll be pretty p!$$sed if it's deducted from our refund after they said it wouldn't affect it. We really need that money right now and I've already budgeted out what we expect to get. I will cry if it ends up being about half of what we're expecting.
 
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