Tax Day

[Cam]

For all of our US residents, as I'm sure you already know, tax day is Monday, April 15th. That is literally tomorrow. Have you filed your taxes yet? If you have not yet, then you definitely need to get on it.

I just finishes my taxes. I always put it off until the last couple days. I have always had a little bit of a procrastination problem.

What about you guys?

 

[Ravenfreak]

My girl and I already did our taxes and got our refunds back a few weeks ago. I typically don't like putting it off, especially with what happened last year. (The IRS site was down on tax day, leaving many people in the dust since the government didn't want to update their software... LGR actually uploaded a video about it not too long ago. :V)

 

[edenwax]

My girl and I already did our taxes and got our refunds back a few weeks ago. I typically don't like putting it off, especially with what happened last year. (The IRS site was down on tax day, leaving many people in the dust since the government didn't want to update their software... LGR actually uploaded a video about it not too long ago. :V)

I just watched that!

Yeah I did mine weeks ago because if you do it early, your refund comes sooner. 😀
/brokecollegestudentlife

 

[Gizmo]

In New Zealand our tax year is 1 April to 31 March. Is this different in the US?

 

[Elli]

I filed mine way back in mid-Feb (I always file as soon as all the forms are available to minimize the risk of fraud), but my employer's payroll company messed up and sent a corrected W2 at the beginning of this month. 🙁 So now I have to file an amended return. I have it prepared, but we don't have a printer, so somehow I need to get this printed and postmarked by tomorrow.

In New Zealand our tax year is 1 April to 31 March. Is this different in the US?

The US tax season starts January 1, and ends April 15 of the same year. Do you really get nearly a whole year to file your taxes in NZ?

 

[Van1lla ™]

I'm guessing this only applies to self employed folks in the US?

 

[Gizmo]

The US tax season starts January 1, and ends April 15 of the same year. Do you really get nearly a whole year to file your taxes in NZ?

We get a whole tax year.

Businesses in New Zealand pay income tax on their net profit earned in any specific tax year. For most businesses the tax year runs from 1 April to 31 March but businesses can apply to the IRD for this to be changed.

 

[Page]

I don't need to fill it an tax form, yet again I never had to and never need to. Well yet again the future will be the future. End of the day I hate paying VAT on everything. It's VAT here....

 

[Van1lla ™]

It’s VAT, national insurance and income tax/PAYE. Empire you would only fill in a tax form if you were self employed over here.

 

[Gio]

I'm still needing to file mine. 😛

 

[Elli]

I'm guessing this only applies to self employed folks in the US?

This is everyone in the US. Self-employed people usually pay an estimate on their taxes per quarter, but people who work for companies have taxes withheld from their paychecks automatically. Then when tax season starts, we have to file whether we owe more money to the IRS (not enough tax withheld), or whether we should get a refund (too much tax withheld) based on the forms we have received from employers, banks, investment accounts, etc. And it's all due April 15, unless you file for an extension (bumps out to October).

It's all very archaic and the only reason the US still operates this way is because tax software companies such as Intuit actively lobby the government to maintain these complicated tax structures, which they stand to profit off of.

I had to take PTO from work today to get my amendment printed and mailed in time. But that was my own fault; I could have had this figured out last week if I'd taken the time.

 

[Joshua Farrell]

We get our taxes filed as soon as we are able here, which means fun vacation time comes sooner. 😀