June 24, 2020, 07:54 AM
mrvmaxSo anyone else getting a tax refund for 2019 that normally doesn’t?
For the last few years I set up my withholding so that I owe between $1-2000. My CPA’s assistant called yesterday and said my taxes are ready and that I’m getting a refund of $1900, I expected to owe that amount. I suppose since the standard deduction increased and that is the cause but wondering if anyone else has seen that. I’ll ask my CPA when I pick up my paperwork why the big change, nothing else changed for me.
June 24, 2020, 10:33 AM
wxdaveNot for me. My tax burden increased quite a bit since many deductions were taken away in 2018.
June 24, 2020, 10:36 AM
BigSwedeNot doing mine until 7/15 because I owe. Let us know what changed for you
June 24, 2020, 10:54 AM
PR64Nope...
The elimination of the SALT deductions means I now owe the Feds.
Even though I have to pay I agree with getting rid of the SALT deductions.
June 24, 2020, 11:25 AM
1967GoatWe did our taxes and found out we owe about $4k. Since they extended the deadline we haven't paid it yet. Will pay in early July.
We need more deductions.
June 24, 2020, 11:36 AM
skonieLast year we owed $1500 which is the lowest we've had to pay in years. Usually in the past it was around $2-3k. For some reason this year, we owe $4500.
June 24, 2020, 02:44 PM
AquabirdWE usually get a small amount back from the Feds, but this year we got a big check.
Thank Goodness we got a big check, things have been breaking around my house all spring and it has continued this month so far. Seems like every week it is something different that needs fixed or thrown out.
June 24, 2020, 03:01 PM
FredwardNo, but I had to pay them less for 2019.
June 26, 2020, 02:17 AM
GRIZZLYBEARI send the Feds quarterly payments of $1000 in addition to what they withhold & I since I have to take a certain amount out IRA I them take 40% for the feds; the end the year I normally owe between $3,500 and $4,000 this year $4,200 owed to the Fed.
I know I could hold off till July 15 but I just paid them with a check on 15 April.