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Thread: TNL US Tax Thread 2014

  1. #1

    TNL US Tax Thread 2014

    Today is the day that the IRS has initialized acceptance of e-filing for 2013 Form 1040 returns.

    Among the most notable changes this year are the introductions of a new tax bracket (the highest rate is now 39.6%) as well as Forms 8959 and 8960, which are respectively used for the reporting of additional Medicare taxes and a Net Investment Income tax. Also, Form 8867 is now required to be attached to the submission of the return rather than merely held for record purposes, so that means that people who bank on the big EIC checks will likely have to go through a few new hoops to ensure that all information supplied is indeed truthful.

    As always, if you have any questions, I hope I can help answer them.

  2. time to get them plastic pools and Seiki 4K TVs en masse at Walmart

  3. Also, you're allowed to file as Married Filing Joint as a gay couple for Federal returns. I work a seasonal gig doing online support for a tax return website, and we are getting absolutely hammered about the late starting date and the new gay marriage statute. It really fucks with people who want to file the federal and state at the same time.

  4. #4
    39.6% is highway robbery, especially when that's just one robber's cut.

  5. hey, remember that time tnl was oblivious to EIC and tried to tell me I didn't know what I was talking about?
    And then you said that racist thing?

    yeah, that was awesome.
    Click image for larger version. 

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  6. How many times (or how long) can you defer submitting your tax return? I know some people who are filing their 2011 taxes.... If we can do this for 30-40 years, well, you get the idea.

  7. #7
    I don't know. Let me ask my dad.

  8. It's three income years. Bear in mind that you can only really do that if you don't expect to owe the IRS. Even in the same filing year, if you have a balance due to the IRS it's due by THEIR deadline, not the extension deadline in October.

    EDIT: I mean all this as if you don't want penalties from them. Believe me, I've run into plenty of people who haven't done shit for years and will probably owe. The IRS will find you and garnish the shit out of any future refunds, or your wages. Besides, why miss the opportunity to e-file? You can't e-file prior years and doing it on paper is a PITA
    Last edited by George; 01 Feb 2014 at 12:53 AM.

  9. Death and Taxes

  10. #10
    if you're self employed, what can they do? How do they garnish something that they don't have any control over? Come to your house?

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