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Grrrr.... discovered a mistake on my taxes...
Posted by: DavidS
Date: April 17, 2017 08:46AM
about 5 minutes after I e-filed last night. I electronically imported my W-2, but it did not transfer the Dependent Care Spending account info. My refund is now dropping by a significant amount (I wondered why it was higher than normal).

I spent 45 minutes on hold with the IRS this morning to find out what I suspected, I have to file an addendum for both Federal and State. It would be easier if they could just reject the e-filed returns, but evidently they cannot. Plus, I need to pay the difference between the higher refund that I'll receive and the lower amount that I should be receiving.

Not the end of the world, just annoying.
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Re: Grrrr.... discovered a mistake on my taxes...
Posted by: Bixby
Date: April 17, 2017 08:50AM
What software do you use?

I use H&R Block, but was doing some testing relative to the Dependent Care FSA vs. Dependent Care credit, and it doesn't seem like the software automatically accounts for the possibility of reporting both. I put in a question to them, as (somewhat like you) it will affect how I file and thus what my refund will be...
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Re: Grrrr.... discovered a mistake on my taxes...
Posted by: jdc
Date: April 17, 2017 03:30PM
Meh. Im filing an extension. Just like every year. I never get a over payment of taxes back refund, so no matter.



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Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: Grrrr.... discovered a mistake on my taxes...
Posted by: bobinmurphy
Date: April 17, 2017 04:19PM
Quote
jdc
Meh. Im filing an extension. Just like every year. I never get a over payment of taxes back refund, so no matter.

I get a chuckle every time I hear someone brag about the refund they're getting on their taxes. Guess it never crosses their mind that they've basically loaned money to the Government at zero interest. I always try to end up owing just a little bit - figure it's far better that I had use of my money over the year and if I file on time I don't pay interest or penalties.
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Re: Grrrr.... discovered a mistake on my taxes...
Posted by: Speedy
Date: April 17, 2017 04:45PM
Quote
bobinmurphy
Quote
jdc
Meh. Im filing an extension. Just like every year. I never get a over payment of taxes back refund, so no matter.

I get a chuckle every time I hear someone brag about the refund they're getting on their taxes. Guess it never crosses their mind that they've basically loaned money to the Government at zero interest. I always try to end up owing just a little bit - figure it's far better that I had use of my money over the year and if I file on time I don't pay interest or penalties.

You are correct. But I don't mind loaning the government some money under certain administrations and not others. Same situation goes for my state income taxes, even donating some (or all) of my refund to my state depending on who is running things. Besides, interest rates have been low for years and investing it is not something I do with any great success.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: Grrrr.... discovered a mistake on my taxes...
Posted by: Acer
Date: April 17, 2017 11:15PM
Some of those big refunds include refundable credits (as in, more than the tax you owe). You can file to get (some of?) those in advance, but it's kinda sorta not your money until after you file taxes.
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Re: Grrrr.... discovered a mistake on my taxes...
Posted by: sekker
Date: April 18, 2017 01:16AM
Been there, done that.

One year, I could have filed an addendum for $50. Decided it was karma and let it go.
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