Why do we have to fill out these forms?
Tax year 2015 I owed money to both the state and the feds. In order to keep this from happening in 2016, and to be safe from the penalty thing, I sent estimated payments to both along with my payment in April '16. Time passes, I forget all about it.
Along comes December 31, and I look at my last paycheck, compare to my '15 liability, decide I need to send an estimated payment, and send one on Jan 15. I go to turbotax in March, fill in fields. When I enter estimated payments, do I enter the April '16 payments? No. I only enter the Jan '17 payments. Turns out I've overpaid anyway, so I file and wait for my refund.
Time passes. I get checks! Um, wait, the checks are for the wrong amounts. No! They're not! They included the April '16 payments! Took me a while to figure out what happened.
So, since they KNOW, why do we have to do this? Why can't we just give them the raw data of deductions and additional income and let them sort it out?
This entry was originally posted at http://nosrednayduj.dreamwidth.org/3480.html. Please comment there using OpenID.
Along comes December 31, and I look at my last paycheck, compare to my '15 liability, decide I need to send an estimated payment, and send one on Jan 15. I go to turbotax in March, fill in fields. When I enter estimated payments, do I enter the April '16 payments? No. I only enter the Jan '17 payments. Turns out I've overpaid anyway, so I file and wait for my refund.
Time passes. I get checks! Um, wait, the checks are for the wrong amounts. No! They're not! They included the April '16 payments! Took me a while to figure out what happened.
So, since they KNOW, why do we have to do this? Why can't we just give them the raw data of deductions and additional income and let them sort it out?
This entry was originally posted at http://nosrednayduj.dreamwidth.org/3480.html. Please comment there using OpenID.